On the record, checkable now: June 2021 to May 2026
June 2021 to May 2026 · May 2026 to July 2026 · July 2026 · July 2026 to August 2026 · August 2026, part 1 · August 2026, part 2 · August 2026 to September 2026 · September 2026 · No date set
| Company | Our call | Checkable from | Days | Checkpoint |
|---|---|---|---|---|
| Tubatu.com | Losing its protection | Unresolved since June 2021, watch through 2026 | 1976 | Resolution of Shenzhen ChiNext IPO filing (approval, rejection, or withdrawal) |
| Teya | Protection under test | unspecified, none since Nov 2021 | 1823 | Next primary funding round or audited EBITDA disclosure |
| Mia.com | Little protection left | No date set, none reported since 2022 | 1428 | Any new funding round, app relaunch, or M&A for the core Mia.com entity |
| Thatgamecompany | Protection under test | unspecified, pending since 2022 | 1428 | Announcement or ship date for the long-teased 'next title' or multiplayer future project |
| MarketsandMarkets | Losing its protection | unconfirmed, signaled Nov 2024 | 727 | Possible IPO filing that would disclose real revenue, margins, and subscription traction |
| DMM Bitcoin | Little protection left | unscheduled, ongoing since December 2024 | 697 | Any retrospective enforcement or asset-recovery disclosure tied to the Lazarus Group attribution |
| Hyperchain | Losing its protection | unspecified, flagged December 2024 | 697 | Confirmation or denial of Lianlian Digitech's reported intent to divest its Hyperchain stake |
| Zensurance | Defensible for now | 2024-2026 | 697 | Amazon Canada preferred provider partnership renewal window |
| Artplant | Little protection left | within 6 months of Jan 2025 wind-down | 666 | Legal confirmation of Artplant's dissolution or asset sale by EG7 |
| Babel Finance | Little protection left | post-March 2025, date unset | 607 | Singapore High Court ruling on the Babel Holding Ltd scheme of arrangement (approve, reject, or liquidate) |
| ISN | Defensible for now | unresolved since March 2025, still pending mid-2026 | 607 | Resolution of Blackstone's reported $6B sale process for ISN |
| Sound Agriculture | Losing its protection | late 2025 to Q1 2026 | 607 | Company-stated profitability milestone disclosure following its December 2024 raise |
| CoinPlug | Little protection left | late 2025 to early 2026 | 576 | Eight-megabank won-stablecoin/DID consortium expected to finalize structure and pick technology partners |
| ContractWorks | Losing its protection | Late 2025 to early 2026 | 576 | Full brand and product folded into Onit's Unity platform |
| Wave Mobile Money | Hard to displace | late 2025/early 2026 | 576 | Senegal decides whether its draft mobile-money transaction tax lands on users or providers |
| Kahoot! | Protection under test | ongoing, filed June 2025 | 515 | Outcome of Kahoot! AS v. CPDlive trademark litigation |
| Love, Bonito Pte Ltd | Losing its protection | Q2 2025 onward | 515 | Kakaku.com's next quarterly earnings release, which will disclose Love Bonito's equity-method P&L for the first time |
| Rebag | Losing its protection | within 6 to 12 months of June 2025 | 515 | Maturity or conversion of Rebag's undisclosed June 2025 convertible note |
| Silverlake Axis | Losing its protection | FY2025 ended June 2025 | 515 | First post-delisting fiscal year (FY2025) financial performance, if ever disclosed publicly |
| Cognition | Losing its protection | within 12-18 months of July 2025 acquihire | 485 | Google's Jules autonomous-agent tier reaching feature parity with Devin |
| LumiraDx Ltd | Little protection left | July 1, 2025 | 485 | French subsidiary merger completion tied to wind-down |
| Nihon Shintatsu Co., Ltd. | Losing its protection | unspecified, filed Sep 2025, still unpriced as of Jul 2026 | 485 | IPO pricing decision on the stalled ~$19M offering |
| Viva Wallet | Losing its protection | ongoing, deadline of 30 July 2025 already passed unresolved | 485 | Resolution (or non-resolution) of the JPMorgan/WRL ownership dispute and the €917M Greek damages claim |
| marginfi | Little protection left | unscheduled, claimed Nov 2025 vs July 2026 | 485 | Resolution of contested MFI/MRGN token launch date and terms |
| ASAPP | Losing its protection | within 6-12 months of mid-2025 | 454 | Next priced funding round expected |
| GreenWaves Technologies | Little protection left | mid-to-late 2025 | 454 | BODACC filing expected to show whether liquidation closed via asset sale (reprise) or full wind-down |
| Hack Reactor | Little protection left | late 2025 to mid 2026 | 454 | Stride Q2 to Q3 FY2026 earnings, watch for a second Galvanize-specific impairment or restructuring language |
| Insurance Australia Group | Hard to displace | December 2025 through August 2026 | 454 | ACCC ruling on IAG's RAC WA acquisition and FY26 full year results |
| Longview Tax (insightsoftware) | Losing its protection | 6-18 months from mid-2025 | 454 | Possible PE exit event (sale, recap, or IPO attempt) for insightsoftware |
| Menza | Losing its protection | within 12-18 months of mid-2025 | 454 | Window for Shopify or Triple Whale to ship native agentic execution (auto-pause ads, auto-draft POs) into their installed base |
| Freedonia Group | Losing its protection | Q3 2025 | 423 | First full year of standalone operations after July 2024 spin-out reports results |
| Minro | Losing its protection | within 6 months of Sep 2025 | 423 | PostHog ships native churn-automation features post-Series E |
| Summa Linguae Technologies | Little protection left | Q3/Q4 2025 | 423 | Next scheduled NewConnect financial filing with audited revenue and AI-data segment breakdown |
| Talent International | Losing its protection | September 2025 | 423 | FY25 full-year results release, which will show gross margin per placement and Avec's share of revenue |
| The Good Glamm Group | Little protection left | Q3-Q4 2025 | 423 | Individual sales of MyGlamm, The Moms Co., Organic Harvest, POPxo and Good Creator Co. to new owners |
| AvidXchange | Losing its protection | within several quarters of Oct 2025 close | 393 | Corpay decision on exercising its buyout option for the remaining 66% stake |
| Passes | Protection under test | next 6-12 months from Oct 2025 | 393 | Ruling, settlement, or discovery leak in Alice Rosenblum v. Passes Inc. CSAM class action |
| Untether AI | Little protection left | ongoing, filed October 2025 | 393 | Bankruptcy estate wind-down, creditor claims and asset liquidation proceedings continue |
| InstantScripts | Losing its protection | within 6-12 months of Nov 2025 | 362 | AHPRA/TGA final ruling on asynchronous prescribing standards |
| illion | Defensible for now | Nov 2025 | 362 | Experian FY26 interim results, next update on AU/NZ integration and headcount |
| 56PINGTAI | Little protection left | unconfirmed, watch through 2025-2026 | 332 | Unverified 2024 claim of a Hong Kong Stock Exchange listing filing, which would force audited financials into public view |
| 58 Daojia | Little protection left | 2025-2026 | 332 | Possible Hong Kong IPO filing after 2023 US listing withdrawal, or confirmed UBTech robot rollout beyond Beijing pilots |
| Aligned Data Centers | Defensible for now | Q4 2025 through 2026 | 332 | DFW03 Mansfield capacity target and Ohio brownfield pre-leasing pace, both signal if demand keeps pace with build-out |
| Amplify | Defensible for now | 2025-2026 school year | 332 | California literacy mandate renewal and screener re-approval cycle |
| Axiom | Losing its protection | H2 2025 - H1 2026 | 332 | Next funding round (Series B or extension) size and lead investor |
| Benson Hill | Little protection left | originally targeted 2025-2026 | 332 | Confluence Genetics herbicide-tolerant soybean variety launch or first customer/acreage disclosure |
| Blueprint Medicines | Defensible for now | Q4 2025 into 2026 | 332 | Cogent files bezuclastinib NDA and FDA sets a review clock |
| Bowery Farming | Little protection left | Dec 2025 | 332 | Completion of Locust Grove, Georgia facility equipment liquidation auction by SecondBloom |
| Brightside Health | Losing its protection | Dec 31, 2025 | 332 | DEA telehealth controlled-substance prescribing flexibilities expire |
| C2FO | Protection under test | Q4 2025 | 332 | IFC-backed Nigeria/Africa platform launch, plus next funding round size as growth signal |
| CSS Corp | Little protection left | 2025-2026 | 332 | Resolution of reported $2.4B acquisition talks for Movate |
| Cape Analytics | Hard to displace | Q4 2025 | 332 | Moody's next earnings call could reveal Cape team retention or RMS absorption plans |
| Changingedu | Little protection left | unscheduled, watch for 2025-26 filings | 332 | Any dated proof the company still operates or has pivoted to a legal vertical |
| Ciklum | Losing its protection | 2025-2026 | 332 | Recognize Partners nears typical 5-6 year PE hold exit window on its Dec 2020 stake |
| CloudMinds | Little protection left | H2 2025 | 332 | Resolution of pending HKEX listing application and 21.76M yuan enforcement order |
| Cloudian | Losing its protection | 2025-2026 | 332 | Next Gartner Magic Quadrant cycle decides whether Cloudian regains Leader or Challenger status |
| Column | Hard to displace | end of 2025 | 332 | Mercury's full migration off Evolve Bank & Trust to Column completes |
| CoolBitX | Losing its protection | H2 2025 | 332 | Wider APAC retail rollout of Ledger Nano Gen5 and Trezor Safe 7 |
| Cue Health Inc. | Little protection left | 2025-2026 | 332 | Bankruptcy trustee's final report on disposition of FDA-cleared IP and hardware assets |
| Cuemath | Little protection left | Q4 2025 | 332 | FY25 financial filing expected via Entrackr/Inc42, showing if loss-narrowing trend continued |
| DMM.com | Hard to displace | 2025 | 332 | DMM Bitcoin asset-transfer wind-down and any residual FSA regulatory findings reach finality |
| DNA Oyj | Hard to displace | Q4 2025, reporting February 2026 | 332 | Telenor ASA's next quarterly report covering the DNA segment |
| Deep Instinct | Little protection left | Q4 2025 to Q1 2026 | 332 | AWS cloud-data-security revenue traction (DSX for S3, ISV Accelerate) needs to show 2-3 quarters of growth |
| Devoteam | Losing its protection | 2025 disclosure | 332 | Amplify 2028 checkpoint: did AI-related revenue hit 12% of total by end of 2024 |
| Dutchie | Losing its protection | 12-24 months from Dec 2025 | 332 | Banking and payments rules normalize as Schedule III implementation proceeds, opening the door for mainstream POS players |
| ETMall (Eastern Home Shopping & Leisure) | Little protection left | 2025 | 332 | Outcome of Chairman Gary Wang's Ko Wen-je bribery case hearings |
| EVA Air | Hard to displace | end of 2025 | 332 | Taiwan Ministry of Labor's ordered performance-review system reforms take effect |
| Emerio | Little protection left | H2 2025 to early 2026 | 332 | Deadline for NTT's global rebrand to fold Emerio into 'NTT Singapore' branding |
