October Upside Ranks
Qualitative relative target-touch selections · Not calibrated probabilities
Dated prices · targets are price touches, not forecasts · exact ranks are editorial judgments.
Grade legend, dates & research limits
Completed editorial grades · assessed October 6. Business = demonstrated commercial traction. Catalyst = clarity and timing of the next important test, not success odds. Target path = how demanding this list’s target is. These grades use the same rubric for all selected names; they are not native financial-model grades or statistical probabilities.
A strong / direct · B supported but conditional · C speculative or major gaps · D exceptional leap / weak bridge. A strong catalyst can fail. A fivefold target can have a D path even in a top-ranked moonshot.
Exact grading benchmarks & evidence dates
Business
How far the business inflection is demonstrated today, not source completeness.
- A — Broad, realized commercial growth or earnings; not just a plan.
- B — Real but early, concentrated or mixed operating traction.
- C — Primarily clinical/development or capacity optionality; limited realized economics.
- D — Retained facts undermine the proposed business inflection.
Catalyst
Specificity, observability and timing of a thesis-changing test inside the original window, not its chance of success.
- A — A scheduled or explicitly windowed material readout, launch or commercial ramp; repeated hard operating tests may qualify.
- B — Concrete delivery, orders or earnings tests, but diffuse timing or less discrete thesis change.
- C — A real milestone with important acceptance/economics/timing gaps.
- D — No supported material in-window test.
Target path
Burden of reaching THIS tier target from the dated baseline; not an absolute odds estimate.
- A — Comparatively direct earnings/recognition bridge in retained evidence; still conditional.
- B — Recognizable bridge, but meaningful premium, execution or share-claim sensitivity.
- C — Speculative extension or binary rerating beyond established economics; small-base elasticity is not a forecast.
- D — Exceptional leap far beyond retained cases, with major scale/valuation/financing obstacles.
No bell curve, numeric weights, A+ grades, probability conversion or grade-based reranking. Same rubric for incumbents and additions; target-path grades vary by tier. A catalyst can fail. No synchronized chart grading because technical coverage is not comparable across all 19.
Assessment October 6 of retained evidence, not an October 6 source refresh. Baseline October 1; existing remaining touch window October 4, 2026 to exclusive October 1, 2027. Original source cutoff October 3; additions retrieved October 4; Bloom narrative retrieved October 5 UTC. Original publication dates remain attached to sources.
Original conservative research grades remain in each full story. Partial financial underwriting remains partial: completed qualitative grades do not certify current cash, target dilution, clinical efficacy or funded forecasts. No chart grade is invented from unmatched technical snapshots.
Targets use October 1, 2026 baseline quotes, which are not live prices. The price-touch window is October 4, 2026 to exclusive October 1, 2027, not the price at expiry. Exact ordinal differences are low-confidence editorial judgments; absolute likelihood may be low.
Original financial source cutoff: October 3, 2026, 07:14:12.687379 UTC. Biotech sources retrieved October 4 with original publication dates retained. Bloom’s power and policy narrative reviewed October 4 ET (sources retrieved October 5 UTC). Publication does not clear research or model limitations. No calibrated odds.
AEHR · Aehr Test Systems
2x Conviction · #45x Moonshots · #3Oct1 baseline: USD 101.6. Original frozen quote retained.
The investment story
Thesis
A paid AI production order could lead to repeat chip-testing demand, lifting revenue as customers scale manufacturing.
What could move the stock
A paid AI production order could lead to repeat chip-testing demand, lifting revenue as customers scale manufacturing.
Next catalyst
Order deliveries and progress against the fiscal 2027 revenue outlook.
Major risk
Customer timing, acquisition obligations and a falling valuation could erase upside.
Editorial grades · October 6 assessment
Same rubric for every selected company. Business is demonstrated traction; Catalyst is the timing and clarity of a test, not its chance of success. Target path changes with the target burden.
2x Conviction
Business · B
An actual AI production order and backlog establish an early commercial test inflection, still concentrated.
Catalyst · A
Order delivery and the fiscal 2027 outlook offer a concrete commercialization window; named-customer speculation is excluded.
Target path · C
An explicit bull barely reaches a double at an extreme earnings multiple; a small equity-pay change removes the crossing.
Strongest countercase
Extreme profit multiples, customer timing and acquisition obligations amplify downside.
Confidence & coverage
Low for target touch and adjacent ordering; moderate for the descriptive assessment of retained facts. Retained native financial and source detail preserved; existing holds and sensitivities still apply.
5x Moonshots
Business · B
An actual AI production order and backlog establish an early commercial test inflection, still concentrated.
Catalyst · A
Order delivery and the fiscal 2027 outlook offer a concrete commercialization window; named-customer speculation is excluded.
Target path · C
An early paid-order base offers convexity; fivefold still requires substantially more orders and profit or an exceptional multiple.
Strongest countercase
Extreme profit multiples, customer timing and acquisition obligations amplify downside.
Confidence & coverage
Low for target touch and adjacent ordering; moderate for the descriptive assessment of retained facts. Retained native financial and source detail preserved; existing holds and sensitivities still apply.
Grade evidence & preserved research grades
Editorial reader v2 is separate from native financial certification. The original conservative evidence/path grades below have not been upgraded or overwritten.
2x Conviction original research grades
Evidence: B; operating pathway: C; feasibility: stretch.
5x Moonshots original research grades
Evidence: B; operating pathway: C; feasibility: heroic.
- valuation.sectorBridge.epsReportedPrecision
Published: 2026-07-27 · Retrieved: 2026-10-02T10:00:40.580596+00:00 - originalPassages.AEHR-passage-66
Published: 2026-07-14 · Retrieved: 2026-10-02T04:54:48.349823+00:00 - originalPassages.AEHR-passage-67
Published: 2026-08-12 · Retrieved: 2026-10-02T04:54:49.682413+00:00 - originalPassages.AEHR-passage-68
Published: 2026-08-04 · Retrieved: 2026-10-02T04:54:51.044838+00:00
Detailed research, valuation assumptions & sources
Thesis
Actual $22M AI production order, $100.6M effective backlog and public FY27 $130–150M revenue guide ground the test inflection; named GPU-customer speculation is excluded.
Independent economic outcome
Accept four scoped semantic/withinbudgetcash/forwardclaimidentity deltas as analystconditional operativeinterpretation, not issuerquantifiedfuturebudget/legalcashlesselection, nativeconformance orinvestmentapproval. Core/source/originalfinancialmodels/quotes andoldnativecards untouched. Positive modeled cash bound onlywithin8Mfuturecash component/in-horizonpayment/liability assumptions; >8M/remeasurement/out-of-horizon invalidatesbound. No repeatedhistorical0.570Mpayment; ownerincome/price unchanged. Archived native failure count 38 remains. No remaining fixable 0040 interpretation residue; conditional current stock/EPS/fullnative unknowns are NOT resolved or newly guaranteed.
Expectations gap
No independently matched current consensus-baseline mispricing is asserted. Retained $204.067 bull barely exceeds $203.20 double target at 156.045x owner-earnings proxy. SBC $10M instead of $8M drops price to $195.150; this fragile but explicit near-double route ranks above cloud financing tails.
Confidence and limitations
Source-backedrelativebusinesscomparison; exactadjacentorderandfutureprice realization uncertain. Lowabsolutechanceisnotanadmissionban. Qualified/limited forward evidence; low comparative confidence, especially pricing, recognition or common-owner funding. Retained actual facts remain distinct from hypotheses. Stock-wide label uses most cautious genuine parent tier judgment; per-membership judgments preserved.
- Qualitative editorial likelihood ordering only; no numeric probabilities, no mechanically calibrated source grade, no issuer future assurance. Adjacent order is low-confidence within the disclosed close-comparison bands.
- No calibrated absolute hit probabilities or independently matched current consensus baseline; relative ordering uses qualified evidence, not a measured expectations gap.
- Ramp realization, pricing/acceptance or common-owner funding has material unquantified elements; management targets/analyst hypotheses are not delivered revenue.
- Native schema/interface historical holds remain archived. Unresolved economic cash/current-capital/accounting facts lower confidence; absent adapter EPS/cashDate alone does not label issuer uninvestable.
- SBC, amortization, contingent Sonoma cash and claims are retained. Positive modeled cash is bounded by $8M future cash component/timing assumptions; more liability or earlier uses invalidate it. Multiple compression can cause severe downside.
Catalysts & disconfirmation
Actual $22M AI production order, $100.6M effective backlog and public FY27 $130–150M revenue guide ground the test inflection; named GPU-customer speculation is excluded.
2026-10-01 to 2027-09-30; editorial-monitoring-checkpoint; exact future announcement dates unverified · Retainedprimaryreportedcommercialfacts supportmechanism; forwardpaidrecognition/funding notguaranteed. BnotA; no automaticnative-score conversion. · Upgrade: Confirm paid recognized delivery and common-owner economics within the retained operating window, not merely capacity/backlog/pilot publicity. Requires the additional recognition, recurring-profit/multiple retention and funded common-claim outcomes stated in targetPath. Existing near-double or alternative cases are identified, never silently merged into original bull. · Cut: Failure of the retained paid-recognition or recurring-owner-economics path, multiple compression, delayed catalyst or additional cash/claim burden would invalidate this route. SBC, amortization, contingent Sonoma cash and claims are retained. Positive modeled cash is bounded by $8M future cash component/timing assumptions; more liability or earlier uses invalidate it. Multiple compression can cause severe downside.
Bear case
Failure of the retained paid-recognition or recurring-owner-economics path, multiple compression, delayed catalyst or additional cash/claim burden would invalidate this route. SBC, amortization, contingent Sonoma cash and claims are retained. Positive modeled cash is bounded by $8M future cash component/timing assumptions; more liability or earlier uses invalidate it. Multiple compression can cause severe downside.
Retained financial routes — not target odds
Original financial hypotheses remain unchanged. Native disposition, independent WATCH and current editorial selection are distinct.
AEHR · Native blocked / Independent Accept four scoped semantic/withinbudgetcash/forwardclaimidentity deltas as analystconditional operativeinterpretation, not issuerquantifiedfuturebudget/legalcashlesselection, nativeconformance orinvestmentapproval. Core/source/originalfinancialmodels/quotes andoldnativecards untouched.
Economic outcome
Accept four scoped semantic/withinbudgetcash/forwardclaimidentity deltas as analystconditional operativeinterpretation, not issuerquantifiedfuturebudget/legalcashlesselection, nativeconformance orinvestmentapproval. Core/source/originalfinancialmodels/quotes andoldnativecards untouched. Positive modeled cash bound onlywithin8Mfuturecash component/in-horizonpayment/liability assumptions; >8M/remeasurement/out-of-horizon invalidatesbound. No repeatedhistorical0.570Mpayment; ownerincome/price unchanged. Archived native failure count 38 remains. No remaining fixable 0040 interpretation residue; conditional current stock/EPS/fullnative unknowns are NOT resolved or newly guaranteed.
Accounting and period
GAAP; actual/analyst-normalized classifications and source scope preserved individually · Exact original source measurement and forward cash windows; analysis/review dates separate · USD million for operative four-name model fields; explicitly USD for original native financial totals
native.financials.convertibleConversionPrice
Not provided/true unknown in exact original input; no zero or issuer certification substituted
Measured/derived historical revenue, owner income and cash — operative labels
Recognized revenue — original measurement period
50.001 USD million · derived · Qualification Q1 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
ebit
-14.149 USD million · derived · Qualification Q1 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
Net income attributable to common — stated preferred treatment
-7.126 USD million · derived · Qualification Q1 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
group NI
-7.126 USD million · derived · Qualification Q1 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
Operating cash flow — stated period and case
-3.31 USD million · derived · Qualification Q1 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
cash PPE
2.066 USD million · derived · Qualification Q1 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
sbc Cfo Addback
6.761 USD million · derived · Qualification Q1 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
employee Proceeds
2.2 USD million · derived · Qualification Q1 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
employee Withholding
2.384 USD million · derived · Qualification Q1 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
CURRENT operative cash: matched / front-loaded / terminal / existing50M stress
Matched payment minimum available cash
64.50411000000001 USD million · forecast · Qualification Q2 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2027-09-30', 'basis': 'Actual saved economic365day forecast horizon'} ·
Front-loaded payment minimum available cash
59.78411000000001 USD million · forecast · Qualification Q2 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2027-09-30', 'basis': 'Actual saved economic365day forecast horizon'} ·
Terminal cash — upper existing-budget cash component
97.55900000000003 USD million · forecast · Qualification Q2 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2027-09-30', 'basis': 'Actual saved economic365day forecast horizon'} ·
Existing additional50M stress — operative cash minimum
9.784110000000005 USD million · forecast · Qualification Q2 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2027-09-30', 'basis': 'Actual saved economic365day forecast horizon'} ·
Core measured historical financials — dates and attribution retained
Recognized revenue — original measurement period
50001000 USD (original native monetary scale) · actual · Qualification Q3 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
operating Margin
-0.28297434051318976 fraction · derived · Qualification Q4 below. Historical source context only; exact immutable field-origin/proof mapping retained. · Source-bound modeling interpretation of original reported context/measurement/price; no claim of exact quote-day liquidity or fully diluted stock. Cash-only116.358m excludes.150m restricted. No financial borrowings in actual annual balance/liability notes; operating leases9.882m stay operating costs, not debt. Stub not reported FY27 Q1 cash.
Reported unrestricted cash — measured, dated
116358000 USD · actual · Qualification Q5 below. Historical source context only; exact immutable field-origin/proof mapping retained. · Source-bound modeling interpretation of original reported context/measurement/price; no claim of exact quote-day liquidity or fully diluted stock. Cash-only116.358m excludes.150m restricted. No financial borrowings in actual annual balance/liability notes; operating leases9.882m stay operating costs, not debt. Stub not reported FY27 Q1 cash.
debt
0 USD · actual · Qualification Q6 below. Historical source context only; exact immutable field-origin/proof mapping retained. · Source-bound modeling interpretation of original reported context/measurement/price; no claim of exact quote-day liquidity or fully diluted stock. Cash-only116.358m excludes.150m restricted. No financial borrowings in actual annual balance/liability notes; operating leases9.882m stay operating costs, not debt. Stub not reported FY27 Q1 cash.
Dated measured ordinary shares — NOT current fully diluted
32620450 ordinary-shares · actual · Qualification Q7 below. Historical source context only; exact immutable field-origin/proof mapping retained. · Source-bound modeling interpretation of original reported context/measurement/price; no claim of exact quote-day liquidity or fully diluted stock. Cash-only116.358m excludes.150m restricted. No financial borrowings in actual annual balance/liability notes; operating leases9.882m stay operating costs, not debt. Stub not reported FY27 Q1 cash.
shares At
2026-07-20 text · not-applicable · Qualification Q4 below. Historical source context only; exact immutable field-origin/proof mapping retained. · Source-bound modeling interpretation of original reported context/measurement/price; no claim of exact quote-day liquidity or fully diluted stock. Cash-only116.358m excludes.150m restricted. No financial borrowings in actual annual balance/liability notes; operating leases9.882m stay operating costs, not debt. Stub not reported FY27 Q1 cash.
convertible Incremental Shares
0 ordinary-shares · assumption · Qualification Q4 below. Historical source context only; exact immutable field-origin/proof mapping retained. · Source-bound modeling interpretation of original reported context/measurement/price; no claim of exact quote-day liquidity or fully diluted stock. Cash-only116.358m excludes.150m restricted. No financial borrowings in actual annual balance/liability notes; operating leases9.882m stay operating costs, not debt. Stub not reported FY27 Q1 cash.
convertible Debt Removed
0 USD · assumption · Qualification Q4 below. Historical source context only; exact immutable field-origin/proof mapping retained. · Source-bound modeling interpretation of original reported context/measurement/price; no claim of exact quote-day liquidity or fully diluted stock. Cash-only116.358m excludes.150m restricted. No financial borrowings in actual annual balance/liability notes; operating leases9.882m stay operating costs, not debt. Stub not reported FY27 Q1 cash.
convertible Cash Settlement
0 USD · assumption · Qualification Q4 below. Historical source context only; exact immutable field-origin/proof mapping retained. · Source-bound modeling interpretation of original reported context/measurement/price; no claim of exact quote-day liquidity or fully diluted stock. Cash-only116.358m excludes.150m restricted. No financial borrowings in actual annual balance/liability notes; operating leases9.882m stay operating costs, not debt. Stub not reported FY27 Q1 cash.
post Balance Cash Change
-13769999.999999996 USD · assumption · Qualification Q4 below. Historical source context only; exact immutable field-origin/proof mapping retained. · Exact formula note Q8 in route shared notes
post Balance Debt Change
0 USD · assumption · Qualification Q4 below. Historical source context only; exact immutable field-origin/proof mapping retained. · Exact formula note Q9 in route shared notes
ownership Liability
0 USD · assumption · Qualification Q4 below. Historical source context only; exact immutable field-origin/proof mapping retained. · Exact formula note Q10 in route shared notes
cash Ownership Fraction
1 fraction · assumption · Qualification Q4 below. Historical source context only; exact immutable field-origin/proof mapping retained. · Exact formula note Q11 in route shared notes
cash Nci Deduction
0 USD · assumption · Qualification Q4 below. Historical source context only; exact immutable field-origin/proof mapping retained. · Exact formula note Q12 in route shared notes
cash Jv Contribution
0 USD · assumption · Qualification Q4 below. Historical source context only; exact immutable field-origin/proof mapping retained. · Exact formula note Q13 in route shared notes
cash Ownership Reconciliation
Consolidated economic group liquidity assumption only; outside claims kept separate, NOT factual parent distributability. Cash-only116.358m excludes.150m restricted. No financial borrowings in actual annual balance/liability notes; operating leases9.882m stay operating costs, not debt. Stub not reported FY27 Q1 cash. text · not-applicable · Qualification Q4 below. Historical source context only; exact immutable field-origin/proof mapping retained. · Exact formula note Q14 in route shared notes
post Balance Other Cash Change
0 USD · assumption · Qualification Q4 below. Historical source context only; exact immutable field-origin/proof mapping retained. · Exact formula note Q15 in route shared notes
eps
-0.23 USD/share · actual · Qualification Q4 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
shares
30669000 ordinary shares (explicit dated/weighted/analyst basis) · actual · Qualification Q4 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
Material Provided valuation
reported Amount
-7126000 USD (original native monetary scale) · actual · Qualification Q16 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
ownership Fraction
1 fraction · assumption · Qualification Q16 below. Historical source context only; exact immutable field-origin/proof mapping retained. · Retained common-income ownership interpretation; no second group-profit haircut, and no forecast historical-normalization replacement.
nci Deduction
0 USD · assumption · Qualification Q16 below. Historical source context only; exact immutable field-origin/proof mapping retained. · Retained common-income ownership interpretation; no second group-profit haircut, and no forecast historical-normalization replacement.
jv Contribution
0 USD · assumption · Qualification Q16 below. Historical source context only; exact immutable field-origin/proof mapping retained. · Retained common-income ownership interpretation; no second group-profit haircut, and no forecast historical-normalization replacement.
annual Period
2025-05-31/2026-05-29 text · not-applicable · Qualification Q16 below. Historical source context only; exact immutable field-origin/proof mapping retained. · Retained common-income ownership interpretation; no second group-profit haircut, and no forecast historical-normalization replacement.
reconciliation
Original GAAP common numerator already excludes outside owners. Baseline recurring normalization/exclusions require separate source-bound bridge; none of the forward owner-income amounts is inserted here. text · not-applicable · Qualification Q16 below. Historical source context only; exact immutable field-origin/proof mapping retained. · Retained common-income ownership interpretation; no second group-profit haircut, and no forecast historical-normalization replacement.
eps Reported Precision
2 USD/share · actual · Qualification Q16 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
sector
semiconductor test equipment text · not-applicable · Qualification Q16 below. Historical source context only; exact immutable field-origin/proof mapping retained. · Exact formula note Q17 in route shared notes
metric
P/normalizedEPS text · not-applicable · Qualification Q16 below. Historical source context only; exact immutable field-origin/proof mapping retained. · Exact formula note Q18 in route shared notes
reference Multiple
165.62906897676876 x · assumption · Qualification Q16 below. Historical source context only; exact immutable field-origin/proof mapping retained. · Exact formula note Q19 in route shared notes
multiple Low
60 x · assumption · Qualification Q16 below. Historical source context only; exact immutable field-origin/proof mapping retained. · Exact formula note Q20 in route shared notes
multiple High
165.62906897676876 x · assumption · Qualification Q16 below. Historical source context only; exact immutable field-origin/proof mapping retained. · Exact formula note Q21 in route shared notes
justification
Full costguideproxy =28mnonGAAPmidNI -6.761mactualSBC -1.229mactualannualamort =20.01m, a reviewedhypothesis, NOT issuerGAAPguide. Datedequity3314.2377m/20.01m=165.6291x. RetainedpriorSBC-onlyproxy156.0449x ischosencompression,not fullcompatible reference. Bull55mnonGAAPNI -8mSBC -1.229mamort =45.771m GAAP-stylecommonNI,35mclaims gives204.0666 at156.0449x, narrowlyabove2x203.2. AtSBC10m routefails2x.118.3656xadjustedguidePE isnot comparable recurringGAAPPE;60xcompressioncannotaloneveto the operatingcountercase. A premium this high needsmultipleyears oforder-ledgrowth; nocertifiedpeerupperquartile exists. text · not-applicable · Qualification Q16 below. Historical source context only; exact immutable field-origin/proof mapping retained. · Exact formula note Q22 in route shared notes
model Fit
unsupported text · not-applicable · Qualification Q16 below. Historical source context only; exact immutable field-origin/proof mapping retained. · Retained AEHR analyst valuation interpretation: Genuine May29balance is125daysbeforeOct1quote. Unchangednativeguardrequires<=120days; elapsedcashhypothesis cannot relabelactualmeasurement toSeptember. SECsubmissionsquery+issuersearchfoundnonewerquarterrelease inrecord. Source mapping complete, supportedmodel stock-freshnessadapter rejects this evidence shape.
equity Pricing Scope
owners-metric-all-assets-no-cash-delta text · not-applicable · Qualification Q16 below. Historical source context only; exact immutable field-origin/proof mapping retained. · Retained P/E values capitalize the complete common owner-income hypothesis; do not add net cash or cash change a second time.
equity Pricing Rationale
BullcashCFO58.771m includesSBCnoncash8m andDA5m, but inventories/receivablesWC45m absorb cash;10mPPEand3memployee withholdingseparate2.2memployeeproceedsfinancing. VestedcashSAR.570m paidinelapsedstub; nodilutionor repeatedprice-dependentrevaluationofthealreadyvestedMayclaim.35mfuturegrossallowance notcurrentfullydilutedtruth. Zero debt/source-reviewedno-convert; operatinglease9.882 staysrentalcash,notconvertibleprincipal. text · not-applicable · Qualification Q16 below. Historical source context only; exact immutable field-origin/proof mapping retained. · Actual retained all-assets owner-income pricing choice; cash is a funding test, not a second price addend.
Bounded source/proof detail — exact archive, NOT financial assumptions
full Archive
[internal evidence reference] artifact path · not-applicable · Qualification Q23 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
full Archive SHA
1900d87c2fa2ab79b937fa9292636486e5e4f5dc6563f1428e5fb468080e4b73 SHA256 · not-applicable · Qualification Q24 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
PRE_CORRECTION reference — NOT live operative cash
PRE_CORRECTION all-noncash reference ONLY — minimum
67.78411000000001 USD million · not-applicable · Qualification Q25 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
PRE_CORRECTION all-noncash reference ONLY — terminal
105.55900000000003 USD million · not-applicable · Qualification Q25 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
All three upside hurdles — required revenue / owner income / valuation / claims
factor — original reverse hurdle
1.35 fraction / ratio · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
target Price USD — original reverse hurdle
137.15999794006348 USD/share · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
multiple — original reverse hurdle
156.04490184213677 valuation multiple x · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
required Recognized Revenue USDm — original reverse hurdle
159.97288609445914 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
required Revenue Factor Vs Bull — original reverse hurdle
0.7271494822475415 fraction / ratio · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
ordinary M — original reverse hurdle
32.62045 million ordinary shares — finite analyst allowance, not exactcurrentFD · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
total Shares M — original reverse hurdle
35 million ordinary shares — finite analyst allowance, not exactcurrentFD · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
forward Incremental Allowance M — original reverse hurdle
2.379550000000002 million ordinary shares — finite analyst allowance, not exactcurrentFD · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
not Exact Fully Diluted — original reverse hurdle
true retained context / applicability · not-applicable · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
exercise Cash USDm — original reverse hurdle
0 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
convertible Shares M — original reverse hurdle
0 million ordinary shares — finite analyst allowance, not exactcurrentFD · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
convertible Debt Removed — original reverse hurdle
0 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
conversion Cash Settlement — original reverse hurdle
0 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
conversion Price — original reverse hurdle
Unknown (null) USD/share · unknown · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
no Convert Treatment — original reverse hurdle
none retained context / applicability · not-applicable · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
applicability — original reverse hurdle
source-reviewed no outstanding convertible financing in retained balance/debt notes; options/RSUs remain separate employee claims retained context / applicability · not-applicable · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
terminal Shares M — original reverse hurdle
35 million ordinary shares — finite analyst allowance, not exactcurrentFD · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
required Common NIUSDm — original reverse hurdle
30.76422152361478 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
required Owner Income USDm — original reverse hurdle
30.76422152361478 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
required Owner EPS — original reverse hurdle
0.8789777578175652 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
required GAAPOperating Margin At Fixed Bull Margin — original reverse hurdle
0.22163303901126852 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
cash Minimum At Reverse Case — original reverse hurdle
61.63133082468207 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
cash At Reverse Case Pre Exercises — original reverse hurdle
90.55222152361479 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
equity USDm At Target — original reverse hurdle
4800.599927902222 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
terminal Cash Post Exercises — original reverse hurdle
90.55222152361479 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
reverse Solved Price USD — original reverse hurdle
137.15999794006342 USD/share · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
recognition Not Capacity Or ARR — original reverse hurdle
true retained context / applicability · not-applicable · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
not Forecast — original reverse hurdle
true retained context / applicability · not-applicable · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
target Price USD — original reverse hurdle
137.15999794006348 USD/share · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
multiple — original reverse hurdle
165.62906897676876 valuation multiple x · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
required Recognized Revenue USDm — original reverse hurdle
152.8521688756593 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
required Revenue Factor Vs Bull — original reverse hurdle
0.6947825857984513 fraction / ratio · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
ordinary M — original reverse hurdle
32.62045 million ordinary shares — finite analyst allowance, not exactcurrentFD · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
total Shares M — original reverse hurdle
35 million ordinary shares — finite analyst allowance, not exactcurrentFD · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
forward Incremental Allowance M — original reverse hurdle
2.379550000000002 million ordinary shares — finite analyst allowance, not exactcurrentFD · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
not Exact Fully Diluted — original reverse hurdle
true retained context / applicability · not-applicable · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
exercise Cash USDm — original reverse hurdle
0 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
convertible Shares M — original reverse hurdle
0 million ordinary shares — finite analyst allowance, not exactcurrentFD · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
convertible Debt Removed — original reverse hurdle
0 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
conversion Cash Settlement — original reverse hurdle
0 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
conversion Price — original reverse hurdle
Unknown (null) USD/share · unknown · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
no Convert Treatment — original reverse hurdle
none retained context / applicability · not-applicable · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
applicability — original reverse hurdle
source-reviewed no outstanding convertible financing in retained balance/debt notes; options/RSUs remain separate employee claims retained context / applicability · not-applicable · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
terminal Shares M — original reverse hurdle
35 million ordinary shares — finite analyst allowance, not exactcurrentFD · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
required Common NIUSDm — original reverse hurdle
28.984042218914823 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
required Owner Income USDm — original reverse hurdle
28.984042218914823 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
required Owner EPS — original reverse hurdle
0.8281154919689949 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
required GAAPOperating Margin At Fixed Bull Margin — original reverse hurdle
0.21739994282106126 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
cash Minimum At Reverse Case — original reverse hurdle
60.901457309755074 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
cash At Reverse Case Pre Exercises — original reverse hurdle
88.77204221891482 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
equity USDm At Target — original reverse hurdle
4800.599927902222 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
terminal Cash Post Exercises — original reverse hurdle
88.77204221891482 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
reverse Solved Price USD — original reverse hurdle
137.15999794006345 USD/share · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
recognition Not Capacity Or ARR — original reverse hurdle
true retained context / applicability · not-applicable · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
not Forecast — original reverse hurdle
true retained context / applicability · not-applicable · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
target Price USD — original reverse hurdle
137.15999794006348 USD/share · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
multiple — original reverse hurdle
60 valuation multiple x · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
required Recognized Revenue USDm — original reverse hurdle
356.95599519348144 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
required Revenue Factor Vs Bull — original reverse hurdle
1.622527250879461 fraction / ratio · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
ordinary M — original reverse hurdle
32.62045 million ordinary shares — finite analyst allowance, not exactcurrentFD · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
total Shares M — original reverse hurdle
35 million ordinary shares — finite analyst allowance, not exactcurrentFD · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
forward Incremental Allowance M — original reverse hurdle
2.379550000000002 million ordinary shares — finite analyst allowance, not exactcurrentFD · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
not Exact Fully Diluted — original reverse hurdle
true retained context / applicability · not-applicable · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
exercise Cash USDm — original reverse hurdle
0 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
convertible Shares M — original reverse hurdle
0 million ordinary shares — finite analyst allowance, not exactcurrentFD · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
convertible Debt Removed — original reverse hurdle
0 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
conversion Cash Settlement — original reverse hurdle
0 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
conversion Price — original reverse hurdle
Unknown (null) USD/share · unknown · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
no Convert Treatment — original reverse hurdle
none retained context / applicability · not-applicable · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
applicability — original reverse hurdle
source-reviewed no outstanding convertible financing in retained balance/debt notes; options/RSUs remain separate employee claims retained context / applicability · not-applicable · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
terminal Shares M — original reverse hurdle
35 million ordinary shares — finite analyst allowance, not exactcurrentFD · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
required Common NIUSDm — original reverse hurdle
80.00999879837036 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
required Owner Income USDm — original reverse hurdle
80.00999879837036 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
required Owner EPS — original reverse hurdle
2.285999965667725 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
required GAAPOperating Margin At Fixed Bull Margin — original reverse hurdle
0.27177719327946603 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
cash Minimum At Reverse Case — original reverse hurdle
76.62979978370667 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
cash At Reverse Case Pre Exercises — original reverse hurdle
139.79799879837037 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
equity USDm At Target — original reverse hurdle
4800.599927902222 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
terminal Cash Post Exercises — original reverse hurdle
139.79799879837037 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
reverse Solved Price USD — original reverse hurdle
137.15999794006348 USD/share · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
recognition Not Capacity Or ARR — original reverse hurdle
true retained context / applicability · not-applicable · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
not Forecast — original reverse hurdle
true retained context / applicability · not-applicable · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
bull Mathematically Crosses — original reverse hurdle
true retained context / applicability · not-applicable · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
not Final Admission — original reverse hurdle
true retained context / applicability · not-applicable · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
assessment — original reverse hurdle
conditional-watch: source-ledorderinflectionsupportsaresearchable170m+recognitionrouteattransitionpremium;fundingpositiveinmodel, not provenfactoryforecast. retained context / applicability · not-applicable · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
eligible — original reverse hurdle
Unknown (null) USD million · unknown · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
final Classification Owner — original reverse hurdle
parent-independent-review retained context / applicability · not-applicable · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
factor — original reverse hurdle
2 fraction / ratio · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
target Price USD — original reverse hurdle
203.1999969482422 USD/share · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
multiple — original reverse hurdle
156.04490184213677 valuation multiple x · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
required Recognized Revenue USDm — original reverse hurdle
219.22249791771728 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
required Revenue Factor Vs Bull — original reverse hurdle
0.9964658996259876 fraction / ratio · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
ordinary M — original reverse hurdle
32.62045 million ordinary shares — finite analyst allowance, not exactcurrentFD · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
total Shares M — original reverse hurdle
35 million ordinary shares — finite analyst allowance, not exactcurrentFD · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
forward Incremental Allowance M — original reverse hurdle
2.379550000000002 million ordinary shares — finite analyst allowance, not exactcurrentFD · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
not Exact Fully Diluted — original reverse hurdle
true retained context / applicability · not-applicable · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
exercise Cash USDm — original reverse hurdle
0 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
convertible Shares M — original reverse hurdle
0 million ordinary shares — finite analyst allowance, not exactcurrentFD · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
convertible Debt Removed — original reverse hurdle
0 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
conversion Cash Settlement — original reverse hurdle
0 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
conversion Price — original reverse hurdle
Unknown (null) USD/share · unknown · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
no Convert Treatment — original reverse hurdle
none retained context / applicability · not-applicable · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
applicability — original reverse hurdle
source-reviewed no outstanding convertible financing in retained balance/debt notes; options/RSUs remain separate employee claims retained context / applicability · not-applicable · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
terminal Shares M — original reverse hurdle
35 million ordinary shares — finite analyst allowance, not exactcurrentFD · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
required Common NIUSDm — original reverse hurdle
45.57662447942932 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
required Owner Income USDm — original reverse hurdle
45.57662447942932 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
required Owner EPS — original reverse hurdle
1.3021892708408378 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
required GAAPOperating Margin At Fixed Bull Margin — original reverse hurdle
0.24619179651690667 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
cash Minimum At Reverse Case — original reverse hurdle
67.70441603656603 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
cash At Reverse Case Pre Exercises — original reverse hurdle
105.36462447942932 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
equity USDm At Target — original reverse hurdle
7111.999893188477 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
terminal Cash Post Exercises — original reverse hurdle
105.36462447942932 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
reverse Solved Price USD — original reverse hurdle
203.19999694824216 USD/share · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
recognition Not Capacity Or ARR — original reverse hurdle
true retained context / applicability · not-applicable · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
not Forecast — original reverse hurdle
true retained context / applicability · not-applicable · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
target Price USD — original reverse hurdle
203.1999969482422 USD/share · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
multiple — original reverse hurdle
165.62906897676876 valuation multiple x · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
required Recognized Revenue USDm — original reverse hurdle
208.67328722319897 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
required Revenue Factor Vs Bull — original reverse hurdle
0.9485149419236316 fraction / ratio · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
ordinary M — original reverse hurdle
32.62045 million ordinary shares — finite analyst allowance, not exactcurrentFD · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
total Shares M — original reverse hurdle
35 million ordinary shares — finite analyst allowance, not exactcurrentFD · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
forward Incremental Allowance M — original reverse hurdle
2.379550000000002 million ordinary shares — finite analyst allowance, not exactcurrentFD · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
not Exact Fully Diluted — original reverse hurdle
true retained context / applicability · not-applicable · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
exercise Cash USDm — original reverse hurdle
0 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
convertible Shares M — original reverse hurdle
0 million ordinary shares — finite analyst allowance, not exactcurrentFD · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
convertible Debt Removed — original reverse hurdle
0 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
conversion Cash Settlement — original reverse hurdle
0 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
conversion Price — original reverse hurdle
Unknown (null) USD/share · unknown · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
no Convert Treatment — original reverse hurdle
none retained context / applicability · not-applicable · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
applicability — original reverse hurdle
source-reviewed no outstanding convertible financing in retained balance/debt notes; options/RSUs remain separate employee claims retained context / applicability · not-applicable · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
terminal Shares M — original reverse hurdle
35 million ordinary shares — finite analyst allowance, not exactcurrentFD · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
required Common NIUSDm — original reverse hurdle
42.939321805799736 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
required Owner Income USDm — original reverse hurdle
42.939321805799736 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
required Owner EPS — original reverse hurdle
1.2268377658799925 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
required GAAPOperating Margin At Fixed Bull Margin — original reverse hurdle
0.2428396702403414 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
cash Minimum At Reverse Case — original reverse hurdle
66.6231219403779 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
cash At Reverse Case Pre Exercises — original reverse hurdle
102.72732180579975 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
equity USDm At Target — original reverse hurdle
7111.999893188477 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
terminal Cash Post Exercises — original reverse hurdle
102.72732180579975 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
reverse Solved Price USD — original reverse hurdle
203.19999694824216 USD/share · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
recognition Not Capacity Or ARR — original reverse hurdle
true retained context / applicability · not-applicable · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
not Forecast — original reverse hurdle
true retained context / applicability · not-applicable · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
target Price USD — original reverse hurdle
203.1999969482422 USD/share · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
multiple — original reverse hurdle
60 valuation multiple x · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
required Recognized Revenue USDm — original reverse hurdle
511.049326212565 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
required Revenue Factor Vs Bull — original reverse hurdle
2.3229514827843865 fraction / ratio · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
ordinary M — original reverse hurdle
32.62045 million ordinary shares — finite analyst allowance, not exactcurrentFD · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
total Shares M — original reverse hurdle
35 million ordinary shares — finite analyst allowance, not exactcurrentFD · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
forward Incremental Allowance M — original reverse hurdle
2.379550000000002 million ordinary shares — finite analyst allowance, not exactcurrentFD · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
not Exact Fully Diluted — original reverse hurdle
true retained context / applicability · not-applicable · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
exercise Cash USDm — original reverse hurdle
0 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
convertible Shares M — original reverse hurdle
0 million ordinary shares — finite analyst allowance, not exactcurrentFD · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
convertible Debt Removed — original reverse hurdle
0 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
conversion Cash Settlement — original reverse hurdle
0 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
conversion Price — original reverse hurdle
Unknown (null) USD/share · unknown · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
no Convert Treatment — original reverse hurdle
none retained context / applicability · not-applicable · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
applicability — original reverse hurdle
source-reviewed no outstanding convertible financing in retained balance/debt notes; options/RSUs remain separate employee claims retained context / applicability · not-applicable · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
terminal Shares M — original reverse hurdle
35 million ordinary shares — finite analyst allowance, not exactcurrentFD · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
required Common NIUSDm — original reverse hurdle
118.53333155314125 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
required Owner Income USDm — original reverse hurdle
118.53333155314125 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
required Owner EPS — original reverse hurdle
3.3866666158040357 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
required GAAPOperating Margin At Fixed Bull Margin — original reverse hurdle
0.28405607246813236 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
cash Minimum At Reverse Case — original reverse hurdle
82.58800000000001 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
cash At Reverse Case Pre Exercises — original reverse hurdle
178.32133155314125 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
equity USDm At Target — original reverse hurdle
7111.999893188477 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
terminal Cash Post Exercises — original reverse hurdle
178.32133155314125 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
reverse Solved Price USD — original reverse hurdle
203.19999694824213 USD/share · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
recognition Not Capacity Or ARR — original reverse hurdle
true retained context / applicability · not-applicable · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
not Forecast — original reverse hurdle
true retained context / applicability · not-applicable · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
bull Mathematically Crosses — original reverse hurdle
true retained context / applicability · not-applicable · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
not Final Admission — original reverse hurdle
true retained context / applicability · not-applicable · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
assessment — original reverse hurdle
conditional-watch-sensitive:220m/25% less8mSBC and1.229mamortbarelycrosses2xat156x. Paid/shippedorders,aboveguideexecution,existingaward/newgrantsharesandpremiumretentionaredecisive. SBC10m or5%claims stressfails; noforcedqualification. retained context / applicability · not-applicable · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
eligible — original reverse hurdle
Unknown (null) USD million · unknown · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
final Classification Owner — original reverse hurdle
parent-independent-review retained context / applicability · not-applicable · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
factor — original reverse hurdle
5 fraction / ratio · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
target Price USD — original reverse hurdle
507.99999237060547 USD/share · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
multiple — original reverse hurdle
156.04490184213677 valuation multiple x · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
required Recognized Revenue USDm — original reverse hurdle
492.6822447942932 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
required Revenue Factor Vs Bull — original reverse hurdle
2.239464749064969 fraction / ratio · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
ordinary M — original reverse hurdle
32.62045 million ordinary shares — finite analyst allowance, not exactcurrentFD · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
total Shares M — original reverse hurdle
35 million ordinary shares — finite analyst allowance, not exactcurrentFD · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
forward Incremental Allowance M — original reverse hurdle
2.379550000000002 million ordinary shares — finite analyst allowance, not exactcurrentFD · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
not Exact Fully Diluted — original reverse hurdle
true retained context / applicability · not-applicable · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
exercise Cash USDm — original reverse hurdle
0 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
convertible Shares M — original reverse hurdle
0 million ordinary shares — finite analyst allowance, not exactcurrentFD · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
convertible Debt Removed — original reverse hurdle
0 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
conversion Cash Settlement — original reverse hurdle
0 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
conversion Price — original reverse hurdle
Unknown (null) USD/share · unknown · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
no Convert Treatment — original reverse hurdle
none retained context / applicability · not-applicable · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
applicability — original reverse hurdle
source-reviewed no outstanding convertible financing in retained balance/debt notes; options/RSUs remain separate employee claims retained context / applicability · not-applicable · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
terminal Shares M — original reverse hurdle
35 million ordinary shares — finite analyst allowance, not exactcurrentFD · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
required Common NIUSDm — original reverse hurdle
113.9415611985733 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
required Owner Income USDm — original reverse hurdle
113.9415611985733 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
required Owner EPS — original reverse hurdle
3.255473177102094 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
required GAAPOperating Margin At Fixed Bull Margin — original reverse hurdle
0.2829956893543642 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
cash Minimum At Reverse Case — original reverse hurdle
82.58800000000001 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
cash At Reverse Case Pre Exercises — original reverse hurdle
173.72956119857332 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
equity USDm At Target — original reverse hurdle
17779.99973297119 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
terminal Cash Post Exercises — original reverse hurdle
173.72956119857332 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
reverse Solved Price USD — original reverse hurdle
507.99999237060536 USD/share · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
recognition Not Capacity Or ARR — original reverse hurdle
true retained context / applicability · not-applicable · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
not Forecast — original reverse hurdle
true retained context / applicability · not-applicable · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
target Price USD — original reverse hurdle
507.99999237060547 USD/share · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
multiple — original reverse hurdle
165.62906897676876 valuation multiple x · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
required Recognized Revenue USDm — original reverse hurdle
466.3092180579974 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
required Revenue Factor Vs Bull — original reverse hurdle
2.119587354809079 fraction / ratio · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
ordinary M — original reverse hurdle
32.62045 million ordinary shares — finite analyst allowance, not exactcurrentFD · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
total Shares M — original reverse hurdle
35 million ordinary shares — finite analyst allowance, not exactcurrentFD · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
forward Incremental Allowance M — original reverse hurdle
2.379550000000002 million ordinary shares — finite analyst allowance, not exactcurrentFD · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
not Exact Fully Diluted — original reverse hurdle
true retained context / applicability · not-applicable · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
exercise Cash USDm — original reverse hurdle
0 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
convertible Shares M — original reverse hurdle
0 million ordinary shares — finite analyst allowance, not exactcurrentFD · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
convertible Debt Removed — original reverse hurdle
0 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
conversion Cash Settlement — original reverse hurdle
0 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
conversion Price — original reverse hurdle
Unknown (null) USD/share · unknown · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
no Convert Treatment — original reverse hurdle
none retained context / applicability · not-applicable · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
applicability — original reverse hurdle
source-reviewed no outstanding convertible financing in retained balance/debt notes; options/RSUs remain separate employee claims retained context / applicability · not-applicable · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
terminal Shares M — original reverse hurdle
35 million ordinary shares — finite analyst allowance, not exactcurrentFD · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
required Common NIUSDm — original reverse hurdle
107.34830451449936 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
required Owner Income USDm — original reverse hurdle
107.34830451449936 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
required Owner EPS — original reverse hurdle
3.067094414699982 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
required GAAPOperating Margin At Fixed Bull Margin — original reverse hurdle
0.2813270155573205 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
cash Minimum At Reverse Case — original reverse hurdle
81.55069481260989 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
cash At Reverse Case Pre Exercises — original reverse hurdle
167.13630451449936 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
equity USDm At Target — original reverse hurdle
17779.99973297119 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
terminal Cash Post Exercises — original reverse hurdle
167.13630451449936 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
reverse Solved Price USD — original reverse hurdle
507.99999237060547 USD/share · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
recognition Not Capacity Or ARR — original reverse hurdle
true retained context / applicability · not-applicable · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
not Forecast — original reverse hurdle
true retained context / applicability · not-applicable · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
target Price USD — original reverse hurdle
507.99999237060547 USD/share · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
multiple — original reverse hurdle
60 valuation multiple x · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
required Recognized Revenue USDm — original reverse hurdle
1222.2493155314125 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
required Revenue Factor Vs Bull — original reverse hurdle
5.5556787069609666 fraction / ratio · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
ordinary M — original reverse hurdle
32.62045 million ordinary shares — finite analyst allowance, not exactcurrentFD · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
total Shares M — original reverse hurdle
35 million ordinary shares — finite analyst allowance, not exactcurrentFD · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
forward Incremental Allowance M — original reverse hurdle
2.379550000000002 million ordinary shares — finite analyst allowance, not exactcurrentFD · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
not Exact Fully Diluted — original reverse hurdle
true retained context / applicability · not-applicable · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
exercise Cash USDm — original reverse hurdle
0 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
convertible Shares M — original reverse hurdle
0 million ordinary shares — finite analyst allowance, not exactcurrentFD · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
convertible Debt Removed — original reverse hurdle
0 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
conversion Cash Settlement — original reverse hurdle
0 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
conversion Price — original reverse hurdle
Unknown (null) USD/share · unknown · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
no Convert Treatment — original reverse hurdle
none retained context / applicability · not-applicable · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
applicability — original reverse hurdle
source-reviewed no outstanding convertible financing in retained balance/debt notes; options/RSUs remain separate employee claims retained context / applicability · not-applicable · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
terminal Shares M — original reverse hurdle
35 million ordinary shares — finite analyst allowance, not exactcurrentFD · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
required Common NIUSDm — original reverse hurdle
296.3333288828532 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
required Owner Income USDm — original reverse hurdle
296.3333288828532 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
required Owner EPS — original reverse hurdle
8.466666539510092 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
required GAAPOperating Margin At Fixed Bull Margin — original reverse hurdle
0.3006069681812995 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
cash Minimum At Reverse Case — original reverse hurdle
82.58800000000001 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
cash At Reverse Case Pre Exercises — original reverse hurdle
356.1213288828532 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
equity USDm At Target — original reverse hurdle
17779.99973297119 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
terminal Cash Post Exercises — original reverse hurdle
356.1213288828532 USD million · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
reverse Solved Price USD — original reverse hurdle
507.99999237060547 USD/share · derived · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
recognition Not Capacity Or ARR — original reverse hurdle
true retained context / applicability · not-applicable · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
not Forecast — original reverse hurdle
true retained context / applicability · not-applicable · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
bull Mathematically Crosses — original reverse hurdle
false retained context / applicability · not-applicable · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
