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As of Q4'25, the latest data point for APP's current contract liabilities stands at USD 0, marking a significant drop from the previous quarter's value of USD 45.7M. This sharp decline suggests that all outstanding current contract liabilities have either been settled or reclassified by the end of 2025. Analyzing the trend from Q1'23 to Q4'25, APP's current contract liabilities generally increased from USD 66.9M in Q1'23, peaking at USD 80.5M in Q1'24, before gradually declining through 2024 and into 2025. The most notable inflection occurs between Q1'25 and Q2'25, where liabilities drop sharply from USD 72.6M to USD 44.9M, followed by a complete reduction to zero in Q4'25, indicating a substantial shift in the company's contract management or revenue recognition practices during this period.