| Flatiron School | Little protection left | 2025-2027 | 332 | Carrick Capital's typical private equity hold window closes, forcing a sale, pivot, or wind down decision |
| Freight Farms | Little protection left | 2025-2026 | 332 | Creditor claims process continues in Chapter 7 case 1:25-bk-10908, with two suspended lawsuits that could resurface |
| Globality | Losing its protection | 2025-2026 | 332 | Next funding round: clean up-round versus another flat extension |
| Granicus | Defensible for now | H2 2025 to 2026 | 332 | Resolution of the ~$4B Vista/Harvest sale process for Granicus |
| Guidant Global | Losing its protection | Q4 2025/Q1 2026 | 332 | Resolution of HeadFirst Global's Tranche A convertible note maturity |
| Hensoldt | Hard to displace | 2025-2026 | 332 | Next major Bundeswehr sensor program award naming prime contractor |
| Huisuanzhang | Little protection left | 2025-2026 | 332 | Possible renewed Hong Kong IPO filing after the 2024 attempt was cancelled |
| I.T Limited | Little protection left | 2025-2026 | 332 | CVC's typical private equity hold window opens for a possible sale or exit |
| ITANDI | Defensible for now | Q4 2025 or early 2026 | 332 | GA technologies next earnings release, which will update ITANDI's ARR growth and client count |
| InstaFreight | Little protection left | 2025-2026 | 332 | Outcome of Berlin-Charlottenburg insolvency proceeding and confirmation of operating legal entity |
| Jiuxian | Losing its protection | end of 2025 | 332 | 1919 completes planned closure of 1,500 of its 5,000 stores, testing whether the O2O liquor model still works |
| Korean Air Aerospace Division | Hard to displace | end of 2025 | 332 | LOWUS loyal-wingman drone first flight test |
| Kynetec | Defensible for now | 2025-2026 | 332 | Paine Schwartz's 4-year hold window closes, exit process likely begins |
| Marmalade | Protection under test | H2 2025 | 332 | Markerstudy decision on brand consolidation across Atlanta's personal-lines portfolio |
| Marmoset | Losing its protection | 6-12 months from Dec 2025 | 332 | Marmoset Toolbag 5.x follow-up releases and any Adobe Substance baking/AI feature updates |
| N2Y | Losing its protection | Dec 31, 2025 | 332 | Don Johnston legacy product line sunset, forcing customer migration onto Everway platform |
| Near Pte Ltd | Little protection left | late 2025 through 2026 | 332 | Ongoing Delaware bankruptcy adversary proceedings and SEC/DOJ fraud case developments |
| OrCam Technologies | Little protection left | 2025 | 332 | Resolution of the Clal, Harel, Leumi, Meitav SAFE dispute and search for a $2M bridge loan |
| Paymob | Defensible for now | 2025-2026 | 332 | Series C raise decision, priced against GCC profitability progress |
| Pharmapacks | Little protection left | within 6 months of Sept 2025 | 332 | Further rulings or settlement in Delaware fiduciary-duty derivative suit against former officers |
| Poizon (Dewu) | Protection under test | 2025-2026 | 332 | Possible IPO or dual-listing filing disclosure, currently unverified |
| Poly Technologies | Protection under test | H2 2025 | 332 | Next round of US/EU sanctions listings tied to Russia-Ukraine trade flows |
| SITECH DEV | Little protection left | 2025-2026 | 332 | Any primary-source funding round, acquisition, or operational proof (headcount, factory, sales) surfacing |
| SciFi Foods | Little protection left | 2025-2026 | 332 | Watch whether GFI/Tufts open cell bank spawns a new venture using SCiFi's old cell lines |
| Sentera | Defensible for now | Q4 2025 | 332 | Planned rollout of Sentera-powered bundled subscriptions through Deere dealers |
| Serato | Hard to displace | late 2025 | 332 | Serato DJ 4.0 moves from beta to general release |
| Shulan Health | Protection under test | H2 2025 | 332 | Resolution of HKEX listing status after March 2024 refiling reportedly lapsed |
| TERMINUS Technology | Losing its protection | 2025-2026 | 332 | Planned Hong Kong IPO listing and prospectus disclosure |
| TNG Wallet | Little protection left | unscheduled, check 2025-2026 | 332 | Confirmation on HKMA's SVF licensee list of SVF0003 as active or surrendered |
| Tamara | Protection under test | within 3-year window from Sept 2025 | 332 | Decision on remaining $1B tranche of the Goldman/Citi/Apollo facility, tied to SAMA and lender approvals |
| Tia | Protection under test | Q4 2025 to Q2 2026 | 332 | Series C closing terms and valuation |
| Topica Edtech Group | Losing its protection | 2025-2026 | 332 | Any new funding, leadership, or product announcement breaking the post-2019 press silence |
| Trade Me | Defensible for now | Q4 2025 | 332 | Stuff Digital integration rollout finishes, testing whether combined property/motoring/news audience holds off Facebook |
| Tresorit | Hard to displace | within 6 months of Sept 2025 announcement | 332 | Post-quantum cryptography rollout, announced but not yet live |
| Ubiregi | Protection under test | H2 2025 | 332 | Review of Ubiregi Enterprise tier traction and any new funding announcement since the July 2024 launch |
| Veja | Hard to displace | Q4 2025 | 332 | US tariff rate review on Brazil-origin rubber and leather goods |
| Volaris | Protection under test | within 12 months of Dec 2025 announcement, likely by Q4 2026 | 332 | Mexican antitrust authority decision on the Viva Aerobus merger |
| Wag! Group Co. | Little protection left | Q4 2025 or Q1 2026 | 332 | First post-emergence quarterly results under Retriever LLC ownership |
| Yang Kee Logistics | Little protection left | 2025-2026, pending | 332 | UOB defamation lawsuit against ex-CEO Ken Koh and related MAS regulatory review proceed |
| Yayoi | Losing its protection | unannounced, expected FY2025-2026 | 332 | Release of a cloud version of Yayoi Kaikei Next for sole proprietors, still unshipped as of April 2025 |
| Yidian Zixun | Little protection left | 2025-2026 | 332 | Possible US regulatory action on NewsBreak following 2024 congressional scrutiny of its shared roots with Yidian |
| Yipin Shengxian | Little protection left | 2025-2026 | 332 | Any public funding round, store-count update, or wind-down confirmation surfacing after six years of silence |
| Zacks Investment Research | Losing its protection | 2025-2026 | 332 | Trouy v. Zacks class action over 2024 breach proceeds in N.D. Ill. |
| Zumper | Protection under test | ongoing since Sept 2025 | 332 | FTC antitrust case against Zillow/Redfin could reshape rental search competition |
| eHarmony | Little protection left | late 2025 | 332 | ACCC ruling on eHarmony's auto-renewal subscription case |
| 2U | Little protection left | expected within months of Jan 2026 | 301 | Class-certification ruling in Luna v. USC diploma mill lawsuit |
| Anchore | Losing its protection | Jan 2026 | 301 | DoD Software Fast Track (SWFT) standing requirement takes effect |
| Ansarada | Protection under test | 1 Jan 2026 | 301 | Australia's new merger control regime takes effect, reshaping deal volumes in Ansarada's core ANZ market |
| Chainguard | Losing its protection | FY2026 (by Jan 2027) | 301 | Chainguard reports progress toward its $100M ARR FY2026 target, or a new valuation round |
| China Broadnet (China Broadcasting Network) | Protection under test | January 2026 | 301 | Guoan Broadcasting secondary transaction, watch for consolidation versus asset restructuring away from Broadnet |
| Cygnet Infotech | Protection under test | January 2026 | 301 | Belgium's B2B e-invoicing mandate takes effect, testing Cygnet's cross-border push |
| Deepgram | Losing its protection | 12-18 months from Jan 2026 | 301 | Whether OpenAI Realtime API becomes default choice for new voice-agent builds |
| EdgeDB | Little protection left | already passed, January 31, 2026 | 301 | Deadline for existing users to complete migration off Gel Cloud to Postgres, Neon, or Supabase |
| Evidation | Losing its protection | Jan 2026 | 301 | Temporal Proteomics Platform launch and early biopharma adoption results |
| Guild Education | Losing its protection | January 2026 | 301 | Guild's return-to-office mandate takes effect, testing retention after a low-favorability CEO transition |
| Humanloop | Little protection left | reported January 2026, unconfirmed | 301 | Possible integration of Humanloop-style eval features into Anthropic Console |
| KnowBe4 | Protection under test | mid-January 2026 | 301 | Amended complaint deadline in federal securities class action, In re KnowBe4 Securities Litigation |
| Lami | Protection under test | Jan 2026 | 301 | FSD Africa's 3iF fund portfolio picks, which will show if investors still back Lami |
| M-Pesa | Hard to displace | late 2026 into January 2027 | 301 | Court of Appeal ruling on Beluga royalty case and Airtel Kenya license renewal |
| Mayflower | Losing its protection | January 2026 | 301 | Six months into YC F25 batch, deadline to show a named attorney partner, customer, or HR integration |
| Mogu (Mogujie) | Little protection left | Nov 2026 to Jan 2027 | 301 | H1 FY2027 results showing whether the RedNote MCN business can offset core-platform decline |
| MoneyGram | Losing its protection | January 2026 | 301 | 1% US remittance excise tax takes effect, squeezing cash-transfer margins |
| Omnipresent | Little protection left | January 2026 | 301 | Completion of customer and payroll migration into Deel's systems |
| Remilk | Losing its protection | January 2026 | 301 | The New Milk expands from foodservice into major Israeli retail chains |
| Ruby Lane | Losing its protection | Jan 26, 2026 | 301 | USPS shipping-calculation change forces new third-party shipping workaround |
| Sciloop | Little protection left | Jan 2026 | 301 | Open-source Logics-STEM reasoning dataset release, which could commoditize large-scale STEM problem sets |
| Sri Chaitanya Educational Institutions | Losing its protection | Jan 2026 | 301 | Supreme Court coaching-center rules compliance review deadline |
| Talent.com | Losing its protection | January 2026 | 301 | Indeed Connect ATS integration rollout |
| WTOIP | Little protection left | January 2026 | 301 | CNIPA's new Patent Examination Guidelines with AI-native processes take effect |
| Wrike | Protection under test | January 2026 | 301 | Wrike's new pricing model with AI usage quotas rolls out |
| XForcePlus | Protection under test | January 1, 2026 | 301 | China's VAT Law Implementation Regulations take effect, reshaping compliance requirements sector-wide |
| Yulchon LLC | Hard to displace | January 2026 | 301 | Korea AI Basic Act enforcement begins, testing whether AI-governance advisory demand offsets billable-hour erosion |
| archTIS | Losing its protection | Aug 2026 to Jan 2027 | 301 | FY2026 full year results, plus CBA debt tranches maturing |
| 4A Games | Protection under test | winter 2026 or Feb 2027 (sources disagree) | 270 | Metro 2039 launch window |
| APA Group (APA Hotel) | Hard to displace | late Feb 2026 | 270 | FY2025 results and next JCR rating review of overseas debt |
| Astronergy | Losing its protection | Feb 6, 2026 | 270 | Section 201 US tariff provision expires, resetting import cost structure for module makers |