not Final Admission — original reverse hurdle
true retained context / applicability · not-applicable · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
assessment — original reverse hurdle
nonadmission-on-reviewed-operating-hypotheses:~493mrecognitionatselectedfullcostmarginsvastlyexceeds220mbull/guide; no sourcedmanufacturing/customermechanism. retained context / applicability · not-applicable · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
eligible — original reverse hurdle
Unknown (null) USD million · unknown · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
final Classification Owner — original reverse hurdle
parent-independent-review retained context / applicability · not-applicable · Qualification Q26 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
Shared financial qualifications — exact scopes/formulas, not numeric assumptions
Qualification Q1 — exact field scope
Original FY+matchedYTD or annual bridge; not reported trailing EPS Measurement/forecast period: {'start': '2025-05-31', 'end': '2026-05-29'}. scope / methodology text, not financial measure · not-applicable · Full exact original financial qualification, displayed once; affected rows reference this note. NOT bank/model/native certification. ·
Qualification Q2 — exact field scope
If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2027-09-30', 'basis': 'Actual saved economic365day forecast horizon'} scope / methodology text, not financial measure · not-applicable · Full exact original financial qualification, displayed once; affected rows reference this note. NOT bank/model/native certification. ·
Qualification Q3 — exact field scope
Original released annual measure scope / methodology text, not financial measure · not-applicable · Full exact original financial qualification, displayed once; affected rows reference this note. NOT bank/model/native certification. ·
Qualification Q4 — exact field scope
Exact retained native financials inputs. Review/source time, monetary/share basis and uncertainty are original. Typed native bookkeeping is NOT source truth or all-model-resolution certification. Original measurement {'start': '2025-05-31', 'end': '2026-05-29', 'basis': 'original retained financial measurement; native stock/share dates separately stated'}; dated balance/share values NOT quote-day cap-table guarantees. scope / methodology text, not financial measure · not-applicable · Full exact original financial qualification, displayed once; affected rows reference this note. NOT bank/model/native certification. ·
Qualification Q5 — exact field scope
DATED HISTORICAL issuer cash-only stock at 2026-05-29. Cash-only116.358m excludes.150m restricted. No financial borrowings in actual annual balance/liability notes; operating leases9.882m stay operating costs, not debt. Stub not reported FY27 Q1 cash. Analyst elapsed stub, ownership accessibility/currentbank/terminalclaim counts remain separate hypotheses; NOT guaranteed available Octobercash. scope / methodology text, not financial measure · not-applicable · Full exact original financial qualification, displayed once; affected rows reference this note. NOT bank/model/native certification. ·
Qualification Q6 — exact field scope
DATED HISTORICAL consolidated source-defined measurement/bridge at 2026-05-29. Cash-only116.358m excludes.150m restricted. No financial borrowings in actual annual balance/liability notes; operating leases9.882m stay operating costs, not debt. Stub not reported FY27 Q1 cash. Analyst elapsed stub, ownership accessibility/currentbank/terminalclaim counts remain separate hypotheses; NOT guaranteed available Octobercash. scope / methodology text, not financial measure · not-applicable · Full exact original financial qualification, displayed once; affected rows reference this note. NOT bank/model/native certification. ·
Qualification Q7 — exact field scope
DATED HISTORICAL consolidated source-defined measurement/bridge at 2026-07-20. Cash-only116.358m excludes.150m restricted. No financial borrowings in actual annual balance/liability notes; operating leases9.882m stay operating costs, not debt. Stub not reported FY27 Q1 cash. Analyst elapsed stub, ownership accessibility/currentbank/terminalclaim counts remain separate hypotheses; NOT guaranteed available Octobercash. scope / methodology text, not financial measure · not-applicable · Full exact original financial qualification, displayed once; affected rows reference this note. NOT bank/model/native certification. ·
Formula qualification Q8
Formula for native.financials.postBalanceCashChange: Exact retained elapsed/economic cash-scope hypothesis; postBalanceCashChange already contains all stub uses; postBalanceOtherCashChange zero means no ADDITIONAL duplicated stub use, not no actual transactions. Cash-only116.358m excludes.150m restricted. No financial borrowings in actual annual balance/liability notes; operating leases9.882m stay operating costs, not debt. Stub not reported FY27 Q1 cash. exact formula/method text · not-applicable · Exact original formula retained once, not a new financial computation ·
Formula qualification Q9
Formula for native.financials.postBalanceDebtChange: Exact retained elapsed/economic cash-scope hypothesis; postBalanceCashChange already contains all stub uses; postBalanceOtherCashChange zero means no ADDITIONAL duplicated stub use, not no actual transactions. Cash-only116.358m excludes.150m restricted. No financial borrowings in actual annual balance/liability notes; operating leases9.882m stay operating costs, not debt. Stub not reported FY27 Q1 cash. exact formula/method text · not-applicable · Exact original formula retained once, not a new financial computation ·
Formula qualification Q10
Formula for native.financials.ownershipLiability: Exact retained elapsed/economic cash-scope hypothesis; postBalanceCashChange already contains all stub uses; postBalanceOtherCashChange zero means no ADDITIONAL duplicated stub use, not no actual transactions. Cash-only116.358m excludes.150m restricted. No financial borrowings in actual annual balance/liability notes; operating leases9.882m stay operating costs, not debt. Stub not reported FY27 Q1 cash. exact formula/method text · not-applicable · Exact original formula retained once, not a new financial computation ·
Formula qualification Q11
Formula for native.financials.cashOwnershipFraction: Exact retained elapsed/economic cash-scope hypothesis; postBalanceCashChange already contains all stub uses; postBalanceOtherCashChange zero means no ADDITIONAL duplicated stub use, not no actual transactions. Cash-only116.358m excludes.150m restricted. No financial borrowings in actual annual balance/liability notes; operating leases9.882m stay operating costs, not debt. Stub not reported FY27 Q1 cash. exact formula/method text · not-applicable · Exact original formula retained once, not a new financial computation ·
Formula qualification Q12
Formula for native.financials.cashNciDeduction: Exact retained elapsed/economic cash-scope hypothesis; postBalanceCashChange already contains all stub uses; postBalanceOtherCashChange zero means no ADDITIONAL duplicated stub use, not no actual transactions. Cash-only116.358m excludes.150m restricted. No financial borrowings in actual annual balance/liability notes; operating leases9.882m stay operating costs, not debt. Stub not reported FY27 Q1 cash. exact formula/method text · not-applicable · Exact original formula retained once, not a new financial computation ·
Formula qualification Q13
Formula for native.financials.cashJvContribution: Exact retained elapsed/economic cash-scope hypothesis; postBalanceCashChange already contains all stub uses; postBalanceOtherCashChange zero means no ADDITIONAL duplicated stub use, not no actual transactions. Cash-only116.358m excludes.150m restricted. No financial borrowings in actual annual balance/liability notes; operating leases9.882m stay operating costs, not debt. Stub not reported FY27 Q1 cash. exact formula/method text · not-applicable · Exact original formula retained once, not a new financial computation ·
Formula qualification Q14
Formula for native.financials.cashOwnershipReconciliation: Exact retained elapsed/economic cash-scope hypothesis; postBalanceCashChange already contains all stub uses; postBalanceOtherCashChange zero means no ADDITIONAL duplicated stub use, not no actual transactions. Cash-only116.358m excludes.150m restricted. No financial borrowings in actual annual balance/liability notes; operating leases9.882m stay operating costs, not debt. Stub not reported FY27 Q1 cash. exact formula/method text · not-applicable · Exact original formula retained once, not a new financial computation ·
Formula qualification Q15
Formula for native.financials.postBalanceOtherCashChange: Exact retained elapsed/economic cash-scope hypothesis; postBalanceCashChange already contains all stub uses; postBalanceOtherCashChange zero means no ADDITIONAL duplicated stub use, not no actual transactions. Cash-only116.358m excludes.150m restricted. No financial borrowings in actual annual balance/liability notes; operating leases9.882m stay operating costs, not debt. Stub not reported FY27 Q1 cash. exact formula/method text · not-applicable · Exact original formula retained once, not a new financial computation ·
Qualification Q16 — exact field scope
Exact retained native valuation inputs. Review/source time, monetary/share basis and uncertainty are original. Typed native bookkeeping is NOT source truth or all-model-resolution certification. scope / methodology text, not financial measure · not-applicable · Full exact original financial qualification, displayed once; affected rows reference this note. NOT bank/model/native certification. ·
Formula qualification Q17
Formula for native.valuation.sector: Retained AEHR analyst valuation interpretation: Full costguideproxy =28mnonGAAPmidNI -6.761mactualSBC -1.229mactualannualamort =20.01m, a reviewedhypothesis, NOT issuerGAAPguide. Datedequity3314.2377m/20.01m=165.6291x. RetainedpriorSBC-onlyproxy156.0449x ischosencompression,not fullcompatible reference. Bull55mnonGAAPNI -8mSBC -1.229mamort =45.771m GAAP-stylecommonNI,35mclaims gives204.0666 at156.0449x, narrowlyabove2x203.2. AtSBC10m routefails2x.118.3656xadjustedguidePE isnot comparable recurringGAAPPE;60xcompressioncannotaloneveto the operatingcountercase. A premium this high needsmultipleyears oforder-ledgrowth; nocertifiedpeerupperquartile exists. exact formula/method text · not-applicable · Exact original formula retained once, not a new financial computation ·
Formula qualification Q18
Formula for native.valuation.metric: Retained AEHR analyst valuation interpretation: Full costguideproxy =28mnonGAAPmidNI -6.761mactualSBC -1.229mactualannualamort =20.01m, a reviewedhypothesis, NOT issuerGAAPguide. Datedequity3314.2377m/20.01m=165.6291x. RetainedpriorSBC-onlyproxy156.0449x ischosencompression,not fullcompatible reference. Bull55mnonGAAPNI -8mSBC -1.229mamort =45.771m GAAP-stylecommonNI,35mclaims gives204.0666 at156.0449x, narrowlyabove2x203.2. AtSBC10m routefails2x.118.3656xadjustedguidePE isnot comparable recurringGAAPPE;60xcompressioncannotaloneveto the operatingcountercase. A premium this high needsmultipleyears oforder-ledgrowth; nocertifiedpeerupperquartile exists. exact formula/method text · not-applicable · Exact original formula retained once, not a new financial computation ·
Formula qualification Q19
Formula for native.valuation.referenceMultiple: Retained AEHR analyst valuation interpretation: Full costguideproxy =28mnonGAAPmidNI -6.761mactualSBC -1.229mactualannualamort =20.01m, a reviewedhypothesis, NOT issuerGAAPguide. Datedequity3314.2377m/20.01m=165.6291x. RetainedpriorSBC-onlyproxy156.0449x ischosencompression,not fullcompatible reference. Bull55mnonGAAPNI -8mSBC -1.229mamort =45.771m GAAP-stylecommonNI,35mclaims gives204.0666 at156.0449x, narrowlyabove2x203.2. AtSBC10m routefails2x.118.3656xadjustedguidePE isnot comparable recurringGAAPPE;60xcompressioncannotaloneveto the operatingcountercase. A premium this high needsmultipleyears oforder-ledgrowth; nocertifiedpeerupperquartile exists. exact formula/method text · not-applicable · Exact original formula retained once, not a new financial computation ·
Formula qualification Q20
Formula for native.valuation.multipleLow: Retained AEHR analyst valuation interpretation: Full costguideproxy =28mnonGAAPmidNI -6.761mactualSBC -1.229mactualannualamort =20.01m, a reviewedhypothesis, NOT issuerGAAPguide. Datedequity3314.2377m/20.01m=165.6291x. RetainedpriorSBC-onlyproxy156.0449x ischosencompression,not fullcompatible reference. Bull55mnonGAAPNI -8mSBC -1.229mamort =45.771m GAAP-stylecommonNI,35mclaims gives204.0666 at156.0449x, narrowlyabove2x203.2. AtSBC10m routefails2x.118.3656xadjustedguidePE isnot comparable recurringGAAPPE;60xcompressioncannotaloneveto the operatingcountercase. A premium this high needsmultipleyears oforder-ledgrowth; nocertifiedpeerupperquartile exists. exact formula/method text · not-applicable · Exact original formula retained once, not a new financial computation ·
Formula qualification Q21
Formula for native.valuation.multipleHigh: Retained AEHR analyst valuation interpretation: Full costguideproxy =28mnonGAAPmidNI -6.761mactualSBC -1.229mactualannualamort =20.01m, a reviewedhypothesis, NOT issuerGAAPguide. Datedequity3314.2377m/20.01m=165.6291x. RetainedpriorSBC-onlyproxy156.0449x ischosencompression,not fullcompatible reference. Bull55mnonGAAPNI -8mSBC -1.229mamort =45.771m GAAP-stylecommonNI,35mclaims gives204.0666 at156.0449x, narrowlyabove2x203.2. AtSBC10m routefails2x.118.3656xadjustedguidePE isnot comparable recurringGAAPPE;60xcompressioncannotaloneveto the operatingcountercase. A premium this high needsmultipleyears oforder-ledgrowth; nocertifiedpeerupperquartile exists. exact formula/method text · not-applicable · Exact original formula retained once, not a new financial computation ·
Formula qualification Q22
Formula for native.valuation.justification: Retained AEHR analyst valuation interpretation: Full costguideproxy =28mnonGAAPmidNI -6.761mactualSBC -1.229mactualannualamort =20.01m, a reviewedhypothesis, NOT issuerGAAPguide. Datedequity3314.2377m/20.01m=165.6291x. RetainedpriorSBC-onlyproxy156.0449x ischosencompression,not fullcompatible reference. Bull55mnonGAAPNI -8mSBC -1.229mamort =45.771m GAAP-stylecommonNI,35mclaims gives204.0666 at156.0449x, narrowlyabove2x203.2. AtSBC10m routefails2x.118.3656xadjustedguidePE isnot comparable recurringGAAPPE;60xcompressioncannotaloneveto the operatingcountercase. A premium this high needsmultipleyears oforder-ledgrowth; nocertifiedpeerupperquartile exists. exact formula/method text · not-applicable · Exact original formula retained once, not a new financial computation ·
Qualification Q23 — exact field scope
Exact original route pointer /modelViews/11 scope / methodology text, not financial measure · not-applicable · Full exact original financial qualification, displayed once; affected rows reference this note. NOT bank/model/native certification. ·
Qualification Q24 — exact field scope
Hash equality is not semantic source proof scope / methodology text, not financial measure · not-applicable · Full exact original financial qualification, displayed once; affected rows reference this note. NOT bank/model/native certification. ·
Qualification Q25 — exact field scope
ARCHIVED BEFORE accepted cash-settlement interpretation; NOT current operative forward cash. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2027-09-30', 'basis': 'Actual saved economic365day forecast horizon'} scope / methodology text, not financial measure · not-applicable · Full exact original financial qualification, displayed once; affected rows reference this note. NOT bank/model/native certification. ·
Qualification Q26 — exact field scope
Original accepted economic reverse operating/cash/claim valuation burden; NOT native eligibility, a probability, issuer target/guidance, or approved rank. AEHR cash overlay does not change saved revenue/profit/price burdens; preferred/warrant/disjoint claims retain original explicit conditional handling. Period {'start': '2026-10-01', 'end': '2027-09-30', 'basis': 'Original economic forecast / reverse burden horizon'} scope / methodology text, not financial measure · not-applicable · Full exact original financial qualification, displayed once; affected rows reference this note. NOT bank/model/native certification. ·
Qualification Q27 — exact field scope
Original analyst conditional scenarios.downside; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. scope / methodology text, not financial measure · not-applicable · Full exact original financial qualification, displayed once; affected rows reference this note. NOT bank/model/native certification. ·
Qualification Q28 — exact field scope
Original analyst conditional scenarios.downside; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2026-10-01 / 2026-12-31; EACH signed cash item shown, compensation net payment counted once. scope / methodology text, not financial measure · not-applicable · Full exact original financial qualification, displayed once; affected rows reference this note. NOT bank/model/native certification. ·
Qualification Q29 — exact field scope
Original analyst conditional scenarios.downside; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2027-01-01 / 2027-03-31; EACH signed cash item shown, compensation net payment counted once. scope / methodology text, not financial measure · not-applicable · Full exact original financial qualification, displayed once; affected rows reference this note. NOT bank/model/native certification. ·
Qualification Q30 — exact field scope
Original analyst conditional scenarios.downside; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2027-04-01 / 2027-06-30; EACH signed cash item shown, compensation net payment counted once. scope / methodology text, not financial measure · not-applicable · Full exact original financial qualification, displayed once; affected rows reference this note. NOT bank/model/native certification. ·
Qualification Q31 — exact field scope
Original analyst conditional scenarios.downside; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2027-07-01 / 2027-09-30; EACH signed cash item shown, compensation net payment counted once. scope / methodology text, not financial measure · not-applicable · Full exact original financial qualification, displayed once; affected rows reference this note. NOT bank/model/native certification. ·
Qualification Q32 — exact field scope
Original analyst conditional scenarios.downside; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2026-10-01 / 2027-09-30; EACH signed cash item shown, compensation net payment counted once. scope / methodology text, not financial measure · not-applicable · Full exact original financial qualification, displayed once; affected rows reference this note. NOT bank/model/native certification. ·
Qualification Q33 — exact field scope
CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2027-09-30', 'basis': 'Original economic model inclusive365 days; archived native cashPeriodEnd may be anniversary endpoint and is not silently relabeled'} scope / methodology text, not financial measure · not-applicable · Full exact original financial qualification, displayed once; affected rows reference this note. NOT bank/model/native certification. ·
Qualification Q34 — exact field scope
CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} scope / methodology text, not financial measure · not-applicable · Full exact original financial qualification, displayed once; affected rows reference this note. NOT bank/model/native certification. ·
Qualification Q35 — exact field scope
CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} scope / methodology text, not financial measure · not-applicable · Full exact original financial qualification, displayed once; affected rows reference this note. NOT bank/model/native certification. ·
Qualification Q36 — exact field scope
CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} scope / methodology text, not financial measure · not-applicable · Full exact original financial qualification, displayed once; affected rows reference this note. NOT bank/model/native certification. ·
Qualification Q37 — exact field scope
CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} scope / methodology text, not financial measure · not-applicable · Full exact original financial qualification, displayed once; affected rows reference this note. NOT bank/model/native certification. ·
Qualification Q38 — exact field scope
CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} scope / methodology text, not financial measure · not-applicable · Full exact original financial qualification, displayed once; affected rows reference this note. NOT bank/model/native certification. ·
Qualification Q39 — exact field scope
CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} scope / methodology text, not financial measure · not-applicable · Full exact original financial qualification, displayed once; affected rows reference this note. NOT bank/model/native certification. ·
Qualification Q40 — exact field scope
CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} scope / methodology text, not financial measure · not-applicable · Full exact original financial qualification, displayed once; affected rows reference this note. NOT bank/model/native certification. ·
Qualification Q41 — exact field scope
CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} scope / methodology text, not financial measure · not-applicable · Full exact original financial qualification, displayed once; affected rows reference this note. NOT bank/model/native certification. ·
Qualification Q42 — exact field scope
Original analyst conditional scenarios.base; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. scope / methodology text, not financial measure · not-applicable · Full exact original financial qualification, displayed once; affected rows reference this note. NOT bank/model/native certification. ·
Qualification Q43 — exact field scope
Original analyst conditional scenarios.base; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2026-10-01 / 2026-12-31; EACH signed cash item shown, compensation net payment counted once. scope / methodology text, not financial measure · not-applicable · Full exact original financial qualification, displayed once; affected rows reference this note. NOT bank/model/native certification. ·
Qualification Q44 — exact field scope
Original analyst conditional scenarios.base; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2027-01-01 / 2027-03-31; EACH signed cash item shown, compensation net payment counted once. scope / methodology text, not financial measure · not-applicable · Full exact original financial qualification, displayed once; affected rows reference this note. NOT bank/model/native certification. ·
Qualification Q45 — exact field scope
Original analyst conditional scenarios.base; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2027-04-01 / 2027-06-30; EACH signed cash item shown, compensation net payment counted once. scope / methodology text, not financial measure · not-applicable · Full exact original financial qualification, displayed once; affected rows reference this note. NOT bank/model/native certification. ·
Qualification Q46 — exact field scope
Original analyst conditional scenarios.base; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2027-07-01 / 2027-09-30; EACH signed cash item shown, compensation net payment counted once. scope / methodology text, not financial measure · not-applicable · Full exact original financial qualification, displayed once; affected rows reference this note. NOT bank/model/native certification. ·
Qualification Q47 — exact field scope
Original analyst conditional scenarios.base; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2026-10-01 / 2027-09-30; EACH signed cash item shown, compensation net payment counted once. scope / methodology text, not financial measure · not-applicable · Full exact original financial qualification, displayed once; affected rows reference this note. NOT bank/model/native certification. ·
Qualification Q48 — exact field scope
Original analyst conditional scenarios.bull; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. scope / methodology text, not financial measure · not-applicable · Full exact original financial qualification, displayed once; affected rows reference this note. NOT bank/model/native certification. ·
Qualification Q49 — exact field scope
Original analyst conditional scenarios.bull; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2026-10-01 / 2026-12-31; EACH signed cash item shown, compensation net payment counted once. scope / methodology text, not financial measure · not-applicable · Full exact original financial qualification, displayed once; affected rows reference this note. NOT bank/model/native certification. ·
Qualification Q50 — exact field scope
Original analyst conditional scenarios.bull; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2027-01-01 / 2027-03-31; EACH signed cash item shown, compensation net payment counted once. scope / methodology text, not financial measure · not-applicable · Full exact original financial qualification, displayed once; affected rows reference this note. NOT bank/model/native certification. ·
Qualification Q51 — exact field scope
Original analyst conditional scenarios.bull; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2027-04-01 / 2027-06-30; EACH signed cash item shown, compensation net payment counted once. scope / methodology text, not financial measure · not-applicable · Full exact original financial qualification, displayed once; affected rows reference this note. NOT bank/model/native certification. ·
Qualification Q52 — exact field scope
Original analyst conditional scenarios.bull; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2027-07-01 / 2027-09-30; EACH signed cash item shown, compensation net payment counted once. scope / methodology text, not financial measure · not-applicable · Full exact original financial qualification, displayed once; affected rows reference this note. NOT bank/model/native certification. ·
Qualification Q53 — exact field scope
Original analyst conditional scenarios.bull; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2026-10-01 / 2027-09-30; EACH signed cash item shown, compensation net payment counted once. scope / methodology text, not financial measure · not-applicable · Full exact original financial qualification, displayed once; affected rows reference this note. NOT bank/model/native certification. ·
Qualification Q54 — exact field scope
Original analyst conditional sensitivities.retainedCompatibleReference; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. scope / methodology text, not financial measure · not-applicable · Full exact original financial qualification, displayed once; affected rows reference this note. NOT bank/model/native certification. ·
Qualification Q55 — exact field scope
Original analyst conditional sensitivities.retainedCompatibleReference; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2026-10-01 / 2026-12-31; EACH signed cash item shown, compensation net payment counted once. scope / methodology text, not financial measure · not-applicable · Full exact original financial qualification, displayed once; affected rows reference this note. NOT bank/model/native certification. ·
Qualification Q56 — exact field scope
Original analyst conditional sensitivities.retainedCompatibleReference; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2027-01-01 / 2027-03-31; EACH signed cash item shown, compensation net payment counted once. scope / methodology text, not financial measure · not-applicable · Full exact original financial qualification, displayed once; affected rows reference this note. NOT bank/model/native certification. ·
Qualification Q57 — exact field scope
Original analyst conditional sensitivities.retainedCompatibleReference; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2027-04-01 / 2027-06-30; EACH signed cash item shown, compensation net payment counted once. scope / methodology text, not financial measure · not-applicable · Full exact original financial qualification, displayed once; affected rows reference this note. NOT bank/model/native certification. ·
Qualification Q58 — exact field scope
Original analyst conditional sensitivities.retainedCompatibleReference; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2027-07-01 / 2027-09-30; EACH signed cash item shown, compensation net payment counted once. scope / methodology text, not financial measure · not-applicable · Full exact original financial qualification, displayed once; affected rows reference this note. NOT bank/model/native certification. ·
Qualification Q59 — exact field scope
Original analyst conditional sensitivities.retainedCompatibleReference; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2026-10-01 / 2027-09-30; EACH signed cash item shown, compensation net payment counted once. scope / methodology text, not financial measure · not-applicable · Full exact original financial qualification, displayed once; affected rows reference this note. NOT bank/model/native certification. ·
Qualification Q60 — exact field scope
Original analyst conditional sensitivities.revenueMinus20pct; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. scope / methodology text, not financial measure · not-applicable · Full exact original financial qualification, displayed once; affected rows reference this note. NOT bank/model/native certification. ·
Qualification Q61 — exact field scope
Original analyst conditional sensitivities.revenueMinus20pct; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2026-10-01 / 2026-12-31; EACH signed cash item shown, compensation net payment counted once. scope / methodology text, not financial measure · not-applicable · Full exact original financial qualification, displayed once; affected rows reference this note. NOT bank/model/native certification. ·
Qualification Q62 — exact field scope
Original analyst conditional sensitivities.revenueMinus20pct; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2027-01-01 / 2027-03-31; EACH signed cash item shown, compensation net payment counted once. scope / methodology text, not financial measure · not-applicable · Full exact original financial qualification, displayed once; affected rows reference this note. NOT bank/model/native certification. ·
Qualification Q63 — exact field scope
Original analyst conditional sensitivities.revenueMinus20pct; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2027-04-01 / 2027-06-30; EACH signed cash item shown, compensation net payment counted once. scope / methodology text, not financial measure · not-applicable · Full exact original financial qualification, displayed once; affected rows reference this note. NOT bank/model/native certification. ·
Qualification Q64 — exact field scope
Original analyst conditional sensitivities.revenueMinus20pct; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2027-07-01 / 2027-09-30; EACH signed cash item shown, compensation net payment counted once. scope / methodology text, not financial measure · not-applicable · Full exact original financial qualification, displayed once; affected rows reference this note. NOT bank/model/native certification. ·
Qualification Q65 — exact field scope
Original analyst conditional sensitivities.revenueMinus20pct; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2026-10-01 / 2027-09-30; EACH signed cash item shown, compensation net payment counted once. scope / methodology text, not financial measure · not-applicable · Full exact original financial qualification, displayed once; affected rows reference this note. NOT bank/model/native certification. ·
Qualification Q66 — exact field scope
Original analyst conditional sensitivities.marginMinus3points; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. scope / methodology text, not financial measure · not-applicable · Full exact original financial qualification, displayed once; affected rows reference this note. NOT bank/model/native certification. ·
Qualification Q67 — exact field scope
Original analyst conditional sensitivities.marginMinus3points; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2026-10-01 / 2026-12-31; EACH signed cash item shown, compensation net payment counted once. scope / methodology text, not financial measure · not-applicable · Full exact original financial qualification, displayed once; affected rows reference this note. NOT bank/model/native certification. ·
Qualification Q68 — exact field scope
Original analyst conditional sensitivities.marginMinus3points; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2027-01-01 / 2027-03-31; EACH signed cash item shown, compensation net payment counted once. scope / methodology text, not financial measure · not-applicable · Full exact original financial qualification, displayed once; affected rows reference this note. NOT bank/model/native certification. ·
Qualification Q69 — exact field scope
Original analyst conditional sensitivities.marginMinus3points; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2027-04-01 / 2027-06-30; EACH signed cash item shown, compensation net payment counted once. scope / methodology text, not financial measure · not-applicable · Full exact original financial qualification, displayed once; affected rows reference this note. NOT bank/model/native certification. ·
Qualification Q70 — exact field scope
Original analyst conditional sensitivities.marginMinus3points; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2027-07-01 / 2027-09-30; EACH signed cash item shown, compensation net payment counted once. scope / methodology text, not financial measure · not-applicable · Full exact original financial qualification, displayed once; affected rows reference this note. NOT bank/model/native certification. ·
Qualification Q71 — exact field scope
Original analyst conditional sensitivities.marginMinus3points; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2026-10-01 / 2027-09-30; EACH signed cash item shown, compensation net payment counted once. scope / methodology text, not financial measure · not-applicable · Full exact original financial qualification, displayed once; affected rows reference this note. NOT bank/model/native certification. ·
Qualification Q72 — exact field scope
Original analyst conditional sensitivities.additional5pctClaimShares; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. scope / methodology text, not financial measure · not-applicable · Full exact original financial qualification, displayed once; affected rows reference this note. NOT bank/model/native certification. ·
Qualification Q73 — exact field scope
Original analyst conditional sensitivities.additional5pctClaimShares; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2026-10-01 / 2026-12-31; EACH signed cash item shown, compensation net payment counted once. scope / methodology text, not financial measure · not-applicable · Full exact original financial qualification, displayed once; affected rows reference this note. NOT bank/model/native certification. ·
Qualification Q74 — exact field scope
Original analyst conditional sensitivities.additional5pctClaimShares; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2027-01-01 / 2027-03-31; EACH signed cash item shown, compensation net payment counted once. scope / methodology text, not financial measure · not-applicable · Full exact original financial qualification, displayed once; affected rows reference this note. NOT bank/model/native certification. ·
Qualification Q75 — exact field scope
Original analyst conditional sensitivities.additional5pctClaimShares; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2027-04-01 / 2027-06-30; EACH signed cash item shown, compensation net payment counted once. scope / methodology text, not financial measure · not-applicable · Full exact original financial qualification, displayed once; affected rows reference this note. NOT bank/model/native certification. ·
Qualification Q76 — exact field scope
Original analyst conditional sensitivities.additional5pctClaimShares; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2027-07-01 / 2027-09-30; EACH signed cash item shown, compensation net payment counted once. scope / methodology text, not financial measure · not-applicable · Full exact original financial qualification, displayed once; affected rows reference this note. NOT bank/model/native certification. ·
Qualification Q77 — exact field scope
Original analyst conditional sensitivities.additional5pctClaimShares; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2026-10-01 / 2027-09-30; EACH signed cash item shown, compensation net payment counted once. scope / methodology text, not financial measure · not-applicable · Full exact original financial qualification, displayed once; affected rows reference this note. NOT bank/model/native certification. ·
Qualification Q78 — exact field scope
Original analyst conditional sensitivities.frontLoadedCashUse; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. scope / methodology text, not financial measure · not-applicable · Full exact original financial qualification, displayed once; affected rows reference this note. NOT bank/model/native certification. ·
Qualification Q79 — exact field scope
Original analyst conditional sensitivities.frontLoadedCashUse; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2026-10-01 / 2026-12-31; EACH signed cash item shown, compensation net payment counted once. scope / methodology text, not financial measure · not-applicable · Full exact original financial qualification, displayed once; affected rows reference this note. NOT bank/model/native certification. ·
Qualification Q80 — exact field scope
Original analyst conditional sensitivities.frontLoadedCashUse; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2027-01-01 / 2027-03-31; EACH signed cash item shown, compensation net payment counted once. scope / methodology text, not financial measure · not-applicable · Full exact original financial qualification, displayed once; affected rows reference this note. NOT bank/model/native certification. ·
Qualification Q81 — exact field scope
Original analyst conditional sensitivities.frontLoadedCashUse; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2027-04-01 / 2027-06-30; EACH signed cash item shown, compensation net payment counted once. scope / methodology text, not financial measure · not-applicable · Full exact original financial qualification, displayed once; affected rows reference this note. NOT bank/model/native certification. ·
Qualification Q82 — exact field scope
Original analyst conditional sensitivities.frontLoadedCashUse; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2027-07-01 / 2027-09-30; EACH signed cash item shown, compensation net payment counted once. scope / methodology text, not financial measure · not-applicable · Full exact original financial qualification, displayed once; affected rows reference this note. NOT bank/model/native certification. ·
Qualification Q83 — exact field scope
Original analyst conditional sensitivities.frontLoadedCashUse; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2026-10-01 / 2027-09-30; EACH signed cash item shown, compensation net payment counted once. scope / methodology text, not financial measure · not-applicable · Full exact original financial qualification, displayed once; affected rows reference this note. NOT bank/model/native certification. ·
Qualification Q84 — exact field scope
Original analyst conditional sensitivities.combinedRevenueMarginCashClaims; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. scope / methodology text, not financial measure · not-applicable · Full exact original financial qualification, displayed once; affected rows reference this note. NOT bank/model/native certification. ·
Qualification Q85 — exact field scope
Original analyst conditional sensitivities.combinedRevenueMarginCashClaims; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2026-10-01 / 2026-12-31; EACH signed cash item shown, compensation net payment counted once. scope / methodology text, not financial measure · not-applicable · Full exact original financial qualification, displayed once; affected rows reference this note. NOT bank/model/native certification. ·
Qualification Q86 — exact field scope
Original analyst conditional sensitivities.combinedRevenueMarginCashClaims; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2027-01-01 / 2027-03-31; EACH signed cash item shown, compensation net payment counted once. scope / methodology text, not financial measure · not-applicable · Full exact original financial qualification, displayed once; affected rows reference this note. NOT bank/model/native certification. ·
Qualification Q87 — exact field scope
Original analyst conditional sensitivities.combinedRevenueMarginCashClaims; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2027-04-01 / 2027-06-30; EACH signed cash item shown, compensation net payment counted once. scope / methodology text, not financial measure · not-applicable · Full exact original financial qualification, displayed once; affected rows reference this note. NOT bank/model/native certification. ·
Qualification Q88 — exact field scope
Original analyst conditional sensitivities.combinedRevenueMarginCashClaims; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2027-07-01 / 2027-09-30; EACH signed cash item shown, compensation net payment counted once. scope / methodology text, not financial measure · not-applicable · Full exact original financial qualification, displayed once; affected rows reference this note. NOT bank/model/native certification. ·
Qualification Q89 — exact field scope
Original analyst conditional sensitivities.combinedRevenueMarginCashClaims; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2026-10-01 / 2027-09-30; EACH signed cash item shown, compensation net payment counted once. scope / methodology text, not financial measure · not-applicable · Full exact original financial qualification, displayed once; affected rows reference this note. NOT bank/model/native certification. ·
Qualification Q90 — exact field scope
Original analyst conditional sensitivities.SBC6.761; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. scope / methodology text, not financial measure · not-applicable · Full exact original financial qualification, displayed once; affected rows reference this note. NOT bank/model/native certification. ·
Qualification Q91 — exact field scope
Original analyst conditional sensitivities.SBC6.761; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2026-10-01 / 2026-12-31; EACH signed cash item shown, compensation net payment counted once. scope / methodology text, not financial measure · not-applicable · Full exact original financial qualification, displayed once; affected rows reference this note. NOT bank/model/native certification. ·
Qualification Q92 — exact field scope
Original analyst conditional sensitivities.SBC6.761; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2027-01-01 / 2027-03-31; EACH signed cash item shown, compensation net payment counted once. scope / methodology text, not financial measure · not-applicable · Full exact original financial qualification, displayed once; affected rows reference this note. NOT bank/model/native certification. ·
Qualification Q93 — exact field scope
Original analyst conditional sensitivities.SBC6.761; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2027-04-01 / 2027-06-30; EACH signed cash item shown, compensation net payment counted once. scope / methodology text, not financial measure · not-applicable · Full exact original financial qualification, displayed once; affected rows reference this note. NOT bank/model/native certification. ·
Qualification Q94 — exact field scope
Original analyst conditional sensitivities.SBC6.761; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2027-07-01 / 2027-09-30; EACH signed cash item shown, compensation net payment counted once. scope / methodology text, not financial measure · not-applicable · Full exact original financial qualification, displayed once; affected rows reference this note. NOT bank/model/native certification. ·
Qualification Q95 — exact field scope
Original analyst conditional sensitivities.SBC6.761; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2026-10-01 / 2027-09-30; EACH signed cash item shown, compensation net payment counted once. scope / methodology text, not financial measure · not-applicable · Full exact original financial qualification, displayed once; affected rows reference this note. NOT bank/model/native certification. ·
Qualification Q96 — exact field scope
Original analyst conditional sensitivities.SBC10; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. scope / methodology text, not financial measure · not-applicable · Full exact original financial qualification, displayed once; affected rows reference this note. NOT bank/model/native certification. ·
Qualification Q97 — exact field scope
Original analyst conditional sensitivities.SBC10; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2026-10-01 / 2026-12-31; EACH signed cash item shown, compensation net payment counted once. scope / methodology text, not financial measure · not-applicable · Full exact original financial qualification, displayed once; affected rows reference this note. NOT bank/model/native certification. ·
Qualification Q98 — exact field scope
Original analyst conditional sensitivities.SBC10; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2027-01-01 / 2027-03-31; EACH signed cash item shown, compensation net payment counted once. scope / methodology text, not financial measure · not-applicable · Full exact original financial qualification, displayed once; affected rows reference this note. NOT bank/model/native certification. ·
Qualification Q99 — exact field scope
Original analyst conditional sensitivities.SBC10; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2027-04-01 / 2027-06-30; EACH signed cash item shown, compensation net payment counted once. scope / methodology text, not financial measure · not-applicable · Full exact original financial qualification, displayed once; affected rows reference this note. NOT bank/model/native certification. ·
Qualification Q100 — exact field scope
Original analyst conditional sensitivities.SBC10; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2027-07-01 / 2027-09-30; EACH signed cash item shown, compensation net payment counted once. scope / methodology text, not financial measure · not-applicable · Full exact original financial qualification, displayed once; affected rows reference this note. NOT bank/model/native certification. ·
Qualification Q101 — exact field scope
Original analyst conditional sensitivities.SBC10; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2026-10-01 / 2027-09-30; EACH signed cash item shown, compensation net payment counted once. scope / methodology text, not financial measure · not-applicable · Full exact original financial qualification, displayed once; affected rows reference this note. NOT bank/model/native certification. ·
Qualification Q102 — exact field scope
Original analyst conditional sensitivities.SBC12; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. scope / methodology text, not financial measure · not-applicable · Full exact original financial qualification, displayed once; affected rows reference this note. NOT bank/model/native certification. ·
Qualification Q103 — exact field scope
Original analyst conditional sensitivities.SBC12; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2026-10-01 / 2026-12-31; EACH signed cash item shown, compensation net payment counted once. scope / methodology text, not financial measure · not-applicable · Full exact original financial qualification, displayed once; affected rows reference this note. NOT bank/model/native certification. ·
Qualification Q104 — exact field scope
Original analyst conditional sensitivities.SBC12; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2027-01-01 / 2027-03-31; EACH signed cash item shown, compensation net payment counted once. scope / methodology text, not financial measure · not-applicable · Full exact original financial qualification, displayed once; affected rows reference this note. NOT bank/model/native certification. ·
Qualification Q105 — exact field scope
Original analyst conditional sensitivities.SBC12; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2027-04-01 / 2027-06-30; EACH signed cash item shown, compensation net payment counted once. scope / methodology text, not financial measure · not-applicable · Full exact original financial qualification, displayed once; affected rows reference this note. NOT bank/model/native certification. ·
Qualification Q106 — exact field scope
Original analyst conditional sensitivities.SBC12; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2027-07-01 / 2027-09-30; EACH signed cash item shown, compensation net payment counted once. scope / methodology text, not financial measure · not-applicable · Full exact original financial qualification, displayed once; affected rows reference this note. NOT bank/model/native certification. ·
Qualification Q107 — exact field scope
Original analyst conditional sensitivities.SBC12; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2026-10-01 / 2027-09-30; EACH signed cash item shown, compensation net payment counted once. scope / methodology text, not financial measure · not-applicable · Full exact original financial qualification, displayed once; affected rows reference this note. NOT bank/model/native certification. ·
Dated source/proof detail — actual citation sets, not source certainty
Historical/source evidence set E1 — shared actual citations
Exact source IDs shared by material rows; forward/derived use stays analyst conditional, not an issuer guarantee. Full claim/reviewer/sourceDAG in original archive. source/proof context, not a financial quantity · not-applicable · Source support is scoped. Hash equality is not literal/accounting proof. ·
Exact immutable source/model proofs — shared references, not source certainty
Exact value/origin proof P8447
Full immutable financial/source/derivation context for rows marked P8447. Source links on rows are historical context only, not issuerfuture/bank/currentFD certification. immutable proof/ref, not numeric financial assumption · not-applicable · Actual original artifact hash/optionalJSONpointer; scopedsource/financial acceptance separate from fullmodel/native certification ·
Exact value/origin proof P8448
Full immutable financial/source/derivation context for rows marked P8448. Source links on rows are historical context only, not issuerfuture/bank/currentFD certification. immutable proof/ref, not numeric financial assumption · not-applicable · Actual original artifact hash/optionalJSONpointer; scopedsource/financial acceptance separate from fullmodel/native certification ·
Exact value/origin proof P8449
Full immutable financial/source/derivation context for rows marked P8449. Source links on rows are historical context only, not issuerfuture/bank/currentFD certification. immutable proof/ref, not numeric financial assumption · not-applicable · Actual original artifact hash/optionalJSONpointer; scopedsource/financial acceptance separate from fullmodel/native certification ·
Exact value/origin proof P8482
Full immutable financial/source/derivation context for rows marked P8482. Source links on rows are historical context only, not issuerfuture/bank/currentFD certification. immutable proof/ref, not numeric financial assumption · not-applicable · Actual original artifact hash/optionalJSONpointer; scopedsource/financial acceptance separate from fullmodel/native certification ·
downside — operative bounded cash · conditional-not-native-approval
Scenario period
2026-10-01 → 2027-09-30 · Original economic model inclusive365 days; archived native cashPeriodEnd may be anniversary endpoint and is not silently relabeled
0 — revenues
22 USD million · forecast · Qualification Q27 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
1 — revenues
25 USD million · forecast · Qualification Q27 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
2 — revenues
28 USD million · forecast · Qualification Q27 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
3 — revenues
35 USD million · forecast · Qualification Q27 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
adjusted Net Margin
0.18 fraction / ratio · forecast · Qualification Q27 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
sbc
9 USD million · forecast · Qualification Q27 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
amort
1.229 USD million · forecast · Qualification Q27 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
da
4 USD million · forecast · Qualification Q27 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
interest Net
3 USD million · forecast · Qualification Q27 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
tax Rate
0.2 fraction / ratio · forecast · Qualification Q27 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
wc
-25 USD million · forecast · Qualification Q27 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
capex
6 USD million · forecast · Qualification Q27 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
employee Proceeds
2.2 USD million · forecast · Qualification Q27 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
employee Withholding
3 USD million · forecast · Qualification Q27 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
shares
36 million ordinary shares (dated/weighted/analyst allowance as scoped) · forecast · Qualification Q27 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
multiple
60 valuation multiple x · forecast · Qualification Q27 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
recognized Revenue
110 USD million · forecast · Qualification Q27 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
gaap EBIT
8.963750000000001 USD million · forecast · Qualification Q27 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
gaap Operating Margin
0.08148863636363637 fraction / ratio · forecast · Qualification Q27 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
pretax
11.963750000000001 USD million · forecast · Qualification Q27 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
income Tax Expense
2.3927500000000004 USD million · forecast · Qualification Q27 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
group NI
9.571000000000002 USD million · forecast · Qualification Q27 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
Net income attributable to common — stated preferred treatment
9.571000000000002 USD million · forecast · Qualification Q27 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
owner Income Diagnostic
9.571000000000002 USD million · forecast · Qualification Q27 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
Noncash CFO addback — after cash-settlement component
5 USD million · forecast · Qualification Q27 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
other Cfo
0 USD million · forecast · Qualification Q27 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
working Capital Cash
-25 USD million · forecast · Qualification Q27 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
Operating cash flow — stated period and case
-10.428999999999998 USD million · forecast · Qualification Q27 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
adjusted Net Income Hypothesis
19.8 USD million · forecast · Qualification Q27 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
SBCExpense Charged No Tax Shield
9 USD million · forecast · Qualification Q27 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
acquired Amort Charged No Tax Shield
1.229 USD million · forecast · Qualification Q27 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
no Repeated FY26 Tax Benefit
true boolean qualification, not monetary measurement · not-applicable · Qualification Q27 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. ·
GAAPForecast Status
analyst GAAP-style reconciliation, not issuer guidance. Historical SAR cash expense included within SBC allowance; extra target SAR cash tested separately. retained explanatory text · not-applicable · Qualification Q27 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. ·
opening Cash
102.58800000000001 USD million · forecast · Qualification Q27 below. Exact immutable field-origin/proof mapping retained. Dated or assumed opening/reference stock used in a conditional model, not a newly observed cash/share balance. Original factual measurement/assumption dates and historical source evidence remain unchanged; future model use is distinct from source measurement. ·
Terminal cash BEFORE hypothetical exercises
85.35900000000001 USD million · forecast · Qualification Q27 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
terminal Cash Post Hypothetical Exercises
85.35900000000001 USD million · forecast · Qualification Q27 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
terminal Debt
0 USD million · forecast · Qualification Q27 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
terminal Ownership Claim
0 USD million · forecast · Qualification Q27 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
quarter Boundary Minimum Pre Exercises
81.43628000000001 USD million · forecast · Qualification Q27 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
intra Quarter Timing Reserve
20 USD million · forecast · Qualification Q27 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
Minimum available cash — bounded analyst case
61.43628000000001 USD million · forecast · Qualification Q27 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
policy Reserve Gap
0 USD million · forecast · Qualification Q27 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
cash Funding Status
conditional-positive-under-stated-assumptions retained explanatory text · not-applicable · Qualification Q27 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. ·
ordinary M
32.62045 million ordinary shares (dated/weighted/analyst allowance as scoped) · forecast · Qualification Q27 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
total Shares M
36 million ordinary shares (dated/weighted/analyst allowance as scoped) · forecast · Qualification Q27 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
forward Incremental Allowance M
3.379550000000002 million ordinary shares (dated/weighted/analyst allowance as scoped) · forecast · Qualification Q27 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
not Exact Fully Diluted
true boolean qualification, not monetary measurement · not-applicable · Qualification Q27 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. ·
exercise Cash USDm
0 USD million · forecast · Qualification Q27 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
convertible Shares M
0 million ordinary shares (dated/weighted/analyst allowance as scoped) · forecast · Qualification Q27 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
convertible Debt Removed
0 USD million · forecast · Qualification Q27 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
conversion Cash Settlement
0 USD million · forecast · Qualification Q27 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
conversion Price
Unknown (null) USD million · unknown · Qualification Q27 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
no Convert Treatment
none retained explanatory text · not-applicable · Qualification Q27 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. ·
applicability
source-reviewed no outstanding convertible financing in retained balance/debt notes; options/RSUs remain separate employee claims retained explanatory text · not-applicable · Qualification Q27 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. ·
terminal Shares M
36 million ordinary shares (dated/weighted/analyst allowance as scoped) · forecast · Qualification Q27 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
terminal Multiple
60 valuation multiple x · forecast · Qualification Q27 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
equity Pricing Identity
commonOwnerIncome*PE; no additive netcash/debt retained explanatory text · not-applicable · Qualification Q27 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. ·
terminal Equity USDm
574.2600000000001 USD million · forecast · Qualification Q27 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
Per-share scenario price — unchanged
15.95166666666667 USD/share · forecast · Qualification Q27 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
price Ratio
0.1570045955338255 fraction / ratio · forecast · Qualification Q27 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
GAAPCommon PEContext
60 valuation multiple x · forecast · Qualification Q27 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
no Warrant Cash In Trough
true boolean qualification, not monetary measurement · not-applicable · Qualification Q27 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. ·
not Observed Daily Cash
true boolean qualification, not monetary measurement · not-applicable · Qualification Q27 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. ·
0 — operativeCashComponentRangeUSDm
0 USD million · forecast · Qualification Q27 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
1 — operativeCashComponentRangeUSDm
8 USD million · forecast · Qualification Q27 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
cash Endpoint Convention
c=upper existing expense budget, frontloaded within horizon for displayed operative cash;0cash/all-noncash and matched/delayed endpoints in separately bounded proof below retained explanatory text · not-applicable · Qualification Q27 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. ·
bound Conditions
If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. retained explanatory text · not-applicable · Qualification Q27 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. ·
minimum Bound Includes Original Timing Reserve
true boolean qualification, not monetary measurement · not-applicable · Qualification Q27 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. ·
operativeQuarter 1 — signed cash/revenue/compensation reconciliation
[{"field":"0.quarter","value":1,"unit":"quarter index"},{"field":"0.periodStart","value":"2026-10-01","unit":"retained explanatory text"},{"field":"0.periodEnd","value":"2026-12-31","unit":"retained explanatory text"},{"field":"0.inclusiveDays","value":92,"unit":"USD million"},{"field":"0.recognizedRevenueHypothesis","value":22,"unit":"USD million"},{"field":"0.openingCash","value":102.58800000000001,"unit":"USD million"},{"field":"0.flows.operatingCashBeforeWorkingCapital","value":-3.93722,"unit":"USD million"},{"field":"0.flows.workingCapitalCash","value":-10.0,"unit":"USD million"},{"field":"0.flows.cashPPE","value":-2.7,"unit":"USD million"},{"field":"0.flows.softwareCash","value":-0.0,"unit":"USD million"},{"field":"0.flows.acquisitionCash","value":-0.0,"unit":"USD million"},{"field":"0.flows.ordinaryBuybackCash","value":-0.0,"unit":"USD million"},{"field":"0.flows.cashDistributions","value":-0.0,"unit":"USD million"},{"field":"0.flows.employeeTaxWithholdingCash","value":-0.75,"unit":"USD million"},{"field":"0.flows.employeePlanProceedsFinancing","value":0.55,"unit":"USD million"},{"field":"0.flows.debtRaised","value":0.0,"unit":"USD million"},{"field":"0.flows.debtPrincipalRepaid","value":-0.0,"unit":"USD million"},{"field":"0.flows.extraStressUse","value":0,"unit":"USD million"},{"field":"0.endingCashBeforeTargetExercises","value":85.75078,"unit":"USD million"},{"field":"0.endingDebt","value":0.0,"unit":"USD million"},{"field":"0.noncashAddbackRemovedUSDm","value":1.44,"unit":"USD million"},{"field":"0.liabilityTimingCashAdjustmentUSDm","value":-6.56,"unit":"USD million"},{"field":"0.cashCompensationPaymentUSDm","value":8.0,"unit":"USD million"},{"field":"0.cashCostCountedOnceNetChangeUSDm","value":-8.0,"unit":"USD million"}] USD million for signed cash/revenue values; period dates and quarter identifiers are header context, not monetary assumptions · forecast · Qualification Q28 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional scenarios.downside; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2026-10-01 / 2026-12-31; EACH signed cash item shown, compensation net payment counted once. ·
operativeQuarter 2 — signed cash/revenue/compensation reconciliation
