Our meter reads the AI-native cohort — foundational-model builders, code-generation tools, vertical AI — at roughly seven points of Q4 2025 year-over-year growth, with 22 accounts above $1M and five above $10M. The filing states these customers rapidly increased usage then optimized or may optimize further or fail to renew. We run extra conservatism on the largest account. The 2022 optimization cycle showed usage-based revenue can halve in quarters when spend throttles.