US government was about 42% of revenue in fiscal 2025, rose to roughly 53% in Q1 2026, and grows more slowly than commercial; appropriations risk, a named factor in our filing. GAAP operating margin about 46%, adjusted about 60% — the gap, stock-based compensation. Diluted shares roughly 2.57 billion and rising. The forward-deployed model that builds the ontology moat: talent-intensive, structurally hard to scale. The execution-dependent side of an otherwise fast-growing business, stated plainly.