In my mind, we have:
1. Another early adapter evaluating (P&W). = $0 booked future revenue. We have a few of these. But - this probably paid some lower engineer's salary for the year, so that's good.
2. "Up to $6M" contract (unknown OEM)
Let's say I develop a new sound patch for the "Pro Tools" audio recording platform - call it the "Sick Sigma Delay and Distortion" module. To get financing, if I were to base my revenue estimates on the assumption every Pro Tools user is going to buy my expensive add-on, I would be misleading my investors. I believe this analogy is applicable here. None of the OEM's customers may want SGLB - for whatever reason. Again - $0 booked future revenue. Maybe is better than not, but does nothing for PPS as we have learned.
Maybe that's a conservative - even negative perspective, but it's paid for.
Until the day they outright book a solid order for real money with support contracts & the works, it's all bs.
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