research: link ARR definitions to subscription economics

apps/docs/scripts/auth-cli.ts

@@ -184,7 +184,7 @@ async function main() {
   const research = await researchResponse.json();
   assert.equal(research.companies.length, 1188);
   assert.equal(research.categories.length, 11);
-  assert.equal(research.evidence.length, 4380);
+  assert.equal(research.evidence.length, 4386);
   assert.equal(research.observations.length, 453);
   assert.equal((await request("/api/research/ai-companies", { method: "POST", headers })).status, 405);
   const researchPage = await request("/docs/other-research/ai-company-research/overview", { headers });

apps/docs/tests/research.test.ts

@@ -78,7 +78,7 @@ test("research revisions share the authentication database and preserve replay l
     assert.equal(consumeCode(config, "invalid"), "limited");
     const initial = readResearchSnapshot();
     assert.equal(initial.companies.length, 1188);
-    assert.equal(initial.evidence.length, 4380);
+    assert.equal(initial.evidence.length, 4386);
     assert.equal(initial.observations.length, 453);
     assert.deepEqual(initial.candidateBatches, seed.candidateBatches, "candidate gaps persist in the same database metadata");
     assert.deepEqual(initial.directoryRechecks, seed.directoryRechecks, "follow-up classifications persist without rewriting the discovery audit");
@@ -118,7 +118,7 @@ test("research validation rejects broken evidence and unsafe source links", () =
 
 test("reviews link explicit companies without turning global or excluded cases into companies", () => {
   const snapshot = structuredClone(seed) as ResearchSnapshot;
-  assert.equal(snapshot.reviews.filter((r) => r.scope === "companies").length, 198);
+  assert.equal(snapshot.reviews.filter((r) => r.scope === "companies").length, 200);
   assert.equal(snapshot.reviews.filter((r) => r.scope === "dataset").length, 105);
   assert.equal(snapshot.reviews.filter((r) => r.scope === "excluded-candidate").length, 44);
   const review = snapshot.reviews.find((r) => r.id === "R4")!;

