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780 AI Startups’ Revenue Disclosures Get Worse

The Information
Stephanie Palazzolo @ The Information · 04/10/2025 10:00 EDT

I don’t envy AI investors right now. The price of AI startup shares (unlike the value of my stock portfolio) seem to be only going up, which means it’s riskier to make new bets. And the way startups are disclosing financial metrics to investors seems to be getting more muddied. Take annual recurring revenue, which typically multiplies the past month’s subscription revenue by 12. It’s a crucial metric for investors trying to assess a startup’s performance—especially when they’re calculating what price they’r

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