TikTok Revenue in the US 2026
TikTok’s revenue story in the United States is one of the most dramatic financial rises in the history of digital media. From pulling in just $1 billion in US revenue in 2020, the platform has grown into a multi-billion dollar commercial juggernaut that now commands the attention of nearly every major advertiser, brand, and e-commerce seller operating in the American market. In 2026, the US remains TikTok’s single largest market, accounting for roughly 38% of the platform’s entire global advertising income — a remarkable concentration of revenue from a country that represents just 10% of TikTok’s total user base worldwide, according to eMarketer.
What makes TikTok’s US revenue trajectory even more striking is that this growth has occurred despite years of regulatory uncertainty, divestiture pressure, and the looming threat of an outright ban. According to WARC Media’s 2026 advertising forecasts, TikTok’s US ad revenue is projected to reach $14.5 billion in 2026, climbing further to $16.7 billion in 2027. The platform’s total US income — when combined with TikTok Shop e-commerce, in-app purchases, and creator monetization — pushes well beyond that advertising figure, confirming TikTok as a full-stack revenue machine that is reshaping how the United States thinks about social commerce, digital advertising, and short-form video content.
Interesting TikTok Revenue Facts in the US 2026
| Fact | Data Point |
|---|---|
| US ad revenue share of global total | 38% of TikTok’s global ad income comes from the US (eMarketer, WARC) |
| US users vs US revenue disparity | The US has 10% of TikTok users but generates 41% of global ad revenue (eMarketer) |
| US net ad revenue — 2025 actual | $11.01 billion net ad revenue in the US in 2025 (eMarketer) |
| US net ad revenue — 2026 projected | $14.5 billion projected US ad revenue in 2026 (WARC Media) |
| US net ad revenue — 2027 projected | $17.17 billion projected US ad revenue in 2027 (eMarketer) |
| TikTok total US revenue — 2024 | $10 billion in total US revenue in 2024 (Backlinko, MarketWatch) |
| TikTok ad ROI in the US | TikTok ads return an average of $4.13 for every $1 spent vs $3.21 on Instagram (Marketing LTB) |
| US businesses on TikTok | Over 7 million US businesses rely on TikTok for marketing and sales (Cropink) |
| US TikTok Shop GMV — 2025 | $15.1 billion in US TikTok Shop GMV in 2025, up 68% YoY (Momentum Works / Tabcut) |
| US TikTok Shop GMV — 2026 projection | Projected to surpass $20 billion in 2026 (eMarketer) |
| US social commerce share | TikTok Shop holds 18.2% of total US social commerce in 2025 (eMarketer) |
| US social buyers on TikTok — 2026 | TikTok will surpass 50% of US social buyers in 2026 — 1 in 2 social shoppers (eMarketer) |
| US in-app purchases — Q4 2024 | $1.123 billion in global in-app purchase revenue in Q4 2024 alone (Cropink) |
| TikTok brand value 2024 | TikTok’s brand value reached $84.2 billion in 2024, up from $65.7 billion in 2023 |
| US ad revenue 2026 YoY growth | US ad revenue growing at +17.9% YoY in 2026 (WARC Media) |
Sources: eMarketer (Sep 2025 & Dec 2025), WARC Media Advertising Forecasts 2026, Momentum Works, Business of Apps
The table above lays out one of the most compelling revenue patterns in digital media right now. The single most telling figure is the gap between US user share (10%) and US ad revenue share (41%) — it means each American TikTok user is worth roughly 4 times more to advertisers than the global average user. This is not a coincidence. US advertisers pay a premium for access to TikTok’s American audience because the purchase intent, disposable income, and consumer behavior data available in the US market makes every impression disproportionately valuable. Combined with the verified $14.5 billion US ad revenue projection for 2026 from WARC and the $15.1 billion TikTok Shop US GMV reported by Momentum Works and Tabcut for 2025, the numbers paint a picture of a platform that has successfully converted cultural dominance into hard commercial revenue at a speed no social platform has matched before.