[{"field":"1.quarter","value":2,"unit":"quarter index"},{"field":"1.periodStart","value":"2027-01-01","unit":"retained explanatory text"},{"field":"1.periodEnd","value":"2027-03-31","unit":"retained explanatory text"},{"field":"1.inclusiveDays","value":90,"unit":"USD million"},{"field":"1.recognizedRevenueHypothesis","value":25,"unit":"USD million"},{"field":"1.openingCash","value":85.75078,"unit":"USD million"},{"field":"1.flows.operatingCashBeforeWorkingCapital","value":5.191330000000001,"unit":"USD million"},{"field":"1.flows.workingCapitalCash","value":-7.5,"unit":"USD million"},{"field":"1.flows.cashPPE","value":-1.5,"unit":"USD million"},{"field":"1.flows.softwareCash","value":-0.0,"unit":"USD million"},{"field":"1.flows.acquisitionCash","value":-0.0,"unit":"USD million"},{"field":"1.flows.ordinaryBuybackCash","value":-0.0,"unit":"USD million"},{"field":"1.flows.cashDistributions","value":-0.0,"unit":"USD million"},{"field":"1.flows.employeeTaxWithholdingCash","value":-0.75,"unit":"USD million"},{"field":"1.flows.employeePlanProceedsFinancing","value":0.55,"unit":"USD million"},{"field":"1.flows.debtRaised","value":0.0,"unit":"USD million"},{"field":"1.flows.debtPrincipalRepaid","value":-0.0,"unit":"USD million"},{"field":"1.flows.extraStressUse","value":0,"unit":"USD million"},{"field":"1.endingCashBeforeTargetExercises","value":81.74211000000001,"unit":"USD million"},{"field":"1.endingDebt","value":0.0,"unit":"USD million"},{"field":"1.noncashAddbackRemovedUSDm","value":1.84,"unit":"USD million"},{"field":"1.liabilityTimingCashAdjustmentUSDm","value":1.84,"unit":"USD million"},{"field":"1.cashCompensationPaymentUSDm","value":0.0,"unit":"USD million"},{"field":"1.cashCostCountedOnceNetChangeUSDm","value":0.0,"unit":"USD million"}] USD million for signed cash/revenue values; period dates and quarter identifiers are header context, not monetary assumptions · forecast · Qualification Q29 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional scenarios.downside; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2027-01-01 / 2027-03-31; EACH signed cash item shown, compensation net payment counted once. ·
operativeQuarter 3 — signed cash/revenue/compensation reconciliation
[{"field":"2.quarter","value":3,"unit":"quarter index"},{"field":"2.periodStart","value":"2027-04-01","unit":"retained explanatory text"},{"field":"2.periodEnd","value":"2027-06-30","unit":"retained explanatory text"},{"field":"2.inclusiveDays","value":91,"unit":"USD million"},{"field":"2.recognizedRevenueHypothesis","value":28,"unit":"USD million"},{"field":"2.openingCash","value":81.74211000000001,"unit":"USD million"},{"field":"2.flows.operatingCashBeforeWorkingCapital","value":6.094170000000001,"unit":"USD million"},{"field":"2.flows.workingCapitalCash","value":-5.0,"unit":"USD million"},{"field":"2.flows.cashPPE","value":-1.2000000000000002,"unit":"USD million"},{"field":"2.flows.softwareCash","value":-0.0,"unit":"USD million"},{"field":"2.flows.acquisitionCash","value":-0.0,"unit":"USD million"},{"field":"2.flows.ordinaryBuybackCash","value":-0.0,"unit":"USD million"},{"field":"2.flows.cashDistributions","value":-0.0,"unit":"USD million"},{"field":"2.flows.employeeTaxWithholdingCash","value":-0.75,"unit":"USD million"},{"field":"2.flows.employeePlanProceedsFinancing","value":0.55,"unit":"USD million"},{"field":"2.flows.debtRaised","value":0.0,"unit":"USD million"},{"field":"2.flows.debtPrincipalRepaid","value":-0.0,"unit":"USD million"},{"field":"2.flows.extraStressUse","value":0,"unit":"USD million"},{"field":"2.endingCashBeforeTargetExercises","value":81.43628000000001,"unit":"USD million"},{"field":"2.endingDebt","value":0.0,"unit":"USD million"},{"field":"2.noncashAddbackRemovedUSDm","value":2.16,"unit":"USD million"},{"field":"2.liabilityTimingCashAdjustmentUSDm","value":2.16,"unit":"USD million"},{"field":"2.cashCompensationPaymentUSDm","value":0.0,"unit":"USD million"},{"field":"2.cashCostCountedOnceNetChangeUSDm","value":0.0,"unit":"USD million"}] USD million for signed cash/revenue values; period dates and quarter identifiers are header context, not monetary assumptions · forecast · Qualification Q30 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional scenarios.downside; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2027-04-01 / 2027-06-30; EACH signed cash item shown, compensation net payment counted once. ·
operativeQuarter 4 — signed cash/revenue/compensation reconciliation
[{"field":"3.quarter","value":4,"unit":"quarter index"},{"field":"3.periodStart","value":"2027-07-01","unit":"retained explanatory text"},{"field":"3.periodEnd","value":"2027-09-30","unit":"retained explanatory text"},{"field":"3.inclusiveDays","value":92,"unit":"USD million"},{"field":"3.recognizedRevenueHypothesis","value":35,"unit":"USD million"},{"field":"3.openingCash","value":81.43628000000001,"unit":"USD million"},{"field":"3.flows.operatingCashBeforeWorkingCapital","value":7.222720000000001,"unit":"USD million"},{"field":"3.flows.workingCapitalCash","value":-2.5,"unit":"USD million"},{"field":"3.flows.cashPPE","value":-0.6000000000000001,"unit":"USD million"},{"field":"3.flows.softwareCash","value":-0.0,"unit":"USD million"},{"field":"3.flows.acquisitionCash","value":0,"unit":"USD million"},{"field":"3.flows.ordinaryBuybackCash","value":-0.0,"unit":"USD million"},{"field":"3.flows.cashDistributions","value":-0.0,"unit":"USD million"},{"field":"3.flows.employeeTaxWithholdingCash","value":-0.75,"unit":"USD million"},{"field":"3.flows.employeePlanProceedsFinancing","value":0.55,"unit":"USD million"},{"field":"3.flows.debtRaised","value":0.0,"unit":"USD million"},{"field":"3.flows.debtPrincipalRepaid","value":-0.0,"unit":"USD million"},{"field":"3.flows.extraStressUse","value":0,"unit":"USD million"},{"field":"3.endingCashBeforeTargetExercises","value":85.35900000000001,"unit":"USD million"},{"field":"3.endingDebt","value":0.0,"unit":"USD million"},{"field":"3.noncashAddbackRemovedUSDm","value":2.56,"unit":"USD million"},{"field":"3.liabilityTimingCashAdjustmentUSDm","value":2.56,"unit":"USD million"},{"field":"3.cashCompensationPaymentUSDm","value":0.0,"unit":"USD million"},{"field":"3.cashCostCountedOnceNetChangeUSDm","value":0.0,"unit":"USD million"}] USD million for signed cash/revenue values; period dates and quarter identifiers are header context, not monetary assumptions · forecast · Qualification Q31 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional scenarios.downside; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2027-07-01 / 2027-09-30; EACH signed cash item shown, compensation net payment counted once. ·
matchedExpensePaymentAlternative 1 — signed cash/revenue/compensation reconciliation
[{"field":"0.quarter","value":1,"unit":"quarter index"},{"field":"0.cashPaymentUSDm","value":1.44,"unit":"USD million"},{"field":"0.noncashAddbackRemovedUSDm","value":1.44,"unit":"USD million"},{"field":"0.liabilityTimingCashAdjustmentUSDm","value":0.0,"unit":"USD million"},{"field":"0.operativeEndingCashUSDm","value":92.31078,"unit":"USD million"}] USD million for signed cash/revenue values; period dates and quarter identifiers are header context, not monetary assumptions · forecast · Qualification Q32 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional scenarios.downside; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2026-10-01 / 2027-09-30; EACH signed cash item shown, compensation net payment counted once. ·
matchedExpensePaymentAlternative 2 — signed cash/revenue/compensation reconciliation
[{"field":"1.quarter","value":2,"unit":"quarter index"},{"field":"1.cashPaymentUSDm","value":1.84,"unit":"USD million"},{"field":"1.noncashAddbackRemovedUSDm","value":1.84,"unit":"USD million"},{"field":"1.liabilityTimingCashAdjustmentUSDm","value":0.0,"unit":"USD million"},{"field":"1.operativeEndingCashUSDm","value":86.46211000000001,"unit":"USD million"}] USD million for signed cash/revenue values; period dates and quarter identifiers are header context, not monetary assumptions · forecast · Qualification Q32 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional scenarios.downside; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2026-10-01 / 2027-09-30; EACH signed cash item shown, compensation net payment counted once. ·
matchedExpensePaymentAlternative 3 — signed cash/revenue/compensation reconciliation
[{"field":"2.quarter","value":3,"unit":"quarter index"},{"field":"2.cashPaymentUSDm","value":2.16,"unit":"USD million"},{"field":"2.noncashAddbackRemovedUSDm","value":2.16,"unit":"USD million"},{"field":"2.liabilityTimingCashAdjustmentUSDm","value":0.0,"unit":"USD million"},{"field":"2.operativeEndingCashUSDm","value":83.99628000000001,"unit":"USD million"}] USD million for signed cash/revenue values; period dates and quarter identifiers are header context, not monetary assumptions · forecast · Qualification Q32 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional scenarios.downside; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2026-10-01 / 2027-09-30; EACH signed cash item shown, compensation net payment counted once. ·
matchedExpensePaymentAlternative 4 — signed cash/revenue/compensation reconciliation
[{"field":"3.quarter","value":4,"unit":"quarter index"},{"field":"3.cashPaymentUSDm","value":2.56,"unit":"USD million"},{"field":"3.noncashAddbackRemovedUSDm","value":2.56,"unit":"USD million"},{"field":"3.liabilityTimingCashAdjustmentUSDm","value":0.0,"unit":"USD million"},{"field":"3.operativeEndingCashUSDm","value":85.35900000000001,"unit":"USD million"}] USD million for signed cash/revenue values; period dates and quarter identifiers are header context, not monetary assumptions · forecast · Qualification Q32 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional scenarios.downside; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2026-10-01 / 2027-09-30; EACH signed cash item shown, compensation net payment counted once. ·
Matched expense/payment — minimum available cash after existing timing reserve
63.99628000000001 USD million · forecast · Qualification Q33 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2027-09-30', 'basis': 'Original economic model inclusive365 days; archived native cashPeriodEnd may be anniversary endpoint and is not silently relabeled'} ·
Matched expense/payment — terminal cash before hypothetical exercises
85.35900000000001 USD million · forecast · Qualification Q33 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2027-09-30', 'basis': 'Original economic model inclusive365 days; archived native cashPeriodEnd may be anniversary endpoint and is not silently relabeled'} ·
Matched expense/payment Q1 — operativeEndingCashUSDm
92.31078 USD million · forecast · Qualification Q34 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q1 — noncashAddbackRemovedUSDm
1.44 USD million · forecast · Qualification Q34 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q1 — liabilityTimingCashAdjustmentUSDm
0 USD million · forecast · Qualification Q34 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q1 — cashPaymentUSDm
1.44 USD million · forecast · Qualification Q34 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q1 — netCashChangeUSDm
-1.44 USD million · forecast · Qualification Q34 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q2 — operativeEndingCashUSDm
86.46211000000001 USD million · forecast · Qualification Q35 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q2 — noncashAddbackRemovedUSDm
1.84 USD million · forecast · Qualification Q35 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q2 — liabilityTimingCashAdjustmentUSDm
0 USD million · forecast · Qualification Q35 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q2 — cashPaymentUSDm
1.84 USD million · forecast · Qualification Q35 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q2 — netCashChangeUSDm
-1.84 USD million · forecast · Qualification Q35 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q3 — operativeEndingCashUSDm
83.99628000000001 USD million · forecast · Qualification Q36 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q3 — noncashAddbackRemovedUSDm
2.16 USD million · forecast · Qualification Q36 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q3 — liabilityTimingCashAdjustmentUSDm
0 USD million · forecast · Qualification Q36 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q3 — cashPaymentUSDm
2.16 USD million · forecast · Qualification Q36 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q3 — netCashChangeUSDm
-2.16 USD million · forecast · Qualification Q36 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q4 — operativeEndingCashUSDm
85.35900000000001 USD million · forecast · Qualification Q37 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q4 — noncashAddbackRemovedUSDm
2.56 USD million · forecast · Qualification Q37 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q4 — liabilityTimingCashAdjustmentUSDm
0 USD million · forecast · Qualification Q37 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q4 — cashPaymentUSDm
2.56 USD million · forecast · Qualification Q37 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q4 — netCashChangeUSDm
-2.56 USD million · forecast · Qualification Q37 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment — minimum available cash after existing timing reserve
61.43628000000001 USD million · forecast · Qualification Q33 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2027-09-30', 'basis': 'Original economic model inclusive365 days; archived native cashPeriodEnd may be anniversary endpoint and is not silently relabeled'} ·
Front-loaded cash/payment — terminal cash before hypothetical exercises
85.35900000000001 USD million · forecast · Qualification Q33 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2027-09-30', 'basis': 'Original economic model inclusive365 days; archived native cashPeriodEnd may be anniversary endpoint and is not silently relabeled'} ·
Front-loaded cash/payment Q1 — operativeEndingCashUSDm
85.75078 USD million · forecast · Qualification Q38 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q1 — noncashAddbackRemovedUSDm
1.44 USD million · forecast · Qualification Q38 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q1 — liabilityTimingCashAdjustmentUSDm
-6.56 USD million · forecast · Qualification Q38 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q1 — cashPaymentUSDm
8 USD million · forecast · Qualification Q38 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q1 — netCashChangeUSDm
-8 USD million · forecast · Qualification Q38 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q2 — operativeEndingCashUSDm
81.74211000000001 USD million · forecast · Qualification Q39 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q2 — noncashAddbackRemovedUSDm
1.84 USD million · forecast · Qualification Q39 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q2 — liabilityTimingCashAdjustmentUSDm
1.84 USD million · forecast · Qualification Q39 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q2 — cashPaymentUSDm
0 USD million · forecast · Qualification Q39 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q2 — netCashChangeUSDm
0 USD million · forecast · Qualification Q39 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q3 — operativeEndingCashUSDm
81.43628000000001 USD million · forecast · Qualification Q40 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q3 — noncashAddbackRemovedUSDm
2.16 USD million · forecast · Qualification Q40 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q3 — liabilityTimingCashAdjustmentUSDm
2.16 USD million · forecast · Qualification Q40 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q3 — cashPaymentUSDm
0 USD million · forecast · Qualification Q40 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q3 — netCashChangeUSDm
0 USD million · forecast · Qualification Q40 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q4 — operativeEndingCashUSDm
85.35900000000001 USD million · forecast · Qualification Q41 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q4 — noncashAddbackRemovedUSDm
2.56 USD million · forecast · Qualification Q41 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q4 — liabilityTimingCashAdjustmentUSDm
2.56 USD million · forecast · Qualification Q41 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q4 — cashPaymentUSDm
0 USD million · forecast · Qualification Q41 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q4 — netCashChangeUSDm
0 USD million · forecast · Qualification Q41 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
base — operative bounded cash · conditional-not-native-approval
Scenario period
2026-10-01 → 2027-09-30 · Original economic model inclusive365 days; archived native cashPeriodEnd may be anniversary endpoint and is not silently relabeled
0 — revenues
30 USD million · forecast · Qualification Q42 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
1 — revenues
35 USD million · forecast · Qualification Q42 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
2 — revenues
40 USD million · forecast · Qualification Q42 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
3 — revenues
55 USD million · forecast · Qualification Q42 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
adjusted Net Margin
0.22 fraction / ratio · forecast · Qualification Q42 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
sbc
8 USD million · forecast · Qualification Q42 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
amort
1.229 USD million · forecast · Qualification Q42 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
da
4 USD million · forecast · Qualification Q42 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
interest Net
3 USD million · forecast · Qualification Q42 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
tax Rate
0.2 fraction / ratio · forecast · Qualification Q42 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
wc
-32 USD million · forecast · Qualification Q42 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
capex
8 USD million · forecast · Qualification Q42 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
employee Proceeds
2.2 USD million · forecast · Qualification Q42 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
employee Withholding
3 USD million · forecast · Qualification Q42 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
shares
35 million ordinary shares (dated/weighted/analyst allowance as scoped) · forecast · Qualification Q42 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
multiple
118.3656310794694 valuation multiple x · forecast · Qualification Q42 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
recognized Revenue
160 USD million · forecast · Qualification Q42 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
gaap EBIT
29.463750000000005 USD million · forecast · Qualification Q42 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
gaap Operating Margin
0.18414843750000004 fraction / ratio · forecast · Qualification Q42 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
pretax
32.463750000000005 USD million · forecast · Qualification Q42 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
income Tax Expense
6.492750000000001 USD million · forecast · Qualification Q42 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
group NI
25.971000000000004 USD million · forecast · Qualification Q42 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
Net income attributable to common — stated preferred treatment
25.971000000000004 USD million · forecast · Qualification Q42 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
owner Income Diagnostic
25.971000000000004 USD million · forecast · Qualification Q42 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
Noncash CFO addback — after cash-settlement component
4 USD million · forecast · Qualification Q42 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
other Cfo
0 USD million · forecast · Qualification Q42 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
working Capital Cash
-32 USD million · forecast · Qualification Q42 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
Operating cash flow — stated period and case
-2.0289999999999964 USD million · forecast · Qualification Q42 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
adjusted Net Income Hypothesis
35.2 USD million · forecast · Qualification Q42 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
SBCExpense Charged No Tax Shield
8 USD million · forecast · Qualification Q42 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
acquired Amort Charged No Tax Shield
1.229 USD million · forecast · Qualification Q42 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
no Repeated FY26 Tax Benefit
true boolean qualification, not monetary measurement · not-applicable · Qualification Q42 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. ·
GAAPForecast Status
analyst GAAP-style reconciliation, not issuer guidance. Historical SAR cash expense included within SBC allowance; extra target SAR cash tested separately. retained explanatory text · not-applicable · Qualification Q42 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. ·
opening Cash
102.58800000000001 USD million · forecast · Qualification Q42 below. Exact immutable field-origin/proof mapping retained. Dated or assumed opening/reference stock used in a conditional model, not a newly observed cash/share balance. Original factual measurement/assumption dates and historical source evidence remain unchanged; future model use is distinct from source measurement. ·
Terminal cash BEFORE hypothetical exercises
91.75900000000001 USD million · forecast · Qualification Q42 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
terminal Cash Post Hypothetical Exercises
91.75900000000001 USD million · forecast · Qualification Q42 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
terminal Debt
0 USD million · forecast · Qualification Q42 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
terminal Ownership Claim
0 USD million · forecast · Qualification Q42 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
quarter Boundary Minimum Pre Exercises
81.75611 USD million · forecast · Qualification Q42 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
intra Quarter Timing Reserve
20 USD million · forecast · Qualification Q42 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
Minimum available cash — bounded analyst case
61.75611 USD million · forecast · Qualification Q42 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
policy Reserve Gap
0 USD million · forecast · Qualification Q42 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
cash Funding Status
conditional-positive-under-stated-assumptions retained explanatory text · not-applicable · Qualification Q42 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. ·
ordinary M
32.62045 million ordinary shares (dated/weighted/analyst allowance as scoped) · forecast · Qualification Q42 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
total Shares M
35 million ordinary shares (dated/weighted/analyst allowance as scoped) · forecast · Qualification Q42 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
forward Incremental Allowance M
2.379550000000002 million ordinary shares (dated/weighted/analyst allowance as scoped) · forecast · Qualification Q42 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
not Exact Fully Diluted
true boolean qualification, not monetary measurement · not-applicable · Qualification Q42 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. ·
exercise Cash USDm
0 USD million · forecast · Qualification Q42 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
convertible Shares M
0 million ordinary shares (dated/weighted/analyst allowance as scoped) · forecast · Qualification Q42 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
convertible Debt Removed
0 USD million · forecast · Qualification Q42 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
conversion Cash Settlement
0 USD million · forecast · Qualification Q42 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
conversion Price
Unknown (null) USD million · unknown · Qualification Q42 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
no Convert Treatment
none retained explanatory text · not-applicable · Qualification Q42 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. ·
applicability
source-reviewed no outstanding convertible financing in retained balance/debt notes; options/RSUs remain separate employee claims retained explanatory text · not-applicable · Qualification Q42 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. ·
terminal Shares M
35 million ordinary shares (dated/weighted/analyst allowance as scoped) · forecast · Qualification Q42 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
terminal Multiple
118.3656310794694 valuation multiple x · forecast · Qualification Q42 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
equity Pricing Identity
commonOwnerIncome*PE; no additive netcash/debt retained explanatory text · not-applicable · Qualification Q42 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. ·
terminal Equity USDm
3074.0738047649 USD million · forecast · Qualification Q42 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
Per-share scenario price — unchanged
87.83068013614 USD/share · forecast · Qualification Q42 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
price Ratio
0.8644752111734694 fraction / ratio · forecast · Qualification Q42 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
GAAPCommon PEContext
118.3656310794694 valuation multiple x · forecast · Qualification Q42 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
no Warrant Cash In Trough
true boolean qualification, not monetary measurement · not-applicable · Qualification Q42 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. ·
not Observed Daily Cash
true boolean qualification, not monetary measurement · not-applicable · Qualification Q42 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. ·
0 — operativeCashComponentRangeUSDm
0 USD million · forecast · Qualification Q42 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
1 — operativeCashComponentRangeUSDm
8 USD million · forecast · Qualification Q42 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
cash Endpoint Convention
c=upper existing expense budget, frontloaded within horizon for displayed operative cash;0cash/all-noncash and matched/delayed endpoints in separately bounded proof below retained explanatory text · not-applicable · Qualification Q42 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. ·
bound Conditions
If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. retained explanatory text · not-applicable · Qualification Q42 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. ·
minimum Bound Includes Original Timing Reserve
true boolean qualification, not monetary measurement · not-applicable · Qualification Q42 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. ·
operativeQuarter 1 — signed cash/revenue/compensation reconciliation
[{"field":"0.quarter","value":1,"unit":"quarter index"},{"field":"0.periodStart","value":"2026-10-01","unit":"retained explanatory text"},{"field":"0.periodEnd","value":"2026-12-31","unit":"retained explanatory text"},{"field":"0.inclusiveDays","value":92,"unit":"USD million"},{"field":"0.recognizedRevenueHypothesis","value":30,"unit":"USD million"},{"field":"0.openingCash","value":102.58800000000001,"unit":"USD million"},{"field":"0.flows.operatingCashBeforeWorkingCapital","value":-1.1652199999999997,"unit":"USD million"},{"field":"0.flows.workingCapitalCash","value":-12.8,"unit":"USD million"},{"field":"0.flows.cashPPE","value":-3.6,"unit":"USD million"},{"field":"0.flows.softwareCash","value":-0.0,"unit":"USD million"},{"field":"0.flows.acquisitionCash","value":-0.0,"unit":"USD million"},{"field":"0.flows.ordinaryBuybackCash","value":-0.0,"unit":"USD million"},{"field":"0.flows.cashDistributions","value":-0.0,"unit":"USD million"},{"field":"0.flows.employeeTaxWithholdingCash","value":-0.75,"unit":"USD million"},{"field":"0.flows.employeePlanProceedsFinancing","value":0.55,"unit":"USD million"},{"field":"0.flows.debtRaised","value":0.0,"unit":"USD million"},{"field":"0.flows.debtPrincipalRepaid","value":-0.0,"unit":"USD million"},{"field":"0.flows.extraStressUse","value":0,"unit":"USD million"},{"field":"0.endingCashBeforeTargetExercises","value":84.82278000000001,"unit":"USD million"},{"field":"0.endingDebt","value":0.0,"unit":"USD million"},{"field":"0.noncashAddbackRemovedUSDm","value":1.44,"unit":"USD million"},{"field":"0.liabilityTimingCashAdjustmentUSDm","value":-6.56,"unit":"USD million"},{"field":"0.cashCompensationPaymentUSDm","value":8.0,"unit":"USD million"},{"field":"0.cashCostCountedOnceNetChangeUSDm","value":-8.0,"unit":"USD million"}] USD million for signed cash/revenue values; period dates and quarter identifiers are header context, not monetary assumptions · forecast · Qualification Q43 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional scenarios.base; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2026-10-01 / 2026-12-31; EACH signed cash item shown, compensation net payment counted once. ·
operativeQuarter 2 — signed cash/revenue/compensation reconciliation
[{"field":"1.quarter","value":2,"unit":"quarter index"},{"field":"1.periodStart","value":"2027-01-01","unit":"retained explanatory text"},{"field":"1.periodEnd","value":"2027-03-31","unit":"retained explanatory text"},{"field":"1.inclusiveDays","value":90,"unit":"USD million"},{"field":"1.recognizedRevenueHypothesis","value":35,"unit":"USD million"},{"field":"1.openingCash","value":84.82278000000001,"unit":"USD million"},{"field":"1.flows.operatingCashBeforeWorkingCapital","value":8.73333,"unit":"USD million"},{"field":"1.flows.workingCapitalCash","value":-9.6,"unit":"USD million"},{"field":"1.flows.cashPPE","value":-2.0,"unit":"USD million"},{"field":"1.flows.softwareCash","value":-0.0,"unit":"USD million"},{"field":"1.flows.acquisitionCash","value":-0.0,"unit":"USD million"},{"field":"1.flows.ordinaryBuybackCash","value":-0.0,"unit":"USD million"},{"field":"1.flows.cashDistributions","value":-0.0,"unit":"USD million"},{"field":"1.flows.employeeTaxWithholdingCash","value":-0.75,"unit":"USD million"},{"field":"1.flows.employeePlanProceedsFinancing","value":0.55,"unit":"USD million"},{"field":"1.flows.debtRaised","value":0.0,"unit":"USD million"},{"field":"1.flows.debtPrincipalRepaid","value":-0.0,"unit":"USD million"},{"field":"1.flows.extraStressUse","value":0,"unit":"USD million"},{"field":"1.endingCashBeforeTargetExercises","value":81.75611,"unit":"USD million"},{"field":"1.endingDebt","value":0.0,"unit":"USD million"},{"field":"1.noncashAddbackRemovedUSDm","value":1.84,"unit":"USD million"},{"field":"1.liabilityTimingCashAdjustmentUSDm","value":1.84,"unit":"USD million"},{"field":"1.cashCompensationPaymentUSDm","value":0.0,"unit":"USD million"},{"field":"1.cashCostCountedOnceNetChangeUSDm","value":0.0,"unit":"USD million"}] USD million for signed cash/revenue values; period dates and quarter identifiers are header context, not monetary assumptions · forecast · Qualification Q44 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional scenarios.base; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2027-01-01 / 2027-03-31; EACH signed cash item shown, compensation net payment counted once. ·
operativeQuarter 3 — signed cash/revenue/compensation reconciliation
[{"field":"2.quarter","value":3,"unit":"quarter index"},{"field":"2.periodStart","value":"2027-04-01","unit":"retained explanatory text"},{"field":"2.periodEnd","value":"2027-06-30","unit":"retained explanatory text"},{"field":"2.inclusiveDays","value":91,"unit":"USD million"},{"field":"2.recognizedRevenueHypothesis","value":40,"unit":"USD million"},{"field":"2.openingCash","value":81.75611,"unit":"USD million"},{"field":"2.flows.operatingCashBeforeWorkingCapital","value":10.252170000000001,"unit":"USD million"},{"field":"2.flows.workingCapitalCash","value":-6.4,"unit":"USD million"},{"field":"2.flows.cashPPE","value":-1.6,"unit":"USD million"},{"field":"2.flows.softwareCash","value":-0.0,"unit":"USD million"},{"field":"2.flows.acquisitionCash","value":-0.0,"unit":"USD million"},{"field":"2.flows.ordinaryBuybackCash","value":-0.0,"unit":"USD million"},{"field":"2.flows.cashDistributions","value":-0.0,"unit":"USD million"},{"field":"2.flows.employeeTaxWithholdingCash","value":-0.75,"unit":"USD million"},{"field":"2.flows.employeePlanProceedsFinancing","value":0.55,"unit":"USD million"},{"field":"2.flows.debtRaised","value":0.0,"unit":"USD million"},{"field":"2.flows.debtPrincipalRepaid","value":-0.0,"unit":"USD million"},{"field":"2.flows.extraStressUse","value":0,"unit":"USD million"},{"field":"2.endingCashBeforeTargetExercises","value":83.80828000000001,"unit":"USD million"},{"field":"2.endingDebt","value":0.0,"unit":"USD million"},{"field":"2.noncashAddbackRemovedUSDm","value":2.16,"unit":"USD million"},{"field":"2.liabilityTimingCashAdjustmentUSDm","value":2.16,"unit":"USD million"},{"field":"2.cashCompensationPaymentUSDm","value":0.0,"unit":"USD million"},{"field":"2.cashCostCountedOnceNetChangeUSDm","value":0.0,"unit":"USD million"}] USD million for signed cash/revenue values; period dates and quarter identifiers are header context, not monetary assumptions · forecast · Qualification Q45 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional scenarios.base; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2027-04-01 / 2027-06-30; EACH signed cash item shown, compensation net payment counted once. ·
operativeQuarter 4 — signed cash/revenue/compensation reconciliation
[{"field":"3.quarter","value":4,"unit":"quarter index"},{"field":"3.periodStart","value":"2027-07-01","unit":"retained explanatory text"},{"field":"3.periodEnd","value":"2027-09-30","unit":"retained explanatory text"},{"field":"3.inclusiveDays","value":92,"unit":"USD million"},{"field":"3.recognizedRevenueHypothesis","value":55,"unit":"USD million"},{"field":"3.openingCash","value":83.80828000000001,"unit":"USD million"},{"field":"3.flows.operatingCashBeforeWorkingCapital","value":12.150720000000002,"unit":"USD million"},{"field":"3.flows.workingCapitalCash","value":-3.2,"unit":"USD million"},{"field":"3.flows.cashPPE","value":-0.8,"unit":"USD million"},{"field":"3.flows.softwareCash","value":-0.0,"unit":"USD million"},{"field":"3.flows.acquisitionCash","value":0,"unit":"USD million"},{"field":"3.flows.ordinaryBuybackCash","value":-0.0,"unit":"USD million"},{"field":"3.flows.cashDistributions","value":-0.0,"unit":"USD million"},{"field":"3.flows.employeeTaxWithholdingCash","value":-0.75,"unit":"USD million"},{"field":"3.flows.employeePlanProceedsFinancing","value":0.55,"unit":"USD million"},{"field":"3.flows.debtRaised","value":0.0,"unit":"USD million"},{"field":"3.flows.debtPrincipalRepaid","value":-0.0,"unit":"USD million"},{"field":"3.flows.extraStressUse","value":0,"unit":"USD million"},{"field":"3.endingCashBeforeTargetExercises","value":91.75900000000001,"unit":"USD million"},{"field":"3.endingDebt","value":0.0,"unit":"USD million"},{"field":"3.noncashAddbackRemovedUSDm","value":2.56,"unit":"USD million"},{"field":"3.liabilityTimingCashAdjustmentUSDm","value":2.56,"unit":"USD million"},{"field":"3.cashCompensationPaymentUSDm","value":0.0,"unit":"USD million"},{"field":"3.cashCostCountedOnceNetChangeUSDm","value":0.0,"unit":"USD million"}] USD million for signed cash/revenue values; period dates and quarter identifiers are header context, not monetary assumptions · forecast · Qualification Q46 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional scenarios.base; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2027-07-01 / 2027-09-30; EACH signed cash item shown, compensation net payment counted once. ·
matchedExpensePaymentAlternative 1 — signed cash/revenue/compensation reconciliation
[{"field":"0.quarter","value":1,"unit":"quarter index"},{"field":"0.cashPaymentUSDm","value":1.44,"unit":"USD million"},{"field":"0.noncashAddbackRemovedUSDm","value":1.44,"unit":"USD million"},{"field":"0.liabilityTimingCashAdjustmentUSDm","value":0.0,"unit":"USD million"},{"field":"0.operativeEndingCashUSDm","value":91.38278000000001,"unit":"USD million"}] USD million for signed cash/revenue values; period dates and quarter identifiers are header context, not monetary assumptions · forecast · Qualification Q47 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional scenarios.base; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2026-10-01 / 2027-09-30; EACH signed cash item shown, compensation net payment counted once. ·
matchedExpensePaymentAlternative 2 — signed cash/revenue/compensation reconciliation
[{"field":"1.quarter","value":2,"unit":"quarter index"},{"field":"1.cashPaymentUSDm","value":1.84,"unit":"USD million"},{"field":"1.noncashAddbackRemovedUSDm","value":1.84,"unit":"USD million"},{"field":"1.liabilityTimingCashAdjustmentUSDm","value":0.0,"unit":"USD million"},{"field":"1.operativeEndingCashUSDm","value":86.47611,"unit":"USD million"}] USD million for signed cash/revenue values; period dates and quarter identifiers are header context, not monetary assumptions · forecast · Qualification Q47 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional scenarios.base; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2026-10-01 / 2027-09-30; EACH signed cash item shown, compensation net payment counted once. ·
matchedExpensePaymentAlternative 3 — signed cash/revenue/compensation reconciliation
[{"field":"2.quarter","value":3,"unit":"quarter index"},{"field":"2.cashPaymentUSDm","value":2.16,"unit":"USD million"},{"field":"2.noncashAddbackRemovedUSDm","value":2.16,"unit":"USD million"},{"field":"2.liabilityTimingCashAdjustmentUSDm","value":0.0,"unit":"USD million"},{"field":"2.operativeEndingCashUSDm","value":86.36828000000001,"unit":"USD million"}] USD million for signed cash/revenue values; period dates and quarter identifiers are header context, not monetary assumptions · forecast · Qualification Q47 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional scenarios.base; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2026-10-01 / 2027-09-30; EACH signed cash item shown, compensation net payment counted once. ·
matchedExpensePaymentAlternative 4 — signed cash/revenue/compensation reconciliation
[{"field":"3.quarter","value":4,"unit":"quarter index"},{"field":"3.cashPaymentUSDm","value":2.56,"unit":"USD million"},{"field":"3.noncashAddbackRemovedUSDm","value":2.56,"unit":"USD million"},{"field":"3.liabilityTimingCashAdjustmentUSDm","value":0.0,"unit":"USD million"},{"field":"3.operativeEndingCashUSDm","value":91.75900000000001,"unit":"USD million"}] USD million for signed cash/revenue values; period dates and quarter identifiers are header context, not monetary assumptions · forecast · Qualification Q47 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional scenarios.base; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2026-10-01 / 2027-09-30; EACH signed cash item shown, compensation net payment counted once. ·
Matched expense/payment — minimum available cash after existing timing reserve
66.36828000000001 USD million · forecast · Qualification Q33 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2027-09-30', 'basis': 'Original economic model inclusive365 days; archived native cashPeriodEnd may be anniversary endpoint and is not silently relabeled'} ·
Matched expense/payment — terminal cash before hypothetical exercises
91.75900000000001 USD million · forecast · Qualification Q33 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2027-09-30', 'basis': 'Original economic model inclusive365 days; archived native cashPeriodEnd may be anniversary endpoint and is not silently relabeled'} ·
Matched expense/payment Q1 — operativeEndingCashUSDm
91.38278000000001 USD million · forecast · Qualification Q34 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q1 — noncashAddbackRemovedUSDm
1.44 USD million · forecast · Qualification Q34 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q1 — liabilityTimingCashAdjustmentUSDm
0 USD million · forecast · Qualification Q34 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q1 — cashPaymentUSDm
1.44 USD million · forecast · Qualification Q34 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q1 — netCashChangeUSDm
-1.44 USD million · forecast · Qualification Q34 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q2 — operativeEndingCashUSDm
86.47611 USD million · forecast · Qualification Q35 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q2 — noncashAddbackRemovedUSDm
1.84 USD million · forecast · Qualification Q35 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q2 — liabilityTimingCashAdjustmentUSDm
0 USD million · forecast · Qualification Q35 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q2 — cashPaymentUSDm
1.84 USD million · forecast · Qualification Q35 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q2 — netCashChangeUSDm
-1.84 USD million · forecast · Qualification Q35 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q3 — operativeEndingCashUSDm
86.36828000000001 USD million · forecast · Qualification Q36 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q3 — noncashAddbackRemovedUSDm
2.16 USD million · forecast · Qualification Q36 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q3 — liabilityTimingCashAdjustmentUSDm
0 USD million · forecast · Qualification Q36 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q3 — cashPaymentUSDm
2.16 USD million · forecast · Qualification Q36 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q3 — netCashChangeUSDm
-2.16 USD million · forecast · Qualification Q36 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q4 — operativeEndingCashUSDm
91.75900000000001 USD million · forecast · Qualification Q37 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q4 — noncashAddbackRemovedUSDm
2.56 USD million · forecast · Qualification Q37 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q4 — liabilityTimingCashAdjustmentUSDm
0 USD million · forecast · Qualification Q37 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q4 — cashPaymentUSDm
2.56 USD million · forecast · Qualification Q37 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q4 — netCashChangeUSDm
-2.56 USD million · forecast · Qualification Q37 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment — minimum available cash after existing timing reserve
61.75611 USD million · forecast · Qualification Q33 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2027-09-30', 'basis': 'Original economic model inclusive365 days; archived native cashPeriodEnd may be anniversary endpoint and is not silently relabeled'} ·
Front-loaded cash/payment — terminal cash before hypothetical exercises
91.75900000000001 USD million · forecast · Qualification Q33 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2027-09-30', 'basis': 'Original economic model inclusive365 days; archived native cashPeriodEnd may be anniversary endpoint and is not silently relabeled'} ·
Front-loaded cash/payment Q1 — operativeEndingCashUSDm
84.82278000000001 USD million · forecast · Qualification Q38 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q1 — noncashAddbackRemovedUSDm
1.44 USD million · forecast · Qualification Q38 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q1 — liabilityTimingCashAdjustmentUSDm
-6.56 USD million · forecast · Qualification Q38 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q1 — cashPaymentUSDm
8 USD million · forecast · Qualification Q38 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q1 — netCashChangeUSDm
-8 USD million · forecast · Qualification Q38 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q2 — operativeEndingCashUSDm
81.75611 USD million · forecast · Qualification Q39 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q2 — noncashAddbackRemovedUSDm
1.84 USD million · forecast · Qualification Q39 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q2 — liabilityTimingCashAdjustmentUSDm
1.84 USD million · forecast · Qualification Q39 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q2 — cashPaymentUSDm
0 USD million · forecast · Qualification Q39 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q2 — netCashChangeUSDm
0 USD million · forecast · Qualification Q39 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q3 — operativeEndingCashUSDm
83.80828000000001 USD million · forecast · Qualification Q40 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q3 — noncashAddbackRemovedUSDm
2.16 USD million · forecast · Qualification Q40 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q3 — liabilityTimingCashAdjustmentUSDm
2.16 USD million · forecast · Qualification Q40 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q3 — cashPaymentUSDm
0 USD million · forecast · Qualification Q40 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q3 — netCashChangeUSDm
0 USD million · forecast · Qualification Q40 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q4 — operativeEndingCashUSDm
91.75900000000001 USD million · forecast · Qualification Q41 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q4 — noncashAddbackRemovedUSDm
2.56 USD million · forecast · Qualification Q41 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q4 — liabilityTimingCashAdjustmentUSDm
2.56 USD million · forecast · Qualification Q41 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q4 — cashPaymentUSDm
0 USD million · forecast · Qualification Q41 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q4 — netCashChangeUSDm
0 USD million · forecast · Qualification Q41 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
bull — operative bounded cash · conditional-not-native-approval
Scenario period
2026-10-01 → 2027-09-30 · Original economic model inclusive365 days; archived native cashPeriodEnd may be anniversary endpoint and is not silently relabeled
0 — revenues
40 USD million · forecast · Qualification Q48 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
1 — revenues
50 USD million · forecast · Qualification Q48 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
2 — revenues
60 USD million · forecast · Qualification Q48 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
3 — revenues
70 USD million · forecast · Qualification Q48 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
adjusted Net Margin
0.25 fraction / ratio · forecast · Qualification Q48 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
sbc
8 USD million · forecast · Qualification Q48 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
amort
1.229 USD million · forecast · Qualification Q48 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
da
5 USD million · forecast · Qualification Q48 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
interest Net
3 USD million · forecast · Qualification Q48 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
tax Rate
0.2 fraction / ratio · forecast · Qualification Q48 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
wc
-45 USD million · forecast · Qualification Q48 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
capex
10 USD million · forecast · Qualification Q48 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
employee Proceeds
2.2 USD million · forecast · Qualification Q48 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
employee Withholding
3 USD million · forecast · Qualification Q48 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
shares
35 million ordinary shares (dated/weighted/analyst allowance as scoped) · forecast · Qualification Q48 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
multiple
156.04490184213677 valuation multiple x · forecast · Qualification Q48 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
recognized Revenue
220 USD million · forecast · Qualification Q48 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
gaap EBIT
54.213750000000005 USD million · forecast · Qualification Q48 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
gaap Operating Margin
0.2464261363636364 fraction / ratio · forecast · Qualification Q48 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
pretax
57.213750000000005 USD million · forecast · Qualification Q48 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
income Tax Expense
11.44275 USD million · forecast · Qualification Q48 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
group NI
45.771 USD million · forecast · Qualification Q48 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
Net income attributable to common — stated preferred treatment
45.771 USD million · forecast · Qualification Q48 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
owner Income Diagnostic
45.771 USD million · forecast · Qualification Q48 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
Noncash CFO addback — after cash-settlement component
5 USD million · forecast · Qualification Q48 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
other Cfo
0 USD million · forecast · Qualification Q48 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
working Capital Cash
-45 USD million · forecast · Qualification Q48 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
Operating cash flow — stated period and case
5.771000000000001 USD million · forecast · Qualification Q48 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
adjusted Net Income Hypothesis
55 USD million · forecast · Qualification Q48 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
SBCExpense Charged No Tax Shield
8 USD million · forecast · Qualification Q48 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
acquired Amort Charged No Tax Shield
1.229 USD million · forecast · Qualification Q48 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
no Repeated FY26 Tax Benefit
true boolean qualification, not monetary measurement · not-applicable · Qualification Q48 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. ·
GAAPForecast Status
analyst GAAP-style reconciliation, not issuer guidance. Historical SAR cash expense included within SBC allowance; extra target SAR cash tested separately. retained explanatory text · not-applicable · Qualification Q48 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. ·
opening Cash
102.58800000000001 USD million · forecast · Qualification Q48 below. Exact immutable field-origin/proof mapping retained. Dated or assumed opening/reference stock used in a conditional model, not a newly observed cash/share balance. Original factual measurement/assumption dates and historical source evidence remain unchanged; future model use is distinct from source measurement. ·
Terminal cash BEFORE hypothetical exercises
97.55900000000003 USD million · forecast · Qualification Q48 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
terminal Cash Post Hypothetical Exercises
97.55900000000003 USD million · forecast · Qualification Q48 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
terminal Debt
0 USD million · forecast · Qualification Q48 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
terminal Ownership Claim
0 USD million · forecast · Qualification Q48 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
quarter Boundary Minimum Pre Exercises
79.78411000000001 USD million · forecast · Qualification Q48 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
intra Quarter Timing Reserve
20 USD million · forecast · Qualification Q48 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
Minimum available cash — bounded analyst case
59.78411000000001 USD million · forecast · Qualification Q48 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
policy Reserve Gap
0 USD million · forecast · Qualification Q48 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
cash Funding Status
conditional-positive-under-stated-assumptions retained explanatory text · not-applicable · Qualification Q48 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. ·
ordinary M
32.62045 million ordinary shares (dated/weighted/analyst allowance as scoped) · forecast · Qualification Q48 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
total Shares M
35 million ordinary shares (dated/weighted/analyst allowance as scoped) · forecast · Qualification Q48 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
forward Incremental Allowance M
2.379550000000002 million ordinary shares (dated/weighted/analyst allowance as scoped) · forecast · Qualification Q48 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
not Exact Fully Diluted
true boolean qualification, not monetary measurement · not-applicable · Qualification Q48 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. ·
exercise Cash USDm
0 USD million · forecast · Qualification Q48 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
convertible Shares M
0 million ordinary shares (dated/weighted/analyst allowance as scoped) · forecast · Qualification Q48 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
convertible Debt Removed
0 USD million · forecast · Qualification Q48 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
conversion Cash Settlement
0 USD million · forecast · Qualification Q48 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
conversion Price
Unknown (null) USD million · unknown · Qualification Q48 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
no Convert Treatment
none retained explanatory text · not-applicable · Qualification Q48 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. ·
applicability
source-reviewed no outstanding convertible financing in retained balance/debt notes; options/RSUs remain separate employee claims retained explanatory text · not-applicable · Qualification Q48 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. ·
terminal Shares M
35 million ordinary shares (dated/weighted/analyst allowance as scoped) · forecast · Qualification Q48 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
terminal Multiple
156.04490184213677 valuation multiple x · forecast · Qualification Q48 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
equity Pricing Identity
commonOwnerIncome*PE; no additive netcash/debt retained explanatory text · not-applicable · Qualification Q48 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. ·
terminal Equity USDm
7142.331202216442 USD million · forecast · Qualification Q48 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
Per-share scenario price — unchanged
204.06660577761264 USD/share · forecast · Qualification Q48 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
price Ratio
2.0085296145904095 fraction / ratio · forecast · Qualification Q48 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
GAAPCommon PEContext
156.04490184213677 valuation multiple x · forecast · Qualification Q48 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
no Warrant Cash In Trough
true boolean qualification, not monetary measurement · not-applicable · Qualification Q48 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. ·
not Observed Daily Cash
true boolean qualification, not monetary measurement · not-applicable · Qualification Q48 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. ·
0 — operativeCashComponentRangeUSDm
0 USD million · forecast · Qualification Q48 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
1 — operativeCashComponentRangeUSDm
8 USD million · forecast · Qualification Q48 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. ·
cash Endpoint Convention
c=upper existing expense budget, frontloaded within horizon for displayed operative cash;0cash/all-noncash and matched/delayed endpoints in separately bounded proof below retained explanatory text · not-applicable · Qualification Q48 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. ·
bound Conditions
If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. retained explanatory text · not-applicable · Qualification Q48 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. ·
minimum Bound Includes Original Timing Reserve
true boolean qualification, not monetary measurement · not-applicable · Qualification Q48 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. ·
operativeQuarter 1 — signed cash/revenue/compensation reconciliation
[{"field":"0.quarter","value":1,"unit":"quarter index"},{"field":"0.periodStart","value":"2026-10-01","unit":"retained explanatory text"},{"field":"0.periodEnd","value":"2026-12-31","unit":"retained explanatory text"},{"field":"0.inclusiveDays","value":92,"unit":"USD million"},{"field":"0.recognizedRevenueHypothesis","value":40,"unit":"USD million"},{"field":"0.openingCash","value":102.58800000000001,"unit":"USD million"},{"field":"0.flows.operatingCashBeforeWorkingCapital","value":2.57878,"unit":"USD million"},{"field":"0.flows.workingCapitalCash","value":-18.0,"unit":"USD million"},{"field":"0.flows.cashPPE","value":-4.5,"unit":"USD million"},{"field":"0.flows.softwareCash","value":-0.0,"unit":"USD million"},{"field":"0.flows.acquisitionCash","value":-0.0,"unit":"USD million"},{"field":"0.flows.ordinaryBuybackCash","value":-0.0,"unit":"USD million"},{"field":"0.flows.cashDistributions","value":-0.0,"unit":"USD million"},{"field":"0.flows.employeeTaxWithholdingCash","value":-0.75,"unit":"USD million"},{"field":"0.flows.employeePlanProceedsFinancing","value":0.55,"unit":"USD million"},{"field":"0.flows.debtRaised","value":0.0,"unit":"USD million"},{"field":"0.flows.debtPrincipalRepaid","value":-0.0,"unit":"USD million"},{"field":"0.flows.extraStressUse","value":0,"unit":"USD million"},{"field":"0.endingCashBeforeTargetExercises","value":82.46678000000001,"unit":"USD million"},{"field":"0.endingDebt","value":0.0,"unit":"USD million"},{"field":"0.noncashAddbackRemovedUSDm","value":1.44,"unit":"USD million"},{"field":"0.liabilityTimingCashAdjustmentUSDm","value":-6.56,"unit":"USD million"},{"field":"0.cashCompensationPaymentUSDm","value":8.0,"unit":"USD million"},{"field":"0.cashCostCountedOnceNetChangeUSDm","value":-8.0,"unit":"USD million"}] USD million for signed cash/revenue values; period dates and quarter identifiers are header context, not monetary assumptions · forecast · Qualification Q49 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional scenarios.bull; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2026-10-01 / 2026-12-31; EACH signed cash item shown, compensation net payment counted once. ·
operativeQuarter 2 — signed cash/revenue/compensation reconciliation
[{"field":"1.quarter","value":2,"unit":"quarter index"},{"field":"1.periodStart","value":"2027-01-01","unit":"retained explanatory text"},{"field":"1.periodEnd","value":"2027-03-31","unit":"retained explanatory text"},{"field":"1.inclusiveDays","value":90,"unit":"USD million"},{"field":"1.recognizedRevenueHypothesis","value":50,"unit":"USD million"},{"field":"1.openingCash","value":82.46678000000001,"unit":"USD million"},{"field":"1.flows.operatingCashBeforeWorkingCapital","value":13.517330000000001,"unit":"USD million"},{"field":"1.flows.workingCapitalCash","value":-13.5,"unit":"USD million"},{"field":"1.flows.cashPPE","value":-2.5,"unit":"USD million"},{"field":"1.flows.softwareCash","value":-0.0,"unit":"USD million"},{"field":"1.flows.acquisitionCash","value":-0.0,"unit":"USD million"},{"field":"1.flows.ordinaryBuybackCash","value":-0.0,"unit":"USD million"},{"field":"1.flows.cashDistributions","value":-0.0,"unit":"USD million"},{"field":"1.flows.employeeTaxWithholdingCash","value":-0.75,"unit":"USD million"},{"field":"1.flows.employeePlanProceedsFinancing","value":0.55,"unit":"USD million"},{"field":"1.flows.debtRaised","value":0.0,"unit":"USD million"},{"field":"1.flows.debtPrincipalRepaid","value":-0.0,"unit":"USD million"},{"field":"1.flows.extraStressUse","value":0,"unit":"USD million"},{"field":"1.endingCashBeforeTargetExercises","value":79.78411000000001,"unit":"USD million"},{"field":"1.endingDebt","value":0.0,"unit":"USD million"},{"field":"1.noncashAddbackRemovedUSDm","value":1.84,"unit":"USD million"},{"field":"1.liabilityTimingCashAdjustmentUSDm","value":1.84,"unit":"USD million"},{"field":"1.cashCompensationPaymentUSDm","value":0.0,"unit":"USD million"},{"field":"1.cashCostCountedOnceNetChangeUSDm","value":0.0,"unit":"USD million"}] USD million for signed cash/revenue values; period dates and quarter identifiers are header context, not monetary assumptions · forecast · Qualification Q50 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional scenarios.bull; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2027-01-01 / 2027-03-31; EACH signed cash item shown, compensation net payment counted once. ·
operativeQuarter 3 — signed cash/revenue/compensation reconciliation
[{"field":"2.quarter","value":3,"unit":"quarter index"},{"field":"2.periodStart","value":"2027-04-01","unit":"retained explanatory text"},{"field":"2.periodEnd","value":"2027-06-30","unit":"retained explanatory text"},{"field":"2.inclusiveDays","value":91,"unit":"USD million"},{"field":"2.recognizedRevenueHypothesis","value":60,"unit":"USD million"},{"field":"2.openingCash","value":79.78411000000001,"unit":"USD million"},{"field":"2.flows.operatingCashBeforeWorkingCapital","value":15.868170000000001,"unit":"USD million"},{"field":"2.flows.workingCapitalCash","value":-9.0,"unit":"USD million"},{"field":"2.flows.cashPPE","value":-2.0,"unit":"USD million"},{"field":"2.flows.softwareCash","value":-0.0,"unit":"USD million"},{"field":"2.flows.acquisitionCash","value":-0.0,"unit":"USD million"},{"field":"2.flows.ordinaryBuybackCash","value":-0.0,"unit":"USD million"},{"field":"2.flows.cashDistributions","value":-0.0,"unit":"USD million"},{"field":"2.flows.employeeTaxWithholdingCash","value":-0.75,"unit":"USD million"},{"field":"2.flows.employeePlanProceedsFinancing","value":0.55,"unit":"USD million"},{"field":"2.flows.debtRaised","value":0.0,"unit":"USD million"},{"field":"2.flows.debtPrincipalRepaid","value":-0.0,"unit":"USD million"},{"field":"2.flows.extraStressUse","value":0,"unit":"USD million"},{"field":"2.endingCashBeforeTargetExercises","value":84.45228000000002,"unit":"USD million"},{"field":"2.endingDebt","value":0.0,"unit":"USD million"},{"field":"2.noncashAddbackRemovedUSDm","value":2.16,"unit":"USD million"},{"field":"2.liabilityTimingCashAdjustmentUSDm","value":2.16,"unit":"USD million"},{"field":"2.cashCompensationPaymentUSDm","value":0.0,"unit":"USD million"},{"field":"2.cashCostCountedOnceNetChangeUSDm","value":0.0,"unit":"USD million"}] USD million for signed cash/revenue values; period dates and quarter identifiers are header context, not monetary assumptions · forecast · Qualification Q51 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional scenarios.bull; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2027-04-01 / 2027-06-30; EACH signed cash item shown, compensation net payment counted once. ·
operativeQuarter 4 — signed cash/revenue/compensation reconciliation
[{"field":"3.quarter","value":4,"unit":"quarter index"},{"field":"3.periodStart","value":"2027-07-01","unit":"retained explanatory text"},{"field":"3.periodEnd","value":"2027-09-30","unit":"retained explanatory text"},{"field":"3.inclusiveDays","value":92,"unit":"USD million"},{"field":"3.recognizedRevenueHypothesis","value":70,"unit":"USD million"},{"field":"3.openingCash","value":84.45228000000002,"unit":"USD million"},{"field":"3.flows.operatingCashBeforeWorkingCapital","value":18.806720000000002,"unit":"USD million"},{"field":"3.flows.workingCapitalCash","value":-4.5,"unit":"USD million"},{"field":"3.flows.cashPPE","value":-1.0,"unit":"USD million"},{"field":"3.flows.softwareCash","value":-0.0,"unit":"USD million"},{"field":"3.flows.acquisitionCash","value":0,"unit":"USD million"},{"field":"3.flows.ordinaryBuybackCash","value":-0.0,"unit":"USD million"},{"field":"3.flows.cashDistributions","value":-0.0,"unit":"USD million"},{"field":"3.flows.employeeTaxWithholdingCash","value":-0.75,"unit":"USD million"},{"field":"3.flows.employeePlanProceedsFinancing","value":0.55,"unit":"USD million"},{"field":"3.flows.debtRaised","value":0.0,"unit":"USD million"},{"field":"3.flows.debtPrincipalRepaid","value":-0.0,"unit":"USD million"},{"field":"3.flows.extraStressUse","value":0,"unit":"USD million"},{"field":"3.endingCashBeforeTargetExercises","value":97.55900000000003,"unit":"USD million"},{"field":"3.endingDebt","value":0.0,"unit":"USD million"},{"field":"3.noncashAddbackRemovedUSDm","value":2.56,"unit":"USD million"},{"field":"3.liabilityTimingCashAdjustmentUSDm","value":2.56,"unit":"USD million"},{"field":"3.cashCompensationPaymentUSDm","value":0.0,"unit":"USD million"},{"field":"3.cashCostCountedOnceNetChangeUSDm","value":0.0,"unit":"USD million"}] USD million for signed cash/revenue values; period dates and quarter identifiers are header context, not monetary assumptions · forecast · Qualification Q52 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional scenarios.bull; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2027-07-01 / 2027-09-30; EACH signed cash item shown, compensation net payment counted once. ·
matchedExpensePaymentAlternative 1 — signed cash/revenue/compensation reconciliation
[{"field":"0.quarter","value":1,"unit":"quarter index"},{"field":"0.cashPaymentUSDm","value":1.44,"unit":"USD million"},{"field":"0.noncashAddbackRemovedUSDm","value":1.44,"unit":"USD million"},{"field":"0.liabilityTimingCashAdjustmentUSDm","value":0.0,"unit":"USD million"},{"field":"0.operativeEndingCashUSDm","value":89.02678000000002,"unit":"USD million"}] USD million for signed cash/revenue values; period dates and quarter identifiers are header context, not monetary assumptions · forecast · Qualification Q53 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional scenarios.bull; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2026-10-01 / 2027-09-30; EACH signed cash item shown, compensation net payment counted once. ·
matchedExpensePaymentAlternative 2 — signed cash/revenue/compensation reconciliation
[{"field":"1.quarter","value":2,"unit":"quarter index"},{"field":"1.cashPaymentUSDm","value":1.84,"unit":"USD million"},{"field":"1.noncashAddbackRemovedUSDm","value":1.84,"unit":"USD million"},{"field":"1.liabilityTimingCashAdjustmentUSDm","value":0.0,"unit":"USD million"},{"field":"1.operativeEndingCashUSDm","value":84.50411000000001,"unit":"USD million"}] USD million for signed cash/revenue values; period dates and quarter identifiers are header context, not monetary assumptions · forecast · Qualification Q53 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional scenarios.bull; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2026-10-01 / 2027-09-30; EACH signed cash item shown, compensation net payment counted once. ·