| Berlitz | Losing its protection | Feb 2026 | 270 | Quad Partners/Colbeck ownership hits 4-year mark, a typical point for refinancing or resale |
| Boryung Pharmaceutical | Defensible for now | within 6 to 12 months of Feb 2026 | 270 | Kanarb price-cut appeal ruling |
| ChowNow | Protection under test | Feb 17, 2026 | 270 | Owner.com vs ChowNow litigation case management conference |
| Chubu Electric Power Co., Inc. | Defensible for now | within 6 months of Feb 2026 suspension | 270 | NRA penalty determination and third-party investigation findings on Hamaoka nuclear safety-data falsification |
| Comdata | Losing its protection | February 2026 | 270 | 12-month window for Kolibri or Salesforce-partnership deals with published, outcome-based pricing to appear |
| Criteria Corp | Losing its protection | February 2026 | 270 | Colorado's AI-hiring law takes effect, testing whether compliance certs like ISO 42001 become mandatory or just nice-to-have |
| DeepScribe | Losing its protection | Feb 2026 | 270 | Epic AI Charting ships as free bundled feature inside Epic EHR |
| Farfetch | Losing its protection | Feb 2026 | 270 | US-Korea regulatory review of Coupang, including House Judiciary hearing |
| Fauna | Little protection left | no confirmed date as of Feb 2026 | 270 | Promised open-source release of Calvin protocol and FQL, still undelivered |
| Fawry | Hard to displace | February 2026 | 270 | CBE national Soft POS rollout that could commoditize Fawry's merchant acceptance edge |
| Gati Ltd | Little protection left | Jan-Feb 2026 | 270 | Allcargo Logistics reports Q3 FY26 results showing whether the Express segment stabilizes or keeps shrinking |
| House of Anita Dongre Ltd | Losing its protection | February 2026 | 270 | Next ICRA credit rating update and FY26 revenue result |
| IncidentFox | Little protection left | within 60-90 days of Feb 2026 | 270 | Deadline for IncidentFox to announce a priced seed round, a named enterprise design partner, or clarify its archived repo |
| J. Front Retailing | Defensible for now | after FY2026 (fiscal year ending Feb 2027) | 270 | New medium-term growth plan unveiling and Daimaru Umeda renovation payoff |
| Japan Broadcasting Corporation (NHK) | Hard to displace | Feb 2026 | 270 | Milano Cortina Winter Olympics tests NHK ONE's combined broadcast-streaming rollout |
| Kajeet | Losing its protection | February 2026 | 270 | FCC E-Rate cut to school bus Wi-Fi and off-campus hotspots takes effect, and Connected Communities program uptake becomes visible |
| Kanebo Cosmetics Inc. | Protection under test | Feb 2026 | 270 | Kao FY2025 year end results, first checkpoint on KANEBO Thailand growth vs K27 target |
| Majorel | Little protection left | February 2026 | 270 | Teleperformance's strategic transformation review concludes, expected to state Majorel's fate |
| Marcum LLP | Little protection left | Feb 2026 | 270 | Motions live in Lateral Investment Management v. Marcum litigation |
| NFI Industries | Hard to displace | February 2026 | 270 | 10% global IEEPA tariff takes effect, hitting NFI's retail and automotive freight customers |
| Nexo | Losing its protection | Aug 2026 to Feb 2027 | 270 | US Bakkt-partnered lending model needs to clear its first stretch without SEC or state action |
| NotCo | Losing its protection | 2026, paused since February | 270 | Kraft Heinz decides whether to proceed with its corporate split, which affects the NotCo joint venture |
| Olympus Corporation | Protection under test | February 2026 | 270 | Resolution of FDA import alert on Japan-made Olympus products and FY2026 Q3 earnings update |
| Oyster | Losing its protection | February 2026 | 270 | Deel vs Rippling litigation motion status update |
| Qantas Airways | Hard to displace | ~February 2026 | 270 | Next ACCC domestic airline competition report, testing whether Virgin's share gain held or reversed |
| Quantium | Hard to displace | February 2026 | 270 | Woolworths Group half-year results, where Quantium ownership and investment plans get disclosed |
| Redis | Losing its protection | February 28, 2026 | 270 | Redis Software 7.2 reaches end of life, forcing a customer migration decision |
| Regard | Losing its protection | within 12 months of Feb 2026 | 270 | Whether Epic extends AI Charting to diagnosis-recommendation/HCC capture, swallowing Regard's core wedge |
| Salesforce | Defensible for now | Sep 2026 - Feb 2027 | 270 | September 2026 Agentforce event and Q3/Q4 FY27 earnings on AI-monetization and net retention |
| Shiksha.com | Losing its protection | Jan/Feb 2026 | 270 | Info Edge Q3 FY26 earnings, watch Shiksha revenue and traffic trend |
| StackPath | Little protection left | outcome still unconfirmed as of mid-2026, deadline was Feb 19, 2025 | 270 | Resolution of Hilco Streambank's binding bid sale for StackPath patents, software, and trademarks |
| Symbo Insurance | Little protection left | Feb 2026 / FY24 filing | 270 | India's broker-registration and FDI rule changes take effect, and next SIIB annual filing shows revenue trend |
| Thai Airways International | Losing its protection | February 2026 | 270 | First post-listing share lock-up expiry, which could pressure the stock independent of operations |
| University of Hong Kong | Hard to displace | Feb 2026 | 270 | Hong Kong government's annual Budget setting the next funding envelope for public universities |
| World Co., Ltd. | Defensible for now | Feb 2026, results visible Apr-Jun 2026 | 270 | Right-on delisting completes and its results start flowing into consolidated numbers |
| XAG | Losing its protection | Feb 2026 | 270 | P150 Max drone launch in the US market |
| Zama | Losing its protection | end-2026 mainnet; Feb 2, 2027 unlock | 270 | Mainnet launch target and Feb 2 token-unlock cliff |
| Zee Learn Limited | Little protection left | Feb 2026 or later | 270 | FY2026 standalone audit report, which could finally clear or repeat the DVPL guarantee qualification |
| Zopa | Hard to displace | Dec 2026/Feb 2027 | 270 | FCA motor-finance redress Upper Tribunal ruling on provision adequacy |
| dari.dev | Little protection left | Feb 2026 | 270 | Microsoft Agent Framework reaches release candidate, competing directly on deployment and orchestration |
| A.M. Best | Hard to displace | FY ending March 2026 | 242 | Japan's J-ICS solvency regime takes effect, testing A.M. Best's rating actions on Japanese insurers |
| AMA Education System | Losing its protection | Q1 2026 | 242 | STI's next quarterly enrollment and earnings disclosure, watched against AMA's 2026 tuition discount cycle |
| AdMaster | Little protection left | Q1 2026 | 242 | BlueFocus's next earnings call or filing naming AdMaster's role inside BlueAI |
| Airswift | Defensible for now | Q1 2026 | 242 | Next quarterly bond filing showing revenue and EBITDA trend against sector capex cycle |
| Ajinomoto Co. | Hard to displace | Q1 FY2026 results, around August 2026 | 242 | Ajinomoto Malaysia Berhad take-private vote and next quarterly earnings |
| Alteryx | Losing its protection | 12-24 months from March 2026 | 242 | Evidence of named paid customers choosing Alteryx over Databricks/Snowflake for AI governance reasons |
| Animaker | Losing its protection | Q1 2026 | 242 | Steve.AI AI Marathon feature rollout and Animaker 3.0 retention results |
| AnterAja | Protection under test | Q1 2026 | 242 | ASSA FY2025 audited results testing whether AnterAja's Q2 2024 profit swing holds |
| Antiy Labs | Losing its protection | Q1 2026 | 242 | Next Antiy CERT annual threat report release, and continued US Treasury sanctions decisions on Chinese cybersecurity vendors |
| Anto Biosciences | Losing its protection | within 6 months of March 2026 preprint | 242 | Darwin-40B release and head to head benchmark against Evo2-40B |
| Anywhere Real Estate | Little protection left | Q1-Q2 2026 | 242 | First Compass earnings calls covering the combined entity, testing agent retention and $255M synergy target |
| Approxima | Losing its protection | Q1 2026 | 242 | Follow-on seed round decision after YC Demo Day |
| Arm Holdings | Hard to displace | March 2026 | 242 | Qualcomm countersuit appeal ruling on Arm's royalty enforcement rights |
| Auckland Airport | Hard to displace | Q1 2026 | 242 | Commerce Commission Information Disclosure and cost-of-capital consultation outcomes |
| Balance | Losing its protection | H2 2026 to Q1 2027 | 242 | Series A raise, likely gated on 12-month retention data |
| Beam Benefits | Losing its protection | H2 2026 through Q1 2027 | 242 | Deal closing and first integration decisions on rebrand, tech stack, and staffing |
| Beumer Group | Hard to displace | March 2026 | 242 | FY2025 order-intake results and EU General Court ruling on BEUMER's antitrust suit against the Vanderlande-Siemens deal |
| Bitazza | Losing its protection | March 22, 2026 | 242 | Thai regulatory block on bitazza.com/Bitazza Global takes effect |
| Bitrise | Losing its protection | March 2026 | 242 | GitHub Actions cuts macOS/self-hosted runner pricing to $0.002/min |
| Blue Yonder | Hard to displace | March 2026 | 242 | Gartner Magic Quadrant refresh for WMS and Supply Chain Planning |
| Bowtie | Hard to displace | Q1 2026 | 242 | Next Insurance Authority quarterly distribution channel statistics release |
| Brainly | Losing its protection | Q1-Q2 2026 | 242 | White House free access rollout (TX, FL, GA) either converts to paid school district contracts or stays a free giveaway |
| BreatheHR | Losing its protection | Q1-Q2 2026 | 242 | Expected timeline for Rotageek AI integration into Breathe's core product |
| Brevo | Defensible for now | Q1 2026 | 242 | 2025 full year results confirming €200M+ ARR and double digit EBITDA under new PE ownership |
| Bridgit | Losing its protection | Q1 2026 | 242 | Procore reports Workforce Management module traction in quarterly earnings call |
| Bright Health Group | Little protection left | Q1 2026 | 242 | Next quarterly earnings showing whether positive adjusted EBITDA holds without further headcount cuts |
| Brightcove | Little protection left | late 2026 or Q1 2027 | 242 | Bending Spoons files its first 10-Q as a public company, which should show Brightcove's revenue trend |
| Brightflag | Defensible for now | Q1 2026 | 242 | WKL earnings disclosure on Brightflag's ROIC progress and product strategy versus TyMetrix |
| Buffer | Defensible for now | Q1 2026 | 242 | Sprout Social Q1 2026 earnings, signaling whether it moves back downmarket |
| Bureau van Dijk | Hard to displace | Q1 2026 | 242 | Moody's Analytics Q1 2026 earnings commentary on Orbis/KYC growth and margins |
| Carbon | Losing its protection | Q1-Q2 2026 | 242 | Confirmation of the November 2025 'close to cash-flow positive' claim, plus next financing round |
| Cart.com | Losing its protection | within 6-12 months of March 2026 | 242 | Disclosure of profitability milestone or next funding round valuation |
| Chamber | Losing its protection | March 2026 | 242 | Nvidia GTC roadmap announcements on agentic Run:ai features |