TikTok US Advertising Revenue in the US 2026
| Year | TikTok US Ad Revenue | YoY Growth | Source |
|---|---|---|---|
| 2020 | $1.0 billion | — | Cropink / Business of Apps |
| 2021 | $2.1 billion | +110% | Business of Apps |
| 2022 | $3.8 billion | +81% | Business of Apps |
| 2023 | $6.0 billion | +58% | Business of Apps / Statista |
| 2024 | $12.29 billion | +105% | eMarketer |
| 2025 | $14.03 billion | +22.3% | eMarketer (Sep 2025 forecast) |
| 2026 (Projected) | $14.5 billion | +17.9% | WARC Media / eMarketer |
| 2027 (Projected) | $17.17 billion | +18.4% | eMarketer |
Source: eMarketer US TikTok Ad Revenue Forecast (September 2025); WARC Media Advertising Forecasts 2026; Business of Apps TikTok Revenue Data (January 2026)
TikTok’s US advertising revenue has followed a trajectory that no other social platform has replicated in such a short window of time. Going from $1 billion in 2020 to a projected $14.5 billion in 2026 represents a 1,350% increase in six years — growth that occurred across the most turbulent regulatory period any social media platform has ever navigated in the American market. The 2024 figure of $12.29 billion, verified by eMarketer, is particularly significant because it confirms that the US market nearly doubled in a single year — a jump driven by the maturation of TikTok’s ad products, the explosive uptake of TikTok Shop advertising formats, and a broader industry migration of brand budgets toward short-form video inventory.
What the 2026 projection of $14.5 billion (WARC) and $14.03 billion (eMarketer’s September 2025 forecast) tells the market is that TikTok’s US advertising growth rate is normalizing — moving from the hyper-growth phase of 2022–2024 into a more sustainable double-digit expansion arc. The +17.9% YoY growth in 2026 still outpaces the overall global social media market’s +14.7% growth in the same period, per WARC. Importantly, the $1 out of every $7 spent on US social network ads going to TikTok confirms the platform now occupies a structural position inside American media plans — not a discretionary add-on, but a baseline allocation for any brand targeting users under 45.
TikTok Shop Revenue and E-Commerce in the US 2026
| Metric | Figure | Source |
|---|---|---|
| US TikTok Shop GMV — 2024 | $9 billion | Momentum Works / Tabcut |
| US TikTok Shop GMV — 2025 | $15.1 billion (+68% YoY) | Momentum Works / Tabcut (Feb 2026) |
| US TikTok Shop GMV — H1 2025 | $5.8 billion (+91% YoY) | Momentum Works / Tabcut |
| US TikTok Shop GMV — 2026 projection | $20+ billion | eMarketer (Dec 2025) |
| US TikTok Shop GMV — 2028 projection | $30+ billion | eMarketer |
| US Social Commerce Market Share — 2025 | 18.2% held by TikTok Shop | eMarketer |
| US Social Commerce Market Share — 2027 | Projected 24.1% | eMarketer |
| US TikTok Buyers — 2025 | 53.2 million buyers (+13.6% YoY) | eMarketer |
| US TikTok Buyers — 2026 | 57.7 million buyers (+8.6% YoY) | eMarketer |
| US Social Commerce Total Market — 2025 | $87.02 billion total | eMarketer |
| US Social Commerce Total Market — 2026 | Projected to exceed $100 billion | eMarketer |
| US TikTok Shop stores — 2025 | 803,500 stores active in the US | Momentum Works / Tabcut |
| Black Friday 2025 US TikTok Shop | $500 million in sales during BFCM week | Business Insider |
| TikTok Shop Global GMV — 2025 | $64.3 billion across 16 markets (+94% YoY) | Momentum Works / Tabcut |
Source: eMarketer TikTok Shop Press Release (December 2025); Momentum Works & Tabcut “TikTok Shop in the U.S. 2025” Report (February 2026); Business Insider BFCM 2025 Report
TikTok Shop’s US revenue story in 2025 and heading into 2026 is arguably the most important development in American e-commerce since the rise of Amazon Marketplace. According to the freshest verified data — Momentum Works and Tabcut’s February 2026 report — TikTok Shop US GMV reached $15.1 billion in 2025, up 68% year-over-year from $9 billion in 2024. That growth rate, while lower than the extraordinary 407% increase in 2024 (as cited by eMarketer), still represents one of the fastest scaling e-commerce channels in US retail history. The $5.8 billion generated in H1 2025 alone, a 91% YoY increase over H1 2024, demonstrates that the platform’s shopping momentum was front-loaded and powerful throughout the year.