matchedExpensePaymentAlternative 3 — signed cash/revenue/compensation reconciliation
[{"field":"2.quarter","value":3,"unit":"quarter index"},{"field":"2.cashPaymentUSDm","value":2.16,"unit":"USD million"},{"field":"2.noncashAddbackRemovedUSDm","value":2.16,"unit":"USD million"},{"field":"2.liabilityTimingCashAdjustmentUSDm","value":0.0,"unit":"USD million"},{"field":"2.operativeEndingCashUSDm","value":87.01228000000002,"unit":"USD million"}] USD million for signed cash/revenue values; period dates and quarter identifiers are header context, not monetary assumptions · forecast · Qualification Q53 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional scenarios.bull; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2026-10-01 / 2027-09-30; EACH signed cash item shown, compensation net payment counted once. ·
matchedExpensePaymentAlternative 4 — signed cash/revenue/compensation reconciliation
[{"field":"3.quarter","value":4,"unit":"quarter index"},{"field":"3.cashPaymentUSDm","value":2.56,"unit":"USD million"},{"field":"3.noncashAddbackRemovedUSDm","value":2.56,"unit":"USD million"},{"field":"3.liabilityTimingCashAdjustmentUSDm","value":0.0,"unit":"USD million"},{"field":"3.operativeEndingCashUSDm","value":97.55900000000003,"unit":"USD million"}] USD million for signed cash/revenue values; period dates and quarter identifiers are header context, not monetary assumptions · forecast · Qualification Q53 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional scenarios.bull; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2026-10-01 / 2027-09-30; EACH signed cash item shown, compensation net payment counted once. ·
Matched expense/payment — minimum available cash after existing timing reserve
64.50411000000001 USD million · forecast · Qualification Q33 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2027-09-30', 'basis': 'Original economic model inclusive365 days; archived native cashPeriodEnd may be anniversary endpoint and is not silently relabeled'} ·
Matched expense/payment — terminal cash before hypothetical exercises
97.55900000000003 USD million · forecast · Qualification Q33 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2027-09-30', 'basis': 'Original economic model inclusive365 days; archived native cashPeriodEnd may be anniversary endpoint and is not silently relabeled'} ·
Matched expense/payment Q1 — operativeEndingCashUSDm
89.02678000000002 USD million · forecast · Qualification Q34 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q1 — noncashAddbackRemovedUSDm
1.44 USD million · forecast · Qualification Q34 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q1 — liabilityTimingCashAdjustmentUSDm
0 USD million · forecast · Qualification Q34 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q1 — cashPaymentUSDm
1.44 USD million · forecast · Qualification Q34 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q1 — netCashChangeUSDm
-1.44 USD million · forecast · Qualification Q34 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q2 — operativeEndingCashUSDm
84.50411000000001 USD million · forecast · Qualification Q35 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q2 — noncashAddbackRemovedUSDm
1.84 USD million · forecast · Qualification Q35 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q2 — liabilityTimingCashAdjustmentUSDm
0 USD million · forecast · Qualification Q35 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q2 — cashPaymentUSDm
1.84 USD million · forecast · Qualification Q35 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q2 — netCashChangeUSDm
-1.84 USD million · forecast · Qualification Q35 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q3 — operativeEndingCashUSDm
87.01228000000002 USD million · forecast · Qualification Q36 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q3 — noncashAddbackRemovedUSDm
2.16 USD million · forecast · Qualification Q36 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q3 — liabilityTimingCashAdjustmentUSDm
0 USD million · forecast · Qualification Q36 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q3 — cashPaymentUSDm
2.16 USD million · forecast · Qualification Q36 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q3 — netCashChangeUSDm
-2.16 USD million · forecast · Qualification Q36 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q4 — operativeEndingCashUSDm
97.55900000000003 USD million · forecast · Qualification Q37 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q4 — noncashAddbackRemovedUSDm
2.56 USD million · forecast · Qualification Q37 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q4 — liabilityTimingCashAdjustmentUSDm
0 USD million · forecast · Qualification Q37 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q4 — cashPaymentUSDm
2.56 USD million · forecast · Qualification Q37 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q4 — netCashChangeUSDm
-2.56 USD million · forecast · Qualification Q37 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment — minimum available cash after existing timing reserve
59.78411000000001 USD million · forecast · Qualification Q33 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2027-09-30', 'basis': 'Original economic model inclusive365 days; archived native cashPeriodEnd may be anniversary endpoint and is not silently relabeled'} ·
Front-loaded cash/payment — terminal cash before hypothetical exercises
97.55900000000003 USD million · forecast · Qualification Q33 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2027-09-30', 'basis': 'Original economic model inclusive365 days; archived native cashPeriodEnd may be anniversary endpoint and is not silently relabeled'} ·
Front-loaded cash/payment Q1 — operativeEndingCashUSDm
82.46678000000001 USD million · forecast · Qualification Q38 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q1 — noncashAddbackRemovedUSDm
1.44 USD million · forecast · Qualification Q38 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q1 — liabilityTimingCashAdjustmentUSDm
-6.56 USD million · forecast · Qualification Q38 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q1 — cashPaymentUSDm
8 USD million · forecast · Qualification Q38 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q1 — netCashChangeUSDm
-8 USD million · forecast · Qualification Q38 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q2 — operativeEndingCashUSDm
79.78411000000001 USD million · forecast · Qualification Q39 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q2 — noncashAddbackRemovedUSDm
1.84 USD million · forecast · Qualification Q39 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q2 — liabilityTimingCashAdjustmentUSDm
1.84 USD million · forecast · Qualification Q39 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q2 — cashPaymentUSDm
0 USD million · forecast · Qualification Q39 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q2 — netCashChangeUSDm
0 USD million · forecast · Qualification Q39 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q3 — operativeEndingCashUSDm
84.45228000000002 USD million · forecast · Qualification Q40 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q3 — noncashAddbackRemovedUSDm
2.16 USD million · forecast · Qualification Q40 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q3 — liabilityTimingCashAdjustmentUSDm
2.16 USD million · forecast · Qualification Q40 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q3 — cashPaymentUSDm
0 USD million · forecast · Qualification Q40 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q3 — netCashChangeUSDm
0 USD million · forecast · Qualification Q40 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q4 — operativeEndingCashUSDm
97.55900000000003 USD million · forecast · Qualification Q41 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q4 — noncashAddbackRemovedUSDm
2.56 USD million · forecast · Qualification Q41 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q4 — liabilityTimingCashAdjustmentUSDm
2.56 USD million · forecast · Qualification Q41 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q4 — cashPaymentUSDm
0 USD million · forecast · Qualification Q41 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q4 — netCashChangeUSDm
0 USD million · forecast · Qualification Q41 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
retainedCompatibleReference — operative bounded cash · conditional-not-native-approval
Scenario period
2026-10-01 → 2027-09-30 · Original economic model inclusive365 days; archived native cashPeriodEnd may be anniversary endpoint and is not silently relabeled
0 — revenues
40 USD million · forecast · Qualification Q54 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.retainedCompatibleReference; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
1 — revenues
50 USD million · forecast · Qualification Q54 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.retainedCompatibleReference; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
2 — revenues
60 USD million · forecast · Qualification Q54 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.retainedCompatibleReference; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
3 — revenues
70 USD million · forecast · Qualification Q54 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.retainedCompatibleReference; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
adjusted Net Margin
0.25 fraction / ratio · forecast · Qualification Q54 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.retainedCompatibleReference; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
sbc
8 USD million · forecast · Qualification Q54 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.retainedCompatibleReference; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
amort
1.229 USD million · forecast · Qualification Q54 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.retainedCompatibleReference; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
da
5 USD million · forecast · Qualification Q54 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.retainedCompatibleReference; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
interest Net
3 USD million · forecast · Qualification Q54 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.retainedCompatibleReference; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
tax Rate
0.2 fraction / ratio · forecast · Qualification Q54 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.retainedCompatibleReference; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
wc
-45 USD million · forecast · Qualification Q54 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.retainedCompatibleReference; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
capex
10 USD million · forecast · Qualification Q54 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.retainedCompatibleReference; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
employee Proceeds
2.2 USD million · forecast · Qualification Q54 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.retainedCompatibleReference; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
employee Withholding
3 USD million · forecast · Qualification Q54 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.retainedCompatibleReference; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
shares
35 million ordinary shares (dated/weighted/analyst allowance as scoped) · forecast · Qualification Q54 below. Exact immutable field-origin/proof mapping retained. Dated or assumed opening/reference stock used in a conditional model, not a newly observed cash/share balance. Original factual measurement/assumption dates and historical source evidence remain unchanged; future model use is distinct from source measurement. Retained original row scope: Original analyst conditional sensitivities.retainedCompatibleReference; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
multiple
156.04490184213677 valuation multiple x · forecast · Qualification Q54 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.retainedCompatibleReference; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
recognized Revenue
220 USD million · forecast · Qualification Q54 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.retainedCompatibleReference; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
gaap EBIT
54.213750000000005 USD million · forecast · Qualification Q54 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.retainedCompatibleReference; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
gaap Operating Margin
0.2464261363636364 fraction / ratio · forecast · Qualification Q54 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.retainedCompatibleReference; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
pretax
57.213750000000005 USD million · forecast · Qualification Q54 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.retainedCompatibleReference; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
income Tax Expense
11.44275 USD million · forecast · Qualification Q54 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.retainedCompatibleReference; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
group NI
45.771 USD million · forecast · Qualification Q54 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.retainedCompatibleReference; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
Net income attributable to common — stated preferred treatment
45.771 USD million · forecast · Qualification Q54 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.retainedCompatibleReference; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
owner Income Diagnostic
45.771 USD million · forecast · Qualification Q54 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.retainedCompatibleReference; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
Noncash CFO addback — after cash-settlement component
5 USD million · forecast · Qualification Q54 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.retainedCompatibleReference; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
other Cfo
0 USD million · forecast · Qualification Q54 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.retainedCompatibleReference; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
working Capital Cash
-45 USD million · forecast · Qualification Q54 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.retainedCompatibleReference; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
Operating cash flow — stated period and case
5.771000000000001 USD million · forecast · Qualification Q54 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.retainedCompatibleReference; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
adjusted Net Income Hypothesis
55 USD million · forecast · Qualification Q54 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.retainedCompatibleReference; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
SBCExpense Charged No Tax Shield
8 USD million · forecast · Qualification Q54 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.retainedCompatibleReference; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
acquired Amort Charged No Tax Shield
1.229 USD million · forecast · Qualification Q54 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.retainedCompatibleReference; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
no Repeated FY26 Tax Benefit
true boolean qualification, not monetary measurement · not-applicable · Qualification Q54 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.retainedCompatibleReference; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
GAAPForecast Status
analyst GAAP-style reconciliation, not issuer guidance. Historical SAR cash expense included within SBC allowance; extra target SAR cash tested separately. retained explanatory text · not-applicable · Qualification Q54 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.retainedCompatibleReference; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
opening Cash
102.58800000000001 USD million · forecast · Qualification Q54 below. Exact immutable field-origin/proof mapping retained. Dated or assumed opening/reference stock used in a conditional model, not a newly observed cash/share balance. Original factual measurement/assumption dates and historical source evidence remain unchanged; future model use is distinct from source measurement. Retained original row scope: Original analyst conditional sensitivities.retainedCompatibleReference; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
Terminal cash BEFORE hypothetical exercises
97.55900000000003 USD million · forecast · Qualification Q54 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.retainedCompatibleReference; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
terminal Cash Post Hypothetical Exercises
97.55900000000003 USD million · forecast · Qualification Q54 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.retainedCompatibleReference; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
terminal Debt
0 USD million · forecast · Qualification Q54 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.retainedCompatibleReference; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
terminal Ownership Claim
0 USD million · forecast · Qualification Q54 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.retainedCompatibleReference; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
quarter Boundary Minimum Pre Exercises
79.78411000000001 USD million · forecast · Qualification Q54 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.retainedCompatibleReference; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
intra Quarter Timing Reserve
20 USD million · forecast · Qualification Q54 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.retainedCompatibleReference; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
Minimum available cash — bounded analyst case
59.78411000000001 USD million · forecast · Qualification Q54 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.retainedCompatibleReference; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
policy Reserve Gap
0 USD million · forecast · Qualification Q54 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.retainedCompatibleReference; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
cash Funding Status
conditional-positive-under-stated-assumptions retained explanatory text · not-applicable · Qualification Q54 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.retainedCompatibleReference; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
ordinary M
32.62045 million ordinary shares (dated/weighted/analyst allowance as scoped) · forecast · Qualification Q54 below. Exact immutable field-origin/proof mapping retained. Dated or assumed opening/reference stock used in a conditional model, not a newly observed cash/share balance. Original factual measurement/assumption dates and historical source evidence remain unchanged; future model use is distinct from source measurement. Retained original row scope: Original analyst conditional sensitivities.retainedCompatibleReference; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
total Shares M
35 million ordinary shares (dated/weighted/analyst allowance as scoped) · forecast · Qualification Q54 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.retainedCompatibleReference; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
forward Incremental Allowance M
2.379550000000002 million ordinary shares (dated/weighted/analyst allowance as scoped) · forecast · Qualification Q54 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.retainedCompatibleReference; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
not Exact Fully Diluted
true boolean qualification, not monetary measurement · not-applicable · Qualification Q54 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.retainedCompatibleReference; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
exercise Cash USDm
0 USD million · forecast · Qualification Q54 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.retainedCompatibleReference; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
convertible Shares M
0 million ordinary shares (dated/weighted/analyst allowance as scoped) · forecast · Qualification Q54 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.retainedCompatibleReference; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
convertible Debt Removed
0 USD million · forecast · Qualification Q54 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.retainedCompatibleReference; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
conversion Cash Settlement
0 USD million · forecast · Qualification Q54 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.retainedCompatibleReference; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
conversion Price
Unknown (null) USD million · unknown · Qualification Q54 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
no Convert Treatment
none retained explanatory text · not-applicable · Qualification Q54 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.retainedCompatibleReference; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
applicability
source-reviewed no outstanding convertible financing in retained balance/debt notes; options/RSUs remain separate employee claims retained explanatory text · not-applicable · Qualification Q54 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.retainedCompatibleReference; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
terminal Shares M
35 million ordinary shares (dated/weighted/analyst allowance as scoped) · forecast · Qualification Q54 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.retainedCompatibleReference; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
terminal Multiple
165.62906897676876 valuation multiple x · forecast · Qualification Q54 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.retainedCompatibleReference; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
equity Pricing Identity
commonOwnerIncome*PE; no additive netcash/debt retained explanatory text · not-applicable · Qualification Q54 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.retainedCompatibleReference; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
terminal Equity USDm
7581.008116135683 USD million · forecast · Qualification Q54 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.retainedCompatibleReference; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
Per-share scenario price — unchanged
216.60023188959093 USD/share · forecast · Qualification Q54 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.retainedCompatibleReference; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
price Ratio
2.1318920781751975 fraction / ratio · forecast · Qualification Q54 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.retainedCompatibleReference; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
GAAPCommon PEContext
165.62906897676876 valuation multiple x · forecast · Qualification Q54 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.retainedCompatibleReference; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
no Warrant Cash In Trough
true boolean qualification, not monetary measurement · not-applicable · Qualification Q54 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.retainedCompatibleReference; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
not Observed Daily Cash
true boolean qualification, not monetary measurement · not-applicable · Qualification Q54 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.retainedCompatibleReference; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
0 — operativeCashComponentRangeUSDm
0 USD million · forecast · Qualification Q54 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.retainedCompatibleReference; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
1 — operativeCashComponentRangeUSDm
8 USD million · forecast · Qualification Q54 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.retainedCompatibleReference; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
cash Endpoint Convention
c=upper existing expense budget, frontloaded within horizon for displayed operative cash;0cash/all-noncash and matched/delayed endpoints in separately bounded proof below retained explanatory text · not-applicable · Qualification Q54 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.retainedCompatibleReference; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
bound Conditions
If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. retained explanatory text · not-applicable · Qualification Q54 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.retainedCompatibleReference; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
minimum Bound Includes Original Timing Reserve
true boolean qualification, not monetary measurement · not-applicable · Qualification Q54 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.retainedCompatibleReference; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
operativeQuarter 1 — signed cash/revenue/compensation reconciliation
[{"field":"0.quarter","value":1,"unit":"quarter index"},{"field":"0.periodStart","value":"2026-10-01","unit":"retained explanatory text"},{"field":"0.periodEnd","value":"2026-12-31","unit":"retained explanatory text"},{"field":"0.inclusiveDays","value":92,"unit":"USD million"},{"field":"0.recognizedRevenueHypothesis","value":40,"unit":"USD million"},{"field":"0.openingCash","value":102.58800000000001,"unit":"USD million"},{"field":"0.flows.operatingCashBeforeWorkingCapital","value":2.57878,"unit":"USD million"},{"field":"0.flows.workingCapitalCash","value":-18.0,"unit":"USD million"},{"field":"0.flows.cashPPE","value":-4.5,"unit":"USD million"},{"field":"0.flows.softwareCash","value":-0.0,"unit":"USD million"},{"field":"0.flows.acquisitionCash","value":-0.0,"unit":"USD million"},{"field":"0.flows.ordinaryBuybackCash","value":-0.0,"unit":"USD million"},{"field":"0.flows.cashDistributions","value":-0.0,"unit":"USD million"},{"field":"0.flows.employeeTaxWithholdingCash","value":-0.75,"unit":"USD million"},{"field":"0.flows.employeePlanProceedsFinancing","value":0.55,"unit":"USD million"},{"field":"0.flows.debtRaised","value":0.0,"unit":"USD million"},{"field":"0.flows.debtPrincipalRepaid","value":-0.0,"unit":"USD million"},{"field":"0.flows.extraStressUse","value":0,"unit":"USD million"},{"field":"0.endingCashBeforeTargetExercises","value":82.46678000000001,"unit":"USD million"},{"field":"0.endingDebt","value":0.0,"unit":"USD million"},{"field":"0.noncashAddbackRemovedUSDm","value":1.44,"unit":"USD million"},{"field":"0.liabilityTimingCashAdjustmentUSDm","value":-6.56,"unit":"USD million"},{"field":"0.cashCompensationPaymentUSDm","value":8.0,"unit":"USD million"},{"field":"0.cashCostCountedOnceNetChangeUSDm","value":-8.0,"unit":"USD million"}] USD million for signed cash/revenue values; period dates and quarter identifiers are header context, not monetary assumptions · forecast · Qualification Q55 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.retainedCompatibleReference; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2026-10-01 / 2026-12-31; EACH signed cash item shown, compensation net payment counted once. ·
operativeQuarter 2 — signed cash/revenue/compensation reconciliation
[{"field":"1.quarter","value":2,"unit":"quarter index"},{"field":"1.periodStart","value":"2027-01-01","unit":"retained explanatory text"},{"field":"1.periodEnd","value":"2027-03-31","unit":"retained explanatory text"},{"field":"1.inclusiveDays","value":90,"unit":"USD million"},{"field":"1.recognizedRevenueHypothesis","value":50,"unit":"USD million"},{"field":"1.openingCash","value":82.46678000000001,"unit":"USD million"},{"field":"1.flows.operatingCashBeforeWorkingCapital","value":13.517330000000001,"unit":"USD million"},{"field":"1.flows.workingCapitalCash","value":-13.5,"unit":"USD million"},{"field":"1.flows.cashPPE","value":-2.5,"unit":"USD million"},{"field":"1.flows.softwareCash","value":-0.0,"unit":"USD million"},{"field":"1.flows.acquisitionCash","value":-0.0,"unit":"USD million"},{"field":"1.flows.ordinaryBuybackCash","value":-0.0,"unit":"USD million"},{"field":"1.flows.cashDistributions","value":-0.0,"unit":"USD million"},{"field":"1.flows.employeeTaxWithholdingCash","value":-0.75,"unit":"USD million"},{"field":"1.flows.employeePlanProceedsFinancing","value":0.55,"unit":"USD million"},{"field":"1.flows.debtRaised","value":0.0,"unit":"USD million"},{"field":"1.flows.debtPrincipalRepaid","value":-0.0,"unit":"USD million"},{"field":"1.flows.extraStressUse","value":0,"unit":"USD million"},{"field":"1.endingCashBeforeTargetExercises","value":79.78411000000001,"unit":"USD million"},{"field":"1.endingDebt","value":0.0,"unit":"USD million"},{"field":"1.noncashAddbackRemovedUSDm","value":1.84,"unit":"USD million"},{"field":"1.liabilityTimingCashAdjustmentUSDm","value":1.84,"unit":"USD million"},{"field":"1.cashCompensationPaymentUSDm","value":0.0,"unit":"USD million"},{"field":"1.cashCostCountedOnceNetChangeUSDm","value":0.0,"unit":"USD million"}] USD million for signed cash/revenue values; period dates and quarter identifiers are header context, not monetary assumptions · forecast · Qualification Q56 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.retainedCompatibleReference; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2027-01-01 / 2027-03-31; EACH signed cash item shown, compensation net payment counted once. ·
operativeQuarter 3 — signed cash/revenue/compensation reconciliation
[{"field":"2.quarter","value":3,"unit":"quarter index"},{"field":"2.periodStart","value":"2027-04-01","unit":"retained explanatory text"},{"field":"2.periodEnd","value":"2027-06-30","unit":"retained explanatory text"},{"field":"2.inclusiveDays","value":91,"unit":"USD million"},{"field":"2.recognizedRevenueHypothesis","value":60,"unit":"USD million"},{"field":"2.openingCash","value":79.78411000000001,"unit":"USD million"},{"field":"2.flows.operatingCashBeforeWorkingCapital","value":15.868170000000001,"unit":"USD million"},{"field":"2.flows.workingCapitalCash","value":-9.0,"unit":"USD million"},{"field":"2.flows.cashPPE","value":-2.0,"unit":"USD million"},{"field":"2.flows.softwareCash","value":-0.0,"unit":"USD million"},{"field":"2.flows.acquisitionCash","value":-0.0,"unit":"USD million"},{"field":"2.flows.ordinaryBuybackCash","value":-0.0,"unit":"USD million"},{"field":"2.flows.cashDistributions","value":-0.0,"unit":"USD million"},{"field":"2.flows.employeeTaxWithholdingCash","value":-0.75,"unit":"USD million"},{"field":"2.flows.employeePlanProceedsFinancing","value":0.55,"unit":"USD million"},{"field":"2.flows.debtRaised","value":0.0,"unit":"USD million"},{"field":"2.flows.debtPrincipalRepaid","value":-0.0,"unit":"USD million"},{"field":"2.flows.extraStressUse","value":0,"unit":"USD million"},{"field":"2.endingCashBeforeTargetExercises","value":84.45228000000002,"unit":"USD million"},{"field":"2.endingDebt","value":0.0,"unit":"USD million"},{"field":"2.noncashAddbackRemovedUSDm","value":2.16,"unit":"USD million"},{"field":"2.liabilityTimingCashAdjustmentUSDm","value":2.16,"unit":"USD million"},{"field":"2.cashCompensationPaymentUSDm","value":0.0,"unit":"USD million"},{"field":"2.cashCostCountedOnceNetChangeUSDm","value":0.0,"unit":"USD million"}] USD million for signed cash/revenue values; period dates and quarter identifiers are header context, not monetary assumptions · forecast · Qualification Q57 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.retainedCompatibleReference; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2027-04-01 / 2027-06-30; EACH signed cash item shown, compensation net payment counted once. ·
operativeQuarter 4 — signed cash/revenue/compensation reconciliation
[{"field":"3.quarter","value":4,"unit":"quarter index"},{"field":"3.periodStart","value":"2027-07-01","unit":"retained explanatory text"},{"field":"3.periodEnd","value":"2027-09-30","unit":"retained explanatory text"},{"field":"3.inclusiveDays","value":92,"unit":"USD million"},{"field":"3.recognizedRevenueHypothesis","value":70,"unit":"USD million"},{"field":"3.openingCash","value":84.45228000000002,"unit":"USD million"},{"field":"3.flows.operatingCashBeforeWorkingCapital","value":18.806720000000002,"unit":"USD million"},{"field":"3.flows.workingCapitalCash","value":-4.5,"unit":"USD million"},{"field":"3.flows.cashPPE","value":-1.0,"unit":"USD million"},{"field":"3.flows.softwareCash","value":-0.0,"unit":"USD million"},{"field":"3.flows.acquisitionCash","value":0,"unit":"USD million"},{"field":"3.flows.ordinaryBuybackCash","value":-0.0,"unit":"USD million"},{"field":"3.flows.cashDistributions","value":-0.0,"unit":"USD million"},{"field":"3.flows.employeeTaxWithholdingCash","value":-0.75,"unit":"USD million"},{"field":"3.flows.employeePlanProceedsFinancing","value":0.55,"unit":"USD million"},{"field":"3.flows.debtRaised","value":0.0,"unit":"USD million"},{"field":"3.flows.debtPrincipalRepaid","value":-0.0,"unit":"USD million"},{"field":"3.flows.extraStressUse","value":0,"unit":"USD million"},{"field":"3.endingCashBeforeTargetExercises","value":97.55900000000003,"unit":"USD million"},{"field":"3.endingDebt","value":0.0,"unit":"USD million"},{"field":"3.noncashAddbackRemovedUSDm","value":2.56,"unit":"USD million"},{"field":"3.liabilityTimingCashAdjustmentUSDm","value":2.56,"unit":"USD million"},{"field":"3.cashCompensationPaymentUSDm","value":0.0,"unit":"USD million"},{"field":"3.cashCostCountedOnceNetChangeUSDm","value":0.0,"unit":"USD million"}] USD million for signed cash/revenue values; period dates and quarter identifiers are header context, not monetary assumptions · forecast · Qualification Q58 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.retainedCompatibleReference; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2027-07-01 / 2027-09-30; EACH signed cash item shown, compensation net payment counted once. ·
matchedExpensePaymentAlternative 1 — signed cash/revenue/compensation reconciliation
[{"field":"0.quarter","value":1,"unit":"quarter index"},{"field":"0.cashPaymentUSDm","value":1.44,"unit":"USD million"},{"field":"0.noncashAddbackRemovedUSDm","value":1.44,"unit":"USD million"},{"field":"0.liabilityTimingCashAdjustmentUSDm","value":0.0,"unit":"USD million"},{"field":"0.operativeEndingCashUSDm","value":89.02678000000002,"unit":"USD million"}] USD million for signed cash/revenue values; period dates and quarter identifiers are header context, not monetary assumptions · forecast · Qualification Q59 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.retainedCompatibleReference; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2026-10-01 / 2027-09-30; EACH signed cash item shown, compensation net payment counted once. ·
matchedExpensePaymentAlternative 2 — signed cash/revenue/compensation reconciliation
[{"field":"1.quarter","value":2,"unit":"quarter index"},{"field":"1.cashPaymentUSDm","value":1.84,"unit":"USD million"},{"field":"1.noncashAddbackRemovedUSDm","value":1.84,"unit":"USD million"},{"field":"1.liabilityTimingCashAdjustmentUSDm","value":0.0,"unit":"USD million"},{"field":"1.operativeEndingCashUSDm","value":84.50411000000001,"unit":"USD million"}] USD million for signed cash/revenue values; period dates and quarter identifiers are header context, not monetary assumptions · forecast · Qualification Q59 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.retainedCompatibleReference; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2026-10-01 / 2027-09-30; EACH signed cash item shown, compensation net payment counted once. ·
matchedExpensePaymentAlternative 3 — signed cash/revenue/compensation reconciliation
[{"field":"2.quarter","value":3,"unit":"quarter index"},{"field":"2.cashPaymentUSDm","value":2.16,"unit":"USD million"},{"field":"2.noncashAddbackRemovedUSDm","value":2.16,"unit":"USD million"},{"field":"2.liabilityTimingCashAdjustmentUSDm","value":0.0,"unit":"USD million"},{"field":"2.operativeEndingCashUSDm","value":87.01228000000002,"unit":"USD million"}] USD million for signed cash/revenue values; period dates and quarter identifiers are header context, not monetary assumptions · forecast · Qualification Q59 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.retainedCompatibleReference; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2026-10-01 / 2027-09-30; EACH signed cash item shown, compensation net payment counted once. ·
matchedExpensePaymentAlternative 4 — signed cash/revenue/compensation reconciliation
[{"field":"3.quarter","value":4,"unit":"quarter index"},{"field":"3.cashPaymentUSDm","value":2.56,"unit":"USD million"},{"field":"3.noncashAddbackRemovedUSDm","value":2.56,"unit":"USD million"},{"field":"3.liabilityTimingCashAdjustmentUSDm","value":0.0,"unit":"USD million"},{"field":"3.operativeEndingCashUSDm","value":97.55900000000003,"unit":"USD million"}] USD million for signed cash/revenue values; period dates and quarter identifiers are header context, not monetary assumptions · forecast · Qualification Q59 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.retainedCompatibleReference; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2026-10-01 / 2027-09-30; EACH signed cash item shown, compensation net payment counted once. ·
Matched expense/payment — minimum available cash after existing timing reserve
64.50411000000001 USD million · forecast · Qualification Q33 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2027-09-30', 'basis': 'Original economic model inclusive365 days; archived native cashPeriodEnd may be anniversary endpoint and is not silently relabeled'} ·
Matched expense/payment — terminal cash before hypothetical exercises
97.55900000000003 USD million · forecast · Qualification Q33 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2027-09-30', 'basis': 'Original economic model inclusive365 days; archived native cashPeriodEnd may be anniversary endpoint and is not silently relabeled'} ·
Matched expense/payment Q1 — operativeEndingCashUSDm
89.02678000000002 USD million · forecast · Qualification Q34 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q1 — noncashAddbackRemovedUSDm
1.44 USD million · forecast · Qualification Q34 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q1 — liabilityTimingCashAdjustmentUSDm
0 USD million · forecast · Qualification Q34 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q1 — cashPaymentUSDm
1.44 USD million · forecast · Qualification Q34 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q1 — netCashChangeUSDm
-1.44 USD million · forecast · Qualification Q34 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q2 — operativeEndingCashUSDm
84.50411000000001 USD million · forecast · Qualification Q35 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q2 — noncashAddbackRemovedUSDm
1.84 USD million · forecast · Qualification Q35 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q2 — liabilityTimingCashAdjustmentUSDm
0 USD million · forecast · Qualification Q35 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q2 — cashPaymentUSDm
1.84 USD million · forecast · Qualification Q35 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q2 — netCashChangeUSDm
-1.84 USD million · forecast · Qualification Q35 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q3 — operativeEndingCashUSDm
87.01228000000002 USD million · forecast · Qualification Q36 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q3 — noncashAddbackRemovedUSDm
2.16 USD million · forecast · Qualification Q36 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q3 — liabilityTimingCashAdjustmentUSDm
0 USD million · forecast · Qualification Q36 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q3 — cashPaymentUSDm
2.16 USD million · forecast · Qualification Q36 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q3 — netCashChangeUSDm
-2.16 USD million · forecast · Qualification Q36 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q4 — operativeEndingCashUSDm
97.55900000000003 USD million · forecast · Qualification Q37 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q4 — noncashAddbackRemovedUSDm
2.56 USD million · forecast · Qualification Q37 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q4 — liabilityTimingCashAdjustmentUSDm
0 USD million · forecast · Qualification Q37 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q4 — cashPaymentUSDm
2.56 USD million · forecast · Qualification Q37 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q4 — netCashChangeUSDm
-2.56 USD million · forecast · Qualification Q37 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment — minimum available cash after existing timing reserve
59.78411000000001 USD million · forecast · Qualification Q33 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2027-09-30', 'basis': 'Original economic model inclusive365 days; archived native cashPeriodEnd may be anniversary endpoint and is not silently relabeled'} ·
Front-loaded cash/payment — terminal cash before hypothetical exercises
97.55900000000003 USD million · forecast · Qualification Q33 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2027-09-30', 'basis': 'Original economic model inclusive365 days; archived native cashPeriodEnd may be anniversary endpoint and is not silently relabeled'} ·
Front-loaded cash/payment Q1 — operativeEndingCashUSDm
82.46678000000001 USD million · forecast · Qualification Q38 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q1 — noncashAddbackRemovedUSDm
1.44 USD million · forecast · Qualification Q38 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q1 — liabilityTimingCashAdjustmentUSDm
-6.56 USD million · forecast · Qualification Q38 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q1 — cashPaymentUSDm
8 USD million · forecast · Qualification Q38 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q1 — netCashChangeUSDm
-8 USD million · forecast · Qualification Q38 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q2 — operativeEndingCashUSDm
79.78411000000001 USD million · forecast · Qualification Q39 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q2 — noncashAddbackRemovedUSDm
1.84 USD million · forecast · Qualification Q39 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q2 — liabilityTimingCashAdjustmentUSDm
1.84 USD million · forecast · Qualification Q39 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q2 — cashPaymentUSDm
0 USD million · forecast · Qualification Q39 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q2 — netCashChangeUSDm
0 USD million · forecast · Qualification Q39 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q3 — operativeEndingCashUSDm
84.45228000000002 USD million · forecast · Qualification Q40 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q3 — noncashAddbackRemovedUSDm
2.16 USD million · forecast · Qualification Q40 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q3 — liabilityTimingCashAdjustmentUSDm
2.16 USD million · forecast · Qualification Q40 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q3 — cashPaymentUSDm
0 USD million · forecast · Qualification Q40 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q3 — netCashChangeUSDm
0 USD million · forecast · Qualification Q40 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q4 — operativeEndingCashUSDm
97.55900000000003 USD million · forecast · Qualification Q41 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q4 — noncashAddbackRemovedUSDm
2.56 USD million · forecast · Qualification Q41 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q4 — liabilityTimingCashAdjustmentUSDm
2.56 USD million · forecast · Qualification Q41 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q4 — cashPaymentUSDm
0 USD million · forecast · Qualification Q41 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q4 — netCashChangeUSDm
0 USD million · forecast · Qualification Q41 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
revenueMinus20pct — operative bounded cash · conditional-not-native-approval
Scenario period
2026-10-01 → 2027-09-30 · Original economic model inclusive365 days; archived native cashPeriodEnd may be anniversary endpoint and is not silently relabeled
0 — revenues
32 USD million · forecast · Qualification Q60 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.revenueMinus20pct; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
1 — revenues
40 USD million · forecast · Qualification Q60 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.revenueMinus20pct; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
2 — revenues
48 USD million · forecast · Qualification Q60 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.revenueMinus20pct; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
3 — revenues
56 USD million · forecast · Qualification Q60 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.revenueMinus20pct; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
adjusted Net Margin
0.25 fraction / ratio · forecast · Qualification Q60 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.revenueMinus20pct; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
sbc
8 USD million · forecast · Qualification Q60 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.revenueMinus20pct; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
amort
1.229 USD million · forecast · Qualification Q60 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.revenueMinus20pct; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
da
5 USD million · forecast · Qualification Q60 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.revenueMinus20pct; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
interest Net
3 USD million · forecast · Qualification Q60 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.revenueMinus20pct; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
tax Rate
0.2 fraction / ratio · forecast · Qualification Q60 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.revenueMinus20pct; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
wc
-45 USD million · forecast · Qualification Q60 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.revenueMinus20pct; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
capex
10 USD million · forecast · Qualification Q60 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.revenueMinus20pct; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
employee Proceeds
2.2 USD million · forecast · Qualification Q60 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.revenueMinus20pct; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
employee Withholding
3 USD million · forecast · Qualification Q60 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.revenueMinus20pct; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
shares
35 million ordinary shares (dated/weighted/analyst allowance as scoped) · forecast · Qualification Q60 below. Exact immutable field-origin/proof mapping retained. Dated or assumed opening/reference stock used in a conditional model, not a newly observed cash/share balance. Original factual measurement/assumption dates and historical source evidence remain unchanged; future model use is distinct from source measurement. Retained original row scope: Original analyst conditional sensitivities.revenueMinus20pct; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
multiple
156.04490184213677 valuation multiple x · forecast · Qualification Q60 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.revenueMinus20pct; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
recognized Revenue
176 USD million · forecast · Qualification Q60 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.revenueMinus20pct; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
gaap EBIT
40.463750000000005 USD million · forecast · Qualification Q60 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.revenueMinus20pct; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
gaap Operating Margin
0.2299076704545455 fraction / ratio · forecast · Qualification Q60 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.revenueMinus20pct; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
pretax
43.463750000000005 USD million · forecast · Qualification Q60 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.revenueMinus20pct; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
income Tax Expense
8.69275 USD million · forecast · Qualification Q60 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.revenueMinus20pct; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
group NI
34.771 USD million · forecast · Qualification Q60 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.revenueMinus20pct; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
Net income attributable to common — stated preferred treatment
34.771 USD million · forecast · Qualification Q60 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.revenueMinus20pct; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
owner Income Diagnostic
34.771 USD million · forecast · Qualification Q60 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.revenueMinus20pct; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
Noncash CFO addback — after cash-settlement component
5 USD million · forecast · Qualification Q60 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.revenueMinus20pct; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
other Cfo
0 USD million · forecast · Qualification Q60 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.revenueMinus20pct; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
working Capital Cash
-45 USD million · forecast · Qualification Q60 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.revenueMinus20pct; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
Operating cash flow — stated period and case
-5.228999999999999 USD million · forecast · Qualification Q60 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.revenueMinus20pct; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
adjusted Net Income Hypothesis
44 USD million · forecast · Qualification Q60 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.revenueMinus20pct; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
SBCExpense Charged No Tax Shield
8 USD million · forecast · Qualification Q60 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.revenueMinus20pct; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
acquired Amort Charged No Tax Shield
1.229 USD million · forecast · Qualification Q60 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.revenueMinus20pct; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
no Repeated FY26 Tax Benefit
true boolean qualification, not monetary measurement · not-applicable · Qualification Q60 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.revenueMinus20pct; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
GAAPForecast Status
analyst GAAP-style reconciliation, not issuer guidance. Historical SAR cash expense included within SBC allowance; extra target SAR cash tested separately. retained explanatory text · not-applicable · Qualification Q60 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.revenueMinus20pct; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
opening Cash
102.58800000000001 USD million · forecast · Qualification Q60 below. Exact immutable field-origin/proof mapping retained. Dated or assumed opening/reference stock used in a conditional model, not a newly observed cash/share balance. Original factual measurement/assumption dates and historical source evidence remain unchanged; future model use is distinct from source measurement. Retained original row scope: Original analyst conditional sensitivities.revenueMinus20pct; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
Terminal cash BEFORE hypothetical exercises
86.55900000000001 USD million · forecast · Qualification Q60 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.revenueMinus20pct; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
terminal Cash Post Hypothetical Exercises
86.55900000000001 USD million · forecast · Qualification Q60 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.revenueMinus20pct; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
terminal Debt
0 USD million · forecast · Qualification Q60 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.revenueMinus20pct; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
terminal Ownership Claim
0 USD million · forecast · Qualification Q60 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.revenueMinus20pct; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
quarter Boundary Minimum Pre Exercises
75.27411000000001 USD million · forecast · Qualification Q60 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.revenueMinus20pct; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
intra Quarter Timing Reserve
20 USD million · forecast · Qualification Q60 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.revenueMinus20pct; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
Minimum available cash — bounded analyst case
55.27411000000001 USD million · forecast · Qualification Q60 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.revenueMinus20pct; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
policy Reserve Gap
0 USD million · forecast · Qualification Q60 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.revenueMinus20pct; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
cash Funding Status
conditional-positive-under-stated-assumptions retained explanatory text · not-applicable · Qualification Q60 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.revenueMinus20pct; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
ordinary M
32.62045 million ordinary shares (dated/weighted/analyst allowance as scoped) · forecast · Qualification Q60 below. Exact immutable field-origin/proof mapping retained. Dated or assumed opening/reference stock used in a conditional model, not a newly observed cash/share balance. Original factual measurement/assumption dates and historical source evidence remain unchanged; future model use is distinct from source measurement. Retained original row scope: Original analyst conditional sensitivities.revenueMinus20pct; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
total Shares M
35 million ordinary shares (dated/weighted/analyst allowance as scoped) · forecast · Qualification Q60 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.revenueMinus20pct; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
forward Incremental Allowance M
2.379550000000002 million ordinary shares (dated/weighted/analyst allowance as scoped) · forecast · Qualification Q60 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.revenueMinus20pct; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
not Exact Fully Diluted
true boolean qualification, not monetary measurement · not-applicable · Qualification Q60 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.revenueMinus20pct; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
exercise Cash USDm
0 USD million · forecast · Qualification Q60 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.revenueMinus20pct; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
convertible Shares M
0 million ordinary shares (dated/weighted/analyst allowance as scoped) · forecast · Qualification Q60 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.revenueMinus20pct; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
convertible Debt Removed
0 USD million · forecast · Qualification Q60 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.revenueMinus20pct; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
conversion Cash Settlement
0 USD million · forecast · Qualification Q60 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.revenueMinus20pct; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
conversion Price
Unknown (null) USD million · unknown · Qualification Q60 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
no Convert Treatment
none retained explanatory text · not-applicable · Qualification Q60 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.revenueMinus20pct; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
applicability
source-reviewed no outstanding convertible financing in retained balance/debt notes; options/RSUs remain separate employee claims retained explanatory text · not-applicable · Qualification Q60 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.revenueMinus20pct; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
terminal Shares M
35 million ordinary shares (dated/weighted/analyst allowance as scoped) · forecast · Qualification Q60 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.revenueMinus20pct; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
terminal Multiple
156.04490184213677 valuation multiple x · forecast · Qualification Q60 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.revenueMinus20pct; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
equity Pricing Identity
commonOwnerIncome*PE; no additive netcash/debt retained explanatory text · not-applicable · Qualification Q60 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.revenueMinus20pct; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
terminal Equity USDm
5425.837281952938 USD million · forecast · Qualification Q60 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.revenueMinus20pct; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
Per-share scenario price — unchanged
155.0239223415125 USD/share · forecast · Qualification Q60 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.revenueMinus20pct; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
price Ratio
1.5258260302139592 fraction / ratio · forecast · Qualification Q60 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.revenueMinus20pct; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
GAAPCommon PEContext
156.04490184213677 valuation multiple x · forecast · Qualification Q60 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.revenueMinus20pct; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
no Warrant Cash In Trough
true boolean qualification, not monetary measurement · not-applicable · Qualification Q60 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.revenueMinus20pct; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
not Observed Daily Cash
true boolean qualification, not monetary measurement · not-applicable · Qualification Q60 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.revenueMinus20pct; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
0 — operativeCashComponentRangeUSDm
0 USD million · forecast · Qualification Q60 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.revenueMinus20pct; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
1 — operativeCashComponentRangeUSDm
8 USD million · forecast · Qualification Q60 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.revenueMinus20pct; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
cash Endpoint Convention
c=upper existing expense budget, frontloaded within horizon for displayed operative cash;0cash/all-noncash and matched/delayed endpoints in separately bounded proof below retained explanatory text · not-applicable · Qualification Q60 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.revenueMinus20pct; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
bound Conditions
If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. retained explanatory text · not-applicable · Qualification Q60 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.revenueMinus20pct; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
minimum Bound Includes Original Timing Reserve
true boolean qualification, not monetary measurement · not-applicable · Qualification Q60 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.revenueMinus20pct; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
operativeQuarter 1 — signed cash/revenue/compensation reconciliation
[{"field":"0.quarter","value":1,"unit":"quarter index"},{"field":"0.periodStart","value":"2026-10-01","unit":"retained explanatory text"},{"field":"0.periodEnd","value":"2026-12-31","unit":"retained explanatory text"},{"field":"0.inclusiveDays","value":92,"unit":"USD million"},{"field":"0.recognizedRevenueHypothesis","value":32.0,"unit":"USD million"},{"field":"0.openingCash","value":102.58800000000001,"unit":"USD million"},{"field":"0.flows.operatingCashBeforeWorkingCapital","value":0.5987799999999996,"unit":"USD million"},{"field":"0.flows.workingCapitalCash","value":-18.0,"unit":"USD million"},{"field":"0.flows.cashPPE","value":-4.5,"unit":"USD million"},{"field":"0.flows.softwareCash","value":-0.0,"unit":"USD million"},{"field":"0.flows.acquisitionCash","value":-0.0,"unit":"USD million"},{"field":"0.flows.ordinaryBuybackCash","value":-0.0,"unit":"USD million"},{"field":"0.flows.cashDistributions","value":-0.0,"unit":"USD million"},{"field":"0.flows.employeeTaxWithholdingCash","value":-0.75,"unit":"USD million"},{"field":"0.flows.employeePlanProceedsFinancing","value":0.55,"unit":"USD million"},{"field":"0.flows.debtRaised","value":0.0,"unit":"USD million"},{"field":"0.flows.debtPrincipalRepaid","value":-0.0,"unit":"USD million"},{"field":"0.flows.extraStressUse","value":0,"unit":"USD million"},{"field":"0.endingCashBeforeTargetExercises","value":80.48678000000001,"unit":"USD million"},{"field":"0.endingDebt","value":0.0,"unit":"USD million"},{"field":"0.noncashAddbackRemovedUSDm","value":1.44,"unit":"USD million"},{"field":"0.liabilityTimingCashAdjustmentUSDm","value":-6.56,"unit":"USD million"},{"field":"0.cashCompensationPaymentUSDm","value":8.0,"unit":"USD million"},{"field":"0.cashCostCountedOnceNetChangeUSDm","value":-8.0,"unit":"USD million"}] USD million for signed cash/revenue values; period dates and quarter identifiers are header context, not monetary assumptions · forecast · Qualification Q61 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.revenueMinus20pct; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2026-10-01 / 2026-12-31; EACH signed cash item shown, compensation net payment counted once. ·
operativeQuarter 2 — signed cash/revenue/compensation reconciliation
[{"field":"1.quarter","value":2,"unit":"quarter index"},{"field":"1.periodStart","value":"2027-01-01","unit":"retained explanatory text"},{"field":"1.periodEnd","value":"2027-03-31","unit":"retained explanatory text"},{"field":"1.inclusiveDays","value":90,"unit":"USD million"},{"field":"1.recognizedRevenueHypothesis","value":40.0,"unit":"USD million"},{"field":"1.openingCash","value":80.48678000000001,"unit":"USD million"},{"field":"1.flows.operatingCashBeforeWorkingCapital","value":10.98733,"unit":"USD million"},{"field":"1.flows.workingCapitalCash","value":-13.5,"unit":"USD million"},{"field":"1.flows.cashPPE","value":-2.5,"unit":"USD million"},{"field":"1.flows.softwareCash","value":-0.0,"unit":"USD million"},{"field":"1.flows.acquisitionCash","value":-0.0,"unit":"USD million"},{"field":"1.flows.ordinaryBuybackCash","value":-0.0,"unit":"USD million"},{"field":"1.flows.cashDistributions","value":-0.0,"unit":"USD million"},{"field":"1.flows.employeeTaxWithholdingCash","value":-0.75,"unit":"USD million"},{"field":"1.flows.employeePlanProceedsFinancing","value":0.55,"unit":"USD million"},{"field":"1.flows.debtRaised","value":0.0,"unit":"USD million"},{"field":"1.flows.debtPrincipalRepaid","value":-0.0,"unit":"USD million"},{"field":"1.flows.extraStressUse","value":0,"unit":"USD million"},{"field":"1.endingCashBeforeTargetExercises","value":75.27411000000001,"unit":"USD million"},{"field":"1.endingDebt","value":0.0,"unit":"USD million"},{"field":"1.noncashAddbackRemovedUSDm","value":1.84,"unit":"USD million"},{"field":"1.liabilityTimingCashAdjustmentUSDm","value":1.84,"unit":"USD million"},{"field":"1.cashCompensationPaymentUSDm","value":0.0,"unit":"USD million"},{"field":"1.cashCostCountedOnceNetChangeUSDm","value":0.0,"unit":"USD million"}] USD million for signed cash/revenue values; period dates and quarter identifiers are header context, not monetary assumptions · forecast · Qualification Q62 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.revenueMinus20pct; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2027-01-01 / 2027-03-31; EACH signed cash item shown, compensation net payment counted once. ·
operativeQuarter 3 — signed cash/revenue/compensation reconciliation
