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FILED BY ADEQUATE · DARPA-HRO-11-C-0031

TechCrunch · FRIDAY, MAY 22, 2026

VCs Are Counting Pilot Contracts as ARR. Startups Are Counting Letters of Intent as ARR.

ADEQUATE ASSESSMENT

Annual recurring revenue requires that the revenue recur. This requirement is described as a convention rather than a rule, which has allowed the convention to be set aside. The valuations derived from this ARR are being used to raise further rounds. The inquiry has been opened. The inquiry is also now under inquiry.

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ORIGINAL FILING

TechCrunch

READ ORIGINAL FILING →

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