content/research/ai-companies.seed.json

@@ -1,5 +1,5 @@
 {
-  "version": "2026-10-31-arr-contracts-1",
+  "version": "2026-10-31-arr-contracts-2",
   "asOf": "2026-10-31",
   "scope": "全球公开资料研究：保留首批个案，并扩展核查2025—2026八个YC批次候选池；成立年份以官方公司页面字段为依据。",
   "limitations": [
@@ -1477,10 +1477,10 @@
       "business": "追踪品牌在AI搜索中的可见度，并以Agent协助研究、内容建议和工具间任务交接。",
       "buyer": "品牌营销团队与代理机构",
       "delivery": "2026-10-22公司公告称超过3500家公司采用，发布Peec Agent；未独立测试效果",
-      "notes": "2025年1月成立、2月产品上线；2024团队在Antler相识。招聘转载的1500万ARR缺明确截止日及币种代码，与8月第三方估算不视为相互独立验证。",
+      "notes": "2025年1月成立、2月产品上线；2024团队在Antler相识。招聘转载的1500万ARR缺明确截止日及币种代码，与8月第三方估算不视为相互独立验证。 公司五月披露的客户总数未证全为付费/全价，不作ARR分母；现提示词/项目/模型数量与Agentcredits为计费容量，不能当客户数。",
       "cohort": "2025年成立",
       "teamBasis": "2026-10-30访问公司招聘转载列100+，作为下界；页面Posted on 2026-09-22不等业务截止日，未独立核实",
-      "price": "品牌套餐比较表原文$95/$245/$495每月，企业询价；按提示词、模型与项目及Agent额度区分，席位不限；币种代码待核",
+      "price": "品牌套餐比较表原文$95/$245/$495每月，企业询价；按提示词、模型与项目及Agent额度区分，席位不限；币种代码待核 当前主卡Enterprise年约，但帮助页允许月订阅，实际合同需核；Starter无API，品牌Pro/Advanced及机构套餐可用。",
       "stage": "有公司披露的商业使用",
       "sourceType": "公司公告；第三方估算单列",
       "evidenceIds": [
@@ -1489,7 +1489,10 @@
         "E090",
         "DATE-PEEC-OCT",
         "PEEC-PRICE",
-        "PEEC-JOBS"
+        "PEEC-JOBS",
+        "ARRCHECK2-PEEC-PRICE",
+        "ARRCHECK2-PEEC-API",
+        "ARRCHECK2-PEEC-PRESS"
       ],
       "revenueStatus": "self",
       "teamBound": "≥",
@@ -1507,10 +1510,10 @@
       "business": "用自然语言生成应用，并提供数据库、认证与托管",
       "buyer": "创业者、小企业与内部工具团队",
       "delivery": "上市公司披露经营增长；技术质量尚未独立测试",
-      "notes": "2025年成立，同年6月被Wix收购；收购后收入与独立初创组分开。",
+      "notes": "2025年成立，同年6月被Wix收购；收购后收入与独立初创组分开。 Wix2026二季度附件给出包含Base44的期末有效订阅MRR×12定义，但集团ARR/收入非Base44独立财务；年初非GAAP毛利近零、下半年60%是预测。信用消耗可随模型路由变化，失败也可扣费，不能仅凭ARR判断商业盈利。",
       "cohort": "2025年成立",
       "teamBasis": null,
-      "price": "免费层＋含消息/集成积分的分档订阅；价格见2026-07说明",
+      "price": "当前默认年付等效月价原$16/40/80/160，Starter/Builder/Pro/Elite双额度，免费层25月消息；企业询价。原$不补币种，年付折算与单独月付分开。",
       "stage": "已收购，商业运营",
       "sourceType": "收购方管理层披露；媒体转述创始人声明",
       "evidenceIds": [
@@ -1519,10 +1522,14 @@
         "E093",
         "E094",
         "E095",
-        "E096"
+        "E096",
+        "ARRCHECK2-BASE-DEFINITION",
+        "ARRCHECK2-BASE-PRICE",
+        "ARRCHECK2-BASE-TERMS"
       ],
       "revenueStatus": "self",
-      "pricingEvidence": "E096"
+      "pricingEvidence": "ARRCHECK2-BASE-PRICE",
+      "businessModel": "分档订阅含消息/集成credits，超额升级/限制及可能用量收费；实际合同续费、折扣退款、赠送额度和计算成本待核。"
     },
     {
       "id": "AI057",
@@ -92557,6 +92564,72 @@
       "kind": "原始公司定价/条款/经营披露复核",
       "summary": "YC直达无正文，原始搜索缓存仍列四周$500KARR、2025成立和5人，以及金融操作Agent；旧Streetbees履历独立。",
       "limitation": "原$未明确币种代码，四周不是日历财务截至日；8000万旧融资/200人旧团队不继承本公司。原始结果/用量定价文章不证明每份合同最低经常承诺。"
+    },
+    {
+      "id": "ARRCHECK2-BASE-DEFINITION",
+      "companyId": "AI056",
+      "title": "Wix原始监管附件ARR定义及成本边界",
+      "url": "https://www.sec.gov/Archives/edgar/data/1576789/000162828026052108/secondquarter2026results.htm",
+      "publishedAt": null,
+      "accessedAt": "2026-10-31",
+      "kind": "原始公司定价/条款/监管披露复核",
+      "summary": "2026-08-04附件定义CreativeSubscriptions含Base44，按期末有效订阅月收入构成MRR再乘12；Base44年初非GAAP毛利近零，下半年约60%为管理层预期。",
+      "limitation": "集团定义不是Base44独立合同底表或已审计指标；Wix总ARR19.63亿/总收入不搬为Base44收入，非GAAP/前瞻与实际GAAP分开，未取得独立Base44收入成本拆分。"
+    },
+    {
+      "id": "ARRCHECK2-BASE-PRICE",
+      "companyId": "AI056",
+      "title": "Base44当前原始年付套餐与双额度",
+      "url": "https://base44.com/pricing",
+      "publishedAt": null,
+      "accessedAt": "2026-10-31",