[{"field":"2.quarter","value":3,"unit":"quarter index"},{"field":"2.periodStart","value":"2027-04-01","unit":"retained explanatory text"},{"field":"2.periodEnd","value":"2027-06-30","unit":"retained explanatory text"},{"field":"2.inclusiveDays","value":91,"unit":"USD million"},{"field":"2.recognizedRevenueHypothesis","value":48.0,"unit":"USD million"},{"field":"2.openingCash","value":75.27411000000001,"unit":"USD million"},{"field":"2.flows.operatingCashBeforeWorkingCapital","value":12.89817,"unit":"USD million"},{"field":"2.flows.workingCapitalCash","value":-9.0,"unit":"USD million"},{"field":"2.flows.cashPPE","value":-2.0,"unit":"USD million"},{"field":"2.flows.softwareCash","value":-0.0,"unit":"USD million"},{"field":"2.flows.acquisitionCash","value":-0.0,"unit":"USD million"},{"field":"2.flows.ordinaryBuybackCash","value":-0.0,"unit":"USD million"},{"field":"2.flows.cashDistributions","value":-0.0,"unit":"USD million"},{"field":"2.flows.employeeTaxWithholdingCash","value":-0.75,"unit":"USD million"},{"field":"2.flows.employeePlanProceedsFinancing","value":0.55,"unit":"USD million"},{"field":"2.flows.debtRaised","value":0.0,"unit":"USD million"},{"field":"2.flows.debtPrincipalRepaid","value":-0.0,"unit":"USD million"},{"field":"2.flows.extraStressUse","value":0,"unit":"USD million"},{"field":"2.endingCashBeforeTargetExercises","value":76.97228000000001,"unit":"USD million"},{"field":"2.endingDebt","value":0.0,"unit":"USD million"},{"field":"2.noncashAddbackRemovedUSDm","value":2.16,"unit":"USD million"},{"field":"2.liabilityTimingCashAdjustmentUSDm","value":2.16,"unit":"USD million"},{"field":"2.cashCompensationPaymentUSDm","value":0.0,"unit":"USD million"},{"field":"2.cashCostCountedOnceNetChangeUSDm","value":0.0,"unit":"USD million"}] USD million for signed cash/revenue values; period dates and quarter identifiers are header context, not monetary assumptions · forecast · Qualification Q63 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.revenueMinus20pct; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2027-04-01 / 2027-06-30; EACH signed cash item shown, compensation net payment counted once. ·
operativeQuarter 4 — signed cash/revenue/compensation reconciliation
[{"field":"3.quarter","value":4,"unit":"quarter index"},{"field":"3.periodStart","value":"2027-07-01","unit":"retained explanatory text"},{"field":"3.periodEnd","value":"2027-09-30","unit":"retained explanatory text"},{"field":"3.inclusiveDays","value":92,"unit":"USD million"},{"field":"3.recognizedRevenueHypothesis","value":56.0,"unit":"USD million"},{"field":"3.openingCash","value":76.97228000000001,"unit":"USD million"},{"field":"3.flows.operatingCashBeforeWorkingCapital","value":15.28672,"unit":"USD million"},{"field":"3.flows.workingCapitalCash","value":-4.5,"unit":"USD million"},{"field":"3.flows.cashPPE","value":-1.0,"unit":"USD million"},{"field":"3.flows.softwareCash","value":-0.0,"unit":"USD million"},{"field":"3.flows.acquisitionCash","value":0,"unit":"USD million"},{"field":"3.flows.ordinaryBuybackCash","value":-0.0,"unit":"USD million"},{"field":"3.flows.cashDistributions","value":-0.0,"unit":"USD million"},{"field":"3.flows.employeeTaxWithholdingCash","value":-0.75,"unit":"USD million"},{"field":"3.flows.employeePlanProceedsFinancing","value":0.55,"unit":"USD million"},{"field":"3.flows.debtRaised","value":0.0,"unit":"USD million"},{"field":"3.flows.debtPrincipalRepaid","value":-0.0,"unit":"USD million"},{"field":"3.flows.extraStressUse","value":0,"unit":"USD million"},{"field":"3.endingCashBeforeTargetExercises","value":86.55900000000001,"unit":"USD million"},{"field":"3.endingDebt","value":0.0,"unit":"USD million"},{"field":"3.noncashAddbackRemovedUSDm","value":2.56,"unit":"USD million"},{"field":"3.liabilityTimingCashAdjustmentUSDm","value":2.56,"unit":"USD million"},{"field":"3.cashCompensationPaymentUSDm","value":0.0,"unit":"USD million"},{"field":"3.cashCostCountedOnceNetChangeUSDm","value":0.0,"unit":"USD million"}] USD million for signed cash/revenue values; period dates and quarter identifiers are header context, not monetary assumptions · forecast · Qualification Q64 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.revenueMinus20pct; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2027-07-01 / 2027-09-30; EACH signed cash item shown, compensation net payment counted once. ·
matchedExpensePaymentAlternative 1 — signed cash/revenue/compensation reconciliation
[{"field":"0.quarter","value":1,"unit":"quarter index"},{"field":"0.cashPaymentUSDm","value":1.44,"unit":"USD million"},{"field":"0.noncashAddbackRemovedUSDm","value":1.44,"unit":"USD million"},{"field":"0.liabilityTimingCashAdjustmentUSDm","value":0.0,"unit":"USD million"},{"field":"0.operativeEndingCashUSDm","value":87.04678000000001,"unit":"USD million"}] USD million for signed cash/revenue values; period dates and quarter identifiers are header context, not monetary assumptions · forecast · Qualification Q65 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.revenueMinus20pct; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2026-10-01 / 2027-09-30; EACH signed cash item shown, compensation net payment counted once. ·
matchedExpensePaymentAlternative 2 — signed cash/revenue/compensation reconciliation
[{"field":"1.quarter","value":2,"unit":"quarter index"},{"field":"1.cashPaymentUSDm","value":1.84,"unit":"USD million"},{"field":"1.noncashAddbackRemovedUSDm","value":1.84,"unit":"USD million"},{"field":"1.liabilityTimingCashAdjustmentUSDm","value":0.0,"unit":"USD million"},{"field":"1.operativeEndingCashUSDm","value":79.99411,"unit":"USD million"}] USD million for signed cash/revenue values; period dates and quarter identifiers are header context, not monetary assumptions · forecast · Qualification Q65 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.revenueMinus20pct; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2026-10-01 / 2027-09-30; EACH signed cash item shown, compensation net payment counted once. ·
matchedExpensePaymentAlternative 3 — signed cash/revenue/compensation reconciliation
[{"field":"2.quarter","value":3,"unit":"quarter index"},{"field":"2.cashPaymentUSDm","value":2.16,"unit":"USD million"},{"field":"2.noncashAddbackRemovedUSDm","value":2.16,"unit":"USD million"},{"field":"2.liabilityTimingCashAdjustmentUSDm","value":0.0,"unit":"USD million"},{"field":"2.operativeEndingCashUSDm","value":79.53228000000001,"unit":"USD million"}] USD million for signed cash/revenue values; period dates and quarter identifiers are header context, not monetary assumptions · forecast · Qualification Q65 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.revenueMinus20pct; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2026-10-01 / 2027-09-30; EACH signed cash item shown, compensation net payment counted once. ·
matchedExpensePaymentAlternative 4 — signed cash/revenue/compensation reconciliation
[{"field":"3.quarter","value":4,"unit":"quarter index"},{"field":"3.cashPaymentUSDm","value":2.56,"unit":"USD million"},{"field":"3.noncashAddbackRemovedUSDm","value":2.56,"unit":"USD million"},{"field":"3.liabilityTimingCashAdjustmentUSDm","value":0.0,"unit":"USD million"},{"field":"3.operativeEndingCashUSDm","value":86.55900000000001,"unit":"USD million"}] USD million for signed cash/revenue values; period dates and quarter identifiers are header context, not monetary assumptions · forecast · Qualification Q65 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.revenueMinus20pct; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2026-10-01 / 2027-09-30; EACH signed cash item shown, compensation net payment counted once. ·
Matched expense/payment — minimum available cash after existing timing reserve
59.53228000000001 USD million · forecast · Qualification Q33 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2027-09-30', 'basis': 'Original economic model inclusive365 days; archived native cashPeriodEnd may be anniversary endpoint and is not silently relabeled'} ·
Matched expense/payment — terminal cash before hypothetical exercises
86.55900000000001 USD million · forecast · Qualification Q33 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2027-09-30', 'basis': 'Original economic model inclusive365 days; archived native cashPeriodEnd may be anniversary endpoint and is not silently relabeled'} ·
Matched expense/payment Q1 — operativeEndingCashUSDm
87.04678000000001 USD million · forecast · Qualification Q34 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q1 — noncashAddbackRemovedUSDm
1.44 USD million · forecast · Qualification Q34 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q1 — liabilityTimingCashAdjustmentUSDm
0 USD million · forecast · Qualification Q34 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q1 — cashPaymentUSDm
1.44 USD million · forecast · Qualification Q34 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q1 — netCashChangeUSDm
-1.44 USD million · forecast · Qualification Q34 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q2 — operativeEndingCashUSDm
79.99411 USD million · forecast · Qualification Q35 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q2 — noncashAddbackRemovedUSDm
1.84 USD million · forecast · Qualification Q35 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q2 — liabilityTimingCashAdjustmentUSDm
0 USD million · forecast · Qualification Q35 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q2 — cashPaymentUSDm
1.84 USD million · forecast · Qualification Q35 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q2 — netCashChangeUSDm
-1.84 USD million · forecast · Qualification Q35 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q3 — operativeEndingCashUSDm
79.53228000000001 USD million · forecast · Qualification Q36 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q3 — noncashAddbackRemovedUSDm
2.16 USD million · forecast · Qualification Q36 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q3 — liabilityTimingCashAdjustmentUSDm
0 USD million · forecast · Qualification Q36 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q3 — cashPaymentUSDm
2.16 USD million · forecast · Qualification Q36 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q3 — netCashChangeUSDm
-2.16 USD million · forecast · Qualification Q36 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q4 — operativeEndingCashUSDm
86.55900000000001 USD million · forecast · Qualification Q37 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q4 — noncashAddbackRemovedUSDm
2.56 USD million · forecast · Qualification Q37 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q4 — liabilityTimingCashAdjustmentUSDm
0 USD million · forecast · Qualification Q37 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q4 — cashPaymentUSDm
2.56 USD million · forecast · Qualification Q37 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q4 — netCashChangeUSDm
-2.56 USD million · forecast · Qualification Q37 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment — minimum available cash after existing timing reserve
55.27411000000001 USD million · forecast · Qualification Q33 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2027-09-30', 'basis': 'Original economic model inclusive365 days; archived native cashPeriodEnd may be anniversary endpoint and is not silently relabeled'} ·
Front-loaded cash/payment — terminal cash before hypothetical exercises
86.55900000000001 USD million · forecast · Qualification Q33 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2027-09-30', 'basis': 'Original economic model inclusive365 days; archived native cashPeriodEnd may be anniversary endpoint and is not silently relabeled'} ·
Front-loaded cash/payment Q1 — operativeEndingCashUSDm
80.48678000000001 USD million · forecast · Qualification Q38 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q1 — noncashAddbackRemovedUSDm
1.44 USD million · forecast · Qualification Q38 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q1 — liabilityTimingCashAdjustmentUSDm
-6.56 USD million · forecast · Qualification Q38 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q1 — cashPaymentUSDm
8 USD million · forecast · Qualification Q38 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q1 — netCashChangeUSDm
-8 USD million · forecast · Qualification Q38 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q2 — operativeEndingCashUSDm
75.27411000000001 USD million · forecast · Qualification Q39 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q2 — noncashAddbackRemovedUSDm
1.84 USD million · forecast · Qualification Q39 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q2 — liabilityTimingCashAdjustmentUSDm
1.84 USD million · forecast · Qualification Q39 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q2 — cashPaymentUSDm
0 USD million · forecast · Qualification Q39 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q2 — netCashChangeUSDm
0 USD million · forecast · Qualification Q39 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q3 — operativeEndingCashUSDm
76.97228000000001 USD million · forecast · Qualification Q40 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q3 — noncashAddbackRemovedUSDm
2.16 USD million · forecast · Qualification Q40 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q3 — liabilityTimingCashAdjustmentUSDm
2.16 USD million · forecast · Qualification Q40 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q3 — cashPaymentUSDm
0 USD million · forecast · Qualification Q40 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q3 — netCashChangeUSDm
0 USD million · forecast · Qualification Q40 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q4 — operativeEndingCashUSDm
86.55900000000001 USD million · forecast · Qualification Q41 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q4 — noncashAddbackRemovedUSDm
2.56 USD million · forecast · Qualification Q41 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q4 — liabilityTimingCashAdjustmentUSDm
2.56 USD million · forecast · Qualification Q41 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q4 — cashPaymentUSDm
0 USD million · forecast · Qualification Q41 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q4 — netCashChangeUSDm
0 USD million · forecast · Qualification Q41 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
marginMinus3points — operative bounded cash · conditional-not-native-approval
Scenario period
2026-10-01 → 2027-09-30 · Original economic model inclusive365 days; archived native cashPeriodEnd may be anniversary endpoint and is not silently relabeled
0 — revenues
40 fraction / ratio · forecast · Qualification Q66 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.marginMinus3points; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
1 — revenues
50 fraction / ratio · forecast · Qualification Q66 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.marginMinus3points; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
2 — revenues
60 fraction / ratio · forecast · Qualification Q66 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.marginMinus3points; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
3 — revenues
70 fraction / ratio · forecast · Qualification Q66 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.marginMinus3points; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
adjusted Net Margin
0.22 fraction / ratio · forecast · Qualification Q66 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.marginMinus3points; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
sbc
8 fraction / ratio · forecast · Qualification Q66 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.marginMinus3points; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
amort
1.229 fraction / ratio · forecast · Qualification Q66 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.marginMinus3points; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
da
5 fraction / ratio · forecast · Qualification Q66 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.marginMinus3points; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
interest Net
3 fraction / ratio · forecast · Qualification Q66 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.marginMinus3points; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
tax Rate
0.2 fraction / ratio · forecast · Qualification Q66 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.marginMinus3points; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
wc
-45 fraction / ratio · forecast · Qualification Q66 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.marginMinus3points; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
capex
10 USD million · forecast · Qualification Q66 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.marginMinus3points; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
employee Proceeds
2.2 fraction / ratio · forecast · Qualification Q66 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.marginMinus3points; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
employee Withholding
3 fraction / ratio · forecast · Qualification Q66 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.marginMinus3points; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
shares
35 million ordinary shares (dated/weighted/analyst allowance as scoped) · forecast · Qualification Q66 below. Exact immutable field-origin/proof mapping retained. Dated or assumed opening/reference stock used in a conditional model, not a newly observed cash/share balance. Original factual measurement/assumption dates and historical source evidence remain unchanged; future model use is distinct from source measurement. Retained original row scope: Original analyst conditional sensitivities.marginMinus3points; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
multiple
156.04490184213677 valuation multiple x · forecast · Qualification Q66 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.marginMinus3points; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
recognized Revenue
220 USD million · forecast · Qualification Q66 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.marginMinus3points; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
gaap EBIT
45.96375 USD million · forecast · Qualification Q66 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.marginMinus3points; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
gaap Operating Margin
0.20892613636363636 fraction / ratio · forecast · Qualification Q66 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.marginMinus3points; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
pretax
48.96375 USD million · forecast · Qualification Q66 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.marginMinus3points; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
income Tax Expense
9.79275 USD million · forecast · Qualification Q66 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.marginMinus3points; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
group NI
39.171 USD million · forecast · Qualification Q66 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.marginMinus3points; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
Net income attributable to common — stated preferred treatment
39.171 USD million · forecast · Qualification Q66 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.marginMinus3points; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
owner Income Diagnostic
39.171 USD million · forecast · Qualification Q66 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.marginMinus3points; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
Noncash CFO addback — after cash-settlement component
5 USD million · forecast · Qualification Q66 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.marginMinus3points; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
other Cfo
0 USD million · forecast · Qualification Q66 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.marginMinus3points; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
working Capital Cash
-45 USD million · forecast · Qualification Q66 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.marginMinus3points; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
Operating cash flow — stated period and case
-0.8290000000000006 USD million · forecast · Qualification Q66 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.marginMinus3points; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
adjusted Net Income Hypothesis
48.4 fraction / ratio · forecast · Qualification Q66 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.marginMinus3points; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
SBCExpense Charged No Tax Shield
8 fraction / ratio · forecast · Qualification Q66 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.marginMinus3points; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
acquired Amort Charged No Tax Shield
1.229 fraction / ratio · forecast · Qualification Q66 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.marginMinus3points; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
no Repeated FY26 Tax Benefit
true boolean qualification, not monetary measurement · not-applicable · Qualification Q66 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.marginMinus3points; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
GAAPForecast Status
analyst GAAP-style reconciliation, not issuer guidance. Historical SAR cash expense included within SBC allowance; extra target SAR cash tested separately. retained explanatory text · not-applicable · Qualification Q66 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.marginMinus3points; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
opening Cash
102.58800000000001 USD million · forecast · Qualification Q66 below. Exact immutable field-origin/proof mapping retained. Dated or assumed opening/reference stock used in a conditional model, not a newly observed cash/share balance. Original factual measurement/assumption dates and historical source evidence remain unchanged; future model use is distinct from source measurement. Retained original row scope: Original analyst conditional sensitivities.marginMinus3points; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
Terminal cash BEFORE hypothetical exercises
90.95900000000002 USD million · forecast · Qualification Q66 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.marginMinus3points; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
terminal Cash Post Hypothetical Exercises
90.95900000000002 USD million · forecast · Qualification Q66 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.marginMinus3points; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
terminal Debt
0 fraction / ratio · forecast · Qualification Q66 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.marginMinus3points; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
terminal Ownership Claim
0 fraction / ratio · forecast · Qualification Q66 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.marginMinus3points; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
quarter Boundary Minimum Pre Exercises
77.07811000000001 fraction / ratio · forecast · Qualification Q66 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.marginMinus3points; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
intra Quarter Timing Reserve
20 fraction / ratio · forecast · Qualification Q66 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.marginMinus3points; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
Minimum available cash — bounded analyst case
57.07811000000001 USD million · forecast · Qualification Q66 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.marginMinus3points; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
policy Reserve Gap
0 fraction / ratio · forecast · Qualification Q66 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.marginMinus3points; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
cash Funding Status
conditional-positive-under-stated-assumptions retained explanatory text · not-applicable · Qualification Q66 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.marginMinus3points; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
ordinary M
32.62045 million ordinary shares (dated/weighted/analyst allowance as scoped) · forecast · Qualification Q66 below. Exact immutable field-origin/proof mapping retained. Dated or assumed opening/reference stock used in a conditional model, not a newly observed cash/share balance. Original factual measurement/assumption dates and historical source evidence remain unchanged; future model use is distinct from source measurement. Retained original row scope: Original analyst conditional sensitivities.marginMinus3points; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
total Shares M
35 million ordinary shares (dated/weighted/analyst allowance as scoped) · forecast · Qualification Q66 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.marginMinus3points; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
forward Incremental Allowance M
2.379550000000002 million ordinary shares (dated/weighted/analyst allowance as scoped) · forecast · Qualification Q66 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.marginMinus3points; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
not Exact Fully Diluted
true boolean qualification, not monetary measurement · not-applicable · Qualification Q66 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.marginMinus3points; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
exercise Cash USDm
0 USD million · forecast · Qualification Q66 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.marginMinus3points; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
convertible Shares M
0 million ordinary shares (dated/weighted/analyst allowance as scoped) · forecast · Qualification Q66 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.marginMinus3points; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
convertible Debt Removed
0 fraction / ratio · forecast · Qualification Q66 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.marginMinus3points; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
conversion Cash Settlement
0 USD million · forecast · Qualification Q66 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.marginMinus3points; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
conversion Price
Unknown (null) fraction / ratio · unknown · Qualification Q66 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
no Convert Treatment
none retained explanatory text · not-applicable · Qualification Q66 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.marginMinus3points; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
applicability
source-reviewed no outstanding convertible financing in retained balance/debt notes; options/RSUs remain separate employee claims retained explanatory text · not-applicable · Qualification Q66 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.marginMinus3points; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
terminal Shares M
35 million ordinary shares (dated/weighted/analyst allowance as scoped) · forecast · Qualification Q66 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.marginMinus3points; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
terminal Multiple
156.04490184213677 valuation multiple x · forecast · Qualification Q66 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.marginMinus3points; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
equity Pricing Identity
commonOwnerIncome*PE; no additive netcash/debt retained explanatory text · not-applicable · Qualification Q66 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.marginMinus3points; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
terminal Equity USDm
6112.434850058339 fraction / ratio · forecast · Qualification Q66 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.marginMinus3points; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
Per-share scenario price — unchanged
174.64099571595256 USD/share · forecast · Qualification Q66 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.marginMinus3points; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
price Ratio
1.7189074639645394 fraction / ratio · forecast · Qualification Q66 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.marginMinus3points; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
GAAPCommon PEContext
156.04490184213677 valuation multiple x · forecast · Qualification Q66 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.marginMinus3points; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
no Warrant Cash In Trough
true boolean qualification, not monetary measurement · not-applicable · Qualification Q66 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.marginMinus3points; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
not Observed Daily Cash
true boolean qualification, not monetary measurement · not-applicable · Qualification Q66 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.marginMinus3points; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
0 — operativeCashComponentRangeUSDm
0 USD million · forecast · Qualification Q66 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.marginMinus3points; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
1 — operativeCashComponentRangeUSDm
8 USD million · forecast · Qualification Q66 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.marginMinus3points; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
cash Endpoint Convention
c=upper existing expense budget, frontloaded within horizon for displayed operative cash;0cash/all-noncash and matched/delayed endpoints in separately bounded proof below retained explanatory text · not-applicable · Qualification Q66 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.marginMinus3points; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
bound Conditions
If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. retained explanatory text · not-applicable · Qualification Q66 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.marginMinus3points; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
minimum Bound Includes Original Timing Reserve
true boolean qualification, not monetary measurement · not-applicable · Qualification Q66 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.marginMinus3points; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
operativeQuarter 1 — signed cash/revenue/compensation reconciliation
[{"field":"0.quarter","value":1,"unit":"fraction / ratio"},{"field":"0.periodStart","value":"2026-10-01","unit":"retained explanatory text"},{"field":"0.periodEnd","value":"2026-12-31","unit":"retained explanatory text"},{"field":"0.inclusiveDays","value":92,"unit":"fraction / ratio"},{"field":"0.recognizedRevenueHypothesis","value":40,"unit":"USD million"},{"field":"0.openingCash","value":102.58800000000001,"unit":"USD million"},{"field":"0.flows.operatingCashBeforeWorkingCapital","value":1.3907799999999995,"unit":"USD million"},{"field":"0.flows.workingCapitalCash","value":-18.0,"unit":"USD million"},{"field":"0.flows.cashPPE","value":-4.5,"unit":"USD million"},{"field":"0.flows.softwareCash","value":-0.0,"unit":"USD million"},{"field":"0.flows.acquisitionCash","value":-0.0,"unit":"USD million"},{"field":"0.flows.ordinaryBuybackCash","value":-0.0,"unit":"USD million"},{"field":"0.flows.cashDistributions","value":-0.0,"unit":"USD million"},{"field":"0.flows.employeeTaxWithholdingCash","value":-0.75,"unit":"USD million"},{"field":"0.flows.employeePlanProceedsFinancing","value":0.55,"unit":"fraction / ratio"},{"field":"0.flows.debtRaised","value":0.0,"unit":"fraction / ratio"},{"field":"0.flows.debtPrincipalRepaid","value":-0.0,"unit":"fraction / ratio"},{"field":"0.flows.extraStressUse","value":0,"unit":"fraction / ratio"},{"field":"0.endingCashBeforeTargetExercises","value":81.27878000000001,"unit":"USD million"},{"field":"0.endingDebt","value":0.0,"unit":"fraction / ratio"},{"field":"0.noncashAddbackRemovedUSDm","value":1.44,"unit":"USD million"},{"field":"0.liabilityTimingCashAdjustmentUSDm","value":-6.56,"unit":"USD million"},{"field":"0.cashCompensationPaymentUSDm","value":8.0,"unit":"USD million"},{"field":"0.cashCostCountedOnceNetChangeUSDm","value":-8.0,"unit":"USD million"}] USD million for signed cash/revenue values; period dates and quarter identifiers are header context, not monetary assumptions · forecast · Qualification Q67 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.marginMinus3points; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2026-10-01 / 2026-12-31; EACH signed cash item shown, compensation net payment counted once. ·
operativeQuarter 2 — signed cash/revenue/compensation reconciliation
[{"field":"1.quarter","value":2,"unit":"fraction / ratio"},{"field":"1.periodStart","value":"2027-01-01","unit":"retained explanatory text"},{"field":"1.periodEnd","value":"2027-03-31","unit":"retained explanatory text"},{"field":"1.inclusiveDays","value":90,"unit":"fraction / ratio"},{"field":"1.recognizedRevenueHypothesis","value":50,"unit":"USD million"},{"field":"1.openingCash","value":81.27878000000001,"unit":"USD million"},{"field":"1.flows.operatingCashBeforeWorkingCapital","value":11.99933,"unit":"USD million"},{"field":"1.flows.workingCapitalCash","value":-13.5,"unit":"USD million"},{"field":"1.flows.cashPPE","value":-2.5,"unit":"USD million"},{"field":"1.flows.softwareCash","value":-0.0,"unit":"USD million"},{"field":"1.flows.acquisitionCash","value":-0.0,"unit":"USD million"},{"field":"1.flows.ordinaryBuybackCash","value":-0.0,"unit":"USD million"},{"field":"1.flows.cashDistributions","value":-0.0,"unit":"USD million"},{"field":"1.flows.employeeTaxWithholdingCash","value":-0.75,"unit":"USD million"},{"field":"1.flows.employeePlanProceedsFinancing","value":0.55,"unit":"fraction / ratio"},{"field":"1.flows.debtRaised","value":0.0,"unit":"fraction / ratio"},{"field":"1.flows.debtPrincipalRepaid","value":-0.0,"unit":"fraction / ratio"},{"field":"1.flows.extraStressUse","value":0,"unit":"fraction / ratio"},{"field":"1.endingCashBeforeTargetExercises","value":77.07811000000001,"unit":"USD million"},{"field":"1.endingDebt","value":0.0,"unit":"fraction / ratio"},{"field":"1.noncashAddbackRemovedUSDm","value":1.84,"unit":"USD million"},{"field":"1.liabilityTimingCashAdjustmentUSDm","value":1.84,"unit":"USD million"},{"field":"1.cashCompensationPaymentUSDm","value":0.0,"unit":"USD million"},{"field":"1.cashCostCountedOnceNetChangeUSDm","value":0.0,"unit":"USD million"}] USD million for signed cash/revenue values; period dates and quarter identifiers are header context, not monetary assumptions · forecast · Qualification Q68 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.marginMinus3points; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2027-01-01 / 2027-03-31; EACH signed cash item shown, compensation net payment counted once. ·
operativeQuarter 3 — signed cash/revenue/compensation reconciliation
[{"field":"2.quarter","value":3,"unit":"fraction / ratio"},{"field":"2.periodStart","value":"2027-04-01","unit":"retained explanatory text"},{"field":"2.periodEnd","value":"2027-06-30","unit":"retained explanatory text"},{"field":"2.inclusiveDays","value":91,"unit":"fraction / ratio"},{"field":"2.recognizedRevenueHypothesis","value":60,"unit":"USD million"},{"field":"2.openingCash","value":77.07811000000001,"unit":"USD million"},{"field":"2.flows.operatingCashBeforeWorkingCapital","value":14.086170000000001,"unit":"USD million"},{"field":"2.flows.workingCapitalCash","value":-9.0,"unit":"USD million"},{"field":"2.flows.cashPPE","value":-2.0,"unit":"USD million"},{"field":"2.flows.softwareCash","value":-0.0,"unit":"USD million"},{"field":"2.flows.acquisitionCash","value":-0.0,"unit":"USD million"},{"field":"2.flows.ordinaryBuybackCash","value":-0.0,"unit":"USD million"},{"field":"2.flows.cashDistributions","value":-0.0,"unit":"USD million"},{"field":"2.flows.employeeTaxWithholdingCash","value":-0.75,"unit":"USD million"},{"field":"2.flows.employeePlanProceedsFinancing","value":0.55,"unit":"fraction / ratio"},{"field":"2.flows.debtRaised","value":0.0,"unit":"fraction / ratio"},{"field":"2.flows.debtPrincipalRepaid","value":-0.0,"unit":"fraction / ratio"},{"field":"2.flows.extraStressUse","value":0,"unit":"fraction / ratio"},{"field":"2.endingCashBeforeTargetExercises","value":79.96428000000002,"unit":"USD million"},{"field":"2.endingDebt","value":0.0,"unit":"fraction / ratio"},{"field":"2.noncashAddbackRemovedUSDm","value":2.16,"unit":"USD million"},{"field":"2.liabilityTimingCashAdjustmentUSDm","value":2.16,"unit":"USD million"},{"field":"2.cashCompensationPaymentUSDm","value":0.0,"unit":"USD million"},{"field":"2.cashCostCountedOnceNetChangeUSDm","value":0.0,"unit":"USD million"}] USD million for signed cash/revenue values; period dates and quarter identifiers are header context, not monetary assumptions · forecast · Qualification Q69 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.marginMinus3points; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2027-04-01 / 2027-06-30; EACH signed cash item shown, compensation net payment counted once. ·
operativeQuarter 4 — signed cash/revenue/compensation reconciliation
[{"field":"3.quarter","value":4,"unit":"fraction / ratio"},{"field":"3.periodStart","value":"2027-07-01","unit":"retained explanatory text"},{"field":"3.periodEnd","value":"2027-09-30","unit":"retained explanatory text"},{"field":"3.inclusiveDays","value":92,"unit":"fraction / ratio"},{"field":"3.recognizedRevenueHypothesis","value":70,"unit":"USD million"},{"field":"3.openingCash","value":79.96428000000002,"unit":"USD million"},{"field":"3.flows.operatingCashBeforeWorkingCapital","value":16.69472,"unit":"USD million"},{"field":"3.flows.workingCapitalCash","value":-4.5,"unit":"USD million"},{"field":"3.flows.cashPPE","value":-1.0,"unit":"USD million"},{"field":"3.flows.softwareCash","value":-0.0,"unit":"USD million"},{"field":"3.flows.acquisitionCash","value":0,"unit":"USD million"},{"field":"3.flows.ordinaryBuybackCash","value":-0.0,"unit":"USD million"},{"field":"3.flows.cashDistributions","value":-0.0,"unit":"USD million"},{"field":"3.flows.employeeTaxWithholdingCash","value":-0.75,"unit":"USD million"},{"field":"3.flows.employeePlanProceedsFinancing","value":0.55,"unit":"fraction / ratio"},{"field":"3.flows.debtRaised","value":0.0,"unit":"fraction / ratio"},{"field":"3.flows.debtPrincipalRepaid","value":-0.0,"unit":"fraction / ratio"},{"field":"3.flows.extraStressUse","value":0,"unit":"fraction / ratio"},{"field":"3.endingCashBeforeTargetExercises","value":90.95900000000002,"unit":"USD million"},{"field":"3.endingDebt","value":0.0,"unit":"fraction / ratio"},{"field":"3.noncashAddbackRemovedUSDm","value":2.56,"unit":"USD million"},{"field":"3.liabilityTimingCashAdjustmentUSDm","value":2.56,"unit":"USD million"},{"field":"3.cashCompensationPaymentUSDm","value":0.0,"unit":"USD million"},{"field":"3.cashCostCountedOnceNetChangeUSDm","value":0.0,"unit":"USD million"}] USD million for signed cash/revenue values; period dates and quarter identifiers are header context, not monetary assumptions · forecast · Qualification Q70 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.marginMinus3points; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2027-07-01 / 2027-09-30; EACH signed cash item shown, compensation net payment counted once. ·
matchedExpensePaymentAlternative 1 — signed cash/revenue/compensation reconciliation
[{"field":"0.quarter","value":1,"unit":"fraction / ratio"},{"field":"0.cashPaymentUSDm","value":1.44,"unit":"USD million"},{"field":"0.noncashAddbackRemovedUSDm","value":1.44,"unit":"USD million"},{"field":"0.liabilityTimingCashAdjustmentUSDm","value":0.0,"unit":"USD million"},{"field":"0.operativeEndingCashUSDm","value":87.83878000000001,"unit":"USD million"}] USD million for signed cash/revenue values; period dates and quarter identifiers are header context, not monetary assumptions · forecast · Qualification Q71 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.marginMinus3points; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2026-10-01 / 2027-09-30; EACH signed cash item shown, compensation net payment counted once. ·
matchedExpensePaymentAlternative 2 — signed cash/revenue/compensation reconciliation
[{"field":"1.quarter","value":2,"unit":"fraction / ratio"},{"field":"1.cashPaymentUSDm","value":1.84,"unit":"USD million"},{"field":"1.noncashAddbackRemovedUSDm","value":1.84,"unit":"USD million"},{"field":"1.liabilityTimingCashAdjustmentUSDm","value":0.0,"unit":"USD million"},{"field":"1.operativeEndingCashUSDm","value":81.79811000000001,"unit":"USD million"}] USD million for signed cash/revenue values; period dates and quarter identifiers are header context, not monetary assumptions · forecast · Qualification Q71 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.marginMinus3points; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2026-10-01 / 2027-09-30; EACH signed cash item shown, compensation net payment counted once. ·
matchedExpensePaymentAlternative 3 — signed cash/revenue/compensation reconciliation
[{"field":"2.quarter","value":3,"unit":"fraction / ratio"},{"field":"2.cashPaymentUSDm","value":2.16,"unit":"USD million"},{"field":"2.noncashAddbackRemovedUSDm","value":2.16,"unit":"USD million"},{"field":"2.liabilityTimingCashAdjustmentUSDm","value":0.0,"unit":"USD million"},{"field":"2.operativeEndingCashUSDm","value":82.52428000000002,"unit":"USD million"}] USD million for signed cash/revenue values; period dates and quarter identifiers are header context, not monetary assumptions · forecast · Qualification Q71 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.marginMinus3points; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2026-10-01 / 2027-09-30; EACH signed cash item shown, compensation net payment counted once. ·
matchedExpensePaymentAlternative 4 — signed cash/revenue/compensation reconciliation
[{"field":"3.quarter","value":4,"unit":"fraction / ratio"},{"field":"3.cashPaymentUSDm","value":2.56,"unit":"USD million"},{"field":"3.noncashAddbackRemovedUSDm","value":2.56,"unit":"USD million"},{"field":"3.liabilityTimingCashAdjustmentUSDm","value":0.0,"unit":"USD million"},{"field":"3.operativeEndingCashUSDm","value":90.95900000000002,"unit":"USD million"}] USD million for signed cash/revenue values; period dates and quarter identifiers are header context, not monetary assumptions · forecast · Qualification Q71 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.marginMinus3points; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2026-10-01 / 2027-09-30; EACH signed cash item shown, compensation net payment counted once. ·
Matched expense/payment — minimum available cash after existing timing reserve
61.79811000000001 USD million · forecast · Qualification Q33 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2027-09-30', 'basis': 'Original economic model inclusive365 days; archived native cashPeriodEnd may be anniversary endpoint and is not silently relabeled'} ·
Matched expense/payment — terminal cash before hypothetical exercises
90.95900000000002 USD million · forecast · Qualification Q33 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2027-09-30', 'basis': 'Original economic model inclusive365 days; archived native cashPeriodEnd may be anniversary endpoint and is not silently relabeled'} ·
Matched expense/payment Q1 — operativeEndingCashUSDm
87.83878000000001 USD million · forecast · Qualification Q34 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q1 — noncashAddbackRemovedUSDm
1.44 USD million · forecast · Qualification Q34 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q1 — liabilityTimingCashAdjustmentUSDm
0 USD million · forecast · Qualification Q34 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q1 — cashPaymentUSDm
1.44 USD million · forecast · Qualification Q34 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q1 — netCashChangeUSDm
-1.44 USD million · forecast · Qualification Q34 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q2 — operativeEndingCashUSDm
81.79811000000001 USD million · forecast · Qualification Q35 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q2 — noncashAddbackRemovedUSDm
1.84 USD million · forecast · Qualification Q35 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q2 — liabilityTimingCashAdjustmentUSDm
0 USD million · forecast · Qualification Q35 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q2 — cashPaymentUSDm
1.84 USD million · forecast · Qualification Q35 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q2 — netCashChangeUSDm
-1.84 USD million · forecast · Qualification Q35 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q3 — operativeEndingCashUSDm
82.52428000000002 USD million · forecast · Qualification Q36 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q3 — noncashAddbackRemovedUSDm
2.16 USD million · forecast · Qualification Q36 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q3 — liabilityTimingCashAdjustmentUSDm
0 USD million · forecast · Qualification Q36 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q3 — cashPaymentUSDm
2.16 USD million · forecast · Qualification Q36 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q3 — netCashChangeUSDm
-2.16 USD million · forecast · Qualification Q36 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q4 — operativeEndingCashUSDm
90.95900000000002 USD million · forecast · Qualification Q37 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q4 — noncashAddbackRemovedUSDm
2.56 USD million · forecast · Qualification Q37 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q4 — liabilityTimingCashAdjustmentUSDm
0 USD million · forecast · Qualification Q37 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q4 — cashPaymentUSDm
2.56 USD million · forecast · Qualification Q37 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q4 — netCashChangeUSDm
-2.56 USD million · forecast · Qualification Q37 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment — minimum available cash after existing timing reserve
57.07811000000001 USD million · forecast · Qualification Q33 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2027-09-30', 'basis': 'Original economic model inclusive365 days; archived native cashPeriodEnd may be anniversary endpoint and is not silently relabeled'} ·
Front-loaded cash/payment — terminal cash before hypothetical exercises
90.95900000000002 USD million · forecast · Qualification Q33 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2027-09-30', 'basis': 'Original economic model inclusive365 days; archived native cashPeriodEnd may be anniversary endpoint and is not silently relabeled'} ·
Front-loaded cash/payment Q1 — operativeEndingCashUSDm
81.27878000000001 USD million · forecast · Qualification Q38 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q1 — noncashAddbackRemovedUSDm
1.44 USD million · forecast · Qualification Q38 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q1 — liabilityTimingCashAdjustmentUSDm
-6.56 USD million · forecast · Qualification Q38 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q1 — cashPaymentUSDm
8 USD million · forecast · Qualification Q38 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q1 — netCashChangeUSDm
-8 USD million · forecast · Qualification Q38 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q2 — operativeEndingCashUSDm
77.07811000000001 USD million · forecast · Qualification Q39 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q2 — noncashAddbackRemovedUSDm
1.84 USD million · forecast · Qualification Q39 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q2 — liabilityTimingCashAdjustmentUSDm
1.84 USD million · forecast · Qualification Q39 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q2 — cashPaymentUSDm
0 USD million · forecast · Qualification Q39 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q2 — netCashChangeUSDm
0 USD million · forecast · Qualification Q39 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q3 — operativeEndingCashUSDm
79.96428000000002 USD million · forecast · Qualification Q40 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q3 — noncashAddbackRemovedUSDm
2.16 USD million · forecast · Qualification Q40 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q3 — liabilityTimingCashAdjustmentUSDm
2.16 USD million · forecast · Qualification Q40 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q3 — cashPaymentUSDm
0 USD million · forecast · Qualification Q40 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q3 — netCashChangeUSDm
0 USD million · forecast · Qualification Q40 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q4 — operativeEndingCashUSDm
90.95900000000002 USD million · forecast · Qualification Q41 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q4 — noncashAddbackRemovedUSDm
2.56 USD million · forecast · Qualification Q41 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q4 — liabilityTimingCashAdjustmentUSDm
2.56 USD million · forecast · Qualification Q41 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q4 — cashPaymentUSDm
0 USD million · forecast · Qualification Q41 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q4 — netCashChangeUSDm
0 USD million · forecast · Qualification Q41 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
additional5pctClaimShares — operative bounded cash · conditional-not-native-approval
Scenario period
2026-10-01 → 2027-09-30 · Original economic model inclusive365 days; archived native cashPeriodEnd may be anniversary endpoint and is not silently relabeled
0 — revenues
40 million ordinary shares (dated or analyst allowance, NOT current exact FD) · forecast · Qualification Q72 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.additional5pctClaimShares; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
1 — revenues
50 million ordinary shares (dated or analyst allowance, NOT current exact FD) · forecast · Qualification Q72 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.additional5pctClaimShares; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
2 — revenues
60 million ordinary shares (dated or analyst allowance, NOT current exact FD) · forecast · Qualification Q72 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.additional5pctClaimShares; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
3 — revenues
70 million ordinary shares (dated or analyst allowance, NOT current exact FD) · forecast · Qualification Q72 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.additional5pctClaimShares; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
adjusted Net Margin
0.25 fraction / ratio · forecast · Qualification Q72 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.additional5pctClaimShares; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
sbc
8 million ordinary shares (dated or analyst allowance, NOT current exact FD) · forecast · Qualification Q72 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.additional5pctClaimShares; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
amort
1.229 million ordinary shares (dated or analyst allowance, NOT current exact FD) · forecast · Qualification Q72 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.additional5pctClaimShares; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
da
5 million ordinary shares (dated or analyst allowance, NOT current exact FD) · forecast · Qualification Q72 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.additional5pctClaimShares; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
interest Net
3 million ordinary shares (dated or analyst allowance, NOT current exact FD) · forecast · Qualification Q72 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.additional5pctClaimShares; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
tax Rate
0.2 fraction / ratio · forecast · Qualification Q72 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.additional5pctClaimShares; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
wc
-45 million ordinary shares (dated or analyst allowance, NOT current exact FD) · forecast · Qualification Q72 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.additional5pctClaimShares; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
capex
10 USD million · forecast · Qualification Q72 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.additional5pctClaimShares; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
employee Proceeds
2.2 million ordinary shares (dated or analyst allowance, NOT current exact FD) · forecast · Qualification Q72 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.additional5pctClaimShares; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
employee Withholding
3 million ordinary shares (dated or analyst allowance, NOT current exact FD) · forecast · Qualification Q72 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.additional5pctClaimShares; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
shares
35 million ordinary shares (dated/weighted/analyst allowance as scoped) · forecast · Qualification Q72 below. Exact immutable field-origin/proof mapping retained. Dated or assumed opening/reference stock used in a conditional model, not a newly observed cash/share balance. Original factual measurement/assumption dates and historical source evidence remain unchanged; future model use is distinct from source measurement. Retained original row scope: Original analyst conditional sensitivities.additional5pctClaimShares; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
multiple
156.04490184213677 valuation multiple x · forecast · Qualification Q72 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.additional5pctClaimShares; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
recognized Revenue
220 USD million · forecast · Qualification Q72 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.additional5pctClaimShares; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
gaap EBIT
54.213750000000005 USD million · forecast · Qualification Q72 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.additional5pctClaimShares; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
gaap Operating Margin
0.2464261363636364 fraction / ratio · forecast · Qualification Q72 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.additional5pctClaimShares; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
pretax
57.213750000000005 USD million · forecast · Qualification Q72 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.additional5pctClaimShares; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
income Tax Expense
11.44275 USD million · forecast · Qualification Q72 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.additional5pctClaimShares; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
group NI
45.771 USD million · forecast · Qualification Q72 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.additional5pctClaimShares; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
Net income attributable to common — stated preferred treatment
45.771 USD million · forecast · Qualification Q72 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.additional5pctClaimShares; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
owner Income Diagnostic
45.771 USD million · forecast · Qualification Q72 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.additional5pctClaimShares; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
Noncash CFO addback — after cash-settlement component
5 USD million · forecast · Qualification Q72 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.additional5pctClaimShares; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
other Cfo
0 USD million · forecast · Qualification Q72 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.additional5pctClaimShares; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
working Capital Cash
-45 USD million · forecast · Qualification Q72 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.additional5pctClaimShares; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
Operating cash flow — stated period and case
5.771000000000001 USD million · forecast · Qualification Q72 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.additional5pctClaimShares; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
adjusted Net Income Hypothesis
55 million ordinary shares (dated or analyst allowance, NOT current exact FD) · forecast · Qualification Q72 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.additional5pctClaimShares; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
SBCExpense Charged No Tax Shield
8 million ordinary shares (dated or analyst allowance, NOT current exact FD) · forecast · Qualification Q72 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.additional5pctClaimShares; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
acquired Amort Charged No Tax Shield
1.229 million ordinary shares (dated or analyst allowance, NOT current exact FD) · forecast · Qualification Q72 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.additional5pctClaimShares; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
no Repeated FY26 Tax Benefit
true boolean qualification, not monetary measurement · not-applicable · Qualification Q72 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.additional5pctClaimShares; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
GAAPForecast Status
analyst GAAP-style reconciliation, not issuer guidance. Historical SAR cash expense included within SBC allowance; extra target SAR cash tested separately. retained explanatory text · not-applicable · Qualification Q72 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.additional5pctClaimShares; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
opening Cash
102.58800000000001 USD million · forecast · Qualification Q72 below. Exact immutable field-origin/proof mapping retained. Dated or assumed opening/reference stock used in a conditional model, not a newly observed cash/share balance. Original factual measurement/assumption dates and historical source evidence remain unchanged; future model use is distinct from source measurement. Retained original row scope: Original analyst conditional sensitivities.additional5pctClaimShares; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
Terminal cash BEFORE hypothetical exercises
97.55900000000003 USD million · forecast · Qualification Q72 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.additional5pctClaimShares; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
terminal Cash Post Hypothetical Exercises
97.55900000000003 USD million · forecast · Qualification Q72 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.additional5pctClaimShares; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
terminal Debt
0 million ordinary shares (dated or analyst allowance, NOT current exact FD) · forecast · Qualification Q72 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.additional5pctClaimShares; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
terminal Ownership Claim
0 million ordinary shares (dated or analyst allowance, NOT current exact FD) · forecast · Qualification Q72 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.additional5pctClaimShares; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
quarter Boundary Minimum Pre Exercises
79.78411000000001 million ordinary shares (dated or analyst allowance, NOT current exact FD) · forecast · Qualification Q72 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.additional5pctClaimShares; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
intra Quarter Timing Reserve
20 million ordinary shares (dated or analyst allowance, NOT current exact FD) · forecast · Qualification Q72 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.additional5pctClaimShares; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
Minimum available cash — bounded analyst case
59.78411000000001 USD million · forecast · Qualification Q72 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.additional5pctClaimShares; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
policy Reserve Gap
0 million ordinary shares (dated or analyst allowance, NOT current exact FD) · forecast · Qualification Q72 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.additional5pctClaimShares; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
cash Funding Status
conditional-positive-under-stated-assumptions retained explanatory text · not-applicable · Qualification Q72 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.additional5pctClaimShares; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
ordinary M
32.62045 million ordinary shares (dated/weighted/analyst allowance as scoped) · forecast · Qualification Q72 below. Exact immutable field-origin/proof mapping retained. Dated or assumed opening/reference stock used in a conditional model, not a newly observed cash/share balance. Original factual measurement/assumption dates and historical source evidence remain unchanged; future model use is distinct from source measurement. Retained original row scope: Original analyst conditional sensitivities.additional5pctClaimShares; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
total Shares M
35 million ordinary shares (dated/weighted/analyst allowance as scoped) · forecast · Qualification Q72 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.additional5pctClaimShares; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
forward Incremental Allowance M
2.379550000000002 million ordinary shares (dated/weighted/analyst allowance as scoped) · forecast · Qualification Q72 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.additional5pctClaimShares; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
not Exact Fully Diluted
true boolean qualification, not monetary measurement · not-applicable · Qualification Q72 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.additional5pctClaimShares; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
exercise Cash USDm
0 USD million · forecast · Qualification Q72 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.additional5pctClaimShares; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
convertible Shares M
0 million ordinary shares (dated/weighted/analyst allowance as scoped) · forecast · Qualification Q72 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.additional5pctClaimShares; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
convertible Debt Removed
0 million ordinary shares (dated or analyst allowance, NOT current exact FD) · forecast · Qualification Q72 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.additional5pctClaimShares; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
conversion Cash Settlement
0 USD million · forecast · Qualification Q72 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.additional5pctClaimShares; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
conversion Price
Unknown (null) million ordinary shares (dated or analyst allowance, NOT current exact FD) · unknown · Qualification Q72 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
no Convert Treatment
none retained explanatory text · not-applicable · Qualification Q72 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.additional5pctClaimShares; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
applicability
source-reviewed no outstanding convertible financing in retained balance/debt notes; options/RSUs remain separate employee claims retained explanatory text · not-applicable · Qualification Q72 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.additional5pctClaimShares; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
terminal Shares M
36.75 million ordinary shares (dated/weighted/analyst allowance as scoped) · forecast · Qualification Q72 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.additional5pctClaimShares; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
terminal Multiple
156.04490184213677 valuation multiple x · forecast · Qualification Q72 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.additional5pctClaimShares; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
equity Pricing Identity
commonOwnerIncome*PE; no additive netcash/debt retained explanatory text · not-applicable · Qualification Q72 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.additional5pctClaimShares; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
terminal Equity USDm
7142.331202216442 million ordinary shares (dated or analyst allowance, NOT current exact FD) · forecast · Qualification Q72 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.additional5pctClaimShares; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
Per-share scenario price — unchanged
194.34914835963107 USD/share · forecast · Qualification Q72 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.additional5pctClaimShares; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
price Ratio
1.9128853472289613 fraction / ratio · forecast · Qualification Q72 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.additional5pctClaimShares; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
GAAPCommon PEContext
156.04490184213677 valuation multiple x · forecast · Qualification Q72 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.additional5pctClaimShares; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
no Warrant Cash In Trough
true boolean qualification, not monetary measurement · not-applicable · Qualification Q72 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.additional5pctClaimShares; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
not Observed Daily Cash
true boolean qualification, not monetary measurement · not-applicable · Qualification Q72 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.additional5pctClaimShares; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
0 — operativeCashComponentRangeUSDm
0 USD million · forecast · Qualification Q72 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.additional5pctClaimShares; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
1 — operativeCashComponentRangeUSDm
8 USD million · forecast · Qualification Q72 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.additional5pctClaimShares; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
cash Endpoint Convention
c=upper existing expense budget, frontloaded within horizon for displayed operative cash;0cash/all-noncash and matched/delayed endpoints in separately bounded proof below retained explanatory text · not-applicable · Qualification Q72 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.additional5pctClaimShares; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
