Company: CSLMF
Filing Date: 2025-07-03
Form Type: DEFM14A
Source: 0001193125-25-155514
Chunk: 655

Company: CSLM ACQUISITION CORP.
Filing Date: 2025-07-03
Form: DEFM14A
Chunk 655
---
 and 2024. Deferred Revenue During the three months ended March 31, 2025, the Company recognized revenue of $53.7 thousand from the deferred revenue balance as of December 31, 2024. During the three months ended March 31, 2024, the Company recognized revenue of $20.6 thousand from the deferred revenue balance as of December 31, 2023. Contract Costs The Company recognizes the incremental costs of obtaining contracts as an expense when incurred if the amortization period of the assets that the Company otherwise would have recognized is one year or less. Management expects that commission fees paid to sales representatives as a result of obtaining service contracts and contract renewals, are recoverable and therefore the Company’s unaudited condensed consolidated interim balance sheets included capitalized balances in the amount of $22.4 thousand and $21.9 thousand as of March 31, 2025 and December 31, 2024 which represents the current portion and is included within prepaid expenses and other current assets, respectively and $2.4 thousand and $5 thousand, as of March 31, 2025 and December 31, 2024, respectively, which are included within other assets. Capitalized commission fees are amortized on a straight-line basis over the average period of service contracts of approximately two years and are included in selling and marketing in the accompanying unaudited condensed consolidated interim statements of operations and comprehensive loss. Amortization recognized during the three months ended March 31, 2025, and 2024 was $9.2 and $8.4 thousand, respectively. F-131

Transaction price allocated to remaining performance obligations The Company elected to apply the practical expedient for the right to invoice and does not disclose performance obligations that have original expected durations of one year or less. The opening and closing balances of contract assets, deferred revenue and unbilled revenue are as follows (in thousands):

|                                        |     | Contract asset |    |   |     | Deferred 
 revenue  |     |   |     | Unbilled 
 Revenue  |     |
|:---------------------------------------|:----|:---------------|---:|:--|:----|:---------|----:|:--|:----|:---------|----:|
| Ending balance as of December 31, 2023 |     | $              | 22 |   |     | $        |  21 |   |     | $        |  80 |
| Increase/(decrease