The eMarketer projection that US TikTok Shop sales will surpass $20 billion in 2026 and exceed $30 billion by 2028 aligns perfectly with the trajectory established by both verified 2025 actuals and the structural shift in US consumer buying behavior toward discovery-driven, in-app shopping. The fact that TikTok Shop now commands 18.2% of total US social commerce, with the broader social commerce market heading toward its first $100 billion year in 2026, illustrates how much of the retail economy TikTok has quietly absorbed. With 57.7 million projected US buyers in 2026 — representing more than 1 in 2 social media shoppers in America — TikTok Shop is no longer a niche channel. It is a mainstream retail destination.
TikTok US Revenue vs Global Revenue in the US 2026
| Metric | US Figure | Global Figure | US Share | Source |
|---|---|---|---|---|
| Ad Revenue — 2024 | $12.29 billion | $23.58 billion | ~52% | eMarketer / Business of Apps |
| Ad Revenue — 2025 | $14.03 billion | ~$33.12 billion | ~42% | eMarketer / DemandSage |
| Ad Revenue — 2026 (Projected) | $14.5 billion | ~$38.2 billion | ~38% | WARC Media |
| TikTok Users — 2026 | 153 million | ~1.9 billion | ~8% | eMarketer / Charle Agency |
| TikTok Shop GMV — 2025 | $15.1 billion | $64.3 billion | ~23% | Momentum Works / Tabcut |
| Revenue per user | ~$91.70 (US) | ~$17.43 (Global avg) | 5.3x higher | Calculated from eMarketer data |
| Ad Revenue YoY Growth — 2026 | +17.9% | +18.3% | US trails global slightly | WARC Media |
| Projected Global Ad Revenue — 2027 | $16.7 billion (US) | ~$53.95 billion | ~31% | eMarketer / DemandSage |
Source: eMarketer Global and US TikTok Ad Revenue Forecasts; WARC Media Q4 2025 Advertising Spend Forecasts; Momentum Works & Tabcut TikTok Shop Report 2025; Business of Apps TikTok Revenue Statistics (January 2026)
The US vs. global revenue comparison is where TikTok’s American dominance becomes impossible to overstate. The US has only about 8% of TikTok’s total user base, yet in 2024 it generated approximately 52% of TikTok’s global ad revenue — a monetization ratio that dwarfs every other market. By 2026, as TikTok’s international markets mature and accelerate their own ad revenue growth, the US share is projected to normalize to around 38% (WARC) — still an extraordinary concentration for a single country. The revenue per US user of approximately $91.70 versus a global average of roughly $17.43 confirms what eMarketer has been reporting: American TikTok users are worth about 5 times more to the platform than the average global user.
The slight divergence in 2026 growth rates — US at +17.9% vs. global at +18.3% — signals that while the US remains the crown jewel, TikTok’s fastest marginal growth is now happening internationally. This matters because it suggests TikTok’s US revenue base is not at risk of collapse; it is simply becoming a proportionally smaller slice of a much larger global pie. For US-based advertisers and brands, the implication is that competition for TikTok’s American inventory will intensify in 2026 and beyond, which historically pushes CPMs upward and strengthens the platform’s revenue position even further.