bound Conditions
If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. retained explanatory text · not-applicable · Qualification Q72 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.additional5pctClaimShares; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
minimum Bound Includes Original Timing Reserve
true boolean qualification, not monetary measurement · not-applicable · Qualification Q72 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.additional5pctClaimShares; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
operativeQuarter 1 — signed cash/revenue/compensation reconciliation
[{"field":"0.quarter","value":1,"unit":"million ordinary shares (dated or analyst allowance, NOT current exact FD)"},{"field":"0.periodStart","value":"2026-10-01","unit":"retained explanatory text"},{"field":"0.periodEnd","value":"2026-12-31","unit":"retained explanatory text"},{"field":"0.inclusiveDays","value":92,"unit":"million ordinary shares (dated or analyst allowance, NOT current exact FD)"},{"field":"0.recognizedRevenueHypothesis","value":40,"unit":"USD million"},{"field":"0.openingCash","value":102.58800000000001,"unit":"USD million"},{"field":"0.flows.operatingCashBeforeWorkingCapital","value":2.57878,"unit":"USD million"},{"field":"0.flows.workingCapitalCash","value":-18.0,"unit":"USD million"},{"field":"0.flows.cashPPE","value":-4.5,"unit":"USD million"},{"field":"0.flows.softwareCash","value":-0.0,"unit":"USD million"},{"field":"0.flows.acquisitionCash","value":-0.0,"unit":"USD million"},{"field":"0.flows.ordinaryBuybackCash","value":-0.0,"unit":"USD million"},{"field":"0.flows.cashDistributions","value":-0.0,"unit":"USD million"},{"field":"0.flows.employeeTaxWithholdingCash","value":-0.75,"unit":"USD million"},{"field":"0.flows.employeePlanProceedsFinancing","value":0.55,"unit":"million ordinary shares (dated or analyst allowance, NOT current exact FD)"},{"field":"0.flows.debtRaised","value":0.0,"unit":"million ordinary shares (dated or analyst allowance, NOT current exact FD)"},{"field":"0.flows.debtPrincipalRepaid","value":-0.0,"unit":"million ordinary shares (dated or analyst allowance, NOT current exact FD)"},{"field":"0.flows.extraStressUse","value":0,"unit":"million ordinary shares (dated or analyst allowance, NOT current exact FD)"},{"field":"0.endingCashBeforeTargetExercises","value":82.46678000000001,"unit":"USD million"},{"field":"0.endingDebt","value":0.0,"unit":"million ordinary shares (dated or analyst allowance, NOT current exact FD)"},{"field":"0.noncashAddbackRemovedUSDm","value":1.44,"unit":"USD million"},{"field":"0.liabilityTimingCashAdjustmentUSDm","value":-6.56,"unit":"USD million"},{"field":"0.cashCompensationPaymentUSDm","value":8.0,"unit":"USD million"},{"field":"0.cashCostCountedOnceNetChangeUSDm","value":-8.0,"unit":"USD million"}] USD million for signed cash/revenue values; period dates and quarter identifiers are header context, not monetary assumptions · forecast · Qualification Q73 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.additional5pctClaimShares; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2026-10-01 / 2026-12-31; EACH signed cash item shown, compensation net payment counted once. ·
operativeQuarter 2 — signed cash/revenue/compensation reconciliation
[{"field":"1.quarter","value":2,"unit":"million ordinary shares (dated or analyst allowance, NOT current exact FD)"},{"field":"1.periodStart","value":"2027-01-01","unit":"retained explanatory text"},{"field":"1.periodEnd","value":"2027-03-31","unit":"retained explanatory text"},{"field":"1.inclusiveDays","value":90,"unit":"million ordinary shares (dated or analyst allowance, NOT current exact FD)"},{"field":"1.recognizedRevenueHypothesis","value":50,"unit":"USD million"},{"field":"1.openingCash","value":82.46678000000001,"unit":"USD million"},{"field":"1.flows.operatingCashBeforeWorkingCapital","value":13.517330000000001,"unit":"USD million"},{"field":"1.flows.workingCapitalCash","value":-13.5,"unit":"USD million"},{"field":"1.flows.cashPPE","value":-2.5,"unit":"USD million"},{"field":"1.flows.softwareCash","value":-0.0,"unit":"USD million"},{"field":"1.flows.acquisitionCash","value":-0.0,"unit":"USD million"},{"field":"1.flows.ordinaryBuybackCash","value":-0.0,"unit":"USD million"},{"field":"1.flows.cashDistributions","value":-0.0,"unit":"USD million"},{"field":"1.flows.employeeTaxWithholdingCash","value":-0.75,"unit":"USD million"},{"field":"1.flows.employeePlanProceedsFinancing","value":0.55,"unit":"million ordinary shares (dated or analyst allowance, NOT current exact FD)"},{"field":"1.flows.debtRaised","value":0.0,"unit":"million ordinary shares (dated or analyst allowance, NOT current exact FD)"},{"field":"1.flows.debtPrincipalRepaid","value":-0.0,"unit":"million ordinary shares (dated or analyst allowance, NOT current exact FD)"},{"field":"1.flows.extraStressUse","value":0,"unit":"million ordinary shares (dated or analyst allowance, NOT current exact FD)"},{"field":"1.endingCashBeforeTargetExercises","value":79.78411000000001,"unit":"USD million"},{"field":"1.endingDebt","value":0.0,"unit":"million ordinary shares (dated or analyst allowance, NOT current exact FD)"},{"field":"1.noncashAddbackRemovedUSDm","value":1.84,"unit":"USD million"},{"field":"1.liabilityTimingCashAdjustmentUSDm","value":1.84,"unit":"USD million"},{"field":"1.cashCompensationPaymentUSDm","value":0.0,"unit":"USD million"},{"field":"1.cashCostCountedOnceNetChangeUSDm","value":0.0,"unit":"USD million"}] USD million for signed cash/revenue values; period dates and quarter identifiers are header context, not monetary assumptions · forecast · Qualification Q74 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.additional5pctClaimShares; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2027-01-01 / 2027-03-31; EACH signed cash item shown, compensation net payment counted once. ·
operativeQuarter 3 — signed cash/revenue/compensation reconciliation
[{"field":"2.quarter","value":3,"unit":"million ordinary shares (dated or analyst allowance, NOT current exact FD)"},{"field":"2.periodStart","value":"2027-04-01","unit":"retained explanatory text"},{"field":"2.periodEnd","value":"2027-06-30","unit":"retained explanatory text"},{"field":"2.inclusiveDays","value":91,"unit":"million ordinary shares (dated or analyst allowance, NOT current exact FD)"},{"field":"2.recognizedRevenueHypothesis","value":60,"unit":"USD million"},{"field":"2.openingCash","value":79.78411000000001,"unit":"USD million"},{"field":"2.flows.operatingCashBeforeWorkingCapital","value":15.868170000000001,"unit":"USD million"},{"field":"2.flows.workingCapitalCash","value":-9.0,"unit":"USD million"},{"field":"2.flows.cashPPE","value":-2.0,"unit":"USD million"},{"field":"2.flows.softwareCash","value":-0.0,"unit":"USD million"},{"field":"2.flows.acquisitionCash","value":-0.0,"unit":"USD million"},{"field":"2.flows.ordinaryBuybackCash","value":-0.0,"unit":"USD million"},{"field":"2.flows.cashDistributions","value":-0.0,"unit":"USD million"},{"field":"2.flows.employeeTaxWithholdingCash","value":-0.75,"unit":"USD million"},{"field":"2.flows.employeePlanProceedsFinancing","value":0.55,"unit":"million ordinary shares (dated or analyst allowance, NOT current exact FD)"},{"field":"2.flows.debtRaised","value":0.0,"unit":"million ordinary shares (dated or analyst allowance, NOT current exact FD)"},{"field":"2.flows.debtPrincipalRepaid","value":-0.0,"unit":"million ordinary shares (dated or analyst allowance, NOT current exact FD)"},{"field":"2.flows.extraStressUse","value":0,"unit":"million ordinary shares (dated or analyst allowance, NOT current exact FD)"},{"field":"2.endingCashBeforeTargetExercises","value":84.45228000000002,"unit":"USD million"},{"field":"2.endingDebt","value":0.0,"unit":"million ordinary shares (dated or analyst allowance, NOT current exact FD)"},{"field":"2.noncashAddbackRemovedUSDm","value":2.16,"unit":"USD million"},{"field":"2.liabilityTimingCashAdjustmentUSDm","value":2.16,"unit":"USD million"},{"field":"2.cashCompensationPaymentUSDm","value":0.0,"unit":"USD million"},{"field":"2.cashCostCountedOnceNetChangeUSDm","value":0.0,"unit":"USD million"}] USD million for signed cash/revenue values; period dates and quarter identifiers are header context, not monetary assumptions · forecast · Qualification Q75 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.additional5pctClaimShares; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2027-04-01 / 2027-06-30; EACH signed cash item shown, compensation net payment counted once. ·
operativeQuarter 4 — signed cash/revenue/compensation reconciliation
[{"field":"3.quarter","value":4,"unit":"million ordinary shares (dated or analyst allowance, NOT current exact FD)"},{"field":"3.periodStart","value":"2027-07-01","unit":"retained explanatory text"},{"field":"3.periodEnd","value":"2027-09-30","unit":"retained explanatory text"},{"field":"3.inclusiveDays","value":92,"unit":"million ordinary shares (dated or analyst allowance, NOT current exact FD)"},{"field":"3.recognizedRevenueHypothesis","value":70,"unit":"USD million"},{"field":"3.openingCash","value":84.45228000000002,"unit":"USD million"},{"field":"3.flows.operatingCashBeforeWorkingCapital","value":18.806720000000002,"unit":"USD million"},{"field":"3.flows.workingCapitalCash","value":-4.5,"unit":"USD million"},{"field":"3.flows.cashPPE","value":-1.0,"unit":"USD million"},{"field":"3.flows.softwareCash","value":-0.0,"unit":"USD million"},{"field":"3.flows.acquisitionCash","value":0,"unit":"USD million"},{"field":"3.flows.ordinaryBuybackCash","value":-0.0,"unit":"USD million"},{"field":"3.flows.cashDistributions","value":-0.0,"unit":"USD million"},{"field":"3.flows.employeeTaxWithholdingCash","value":-0.75,"unit":"USD million"},{"field":"3.flows.employeePlanProceedsFinancing","value":0.55,"unit":"million ordinary shares (dated or analyst allowance, NOT current exact FD)"},{"field":"3.flows.debtRaised","value":0.0,"unit":"million ordinary shares (dated or analyst allowance, NOT current exact FD)"},{"field":"3.flows.debtPrincipalRepaid","value":-0.0,"unit":"million ordinary shares (dated or analyst allowance, NOT current exact FD)"},{"field":"3.flows.extraStressUse","value":0,"unit":"million ordinary shares (dated or analyst allowance, NOT current exact FD)"},{"field":"3.endingCashBeforeTargetExercises","value":97.55900000000003,"unit":"USD million"},{"field":"3.endingDebt","value":0.0,"unit":"million ordinary shares (dated or analyst allowance, NOT current exact FD)"},{"field":"3.noncashAddbackRemovedUSDm","value":2.56,"unit":"USD million"},{"field":"3.liabilityTimingCashAdjustmentUSDm","value":2.56,"unit":"USD million"},{"field":"3.cashCompensationPaymentUSDm","value":0.0,"unit":"USD million"},{"field":"3.cashCostCountedOnceNetChangeUSDm","value":0.0,"unit":"USD million"}] USD million for signed cash/revenue values; period dates and quarter identifiers are header context, not monetary assumptions · forecast · Qualification Q76 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.additional5pctClaimShares; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2027-07-01 / 2027-09-30; EACH signed cash item shown, compensation net payment counted once. ·
matchedExpensePaymentAlternative 1 — signed cash/revenue/compensation reconciliation
[{"field":"0.quarter","value":1,"unit":"million ordinary shares (dated or analyst allowance, NOT current exact FD)"},{"field":"0.cashPaymentUSDm","value":1.44,"unit":"USD million"},{"field":"0.noncashAddbackRemovedUSDm","value":1.44,"unit":"USD million"},{"field":"0.liabilityTimingCashAdjustmentUSDm","value":0.0,"unit":"USD million"},{"field":"0.operativeEndingCashUSDm","value":89.02678000000002,"unit":"USD million"}] USD million for signed cash/revenue values; period dates and quarter identifiers are header context, not monetary assumptions · forecast · Qualification Q77 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.additional5pctClaimShares; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2026-10-01 / 2027-09-30; EACH signed cash item shown, compensation net payment counted once. ·
matchedExpensePaymentAlternative 2 — signed cash/revenue/compensation reconciliation
[{"field":"1.quarter","value":2,"unit":"million ordinary shares (dated or analyst allowance, NOT current exact FD)"},{"field":"1.cashPaymentUSDm","value":1.84,"unit":"USD million"},{"field":"1.noncashAddbackRemovedUSDm","value":1.84,"unit":"USD million"},{"field":"1.liabilityTimingCashAdjustmentUSDm","value":0.0,"unit":"USD million"},{"field":"1.operativeEndingCashUSDm","value":84.50411000000001,"unit":"USD million"}] USD million for signed cash/revenue values; period dates and quarter identifiers are header context, not monetary assumptions · forecast · Qualification Q77 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.additional5pctClaimShares; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2026-10-01 / 2027-09-30; EACH signed cash item shown, compensation net payment counted once. ·
matchedExpensePaymentAlternative 3 — signed cash/revenue/compensation reconciliation
[{"field":"2.quarter","value":3,"unit":"million ordinary shares (dated or analyst allowance, NOT current exact FD)"},{"field":"2.cashPaymentUSDm","value":2.16,"unit":"USD million"},{"field":"2.noncashAddbackRemovedUSDm","value":2.16,"unit":"USD million"},{"field":"2.liabilityTimingCashAdjustmentUSDm","value":0.0,"unit":"USD million"},{"field":"2.operativeEndingCashUSDm","value":87.01228000000002,"unit":"USD million"}] USD million for signed cash/revenue values; period dates and quarter identifiers are header context, not monetary assumptions · forecast · Qualification Q77 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.additional5pctClaimShares; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2026-10-01 / 2027-09-30; EACH signed cash item shown, compensation net payment counted once. ·
matchedExpensePaymentAlternative 4 — signed cash/revenue/compensation reconciliation
[{"field":"3.quarter","value":4,"unit":"million ordinary shares (dated or analyst allowance, NOT current exact FD)"},{"field":"3.cashPaymentUSDm","value":2.56,"unit":"USD million"},{"field":"3.noncashAddbackRemovedUSDm","value":2.56,"unit":"USD million"},{"field":"3.liabilityTimingCashAdjustmentUSDm","value":0.0,"unit":"USD million"},{"field":"3.operativeEndingCashUSDm","value":97.55900000000003,"unit":"USD million"}] USD million for signed cash/revenue values; period dates and quarter identifiers are header context, not monetary assumptions · forecast · Qualification Q77 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.additional5pctClaimShares; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2026-10-01 / 2027-09-30; EACH signed cash item shown, compensation net payment counted once. ·
Matched expense/payment — minimum available cash after existing timing reserve
64.50411000000001 USD million · forecast · Qualification Q33 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2027-09-30', 'basis': 'Original economic model inclusive365 days; archived native cashPeriodEnd may be anniversary endpoint and is not silently relabeled'} ·
Matched expense/payment — terminal cash before hypothetical exercises
97.55900000000003 USD million · forecast · Qualification Q33 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2027-09-30', 'basis': 'Original economic model inclusive365 days; archived native cashPeriodEnd may be anniversary endpoint and is not silently relabeled'} ·
Matched expense/payment Q1 — operativeEndingCashUSDm
89.02678000000002 USD million · forecast · Qualification Q34 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q1 — noncashAddbackRemovedUSDm
1.44 USD million · forecast · Qualification Q34 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q1 — liabilityTimingCashAdjustmentUSDm
0 USD million · forecast · Qualification Q34 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q1 — cashPaymentUSDm
1.44 USD million · forecast · Qualification Q34 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q1 — netCashChangeUSDm
-1.44 USD million · forecast · Qualification Q34 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q2 — operativeEndingCashUSDm
84.50411000000001 USD million · forecast · Qualification Q35 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q2 — noncashAddbackRemovedUSDm
1.84 USD million · forecast · Qualification Q35 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q2 — liabilityTimingCashAdjustmentUSDm
0 USD million · forecast · Qualification Q35 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q2 — cashPaymentUSDm
1.84 USD million · forecast · Qualification Q35 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q2 — netCashChangeUSDm
-1.84 USD million · forecast · Qualification Q35 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q3 — operativeEndingCashUSDm
87.01228000000002 USD million · forecast · Qualification Q36 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q3 — noncashAddbackRemovedUSDm
2.16 USD million · forecast · Qualification Q36 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q3 — liabilityTimingCashAdjustmentUSDm
0 USD million · forecast · Qualification Q36 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q3 — cashPaymentUSDm
2.16 USD million · forecast · Qualification Q36 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q3 — netCashChangeUSDm
-2.16 USD million · forecast · Qualification Q36 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q4 — operativeEndingCashUSDm
97.55900000000003 USD million · forecast · Qualification Q37 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q4 — noncashAddbackRemovedUSDm
2.56 USD million · forecast · Qualification Q37 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q4 — liabilityTimingCashAdjustmentUSDm
0 USD million · forecast · Qualification Q37 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q4 — cashPaymentUSDm
2.56 USD million · forecast · Qualification Q37 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q4 — netCashChangeUSDm
-2.56 USD million · forecast · Qualification Q37 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment — minimum available cash after existing timing reserve
59.78411000000001 USD million · forecast · Qualification Q33 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2027-09-30', 'basis': 'Original economic model inclusive365 days; archived native cashPeriodEnd may be anniversary endpoint and is not silently relabeled'} ·
Front-loaded cash/payment — terminal cash before hypothetical exercises
97.55900000000003 USD million · forecast · Qualification Q33 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2027-09-30', 'basis': 'Original economic model inclusive365 days; archived native cashPeriodEnd may be anniversary endpoint and is not silently relabeled'} ·
Front-loaded cash/payment Q1 — operativeEndingCashUSDm
82.46678000000001 USD million · forecast · Qualification Q38 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q1 — noncashAddbackRemovedUSDm
1.44 USD million · forecast · Qualification Q38 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q1 — liabilityTimingCashAdjustmentUSDm
-6.56 USD million · forecast · Qualification Q38 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q1 — cashPaymentUSDm
8 USD million · forecast · Qualification Q38 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q1 — netCashChangeUSDm
-8 USD million · forecast · Qualification Q38 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q2 — operativeEndingCashUSDm
79.78411000000001 USD million · forecast · Qualification Q39 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q2 — noncashAddbackRemovedUSDm
1.84 USD million · forecast · Qualification Q39 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q2 — liabilityTimingCashAdjustmentUSDm
1.84 USD million · forecast · Qualification Q39 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q2 — cashPaymentUSDm
0 USD million · forecast · Qualification Q39 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q2 — netCashChangeUSDm
0 USD million · forecast · Qualification Q39 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q3 — operativeEndingCashUSDm
84.45228000000002 USD million · forecast · Qualification Q40 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q3 — noncashAddbackRemovedUSDm
2.16 USD million · forecast · Qualification Q40 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q3 — liabilityTimingCashAdjustmentUSDm
2.16 USD million · forecast · Qualification Q40 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q3 — cashPaymentUSDm
0 USD million · forecast · Qualification Q40 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q3 — netCashChangeUSDm
0 USD million · forecast · Qualification Q40 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q4 — operativeEndingCashUSDm
97.55900000000003 USD million · forecast · Qualification Q41 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q4 — noncashAddbackRemovedUSDm
2.56 USD million · forecast · Qualification Q41 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q4 — liabilityTimingCashAdjustmentUSDm
2.56 USD million · forecast · Qualification Q41 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q4 — cashPaymentUSDm
0 USD million · forecast · Qualification Q41 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q4 — netCashChangeUSDm
0 USD million · forecast · Qualification Q41 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
frontLoadedCashUse — operative bounded cash · conditional-not-native-approval
Scenario period
2026-10-01 → 2027-09-30 · Original economic model inclusive365 days; archived native cashPeriodEnd may be anniversary endpoint and is not silently relabeled
0 — revenues
40 USD million · forecast · Qualification Q78 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.frontLoadedCashUse; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
1 — revenues
50 USD million · forecast · Qualification Q78 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.frontLoadedCashUse; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
2 — revenues
60 USD million · forecast · Qualification Q78 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.frontLoadedCashUse; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
3 — revenues
70 USD million · forecast · Qualification Q78 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.frontLoadedCashUse; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
adjusted Net Margin
0.25 fraction / ratio · forecast · Qualification Q78 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.frontLoadedCashUse; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
sbc
8 USD million · forecast · Qualification Q78 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.frontLoadedCashUse; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
amort
1.229 USD million · forecast · Qualification Q78 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.frontLoadedCashUse; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
da
5 USD million · forecast · Qualification Q78 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.frontLoadedCashUse; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
interest Net
3 USD million · forecast · Qualification Q78 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.frontLoadedCashUse; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
tax Rate
0.2 fraction / ratio · forecast · Qualification Q78 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.frontLoadedCashUse; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
wc
-45 USD million · forecast · Qualification Q78 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.frontLoadedCashUse; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
capex
10 USD million · forecast · Qualification Q78 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.frontLoadedCashUse; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
employee Proceeds
2.2 USD million · forecast · Qualification Q78 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.frontLoadedCashUse; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
employee Withholding
3 USD million · forecast · Qualification Q78 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.frontLoadedCashUse; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
shares
35 million ordinary shares (dated/weighted/analyst allowance as scoped) · forecast · Qualification Q78 below. Exact immutable field-origin/proof mapping retained. Dated or assumed opening/reference stock used in a conditional model, not a newly observed cash/share balance. Original factual measurement/assumption dates and historical source evidence remain unchanged; future model use is distinct from source measurement. Retained original row scope: Original analyst conditional sensitivities.frontLoadedCashUse; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
multiple
156.04490184213677 valuation multiple x · forecast · Qualification Q78 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.frontLoadedCashUse; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
recognized Revenue
220 USD million · forecast · Qualification Q78 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.frontLoadedCashUse; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
gaap EBIT
54.213750000000005 USD million · forecast · Qualification Q78 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.frontLoadedCashUse; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
gaap Operating Margin
0.2464261363636364 fraction / ratio · forecast · Qualification Q78 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.frontLoadedCashUse; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
pretax
57.213750000000005 USD million · forecast · Qualification Q78 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.frontLoadedCashUse; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
income Tax Expense
11.44275 USD million · forecast · Qualification Q78 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.frontLoadedCashUse; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
group NI
45.771 USD million · forecast · Qualification Q78 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.frontLoadedCashUse; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
Net income attributable to common — stated preferred treatment
45.771 USD million · forecast · Qualification Q78 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.frontLoadedCashUse; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
owner Income Diagnostic
45.771 USD million · forecast · Qualification Q78 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.frontLoadedCashUse; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
Noncash CFO addback — after cash-settlement component
5 USD million · forecast · Qualification Q78 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.frontLoadedCashUse; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
other Cfo
0 USD million · forecast · Qualification Q78 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.frontLoadedCashUse; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
working Capital Cash
-45 USD million · forecast · Qualification Q78 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.frontLoadedCashUse; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
Operating cash flow — stated period and case
5.771000000000001 USD million · forecast · Qualification Q78 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.frontLoadedCashUse; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
adjusted Net Income Hypothesis
55 USD million · forecast · Qualification Q78 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.frontLoadedCashUse; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
SBCExpense Charged No Tax Shield
8 USD million · forecast · Qualification Q78 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.frontLoadedCashUse; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
acquired Amort Charged No Tax Shield
1.229 USD million · forecast · Qualification Q78 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.frontLoadedCashUse; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
no Repeated FY26 Tax Benefit
true boolean qualification, not monetary measurement · not-applicable · Qualification Q78 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.frontLoadedCashUse; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
GAAPForecast Status
analyst GAAP-style reconciliation, not issuer guidance. Historical SAR cash expense included within SBC allowance; extra target SAR cash tested separately. retained explanatory text · not-applicable · Qualification Q78 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.frontLoadedCashUse; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
opening Cash
102.58800000000001 USD million · forecast · Qualification Q78 below. Exact immutable field-origin/proof mapping retained. Dated or assumed opening/reference stock used in a conditional model, not a newly observed cash/share balance. Original factual measurement/assumption dates and historical source evidence remain unchanged; future model use is distinct from source measurement. Retained original row scope: Original analyst conditional sensitivities.frontLoadedCashUse; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
Terminal cash BEFORE hypothetical exercises
47.55900000000001 USD million · forecast · Qualification Q78 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.frontLoadedCashUse; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
terminal Cash Post Hypothetical Exercises
47.55900000000001 USD million · forecast · Qualification Q78 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.frontLoadedCashUse; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
terminal Debt
0 USD million · forecast · Qualification Q78 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.frontLoadedCashUse; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
terminal Ownership Claim
0 USD million · forecast · Qualification Q78 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.frontLoadedCashUse; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
quarter Boundary Minimum Pre Exercises
29.784110000000005 USD million · forecast · Qualification Q78 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.frontLoadedCashUse; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
intra Quarter Timing Reserve
20 USD million · forecast · Qualification Q78 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.frontLoadedCashUse; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
Minimum available cash — bounded analyst case
9.784110000000005 USD million · forecast · Qualification Q78 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.frontLoadedCashUse; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
policy Reserve Gap
0 USD million · forecast · Qualification Q78 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.frontLoadedCashUse; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
cash Funding Status
conditional-positive-under-stated-assumptions retained explanatory text · not-applicable · Qualification Q78 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.frontLoadedCashUse; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
ordinary M
32.62045 million ordinary shares (dated/weighted/analyst allowance as scoped) · forecast · Qualification Q78 below. Exact immutable field-origin/proof mapping retained. Dated or assumed opening/reference stock used in a conditional model, not a newly observed cash/share balance. Original factual measurement/assumption dates and historical source evidence remain unchanged; future model use is distinct from source measurement. Retained original row scope: Original analyst conditional sensitivities.frontLoadedCashUse; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
total Shares M
35 million ordinary shares (dated/weighted/analyst allowance as scoped) · forecast · Qualification Q78 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.frontLoadedCashUse; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
forward Incremental Allowance M
2.379550000000002 million ordinary shares (dated/weighted/analyst allowance as scoped) · forecast · Qualification Q78 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.frontLoadedCashUse; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
not Exact Fully Diluted
true boolean qualification, not monetary measurement · not-applicable · Qualification Q78 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.frontLoadedCashUse; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
exercise Cash USDm
0 USD million · forecast · Qualification Q78 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.frontLoadedCashUse; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
convertible Shares M
0 million ordinary shares (dated/weighted/analyst allowance as scoped) · forecast · Qualification Q78 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.frontLoadedCashUse; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
convertible Debt Removed
0 USD million · forecast · Qualification Q78 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.frontLoadedCashUse; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
conversion Cash Settlement
0 USD million · forecast · Qualification Q78 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.frontLoadedCashUse; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
conversion Price
Unknown (null) USD million · unknown · Qualification Q78 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
no Convert Treatment
none retained explanatory text · not-applicable · Qualification Q78 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.frontLoadedCashUse; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
applicability
source-reviewed no outstanding convertible financing in retained balance/debt notes; options/RSUs remain separate employee claims retained explanatory text · not-applicable · Qualification Q78 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.frontLoadedCashUse; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
terminal Shares M
35 million ordinary shares (dated/weighted/analyst allowance as scoped) · forecast · Qualification Q78 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.frontLoadedCashUse; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
terminal Multiple
156.04490184213677 valuation multiple x · forecast · Qualification Q78 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.frontLoadedCashUse; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
equity Pricing Identity
commonOwnerIncome*PE; no additive netcash/debt retained explanatory text · not-applicable · Qualification Q78 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.frontLoadedCashUse; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
terminal Equity USDm
7142.331202216442 USD million · forecast · Qualification Q78 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.frontLoadedCashUse; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
Per-share scenario price — unchanged
204.06660577761264 USD/share · forecast · Qualification Q78 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.frontLoadedCashUse; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
price Ratio
2.0085296145904095 fraction / ratio · forecast · Qualification Q78 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.frontLoadedCashUse; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
GAAPCommon PEContext
156.04490184213677 valuation multiple x · forecast · Qualification Q78 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.frontLoadedCashUse; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
no Warrant Cash In Trough
true boolean qualification, not monetary measurement · not-applicable · Qualification Q78 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.frontLoadedCashUse; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
not Observed Daily Cash
true boolean qualification, not monetary measurement · not-applicable · Qualification Q78 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.frontLoadedCashUse; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
0 — operativeCashComponentRangeUSDm
0 USD million · forecast · Qualification Q78 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.frontLoadedCashUse; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
1 — operativeCashComponentRangeUSDm
8 USD million · forecast · Qualification Q78 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.frontLoadedCashUse; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
cash Endpoint Convention
c=upper existing expense budget, frontloaded within horizon for displayed operative cash;0cash/all-noncash and matched/delayed endpoints in separately bounded proof below retained explanatory text · not-applicable · Qualification Q78 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.frontLoadedCashUse; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
bound Conditions
If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. retained explanatory text · not-applicable · Qualification Q78 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.frontLoadedCashUse; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
minimum Bound Includes Original Timing Reserve
true boolean qualification, not monetary measurement · not-applicable · Qualification Q78 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.frontLoadedCashUse; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
operativeQuarter 1 — signed cash/revenue/compensation reconciliation
[{"field":"0.quarter","value":1,"unit":"quarter index"},{"field":"0.periodStart","value":"2026-10-01","unit":"retained explanatory text"},{"field":"0.periodEnd","value":"2026-12-31","unit":"retained explanatory text"},{"field":"0.inclusiveDays","value":92,"unit":"USD million"},{"field":"0.recognizedRevenueHypothesis","value":40,"unit":"USD million"},{"field":"0.openingCash","value":102.58800000000001,"unit":"USD million"},{"field":"0.flows.operatingCashBeforeWorkingCapital","value":2.57878,"unit":"USD million"},{"field":"0.flows.workingCapitalCash","value":-18.0,"unit":"USD million"},{"field":"0.flows.cashPPE","value":-4.5,"unit":"USD million"},{"field":"0.flows.softwareCash","value":-0.0,"unit":"USD million"},{"field":"0.flows.acquisitionCash","value":-0.0,"unit":"USD million"},{"field":"0.flows.ordinaryBuybackCash","value":-0.0,"unit":"USD million"},{"field":"0.flows.cashDistributions","value":-0.0,"unit":"USD million"},{"field":"0.flows.employeeTaxWithholdingCash","value":-0.75,"unit":"USD million"},{"field":"0.flows.employeePlanProceedsFinancing","value":0.55,"unit":"USD million"},{"field":"0.flows.debtRaised","value":0.0,"unit":"USD million"},{"field":"0.flows.debtPrincipalRepaid","value":-0.0,"unit":"USD million"},{"field":"0.flows.extraStressUse","value":-50,"unit":"USD million"},{"field":"0.endingCashBeforeTargetExercises","value":32.46678000000001,"unit":"USD million"},{"field":"0.endingDebt","value":0.0,"unit":"USD million"},{"field":"0.noncashAddbackRemovedUSDm","value":1.44,"unit":"USD million"},{"field":"0.liabilityTimingCashAdjustmentUSDm","value":-6.56,"unit":"USD million"},{"field":"0.cashCompensationPaymentUSDm","value":8.0,"unit":"USD million"},{"field":"0.cashCostCountedOnceNetChangeUSDm","value":-8.0,"unit":"USD million"}] USD million for signed cash/revenue values; period dates and quarter identifiers are header context, not monetary assumptions · forecast · Qualification Q79 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.frontLoadedCashUse; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2026-10-01 / 2026-12-31; EACH signed cash item shown, compensation net payment counted once. ·
operativeQuarter 2 — signed cash/revenue/compensation reconciliation
[{"field":"1.quarter","value":2,"unit":"quarter index"},{"field":"1.periodStart","value":"2027-01-01","unit":"retained explanatory text"},{"field":"1.periodEnd","value":"2027-03-31","unit":"retained explanatory text"},{"field":"1.inclusiveDays","value":90,"unit":"USD million"},{"field":"1.recognizedRevenueHypothesis","value":50,"unit":"USD million"},{"field":"1.openingCash","value":32.46678000000001,"unit":"USD million"},{"field":"1.flows.operatingCashBeforeWorkingCapital","value":13.517330000000001,"unit":"USD million"},{"field":"1.flows.workingCapitalCash","value":-13.5,"unit":"USD million"},{"field":"1.flows.cashPPE","value":-2.5,"unit":"USD million"},{"field":"1.flows.softwareCash","value":-0.0,"unit":"USD million"},{"field":"1.flows.acquisitionCash","value":-0.0,"unit":"USD million"},{"field":"1.flows.ordinaryBuybackCash","value":-0.0,"unit":"USD million"},{"field":"1.flows.cashDistributions","value":-0.0,"unit":"USD million"},{"field":"1.flows.employeeTaxWithholdingCash","value":-0.75,"unit":"USD million"},{"field":"1.flows.employeePlanProceedsFinancing","value":0.55,"unit":"USD million"},{"field":"1.flows.debtRaised","value":0.0,"unit":"USD million"},{"field":"1.flows.debtPrincipalRepaid","value":-0.0,"unit":"USD million"},{"field":"1.flows.extraStressUse","value":0,"unit":"USD million"},{"field":"1.endingCashBeforeTargetExercises","value":29.784110000000005,"unit":"USD million"},{"field":"1.endingDebt","value":0.0,"unit":"USD million"},{"field":"1.noncashAddbackRemovedUSDm","value":1.84,"unit":"USD million"},{"field":"1.liabilityTimingCashAdjustmentUSDm","value":1.84,"unit":"USD million"},{"field":"1.cashCompensationPaymentUSDm","value":0.0,"unit":"USD million"},{"field":"1.cashCostCountedOnceNetChangeUSDm","value":0.0,"unit":"USD million"}] USD million for signed cash/revenue values; period dates and quarter identifiers are header context, not monetary assumptions · forecast · Qualification Q80 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.frontLoadedCashUse; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2027-01-01 / 2027-03-31; EACH signed cash item shown, compensation net payment counted once. ·
operativeQuarter 3 — signed cash/revenue/compensation reconciliation
[{"field":"2.quarter","value":3,"unit":"quarter index"},{"field":"2.periodStart","value":"2027-04-01","unit":"retained explanatory text"},{"field":"2.periodEnd","value":"2027-06-30","unit":"retained explanatory text"},{"field":"2.inclusiveDays","value":91,"unit":"USD million"},{"field":"2.recognizedRevenueHypothesis","value":60,"unit":"USD million"},{"field":"2.openingCash","value":29.784110000000005,"unit":"USD million"},{"field":"2.flows.operatingCashBeforeWorkingCapital","value":15.868170000000001,"unit":"USD million"},{"field":"2.flows.workingCapitalCash","value":-9.0,"unit":"USD million"},{"field":"2.flows.cashPPE","value":-2.0,"unit":"USD million"},{"field":"2.flows.softwareCash","value":-0.0,"unit":"USD million"},{"field":"2.flows.acquisitionCash","value":-0.0,"unit":"USD million"},{"field":"2.flows.ordinaryBuybackCash","value":-0.0,"unit":"USD million"},{"field":"2.flows.cashDistributions","value":-0.0,"unit":"USD million"},{"field":"2.flows.employeeTaxWithholdingCash","value":-0.75,"unit":"USD million"},{"field":"2.flows.employeePlanProceedsFinancing","value":0.55,"unit":"USD million"},{"field":"2.flows.debtRaised","value":0.0,"unit":"USD million"},{"field":"2.flows.debtPrincipalRepaid","value":-0.0,"unit":"USD million"},{"field":"2.flows.extraStressUse","value":0,"unit":"USD million"},{"field":"2.endingCashBeforeTargetExercises","value":34.45228000000001,"unit":"USD million"},{"field":"2.endingDebt","value":0.0,"unit":"USD million"},{"field":"2.noncashAddbackRemovedUSDm","value":2.16,"unit":"USD million"},{"field":"2.liabilityTimingCashAdjustmentUSDm","value":2.16,"unit":"USD million"},{"field":"2.cashCompensationPaymentUSDm","value":0.0,"unit":"USD million"},{"field":"2.cashCostCountedOnceNetChangeUSDm","value":0.0,"unit":"USD million"}] USD million for signed cash/revenue values; period dates and quarter identifiers are header context, not monetary assumptions · forecast · Qualification Q81 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.frontLoadedCashUse; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2027-04-01 / 2027-06-30; EACH signed cash item shown, compensation net payment counted once. ·
operativeQuarter 4 — signed cash/revenue/compensation reconciliation
[{"field":"3.quarter","value":4,"unit":"quarter index"},{"field":"3.periodStart","value":"2027-07-01","unit":"retained explanatory text"},{"field":"3.periodEnd","value":"2027-09-30","unit":"retained explanatory text"},{"field":"3.inclusiveDays","value":92,"unit":"USD million"},{"field":"3.recognizedRevenueHypothesis","value":70,"unit":"USD million"},{"field":"3.openingCash","value":34.45228000000001,"unit":"USD million"},{"field":"3.flows.operatingCashBeforeWorkingCapital","value":18.806720000000002,"unit":"USD million"},{"field":"3.flows.workingCapitalCash","value":-4.5,"unit":"USD million"},{"field":"3.flows.cashPPE","value":-1.0,"unit":"USD million"},{"field":"3.flows.softwareCash","value":-0.0,"unit":"USD million"},{"field":"3.flows.acquisitionCash","value":0,"unit":"USD million"},{"field":"3.flows.ordinaryBuybackCash","value":-0.0,"unit":"USD million"},{"field":"3.flows.cashDistributions","value":-0.0,"unit":"USD million"},{"field":"3.flows.employeeTaxWithholdingCash","value":-0.75,"unit":"USD million"},{"field":"3.flows.employeePlanProceedsFinancing","value":0.55,"unit":"USD million"},{"field":"3.flows.debtRaised","value":0.0,"unit":"USD million"},{"field":"3.flows.debtPrincipalRepaid","value":-0.0,"unit":"USD million"},{"field":"3.flows.extraStressUse","value":0,"unit":"USD million"},{"field":"3.endingCashBeforeTargetExercises","value":47.55900000000001,"unit":"USD million"},{"field":"3.endingDebt","value":0.0,"unit":"USD million"},{"field":"3.noncashAddbackRemovedUSDm","value":2.56,"unit":"USD million"},{"field":"3.liabilityTimingCashAdjustmentUSDm","value":2.56,"unit":"USD million"},{"field":"3.cashCompensationPaymentUSDm","value":0.0,"unit":"USD million"},{"field":"3.cashCostCountedOnceNetChangeUSDm","value":0.0,"unit":"USD million"}] USD million for signed cash/revenue values; period dates and quarter identifiers are header context, not monetary assumptions · forecast · Qualification Q82 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.frontLoadedCashUse; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2027-07-01 / 2027-09-30; EACH signed cash item shown, compensation net payment counted once. ·
matchedExpensePaymentAlternative 1 — signed cash/revenue/compensation reconciliation
[{"field":"0.quarter","value":1,"unit":"quarter index"},{"field":"0.cashPaymentUSDm","value":1.44,"unit":"USD million"},{"field":"0.noncashAddbackRemovedUSDm","value":1.44,"unit":"USD million"},{"field":"0.liabilityTimingCashAdjustmentUSDm","value":0.0,"unit":"USD million"},{"field":"0.operativeEndingCashUSDm","value":39.02678000000001,"unit":"USD million"}] USD million for signed cash/revenue values; period dates and quarter identifiers are header context, not monetary assumptions · forecast · Qualification Q83 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.frontLoadedCashUse; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2026-10-01 / 2027-09-30; EACH signed cash item shown, compensation net payment counted once. ·
matchedExpensePaymentAlternative 2 — signed cash/revenue/compensation reconciliation
[{"field":"1.quarter","value":2,"unit":"quarter index"},{"field":"1.cashPaymentUSDm","value":1.84,"unit":"USD million"},{"field":"1.noncashAddbackRemovedUSDm","value":1.84,"unit":"USD million"},{"field":"1.liabilityTimingCashAdjustmentUSDm","value":0.0,"unit":"USD million"},{"field":"1.operativeEndingCashUSDm","value":34.504110000000004,"unit":"USD million"}] USD million for signed cash/revenue values; period dates and quarter identifiers are header context, not monetary assumptions · forecast · Qualification Q83 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.frontLoadedCashUse; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2026-10-01 / 2027-09-30; EACH signed cash item shown, compensation net payment counted once. ·
matchedExpensePaymentAlternative 3 — signed cash/revenue/compensation reconciliation
[{"field":"2.quarter","value":3,"unit":"quarter index"},{"field":"2.cashPaymentUSDm","value":2.16,"unit":"USD million"},{"field":"2.noncashAddbackRemovedUSDm","value":2.16,"unit":"USD million"},{"field":"2.liabilityTimingCashAdjustmentUSDm","value":0.0,"unit":"USD million"},{"field":"2.operativeEndingCashUSDm","value":37.01228000000001,"unit":"USD million"}] USD million for signed cash/revenue values; period dates and quarter identifiers are header context, not monetary assumptions · forecast · Qualification Q83 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.frontLoadedCashUse; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2026-10-01 / 2027-09-30; EACH signed cash item shown, compensation net payment counted once. ·
matchedExpensePaymentAlternative 4 — signed cash/revenue/compensation reconciliation
[{"field":"3.quarter","value":4,"unit":"quarter index"},{"field":"3.cashPaymentUSDm","value":2.56,"unit":"USD million"},{"field":"3.noncashAddbackRemovedUSDm","value":2.56,"unit":"USD million"},{"field":"3.liabilityTimingCashAdjustmentUSDm","value":0.0,"unit":"USD million"},{"field":"3.operativeEndingCashUSDm","value":47.55900000000001,"unit":"USD million"}] USD million for signed cash/revenue values; period dates and quarter identifiers are header context, not monetary assumptions · forecast · Qualification Q83 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.frontLoadedCashUse; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2026-10-01 / 2027-09-30; EACH signed cash item shown, compensation net payment counted once. ·
Matched expense/payment — minimum available cash after existing timing reserve
14.504110000000004 USD million · forecast · Qualification Q33 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2027-09-30', 'basis': 'Original economic model inclusive365 days; archived native cashPeriodEnd may be anniversary endpoint and is not silently relabeled'} ·
Matched expense/payment — terminal cash before hypothetical exercises
47.55900000000001 USD million · forecast · Qualification Q33 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2027-09-30', 'basis': 'Original economic model inclusive365 days; archived native cashPeriodEnd may be anniversary endpoint and is not silently relabeled'} ·
Matched expense/payment Q1 — operativeEndingCashUSDm
39.02678000000001 USD million · forecast · Qualification Q34 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q1 — noncashAddbackRemovedUSDm
1.44 USD million · forecast · Qualification Q34 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q1 — liabilityTimingCashAdjustmentUSDm
0 USD million · forecast · Qualification Q34 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q1 — cashPaymentUSDm
1.44 USD million · forecast · Qualification Q34 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q1 — netCashChangeUSDm
-1.44 USD million · forecast · Qualification Q34 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q2 — operativeEndingCashUSDm
34.504110000000004 USD million · forecast · Qualification Q35 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q2 — noncashAddbackRemovedUSDm
1.84 USD million · forecast · Qualification Q35 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q2 — liabilityTimingCashAdjustmentUSDm
0 USD million · forecast · Qualification Q35 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q2 — cashPaymentUSDm
1.84 USD million · forecast · Qualification Q35 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q2 — netCashChangeUSDm
-1.84 USD million · forecast · Qualification Q35 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q3 — operativeEndingCashUSDm
37.01228000000001 USD million · forecast · Qualification Q36 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q3 — noncashAddbackRemovedUSDm
2.16 USD million · forecast · Qualification Q36 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q3 — liabilityTimingCashAdjustmentUSDm
0 USD million · forecast · Qualification Q36 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q3 — cashPaymentUSDm
2.16 USD million · forecast · Qualification Q36 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q3 — netCashChangeUSDm
-2.16 USD million · forecast · Qualification Q36 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q4 — operativeEndingCashUSDm
47.55900000000001 USD million · forecast · Qualification Q37 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q4 — noncashAddbackRemovedUSDm
2.56 USD million · forecast · Qualification Q37 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q4 — liabilityTimingCashAdjustmentUSDm
0 USD million · forecast · Qualification Q37 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q4 — cashPaymentUSDm
2.56 USD million · forecast · Qualification Q37 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q4 — netCashChangeUSDm
-2.56 USD million · forecast · Qualification Q37 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment — minimum available cash after existing timing reserve
9.784110000000005 USD million · forecast · Qualification Q33 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2027-09-30', 'basis': 'Original economic model inclusive365 days; archived native cashPeriodEnd may be anniversary endpoint and is not silently relabeled'} ·
Front-loaded cash/payment — terminal cash before hypothetical exercises
47.55900000000001 USD million · forecast · Qualification Q33 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2027-09-30', 'basis': 'Original economic model inclusive365 days; archived native cashPeriodEnd may be anniversary endpoint and is not silently relabeled'} ·
Front-loaded cash/payment Q1 — operativeEndingCashUSDm
32.46678000000001 USD million · forecast · Qualification Q38 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q1 — noncashAddbackRemovedUSDm
1.44 USD million · forecast · Qualification Q38 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q1 — liabilityTimingCashAdjustmentUSDm
-6.56 USD million · forecast · Qualification Q38 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q1 — cashPaymentUSDm
8 USD million · forecast · Qualification Q38 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q1 — netCashChangeUSDm
-8 USD million · forecast · Qualification Q38 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q2 — operativeEndingCashUSDm
29.784110000000005 USD million · forecast · Qualification Q39 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q2 — noncashAddbackRemovedUSDm
1.84 USD million · forecast · Qualification Q39 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q2 — liabilityTimingCashAdjustmentUSDm
1.84 USD million · forecast · Qualification Q39 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q2 — cashPaymentUSDm
0 USD million · forecast · Qualification Q39 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q2 — netCashChangeUSDm
0 USD million · forecast · Qualification Q39 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q3 — operativeEndingCashUSDm
34.45228000000001 USD million · forecast · Qualification Q40 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q3 — noncashAddbackRemovedUSDm
2.16 USD million · forecast · Qualification Q40 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q3 — liabilityTimingCashAdjustmentUSDm
2.16 USD million · forecast · Qualification Q40 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q3 — cashPaymentUSDm
0 USD million · forecast · Qualification Q40 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q3 — netCashChangeUSDm
0 USD million · forecast · Qualification Q40 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q4 — operativeEndingCashUSDm
47.55900000000001 USD million · forecast · Qualification Q41 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q4 — noncashAddbackRemovedUSDm
2.56 USD million · forecast · Qualification Q41 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q4 — liabilityTimingCashAdjustmentUSDm
2.56 USD million · forecast · Qualification Q41 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q4 — cashPaymentUSDm
0 USD million · forecast · Qualification Q41 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q4 — netCashChangeUSDm
0 USD million · forecast · Qualification Q41 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
combinedRevenueMarginCashClaims — operative bounded cash · conditional-not-native-approval
Scenario period
2026-10-01 → 2027-09-30 · Original economic model inclusive365 days; archived native cashPeriodEnd may be anniversary endpoint and is not silently relabeled
0 — revenues
32 fraction / ratio · forecast · Qualification Q84 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.combinedRevenueMarginCashClaims; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
1 — revenues
40 fraction / ratio · forecast · Qualification Q84 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.combinedRevenueMarginCashClaims; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
2 — revenues
48 fraction / ratio · forecast · Qualification Q84 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.combinedRevenueMarginCashClaims; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
3 — revenues
56 fraction / ratio · forecast · Qualification Q84 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.combinedRevenueMarginCashClaims; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
adjusted Net Margin
0.22 fraction / ratio · forecast · Qualification Q84 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.combinedRevenueMarginCashClaims; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
sbc
8 fraction / ratio · forecast · Qualification Q84 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.combinedRevenueMarginCashClaims; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
amort
1.229 fraction / ratio · forecast · Qualification Q84 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.combinedRevenueMarginCashClaims; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
da
5 fraction / ratio · forecast · Qualification Q84 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.combinedRevenueMarginCashClaims; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
interest Net
3 fraction / ratio · forecast · Qualification Q84 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.combinedRevenueMarginCashClaims; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
tax Rate
0.2 fraction / ratio · forecast · Qualification Q84 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.combinedRevenueMarginCashClaims; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
wc
-45 fraction / ratio · forecast · Qualification Q84 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.combinedRevenueMarginCashClaims; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
capex
10 USD million · forecast · Qualification Q84 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.combinedRevenueMarginCashClaims; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
employee Proceeds
2.2 fraction / ratio · forecast · Qualification Q84 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.combinedRevenueMarginCashClaims; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
employee Withholding
3 fraction / ratio · forecast · Qualification Q84 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.combinedRevenueMarginCashClaims; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
shares
35 million ordinary shares (dated/weighted/analyst allowance as scoped) · forecast · Qualification Q84 below. Exact immutable field-origin/proof mapping retained. Dated or assumed opening/reference stock used in a conditional model, not a newly observed cash/share balance. Original factual measurement/assumption dates and historical source evidence remain unchanged; future model use is distinct from source measurement. Retained original row scope: Original analyst conditional sensitivities.combinedRevenueMarginCashClaims; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
multiple
156.04490184213677 valuation multiple x · forecast · Qualification Q84 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.combinedRevenueMarginCashClaims; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
recognized Revenue
176 USD million · forecast · Qualification Q84 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.combinedRevenueMarginCashClaims; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
gaap EBIT
33.863749999999996 USD million · forecast · Qualification Q84 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.combinedRevenueMarginCashClaims; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
gaap Operating Margin
0.19240767045454543 fraction / ratio · forecast · Qualification Q84 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.combinedRevenueMarginCashClaims; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
pretax
36.863749999999996 USD million · forecast · Qualification Q84 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.combinedRevenueMarginCashClaims; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
income Tax Expense
7.37275 USD million · forecast · Qualification Q84 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.combinedRevenueMarginCashClaims; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
group NI
29.491 USD million · forecast · Qualification Q84 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.combinedRevenueMarginCashClaims; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
Net income attributable to common — stated preferred treatment
29.491 USD million · forecast · Qualification Q84 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.combinedRevenueMarginCashClaims; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
owner Income Diagnostic
29.491 USD million · forecast · Qualification Q84 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.combinedRevenueMarginCashClaims; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
Noncash CFO addback — after cash-settlement component
5 USD million · forecast · Qualification Q84 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.combinedRevenueMarginCashClaims; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
other Cfo
0 USD million · forecast · Qualification Q84 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.combinedRevenueMarginCashClaims; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
working Capital Cash
-45 USD million · forecast · Qualification Q84 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.combinedRevenueMarginCashClaims; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
Operating cash flow — stated period and case
-10.509 USD million · forecast · Qualification Q84 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.combinedRevenueMarginCashClaims; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
adjusted Net Income Hypothesis
38.72 fraction / ratio · forecast · Qualification Q84 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.combinedRevenueMarginCashClaims; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
SBCExpense Charged No Tax Shield
8 fraction / ratio · forecast · Qualification Q84 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.combinedRevenueMarginCashClaims; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
acquired Amort Charged No Tax Shield
1.229 fraction / ratio · forecast · Qualification Q84 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.combinedRevenueMarginCashClaims; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
no Repeated FY26 Tax Benefit
true boolean qualification, not monetary measurement · not-applicable · Qualification Q84 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.combinedRevenueMarginCashClaims; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
GAAPForecast Status
analyst GAAP-style reconciliation, not issuer guidance. Historical SAR cash expense included within SBC allowance; extra target SAR cash tested separately. retained explanatory text · not-applicable · Qualification Q84 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.combinedRevenueMarginCashClaims; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
opening Cash
102.58800000000001 USD million · forecast · Qualification Q84 below. Exact immutable field-origin/proof mapping retained. Dated or assumed opening/reference stock used in a conditional model, not a newly observed cash/share balance. Original factual measurement/assumption dates and historical source evidence remain unchanged; future model use is distinct from source measurement. Retained original row scope: Original analyst conditional sensitivities.combinedRevenueMarginCashClaims; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
Terminal cash BEFORE hypothetical exercises
31.27900000000001 USD million · forecast · Qualification Q84 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.combinedRevenueMarginCashClaims; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
terminal Cash Post Hypothetical Exercises
31.27900000000001 USD million · forecast · Qualification Q84 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.combinedRevenueMarginCashClaims; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
terminal Debt
0 fraction / ratio · forecast · Qualification Q84 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.combinedRevenueMarginCashClaims; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
terminal Ownership Claim
0 fraction / ratio · forecast · Qualification Q84 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.combinedRevenueMarginCashClaims; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