| Chasi | Losing its protection | March 2026 | 242 | YC W26 Demo Day, where Chasi's traction and customer claims get public scrutiny |
| Chief | Losing its protection | Q1-Q2 2026 | 242 | Member growth and renewal data from the January 2026 Core relaunch |
| Clad Labs | Little protection left | Q1 2026 | 242 | Public launch beyond closed beta and any disclosed retention or paying-user data |
| Class101 | Losing its protection | Q1 2026 | 242 | Full-year 2025 operating profit or loss result reported |
| Codes Combine Co., Ltd. | Protection under test | mid-March 2026 onward | 242 | FY2025 earnings print and subsequent 2026 quarterly filings |
| Coding Dojo | Little protection left | Q1 2026 | 242 | Perdoceo Q1 2026 earnings call, watch for Coding Dojo being singled out or folded into CTU segment reporting |
| ConvertKit | Protection under test | Q1-Q2 2026 | 242 | Two quarters of post-price-hike net dollar retention data become visible |
| Coocaa | Protection under test | Q1 2026 | 242 | Skyworth Group full-year results filing showing whether EBIT decline continues |
| Corelayer | Protection under test | March 2026 | 242 | Y Combinator W26 Demo Day and resulting seed round |
| Cornell University | Defensible for now | Q1 2026 | 242 | Next quarterly compliance certification under the Nov 2025 federal funding settlement |
| Country Road Group | Little protection left | March 2026 | 242 | Woolworths Holdings FY2026 half-year result and carrying-value reassessment of CRG |
| Creative Juice | Little protection left | through Q1 2026 | 242 | Rho's next funding round or any public reinvestment signal for the Creative Juice/getjuice.com brand |
| Crosslayer Labs | Losing its protection | March 2026 | 242 | YC W26 Demo Day and expected seed round |
| Cybage Software | Losing its protection | Q1-Q2 2026 | 242 | Next two quarters of Revelio Labs headcount data, plus any productization news from new Global President Badhri Krishnamoorthy |
| DACHSER | Hard to displace | Q1 2026 | 242 | DACHSER's legacy IT platform stops onboarding new customers as migration to new system completes |
| DWF Labs | Protection under test | Q1-Q2 2026 | 242 | Senate Banking Committee action on the CLARITY Act, plus resolution of the WLFI/USD1 investigative thread |
| DappRadar | Little protection left | unresolved as of March 2026 | 242 | DAO decision on RADAR treasury (wipeout, conversion, or acquisition) |
| Daz 3D | Losing its protection | March 2026 | 242 | Meta, Nvidia and Roblox face class actions over scraped 3D training data |
| DeCurret | Losing its protection | FY2026 (ends March 2027) | 242 | Japan Post Bank's planned DCJPY tokenized-deposit rollout across its ¥190T deposit base |
| Deliveroo | Protection under test | Q1 2026 | 242 | DoorDash's first full-quarter earnings report covering integrated Deliveroo operations |
| Dematic | Hard to displace | Q1 2026 (reported ~May 2026) | 242 | KION Q1 2026 earnings show whether the 50.5% order-intake surge converts to revenue and margin |
| Denim | Losing its protection | Q1-Q2 2026 | 242 | Truckstop discloses post-integration headcount and product roadmap for Denim |
| Digipals | Losing its protection | Q1 2026 | 242 | Public iOS/Android launch and first week-4 retention cohort data |
| EDF (Électricité de France) | Hard to displace | Q1 2026 audit, late 2026 financing terms | 242 | DINN government audit of EPR2 cost estimate reports, plus final state financing terms for EPR2 |
| EIS Group | Losing its protection | H2 2026 to Q1 2027 | 242 | CoreGentic new-logo wins tracked against Guidewire and Duck Creek |
| EVERFI | Little protection left | Q1 2026 | 242 | Blackbaud 10-K expected to disclose identity and plans of EVERFI's new private owner |
| Egon Zehnder | Hard to displace | March 2026 | 242 | FY2025 annual results release |
| Ellassay Fashion Group Co., Ltd. | Losing its protection | Q1 2026 | 242 | FY2025 annual report and Q1 2026 earnings, testing whether the profit recovery holds |
| Emplifi | Little protection left | Q1 2026 / Q1 FY2027 | 242 | Sprout Social and Sprinklr earnings show if the growth gap versus Emplifi widens |
| Enel Green Power | Hard to displace | Q1-Q2 2026 | 242 | Quarterly results testing execution of the €20B, +15 GW 2026-2028 renewables capex plan |
| EvenUp | Protection under test | March 2026 | 242 | Preliminary injunction ruling in EvenUp v. Butler Labs (Eve Legal) trade-secret case |
| Evisort | Defensible for now | Q1 FY27 (2026) | 242 | Workday earnings call where CLM/Contract Intelligence is or isn't named as a growth driver |
| Examity | Little protection left | March 31, 2026 | 242 | Full Examity exam catalog migration to ProctorU platform completes |
| Exoscale | Losing its protection | Q1-Q2 2026 | 242 | Swiss Government Cloud vendor selection and EU sovereign-cloud tender awards |
| Farmers Business Network | Losing its protection | Q1 2026 | 242 | First post spin-off quarterly results showing marketplace gross margin after Global Crop Solutions separation |
| Fed10 | Protection under test | Sept 2026 to March 2027 | 242 | FiscalNote resolves its strategic options review after NYSE delisting |
| Fisker Inc. | Little protection left | Q1 2026 | 242 | Next Fisker Liquidating Trust quarterly operating report showing remaining cash and distributions |
| Foot Locker, Inc. | Protection under test | Q1 FY2026 (spring 2026) | 242 | DICK'S reports next quarterly earnings with Foot Locker Business comp sales vs 1.5-3% FY2026 guidance |
| Forcepoint | Losing its protection | March 23-26, 2026 | 242 | RSA Conference 2026, where Microsoft and rivals will show next AI-governance features |
| Furla S.p.A. | Little protection left | Q1-Q2 2026 | 242 | Resolution of formal debt-restructuring talks with bank creditors |
| Gamgee | Losing its protection | within 12 months of March 2026 | 242 | Window closes if Gamgee has not filed a USDA CVB regulatory pre-submission |
| Genians | Defensible for now | Q1-Q2 2026 | 242 | Next 1-2 quarterly earnings disclosures showing verified non-Korea revenue split and whether FY2025's flat revenue continues into 2026 |
| GoodLeap | Losing its protection | Q1 2026 | 242 | Next ABS securitization performance report showing whether tranche payment stress continues |
| Goodreads | Defensible for now | Mar 2026 | 242 | Apple Books iOS 27 AI reading coach and narration features roll out |
| Green Man Gaming | Protection under test | Q1 2026 | 242 | Q1 2026 revenue data testing Grips Intelligence's 0-5% growth forecast |
| HMD Global | Losing its protection | March 2026 | 242 | Nokia smartphone brand license expires, forcing HMD to drop the name or exit smartphones |
| Hauri Inc. | Little protection left | Q1 2026 | 242 | Next VB100 certification cycle for ViRobot Security |
| Health2Sync | Losing its protection | Q1-Q2 2026 | 242 | First post-IPO TPEx quarterly filings expected to confirm or refute revenue and clinic retention |
| Heidrick & Struggles | Defensible for now | Q1-Q2 2026 | 242 | First post-buyout results and partner retention signals under Advent/Corvex ownership |
| Hidden Road | Losing its protection | March 2026 | 242 | Coinbase Prime Unified Cross-Margin launch |
| Hinduja Global Solutions (HGS) | Losing its protection | Q1 FY27 (by Sep 2026) | 242 | FY27 Q1 results on NXTDIGITAL media/broadband turnaround or divestiture decision |
| HoloBuilder | Losing its protection | Q1 2026 | 242 | AMETEK earnings commentary on FARO INSIGHT unit strategy and Sphere XG rollout progress |
| HyperX | Defensible for now | Q1 FY2026, around March 2026 | 242 | HP fiscal Q1 2026 earnings, first full quarter reporting after the OMEN into HyperX brand merger |
| Hypercubic | Protection under test | Q1-Q2 2026 | 242 | IBM's next watsonx Code Assistant for Z release, expected to test native terminal/JES agentic action |
| IFS | Defensible for now | Q1 2026 | 242 | Softeon acquisition expected to close, testing supply chain AI integration |
| IKS Health | Protection under test | Q1 FY27, ~Aug 2026 | 242 | First quarterly print showing TruBridge contribution, combined margins, and debt-service trajectory |
| Icarus | Losing its protection | late 2026 to Q1 2027 | 242 | Decision on whether the Valiant Shield Guam demo converts into a funded Army program of record |
| Igloo Software | Losing its protection | Q1-Q3 2026 | 242 | Appspace's decision on whether Igloo stays a distinct product or gets fully absorbed into its unified platform |
| InShot | Little protection left | March 2026 | 242 | CapCut's AI-native platform expansion, watch whether it accelerates or stalls |
| Industrial and Commercial Bank of China (ICBC) | Hard to displace | Q1 2026 | 242 | FY2025 annual results already show NIM compression; watch Q1 2026 results for stabilization |
| Infinera | Protection under test | Q1 2026, late April or early May | 242 | Nokia reports Q1 2026 results showing Optical Networks organic growth and integration loss trend |
| Infogram | Losing its protection | March 2026 | 242 | Infogram's next public product or usage update, likely around its annual anniversary post |
| Instinct | Little protection left | March 2026 | 242 | YC W26 Demo Day, when funding and public traction signals typically surface |
| Intellias | Losing its protection | Q1-Q3 2026 | 242 | Japanese OEM contract results from Tokyo office, testing automotive SDV pivot |
| Interbrand | Losing its protection | Q1 2026 | 242 | Omnicom Q1 2026 earnings, first full post-merger quarter showing whether Brand Consulting Group grows or shrinks |
| JUST Egg | Losing its protection | Q1-Q2 2026 | 242 | Just Meat sell-through results at Walmart and H-E-B stores |
| JUUL Labs | Losing its protection | March 2026 | 242 | Direct-purchaser antitrust class action against Altria tied to JUUL faces certification |
| Japan Post Bank | Hard to displace | FY2026 (by March 2027) | 242 | FY2026 target date for DCJPY tokenized-deposit launch |
| Jenius | Losing its protection | Q1 2026 | 242 | Bank SMBC Indonesia Q4 2025 / Q1 2026 earnings disclosure on Jenius credit and deposit growth |
| Jobrapido | Little protection left | March 31, 2026 | 242 | Indeed's organic feed policy change takes effect |
| Kindbody | Little protection left | Q1-Q2 2026 | 242 | Outcome of the $75M preferred-stock raise to existing shareholders |
| Ko-fi | Losing its protection | Q1 2026 | 242 | Next read on Patreon's paying-creator trend after its fee changes, plus any Ko-fi funding or vertical-tooling announcement |
| Kyowa Kirin | Hard to displace | March 2026 | 242 | Rocatinlimab discontinuation write-off expected to show up in quarterly results |
| LAC Co., Ltd. | Hard to displace | Q1 FY2026 (mid-2026) | 242 | KDDI's next segment-level financial disclosure showing whether LAC runs as a growth unit or a cost line |
| LHH | Protection under test | Feb/Mar 2026 | 242 | Q1 2026 Adecco Group results showing whether LHH segment margin holds near 8.3% or converges toward group average |