TikTok US Advertising Market Position in the US 2026
| Metric | TikTok US | Comparison / Context | Source |
|---|---|---|---|
| US Ad Revenue — 2026 | $14.5 billion | vs. Meta US ~$61B | WARC / eMarketer |
| Share of US social network ad spend | ~$1 in every $7 on US social ads | Platform concentration metric | eMarketer |
| Average CPM | ~$9.16 | vs. Instagram ~$10–$12 CPM | Marketing LTB |
| Average CPC | ~$1.00 | Competitive cost-per-click | Marketing LTB |
| Ad ROI | $4.13 per $1 spent | vs. Instagram $3.21 per $1 | Marketing LTB / Charle Agency |
| US Weekly Users Taking Action After Ads | 83% of weekly US TikTok users | Including 43% who made a purchase | Edison Research / eMarketer |
| US Advertising Audience Size | 113.3 million people in the US | Largest single-country ad audience | DemandSage / DataReportal |
| US Businesses Using TikTok | 7 million+ businesses | For marketing and direct sales | Cropink / Cool Nerds Marketing |
| Marketers Reporting Better TikTok Ad Performance | 56% report better results vs other platforms | Among those actively using TikTok | The Frank Agency |
| Brands Leveraging TikTok | Only 28% of marketers use TikTok | Significant untapped market opportunity | The Frank Agency |
| Ad Reach — Global | 1.59 billion potential ad reach | 19.4% of world population | DataReportal / Charle Agency |
| Adoption growth among US users 45+ | +1,200% between 2019 and 2025 | Audience expanding beyond Gen Z | eMarketer |
Source: eMarketer US TikTok Ad Revenue Forecast (Sep 2025); WARC Media 2026 Ad Forecasts; DemandSage TikTok Ad Revenue Statistics; Marketing LTB CPM/CPC Data; Edison Research TikTok US Consumer Survey; The Frank Agency TikTok Statistics 2026
TikTok’s position in the US advertising market has shifted fundamentally in 2025 and 2026 from that of a high-growth challenger to an entrenched, budget-line staple. The $14.5 billion US ad revenue projection for 2026 means TikTok is now collecting roughly $1 out of every $7 spent on social network ads in America — a share that would have seemed implausible just four years ago when the platform was still fighting legal battles over its very right to operate. The combination of a $9.16 average CPM (more competitive than Instagram’s average), an ad ROI of $4.13 per $1 spent versus Instagram’s $3.21, and the verified data point that 83% of weekly US TikTok users take action after seeing an ad (including 43% making a direct purchase) creates a closed-loop commercial argument that is hard for any performance-focused advertiser to ignore.
What is particularly striking for US market analysts is the scale of untapped opportunity: only 28% of marketers are currently leveraging TikTok, yet 56% of those who do report superior ad performance compared to other platforms. This gap between adoption rate and performance satisfaction is what is driving the revenue growth forecast for 2026 and 2027. As more US businesses — especially the 7 million+ that already rely on TikTok for marketing — mature their platform strategy and move from experimental budgets to committed allocations, the structural tailwinds behind the $17.17 billion 2027 US ad revenue forecast from eMarketer become easier to understand.
TikTok US Revenue Streams Breakdown in the US 2026
| Revenue Stream | US / Global Contribution | Key Data Point | Source |
|---|---|---|---|
| Advertising (US) | ~$14.5 billion (2026 projected) | Largest single revenue driver | WARC / eMarketer |
| TikTok Shop (US GMV 2025) | $15.1 billion | 68% YoY GMV growth | Momentum Works / Tabcut |
| TikTok Shop (US GMV 2026 projected) | $20+ billion | Surpassing $20B threshold | eMarketer |
| In-App Purchases (Global Q4 2024) | $1.123 billion (Q4 2024) | Coins, gifts, LIVE monetization | Cropink / Business of Apps |
| Creator Economy Revenue (Global 2024) | ~$4.1 billion globally | Paid to TikTok creators | TekRevol |
| Creator Economy Revenue (Global 2025) | ~$5.7 billion (projected) | Strong creator monetization growth | TekRevol |
| Global Total Revenue — 2024 | ~$23 billion | 42.8% YoY increase | Business of Apps |
| Global Total Revenue — 2025 | ~$28.4–$28.6 billion | Based on H1 actual + H2 projection | BizReport / Business of Apps |
| Advertising as % of Total Revenue | ~70–77% | Ads remain dominant income driver | Business of Apps / TekRevol |
| TikTok Shop as % of Total Revenue | ~20% | Rapidly growing second stream | TekRevol |
| In-App Purchases as % of Total Revenue | ~10% | Live gifts and virtual coins | TekRevol |
Source: Momentum Works & Tabcut “TikTok Shop in the U.S. 2025” (February 2026); eMarketer TikTok Shop Press Release (December 2025); Business of Apps TikTok Revenue & Usage Statistics (January 2026); Cropink TikTok Revenue Statistics; TekRevol TikTok Statistics 2026
TikTok’s revenue mix in 2026 tells the story of a platform that has successfully diversified beyond pure advertising dependency, even though advertising remains the dominant income stream at roughly 70–77% of total global revenue. The three-pillar structure — advertising, TikTok Shop commerce, and in-app purchases — gives the platform a resilience that platforms like Snapchat or Pinterest have never managed to build. In the US specifically, the advertising pillar is the most financially significant at ~$14.5 billion in 2026, but the TikTok Shop pillar at $15.1 billion in 2025 US GMV (from which TikTok earns commission fees, advertising within the shop, and promoted listings) is catching up at extraordinary speed. The verified $1.123 billion in global in-app purchase revenue in Q4 2024 alone — driven by the TikTok LIVE gifting economy where US users buy virtual coins to send gifts to creators — adds a third, community-powered revenue channel that scales with creator adoption rather than advertiser budgets.