quarter Boundary Minimum Pre Exercises
23.109310000000008 fraction / ratio · forecast · Qualification Q84 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.combinedRevenueMarginCashClaims; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
intra Quarter Timing Reserve
20 fraction / ratio · forecast · Qualification Q84 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.combinedRevenueMarginCashClaims; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
Minimum available cash — bounded analyst case
3.109310000000008 USD million · forecast · Qualification Q84 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.combinedRevenueMarginCashClaims; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
policy Reserve Gap
0 fraction / ratio · forecast · Qualification Q84 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.combinedRevenueMarginCashClaims; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
cash Funding Status
conditional-positive-under-stated-assumptions retained explanatory text · not-applicable · Qualification Q84 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.combinedRevenueMarginCashClaims; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
ordinary M
32.62045 million ordinary shares (dated/weighted/analyst allowance as scoped) · forecast · Qualification Q84 below. Exact immutable field-origin/proof mapping retained. Dated or assumed opening/reference stock used in a conditional model, not a newly observed cash/share balance. Original factual measurement/assumption dates and historical source evidence remain unchanged; future model use is distinct from source measurement. Retained original row scope: Original analyst conditional sensitivities.combinedRevenueMarginCashClaims; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
total Shares M
35 million ordinary shares (dated/weighted/analyst allowance as scoped) · forecast · Qualification Q84 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.combinedRevenueMarginCashClaims; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
forward Incremental Allowance M
2.379550000000002 million ordinary shares (dated/weighted/analyst allowance as scoped) · forecast · Qualification Q84 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.combinedRevenueMarginCashClaims; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
not Exact Fully Diluted
true boolean qualification, not monetary measurement · not-applicable · Qualification Q84 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.combinedRevenueMarginCashClaims; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
exercise Cash USDm
0 USD million · forecast · Qualification Q84 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.combinedRevenueMarginCashClaims; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
convertible Shares M
0 million ordinary shares (dated/weighted/analyst allowance as scoped) · forecast · Qualification Q84 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.combinedRevenueMarginCashClaims; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
convertible Debt Removed
0 fraction / ratio · forecast · Qualification Q84 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.combinedRevenueMarginCashClaims; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
conversion Cash Settlement
0 USD million · forecast · Qualification Q84 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.combinedRevenueMarginCashClaims; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
conversion Price
Unknown (null) fraction / ratio · unknown · Qualification Q84 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
no Convert Treatment
none retained explanatory text · not-applicable · Qualification Q84 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.combinedRevenueMarginCashClaims; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
applicability
source-reviewed no outstanding convertible financing in retained balance/debt notes; options/RSUs remain separate employee claims retained explanatory text · not-applicable · Qualification Q84 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.combinedRevenueMarginCashClaims; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
terminal Shares M
36.75 million ordinary shares (dated/weighted/analyst allowance as scoped) · forecast · Qualification Q84 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.combinedRevenueMarginCashClaims; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
terminal Multiple
156.04490184213677 valuation multiple x · forecast · Qualification Q84 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.combinedRevenueMarginCashClaims; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
equity Pricing Identity
commonOwnerIncome*PE; no additive netcash/debt retained explanatory text · not-applicable · Qualification Q84 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.combinedRevenueMarginCashClaims; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
terminal Equity USDm
4601.920200226456 fraction / ratio · forecast · Qualification Q84 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.combinedRevenueMarginCashClaims; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
Per-share scenario price — unchanged
125.222318373509 USD/share · forecast · Qualification Q84 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.combinedRevenueMarginCashClaims; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
price Ratio
1.2325031521078698 fraction / ratio · forecast · Qualification Q84 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.combinedRevenueMarginCashClaims; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
GAAPCommon PEContext
156.04490184213677 valuation multiple x · forecast · Qualification Q84 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.combinedRevenueMarginCashClaims; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
no Warrant Cash In Trough
true boolean qualification, not monetary measurement · not-applicable · Qualification Q84 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.combinedRevenueMarginCashClaims; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
not Observed Daily Cash
true boolean qualification, not monetary measurement · not-applicable · Qualification Q84 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.combinedRevenueMarginCashClaims; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
0 — operativeCashComponentRangeUSDm
0 USD million · forecast · Qualification Q84 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.combinedRevenueMarginCashClaims; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
1 — operativeCashComponentRangeUSDm
8 USD million · forecast · Qualification Q84 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.combinedRevenueMarginCashClaims; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
cash Endpoint Convention
c=upper existing expense budget, frontloaded within horizon for displayed operative cash;0cash/all-noncash and matched/delayed endpoints in separately bounded proof below retained explanatory text · not-applicable · Qualification Q84 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.combinedRevenueMarginCashClaims; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
bound Conditions
If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. retained explanatory text · not-applicable · Qualification Q84 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.combinedRevenueMarginCashClaims; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
minimum Bound Includes Original Timing Reserve
true boolean qualification, not monetary measurement · not-applicable · Qualification Q84 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.combinedRevenueMarginCashClaims; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
operativeQuarter 1 — signed cash/revenue/compensation reconciliation
[{"field":"0.quarter","value":1,"unit":"fraction / ratio"},{"field":"0.periodStart","value":"2026-10-01","unit":"retained explanatory text"},{"field":"0.periodEnd","value":"2026-12-31","unit":"retained explanatory text"},{"field":"0.inclusiveDays","value":92,"unit":"fraction / ratio"},{"field":"0.recognizedRevenueHypothesis","value":32.0,"unit":"USD million"},{"field":"0.openingCash","value":102.58800000000001,"unit":"USD million"},{"field":"0.flows.operatingCashBeforeWorkingCapital","value":-0.3516200000000005,"unit":"USD million"},{"field":"0.flows.workingCapitalCash","value":-18.0,"unit":"USD million"},{"field":"0.flows.cashPPE","value":-4.5,"unit":"USD million"},{"field":"0.flows.softwareCash","value":-0.0,"unit":"USD million"},{"field":"0.flows.acquisitionCash","value":-0.0,"unit":"USD million"},{"field":"0.flows.ordinaryBuybackCash","value":-0.0,"unit":"USD million"},{"field":"0.flows.cashDistributions","value":-0.0,"unit":"USD million"},{"field":"0.flows.employeeTaxWithholdingCash","value":-0.75,"unit":"USD million"},{"field":"0.flows.employeePlanProceedsFinancing","value":0.55,"unit":"fraction / ratio"},{"field":"0.flows.debtRaised","value":0.0,"unit":"fraction / ratio"},{"field":"0.flows.debtPrincipalRepaid","value":-0.0,"unit":"fraction / ratio"},{"field":"0.flows.extraStressUse","value":-50,"unit":"fraction / ratio"},{"field":"0.endingCashBeforeTargetExercises","value":29.53638000000001,"unit":"USD million"},{"field":"0.endingDebt","value":0.0,"unit":"fraction / ratio"},{"field":"0.noncashAddbackRemovedUSDm","value":1.44,"unit":"USD million"},{"field":"0.liabilityTimingCashAdjustmentUSDm","value":-6.56,"unit":"USD million"},{"field":"0.cashCompensationPaymentUSDm","value":8.0,"unit":"USD million"},{"field":"0.cashCostCountedOnceNetChangeUSDm","value":-8.0,"unit":"USD million"}] USD million for signed cash/revenue values; period dates and quarter identifiers are header context, not monetary assumptions · forecast · Qualification Q85 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.combinedRevenueMarginCashClaims; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2026-10-01 / 2026-12-31; EACH signed cash item shown, compensation net payment counted once. ·
operativeQuarter 2 — signed cash/revenue/compensation reconciliation
[{"field":"1.quarter","value":2,"unit":"fraction / ratio"},{"field":"1.periodStart","value":"2027-01-01","unit":"retained explanatory text"},{"field":"1.periodEnd","value":"2027-03-31","unit":"retained explanatory text"},{"field":"1.inclusiveDays","value":90,"unit":"fraction / ratio"},{"field":"1.recognizedRevenueHypothesis","value":40.0,"unit":"USD million"},{"field":"1.openingCash","value":29.53638000000001,"unit":"USD million"},{"field":"1.flows.operatingCashBeforeWorkingCapital","value":9.77293,"unit":"USD million"},{"field":"1.flows.workingCapitalCash","value":-13.5,"unit":"USD million"},{"field":"1.flows.cashPPE","value":-2.5,"unit":"USD million"},{"field":"1.flows.softwareCash","value":-0.0,"unit":"USD million"},{"field":"1.flows.acquisitionCash","value":-0.0,"unit":"USD million"},{"field":"1.flows.ordinaryBuybackCash","value":-0.0,"unit":"USD million"},{"field":"1.flows.cashDistributions","value":-0.0,"unit":"USD million"},{"field":"1.flows.employeeTaxWithholdingCash","value":-0.75,"unit":"USD million"},{"field":"1.flows.employeePlanProceedsFinancing","value":0.55,"unit":"fraction / ratio"},{"field":"1.flows.debtRaised","value":0.0,"unit":"fraction / ratio"},{"field":"1.flows.debtPrincipalRepaid","value":-0.0,"unit":"fraction / ratio"},{"field":"1.flows.extraStressUse","value":0,"unit":"fraction / ratio"},{"field":"1.endingCashBeforeTargetExercises","value":23.109310000000008,"unit":"USD million"},{"field":"1.endingDebt","value":0.0,"unit":"fraction / ratio"},{"field":"1.noncashAddbackRemovedUSDm","value":1.84,"unit":"USD million"},{"field":"1.liabilityTimingCashAdjustmentUSDm","value":1.84,"unit":"USD million"},{"field":"1.cashCompensationPaymentUSDm","value":0.0,"unit":"USD million"},{"field":"1.cashCostCountedOnceNetChangeUSDm","value":0.0,"unit":"USD million"}] USD million for signed cash/revenue values; period dates and quarter identifiers are header context, not monetary assumptions · forecast · Qualification Q86 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.combinedRevenueMarginCashClaims; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2027-01-01 / 2027-03-31; EACH signed cash item shown, compensation net payment counted once. ·
operativeQuarter 3 — signed cash/revenue/compensation reconciliation
[{"field":"2.quarter","value":3,"unit":"fraction / ratio"},{"field":"2.periodStart","value":"2027-04-01","unit":"retained explanatory text"},{"field":"2.periodEnd","value":"2027-06-30","unit":"retained explanatory text"},{"field":"2.inclusiveDays","value":91,"unit":"fraction / ratio"},{"field":"2.recognizedRevenueHypothesis","value":48.0,"unit":"USD million"},{"field":"2.openingCash","value":23.109310000000008,"unit":"USD million"},{"field":"2.flows.operatingCashBeforeWorkingCapital","value":11.472570000000001,"unit":"USD million"},{"field":"2.flows.workingCapitalCash","value":-9.0,"unit":"USD million"},{"field":"2.flows.cashPPE","value":-2.0,"unit":"USD million"},{"field":"2.flows.softwareCash","value":-0.0,"unit":"USD million"},{"field":"2.flows.acquisitionCash","value":-0.0,"unit":"USD million"},{"field":"2.flows.ordinaryBuybackCash","value":-0.0,"unit":"USD million"},{"field":"2.flows.cashDistributions","value":-0.0,"unit":"USD million"},{"field":"2.flows.employeeTaxWithholdingCash","value":-0.75,"unit":"USD million"},{"field":"2.flows.employeePlanProceedsFinancing","value":0.55,"unit":"fraction / ratio"},{"field":"2.flows.debtRaised","value":0.0,"unit":"fraction / ratio"},{"field":"2.flows.debtPrincipalRepaid","value":-0.0,"unit":"fraction / ratio"},{"field":"2.flows.extraStressUse","value":0,"unit":"fraction / ratio"},{"field":"2.endingCashBeforeTargetExercises","value":23.38188000000001,"unit":"USD million"},{"field":"2.endingDebt","value":0.0,"unit":"fraction / ratio"},{"field":"2.noncashAddbackRemovedUSDm","value":2.16,"unit":"USD million"},{"field":"2.liabilityTimingCashAdjustmentUSDm","value":2.16,"unit":"USD million"},{"field":"2.cashCompensationPaymentUSDm","value":0.0,"unit":"USD million"},{"field":"2.cashCostCountedOnceNetChangeUSDm","value":0.0,"unit":"USD million"}] USD million for signed cash/revenue values; period dates and quarter identifiers are header context, not monetary assumptions · forecast · Qualification Q87 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.combinedRevenueMarginCashClaims; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2027-04-01 / 2027-06-30; EACH signed cash item shown, compensation net payment counted once. ·
operativeQuarter 4 — signed cash/revenue/compensation reconciliation
[{"field":"3.quarter","value":4,"unit":"fraction / ratio"},{"field":"3.periodStart","value":"2027-07-01","unit":"retained explanatory text"},{"field":"3.periodEnd","value":"2027-09-30","unit":"retained explanatory text"},{"field":"3.inclusiveDays","value":92,"unit":"fraction / ratio"},{"field":"3.recognizedRevenueHypothesis","value":56.0,"unit":"USD million"},{"field":"3.openingCash","value":23.38188000000001,"unit":"USD million"},{"field":"3.flows.operatingCashBeforeWorkingCapital","value":13.59712,"unit":"USD million"},{"field":"3.flows.workingCapitalCash","value":-4.5,"unit":"USD million"},{"field":"3.flows.cashPPE","value":-1.0,"unit":"USD million"},{"field":"3.flows.softwareCash","value":-0.0,"unit":"USD million"},{"field":"3.flows.acquisitionCash","value":0,"unit":"USD million"},{"field":"3.flows.ordinaryBuybackCash","value":-0.0,"unit":"USD million"},{"field":"3.flows.cashDistributions","value":-0.0,"unit":"USD million"},{"field":"3.flows.employeeTaxWithholdingCash","value":-0.75,"unit":"USD million"},{"field":"3.flows.employeePlanProceedsFinancing","value":0.55,"unit":"fraction / ratio"},{"field":"3.flows.debtRaised","value":0.0,"unit":"fraction / ratio"},{"field":"3.flows.debtPrincipalRepaid","value":-0.0,"unit":"fraction / ratio"},{"field":"3.flows.extraStressUse","value":0,"unit":"fraction / ratio"},{"field":"3.endingCashBeforeTargetExercises","value":31.27900000000001,"unit":"USD million"},{"field":"3.endingDebt","value":0.0,"unit":"fraction / ratio"},{"field":"3.noncashAddbackRemovedUSDm","value":2.56,"unit":"USD million"},{"field":"3.liabilityTimingCashAdjustmentUSDm","value":2.56,"unit":"USD million"},{"field":"3.cashCompensationPaymentUSDm","value":0.0,"unit":"USD million"},{"field":"3.cashCostCountedOnceNetChangeUSDm","value":0.0,"unit":"USD million"}] USD million for signed cash/revenue values; period dates and quarter identifiers are header context, not monetary assumptions · forecast · Qualification Q88 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.combinedRevenueMarginCashClaims; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2027-07-01 / 2027-09-30; EACH signed cash item shown, compensation net payment counted once. ·
matchedExpensePaymentAlternative 1 — signed cash/revenue/compensation reconciliation
[{"field":"0.quarter","value":1,"unit":"fraction / ratio"},{"field":"0.cashPaymentUSDm","value":1.44,"unit":"USD million"},{"field":"0.noncashAddbackRemovedUSDm","value":1.44,"unit":"USD million"},{"field":"0.liabilityTimingCashAdjustmentUSDm","value":0.0,"unit":"USD million"},{"field":"0.operativeEndingCashUSDm","value":36.09638000000001,"unit":"USD million"}] USD million for signed cash/revenue values; period dates and quarter identifiers are header context, not monetary assumptions · forecast · Qualification Q89 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.combinedRevenueMarginCashClaims; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2026-10-01 / 2027-09-30; EACH signed cash item shown, compensation net payment counted once. ·
matchedExpensePaymentAlternative 2 — signed cash/revenue/compensation reconciliation
[{"field":"1.quarter","value":2,"unit":"fraction / ratio"},{"field":"1.cashPaymentUSDm","value":1.84,"unit":"USD million"},{"field":"1.noncashAddbackRemovedUSDm","value":1.84,"unit":"USD million"},{"field":"1.liabilityTimingCashAdjustmentUSDm","value":0.0,"unit":"USD million"},{"field":"1.operativeEndingCashUSDm","value":27.829310000000007,"unit":"USD million"}] USD million for signed cash/revenue values; period dates and quarter identifiers are header context, not monetary assumptions · forecast · Qualification Q89 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.combinedRevenueMarginCashClaims; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2026-10-01 / 2027-09-30; EACH signed cash item shown, compensation net payment counted once. ·
matchedExpensePaymentAlternative 3 — signed cash/revenue/compensation reconciliation
[{"field":"2.quarter","value":3,"unit":"fraction / ratio"},{"field":"2.cashPaymentUSDm","value":2.16,"unit":"USD million"},{"field":"2.noncashAddbackRemovedUSDm","value":2.16,"unit":"USD million"},{"field":"2.liabilityTimingCashAdjustmentUSDm","value":0.0,"unit":"USD million"},{"field":"2.operativeEndingCashUSDm","value":25.94188000000001,"unit":"USD million"}] USD million for signed cash/revenue values; period dates and quarter identifiers are header context, not monetary assumptions · forecast · Qualification Q89 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.combinedRevenueMarginCashClaims; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2026-10-01 / 2027-09-30; EACH signed cash item shown, compensation net payment counted once. ·
matchedExpensePaymentAlternative 4 — signed cash/revenue/compensation reconciliation
[{"field":"3.quarter","value":4,"unit":"fraction / ratio"},{"field":"3.cashPaymentUSDm","value":2.56,"unit":"USD million"},{"field":"3.noncashAddbackRemovedUSDm","value":2.56,"unit":"USD million"},{"field":"3.liabilityTimingCashAdjustmentUSDm","value":0.0,"unit":"USD million"},{"field":"3.operativeEndingCashUSDm","value":31.27900000000001,"unit":"USD million"}] USD million for signed cash/revenue values; period dates and quarter identifiers are header context, not monetary assumptions · forecast · Qualification Q89 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.combinedRevenueMarginCashClaims; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2026-10-01 / 2027-09-30; EACH signed cash item shown, compensation net payment counted once. ·
Matched expense/payment — minimum available cash after existing timing reserve
5.94188000000001 USD million · forecast · Qualification Q33 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2027-09-30', 'basis': 'Original economic model inclusive365 days; archived native cashPeriodEnd may be anniversary endpoint and is not silently relabeled'} ·
Matched expense/payment — terminal cash before hypothetical exercises
31.27900000000001 USD million · forecast · Qualification Q33 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2027-09-30', 'basis': 'Original economic model inclusive365 days; archived native cashPeriodEnd may be anniversary endpoint and is not silently relabeled'} ·
Matched expense/payment Q1 — operativeEndingCashUSDm
36.09638000000001 USD million · forecast · Qualification Q34 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q1 — noncashAddbackRemovedUSDm
1.44 USD million · forecast · Qualification Q34 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q1 — liabilityTimingCashAdjustmentUSDm
0 USD million · forecast · Qualification Q34 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q1 — cashPaymentUSDm
1.44 USD million · forecast · Qualification Q34 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q1 — netCashChangeUSDm
-1.44 USD million · forecast · Qualification Q34 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q2 — operativeEndingCashUSDm
27.829310000000007 USD million · forecast · Qualification Q35 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q2 — noncashAddbackRemovedUSDm
1.84 USD million · forecast · Qualification Q35 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q2 — liabilityTimingCashAdjustmentUSDm
0 USD million · forecast · Qualification Q35 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q2 — cashPaymentUSDm
1.84 USD million · forecast · Qualification Q35 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q2 — netCashChangeUSDm
-1.84 USD million · forecast · Qualification Q35 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q3 — operativeEndingCashUSDm
25.94188000000001 USD million · forecast · Qualification Q36 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q3 — noncashAddbackRemovedUSDm
2.16 USD million · forecast · Qualification Q36 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q3 — liabilityTimingCashAdjustmentUSDm
0 USD million · forecast · Qualification Q36 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q3 — cashPaymentUSDm
2.16 USD million · forecast · Qualification Q36 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q3 — netCashChangeUSDm
-2.16 USD million · forecast · Qualification Q36 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q4 — operativeEndingCashUSDm
31.27900000000001 USD million · forecast · Qualification Q37 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q4 — noncashAddbackRemovedUSDm
2.56 USD million · forecast · Qualification Q37 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q4 — liabilityTimingCashAdjustmentUSDm
0 USD million · forecast · Qualification Q37 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q4 — cashPaymentUSDm
2.56 USD million · forecast · Qualification Q37 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q4 — netCashChangeUSDm
-2.56 USD million · forecast · Qualification Q37 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment — minimum available cash after existing timing reserve
3.109310000000008 USD million · forecast · Qualification Q33 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2027-09-30', 'basis': 'Original economic model inclusive365 days; archived native cashPeriodEnd may be anniversary endpoint and is not silently relabeled'} ·
Front-loaded cash/payment — terminal cash before hypothetical exercises
31.27900000000001 USD million · forecast · Qualification Q33 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2027-09-30', 'basis': 'Original economic model inclusive365 days; archived native cashPeriodEnd may be anniversary endpoint and is not silently relabeled'} ·
Front-loaded cash/payment Q1 — operativeEndingCashUSDm
29.53638000000001 USD million · forecast · Qualification Q38 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q1 — noncashAddbackRemovedUSDm
1.44 USD million · forecast · Qualification Q38 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q1 — liabilityTimingCashAdjustmentUSDm
-6.56 USD million · forecast · Qualification Q38 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q1 — cashPaymentUSDm
8 USD million · forecast · Qualification Q38 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q1 — netCashChangeUSDm
-8 USD million · forecast · Qualification Q38 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q2 — operativeEndingCashUSDm
23.109310000000008 USD million · forecast · Qualification Q39 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q2 — noncashAddbackRemovedUSDm
1.84 USD million · forecast · Qualification Q39 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q2 — liabilityTimingCashAdjustmentUSDm
1.84 USD million · forecast · Qualification Q39 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q2 — cashPaymentUSDm
0 USD million · forecast · Qualification Q39 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q2 — netCashChangeUSDm
0 USD million · forecast · Qualification Q39 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q3 — operativeEndingCashUSDm
23.38188000000001 USD million · forecast · Qualification Q40 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q3 — noncashAddbackRemovedUSDm
2.16 USD million · forecast · Qualification Q40 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q3 — liabilityTimingCashAdjustmentUSDm
2.16 USD million · forecast · Qualification Q40 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q3 — cashPaymentUSDm
0 USD million · forecast · Qualification Q40 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q3 — netCashChangeUSDm
0 USD million · forecast · Qualification Q40 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q4 — operativeEndingCashUSDm
31.27900000000001 USD million · forecast · Qualification Q41 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q4 — noncashAddbackRemovedUSDm
2.56 USD million · forecast · Qualification Q41 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q4 — liabilityTimingCashAdjustmentUSDm
2.56 USD million · forecast · Qualification Q41 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q4 — cashPaymentUSDm
0 USD million · forecast · Qualification Q41 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q4 — netCashChangeUSDm
0 USD million · forecast · Qualification Q41 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
SBC6.761 — operative bounded cash · conditional-not-native-approval
Scenario period
2026-10-01 → 2027-09-30 · Original economic model inclusive365 days; archived native cashPeriodEnd may be anniversary endpoint and is not silently relabeled
0 — revenues
40 USD million · forecast · Qualification Q90 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC6.761; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
1 — revenues
50 USD million · forecast · Qualification Q90 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC6.761; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
2 — revenues
60 USD million · forecast · Qualification Q90 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC6.761; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
3 — revenues
70 USD million · forecast · Qualification Q90 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC6.761; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
adjusted Net Margin
0.25 fraction / ratio · forecast · Qualification Q90 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC6.761; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
sbc
6.761 USD million · forecast · Qualification Q90 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC6.761; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
amort
1.229 USD million · forecast · Qualification Q90 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC6.761; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
da
5 USD million · forecast · Qualification Q90 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC6.761; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
interest Net
3 USD million · forecast · Qualification Q90 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC6.761; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
tax Rate
0.2 fraction / ratio · forecast · Qualification Q90 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC6.761; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
wc
-45 USD million · forecast · Qualification Q90 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC6.761; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
capex
10 USD million · forecast · Qualification Q90 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC6.761; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
employee Proceeds
2.2 USD million · forecast · Qualification Q90 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC6.761; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
employee Withholding
3 USD million · forecast · Qualification Q90 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC6.761; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
shares
35 million ordinary shares (dated/weighted/analyst allowance as scoped) · forecast · Qualification Q90 below. Exact immutable field-origin/proof mapping retained. Dated or assumed opening/reference stock used in a conditional model, not a newly observed cash/share balance. Original factual measurement/assumption dates and historical source evidence remain unchanged; future model use is distinct from source measurement. Retained original row scope: Original analyst conditional sensitivities.SBC6.761; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
multiple
156.04490184213677 valuation multiple x · forecast · Qualification Q90 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC6.761; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
recognized Revenue
220 USD million · forecast · Qualification Q90 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC6.761; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
gaap EBIT
55.762499999999996 USD million · forecast · Qualification Q90 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC6.761; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
gaap Operating Margin
0.25346590909090905 fraction / ratio · forecast · Qualification Q90 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC6.761; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
pretax
58.762499999999996 USD million · forecast · Qualification Q90 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC6.761; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
income Tax Expense
11.752499999999998 USD million · forecast · Qualification Q90 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC6.761; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
group NI
47.01 USD million · forecast · Qualification Q90 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC6.761; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
Net income attributable to common — stated preferred treatment
47.01 USD million · forecast · Qualification Q90 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC6.761; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
owner Income Diagnostic
47.01 USD million · forecast · Qualification Q90 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC6.761; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
Noncash CFO addback — after cash-settlement component
4.999999999999999 USD million · forecast · Qualification Q90 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC6.761; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
other Cfo
0 USD million · forecast · Qualification Q90 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC6.761; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
working Capital Cash
-45 USD million · forecast · Qualification Q90 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC6.761; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
Operating cash flow — stated period and case
7.010000000000001 USD million · forecast · Qualification Q90 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC6.761; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
adjusted Net Income Hypothesis
55 USD million · forecast · Qualification Q90 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC6.761; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
SBCExpense Charged No Tax Shield
6.761 USD million · forecast · Qualification Q90 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC6.761; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
acquired Amort Charged No Tax Shield
1.229 USD million · forecast · Qualification Q90 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC6.761; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
no Repeated FY26 Tax Benefit
true boolean qualification, not monetary measurement · not-applicable · Qualification Q90 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.SBC6.761; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
GAAPForecast Status
analyst GAAP-style reconciliation, not issuer guidance. Historical SAR cash expense included within SBC allowance; extra target SAR cash tested separately. retained explanatory text · not-applicable · Qualification Q90 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.SBC6.761; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
opening Cash
102.58800000000001 USD million · forecast · Qualification Q90 below. Exact immutable field-origin/proof mapping retained. Dated or assumed opening/reference stock used in a conditional model, not a newly observed cash/share balance. Original factual measurement/assumption dates and historical source evidence remain unchanged; future model use is distinct from source measurement. Retained original row scope: Original analyst conditional sensitivities.SBC6.761; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
Terminal cash BEFORE hypothetical exercises
98.79800000000003 USD million · forecast · Qualification Q90 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC6.761; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
terminal Cash Post Hypothetical Exercises
98.79800000000003 USD million · forecast · Qualification Q90 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC6.761; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
terminal Debt
0 USD million · forecast · Qualification Q90 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC6.761; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
terminal Ownership Claim
0 USD million · forecast · Qualification Q90 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC6.761; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
quarter Boundary Minimum Pre Exercises
81.02311000000002 USD million · forecast · Qualification Q90 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC6.761; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
intra Quarter Timing Reserve
20 USD million · forecast · Qualification Q90 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC6.761; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
Minimum available cash — bounded analyst case
61.02311000000002 USD million · forecast · Qualification Q90 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC6.761; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
policy Reserve Gap
0 USD million · forecast · Qualification Q90 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC6.761; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
cash Funding Status
conditional-positive-under-stated-assumptions retained explanatory text · not-applicable · Qualification Q90 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.SBC6.761; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
ordinary M
32.62045 million ordinary shares (dated/weighted/analyst allowance as scoped) · forecast · Qualification Q90 below. Exact immutable field-origin/proof mapping retained. Dated or assumed opening/reference stock used in a conditional model, not a newly observed cash/share balance. Original factual measurement/assumption dates and historical source evidence remain unchanged; future model use is distinct from source measurement. Retained original row scope: Original analyst conditional sensitivities.SBC6.761; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
total Shares M
35 million ordinary shares (dated/weighted/analyst allowance as scoped) · forecast · Qualification Q90 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC6.761; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
forward Incremental Allowance M
2.379550000000002 million ordinary shares (dated/weighted/analyst allowance as scoped) · forecast · Qualification Q90 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC6.761; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
not Exact Fully Diluted
true boolean qualification, not monetary measurement · not-applicable · Qualification Q90 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.SBC6.761; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
exercise Cash USDm
0 USD million · forecast · Qualification Q90 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC6.761; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
convertible Shares M
0 million ordinary shares (dated/weighted/analyst allowance as scoped) · forecast · Qualification Q90 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC6.761; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
convertible Debt Removed
0 USD million · forecast · Qualification Q90 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC6.761; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
conversion Cash Settlement
0 USD million · forecast · Qualification Q90 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC6.761; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
conversion Price
Unknown (null) USD million · unknown · Qualification Q90 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
no Convert Treatment
none retained explanatory text · not-applicable · Qualification Q90 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.SBC6.761; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
applicability
source-reviewed no outstanding convertible financing in retained balance/debt notes; options/RSUs remain separate employee claims retained explanatory text · not-applicable · Qualification Q90 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.SBC6.761; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
terminal Shares M
35 million ordinary shares (dated/weighted/analyst allowance as scoped) · forecast · Qualification Q90 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC6.761; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
terminal Multiple
156.04490184213677 valuation multiple x · forecast · Qualification Q90 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC6.761; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
equity Pricing Identity
commonOwnerIncome*PE; no additive netcash/debt retained explanatory text · not-applicable · Qualification Q90 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.SBC6.761; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
terminal Equity USDm
7335.670835598849 USD million · forecast · Qualification Q90 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC6.761; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
Per-share scenario price — unchanged
209.59059530282425 USD/share · forecast · Qualification Q90 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC6.761; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
price Ratio
2.0628995910488115 fraction / ratio · forecast · Qualification Q90 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC6.761; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
GAAPCommon PEContext
156.04490184213677 valuation multiple x · forecast · Qualification Q90 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC6.761; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
no Warrant Cash In Trough
true boolean qualification, not monetary measurement · not-applicable · Qualification Q90 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.SBC6.761; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
not Observed Daily Cash
true boolean qualification, not monetary measurement · not-applicable · Qualification Q90 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.SBC6.761; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
0 — operativeCashComponentRangeUSDm
0 USD million · forecast · Qualification Q90 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC6.761; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
1 — operativeCashComponentRangeUSDm
6.761 USD million · forecast · Qualification Q90 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC6.761; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
cash Endpoint Convention
c=upper existing expense budget, frontloaded within horizon for displayed operative cash;0cash/all-noncash and matched/delayed endpoints in separately bounded proof below retained explanatory text · not-applicable · Qualification Q90 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.SBC6.761; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
bound Conditions
If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. retained explanatory text · not-applicable · Qualification Q90 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.SBC6.761; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
minimum Bound Includes Original Timing Reserve
true boolean qualification, not monetary measurement · not-applicable · Qualification Q90 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.SBC6.761; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
operativeQuarter 1 — signed cash/revenue/compensation reconciliation
[{"field":"0.quarter","value":1,"unit":"quarter index"},{"field":"0.periodStart","value":"2026-10-01","unit":"retained explanatory text"},{"field":"0.periodEnd","value":"2026-12-31","unit":"retained explanatory text"},{"field":"0.inclusiveDays","value":92,"unit":"USD million"},{"field":"0.recognizedRevenueHypothesis","value":40,"unit":"USD million"},{"field":"0.openingCash","value":102.58800000000001,"unit":"USD million"},{"field":"0.flows.operatingCashBeforeWorkingCapital","value":3.81778,"unit":"USD million"},{"field":"0.flows.workingCapitalCash","value":-18.0,"unit":"USD million"},{"field":"0.flows.cashPPE","value":-4.5,"unit":"USD million"},{"field":"0.flows.softwareCash","value":-0.0,"unit":"USD million"},{"field":"0.flows.acquisitionCash","value":-0.0,"unit":"USD million"},{"field":"0.flows.ordinaryBuybackCash","value":-0.0,"unit":"USD million"},{"field":"0.flows.cashDistributions","value":-0.0,"unit":"USD million"},{"field":"0.flows.employeeTaxWithholdingCash","value":-0.75,"unit":"USD million"},{"field":"0.flows.employeePlanProceedsFinancing","value":0.55,"unit":"USD million"},{"field":"0.flows.debtRaised","value":0.0,"unit":"USD million"},{"field":"0.flows.debtPrincipalRepaid","value":-0.0,"unit":"USD million"},{"field":"0.flows.extraStressUse","value":0,"unit":"USD million"},{"field":"0.endingCashBeforeTargetExercises","value":83.70578,"unit":"USD million"},{"field":"0.endingDebt","value":0.0,"unit":"USD million"},{"field":"0.noncashAddbackRemovedUSDm","value":1.21698,"unit":"USD million"},{"field":"0.liabilityTimingCashAdjustmentUSDm","value":-5.54402,"unit":"USD million"},{"field":"0.cashCompensationPaymentUSDm","value":6.761,"unit":"USD million"},{"field":"0.cashCostCountedOnceNetChangeUSDm","value":-6.761,"unit":"USD million"}] USD million for signed cash/revenue values; period dates and quarter identifiers are header context, not monetary assumptions · forecast · Qualification Q91 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC6.761; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2026-10-01 / 2026-12-31; EACH signed cash item shown, compensation net payment counted once. ·
operativeQuarter 2 — signed cash/revenue/compensation reconciliation
[{"field":"1.quarter","value":2,"unit":"quarter index"},{"field":"1.periodStart","value":"2027-01-01","unit":"retained explanatory text"},{"field":"1.periodEnd","value":"2027-03-31","unit":"retained explanatory text"},{"field":"1.inclusiveDays","value":90,"unit":"USD million"},{"field":"1.recognizedRevenueHypothesis","value":50,"unit":"USD million"},{"field":"1.openingCash","value":83.70578,"unit":"USD million"},{"field":"1.flows.operatingCashBeforeWorkingCapital","value":13.517330000000001,"unit":"USD million"},{"field":"1.flows.workingCapitalCash","value":-13.5,"unit":"USD million"},{"field":"1.flows.cashPPE","value":-2.5,"unit":"USD million"},{"field":"1.flows.softwareCash","value":-0.0,"unit":"USD million"},{"field":"1.flows.acquisitionCash","value":-0.0,"unit":"USD million"},{"field":"1.flows.ordinaryBuybackCash","value":-0.0,"unit":"USD million"},{"field":"1.flows.cashDistributions","value":-0.0,"unit":"USD million"},{"field":"1.flows.employeeTaxWithholdingCash","value":-0.75,"unit":"USD million"},{"field":"1.flows.employeePlanProceedsFinancing","value":0.55,"unit":"USD million"},{"field":"1.flows.debtRaised","value":0.0,"unit":"USD million"},{"field":"1.flows.debtPrincipalRepaid","value":-0.0,"unit":"USD million"},{"field":"1.flows.extraStressUse","value":0,"unit":"USD million"},{"field":"1.endingCashBeforeTargetExercises","value":81.02311000000002,"unit":"USD million"},{"field":"1.endingDebt","value":0.0,"unit":"USD million"},{"field":"1.noncashAddbackRemovedUSDm","value":1.55503,"unit":"USD million"},{"field":"1.liabilityTimingCashAdjustmentUSDm","value":1.55503,"unit":"USD million"},{"field":"1.cashCompensationPaymentUSDm","value":0.0,"unit":"USD million"},{"field":"1.cashCostCountedOnceNetChangeUSDm","value":0.0,"unit":"USD million"}] USD million for signed cash/revenue values; period dates and quarter identifiers are header context, not monetary assumptions · forecast · Qualification Q92 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC6.761; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2027-01-01 / 2027-03-31; EACH signed cash item shown, compensation net payment counted once. ·
operativeQuarter 3 — signed cash/revenue/compensation reconciliation
[{"field":"2.quarter","value":3,"unit":"quarter index"},{"field":"2.periodStart","value":"2027-04-01","unit":"retained explanatory text"},{"field":"2.periodEnd","value":"2027-06-30","unit":"retained explanatory text"},{"field":"2.inclusiveDays","value":91,"unit":"USD million"},{"field":"2.recognizedRevenueHypothesis","value":60,"unit":"USD million"},{"field":"2.openingCash","value":81.02311000000002,"unit":"USD million"},{"field":"2.flows.operatingCashBeforeWorkingCapital","value":15.868170000000001,"unit":"USD million"},{"field":"2.flows.workingCapitalCash","value":-9.0,"unit":"USD million"},{"field":"2.flows.cashPPE","value":-2.0,"unit":"USD million"},{"field":"2.flows.softwareCash","value":-0.0,"unit":"USD million"},{"field":"2.flows.acquisitionCash","value":-0.0,"unit":"USD million"},{"field":"2.flows.ordinaryBuybackCash","value":-0.0,"unit":"USD million"},{"field":"2.flows.cashDistributions","value":-0.0,"unit":"USD million"},{"field":"2.flows.employeeTaxWithholdingCash","value":-0.75,"unit":"USD million"},{"field":"2.flows.employeePlanProceedsFinancing","value":0.55,"unit":"USD million"},{"field":"2.flows.debtRaised","value":0.0,"unit":"USD million"},{"field":"2.flows.debtPrincipalRepaid","value":-0.0,"unit":"USD million"},{"field":"2.flows.extraStressUse","value":0,"unit":"USD million"},{"field":"2.endingCashBeforeTargetExercises","value":85.69128000000002,"unit":"USD million"},{"field":"2.endingDebt","value":0.0,"unit":"USD million"},{"field":"2.noncashAddbackRemovedUSDm","value":1.82547,"unit":"USD million"},{"field":"2.liabilityTimingCashAdjustmentUSDm","value":1.82547,"unit":"USD million"},{"field":"2.cashCompensationPaymentUSDm","value":0.0,"unit":"USD million"},{"field":"2.cashCostCountedOnceNetChangeUSDm","value":0.0,"unit":"USD million"}] USD million for signed cash/revenue values; period dates and quarter identifiers are header context, not monetary assumptions · forecast · Qualification Q93 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC6.761; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2027-04-01 / 2027-06-30; EACH signed cash item shown, compensation net payment counted once. ·
operativeQuarter 4 — signed cash/revenue/compensation reconciliation
[{"field":"3.quarter","value":4,"unit":"quarter index"},{"field":"3.periodStart","value":"2027-07-01","unit":"retained explanatory text"},{"field":"3.periodEnd","value":"2027-09-30","unit":"retained explanatory text"},{"field":"3.inclusiveDays","value":92,"unit":"USD million"},{"field":"3.recognizedRevenueHypothesis","value":70,"unit":"USD million"},{"field":"3.openingCash","value":85.69128000000002,"unit":"USD million"},{"field":"3.flows.operatingCashBeforeWorkingCapital","value":18.806720000000002,"unit":"USD million"},{"field":"3.flows.workingCapitalCash","value":-4.5,"unit":"USD million"},{"field":"3.flows.cashPPE","value":-1.0,"unit":"USD million"},{"field":"3.flows.softwareCash","value":-0.0,"unit":"USD million"},{"field":"3.flows.acquisitionCash","value":0,"unit":"USD million"},{"field":"3.flows.ordinaryBuybackCash","value":-0.0,"unit":"USD million"},{"field":"3.flows.cashDistributions","value":-0.0,"unit":"USD million"},{"field":"3.flows.employeeTaxWithholdingCash","value":-0.75,"unit":"USD million"},{"field":"3.flows.employeePlanProceedsFinancing","value":0.55,"unit":"USD million"},{"field":"3.flows.debtRaised","value":0.0,"unit":"USD million"},{"field":"3.flows.debtPrincipalRepaid","value":-0.0,"unit":"USD million"},{"field":"3.flows.extraStressUse","value":0,"unit":"USD million"},{"field":"3.endingCashBeforeTargetExercises","value":98.79800000000003,"unit":"USD million"},{"field":"3.endingDebt","value":0.0,"unit":"USD million"},{"field":"3.noncashAddbackRemovedUSDm","value":2.16352,"unit":"USD million"},{"field":"3.liabilityTimingCashAdjustmentUSDm","value":2.16352,"unit":"USD million"},{"field":"3.cashCompensationPaymentUSDm","value":0.0,"unit":"USD million"},{"field":"3.cashCostCountedOnceNetChangeUSDm","value":0.0,"unit":"USD million"}] USD million for signed cash/revenue values; period dates and quarter identifiers are header context, not monetary assumptions · forecast · Qualification Q94 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC6.761; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2027-07-01 / 2027-09-30; EACH signed cash item shown, compensation net payment counted once. ·
matchedExpensePaymentAlternative 1 — signed cash/revenue/compensation reconciliation
[{"field":"0.quarter","value":1,"unit":"quarter index"},{"field":"0.cashPaymentUSDm","value":1.21698,"unit":"USD million"},{"field":"0.noncashAddbackRemovedUSDm","value":1.21698,"unit":"USD million"},{"field":"0.liabilityTimingCashAdjustmentUSDm","value":0.0,"unit":"USD million"},{"field":"0.operativeEndingCashUSDm","value":89.24980000000001,"unit":"USD million"}] USD million for signed cash/revenue values; period dates and quarter identifiers are header context, not monetary assumptions · forecast · Qualification Q95 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC6.761; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2026-10-01 / 2027-09-30; EACH signed cash item shown, compensation net payment counted once. ·
matchedExpensePaymentAlternative 2 — signed cash/revenue/compensation reconciliation
[{"field":"1.quarter","value":2,"unit":"quarter index"},{"field":"1.cashPaymentUSDm","value":1.55503,"unit":"USD million"},{"field":"1.noncashAddbackRemovedUSDm","value":1.55503,"unit":"USD million"},{"field":"1.liabilityTimingCashAdjustmentUSDm","value":0.0,"unit":"USD million"},{"field":"1.operativeEndingCashUSDm","value":85.0121,"unit":"USD million"}] USD million for signed cash/revenue values; period dates and quarter identifiers are header context, not monetary assumptions · forecast · Qualification Q95 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC6.761; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2026-10-01 / 2027-09-30; EACH signed cash item shown, compensation net payment counted once. ·
matchedExpensePaymentAlternative 3 — signed cash/revenue/compensation reconciliation
[{"field":"2.quarter","value":3,"unit":"quarter index"},{"field":"2.cashPaymentUSDm","value":1.82547,"unit":"USD million"},{"field":"2.noncashAddbackRemovedUSDm","value":1.82547,"unit":"USD million"},{"field":"2.liabilityTimingCashAdjustmentUSDm","value":0.0,"unit":"USD million"},{"field":"2.operativeEndingCashUSDm","value":87.85480000000003,"unit":"USD million"}] USD million for signed cash/revenue values; period dates and quarter identifiers are header context, not monetary assumptions · forecast · Qualification Q95 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC6.761; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2026-10-01 / 2027-09-30; EACH signed cash item shown, compensation net payment counted once. ·
matchedExpensePaymentAlternative 4 — signed cash/revenue/compensation reconciliation
[{"field":"3.quarter","value":4,"unit":"quarter index"},{"field":"3.cashPaymentUSDm","value":2.16352,"unit":"USD million"},{"field":"3.noncashAddbackRemovedUSDm","value":2.16352,"unit":"USD million"},{"field":"3.liabilityTimingCashAdjustmentUSDm","value":0.0,"unit":"USD million"},{"field":"3.operativeEndingCashUSDm","value":98.79800000000003,"unit":"USD million"}] USD million for signed cash/revenue values; period dates and quarter identifiers are header context, not monetary assumptions · forecast · Qualification Q95 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC6.761; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2026-10-01 / 2027-09-30; EACH signed cash item shown, compensation net payment counted once. ·
Matched expense/payment — minimum available cash after existing timing reserve
65.0121 USD million · forecast · Qualification Q33 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2027-09-30', 'basis': 'Original economic model inclusive365 days; archived native cashPeriodEnd may be anniversary endpoint and is not silently relabeled'} ·
Matched expense/payment — terminal cash before hypothetical exercises
98.79800000000003 USD million · forecast · Qualification Q33 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2027-09-30', 'basis': 'Original economic model inclusive365 days; archived native cashPeriodEnd may be anniversary endpoint and is not silently relabeled'} ·
Matched expense/payment Q1 — operativeEndingCashUSDm
89.24980000000001 USD million · forecast · Qualification Q34 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q1 — noncashAddbackRemovedUSDm
1.21698 USD million · forecast · Qualification Q34 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q1 — liabilityTimingCashAdjustmentUSDm
0 USD million · forecast · Qualification Q34 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q1 — cashPaymentUSDm
1.21698 USD million · forecast · Qualification Q34 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q1 — netCashChangeUSDm
-1.21698 USD million · forecast · Qualification Q34 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q2 — operativeEndingCashUSDm
85.0121 USD million · forecast · Qualification Q35 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q2 — noncashAddbackRemovedUSDm
1.55503 USD million · forecast · Qualification Q35 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q2 — liabilityTimingCashAdjustmentUSDm
0 USD million · forecast · Qualification Q35 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q2 — cashPaymentUSDm
1.55503 USD million · forecast · Qualification Q35 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q2 — netCashChangeUSDm
-1.55503 USD million · forecast · Qualification Q35 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q3 — operativeEndingCashUSDm
87.85480000000003 USD million · forecast · Qualification Q36 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q3 — noncashAddbackRemovedUSDm
1.82547 USD million · forecast · Qualification Q36 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q3 — liabilityTimingCashAdjustmentUSDm
0 USD million · forecast · Qualification Q36 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q3 — cashPaymentUSDm
1.82547 USD million · forecast · Qualification Q36 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q3 — netCashChangeUSDm
-1.82547 USD million · forecast · Qualification Q36 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q4 — operativeEndingCashUSDm
98.79800000000003 USD million · forecast · Qualification Q37 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q4 — noncashAddbackRemovedUSDm
2.16352 USD million · forecast · Qualification Q37 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q4 — liabilityTimingCashAdjustmentUSDm
0 USD million · forecast · Qualification Q37 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q4 — cashPaymentUSDm
2.16352 USD million · forecast · Qualification Q37 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q4 — netCashChangeUSDm
-2.16352 USD million · forecast · Qualification Q37 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment — minimum available cash after existing timing reserve
61.02311000000002 USD million · forecast · Qualification Q33 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2027-09-30', 'basis': 'Original economic model inclusive365 days; archived native cashPeriodEnd may be anniversary endpoint and is not silently relabeled'} ·
Front-loaded cash/payment — terminal cash before hypothetical exercises
98.79800000000003 USD million · forecast · Qualification Q33 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2027-09-30', 'basis': 'Original economic model inclusive365 days; archived native cashPeriodEnd may be anniversary endpoint and is not silently relabeled'} ·
Front-loaded cash/payment Q1 — operativeEndingCashUSDm
83.70578 USD million · forecast · Qualification Q38 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q1 — noncashAddbackRemovedUSDm
1.21698 USD million · forecast · Qualification Q38 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q1 — liabilityTimingCashAdjustmentUSDm
-5.54402 USD million · forecast · Qualification Q38 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q1 — cashPaymentUSDm
6.761 USD million · forecast · Qualification Q38 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q1 — netCashChangeUSDm
-6.761 USD million · forecast · Qualification Q38 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q2 — operativeEndingCashUSDm
81.02311000000002 USD million · forecast · Qualification Q39 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q2 — noncashAddbackRemovedUSDm
1.55503 USD million · forecast · Qualification Q39 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q2 — liabilityTimingCashAdjustmentUSDm
1.55503 USD million · forecast · Qualification Q39 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q2 — cashPaymentUSDm
0 USD million · forecast · Qualification Q39 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q2 — netCashChangeUSDm
0 USD million · forecast · Qualification Q39 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q3 — operativeEndingCashUSDm
85.69128000000002 USD million · forecast · Qualification Q40 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q3 — noncashAddbackRemovedUSDm
1.82547 USD million · forecast · Qualification Q40 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q3 — liabilityTimingCashAdjustmentUSDm
1.82547 USD million · forecast · Qualification Q40 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q3 — cashPaymentUSDm
0 USD million · forecast · Qualification Q40 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q3 — netCashChangeUSDm
0 USD million · forecast · Qualification Q40 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q4 — operativeEndingCashUSDm
98.79800000000003 USD million · forecast · Qualification Q41 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q4 — noncashAddbackRemovedUSDm
2.16352 USD million · forecast · Qualification Q41 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q4 — liabilityTimingCashAdjustmentUSDm
2.16352 USD million · forecast · Qualification Q41 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q4 — cashPaymentUSDm
0 USD million · forecast · Qualification Q41 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q4 — netCashChangeUSDm
0 USD million · forecast · Qualification Q41 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
SBC10 — operative bounded cash · conditional-not-native-approval
Scenario period
2026-10-01 → 2027-09-30 · Original economic model inclusive365 days; archived native cashPeriodEnd may be anniversary endpoint and is not silently relabeled
0 — revenues
40 USD million · forecast · Qualification Q96 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC10; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
1 — revenues
50 USD million · forecast · Qualification Q96 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC10; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
2 — revenues
60 USD million · forecast · Qualification Q96 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC10; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
3 — revenues
70 USD million · forecast · Qualification Q96 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC10; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
adjusted Net Margin
0.25 fraction / ratio · forecast · Qualification Q96 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC10; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
sbc
10 USD million · forecast · Qualification Q96 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC10; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
amort
1.229 USD million · forecast · Qualification Q96 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC10; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
da
5 USD million · forecast · Qualification Q96 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC10; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
interest Net
3 USD million · forecast · Qualification Q96 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC10; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
tax Rate
0.2 fraction / ratio · forecast · Qualification Q96 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC10; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
wc
-45 USD million · forecast · Qualification Q96 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC10; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
capex
10 USD million · forecast · Qualification Q96 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC10; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
employee Proceeds
2.2 USD million · forecast · Qualification Q96 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC10; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
employee Withholding
3 USD million · forecast · Qualification Q96 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC10; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
shares
35 million ordinary shares (dated/weighted/analyst allowance as scoped) · forecast · Qualification Q96 below. Exact immutable field-origin/proof mapping retained. Dated or assumed opening/reference stock used in a conditional model, not a newly observed cash/share balance. Original factual measurement/assumption dates and historical source evidence remain unchanged; future model use is distinct from source measurement. Retained original row scope: Original analyst conditional sensitivities.SBC10; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
multiple
156.04490184213677 valuation multiple x · forecast · Qualification Q96 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC10; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
recognized Revenue
220 USD million · forecast · Qualification Q96 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC10; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
gaap EBIT
51.713750000000005 USD million · forecast · Qualification Q96 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC10; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
gaap Operating Margin
0.2350625 fraction / ratio · forecast · Qualification Q96 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC10; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
pretax
54.713750000000005 USD million · forecast · Qualification Q96 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC10; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
income Tax Expense
10.94275 USD million · forecast · Qualification Q96 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC10; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
group NI
43.771 USD million · forecast · Qualification Q96 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC10; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
Net income attributable to common — stated preferred treatment
43.771 USD million · forecast · Qualification Q96 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC10; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
owner Income Diagnostic
