[
  {
    "id": "ANT-07",
    "kind": "Directional management expectation",
    "claim": "Higher use of more expensive short-term compute is expected to compress GAAP and adjusted operating margins in the near term. New long-term capacity may also compress margins as it arrives.",
    "baseline": "Management expectation disclosed in the October filing; Q2 margins are historical comparison points, not promised floors.",
    "due": "Near term is not defined by a specific quarter or deadline",
    "evidence": "MD&A financial model, pp. 134-135",
    "test": "Track short-term compute use, capacity additions and management attribution of margin changes. A margin decline alone does not verify the stated cause; do not impose an invented deadline or numerical target.",
    "status": "Pending directional follow-up; excluded from binary promise scoring"
  },
  {
    "id": "ANT-01",
    "kind": "Dated management expectation",
    "claim": "Recognize approximately 75% of the June 30, 2026 RPO balance over the following 12 months.",
    "baseline": "USD10.8bn RPO; approximately USD8.1bn implied recognition.",
    "due": "June 30, 2027",
    "evidence": "Note 2, p. F-27",
    "test": "Seek recognition attributable to the original June cohort. Total revenue or a later RPO balance alone cannot establish fulfillment.",
    "status": "Pending; not yet scored"
  },
  {
    "id": "ANT-02",
    "kind": "Conditional liquidity assessment",
    "claim": "Available cash, cash generated from sales, and available credit should support specified needs for at least 12 months from the prospectus date.",
    "baseline": "Filing-date assessment includes the September amended credit facility. Keep its assumptions separate from June cash balances. Fundraising alone does not establish a miss.",
    "due": "At least 12 months from the prospectus date stated in the assessment; preliminary cover date blank. Reconcile the dated version when available.",
    "evidence": "MD&A, Liquidity and Capital Resources, pp. 162 onward",
    "test": "Track revised liquidity language, credit availability and evidence of an actual funding shortfall. A voluntary capital raise alone is not a miss.",
    "status": "Monitor from this filing; precise endpoint awaits dated prospectus"
  },
  {
    "id": "ANT-03",
    "kind": "Contract schedule, not performance promise",
    "claim": "Not-yet-commenced leases are scheduled to commence during 2026-2028, with some arrangements conditional.",
    "baseline": "USD321.4bn estimated undiscounted obligations at June 30.",
    "due": "2026-2028 commencement window",
    "evidence": "Note 7, p. F-36",
    "test": "Reconcile commenced capacity, revised dates, conditions and payment obligations. Do not treat the full balance as due in this window.",
    "status": "Monitoring; outside promise-score denominator"
  },
  {
    "id": "ANT-04",
    "kind": "ECI economics monitor",
    "claim": "Test whether revenue continues to absorb rising delivered-capacity costs.",
    "baseline": "Q2 operating income USD974m; compute/revenue 48.1%; GAAP operating margin 8.4%.",
    "due": "Next comparable quarterly disclosure",
    "evidence": "Quarterly results, pp. 158-161",
    "test": "Compare the same expense definitions and quarter lengths. Separate demand, capacity timing and accounting changes.",
    "status": "No management numerical target; not scoreable"
  },
  {
    "id": "ANT-05",
    "kind": "ECI adoption monitor",
    "claim": "Track large-customer breadth without mixing observation dates.",
    "baseline": "More than 6,000 customers at June 30 with at least USD100k TTM revenue. September count is a separate later observation.",
    "due": "Next disclosure using the same definition",
    "evidence": "pp. 149 and 9",
    "test": "Retain the TTM threshold and definition; do not infer retention or per-customer economics from threshold counts.",
    "status": "No management target; not scoreable"
  },
  {
    "id": "ANT-06",
    "kind": "Disclosure follow-up",
    "claim": "Complete the blank latest aggregate commitment and payment-timing amounts in the preliminary summary.",
    "baseline": "June purchase and lease notes are populated; latest aggregate summary fields remain blank.",
    "due": "Next S-1 amendment or final prospectus",
    "evidence": "Prospectus summary, compute commitment discussion",
    "test": "Reconcile dates, scope, payment schedule, conditional amounts and financing options. Missing disclosure remains unverified, not a missed operating promise.",
    "status": "Open disclosure question; outside promise-score denominator"
  }
]