The creator economy angle is particularly important for the US market. TikTok creators globally earned approximately $4.1 billion in 2024, projected to grow to $5.7 billion in 2025 — much of which flows through US-based creators who monetize through TikTok’s Creator Fund, LIVE gifts, branded partnerships, and TikTok Shop affiliate commissions. This creator payout structure is effectively a reinvestment of revenue back into the content supply chain that sustains TikTok’s advertising value. The more creators earn, the more quality content gets produced, which keeps users engaged, which maintains advertiser demand — a flywheel that the $14.5 billion 2026 US ad revenue projection is built directly upon.
TikTok US Revenue Growth Trajectory and Projections in the US 2026
| Year | US Ad Revenue | Global Ad Revenue | US TikTok Shop GMV | Sources |
|---|---|---|---|---|
| 2022 | $3.8 billion | $9.9 billion | Not launched in US | Business of Apps |
| 2023 | $6.0 billion | $13.2 billion | ~$0.15 billion | Business of Apps / Statista |
| 2024 | $12.29 billion | $23.58 billion | $9.0 billion | eMarketer / Momentum Works |
| 2025 | $14.03 billion | ~$33.12 billion | $15.1 billion | eMarketer / Momentum Works |
| 2026 (Proj.) | $14.5 billion | ~$38.2 billion | $20+ billion | WARC / eMarketer |
| 2027 (Proj.) | $17.17 billion | ~$53.95 billion | $30+ billion | eMarketer / DemandSage |
Source: eMarketer US and Global TikTok Ad Revenue Forecasts (September 2025); WARC Media Q4 2025 Global Advertising Forecasts; Momentum Works & Tabcut TikTok Shop US Annual Reports; Business of Apps TikTok Revenue Statistics; DemandSage TikTok Ad Revenue Data
The combined US revenue trajectory table — placing advertising revenue alongside TikTok Shop GMV — shows the full financial arc of TikTok’s American market penetration with extraordinary clarity. In 2022, TikTok Shop did not exist in the US. By 2024, it had already reached $9 billion in US GMV. By 2025, it hit $15.1 billion — and projections show it crossing $20 billion in 2026 and $30 billion in 2028, according to eMarketer. Simultaneously, US advertising revenue has gone from $3.8 billion in 2022 to a projected $17.17 billion in 2027 — a 352% increase in five years from a single country. No social media platform in history has scaled a national ad market this quickly.
What the 2026 and 2027 projections confirm for US market observers is that TikTok’s revenue ceiling in America is still not visible. The $21.43 billion US ad revenue projection for 2027 from eMarketer — combined with a TikTok Shop GMV trajectory heading toward $30+ billion by 2028 — puts total combined US commercial value well above $50 billion by 2028, rivaling or surpassing what many legacy media networks generate from American audiences across all formats. For advertisers, brands, creators, and investors watching the 2026 TikTok landscape, the overriding data message is consistent: TikTok’s US revenue machine is accelerating, its diversification is working, and every verified data point from eMarketer, WARC, and Momentum Works confirms that the next chapter of TikTok’s income story in the United States will be even larger than what has already been achieved.
