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   "definition": "Published smoothed index, 100 = the recorded eligible baseline 2021-07. Null denotes a publication gap. Methodology: 2026-10-known-buyers+usable-spend+coverage-90pct+rolling-median-3m+calendar-cadence-v2.",
   "periodStart": "2026-08-01"
  },
  {
   "unit": "index_points",
   "month": "2026-09",
   "value": 426,
   "entity": null,
   "metric": "software_spend_index",
   "currency": "EUR",
   "periodEnd": "2026-09-30",
   "definition": "Published smoothed index, 100 = the recorded eligible baseline 2021-07. Null denotes a publication gap. Methodology: 2026-10-known-buyers+usable-spend+coverage-90pct+rolling-median-3m+calendar-cadence-v2.",
   "periodStart": "2026-09-01"
  },
  {
   "unit": "USD",
   "month": "2026-09",
   "value": 61142.78,
   "entity": null,
   "metric": "observed_annual_spend_p25",
   "currency": "USD",
   "periodEnd": "2026-09-30",
   "definition": "Per-currency aggregate median and 25th/75th percentiles of observed trailing 12-month per-company software subscription spend. Currency is inferred from buyer geography; currencies are not blended or FX-converted. The cohort can change and new companies may have less than a full year of observed payments. Amounts follow the source cleaned-payment basis; missing refund or reversal status can affect totals. Source publication floors apply; absolute buyer counts are withheld.",
   "periodStart": "2025-10-01"
  },
  {
   "unit": "USD",
   "month": "2026-09",
   "value": 145406.05,
   "entity": null,
   "metric": "observed_annual_spend_median",
   "currency": "USD",
   "periodEnd": "2026-09-30",
   "definition": "Per-currency aggregate median and 25th/75th percentiles of observed trailing 12-month per-company software subscription spend. Currency is inferred from buyer geography; currencies are not blended or FX-converted. The cohort can change and new companies may have less than a full year of observed payments. Amounts follow the source cleaned-payment basis; missing refund or reversal status can affect totals. Source publication floors apply; absolute buyer counts are withheld.",
   "periodStart": "2025-10-01"
  },
  {
   "unit": "USD",
   "month": "2026-09",
   "value": 350588.8,
   "entity": null,
   "metric": "observed_annual_spend_p75",
   "currency": "USD",
   "periodEnd": "2026-09-30",
   "definition": "Per-currency aggregate median and 25th/75th percentiles of observed trailing 12-month per-company software subscription spend. Currency is inferred from buyer geography; currencies are not blended or FX-converted. The cohort can change and new companies may have less than a full year of observed payments. Amounts follow the source cleaned-payment basis; missing refund or reversal status can affect totals. Source publication floors apply; absolute buyer counts are withheld.",
   "periodStart": "2025-10-01"
  },
  {
   "unit": "index_points",
   "month": "2025-10",
   "value": 230,
   "entity": null,
   "metric": "software_spend_index",
   "currency": "USD",
   "periodEnd": "2025-10-31",
   "definition": "Published smoothed index, 100 = the recorded eligible baseline 2023-01. Null denotes a publication gap. Methodology: 2026-10-known-buyers+usable-spend+coverage-90pct+rolling-median-3m+calendar-cadence-v2.",
   "periodStart": "2025-10-01"
  },
  {
   "unit": "index_points",
   "month": "2025-11",
   "value": 239,
   "entity": null,
   "metric": "software_spend_index",
   "currency": "USD",
   "periodEnd": "2025-11-30",
   "definition": "Published smoothed index, 100 = the recorded eligible baseline 2023-01. Null denotes a publication gap. Methodology: 2026-10-known-buyers+usable-spend+coverage-90pct+rolling-median-3m+calendar-cadence-v2.",
   "periodStart": "2025-11-01"
  },
  {
   "unit": "index_points",
   "month": "2025-12",
   "value": 227,
   "entity": null,
   "metric": "software_spend_index",
   "currency": "USD",
   "periodEnd": "2025-12-31",
   "definition": "Published smoothed index, 100 = the recorded eligible baseline 2023-01. Null denotes a publication gap. Methodology: 2026-10-known-buyers+usable-spend+coverage-90pct+rolling-median-3m+calendar-cadence-v2.",
