Terms of Service & Data License

1. Overview

These Terms of Service and Data License Agreement ("Terms") govern your access to and use of FocusAlpha's products and services, including structured transcript datasets, company information, SEC filing data, search tools, APIs, MCP integrations, metadata, AI-generated outputs, and related functionality (collectively, the "Services").

By accessing or using the Services, you agree to be bound by these Terms.

If you do not agree to these Terms, you may not access or use the Services.

2. Description of Services

FocusAlpha collects and processes information from publicly available sources, including:

• corporate investor relations websites;
• SEC filings;
• earnings call materials;
• investor presentations;
• conference materials;
• public company disclosures; and
• other publicly accessible information sources.

FocusAlpha enhances such information through proprietary processing, organization, metadata enrichment, tagging, indexing, retrieval systems, search infrastructure, AI-assisted analysis, and other value-added services.

The Services are provided solely for research and informational purposes.

3. License Grant

Subject to compliance with these Terms and payment of applicable subscription fees, FocusAlpha grants you a limited, non-exclusive, non-transferable, revocable license to access and use the Services for your personal or internal research purposes.

You may:

• access and search information through authorized interfaces;
• use information in your personal or internal research workflows;
• generate analyses, reports, and summaries based on information obtained through the Services; and
• use the Services in connection with your investment research activities.

No ownership rights are transferred to you.

4. Restrictions

You may not:

• resell, sublicense, redistribute, or commercially exploit the Services or any substantial portion of the data;
• republish large portions of transcript content or datasets;
• share account credentials with third parties;
• circumvent subscription limits, usage limits, or access controls;
• use automated methods to systematically download, scrape, harvest, extract, or export substantial portions of the Services;
• create a competing database, search engine, transcript repository, research platform, or financial data service using information obtained from the Services;
• reverse engineer, copy, replicate, or attempt to reproduce FocusAlpha's proprietary tagging, metadata, retrieval, ranking, classification, indexing, or processing methodologies;
• use the Services or any data, metadata, tags, classifications, outputs, or information obtained from the Services to train, fine-tune, benchmark, evaluate, improve, develop, or support any competing AI model, foundation model, retrieval system, agent platform, transcript database, financial data product, investment research service, or other competing product or service.

5. Intellectual Property

The Services, including all software, metadata, classifications, tags, retrieval systems, indexes, workflows, search infrastructure, databases, and proprietary enhancements, are owned exclusively by FocusAlpha and its licensors.

FocusAlpha does not claim ownership of third-party source materials obtained from publicly available sources.

However, all proprietary processing, organization, enrichment, tagging, indexing, retrieval optimization, classifications, and related intellectual property remain the exclusive property of FocusAlpha.

6. Public Source Materials

Certain information available through the Services originates from publicly available sources.

FocusAlpha makes no representation that users may independently reproduce, redistribute, republish, or commercially exploit such source materials outside the Services.

Users are solely responsible for ensuring compliance with any applicable rights, restrictions, or obligations associated with third-party materials.

7. No Investment Advice

FocusAlpha is not a broker-dealer, investment adviser, legal adviser, tax adviser, accounting adviser, or fiduciary.

The Services are provided solely for informational and research purposes.

Nothing provided through the Services constitutes:

• investment advice;
• investment recommendations;
• legal advice;
• tax advice;
• accounting advice; or
• a recommendation to buy, sell, or hold any security.

You remain solely responsible for all investment decisions, trading activity, and financial outcomes.

8. AI-Generated Content and Metadata

Certain features of the Services rely on artificial intelligence, machine learning models, automated classification systems, and proprietary processing workflows.

As part of the Services, FocusAlpha may generate, infer, classify, summarize, tag, label, organize, enrich, or otherwise process information, including:

• management commentary classifications;
• topic tags;
• speaker mappings;
• executive role mappings;
• company descriptions;
• guidance tracking;
• sentiment indicators;
• business segment categorizations;
• financial topic categorizations;
• metadata fields; and
• other AI-generated outputs.

Such outputs are generated automatically and may contain inaccuracies, omissions, misclassifications, outdated information, incomplete information, or other errors.

Users should not rely solely on AI-generated outputs and should independently verify any information before making investment, business, legal, tax, accounting, operational, or other decisions.

FocusAlpha makes no representation or warranty regarding the accuracy, completeness, reliability, suitability, or fitness for any purpose of any AI-generated output.

