Middle East geopolitical exposure
31% of revenue comes from the Middle East; new deal decisions may be delayed due to regional instability, though existing projects are being offshored.
SUBEX / Q4-FY26 / risks
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Subex · Material risks, their source context, and severity in the latest available quarter.
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Material risks this quarter
high
GPU hardware constraint for team-of-LLMs
Customers are reluctant to procure GPUs, delaying commercialization of the team-of-LLMs product despite completed PoCs and customer interest.
Currency fluctuation in contract negotiations
Customers increasingly want contracts in local currencies, but Subex insists on USD/euro, causing delays in deal closures.