an AI data company can have recurring revenue and still start from zero on every order.
imagine a model flags a risky contract clause but misses an exception in an amendment. lawyers correct it, the lab gets useful data, and it orders another batch.
on a revenue chart, that's a great account, but what got easier for the vendor?
a vendor that's learning knows which lawyers catch exceptions like that, can tell a missing document from bad legal reasoning, and has a rubric the next group of lawyers can actually use. a vendor that isn't learning rebuilds recruiting, training, and QC on every order.
i'd want to see gross margin on the second order, accounting for how hard the work is, and, more than the number, the reason it moved.
a new model may need entirely new examples, and the lab's documents stay the lab's, so the learning has to live in the process: choosing experts, designing tasks, and getting work accepted on the first pass.
after the experts get paid and the lab gets its data, what does the vendor know that it didn't before? it's the question i'd ask any expert marketplace, ours included.
repeat demand can fund a business for years. i'd want to know whether each order makes the company better at the next one.