| LINE Pay | Defensible for now | Q1 FY2026 | 242 | LINE Pay Taiwan files its first post-IPO Q1 results as a standalone TWSE company |
| Labelbox | Protection under test | March 2026 | 242 | Preliminary injunction hearing in V7 trade-secret lawsuit |
| Lacework | Losing its protection | Q1-Q2 2026 | 242 | Fortinet's next earnings calls, watch for FortiCNAPP growth disclosure or silence |
| Lamoda | Losing its protection | Q1 2026 | 242 | Next quarterly growth comparison between Ozon fashion vertical and Lamoda category growth |
| Le Wagon | Protection under test | March 2026 | 242 | First cohort results from Tomorrow University joint AI Bachelor's degree |
| Loft | Losing its protection | March 18, 2026 | 242 | Banco Central Copom rate decision, which moves mortgage origination volume |
| Magaya | Protection under test | late 2026 into Q1 2027 | 242 | ACEbridge AI agent adoption data expected as it moves past pilot stage |
| Malt | Protection under test | Q1/Q2 2026 | 242 | 2025 full-year GMV and revenue disclosure, tests the €1B target |
| Marigold | Little protection left | Q1 2026 | 242 | Zeta Global's first full quarter reporting the $190M+ Marigold revenue contribution |
| MatchMove | Losing its protection | March 2026 | 242 | Window for Visa/Mastercard stablecoin card rail rollout to show measurable volume impact |
| Mathspace | Losing its protection | Q1 2026 | 242 | BETT UK 2026 Innovation Award outcome and next US state curriculum adoption decisions |
| Mayo Clinic | Hard to displace | Q1 2026 | 242 | Next quarterly EMMA/MSRB municipal bond disclosure on core healthcare margin |
| Medable | Protection under test | Q1 2026 | 242 | SCOPE and JPM Healthcare conferences where a fresh funding or acquisition signal could surface |
| Mediaset España Comunicación, S.A. | Protection under test | Q1 2026 | 242 | MFE FY2025 results, first full quarter with ProSiebenSat.1 consolidated, showing whether Spain is further deprioritized |
| Metaco | Losing its protection | Q1 2026 | 242 | BitGo's first public quarterly custody AUC and revenue disclosure |
| Moesif | Protection under test | March 2026 | 242 | WSO2 unified API Platform reaches general availability |
| Moka POS | Losing its protection | Q1 2026 | 242 | GoTo Group's next annual or merchant-segment financial disclosure |
| Munhwa Broadcasting Corporation (MBC) | Losing its protection | March 2026 | 242 | CEO succession vote under the new 13-member Foundation board's 3/5 supermajority rule |
| NH Hotel Group | Defensible for now | Q1 2026 | 242 | FY2025 annual consolidated report from Minor Hotels Europe & Americas |
| Nankai Electric Railway | Hard to displace | Q1 FY2026, around August 2026 | 242 | First post-Expo quarterly results showing whether FY2025 tourism revenue holds or reverts to pre-Expo levels |
| Neoris | Losing its protection | Q1 2026 | 242 | EPAM's next quarterly earnings report covering the Ibero-America/NEORIS segment headcount and revenue-per-employee |
| Netlight Consulting | Protection under test | March 30, 2026 | 242 | New CFO Håkan Fältmars starts, first financial disclosures expected after |
| New England Biolabs | Hard to displace | March 2026 | 242 | New India subsidiary opens, testing demand outside the US/EU academic base |
| Novus International | Hard to displace | March 2026 | 242 | Novus, Inc. v. USA trade litigation ruling, plus outcome of the 2025 methionine/specialty P&L split |
| Nykaa | Protection under test | Q1 FY27, reported around August 2026 | 242 | Q1 FY27 results reporting actual GMV growth against ~30% pre-guidance |
| Objectivity | Protection under test | Q1 FY2026 (Dec 2025 report) | 242 | Accenture FY2026 Q1 results and any further restructuring or Wrocław headcount disclosures |
| Odakyu Electric Railway | Hard to displace | March 2026 | 242 | Hakone Tozan Line single-crew operation rollout |
| Offchain Labs | Losing its protection | March 17, 2026 through March 2027 | 242 | SEC/CFTC token taxonomy guidance takes effect, plus ARB token unlock schedule continues |
| Officevibe | Losing its protection | Q1-Q2 2026 | 242 | Barley integration ships or stalls; watch for a fourth PE-backed acquisition |
| OneConnect Financial Technology | Little protection left | Q1 2026 | 242 | Ping An Group's next annual report, the only remaining source of OneConnect financial disclosure post-delisting |
| OneDegree | Defensible for now | Q1 2026 | 242 | Full-year 2025 profitability confirmation |
| Open Access BPO | Little protection left | Q1 2026 | 242 | TDCX's next consolidated earnings report, first full period to show Open Access BPO headcount and revenue trends |
| Orca Security | Losing its protection | March 2026 | 242 | RSAC 2026: Orca shows its Agentic Cloud Security Platform and AWS collaboration deal |
| Otto Group | Losing its protection | 1 March 2026 | 242 | New OTTO board chair, Foundation chair, and CEO all take their posts |
| OutSystems | Losing its protection | Q1 2026 | 242 | Gartner Magic Quadrant for Enterprise Low-Code Application Platforms publishes next edition |
| Outdoor Voices | Little protection left | Q1 2026 | 242 | Sam's Club under-$25 capsule sell-through and reorder data becomes visible |
| Parade | Losing its protection | Q1 2026 to early 2027 | 242 | Syndication API v2 general availability and Mudflap integration checkpoint |
| Peraton | Protection under test | Q1-Q2 2026 | 242 | FAA BNATCS 'No Excuses' clause delivery checkpoint and private-credit refinancing terms |
| Phoenix Media Investment (Holdings) Limited | Little protection left | Q1 2026 | 242 | Phoenix New Media (FENG) Q1 2026 guidance on AI-driven engagement and licensing revenue |
| Photon Infotech | Protection under test | Q1 2026 | 242 | Next headcount tracker update (Revelio Labs) showing whether the 6,716 global count keeps growing or stalls |
| Playvox | Little protection left | Q1 2026 | 242 | NICE quarterly earnings call where it states plans for Playvox inside CXone Mpower |
| Poshmark | Protection under test | Q1 2026 | 242 | Naver's next annual disclosure of Poshmark GMV and seller trends under new CEO Namsun Kim |
| Princeton University | Hard to displace | June-July 2026 through Q1 2027 | 242 | Federal court rulings on grant funding litigation, plus FY2026-27 endowment tax impact |
| Printful | Losing its protection | Q1 2026 | 242 | FYUL House headquarters move-in target, watch for delays |
| Printify | Losing its protection | Q1-Q2 2026 | 242 | FYUL headquarters consolidation in Riga completes and Q2 store-growth numbers land |
| Pristyn Care | Losing its protection | Q1 2026 | 242 | FY25 (ended March 2025) financial filings surface, showing whether losses fell ~60% as guided |
| Private Division | Little protection left | March 2026 | 242 | Reported Tales of the Shire Switch port (unverified listing) |
| Privy | Hard to displace | Q1 2026 | 242 | Stripe's next public update on Privy's standalone status and stablecoin roadmap |
| RAM Ratings | Hard to displace | Q1-Q2 2026 | 242 | CTOS Digital FY2025/2026 earnings reveal RAM's post-restructuring financial contribution and ownership status |
| RCN Televisión S.A. | Losing its protection | around March 31, 2026 | 242 | FY2025 results release, testing whether mid-2024 ad growth held or reversed |
| Raymond Limited | Protection under test | Q1 FY27, August 2026 | 242 | Next quarterly results showing aerospace margin trend and JK Maini Global Aerospace carve-out progress |
| Re:amaze | Protection under test | Q1-Q2 2026 | 242 | GoDaddy Q1-Q2 2026 earnings calls: watch for Re:amaze mentions vs Airo.ai airtime |
| Recraft | Losing its protection | late 2026 to Q1 2027 | 242 | Expected Series C raise or next ARR disclosure, given 14+ months since Series B with no new round |
| Repsol | Hard to displace | March 10, 2026 | 242 | Repsol presents updated 2026-2028 strategic and financial targets |
| Ritivel | Losing its protection | Q1-Q2 2026 | 242 | Expected seed round decision following YC W26 Demo Day |
| Roboteam | Losing its protection | Q1 2026 | 242 | Next competitive USMC or NATO UGV tender outcome, plus Ondas Q1 2026 earnings on Roboteam's revenue pacing |
| RunAnywhere | Losing its protection | March-April 2026 | 242 | Cactus Compute's Qualcomm/Hexagon NPU support launch, a rival chasing the same cross-platform wedge |
| SEW-Eurodrive | Hard to displace | March 2026 | 242 | VDMA Q1 2026 order data release, watched for German machinery demand direction |
| SPH Media Limited | Protection under test | Feb-Mar 2026 and Feb-Mar 2027 | 242 | FY26/27 government budget cycle: KPI review and funding disbursement decision |
| Secoda | Losing its protection | Q1-Q3 2026 | 242 | Atlassian TEAM earnings calls disclosing Rovo adoption and Secoda team retention |
| SellerX | Little protection left | Q1 2026 | 242 | BlackRock TCP Capital's next BDC reporting cycle and SellerX CEO appointment decision |
| Sencrop | Protection under test | Q1 2026 | 242 | One-year mark since Isagri acquisition closes; headcount and roadmap trend become visible |
| Sequretek | Losing its protection | Q1-Q2 2026 | 242 | Union Budget 2026-27 cybersecurity policy and any new Sequretek funding round or US logo disclosures |
| Showcase Gig | Defensible for now | Q1/Q2 2026 | 242 | Glory's quarterly earnings disclosure on O:der segment growth |
| Sigma Software Group | Losing its protection | Q1 2026 | 242 | 2025 full-year revenue growth print against the stated 15%+ target |
| Simpleshow | Protection under test | Q1-Q2 2026 | 242 | D-ID integration decisions on brand, layoffs, and product roadmap after the ~$60M acquisition closes |
| Simplilearn | Little protection left | March 2026 | 242 | FY26 results and IPO filing status, targeted for end of FY26 |
| SingleStore | Losing its protection | Q1 2026 | 242 | Next quarterly ARR and win/loss update versus Lakebase adoption |
| SmartAsset | Losing its protection | expected March 2026, overdue as of July 2026 | 242 | AMP two-year performance update showing referral volume and advisor churn |
| Sofatutor | Protection under test | Q1-Q2 2026 | 242 | FY2024 German corporate filings become public, clarifying real revenue and profit |
| SoftBank Group | Losing its protection | fall 2026 IPO target, bridge due March 2027 | 242 | OpenAI IPO target and $40B bridge facility maturity |
| Solarisbank | Protection under test | Q1 2026 | 242 | Full-year 2025 results confirming or denying promised profitability under CEO Steffen Jentsch |
| Speak | Losing its protection | Q1 2026 | 242 | Duolingo's next quarterly earnings report showing AI feature engagement and ARPU |
| Spencer Stuart | Hard to displace | Q1 2026 | 242 | Heidrick & Struggles PE buyout by Advent/Corvex expected to close, reshaping competitor set |
| Spring | Little protection left | Q1 2026 | 242 | Amaze Holdings Q1 2026 audited earnings, flagged by management as the profitability test |
| Standard Chem & Pharm | Defensible for now | Q1 2026 | 242 | Next TWSE quarterly earnings release and 2026 dividend announcement |
