BALANCE SHEET

All checkpoints confirmed. Total assets of $161,412K equal total liabilities of $108,700K plus total stockholders' equity of $52,712K, satisfying the accounting equation.

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COMPARATIVE BALANCE SHEET DATA (FY2023 vs. FY2024)

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FOOTNOTES

[1] Short-Term Investments: Short-term investments of $18,000K consist of US Treasury bills ($12,000K) and certificates of deposit ($6,000K) with original maturities greater than three months but less than twelve months. These investments are classified as held-to-maturity and carried at amortized cost, which approximates fair value. See Structured Data Map, A-046.

[2] Trade Accounts Receivable: Trade accounts receivable are presented net of an allowance for doubtful accounts of $1,138K. Gross trade receivable is $27,850K. The allowance methodology is based on an expected credit loss model under ASC 326, incorporating historical loss rates, current conditions, and forward-looking macroeconomic factors. During FY2024, bad debt expense of $680K was recorded, write-offs of $420K were charged against the allowance, and recoveries of $62K were credited. Net AR of $26,712K produces a DSO of 58 days based on trailing 12-month revenue. See Structured Data Map, A-047 through A-049.

[3] Deferred Commissions: Total deferred commissions of $15,200K ($6,800K current + $8,400K non-current) represent incremental costs of obtaining customer contracts (primarily sales commissions paid upon initial contract execution and renewal) capitalized under ASC 340-40. These costs are amortized over the expected period of benefit, estimated at 4 years based on historical customer lifetime analysis and consistent with the weighted average contract duration including expected renewals. During FY2024, $9,400K of new commissions were capitalized and $7,200K were amortized (included in Sales and Marketing expense on the Income Statement). See Structured Data Map, A-053 and A-070.

[4] Property, Plant and Equipment: Net PP&E of $8,400K comprises the following asset classes:

During FY2024, capital expenditures totaled $3,200K ($2,100K computer equipment, $600K furniture, $500K leasehold improvements). Depreciation expense was $2,000K. Assets are depreciated over useful lives of 3 years (computer equipment), 5 years (furniture), and the shorter of the lease term or useful life (leasehold improvements). See Structured Data Map, A-056 through A-067.

[5] Capitalized Software Development Costs: Net capitalized software of $22,600K comprises gross capitalized costs of $38,200K less accumulated amortization of $15,600K. During FY2024, $9,800K of internal-use software development costs were capitalized under ASC 350-40, and $5,800K of amortization was recorded ($3,360K in COR + $2,440K in R&D). Capitalized costs are amortized over a 3-year useful life on a straight-line basis beginning at general availability. IMT capitalizes costs incurred during the application development stage, including salaries and benefits for engineers directly involved in platform development. Planning and post-implementation costs are expensed as incurred. See Structured Data Map, A-065 and A-066.

[6] Operating Leases: IMT accounts for its operating leases under ASC 842. The primary lease is the Austin headquarters (42,000 sq ft, lease through June 2029). Additional leases include co-working spaces in San Francisco and New York for sales teams. Total ROU assets of $14,200K and total lease liabilities of $15,600K ($3,800K current + $11,800K non-current) are recognized. The difference between ROU assets and lease liabilities reflects the cumulative difference between straight-line lease expense and cash rent payments.

See Structured Data Map, A-068, A-078, and A-083.

[7] Intangible Assets (Patents): Net intangible assets of $3,200K represent 14 granted US patents covering core AI/ML anomaly detection and root-cause correlation algorithms, as well as legal costs associated with 6 pending patent applications. Patents are amortized over their estimated useful life of 15 years. During FY2024, patent amortization was $400K and $600K of new patent costs were capitalized. See Structured Data Map, A-071.

[8] Deferred Revenue: Total deferred revenue of $61,200K ($47,000K current + $14,200K non-current) represents the aggregate amount of subscription and services fees invoiced or collected in advance of satisfaction of performance obligations under ASC 606. Current deferred revenue represents amounts expected to be recognized as revenue within the next 12 months. Non-current deferred revenue of $14,200K represents prepayments on multi-year subscription contracts with terms extending beyond 12 months.

Revenue recognized during FY2024 that was included in deferred revenue at January 1, 2024: $42,400K. Remaining performance obligations (RPO) as of December 31, 2024: $94,000K, of which approximately 62% is expected to be recognized within 12 months and 38% thereafter. See Structured Data Map, A-077 and A-082.

[9] Deferred Tax Liability: The net deferred tax liability of $2,400K arises from temporary differences between GAAP and tax reporting:

See Structured Data Map, A-084.

[10] Entity Structure: IMT is a Delaware C-Corporation incorporated in 2012. The company has a single class of common stock with standard voting rights (one vote per share). There is no preferred stock outstanding. The Board of Directors consists of 5 members: 2 co-founder seats, 2 investor seats, and 1 independent director. See Structured Data Map, Entity Structure Notes.

[11] Accumulated Deficit: The accumulated deficit of ($16,496K) reflects cumulative net losses incurred during IMT's pre-profitability growth phase (2012--2021) partially offset by net income generated in FY2022 ($3,800K), FY2023 ($11,950K), and FY2024 ($15,750K). The FY2024 roll-forward:

See Statement of Stockholders' Equity and Structured Data Map, A-089 through A-091.

[12] Credit Facilities: IMT maintains a $15,000K revolving credit facility with Silicon Valley Bank (now part of First Citizens Bank) that was undrawn as of December 31, 2024. The facility bears interest at SOFR + 2.50%, matures in September 2026, and is secured by substantially all assets of the company. Financial covenants require minimum liquidity of $20,000K and trailing twelve-month revenue of at least $120,000K, both of which were satisfied at year-end. See Structured Data Map, A-133.

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SOURCE REFERENCE INDEX

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