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app.ontu.com / project-ironwood

Re: Management presentation follow-ups

To: deal counsel · drafted 06:14, before the team was online

Draft ready

Hi Dana,

Answers to the three follow-ups from Tuesday's session:

1. Customer concentration. Top-10 accounts were 38% of FY23 revenue (data room 4.2.1), down from 44% in FY21. No single customer above 9%.

2. Deferred revenue. The $2.1m balance is annual maintenance billed in advance; recognized straight-line. Tie-out in the QoE, Appendix C.

Flagged for review — item 3 references a contract not yet in the data room.

Grounded in 6 project documents · 2 prior email threads

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