Official TikTok Newsroom Data — US Revenue & Economic Impact in the US 2026
| Official TikTok Stat | Verified Figure | Official Source & Date |
|---|---|---|
| SMB paid advertising drove US revenue | Nearly $15 billion in US revenue in 2023 | Oxford Economics Report, TikTok Newsroom, March 13, 2024 |
| TikTok SMB contribution to US GDP | $24.2 billion to US GDP in 2023 | Oxford Economics Report, TikTok Newsroom, March 13, 2024 |
| US jobs supported by SMBs on TikTok | 224,000 American jobs supported | Oxford Economics Report, TikTok Newsroom, March 13, 2024 |
| US taxes supported by TikTok SMBs | $5.3 billion in taxes to the US government in 2023 | Oxford Economics Report, TikTok Newsroom, March 13, 2024 |
| TikTok’s own US operations GDP impact | $8.5 billion contribution to GDP from TikTok’s own US operations | Oxford Economics Report, TikTok Newsroom, March 13, 2024 |
| TikTok US operations — jobs & taxes | 59,000 jobs and $2 billion in taxes from TikTok’s direct US presence | Oxford Economics Report, TikTok Newsroom, March 13, 2024 |
| SMBs calling TikTok critical to their existence | Nearly 40% of SMBs say TikTok is critical to their business’s survival | Oxford Economics Report, TikTok Newsroom, March 13, 2024 |
| US businesses & active users on TikTok | 7 million businesses and 170 million active users in the US | TikTok Newsroom, March 2024 (official company figures) |
| TikTok searches growth YoY | Billions of daily searches, up more than 40% from last year | TikTok Internal Data, Global 2025 — TikTok World ’25, June 3, 2025 |
| US users who search within 30 seconds | 1 in 4 TikTok users start searching within the first 30 seconds of opening the app | TikTok Internal Data, US users, June 2024 — TikTok World ’25, June 3, 2025 |
| Ads improving platform experience | 41% of TikTok users say entertaining ads make the TikTok experience better | TikTok Marketing Science Global Entertaining Ads Study 2022, Marketcast — TikTok World ’25, June 3, 2025 |
| Search users discovering beyond their query | 2 in 3 TikTok searchers say they discover useful things beyond what they searched for | TikTok Marketing Science Global Future of Search Study 2025, conducted by WARC — TikTok Next 2026, January 14, 2026 |
| Users trusting TikTok for real product usage | 81% of users say TikTok provides a view into real-life product usage | TikTok Marketing Science US Commerce Landscape Study 2024, Ipsos — TikTok Next 2026, January 14, 2026 |
| TikTok Search Ads performance (Eventbrite case) | +66% increase in click-through rates and -33% decrease in CPAs | TikTok Official Advertiser Case Study — TikTok World ’25, June 3, 2025 |
| Content Suite UGC discovery improvement | Content Suite surfaces 40x more relevant brand results than searching in-app | TikTok Data Science Internal Analysis, April 2024 — TikTok World ’25, June 3, 2025 |
Source: All data in this table is sourced exclusively from TikTok’s official company Newsroom publications: (1) “Oxford Economics Reports: SMB’s use of TikTok Contributed $24.2 Billion to U.S. Economy in 2023,” newsroom.tiktok.com, March 13, 2024; (2) “TikTok World ’25: Driving Full-Funnel Growth with AI, Creativity, and Community,” newsroom.tiktok.com, June 3, 2025; (3) “Introducing TikTok Next 2026: Our Trend Forecast for Marketers for the Year Ahead,” newsroom.tiktok.com, January 14, 2026.
The official TikTok Newsroom data tells a story that no third-party analyst can fully replicate — it comes straight from the company’s own verified publications, commissioned research, and internal data. The most commercially significant figure is the Oxford Economics finding (published directly on TikTok’s Newsroom in March 2024) that SMB investments in paid advertising and marketing on TikTok drove nearly $15 billion in US revenue in 2023 alone, with the combined economic value of those SMBs’ TikTok use reaching $24.2 billion in US GDP contribution. This is TikTok’s own commissioned research confirming the scale of its US commercial engine — and it covers only the SMB segment, not enterprise brands, which means the true total US revenue impact is dramatically larger. The fact that nearly 40% of SMBs say TikTok is critical to their business’s very existence underlines how deeply the platform has become woven into the fabric of American small business revenue generation, not merely a marketing channel.
What makes the TikTok Next 2026 and TikTok World ’25 official data particularly important for revenue context is the behavioural evidence it provides for why TikTok monetizes so efficiently. When 1 in 4 US users searches within 30 seconds of opening the app, when billions of daily searches are growing at 40%+ YoY, and when 81% of users say TikTok shows them real-life product usage — these are not abstract user metrics. They are the exact behavioral signals that explain how a platform converts engagement into commerce and advertising revenue at the rate reflected in the $14.5 billion projected US ad revenue for 2026. TikTok’s own data, published officially on its Newsroom, provides the foundational behavioral proof behind every revenue figure in this article — making it the most authoritative primary source available on the platform’s US commercial performance.
Disclaimer: This research report is compiled from publicly available sources. While reasonable efforts have been made to ensure accuracy, no representation or warranty, express or implied, is given as to the completeness or reliability of the information. We accept no liability for any errors, omissions, losses, or damages of any kind arising from the use of this report.

