Revenue and Deferred Revenue |
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| Revenue and Deferred Revenue | Note 5 — Revenue and Deferred Revenue
The Company recognizes subscription revenue over time, ratably over each monthly service period (ASC 606). Five Operator-tier subscription agreements commenced during the quarter:
Proration uses a 30-day service-month convention measured from each commencement date. The Cambridge Innovation Capital PLC and University2Ventures GmbH agreements originally provided for November 1, 2026 commencement; the parties mutually agreed in June 2026 to advance commencement to June 26, 2026 and to price each subscription at the standard Operator rate of $1,499 per month, as documented in Amendment No. 1 to each agreement, filed as Exhibits 10.5A and 10.6A hereto. Customer concentration: five customers constitute 100% of revenue.
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