| State Bank of India | Hard to displace | Q1 FY27, mid 2026 | 242 | Q1 FY27 earnings release, watched for net interest margin trend and treasury losses from RBI forex rules |
| Stäubli Robotics | Hard to displace | Q1 2026 | 242 | FL1500 AMR customer delivery results and pace of adoption |
| Sun Basket | Little protection left | Q1 2026 | 242 | HelloFresh completes global AI recipe rollout |
| Sunnova Energy | Little protection left | Q1 2026 | 242 | Ongoing WARN Act litigation and bankruptcy claims administration in Case No. 25-90160 |
| Supergoop! | Losing its protection | Q1-Q2 2026 | 242 | Target national rollout results and Amazon Premium Beauty storefront performance |
| Synthesis AI | Little protection left | Q1 2026 | 242 | Globant's Q4 2025 or Q1 2026 earnings call or SEC filing clarifying deal structure |
| Taiwan Ratings Corporation | Hard to displace | March 2026 | 242 | Finalization of TRC's bank-ratings methodology change, which could trigger a wave of rating actions on Taiwanese banks |
| Takenaka Corporation | Hard to displace | Q1 2026 | 242 | FY2025 full-year results confirm whether the forecasted revenue decline was order restraint or lost share |
| Tally | Little protection left | Q1 2026 | 242 | Pagaya and LendingClub earnings reports that might disclose revenue tied to the absorbed Tally technology |
| Tatcha | Protection under test | Q1 2026 earnings call | 242 | Unilever names (or omits) Tatcha as a Prestige growth driver in earnings commentary |
| Tealium | Losing its protection | Q1 2026 | 242 | Gartner Magic Quadrant for CDPs refresh |
| Telegram | Losing its protection | March 2026 | 242 | Maturity of the 2021 vintage bonds, currently frozen under sanctions |
| Traackr | Losing its protection | Q1 2026 | 242 | Next funding event: watch for priced equity round versus more debt, and any Q1 2026 revenue or customer count update |
| Tripledot | Losing its protection | Q1-Q2 2026 | 242 | First two to three quarters of AppLovin studio integration reporting (revenue hold, attrition, no writedown) |
| Trucker Tools | Protection under test | Q1 2026 | 242 | Roper's next earnings call on DAT segment performance and AI monetization progress |
| Turkcell | Hard to displace | Q1 2026 | 242 | Google Cloud Ankara data center construction begins |
| Turtlemint | Losing its protection | Q1 FY27 (starting April 2026) | 242 | FY27 quarterly operating profit checks begin, testing management's no-tax-credit profitability target |
| UDA Technologies | Protection under test | early 2026 through Q1 2027 | 242 | IBS 2026 Orlando and the following 2-3 release cycles: does UDA ship any generative-AI feature |
| Uniphore | Losing its protection | Q1-Q2 2026 | 242 | Integration results from four pending acquisitions (ActionIQ, Infoworks, Orby AI, Autonom8) and any disclosed customer wins or losses versus NICE/Cognigy |
| VSCO | Protection under test | late 2026 through Q1 2027 | 242 | macOS Studio Pro version ships, plus Pro subscriber and Táve retention numbers come in |
| Veepee | Protection under test | Q1-Q2 2026 | 242 | FY2025 annual results, showing whether growth held or brand contracts slipped to Zalando Lounge |
| Versa Networks | Losing its protection | mid-2026 to Q1 2027 | 242 | Next Gartner SASE Magic Quadrant cycle plus any new funding round or S-1 filing |
| Vinci SA | Hard to displace | March 2026 | 242 | London Gatwick full-year 2025 results disclosure, plus closing of nine-toll-road India acquisition from Macquarie |
| Vultr | Losing its protection | Q1 2026 | 242 | Ohio 50MW GPU cluster go-live with zero signed customers at announcement |
| Wardstone | Losing its protection | H2 2026 to Q1 2027 | 242 | Space Force affordability review and next Golden Dome SBI contracting round |
| Wistia | Hard to displace | March 2026 | 242 | Legacy per-video plans retire under new storage-based pricing model |
| WithSecure | Protection under test | Q1 2026 | 242 | FY2025 full-year results and first update on CPSF share of revenue under new private ownership |
| Xianyu (Idle Fish) | Hard to displace | Q1 2026 | 242 | Enforcement effects of China's new tax-reporting rule (Decree 810) on informal seller volume become clear |
| XiaoZhu | Protection under test | Q1 2026 (Lunar New Year travel season) | 242 | Next disclosed GMV/booking update during a major China travel holiday, or any new funding/IPO filing |
| Yageo Corporation | Defensible for now | Q1 2026 | 242 | Shibaura Electronics formal consolidation into Yageo after delisting |
| Yahoo! Auctions Japan | Defensible for now | Q1 FY2026, August 2026 | 242 | LY Corporation next quarterly earnings covering Reuse segment and Kakaku.com integration |
| Yamaha Motor Robotics | Defensible for now | Q1 FY2026, Jan-Mar 2026 | 242 | Yamaha Motor FY2026 Q1 earnings testing whether the Robotics segment recovers after FY2025 impairment losses |
| Yubo | Losing its protection | Q1-Q2 2026 | 242 | First post-pivot DAU and revenue figures since the November 2025 18+-only transition |
| Z-kai (Zoshinkai Holdings) | Defensible for now | March 2026 | 242 | 2026 Todai and Kyodai admissions results announced, testing whether Benesse's AI tutor narrows the gap |
| Zeekr | Losing its protection | March 2026 | 242 | Geely Auto (HKEX:0175) FY2025 annual results, first full report after Zeekr merger completion |
| Zeta | Protection under test | March 2026 | 242 | Confirmation of Zeta's promised profitability target |
| Zhong Lun Law Firm | Hard to displace | March 30, 2026 | 242 | King & Wood Mallesons formal dissolution, which could trigger a wave of partner moves across Chinese firms |
| athenahealth | Hard to displace | March 2026 | 242 | HIMSS 2026 conference where AI and interoperability roadmaps get compared publicly |
| igus | Hard to displace | March 2026 | 242 | 2025 full-year results release |
| Ørsted | Losing its protection | March 2026 | 242 | BOEM's 90-day suspension order on Revolution Wind runs out |
| 6 River Systems | Little protection left | FY2026 results, early 2027 | 211 | Ocado Group next annual report disclosing OMRS standalone revenue and growth |
| AES | Protection under test | late 2026 to early 2027 | 211 | Expected close of GIP/EQT take-private deal pending federal, state, and foreign regulatory approvals |
| ASM Pacific Technology | Defensible for now | 22 April 2026 | 211 | Q1 2026 earnings report, plus outcome of SMT Solutions strategic review |
| Ai-Media Technologies | Losing its protection | April 2026 | 211 | HaaS encoder transition launches at NAB Show |
| Alight Solutions | Protection under test | April-May 2026 | 211 | Q1 2026 earnings and 2026-2027 renewal cohort (revenue-under-contract) disclosure |
| Allen Career Institute | Losing its protection | April 2026 | 211 | Decision on Allen's planned Mumbai IPO |
| Amanotes | Losing its protection | April 2026 | 211 | Balancy live-ops integration results across the portfolio become visible |
| Ami Colé | Little protection left | April 2026 | 211 | Verification of residual Sephora.com listings and $32K monthly e-commerce activity flagged by analytics tools |
| Ascott Limited | Hard to displace | April 2026 | 211 | Amadeus CRS and Accenture agentic-commerce rollout begins |
| Ashampoo | Losing its protection | late 2026 or early 2027 | 211 | Next annual refresh cycle for Photo Commander, WinOptimizer, and AI features like ANALOG and ZOOM |
| Automatic Data Processing | Hard to displace | late April 2026 | 211 | Q1 FY2026 earnings report |
| Axios Media Inc. | Losing its protection | late 2026 to early 2027 | 211 | OpenAI partnership renewal window |
| Basis Technologies | Losing its protection | Apr 2026 | 211 | Basis launches Compass, its own agentic planning tool |
| Beacon Health | Losing its protection | late 2026 to early 2027 | 211 | CMS RADV audit outcomes for AI-touched risk-adjustment coding |
| Benesse Holdings | Losing its protection | April 2026 | 211 | Shinken Zemi High School full AI-driven relaunch and its enrollment outcome |
| Berkshire Grey | Protection under test | April 13-16, 2026 | 211 | Scoop trailer-unloader demo and customer response at MODEX trade show |
| Biocon | Defensible for now | April 2026 | 211 | FDA Pre-License Inspection outcome for pending US biosimilar launches |
| BitSight Technologies | Losing its protection | late 2026 to early 2027 | 211 | New CEO John Clancy's 'AI-driven growth mandate' plays out; watch for a Moody's buyout, PE recap, or fresh priced round |
| BlueGrace Logistics | Losing its protection | late 2026 to early 2027 | 211 | BlueGrace builds and ships its first product layer on top of LSP44 |
| Bluecore | Losing its protection | late 2026 to early 2027 | 211 | Insider One completes Bluecore integration decisions and files for IPO |
| Bright Food Group | Losing its protection | April 2026 | 211 | Synlait North Island asset sale to Abbott targeted to close, testing whether core China dairy losses persist |
| Chandler MHM | Hard to displace | late 2026 / early 2027 | 211 | Next Chambers and Legal 500 Asia Pacific rankings cycle |
| Chaos | Protection under test | April 2026 | 211 | Zero Density partnership debut for virtual production/XR at NAB Show |
| Chili Piper | Losing its protection | April 2026 | 211 | Platform relaunch, 'Meet the New Chili Piper Platform' |
| China Maple Leaf Educational Systems | Losing its protection | ~April 2026 | 211 | H1 FY2026 interim results, watched for school count stabilization and real operating profit |
| CivicPlus | Defensible for now | April 24, 2026 | 211 | ADA/WCAG Title II compliance deadline for large jurisdictions, a tailwind CivicPlus is chasing via its Streamline acquisition |
| Civica | Hard to displace | April 2026 | 211 | FY25 statutory accounts due, showing recurring software revenue trend |
| Cleerly | Losing its protection | late 2026 to early 2027 | 211 | Markman hearing and preliminary injunction motions in HeartFlow v. Cleerly, E.D. Texas |
| Clubhouse | Little protection left | April 2026 | 211 | X Communities shutdown could shift remaining live-audio users to other platforms |
| Coalition | Protection under test | April 14, 2026 | 211 | Coalition's Activate 2026 conference in New York, likely venue for product and partnership news |
| CoinTracker | Losing its protection | April 2026 through 2027 | 211 | 2025 tax season filings due, first real test of 1099-DA overhaul, plus Coinbase partnership renewal window |
| Commonwealth Fusion Systems | Losing its protection | late 2026/early 2027 | 211 | SPARC first plasma and Q>1 net-energy-gain demonstration |
| Commure | Losing its protection | late 2026 to early 2027 | 211 | Expected ruling in Adaptamed trade-secret lawsuit against Commure |
| ConcertAI | Losing its protection | late 2026/early 2027 | 211 | Tempus AI's Personalis acquisition expected to close, testing account wins against ConcertAI |
| Cooley LLP | Defensible for now | April 2026 | 211 | China tightens rules on offshore listing vehicles, a possible hit to Cooley's cross-border IPO pipeline |
