{
  "report_slug": "2025-am-capital-map",
  "date": "2026-09-30",
  "analysis_kind": "dated_comparison_supplement",
  "original_frozen_figures_preserved": true,
  "original_data_hashes": {
    "summary.json": "6e79f0629f6a6dcd23a5ab5e98f8867fd1745ac6e71ad6b60f7b31b43232819a",
    "amount-coverage.json": "36b94bd199b29281d74a36c26d104c26ed1d1875fe867e53db20b5319146cb8d",
    "repeat-recipients.json": "13bb44f096f5d50ffc7f52b7db79ef72ff803ee2008e4dea4b73ba239b62514d",
    "category-rates.json": "061f8618848f38630601b994895ebc311788e1fdfbc83c8f6ed29953da5fe8cb",
    "country-rates.json": "332887d384f568df9dede7403a02d9857c5eb269b59645960674e48ad1b27597",
    "capital-types.json": "39512f1181939a687d370be3578549e84866c2daddb7c084f0d1a5eb3b90a0c9"
  },
  "row_attribution": "Original per-row membership is not retained for each published aggregate. Differences from the original edition are not attributed solely to market activity or one classifier change.",
  "counting_unit": "Visible calendar-2025 funding event rows joined to census companies (company/null entity type, not marked non-AM); same company, funding stage and quarter collapsed, keeping the largest parsed amount.",
  "ledger": {
    "source_rows": 572,
    "collapsed_financings": 525,
    "companies": 445,
    "source_url_present": 138,
    "amount_parsed": 290,
    "raw_country_counts": {
      "CA": 18,
      "US": 164,
      "ES": 5,
      "DE": 34,
      "IN": 12,
      "CN": 181,
      "IL": 13,
      "LU": 3,
      "GB": 40,
      "AE": 2,
      "IT": 13,
      "JP": 10,
      "FR": 8,
      "AU": 13,
      "SA": 1,
      "PL": 2,
      "CH": 10,
      "NL": 13,
      "SE": 2,
      "PT": 3,
      "KH": 1,
      "MD": 2,
      "KR": 6,
      "TR": 1,
      "FI": 1,
      "SI": 1,
      "TW": 1,
      "BE": 1,
      "IS": 1,
      "DK": 1,
      "HK": 1,
      "NZ": 1,
      "AT": 3,
      "IE": 1,
      "CZ": 1,
      "NO": 1,
      "SG": 1
    },
    "collapsed_country_counts": {
      "US": 158,
      "CH": 9,
      "FR": 8,
      "DE": 34,
      "CN": 145,
      "CA": 16,
      "IL": 13,
      "JP": 10,
      "IT": 13,
      "NL": 13,
      "AU": 13,
      "GB": 39,
      "SG": 1,
      "ES": 5,
      "LU": 3,
      "KR": 5,
      "DK": 1,
      "IN": 12,
      "FI": 1,
      "MD": 2,
      "SE": 2,
      "IS": 1,
      "PT": 3,
      "AE": 2,
      "TR": 1,
      "PL": 2,
      "AT": 3,
      "SI": 1,
      "BE": 1,
      "SA": 1,
      "KH": 1,
      "TW": 1,
      "HK": 1,
      "NZ": 1,
      "IE": 1,
      "CZ": 1,
      "NO": 1
    }
  },
  "source_url_present_pct": 26.3,
  "amount_parsed_pct": 55.2,
  "primary_capital": "Not asserted; the funding-event umbrella includes ownership and other instruments.",
  "current_after_identity_adjudication": {
    "date": "2026-09-30",
    "source_rows": 572,
    "heuristic_before_exception": 525,
    "retained_after_verified_exception": 526,
    "companies": 445,
    "source_url_present": 139,
    "amount_parsed": 291,
    "country_counts": {
      "US": 159,
      "CH": 9,
      "FR": 8,
      "DE": 34,
      "CN": 145,
      "CA": 16,
      "IL": 13,
      "JP": 10,
      "IT": 13,
      "NL": 13,
      "AU": 13,
      "GB": 39,
      "SG": 1,
      "ES": 5,
      "LU": 3,
      "KR": 5,
      "DK": 1,
      "IN": 12,
      "FI": 1,
      "MD": 2,
      "SE": 2,
      "IS": 1,
      "PT": 3,
      "AE": 2,
      "TR": 1,
      "PL": 2,
      "AT": 3,
      "SI": 1,
      "BE": 1,
      "SA": 1,
      "KH": 1,
      "TW": 1,
      "HK": 1,
      "NZ": 1,
      "IE": 1,
      "CZ": 1,
      "NO": 1
    },
    "verified_exception": {
      "company": "IperionX",
      "event_ids": [
        13461,
        13463
      ],
      "type": "separate obligation tranches under the same award",
      "incremental_amounts_usd": [
        12500000,
        25000000
      ],
      "award_ceiling_usd": 47100000,
      "exclude_cumulative_totals_from_sum": true,
      "source_urls": [
        "https://iperionx.com/2025/08/26/iperionx-receives-12-5m-u-s-government-funding-to-accelerate-expansion-of-u-s-titanium-production/",
        "https://iperionx.com/2025/09/26/iperionx-receives-a-further-25m-in-u-s-government-funding-to-accelerate-titanium-production-scale-up/"
      ]
    },
    "unadjudicated": "Other company/stage/quarter groups remain heuristic. Retained counts are not all independently verified financings."
  },
  "current_unadjudicated_quarter_groups": 46
}