How does Helion print?
Recurring seats, then services. The AE sells the cloud.
Fusion. Series G 2026 at $15.5B. Microsoft PPA. Cash under the labs; equity is the bet.
The mix
- SubscriptionThe seat.85%
- Services / otherImplementation.15%
Industry-shape composite. Not a filing.
Who pays
Businesses on a subscription.
Who builds
Product engineering and a GTM book.