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As of Q4'25, TEM's current contract liabilities stand at USD 92.67M, reflecting a notable decrease from the previous quarter’s USD 138.12M. This latest figure marks a significant pullback after reaching a peak of USD 161.18M in Q2'25. Analyzing the period from Q1'23 to Q4'25, the data shows a pronounced upward trend beginning in Q3'23, with current contract liabilities rising sharply from USD 51.94M to a high of USD 161.18M in Q2'25. The trend is characterized by periods of rapid growth, particularly between Q2'24 and Q2'25, followed by a marked decline in the latter half of 2025. This suggests a cycle of strong contract acquisition followed by fulfillment or reduction in obligations towards the end of the observed period.