+      "kind": "原始公司定价/条款/监管披露复核",
+      "summary": "当前默认年付等效月价Starter原$16/Builder40/Pro80/Elite160，按月消息与integration两类credits，免费25月消息；企业询价。",
+      "limitation": "年付等效月价不当可随时月付报价，原$币种代码仍需合同确认；额度非已消耗收入，当前套餐不倒推旧ARR用户数或实际折扣/退款。"
+    },
+    {
+      "id": "ARRCHECK2-BASE-TERMS",
+      "companyId": "AI056",
+      "title": "Base44原始credit计量与失败消耗",
+      "url": "https://app.base44.com/terms-of-service",
+      "publishedAt": null,
+      "accessedAt": "2026-10-31",
+      "kind": "原始公司定价/条款/监管披露复核",
+      "summary": "原始条款允许按请求复杂度/模型/路由变化扣credit，默认月末过期不滚存；错误/幻觉/失败也可消耗且不自动返还，超额可能限制/升级或收费。",
+      "limitation": "credit不是货币/存款，销售余额不等已确认软件收入；客户满意度、留存、耗用成本及实际合同仍须核，不用一般条款确认每份ARR。"
+    },
+    {
+      "id": "ARRCHECK2-PEEC-PRICE",
+      "companyId": "AI055",
+      "title": "Peec当前原始追踪和Agent额度",
+      "url": "https://peec.ai/pricing",
+      "publishedAt": null,
+      "accessedAt": "2026-10-31",
+      "kind": "原始公司定价/条款/监管披露复核",
+      "summary": "品牌月度比较表原$95/245/495，50/150/350prompts及3模型、不限用户，1/2/5projects和500/750/1000Agentcredits；Enterprise自定义年约。",
+      "limitation": "当前表保留原$未补USD；旧对比文章欧元报价与现价不同不混同期，提示词采样/模型数量不是客户数；SOC2展示未读原报告不作独立审计。"
+    },
+    {
+      "id": "ARRCHECK2-PEEC-API",
+      "companyId": "AI055",
+      "title": "Peec原始API可用层级",
+      "url": "https://help.peec.ai/article/how-much-does-the-api-cost-y3u6zh4lby7h9sksvyyzn2mi",
+      "publishedAt": null,
+      "accessedAt": "2026-10-31",
+      "kind": "原始公司定价/条款/监管披露复核",
+      "summary": "帮助页称Starter无API，品牌Pro/Advanced月年及机构套餐可用API，Enterprise可月订阅。",
+      "limitation": "帮助页Enterprise月订阅与当前定价主卡年约不一致保留，合同/结账实际期限待核，不据帮助页补API单独收入或真实续费。"
+    },
+    {
+      "id": "ARRCHECK2-PEEC-PRESS",
+      "companyId": "AI055",
+      "title": "Peec原始五月披露与采用分母复核",
+      "url": "https://www.globenewswire.com/news-release/2026/05/28/3303009/0/en/peec-ai-hits-10m-arr-16-months-after-launch-as-brands-race-to-optimize-for-ai-search.html",
+      "publishedAt": null,
+      "accessedAt": "2026-10-31",
+      "kind": "原始公司定价/条款/监管披露复核",
+      "summary": "2026-05-28公司供稿称超过1000万ARR、2500客户及70余人，且列0至500万11个月再至1000万5个月。",
+      "limitation": "公司新闻稿不是独立查账；公告时点非10月最新值，客户未明确付费/全价/同一主体不能除ARR推ARPA；发布时间与四舍五入/下界需保留。"
     }
   ],
   "reviews": [
@@ -100482,6 +100555,38 @@
         "ARRCHECK1-NEXOR-HOME"
       ],
       "handling": "报价/信用余额/客户交易流水/旧事业融资不当软件ARR；月年优惠和使用量波动、佣金净费、实施服务及最低合同承诺是商业模式评估缺项。本轮无新收入观测，四家公司截至日/合同实收仍缺。"
+    },
+    {
+      "id": "ARRCHECK2-R-BASE-UNIT",
+      "type": "订阅ARR定义与推理成本、实际利润",
+      "company": "Base44",
+      "scope": "companies",
+      "companyIds": [
+        "AI056"
+      ],
+      "summary": "Wix监管附件定义含Base44的订阅ARR为期末MRR年化，给出了比纯ARR标签更明确的集团方法，但独立Base44收入/成本合同表仍缺。",
+      "evidenceIds": [
+        "ARRCHECK2-BASE-DEFINITION",
+        "ARRCHECK2-BASE-PRICE",
+        "ARRCHECK2-BASE-TERMS"
+      ],
+      "handling": "作为商业模式初评：套餐额度和模型路由帮助控制用量成本，但高速ARR不保证毛利；年初非GAAP毛利近零、下半年约60%是预测不当实绩。需核每客户推理/托管成本、赠送额度、退款、付费留存、实际消耗和已收购集团资源分摊，不能从收入离散推造假。"
+    },
+    {
+      "id": "ARRCHECK2-R-PEEC-UNIT",
+      "type": "追踪容量订阅、Agent额度和机构合同期限",
+      "company": "Peec AI",
+      "scope": "companies",
+      "companyIds": [
+        "AI055"
+      ],
+      "summary": "无限席位、按提示词/项目/模型容量及Agent额度的订阅可扩展，但现价/旧欧元对比、Enterprise年约/月订阅说明不能混为统一合同。",
+      "evidenceIds": [
+        "ARRCHECK2-PEEC-PRICE",
+        "ARRCHECK2-PEEC-API",
+        "ARRCHECK2-PEEC-PRESS"
+      ],
+      "handling": "作为商业模式初评：收入扩展可能来自容量和Agent用量而非席位，需核监测采样成本、追加credits占比、续订/折扣、企业期限与服务费。2500客户不证付费/全价，旧1000万下界不除以它生成ARPA；不将媒体供稿/招聘/Sacra估算当独立相互验证，仍不形成同期行业样本。"
     }
   ],
   "coverage": {