You acknowledge and agree that any use of AI-generated content is at your own risk.

9. Data Accuracy Disclaimer

THE SERVICES ARE PROVIDED "AS IS" AND "AS AVAILABLE."

FocusAlpha does not warrant that any information is:

• accurate;
• complete;
• current;
• uninterrupted;
• timely;
• error-free; or
• suitable for any particular purpose.

Users should independently verify all information before relying upon it.

10. Data Availability and Timing

FocusAlpha does not guarantee that any filing, transcript, presentation, earnings call, webcast, investor event, press release, or public disclosure will be collected, processed, tagged, indexed, or made available within any specific timeframe.

Delays may occur due to:

• source availability;
• website changes;
• technical limitations;
• data processing workflows;
• third-party dependencies;
• AI processing delays; or
• operational factors.

Users should not rely on the Services as their sole source of time-sensitive information.

11. Public Source Availability

FocusAlpha relies on information obtained from publicly available sources.

The availability, completeness, format, quality, and accessibility of such sources may change without notice.

FocusAlpha does not guarantee continued coverage of any company, filing, transcript, presentation, conference appearance, webcast, event, or data source.

Data coverage may be modified, delayed, suspended, or discontinued at any time.

FocusAlpha has no obligation to monitor, update, verify, correct, or maintain coverage of any particular company, filing, transcript, event, or dataset.

12. Beta Services

Certain features may be designated as beta, preview, experimental, or early access features.

Such features may contain bugs, errors, interruptions, incomplete functionality, or unexpected behavior.

FocusAlpha may modify, suspend, discontinue, or materially change beta features at any time without notice.

Beta features are provided on an "as-is" basis and may not be suitable for production, compliance, regulatory, or mission-critical use.

13. Service Availability

FocusAlpha does not guarantee uninterrupted availability of the Services.

The Services may experience:

• downtime;
• maintenance periods;
• interruptions;
• delays;
• degraded performance;
• model failures;
• infrastructure failures;
• data source failures; or
• other technical issues.

FocusAlpha shall not be liable for any losses resulting from temporary or permanent service interruptions.

14. Third-Party Services

Certain features of the Services may rely upon third-party providers, including AI providers, cloud infrastructure providers, and other service providers.

FocusAlpha is not responsible for outages, interruptions, inaccuracies, limitations, pricing changes, policy changes, service degradations, or failures caused by third-party providers.

15. Fair Use Policy

FocusAlpha reserves the right to limit, throttle, suspend, restrict, or terminate access where usage patterns indicate:

• bulk extraction;
• systematic database reconstruction;
• excessive automated querying;
• credential sharing;
• account abuse;
• attempts to replicate or substitute the Services;
• attempts to circumvent subscription limits; or
• activity inconsistent with reasonable research usage.

Subscription limits are intended to support ordinary research workflows and may not be used to create, reproduce, or substitute a competing dataset, database, search engine, or service.

16. Limitation of Liability

To the fullest extent permitted by law, FocusAlpha shall not be liable for:

• trading losses;
• investment losses;
• missed investment opportunities;
• lost profits;
• lost business opportunities;
• indirect damages;
• incidental damages;
• consequential damages;
• special damages; or
• punitive damages.

In no event shall FocusAlpha be liable for losses arising from:

• AI-generated outputs;
• incomplete data;
• delayed data;
• unavailable data;
• missing coverage;
• retrieval errors;
• tagging errors;
• classification errors; or
• service interruptions.

FocusAlpha's aggregate liability arising out of or relating to the Services shall not exceed the total subscription fees paid by you during the twelve (12) months preceding the event giving rise to the claim.

17. Suspension and Termination

FocusAlpha may suspend or terminate access to the Services at any time if:

• you violate these Terms;
• your use poses security, legal, operational, or reputational risks;
• continued access may expose FocusAlpha to liability; or
• FocusAlpha discontinues the Services.

Upon termination, all rights granted under these Terms immediately cease.

18. Modifications

FocusAlpha may modify these Terms from time to time.

Continued use of the Services following publication of updated Terms constitutes acceptance of the revised Terms.

19. Governing Law

These Terms shall be governed by and construed in accordance with the laws of the State of Delaware, without regard to conflict of law principles.

Any dispute arising out of or relating to these Terms shall be resolved exclusively in the state or federal courts located in Delaware.

20. Contact

Questions regarding these Terms may be directed to:

Support@focusalpha.ai