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Figure Figure 1 Revenue operations & AI

The panel summary: three weightings, one direction

Every weighting rises between one and three points across the window. The dispute is not about the direction; it is about whether this line could show an AI effect at all.

A grouped bar chart comparing three gross-margin weightings in 2022Q1 and 2026Q1. Revenue-weighted gross margin rises from 73.9 to 75.4 percent, equal-weighted gross margin from 70.8 to 72.6 percent, and the median firm from 72.6 to 75.4 percent. All three measures rise over the panel window.2022Q12026Q10%20%40%60%80%100%73.9%75.4%Revenue-weighted70.8%72.6%Equal-weighted72.6%75.4%Median firmWeightingGross margin (%)
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Reference & Evidence

Source: SEC EDGAR XBRL company facts; balanced panel of 53 BVP Nasdaq Emerging Cloud Index constituents, 2022Q1 to 2026Q1, 901 firm-quarters. Panel, code and exclusions: isoglu.com/research/gross-margin-panel/.

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