content/research/ai-companies.sources.json

@@ -1,5 +1,5 @@
 {
-  "version": "2026-10-31-arr-contracts-1",
+  "version": "2026-10-31-arr-contracts-2",
   "scopeConfirmedAt": "2026-10-30",
   "acceptance": "以确认的公开来源清单为边界，逐条核对并标明缺项。",
   "provenance": "S01—S12恢复自已提交用户的《AI公司研究_来源与分类模板》来源清单；S13—S16单列后续已使用的补充证据渠道，不将使用次数当作全量覆盖。",
@@ -2984,7 +2984,7 @@
       "status": "per-company",
       "hosts": [],
       "initialAccess": "按公司逐一核验",
-      "boundary": "公司官网和官方材料逐条绑定证据；不是可预先列尽的全站候选池。 定向新增企智芯与九昇智能的2025成立自述及交付资料，精确注册、实际客户与收入未核；两个官网不代表中文公司全集。 本轮复读Gojiberry/Floot/Nexor/Eloquent原始定价/条款/披露，补订阅扩展、AI与托管credit和支付净费边界；Eloquent/Floot旧ARR原$撤销USD推断，当前定价不倒推历史合同或币种。非所有公司官网全量核验。",
+      "boundary": "公司官网和官方材料逐条绑定证据；不是可预先列尽的全站候选池。 定向新增企智芯与九昇智能的2025成立自述及交付资料，精确注册、实际客户与收入未核；两个官网不代表中文公司全集。 本轮复读Gojiberry/Floot/Nexor/Eloquent原始定价/条款/披露，补订阅扩展、AI与托管credit和支付净费边界；Eloquent/Floot旧ARR原$撤销USD推断，当前定价不倒推历史合同或币种。非所有公司官网全量核验。 补Peec/Base44原始定价/条款/API与监管附件ARR定义：有效订阅MRR年化不等独立审计收入，模型/额度成本和预测毛利分列；不新增收入数字。",
       "nextCheck": "核定价、主体、交付与收入定义，自述与独立验证分开。",
       "limitation": "自述不等于独立审计"
     },

content/research/ai-income-analysis.json

@@ -1,5 +1,5 @@
 {
-  "sourceVersion": "2026-10-31-arr-contracts-1",
+  "sourceVersion": "2026-10-31-arr-contracts-2",
   "asOf": "2026-10-31",
   "metric": "platform-mrr-usd",
   "sampleUnit": "product-or-business",