   "periodStart": "2025-12-01"
  },
  {
   "unit": "index_points",
   "month": "2026-01",
   "value": 239,
   "entity": null,
   "metric": "software_spend_index",
   "currency": "USD",
   "periodEnd": "2026-01-31",
   "definition": "Published smoothed index, 100 = the recorded eligible baseline 2023-01. Null denotes a publication gap. Methodology: 2026-10-known-buyers+usable-spend+coverage-90pct+rolling-median-3m+calendar-cadence-v2.",
   "periodStart": "2026-01-01"
  },
  {
   "unit": "index_points",
   "month": "2026-02",
   "value": 251,
   "entity": null,
   "metric": "software_spend_index",
   "currency": "USD",
   "periodEnd": "2026-02-28",
   "definition": "Published smoothed index, 100 = the recorded eligible baseline 2023-01. Null denotes a publication gap. Methodology: 2026-10-known-buyers+usable-spend+coverage-90pct+rolling-median-3m+calendar-cadence-v2.",
   "periodStart": "2026-02-01"
  },
  {
   "unit": "index_points",
   "month": "2026-03",
   "value": 251,
   "entity": null,
   "metric": "software_spend_index",
   "currency": "USD",
   "periodEnd": "2026-03-31",
   "definition": "Published smoothed index, 100 = the recorded eligible baseline 2023-01. Null denotes a publication gap. Methodology: 2026-10-known-buyers+usable-spend+coverage-90pct+rolling-median-3m+calendar-cadence-v2.",
   "periodStart": "2026-03-01"
  },
  {
   "unit": "index_points",
   "month": "2026-04",
   "value": 261,
   "entity": null,
   "metric": "software_spend_index",
   "currency": "USD",
   "periodEnd": "2026-04-30",
   "definition": "Published smoothed index, 100 = the recorded eligible baseline 2023-01. Null denotes a publication gap. Methodology: 2026-10-known-buyers+usable-spend+coverage-90pct+rolling-median-3m+calendar-cadence-v2.",
   "periodStart": "2026-04-01"
  },
  {
   "unit": "index_points",
   "month": "2026-05",
   "value": 246,
   "entity": null,
   "metric": "software_spend_index",
   "currency": "USD",
   "periodEnd": "2026-05-31",
   "definition": "Published smoothed index, 100 = the recorded eligible baseline 2023-01. Null denotes a publication gap. Methodology: 2026-10-known-buyers+usable-spend+coverage-90pct+rolling-median-3m+calendar-cadence-v2.",
   "periodStart": "2026-05-01"
  },
  {
   "unit": "index_points",
   "month": "2026-06",
   "value": 245,
   "entity": null,
   "metric": "software_spend_index",
   "currency": "USD",
   "periodEnd": "2026-06-30",
   "definition": "Published smoothed index, 100 = the recorded eligible baseline 2023-01. Null denotes a publication gap. Methodology: 2026-10-known-buyers+usable-spend+coverage-90pct+rolling-median-3m+calendar-cadence-v2.",
   "periodStart": "2026-06-01"
  },
  {
   "unit": "index_points",
   "month": "2026-07",
   "value": 245,
   "entity": null,
   "metric": "software_spend_index",
   "currency": "USD",
   "periodEnd": "2026-07-31",
   "definition": "Published smoothed index, 100 = the recorded eligible baseline 2023-01. Null denotes a publication gap. Methodology: 2026-10-known-buyers+usable-spend+coverage-90pct+rolling-median-3m+calendar-cadence-v2.",
   "periodStart": "2026-07-01"
  },
  {
   "unit": "index_points",
   "month": "2026-08",
   "value": 281,
   "entity": null,
   "metric": "software_spend_index",
   "currency": "USD",
   "periodEnd": "2026-08-31",
   "definition": "Published smoothed index, 100 = the recorded eligible baseline 2023-01. Null denotes a publication gap. Methodology: 2026-10-known-buyers+usable-spend+coverage-90pct+rolling-median-3m+calendar-cadence-v2.",
   "periodStart": "2026-08-01"
  },
  {
   "unit": "index_points",
   "month": "2026-09",
   "value": 281,
   "entity": null,
   "metric": "software_spend_index",
   "currency": "USD",
   "periodEnd": "2026-09-30",
   "definition": "Published smoothed index, 100 = the recorded eligible baseline 2023-01. Null denotes a publication gap. Methodology: 2026-10-known-buyers+usable-spend+coverage-90pct+rolling-median-3m+calendar-cadence-v2.",
   "periodStart": "2026-09-01"
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}