43.771 USD million · forecast · Qualification Q96 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC10; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
Noncash CFO addback — after cash-settlement component
7 USD million · forecast · Qualification Q96 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC10; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
other Cfo
0 USD million · forecast · Qualification Q96 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC10; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
working Capital Cash
-45 USD million · forecast · Qualification Q96 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC10; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
Operating cash flow — stated period and case
5.771000000000001 USD million · forecast · Qualification Q96 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC10; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
adjusted Net Income Hypothesis
55 USD million · forecast · Qualification Q96 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC10; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
SBCExpense Charged No Tax Shield
10 USD million · forecast · Qualification Q96 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC10; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
acquired Amort Charged No Tax Shield
1.229 USD million · forecast · Qualification Q96 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC10; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
no Repeated FY26 Tax Benefit
true boolean qualification, not monetary measurement · not-applicable · Qualification Q96 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.SBC10; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
GAAPForecast Status
analyst GAAP-style reconciliation, not issuer guidance. Historical SAR cash expense included within SBC allowance; extra target SAR cash tested separately. retained explanatory text · not-applicable · Qualification Q96 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.SBC10; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
opening Cash
102.58800000000001 USD million · forecast · Qualification Q96 below. Exact immutable field-origin/proof mapping retained. Dated or assumed opening/reference stock used in a conditional model, not a newly observed cash/share balance. Original factual measurement/assumption dates and historical source evidence remain unchanged; future model use is distinct from source measurement. Retained original row scope: Original analyst conditional sensitivities.SBC10; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
Terminal cash BEFORE hypothetical exercises
97.55900000000003 USD million · forecast · Qualification Q96 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC10; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
terminal Cash Post Hypothetical Exercises
97.55900000000003 USD million · forecast · Qualification Q96 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC10; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
terminal Debt
0 USD million · forecast · Qualification Q96 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC10; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
terminal Ownership Claim
0 USD million · forecast · Qualification Q96 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC10; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
quarter Boundary Minimum Pre Exercises
79.78411000000001 USD million · forecast · Qualification Q96 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC10; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
intra Quarter Timing Reserve
20 USD million · forecast · Qualification Q96 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC10; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
Minimum available cash — bounded analyst case
59.78411000000001 USD million · forecast · Qualification Q96 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC10; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
policy Reserve Gap
0 USD million · forecast · Qualification Q96 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC10; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
cash Funding Status
conditional-positive-under-stated-assumptions retained explanatory text · not-applicable · Qualification Q96 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.SBC10; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
ordinary M
32.62045 million ordinary shares (dated/weighted/analyst allowance as scoped) · forecast · Qualification Q96 below. Exact immutable field-origin/proof mapping retained. Dated or assumed opening/reference stock used in a conditional model, not a newly observed cash/share balance. Original factual measurement/assumption dates and historical source evidence remain unchanged; future model use is distinct from source measurement. Retained original row scope: Original analyst conditional sensitivities.SBC10; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
total Shares M
35 million ordinary shares (dated/weighted/analyst allowance as scoped) · forecast · Qualification Q96 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC10; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
forward Incremental Allowance M
2.379550000000002 million ordinary shares (dated/weighted/analyst allowance as scoped) · forecast · Qualification Q96 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC10; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
not Exact Fully Diluted
true boolean qualification, not monetary measurement · not-applicable · Qualification Q96 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.SBC10; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
exercise Cash USDm
0 USD million · forecast · Qualification Q96 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC10; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
convertible Shares M
0 million ordinary shares (dated/weighted/analyst allowance as scoped) · forecast · Qualification Q96 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC10; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
convertible Debt Removed
0 USD million · forecast · Qualification Q96 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC10; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
conversion Cash Settlement
0 USD million · forecast · Qualification Q96 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC10; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
conversion Price
Unknown (null) USD million · unknown · Qualification Q96 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
no Convert Treatment
none retained explanatory text · not-applicable · Qualification Q96 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.SBC10; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
applicability
source-reviewed no outstanding convertible financing in retained balance/debt notes; options/RSUs remain separate employee claims retained explanatory text · not-applicable · Qualification Q96 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.SBC10; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
terminal Shares M
35 million ordinary shares (dated/weighted/analyst allowance as scoped) · forecast · Qualification Q96 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC10; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
terminal Multiple
156.04490184213677 valuation multiple x · forecast · Qualification Q96 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC10; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
equity Pricing Identity
commonOwnerIncome*PE; no additive netcash/debt retained explanatory text · not-applicable · Qualification Q96 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.SBC10; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
terminal Equity USDm
6830.241398532168 USD million · forecast · Qualification Q96 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC10; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
Per-share scenario price — unchanged
195.14975424377624 USD/share · forecast · Qualification Q96 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC10; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
price Ratio
1.920765326521964 fraction / ratio · forecast · Qualification Q96 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC10; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
GAAPCommon PEContext
156.04490184213677 valuation multiple x · forecast · Qualification Q96 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC10; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
no Warrant Cash In Trough
true boolean qualification, not monetary measurement · not-applicable · Qualification Q96 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.SBC10; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
not Observed Daily Cash
true boolean qualification, not monetary measurement · not-applicable · Qualification Q96 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.SBC10; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
0 — operativeCashComponentRangeUSDm
0 USD million · forecast · Qualification Q96 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC10; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
1 — operativeCashComponentRangeUSDm
8 USD million · forecast · Qualification Q96 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC10; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
cash Endpoint Convention
c=upper existing expense budget, frontloaded within horizon for displayed operative cash;0cash/all-noncash and matched/delayed endpoints in separately bounded proof below retained explanatory text · not-applicable · Qualification Q96 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.SBC10; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
bound Conditions
If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. retained explanatory text · not-applicable · Qualification Q96 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.SBC10; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
minimum Bound Includes Original Timing Reserve
true boolean qualification, not monetary measurement · not-applicable · Qualification Q96 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.SBC10; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
operativeQuarter 1 — signed cash/revenue/compensation reconciliation
[{"field":"0.quarter","value":1,"unit":"quarter index"},{"field":"0.periodStart","value":"2026-10-01","unit":"retained explanatory text"},{"field":"0.periodEnd","value":"2026-12-31","unit":"retained explanatory text"},{"field":"0.inclusiveDays","value":92,"unit":"USD million"},{"field":"0.recognizedRevenueHypothesis","value":40,"unit":"USD million"},{"field":"0.openingCash","value":102.58800000000001,"unit":"USD million"},{"field":"0.flows.operatingCashBeforeWorkingCapital","value":2.57878,"unit":"USD million"},{"field":"0.flows.workingCapitalCash","value":-18.0,"unit":"USD million"},{"field":"0.flows.cashPPE","value":-4.5,"unit":"USD million"},{"field":"0.flows.softwareCash","value":-0.0,"unit":"USD million"},{"field":"0.flows.acquisitionCash","value":-0.0,"unit":"USD million"},{"field":"0.flows.ordinaryBuybackCash","value":-0.0,"unit":"USD million"},{"field":"0.flows.cashDistributions","value":-0.0,"unit":"USD million"},{"field":"0.flows.employeeTaxWithholdingCash","value":-0.75,"unit":"USD million"},{"field":"0.flows.employeePlanProceedsFinancing","value":0.55,"unit":"USD million"},{"field":"0.flows.debtRaised","value":0.0,"unit":"USD million"},{"field":"0.flows.debtPrincipalRepaid","value":-0.0,"unit":"USD million"},{"field":"0.flows.extraStressUse","value":0,"unit":"USD million"},{"field":"0.endingCashBeforeTargetExercises","value":82.46678000000001,"unit":"USD million"},{"field":"0.endingDebt","value":0.0,"unit":"USD million"},{"field":"0.noncashAddbackRemovedUSDm","value":1.44,"unit":"USD million"},{"field":"0.liabilityTimingCashAdjustmentUSDm","value":-6.56,"unit":"USD million"},{"field":"0.cashCompensationPaymentUSDm","value":8.0,"unit":"USD million"},{"field":"0.cashCostCountedOnceNetChangeUSDm","value":-8.0,"unit":"USD million"}] USD million for signed cash/revenue values; period dates and quarter identifiers are header context, not monetary assumptions · forecast · Qualification Q97 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC10; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2026-10-01 / 2026-12-31; EACH signed cash item shown, compensation net payment counted once. ·
operativeQuarter 2 — signed cash/revenue/compensation reconciliation
[{"field":"1.quarter","value":2,"unit":"quarter index"},{"field":"1.periodStart","value":"2027-01-01","unit":"retained explanatory text"},{"field":"1.periodEnd","value":"2027-03-31","unit":"retained explanatory text"},{"field":"1.inclusiveDays","value":90,"unit":"USD million"},{"field":"1.recognizedRevenueHypothesis","value":50,"unit":"USD million"},{"field":"1.openingCash","value":82.46678000000001,"unit":"USD million"},{"field":"1.flows.operatingCashBeforeWorkingCapital","value":13.517330000000001,"unit":"USD million"},{"field":"1.flows.workingCapitalCash","value":-13.5,"unit":"USD million"},{"field":"1.flows.cashPPE","value":-2.5,"unit":"USD million"},{"field":"1.flows.softwareCash","value":-0.0,"unit":"USD million"},{"field":"1.flows.acquisitionCash","value":-0.0,"unit":"USD million"},{"field":"1.flows.ordinaryBuybackCash","value":-0.0,"unit":"USD million"},{"field":"1.flows.cashDistributions","value":-0.0,"unit":"USD million"},{"field":"1.flows.employeeTaxWithholdingCash","value":-0.75,"unit":"USD million"},{"field":"1.flows.employeePlanProceedsFinancing","value":0.55,"unit":"USD million"},{"field":"1.flows.debtRaised","value":0.0,"unit":"USD million"},{"field":"1.flows.debtPrincipalRepaid","value":-0.0,"unit":"USD million"},{"field":"1.flows.extraStressUse","value":0,"unit":"USD million"},{"field":"1.endingCashBeforeTargetExercises","value":79.78411000000001,"unit":"USD million"},{"field":"1.endingDebt","value":0.0,"unit":"USD million"},{"field":"1.noncashAddbackRemovedUSDm","value":1.84,"unit":"USD million"},{"field":"1.liabilityTimingCashAdjustmentUSDm","value":1.84,"unit":"USD million"},{"field":"1.cashCompensationPaymentUSDm","value":0.0,"unit":"USD million"},{"field":"1.cashCostCountedOnceNetChangeUSDm","value":0.0,"unit":"USD million"}] USD million for signed cash/revenue values; period dates and quarter identifiers are header context, not monetary assumptions · forecast · Qualification Q98 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC10; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2027-01-01 / 2027-03-31; EACH signed cash item shown, compensation net payment counted once. ·
operativeQuarter 3 — signed cash/revenue/compensation reconciliation
[{"field":"2.quarter","value":3,"unit":"quarter index"},{"field":"2.periodStart","value":"2027-04-01","unit":"retained explanatory text"},{"field":"2.periodEnd","value":"2027-06-30","unit":"retained explanatory text"},{"field":"2.inclusiveDays","value":91,"unit":"USD million"},{"field":"2.recognizedRevenueHypothesis","value":60,"unit":"USD million"},{"field":"2.openingCash","value":79.78411000000001,"unit":"USD million"},{"field":"2.flows.operatingCashBeforeWorkingCapital","value":15.868170000000001,"unit":"USD million"},{"field":"2.flows.workingCapitalCash","value":-9.0,"unit":"USD million"},{"field":"2.flows.cashPPE","value":-2.0,"unit":"USD million"},{"field":"2.flows.softwareCash","value":-0.0,"unit":"USD million"},{"field":"2.flows.acquisitionCash","value":-0.0,"unit":"USD million"},{"field":"2.flows.ordinaryBuybackCash","value":-0.0,"unit":"USD million"},{"field":"2.flows.cashDistributions","value":-0.0,"unit":"USD million"},{"field":"2.flows.employeeTaxWithholdingCash","value":-0.75,"unit":"USD million"},{"field":"2.flows.employeePlanProceedsFinancing","value":0.55,"unit":"USD million"},{"field":"2.flows.debtRaised","value":0.0,"unit":"USD million"},{"field":"2.flows.debtPrincipalRepaid","value":-0.0,"unit":"USD million"},{"field":"2.flows.extraStressUse","value":0,"unit":"USD million"},{"field":"2.endingCashBeforeTargetExercises","value":84.45228000000002,"unit":"USD million"},{"field":"2.endingDebt","value":0.0,"unit":"USD million"},{"field":"2.noncashAddbackRemovedUSDm","value":2.16,"unit":"USD million"},{"field":"2.liabilityTimingCashAdjustmentUSDm","value":2.16,"unit":"USD million"},{"field":"2.cashCompensationPaymentUSDm","value":0.0,"unit":"USD million"},{"field":"2.cashCostCountedOnceNetChangeUSDm","value":0.0,"unit":"USD million"}] USD million for signed cash/revenue values; period dates and quarter identifiers are header context, not monetary assumptions · forecast · Qualification Q99 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC10; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2027-04-01 / 2027-06-30; EACH signed cash item shown, compensation net payment counted once. ·
operativeQuarter 4 — signed cash/revenue/compensation reconciliation
[{"field":"3.quarter","value":4,"unit":"quarter index"},{"field":"3.periodStart","value":"2027-07-01","unit":"retained explanatory text"},{"field":"3.periodEnd","value":"2027-09-30","unit":"retained explanatory text"},{"field":"3.inclusiveDays","value":92,"unit":"USD million"},{"field":"3.recognizedRevenueHypothesis","value":70,"unit":"USD million"},{"field":"3.openingCash","value":84.45228000000002,"unit":"USD million"},{"field":"3.flows.operatingCashBeforeWorkingCapital","value":18.806720000000002,"unit":"USD million"},{"field":"3.flows.workingCapitalCash","value":-4.5,"unit":"USD million"},{"field":"3.flows.cashPPE","value":-1.0,"unit":"USD million"},{"field":"3.flows.softwareCash","value":-0.0,"unit":"USD million"},{"field":"3.flows.acquisitionCash","value":0,"unit":"USD million"},{"field":"3.flows.ordinaryBuybackCash","value":-0.0,"unit":"USD million"},{"field":"3.flows.cashDistributions","value":-0.0,"unit":"USD million"},{"field":"3.flows.employeeTaxWithholdingCash","value":-0.75,"unit":"USD million"},{"field":"3.flows.employeePlanProceedsFinancing","value":0.55,"unit":"USD million"},{"field":"3.flows.debtRaised","value":0.0,"unit":"USD million"},{"field":"3.flows.debtPrincipalRepaid","value":-0.0,"unit":"USD million"},{"field":"3.flows.extraStressUse","value":0,"unit":"USD million"},{"field":"3.endingCashBeforeTargetExercises","value":97.55900000000003,"unit":"USD million"},{"field":"3.endingDebt","value":0.0,"unit":"USD million"},{"field":"3.noncashAddbackRemovedUSDm","value":2.56,"unit":"USD million"},{"field":"3.liabilityTimingCashAdjustmentUSDm","value":2.56,"unit":"USD million"},{"field":"3.cashCompensationPaymentUSDm","value":0.0,"unit":"USD million"},{"field":"3.cashCostCountedOnceNetChangeUSDm","value":0.0,"unit":"USD million"}] USD million for signed cash/revenue values; period dates and quarter identifiers are header context, not monetary assumptions · forecast · Qualification Q100 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC10; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2027-07-01 / 2027-09-30; EACH signed cash item shown, compensation net payment counted once. ·
matchedExpensePaymentAlternative 1 — signed cash/revenue/compensation reconciliation
[{"field":"0.quarter","value":1,"unit":"quarter index"},{"field":"0.cashPaymentUSDm","value":1.44,"unit":"USD million"},{"field":"0.noncashAddbackRemovedUSDm","value":1.44,"unit":"USD million"},{"field":"0.liabilityTimingCashAdjustmentUSDm","value":0.0,"unit":"USD million"},{"field":"0.operativeEndingCashUSDm","value":89.02678000000002,"unit":"USD million"}] USD million for signed cash/revenue values; period dates and quarter identifiers are header context, not monetary assumptions · forecast · Qualification Q101 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC10; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2026-10-01 / 2027-09-30; EACH signed cash item shown, compensation net payment counted once. ·
matchedExpensePaymentAlternative 2 — signed cash/revenue/compensation reconciliation
[{"field":"1.quarter","value":2,"unit":"quarter index"},{"field":"1.cashPaymentUSDm","value":1.84,"unit":"USD million"},{"field":"1.noncashAddbackRemovedUSDm","value":1.84,"unit":"USD million"},{"field":"1.liabilityTimingCashAdjustmentUSDm","value":0.0,"unit":"USD million"},{"field":"1.operativeEndingCashUSDm","value":84.50411000000001,"unit":"USD million"}] USD million for signed cash/revenue values; period dates and quarter identifiers are header context, not monetary assumptions · forecast · Qualification Q101 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC10; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2026-10-01 / 2027-09-30; EACH signed cash item shown, compensation net payment counted once. ·
matchedExpensePaymentAlternative 3 — signed cash/revenue/compensation reconciliation
[{"field":"2.quarter","value":3,"unit":"quarter index"},{"field":"2.cashPaymentUSDm","value":2.16,"unit":"USD million"},{"field":"2.noncashAddbackRemovedUSDm","value":2.16,"unit":"USD million"},{"field":"2.liabilityTimingCashAdjustmentUSDm","value":0.0,"unit":"USD million"},{"field":"2.operativeEndingCashUSDm","value":87.01228000000002,"unit":"USD million"}] USD million for signed cash/revenue values; period dates and quarter identifiers are header context, not monetary assumptions · forecast · Qualification Q101 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC10; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2026-10-01 / 2027-09-30; EACH signed cash item shown, compensation net payment counted once. ·
matchedExpensePaymentAlternative 4 — signed cash/revenue/compensation reconciliation
[{"field":"3.quarter","value":4,"unit":"quarter index"},{"field":"3.cashPaymentUSDm","value":2.56,"unit":"USD million"},{"field":"3.noncashAddbackRemovedUSDm","value":2.56,"unit":"USD million"},{"field":"3.liabilityTimingCashAdjustmentUSDm","value":0.0,"unit":"USD million"},{"field":"3.operativeEndingCashUSDm","value":97.55900000000003,"unit":"USD million"}] USD million for signed cash/revenue values; period dates and quarter identifiers are header context, not monetary assumptions · forecast · Qualification Q101 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC10; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2026-10-01 / 2027-09-30; EACH signed cash item shown, compensation net payment counted once. ·
Matched expense/payment — minimum available cash after existing timing reserve
64.50411000000001 USD million · forecast · Qualification Q33 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2027-09-30', 'basis': 'Original economic model inclusive365 days; archived native cashPeriodEnd may be anniversary endpoint and is not silently relabeled'} ·
Matched expense/payment — terminal cash before hypothetical exercises
97.55900000000003 USD million · forecast · Qualification Q33 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2027-09-30', 'basis': 'Original economic model inclusive365 days; archived native cashPeriodEnd may be anniversary endpoint and is not silently relabeled'} ·
Matched expense/payment Q1 — operativeEndingCashUSDm
89.02678000000002 USD million · forecast · Qualification Q34 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q1 — noncashAddbackRemovedUSDm
1.44 USD million · forecast · Qualification Q34 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q1 — liabilityTimingCashAdjustmentUSDm
0 USD million · forecast · Qualification Q34 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q1 — cashPaymentUSDm
1.44 USD million · forecast · Qualification Q34 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q1 — netCashChangeUSDm
-1.44 USD million · forecast · Qualification Q34 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q2 — operativeEndingCashUSDm
84.50411000000001 USD million · forecast · Qualification Q35 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q2 — noncashAddbackRemovedUSDm
1.84 USD million · forecast · Qualification Q35 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q2 — liabilityTimingCashAdjustmentUSDm
0 USD million · forecast · Qualification Q35 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q2 — cashPaymentUSDm
1.84 USD million · forecast · Qualification Q35 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q2 — netCashChangeUSDm
-1.84 USD million · forecast · Qualification Q35 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q3 — operativeEndingCashUSDm
87.01228000000002 USD million · forecast · Qualification Q36 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q3 — noncashAddbackRemovedUSDm
2.16 USD million · forecast · Qualification Q36 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q3 — liabilityTimingCashAdjustmentUSDm
0 USD million · forecast · Qualification Q36 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q3 — cashPaymentUSDm
2.16 USD million · forecast · Qualification Q36 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q3 — netCashChangeUSDm
-2.16 USD million · forecast · Qualification Q36 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q4 — operativeEndingCashUSDm
97.55900000000003 USD million · forecast · Qualification Q37 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q4 — noncashAddbackRemovedUSDm
2.56 USD million · forecast · Qualification Q37 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q4 — liabilityTimingCashAdjustmentUSDm
0 USD million · forecast · Qualification Q37 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q4 — cashPaymentUSDm
2.56 USD million · forecast · Qualification Q37 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q4 — netCashChangeUSDm
-2.56 USD million · forecast · Qualification Q37 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment — minimum available cash after existing timing reserve
59.78411000000001 USD million · forecast · Qualification Q33 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2027-09-30', 'basis': 'Original economic model inclusive365 days; archived native cashPeriodEnd may be anniversary endpoint and is not silently relabeled'} ·
Front-loaded cash/payment — terminal cash before hypothetical exercises
97.55900000000003 USD million · forecast · Qualification Q33 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2027-09-30', 'basis': 'Original economic model inclusive365 days; archived native cashPeriodEnd may be anniversary endpoint and is not silently relabeled'} ·
Front-loaded cash/payment Q1 — operativeEndingCashUSDm
82.46678000000001 USD million · forecast · Qualification Q38 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q1 — noncashAddbackRemovedUSDm
1.44 USD million · forecast · Qualification Q38 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q1 — liabilityTimingCashAdjustmentUSDm
-6.56 USD million · forecast · Qualification Q38 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q1 — cashPaymentUSDm
8 USD million · forecast · Qualification Q38 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q1 — netCashChangeUSDm
-8 USD million · forecast · Qualification Q38 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q2 — operativeEndingCashUSDm
79.78411000000001 USD million · forecast · Qualification Q39 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q2 — noncashAddbackRemovedUSDm
1.84 USD million · forecast · Qualification Q39 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q2 — liabilityTimingCashAdjustmentUSDm
1.84 USD million · forecast · Qualification Q39 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q2 — cashPaymentUSDm
0 USD million · forecast · Qualification Q39 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q2 — netCashChangeUSDm
0 USD million · forecast · Qualification Q39 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q3 — operativeEndingCashUSDm
84.45228000000002 USD million · forecast · Qualification Q40 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q3 — noncashAddbackRemovedUSDm
2.16 USD million · forecast · Qualification Q40 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q3 — liabilityTimingCashAdjustmentUSDm
2.16 USD million · forecast · Qualification Q40 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q3 — cashPaymentUSDm
0 USD million · forecast · Qualification Q40 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q3 — netCashChangeUSDm
0 USD million · forecast · Qualification Q40 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q4 — operativeEndingCashUSDm
97.55900000000003 USD million · forecast · Qualification Q41 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q4 — noncashAddbackRemovedUSDm
2.56 USD million · forecast · Qualification Q41 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q4 — liabilityTimingCashAdjustmentUSDm
2.56 USD million · forecast · Qualification Q41 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q4 — cashPaymentUSDm
0 USD million · forecast · Qualification Q41 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q4 — netCashChangeUSDm
0 USD million · forecast · Qualification Q41 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
SBC12 — operative bounded cash · conditional-not-native-approval
Scenario period
2026-10-01 → 2027-09-30 · Original economic model inclusive365 days; archived native cashPeriodEnd may be anniversary endpoint and is not silently relabeled
0 — revenues
40 USD million · forecast · Qualification Q102 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC12; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
1 — revenues
50 USD million · forecast · Qualification Q102 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC12; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
2 — revenues
60 USD million · forecast · Qualification Q102 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC12; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
3 — revenues
70 USD million · forecast · Qualification Q102 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC12; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
adjusted Net Margin
0.25 fraction / ratio · forecast · Qualification Q102 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC12; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
sbc
12 USD million · forecast · Qualification Q102 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC12; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
amort
1.229 USD million · forecast · Qualification Q102 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC12; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
da
5 USD million · forecast · Qualification Q102 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC12; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
interest Net
3 USD million · forecast · Qualification Q102 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC12; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
tax Rate
0.2 fraction / ratio · forecast · Qualification Q102 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC12; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
wc
-45 USD million · forecast · Qualification Q102 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC12; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
capex
10 USD million · forecast · Qualification Q102 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC12; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
employee Proceeds
2.2 USD million · forecast · Qualification Q102 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC12; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
employee Withholding
3 USD million · forecast · Qualification Q102 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC12; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
shares
35 million ordinary shares (dated/weighted/analyst allowance as scoped) · forecast · Qualification Q102 below. Exact immutable field-origin/proof mapping retained. Dated or assumed opening/reference stock used in a conditional model, not a newly observed cash/share balance. Original factual measurement/assumption dates and historical source evidence remain unchanged; future model use is distinct from source measurement. Retained original row scope: Original analyst conditional sensitivities.SBC12; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
multiple
156.04490184213677 valuation multiple x · forecast · Qualification Q102 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC12; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
recognized Revenue
220 USD million · forecast · Qualification Q102 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC12; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
gaap EBIT
49.213750000000005 USD million · forecast · Qualification Q102 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC12; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
gaap Operating Margin
0.22369886363636365 fraction / ratio · forecast · Qualification Q102 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC12; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
pretax
52.213750000000005 USD million · forecast · Qualification Q102 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC12; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
income Tax Expense
10.44275 USD million · forecast · Qualification Q102 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC12; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
group NI
41.771 USD million · forecast · Qualification Q102 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC12; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
Net income attributable to common — stated preferred treatment
41.771 USD million · forecast · Qualification Q102 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC12; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
owner Income Diagnostic
41.771 USD million · forecast · Qualification Q102 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC12; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
Noncash CFO addback — after cash-settlement component
9 USD million · forecast · Qualification Q102 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC12; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
other Cfo
0 USD million · forecast · Qualification Q102 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC12; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
working Capital Cash
-45 USD million · forecast · Qualification Q102 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC12; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
Operating cash flow — stated period and case
5.771000000000001 USD million · forecast · Qualification Q102 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC12; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
adjusted Net Income Hypothesis
55 USD million · forecast · Qualification Q102 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC12; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
SBCExpense Charged No Tax Shield
12 USD million · forecast · Qualification Q102 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC12; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
acquired Amort Charged No Tax Shield
1.229 USD million · forecast · Qualification Q102 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC12; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
no Repeated FY26 Tax Benefit
true boolean qualification, not monetary measurement · not-applicable · Qualification Q102 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.SBC12; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
GAAPForecast Status
analyst GAAP-style reconciliation, not issuer guidance. Historical SAR cash expense included within SBC allowance; extra target SAR cash tested separately. retained explanatory text · not-applicable · Qualification Q102 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.SBC12; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
opening Cash
102.58800000000001 USD million · forecast · Qualification Q102 below. Exact immutable field-origin/proof mapping retained. Dated or assumed opening/reference stock used in a conditional model, not a newly observed cash/share balance. Original factual measurement/assumption dates and historical source evidence remain unchanged; future model use is distinct from source measurement. Retained original row scope: Original analyst conditional sensitivities.SBC12; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
Terminal cash BEFORE hypothetical exercises
97.55900000000003 USD million · forecast · Qualification Q102 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC12; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
terminal Cash Post Hypothetical Exercises
97.55900000000003 USD million · forecast · Qualification Q102 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC12; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
terminal Debt
0 USD million · forecast · Qualification Q102 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC12; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
terminal Ownership Claim
0 USD million · forecast · Qualification Q102 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC12; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
quarter Boundary Minimum Pre Exercises
79.78411000000001 USD million · forecast · Qualification Q102 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC12; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
intra Quarter Timing Reserve
20 USD million · forecast · Qualification Q102 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC12; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
Minimum available cash — bounded analyst case
59.78411000000001 USD million · forecast · Qualification Q102 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC12; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
policy Reserve Gap
0 USD million · forecast · Qualification Q102 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC12; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
cash Funding Status
conditional-positive-under-stated-assumptions retained explanatory text · not-applicable · Qualification Q102 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.SBC12; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
ordinary M
32.62045 million ordinary shares (dated/weighted/analyst allowance as scoped) · forecast · Qualification Q102 below. Exact immutable field-origin/proof mapping retained. Dated or assumed opening/reference stock used in a conditional model, not a newly observed cash/share balance. Original factual measurement/assumption dates and historical source evidence remain unchanged; future model use is distinct from source measurement. Retained original row scope: Original analyst conditional sensitivities.SBC12; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
total Shares M
35 million ordinary shares (dated/weighted/analyst allowance as scoped) · forecast · Qualification Q102 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC12; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
forward Incremental Allowance M
2.379550000000002 million ordinary shares (dated/weighted/analyst allowance as scoped) · forecast · Qualification Q102 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC12; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
not Exact Fully Diluted
true boolean qualification, not monetary measurement · not-applicable · Qualification Q102 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.SBC12; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
exercise Cash USDm
0 USD million · forecast · Qualification Q102 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC12; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
convertible Shares M
0 million ordinary shares (dated/weighted/analyst allowance as scoped) · forecast · Qualification Q102 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC12; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
convertible Debt Removed
0 USD million · forecast · Qualification Q102 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC12; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
conversion Cash Settlement
0 USD million · forecast · Qualification Q102 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC12; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
conversion Price
Unknown (null) USD million · unknown · Qualification Q102 below. Historical source context only; exact immutable field-origin/proof mapping retained. ·
no Convert Treatment
none retained explanatory text · not-applicable · Qualification Q102 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.SBC12; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
applicability
source-reviewed no outstanding convertible financing in retained balance/debt notes; options/RSUs remain separate employee claims retained explanatory text · not-applicable · Qualification Q102 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.SBC12; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
terminal Shares M
35 million ordinary shares (dated/weighted/analyst allowance as scoped) · forecast · Qualification Q102 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC12; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
terminal Multiple
156.04490184213677 valuation multiple x · forecast · Qualification Q102 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC12; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
equity Pricing Identity
commonOwnerIncome*PE; no additive netcash/debt retained explanatory text · not-applicable · Qualification Q102 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.SBC12; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
terminal Equity USDm
6518.151594847895 USD million · forecast · Qualification Q102 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC12; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
Per-share scenario price — unchanged
186.23290270993985 USD/share · forecast · Qualification Q102 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC12; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
price Ratio
1.8330010384535185 fraction / ratio · forecast · Qualification Q102 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC12; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
GAAPCommon PEContext
156.04490184213677 valuation multiple x · forecast · Qualification Q102 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC12; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
no Warrant Cash In Trough
true boolean qualification, not monetary measurement · not-applicable · Qualification Q102 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.SBC12; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
not Observed Daily Cash
true boolean qualification, not monetary measurement · not-applicable · Qualification Q102 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.SBC12; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
0 — operativeCashComponentRangeUSDm
0 USD million · forecast · Qualification Q102 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC12; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
1 — operativeCashComponentRangeUSDm
8 USD million · forecast · Qualification Q102 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC12; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
cash Endpoint Convention
c=upper existing expense budget, frontloaded within horizon for displayed operative cash;0cash/all-noncash and matched/delayed endpoints in separately bounded proof below retained explanatory text · not-applicable · Qualification Q102 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.SBC12; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
bound Conditions
If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. retained explanatory text · not-applicable · Qualification Q102 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.SBC12; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
minimum Bound Includes Original Timing Reserve
true boolean qualification, not monetary measurement · not-applicable · Qualification Q102 below. Exact immutable field-origin/proof mapping retained. Conditional model semantic/applicability tag, not a measured amount or issuer fact. Historical source evidence/provenance clocks remain historical; model applicability is distinct from archived source role. Retained original row scope: Original analyst conditional sensitivities.SBC12; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Measurement/forecast period: {'periodStart': '2026-10-01', 'periodEnd': '2027-09-30', 'inclusiveDays': 365, 'noOctober2027DayIncluded': True, 'elapsedStubExcludedFromFutureRevenue': True}. ·
operativeQuarter 1 — signed cash/revenue/compensation reconciliation
[{"field":"0.quarter","value":1,"unit":"quarter index"},{"field":"0.periodStart","value":"2026-10-01","unit":"retained explanatory text"},{"field":"0.periodEnd","value":"2026-12-31","unit":"retained explanatory text"},{"field":"0.inclusiveDays","value":92,"unit":"USD million"},{"field":"0.recognizedRevenueHypothesis","value":40,"unit":"USD million"},{"field":"0.openingCash","value":102.58800000000001,"unit":"USD million"},{"field":"0.flows.operatingCashBeforeWorkingCapital","value":2.57878,"unit":"USD million"},{"field":"0.flows.workingCapitalCash","value":-18.0,"unit":"USD million"},{"field":"0.flows.cashPPE","value":-4.5,"unit":"USD million"},{"field":"0.flows.softwareCash","value":-0.0,"unit":"USD million"},{"field":"0.flows.acquisitionCash","value":-0.0,"unit":"USD million"},{"field":"0.flows.ordinaryBuybackCash","value":-0.0,"unit":"USD million"},{"field":"0.flows.cashDistributions","value":-0.0,"unit":"USD million"},{"field":"0.flows.employeeTaxWithholdingCash","value":-0.75,"unit":"USD million"},{"field":"0.flows.employeePlanProceedsFinancing","value":0.55,"unit":"USD million"},{"field":"0.flows.debtRaised","value":0.0,"unit":"USD million"},{"field":"0.flows.debtPrincipalRepaid","value":-0.0,"unit":"USD million"},{"field":"0.flows.extraStressUse","value":0,"unit":"USD million"},{"field":"0.endingCashBeforeTargetExercises","value":82.46678000000001,"unit":"USD million"},{"field":"0.endingDebt","value":0.0,"unit":"USD million"},{"field":"0.noncashAddbackRemovedUSDm","value":1.44,"unit":"USD million"},{"field":"0.liabilityTimingCashAdjustmentUSDm","value":-6.56,"unit":"USD million"},{"field":"0.cashCompensationPaymentUSDm","value":8.0,"unit":"USD million"},{"field":"0.cashCostCountedOnceNetChangeUSDm","value":-8.0,"unit":"USD million"}] USD million for signed cash/revenue values; period dates and quarter identifiers are header context, not monetary assumptions · forecast · Qualification Q103 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC12; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2026-10-01 / 2026-12-31; EACH signed cash item shown, compensation net payment counted once. ·
operativeQuarter 2 — signed cash/revenue/compensation reconciliation
[{"field":"1.quarter","value":2,"unit":"quarter index"},{"field":"1.periodStart","value":"2027-01-01","unit":"retained explanatory text"},{"field":"1.periodEnd","value":"2027-03-31","unit":"retained explanatory text"},{"field":"1.inclusiveDays","value":90,"unit":"USD million"},{"field":"1.recognizedRevenueHypothesis","value":50,"unit":"USD million"},{"field":"1.openingCash","value":82.46678000000001,"unit":"USD million"},{"field":"1.flows.operatingCashBeforeWorkingCapital","value":13.517330000000001,"unit":"USD million"},{"field":"1.flows.workingCapitalCash","value":-13.5,"unit":"USD million"},{"field":"1.flows.cashPPE","value":-2.5,"unit":"USD million"},{"field":"1.flows.softwareCash","value":-0.0,"unit":"USD million"},{"field":"1.flows.acquisitionCash","value":-0.0,"unit":"USD million"},{"field":"1.flows.ordinaryBuybackCash","value":-0.0,"unit":"USD million"},{"field":"1.flows.cashDistributions","value":-0.0,"unit":"USD million"},{"field":"1.flows.employeeTaxWithholdingCash","value":-0.75,"unit":"USD million"},{"field":"1.flows.employeePlanProceedsFinancing","value":0.55,"unit":"USD million"},{"field":"1.flows.debtRaised","value":0.0,"unit":"USD million"},{"field":"1.flows.debtPrincipalRepaid","value":-0.0,"unit":"USD million"},{"field":"1.flows.extraStressUse","value":0,"unit":"USD million"},{"field":"1.endingCashBeforeTargetExercises","value":79.78411000000001,"unit":"USD million"},{"field":"1.endingDebt","value":0.0,"unit":"USD million"},{"field":"1.noncashAddbackRemovedUSDm","value":1.84,"unit":"USD million"},{"field":"1.liabilityTimingCashAdjustmentUSDm","value":1.84,"unit":"USD million"},{"field":"1.cashCompensationPaymentUSDm","value":0.0,"unit":"USD million"},{"field":"1.cashCostCountedOnceNetChangeUSDm","value":0.0,"unit":"USD million"}] USD million for signed cash/revenue values; period dates and quarter identifiers are header context, not monetary assumptions · forecast · Qualification Q104 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC12; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2027-01-01 / 2027-03-31; EACH signed cash item shown, compensation net payment counted once. ·
operativeQuarter 3 — signed cash/revenue/compensation reconciliation
[{"field":"2.quarter","value":3,"unit":"quarter index"},{"field":"2.periodStart","value":"2027-04-01","unit":"retained explanatory text"},{"field":"2.periodEnd","value":"2027-06-30","unit":"retained explanatory text"},{"field":"2.inclusiveDays","value":91,"unit":"USD million"},{"field":"2.recognizedRevenueHypothesis","value":60,"unit":"USD million"},{"field":"2.openingCash","value":79.78411000000001,"unit":"USD million"},{"field":"2.flows.operatingCashBeforeWorkingCapital","value":15.868170000000001,"unit":"USD million"},{"field":"2.flows.workingCapitalCash","value":-9.0,"unit":"USD million"},{"field":"2.flows.cashPPE","value":-2.0,"unit":"USD million"},{"field":"2.flows.softwareCash","value":-0.0,"unit":"USD million"},{"field":"2.flows.acquisitionCash","value":-0.0,"unit":"USD million"},{"field":"2.flows.ordinaryBuybackCash","value":-0.0,"unit":"USD million"},{"field":"2.flows.cashDistributions","value":-0.0,"unit":"USD million"},{"field":"2.flows.employeeTaxWithholdingCash","value":-0.75,"unit":"USD million"},{"field":"2.flows.employeePlanProceedsFinancing","value":0.55,"unit":"USD million"},{"field":"2.flows.debtRaised","value":0.0,"unit":"USD million"},{"field":"2.flows.debtPrincipalRepaid","value":-0.0,"unit":"USD million"},{"field":"2.flows.extraStressUse","value":0,"unit":"USD million"},{"field":"2.endingCashBeforeTargetExercises","value":84.45228000000002,"unit":"USD million"},{"field":"2.endingDebt","value":0.0,"unit":"USD million"},{"field":"2.noncashAddbackRemovedUSDm","value":2.16,"unit":"USD million"},{"field":"2.liabilityTimingCashAdjustmentUSDm","value":2.16,"unit":"USD million"},{"field":"2.cashCompensationPaymentUSDm","value":0.0,"unit":"USD million"},{"field":"2.cashCostCountedOnceNetChangeUSDm","value":0.0,"unit":"USD million"}] USD million for signed cash/revenue values; period dates and quarter identifiers are header context, not monetary assumptions · forecast · Qualification Q105 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC12; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2027-04-01 / 2027-06-30; EACH signed cash item shown, compensation net payment counted once. ·
operativeQuarter 4 — signed cash/revenue/compensation reconciliation
[{"field":"3.quarter","value":4,"unit":"quarter index"},{"field":"3.periodStart","value":"2027-07-01","unit":"retained explanatory text"},{"field":"3.periodEnd","value":"2027-09-30","unit":"retained explanatory text"},{"field":"3.inclusiveDays","value":92,"unit":"USD million"},{"field":"3.recognizedRevenueHypothesis","value":70,"unit":"USD million"},{"field":"3.openingCash","value":84.45228000000002,"unit":"USD million"},{"field":"3.flows.operatingCashBeforeWorkingCapital","value":18.806720000000002,"unit":"USD million"},{"field":"3.flows.workingCapitalCash","value":-4.5,"unit":"USD million"},{"field":"3.flows.cashPPE","value":-1.0,"unit":"USD million"},{"field":"3.flows.softwareCash","value":-0.0,"unit":"USD million"},{"field":"3.flows.acquisitionCash","value":0,"unit":"USD million"},{"field":"3.flows.ordinaryBuybackCash","value":-0.0,"unit":"USD million"},{"field":"3.flows.cashDistributions","value":-0.0,"unit":"USD million"},{"field":"3.flows.employeeTaxWithholdingCash","value":-0.75,"unit":"USD million"},{"field":"3.flows.employeePlanProceedsFinancing","value":0.55,"unit":"USD million"},{"field":"3.flows.debtRaised","value":0.0,"unit":"USD million"},{"field":"3.flows.debtPrincipalRepaid","value":-0.0,"unit":"USD million"},{"field":"3.flows.extraStressUse","value":0,"unit":"USD million"},{"field":"3.endingCashBeforeTargetExercises","value":97.55900000000003,"unit":"USD million"},{"field":"3.endingDebt","value":0.0,"unit":"USD million"},{"field":"3.noncashAddbackRemovedUSDm","value":2.56,"unit":"USD million"},{"field":"3.liabilityTimingCashAdjustmentUSDm","value":2.56,"unit":"USD million"},{"field":"3.cashCompensationPaymentUSDm","value":0.0,"unit":"USD million"},{"field":"3.cashCostCountedOnceNetChangeUSDm","value":0.0,"unit":"USD million"}] USD million for signed cash/revenue values; period dates and quarter identifiers are header context, not monetary assumptions · forecast · Qualification Q106 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC12; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2027-07-01 / 2027-09-30; EACH signed cash item shown, compensation net payment counted once. ·
matchedExpensePaymentAlternative 1 — signed cash/revenue/compensation reconciliation
[{"field":"0.quarter","value":1,"unit":"quarter index"},{"field":"0.cashPaymentUSDm","value":1.44,"unit":"USD million"},{"field":"0.noncashAddbackRemovedUSDm","value":1.44,"unit":"USD million"},{"field":"0.liabilityTimingCashAdjustmentUSDm","value":0.0,"unit":"USD million"},{"field":"0.operativeEndingCashUSDm","value":89.02678000000002,"unit":"USD million"}] USD million for signed cash/revenue values; period dates and quarter identifiers are header context, not monetary assumptions · forecast · Qualification Q107 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC12; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2026-10-01 / 2027-09-30; EACH signed cash item shown, compensation net payment counted once. ·
matchedExpensePaymentAlternative 2 — signed cash/revenue/compensation reconciliation
[{"field":"1.quarter","value":2,"unit":"quarter index"},{"field":"1.cashPaymentUSDm","value":1.84,"unit":"USD million"},{"field":"1.noncashAddbackRemovedUSDm","value":1.84,"unit":"USD million"},{"field":"1.liabilityTimingCashAdjustmentUSDm","value":0.0,"unit":"USD million"},{"field":"1.operativeEndingCashUSDm","value":84.50411000000001,"unit":"USD million"}] USD million for signed cash/revenue values; period dates and quarter identifiers are header context, not monetary assumptions · forecast · Qualification Q107 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC12; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2026-10-01 / 2027-09-30; EACH signed cash item shown, compensation net payment counted once. ·
matchedExpensePaymentAlternative 3 — signed cash/revenue/compensation reconciliation
[{"field":"2.quarter","value":3,"unit":"quarter index"},{"field":"2.cashPaymentUSDm","value":2.16,"unit":"USD million"},{"field":"2.noncashAddbackRemovedUSDm","value":2.16,"unit":"USD million"},{"field":"2.liabilityTimingCashAdjustmentUSDm","value":0.0,"unit":"USD million"},{"field":"2.operativeEndingCashUSDm","value":87.01228000000002,"unit":"USD million"}] USD million for signed cash/revenue values; period dates and quarter identifiers are header context, not monetary assumptions · forecast · Qualification Q107 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC12; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2026-10-01 / 2027-09-30; EACH signed cash item shown, compensation net payment counted once. ·
matchedExpensePaymentAlternative 4 — signed cash/revenue/compensation reconciliation
[{"field":"3.quarter","value":4,"unit":"quarter index"},{"field":"3.cashPaymentUSDm","value":2.56,"unit":"USD million"},{"field":"3.noncashAddbackRemovedUSDm","value":2.56,"unit":"USD million"},{"field":"3.liabilityTimingCashAdjustmentUSDm","value":0.0,"unit":"USD million"},{"field":"3.operativeEndingCashUSDm","value":97.55900000000003,"unit":"USD million"}] USD million for signed cash/revenue values; period dates and quarter identifiers are header context, not monetary assumptions · forecast · Qualification Q107 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: Original analyst conditional sensitivities.SBC12; dated ordinary versus terminal allowance, owner attribution, collection, financing, minority/JV and valuation distinctions retained. NOT issuer guarantee. CURRENT operative cash endpoint uses existing expense c<=min(8,budget); CFO=original CFO-noncashRemoved+liabilityTiming=original CFO-payment ONCE. >8m/new remeasurement/out-of-horizon breaks bound; NI/price unchanged. Exact other endpoints remain in0040 archive. Quarter period 2026-10-01 / 2027-09-30; EACH signed cash item shown, compensation net payment counted once. ·
Matched expense/payment — minimum available cash after existing timing reserve
64.50411000000001 USD million · forecast · Qualification Q33 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2027-09-30', 'basis': 'Original economic model inclusive365 days; archived native cashPeriodEnd may be anniversary endpoint and is not silently relabeled'} ·
Matched expense/payment — terminal cash before hypothetical exercises
97.55900000000003 USD million · forecast · Qualification Q33 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2027-09-30', 'basis': 'Original economic model inclusive365 days; archived native cashPeriodEnd may be anniversary endpoint and is not silently relabeled'} ·
Matched expense/payment Q1 — operativeEndingCashUSDm
89.02678000000002 USD million · forecast · Qualification Q34 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q1 — noncashAddbackRemovedUSDm
1.44 USD million · forecast · Qualification Q34 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q1 — liabilityTimingCashAdjustmentUSDm
0 USD million · forecast · Qualification Q34 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q1 — cashPaymentUSDm
1.44 USD million · forecast · Qualification Q34 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q1 — netCashChangeUSDm
-1.44 USD million · forecast · Qualification Q34 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q2 — operativeEndingCashUSDm
84.50411000000001 USD million · forecast · Qualification Q35 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q2 — noncashAddbackRemovedUSDm
1.84 USD million · forecast · Qualification Q35 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q2 — liabilityTimingCashAdjustmentUSDm
0 USD million · forecast · Qualification Q35 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q2 — cashPaymentUSDm
1.84 USD million · forecast · Qualification Q35 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q2 — netCashChangeUSDm
-1.84 USD million · forecast · Qualification Q35 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q3 — operativeEndingCashUSDm
87.01228000000002 USD million · forecast · Qualification Q36 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q3 — noncashAddbackRemovedUSDm
2.16 USD million · forecast · Qualification Q36 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q3 — liabilityTimingCashAdjustmentUSDm
0 USD million · forecast · Qualification Q36 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q3 — cashPaymentUSDm
2.16 USD million · forecast · Qualification Q36 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q3 — netCashChangeUSDm
-2.16 USD million · forecast · Qualification Q36 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q4 — operativeEndingCashUSDm
97.55900000000003 USD million · forecast · Qualification Q37 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q4 — noncashAddbackRemovedUSDm
2.56 USD million · forecast · Qualification Q37 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q4 — liabilityTimingCashAdjustmentUSDm
0 USD million · forecast · Qualification Q37 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q4 — cashPaymentUSDm
2.56 USD million · forecast · Qualification Q37 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Matched expense/payment Q4 — netCashChangeUSDm
-2.56 USD million · forecast · Qualification Q37 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Matched expense/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment — minimum available cash after existing timing reserve
59.78411000000001 USD million · forecast · Qualification Q33 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2027-09-30', 'basis': 'Original economic model inclusive365 days; archived native cashPeriodEnd may be anniversary endpoint and is not silently relabeled'} ·
Front-loaded cash/payment — terminal cash before hypothetical exercises
97.55900000000003 USD million · forecast · Qualification Q33 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2027-09-30', 'basis': 'Original economic model inclusive365 days; archived native cashPeriodEnd may be anniversary endpoint and is not silently relabeled'} ·
Front-loaded cash/payment Q1 — operativeEndingCashUSDm
82.46678000000001 USD million · forecast · Qualification Q38 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q1 — noncashAddbackRemovedUSDm
1.44 USD million · forecast · Qualification Q38 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q1 — liabilityTimingCashAdjustmentUSDm
-6.56 USD million · forecast · Qualification Q38 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q1 — cashPaymentUSDm
8 USD million · forecast · Qualification Q38 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q1 — netCashChangeUSDm
-8 USD million · forecast · Qualification Q38 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2026-10-01', 'end': '2026-12-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q2 — operativeEndingCashUSDm
79.78411000000001 USD million · forecast · Qualification Q39 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q2 — noncashAddbackRemovedUSDm
1.84 USD million · forecast · Qualification Q39 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q2 — liabilityTimingCashAdjustmentUSDm
1.84 USD million · forecast · Qualification Q39 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q2 — cashPaymentUSDm
0 USD million · forecast · Qualification Q39 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q2 — netCashChangeUSDm
0 USD million · forecast · Qualification Q39 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-01-01', 'end': '2027-03-31', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q3 — operativeEndingCashUSDm
84.45228000000002 USD million · forecast · Qualification Q40 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q3 — noncashAddbackRemovedUSDm
2.16 USD million · forecast · Qualification Q40 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q3 — liabilityTimingCashAdjustmentUSDm
2.16 USD million · forecast · Qualification Q40 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q3 — cashPaymentUSDm
0 USD million · forecast · Qualification Q40 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q3 — netCashChangeUSDm
0 USD million · forecast · Qualification Q40 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-04-01', 'end': '2027-06-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q4 — operativeEndingCashUSDm
97.55900000000003 USD million · forecast · Qualification Q41 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q4 — noncashAddbackRemovedUSDm
2.56 USD million · forecast · Qualification Q41 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q4 — liabilityTimingCashAdjustmentUSDm
2.56 USD million · forecast · Qualification Q41 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q4 — cashPaymentUSDm
0 USD million · forecast · Qualification Q41 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
Front-loaded cash/payment Q4 — netCashChangeUSDm
0 USD million · forecast · Qualification Q41 below. Exact immutable field-origin/proof mapping retained. Operative analyst conditional forward model row, not issuer fact, observed bank/FD measurement, issuer guidance, or native conformance. Historical source evidence/provenance clocks remain historical; they do not make this conditional model row economically nonoperative. Retained original row scope: CURRENT OPERATIVE bounded compensation endpoint, c within original expense/min(8,budget). Remove noncash addback plus liability timing = pay once; NI/target price/claim shares unchanged. If actual future cash-settled expense/payment exceeds8m, changes liability valuation/recognition, or payments precede assumed horizon/timing reserve, these bounds do not guarantee funding. Rebuild/refund spending/liquidity trajectory with actual extra obligation; do not call cash positive unconditionally. Exact undisclosed future SAR is not prerequisite for this finite conditional route. Issuer source IDs support historical inputs only; operative derivation is accepted0040, NOT an issuer future budget or observed bank cash. Period {'start': '2027-07-01', 'end': '2027-09-30', 'basis': 'Front-loaded cash/payment within original quarter, not fabricated publication'} ·
- originalComponents.AEHR-component-annual-revenue
Published: 2026-07-27 · Retrieved: 2026-10-02T10:00:40.580596+00:00 - originalComponents.AEHR-component-annual-cfo
Published: 2026-07-27 · Retrieved: 2026-10-02T10:00:40.580596+00:00 - financials.revenue
Published: 2026-07-27 · Retrieved: 2026-10-02T10:00:40.580596+00:00 - financials.eps
Published: 2026-07-27 · Retrieved: 2026-10-02T10:00:40.580596+00:00