| Cresta | Losing its protection | within 12 months of Apr 2026 | 211 | Resolution of ARR gap ($52M Latka estimate vs $100M Cresta claim) in audited disclosure, plus any second NICE/Genesys peer acquisition |
| Currencycloud | Protection under test | mid-2026 to early 2027 | 211 | Visa Direct Connect consolidation determines which teams survive into the core product |
| Denso Robotics | Hard to displace | April 2026 | 211 | Denso FY2026 year-end financial results, which may reveal FA/robotics segment trends |
| Dentsu Inc. | Losing its protection | early FY2026 | 211 | New CEO Takeshi Sano reveals refreshed international strategy |
| Dollar General | Hard to displace | late Aug/early Sept 2026 | 211 | Q2 FY2026 earnings test whether raised guidance holds as SNAP cuts and gas prices squeeze shoppers |
| Dome | Little protection left | April 28, 2026 | 211 | Dome's standalone APIs go fully end-of-life and traffic redirects to Polymarket's native API |
| Dongfeng Motor Corporation | Losing its protection | April 2026 | 211 | Beijing Auto Show, where the Huawei-built Epicland X9 faces its first public reception test |
| DoorLoop | Losing its protection | mid-2026 to early 2027 | 211 | Likely new funding round given ~20-month raise cadence since Series B |
| Dr. Martens plc | Protection under test | late 2026 / early 2027 | 211 | H1 FY27 trading update and full results |
| Drew & Napier | Hard to displace | early 2026 | 211 | Formal filings expected in Swiss AT1 bondholder claim against Switzerland |
| ElasticRun | Losing its protection | late 2026 or early 2027 | 211 | FY26 audited annual results test whether operating profit holds without rising quick-commerce burn |
| Encora | Losing its protection | late 2026 to early 2027 | 211 | Coforge FY27 Q1 and Q2 results, first full quarters with Encora consolidated |
| Esperanto Technologies | Little protection left | early 2026 | 211 | Ainekko's planned test tape-out combining Esperanto cores with Veevx MRAM |
| FACEIT | Losing its protection | April 2026 | 211 | FACEIT Season 8 rating system rollout and player retention test |
| Flipkart | Hard to displace | late 2026/early 2027 | 211 | Flipkart's IPO DRHP filing and planned stock market listing |
| Frontier Communications | Defensible for now | late 2026 or early 2027 | 211 | Verizon's first formal integration and headcount announcement for Frontier |
| Frontline Education | Hard to displace | April 2026 | 211 | Frontline's relaunched Recruiting and Hiring system and new AI features roll out to districts |
| Gap | Losing its protection | late Aug/early Sept 2026 | 211 | Q2 FY2026 earnings, plus Athleta comps and Section 122 tariff relief expiry |
| Glenmark Pharmaceuticals | Defensible for now | late 2026 or early 2027 | 211 | Hartford antitrust trial (33 generic-drug defendants) expected to begin |
| Great Place To Work | Hard to displace | April 2026 | 211 | 2026 Fortune 100 Best Companies to Work For list release |
| Groove HQ | Little protection left | late 2026 to early 2027 | 211 | Helply's first independently verified revenue and retention numbers due |
| Han Kun Law Offices | Hard to displace | April 2026 | 211 | Hangzhou and London office openings reach first profitability checkpoint |
| Howden Group Holdings | Hard to displace | early 2026 | 211 | FY2025 full-year results release, showing organic growth and margin trends |
| Iconik | Losing its protection | April 2026 (NAB) | 211 | NAB or IBC trade show where Adobe/Frame.io could unveil hybrid-storage MAM with native Firefly-grade AI |
| Image-Line (FL Studio) | Hard to displace | early 2026 | 211 | FL Studio Web moves from beta to full public launch |
| Imprivata | Hard to displace | mid-2026 to early 2027 | 211 | Thoma Bravo sale process expected to conclude, new owner picked |
| Indium Software | Losing its protection | early-to-mid 2026 | 211 | FY26 revenue target of roughly Rs 1,300 crore ($150M) reports |
| Intel 471 | Protection under test | mid-2026 to early 2027 | 211 | Thoma Bravo's ownership hits year 5, raising odds of a sale, dividend recap, or exit process |
| Jam City | Losing its protection | 12 months from April 2026 | 211 | Kabam/Jam City shared-CEO arrangement either formalizes into a merger or doesn't |
| Jones Day | Hard to displace | April-September 2026 | 211 | 2026 Am Law 200 rankings release, showing whether revenue-per-lawyer gap to Kirkland/Latham widened |
| Juro | Losing its protection | April 2026 | 211 | Launch of Juro's Operator agentic AI agent |
| KLA | Hard to displace | late April 2026 | 211 | Q3 FY2026 earnings report |
| Keyframe Labs | Losing its protection | within 6-12 months of April 2026 | 211 | Keyframe's $500K convertible note needs to convert via a priced round |
| Kijiji | Losing its protection | April 2026 | 211 | Interac bank-grade identity verification rollout for high-value listings |
| Kinect | Little protection left | within 12 months of Kinect's April 2026 launch | 211 | Whether Shopify ships a native agent-ready storefront or agentic-commerce protocol |
| Kissei Pharmaceutical | Defensible for now | 2026, within 6-12 months of April 27, 2026 filing | 211 | FDA decision on proposed TAVNEOS (avacopan) withdrawal, plus EMA CHMP review outcome |
| Kohl's | Losing its protection | late Aug/early Sept 2026 | 211 | Q2 FY2026 back-to-school earnings, test of whether Q1's -1.1% comp improvement holds |
| Korean Broadcasting System (KBS) | Defensible for now | April 29, 2026 | 211 | KBS board vote on whether to void President Park Jang-beom's appointment |
| Koyfin | Losing its protection | April 30, 2026 | 211 | Fidelity custodian integration expected to close, and Pro plan migration cutoff |
| KreditBee | Defensible for now | late 2026 or early 2027 | 211 | DRHP filing ahead of planned IPO |
| Kyash | Little protection left | April 2026 | 211 | Cashback rate on credit-funded balances drops to 0% |
| LINE Works | Hard to displace | April 2026 | 211 | LINE WORKS Roger v1.3 update and continued AiStudio rollout |
| Liberty University | Hard to displace | June 2026 / April 2026 | 211 | Title IX whistleblower suit stipulation deadline and Dept of Education Clery Act monitoring period end |
| Lido | Losing its protection | around April 2026 | 211 | VanEck Lido Staked ETH ETF S-1 decision |
| Lusha | Losing its protection | early 2026 | 211 | Ruling on motion to dismiss in Hutchings v. Lusha Systems privacy class action |
| Made Tech | Losing its protection | April 2026 | 211 | UK government Spending Review budget allocations released, could tighten or loosen contract flow |
| MaestroQA | Protection under test | mid-2026 to early 2027 | 211 | Rippit rebrand's 6 to 12 month window to show new logos or conversation-analytics revenue |
| Magnite | Hard to displace | early 2026 | 211 | Google ad-tech antitrust remedies ruling |
| Manicule | Losing its protection | late 2026 to early 2027 | 211 | Manicule's expected seed or Series A round after YC |
| Mapúa University | Hard to displace | April 2026 | 211 | iPeople FY2025-26 annual report, testing margin impact of forced calendar reversal |
| Merck KGaA (MilliporeSigma) | Hard to displace | late 2026 or early 2027 | 211 | Bio-Techne acquisition expected to close |
| Metalpha Technology Holdings | Losing its protection | early 2026 | 211 | Exos Financial/BlockchainK2 US joint venture MOU due to convert to a definitive agreement |
| Meter | Protection under test | early 2026 | 211 | Promised hardware refresh ships and Lumen's WAN/LAN offer goes live on Microsoft Marketplace |
| MikroTik | Defensible for now | April to July 2026 | 211 | FCC foreign-made-router rule takes effect, could cut US market access |
| Mori Hamada & Matsumoto | Hard to displace | early 2026 | 211 | 2026 Japan M&A league table rankings published, testing whether MHM holds #1 |
| NEC Solution Innovators | Defensible for now | April 2026 | 211 | NEC's AI Platform Service rollout and mid-term management plan completion |
| Neo Global Development | Little protection left | within 6 months of April 2026 | 211 | Giveback II governance vote resolves founder control, board independence, and token redistribution |
| Nestlé | Defensible for now | April 16, 2026 | 211 | Annual General Meeting and dividend vote (CHF 3.10/share proposed) |
| Ninja | Losing its protection | late 2026 or early 2027 | 211 | Targeted Tadawul IPO listing, banks already engaged |
| Okta | Hard to displace | late Aug/early Sept 2026 | 211 | Q2 FY2027 earnings, watch RPO growth versus revenue growth for signs of share loss to Entra |
| Parler LLC | Little protection left | late 2026/early 2027 | 211 | Planned NYSE or Nasdaq public listing that would force audited financials |
| PayIt | Losing its protection | April 2026 | 211 | Toronto Auditor General follow-up report on PayIt-related procurement, watch for spillover to other jurisdictions |
| Percona | Protection under test | mid-2026 to early 2027 | 211 | OpenEverest adoption check after CNCF donation |
| Personalis | Losing its protection | late 2026 or early 2027 | 211 | Shareholder vote and regulatory clearance for Tempus AI acquisition expected to close |
| Pet Circle | Losing its protection | April 2026 | 211 | FY2025 financial results filing, showing whether losses widen or narrow |
| Playrix | Losing its protection | April 2026 | 211 | Supercell launches Hay Day Match, a decoration-meta rival to Gardenscapes/Homescapes |
| Polaris Inc. | Protection under test | around April 28, 2026 | 211 | Q1 2026 earnings call, covering tariff costs and covenant headroom |
| Propine | Losing its protection | April 2026 | 211 | Komainu CORE collateral-as-a-service launch and any Asia mandate wins reported |
| Qfang | Little protection left | April 2026 | 211 | China's next monthly NBS property market data release |
| Radiology Partners | Losing its protection | late 2026 / early 2027 | 211 | 11th Circuit ruling on Aetna's fraud appeal against Radiology Partners |
| RamAIn | Little protection left | late 2026 to early 2027 | 211 | Window to close a priced seed round or narrow to a regulated vertical with named customers |
| Rapyuta Robotics | Losing its protection | April 2026 | 211 | MODEX 2026 logistics trade show, a test of US pipeline conversion via Panasonic channel |
| Rating and Investment Information, Inc. (R&I) | Hard to displace | April 2026 | 211 | FSA finalizes bank regulatory capital instruments rating methodology rules |
| Renesas Electronics | Protection under test | April 2026 | 211 | Q1 FY2026 earnings report showing whether automotive MCU share loss to Infineon continues |
| Riskcovry | Losing its protection | late 2026 to early 2027 | 211 | Series B closing (or continued absence) after the $4.5M bridge meant to reach it |
| Rockchip | Defensible for now | August 2026 (earnings); 6-12 months from April 2026 for new chips | 211 | Q2 2026 earnings report, plus RK3668/RK3688 tape-out and launch timeline |
| SOURCE Global | Little protection left | 2026, ongoing as of April 2026 | 211 | Resolution of Worldwide Solutions Group v. Proud Source Water litigation |
| Scaler | Protection under test | late 2026 to early 2027 | 211 | FY26 audited revenue filings from RoC show if the AI/enterprise pivot reverses the FY25 decline |
| Scope Ratings | Defensible for now | April 2026 | 211 | ESMA open call for evidence on restricted-subscription and private credit ratings |
| Sentrial | Little protection left | late 2026 to early 2027 | 211 | Expected Series A raise, which will show whether Sentrial has moved off generic horizontal positioning into a defensible vertical |
| Shufti Pro | Losing its protection | late 2026 to early 2027 | 211 | Expected Series B or acquisition announcement |
| Speechify | Losing its protection | April 2026 / late 2026 | 211 | Cedar Lane Technologies patent suit answer due; Speechify Work's first revenue signals |
| Spherion Staffing | Losing its protection | April 2026 | 211 | Randstad Q1 2026 earnings report, showing whether North America momentum holds |
| Swvl Holdings Corp | Losing its protection | within 6 months of April 2026 | 211 | Next Nasdaq market-value compliance deadline likely to recur given ~$14M market cap |
| Synthesio | Losing its protection | April 16, 2026 | 211 | Ipsos Q1 2026 earnings call, first guidance under Horizons 2030 plan |
| Taiwan Railways Administration | Defensible for now | early 2026 | 211 | FY2025 financial results release, key checkpoint toward the positive cash flow 2026 target |
| Taxfix | Losing its protection | April 2026 | 211 | UK Making Tax Digital mandate hits sole traders over £50k, testing Taxfix's MTD product against demand |
| Thirty Madison | Little protection left | late 2026 to early 2027 | 211 | Remedy Meds targets an IPO for the combined entity |
| Tradeshift | Protection under test | April 1, 2026 | 211 | Poland's KSeF e-invoicing mandate goes live for all companies |
| TransferGo | Losing its protection | mid-2026 to early 2027 | 211 | First-year retention data from TransferGo's GoCard and Griffin-backed business account launch |
| TravelPerk | Losing its protection | early 2026 | 211 | SAP Concur/Amex GBT's rumored agentic-AI platform launch |
| Trello | Losing its protection | late Aug/early Sept 2026 | 211 | Atlassian Q4 FY2026 earnings call, watch for Trello-specific disclosure or Teamwork Collection consolidation |
| Triumph Motorcycles Ltd | Hard to displace | April 2026 | 211 | Launch of the 350cc Bajaj-Triumph range, tested against Royal Enfield's India dominance |
| Union Pacific | Hard to displace | late 2026 to early 2027 | 211 | STB ruling on the Norfolk Southern merger after supplemental filings |
| Upscale AI | Losing its protection | late 2026 / early 2027 | 211 | SkyHammer's first commercial shipment and any named hyperscaler design win |
| UserVoice | Little protection left | within 90 days of April 7, 2026 | 211 | Confirmation of the reported Curious holding company acquisition and whether it brings new capital or cost cuts |
| Uzabase | Protection under test | April 2026 | 211 | Logmi acquisition scheduled to close, testing data roll-up integration under Carlyle ownership |
| VAST Data | Hard to displace | late 2026 to early 2027 | 211 | IPO-readiness target and possible filing |
| Vestiaire Collective | Losing its protection | FY2026 results, expected early 2027 | 211 | Vestiaire's first full-year audited profit result and Vinted's next update on verification adoption for items under 2,000 euros |
| Waymo | Defensible for now | late 2026 to early 2027 | 211 | Tesla FSD v15 release and driverless scale test; also Waymo's 1 million weekly ride target check |
| WeVideo | Losing its protection | April 2026 | 211 | Free tier removed, pushing all users to paid Creator or Instructor plans |
| Weerawong C&P | Defensible for now | late 2026 / early 2027 | 211 | Chambers and Legal 500 practice-area band refresh |
| Whitespace | Protection under test | within 18-24 months of April 2026 | 211 | Epicor or Infor shipping their own native agent modules for legacy ERP customers |
| Xpanceo | Losing its protection | end 2026 / early 2027 | 211 | First fully integrated prototype due, followed by founder public demo |
| YOOBIC | Losing its protection | early 2026 | 211 | Shoprite 3,600-store rollout completion and ROI check |
| Ynsect | Little protection left | early 2026 | 211 | Possible fertilizer focused spin off announcement from liquidation proceedings |
| Yunnan Botanee Bio-Technology Co., Ltd. (Winona) | Losing its protection | April 2026 | 211 | FY2025 full-year revenue and profit results |
| thirdweb | Little protection left | April 2026 | 211 | Legacy API deprecation deadline hits, testing developer retention right as funding runway questions peak |
| Advantech | Hard to displace | May 29, 2026 | 181 | AGM shareholder vote on dividend policy and new board election |
| Anderson Mori & Tomotsune | Hard to displace | May 2026 | 181 | Amended FIEA tender-offer rules take effect, reshaping M&A advisory demand |
| Appier | Losing its protection | May 2026 | 181 | Q1 FY26 earnings report, first test against ¥54B FY26 revenue guidance |
| Armature | Losing its protection | within 6-12 months of May 2026 | 181 | Window closes if Datadog or Latitude ships a dedicated MCP agent-experience feature |
| Axelar | Little protection left | May 2026 | 181 | Governance vote on discontinuing Flow, Berachain, and Plume integrations |
| BeiGene | Defensible for now | May 2026 | 181 | AbbVie patent litigation ruling expected |
| Boba | Little protection left | May 2026 | 181 | Optimism's Jovian hardfork, which sets the upstream roadmap Boba's tech depends on |
| Built With | Defensible for now | May 2026 | 181 | Shopify's llms.txt rollout could make tech-stack data self-published and free |
| Bunq | Protection under test | May 29, 2026 | 181 | FY2025 annual report showing fraud-loss trend and confirmed profit figure |
| Cambly | Losing its protection | May 22, 2026 | 181 | California tutor misclassification settlement final approval hearing |
| Canto | Losing its protection | May 2026 | 181 | Aprimo's native AI agent protocol rollout, a feature Canto has not yet matched |
| China Distance Education Holdings | Protection under test | May 2026 | 181 | China's AI-agent regulatory framework starts applying to real-world products, testing how it touches education tools |
| Clark | Losing its protection | May 2026 | 181 | Clark Holding SE restructuring and finanzen.de merger process concludes |
| CyberArk | Defensible for now | May 2026 | 181 | Palo Alto Networks Q3 FY2026 earnings, next integration cost and headcount update |
| DBRS Morningstar | Hard to displace | May-Aug 2026 | 181 | Morningstar Inc. next quarterly earnings disclosing Credit segment performance |
| DMG Mori Co. | Hard to displace | May 1, 2026 | 181 | DMG Mori FY2026 Q1 earnings release |
| Daicel Corporation | Hard to displace | May 2026 | 181 | FY2026/3 full-year results and 'Accelerate 2030' progress update |
| Dayjob | Losing its protection | May 2026 | 181 | Dayjob's stated target of $1M ARR |
| Dell'Oro Group | Hard to displace | Feb/May/Aug/Nov 2026 | 181 | Quarterly AI RAN and data center capex report releases |
| Digicel Group | Losing its protection | May 2026 | 181 | Refinancing of ~$2.3B debt due |
| East West Ave Acquisition Corp. | Little protection left | Nov 2026 to May 2027 | 181 | Business-combination deadline expires if no merger is announced |
| Epic Systems | Hard to displace | May 15, 2026 | 181 | Texas AG antitrust suit answer deadline |
| Erebor | Losing its protection | May 6, 2026 | 181 | Erebor's deadline to respond to Senate Banking Committee (Warren) investigation into charter approval |
| Experian | Hard to displace | May 2026 discovery close, results Nov 18 2026 | 181 | CFPB lawsuit discovery concludes, plus half-year results |
| Firstmeridian Business Services | Losing its protection | around May 2026 | 181 | FY26 annual results showing IT staffing revenue trend and OPBDIT margin |
| Follett Corporation | Defensible for now | May 2026 | 181 | Resolution of ShinyHunters breach claim covering ~4M student records |
| Freetrade | Protection under test | May 2026 | 181 | IG Group FY2026 results disclosing Freetrade loss trajectory and brand strategy |
| GCash | Hard to displace | October 2026 (may slip to 2027) | 181 | Mynt's planned IPO on the Philippine Stock Exchange |
| Gilead Sciences | Hard to displace | 2026 (post May 6 oral argument) | 181 | California Supreme Court ruling on TDF/Truvada 'delayed safer drug' liability theory |
| Grin | Losing its protection | May 2026 | 181 | Rollout of free self-serve and AI-usage-based pricing completes |
| Halfbrick Studios | Losing its protection | May 28, 2026 | 181 | Console/PC launch of Bluey's Quest for the Gold Pen by the post-layoff team |
| Higher Logic | Protection under test | May 2026 | 181 | Vanilla MCP server launch and early churn/NRR readout |
| Humwork | Protection under test | May 2026 | 181 | Anthropic's Project Deal agentic marketplace experiment, watched for signs of native escalation features |
| Itochu Techno-Solutions (CTC) | Hard to displace | May 2026 | 181 | FY2026 full-year results (year ended March 2026), testing whether backlog growth continues |
| Kaspersky | Losing its protection | May 2026 | 181 | EU Council cyber-sanctions regime renewal decision, watch for direct Kaspersky naming |
| Kin | Defensible for now | Jun 2026 to May 2027 | 181 | 2026 Atlantic hurricane season plus reinsurance renewal cycle |
| Kin Insurance | Defensible for now | May-Nov 2026 | 181 | 2026 Atlantic hurricane season and wildfire season test loss ratios against a $1.6B reinsurance tower |
| Kore.ai | Losing its protection | May 2026 | 181 | Artemis cross-framework governance platform launch and early enterprise adoption signals |
| Lingoda | Losing its protection | May 2026 | 181 | Lingoda Intelligence rebrand rollout, watch for retention/revenue proof |
| Lyra Health | Protection under test | May 2026 | 181 | Lyra AI reaches general availability, testing whether AI-assisted therapy holds up to liability and regulatory scrutiny |
| Mandom Corporation | Losing its protection | May 2026 | 181 | FY2026 full-year results, testing whether the guidance cut was a floor or a continuing slide |
| Meiji Yasuda Life Insurance Company | Hard to displace | FY2026 results, May 2027 | 181 | Banner Life and Allstate voluntary-benefits integration results feed into StanCorp financials |
| Metricool | Losing its protection | within 12 months of May 2026 launch | 181 | Rivals (Buffer, Hootsuite, Sprout) matching Metricool Studio's AI-reporting and MCP features |
| Miltenyi Biotec | Hard to displace | May 2026 | 181 | US government's answer due in Miltenyi's Court of International Trade tariff classification suit |
| Mizuno Corporation | Hard to displace | May 2026 | 181 | FY2026 results filing will resolve conflicting -7.2% vs +7.8% revenue estimates |
| NGL Labs | Little protection left | May 27, 2026 | 181 | Mode Mobile Q1 2026 earnings call, first disclosure of NGL performance inside EarnOS |