Terms and Conditions

Last updated: October 27, 2026

These Terms and Conditions govern your use of advancedanalyticsus.com and every report, forecast, workbook, presentation and subscription sold or given away through it. By creating an account, buying, downloading or using any of it, you agree to these Terms. If you do not agree, do not use the site or the materials.

1. About These Terms

1.1 Who we are. “Advanced Analytics,” “we,” “us” and “our” mean Advanced Analytics US LLC, a Texas limited liability company based in Houston, Texas, and any successor or assignee under Section 14.3. “You” means the person or organization that accesses the site or the Materials. If you accept these Terms for an organization, you confirm that you have authority to bind it, and “you” includes that organization.

1.2 What these Terms cover. These Terms apply to the website, to the Advanced Analytics: Annual Access subscription, and to all research content we publish, including the Full Spectrum Reports and the Quarterly Reports (including The Turbine Line, The Natural Resource and The Valve Line), together with any Excel workbook, PDF, PowerPoint file, dataset, chart or written analysis delivered with them (together, the “Materials”).

1.3 Other agreements. Consulting, custom forecasts, advisory work and any other engagement we agree to separately are governed by a signed proposal, statement of work or engagement letter. If that document conflicts with these Terms, the signed document controls for that engagement only.

1.4 Changes to these Terms. We may update these Terms from time to time. The “last updated” date at the top shows the current version. Changes apply from the date posted, except that a change to price or to the dispute resolution terms will not apply to a subscription term you have already paid for. If you keep using the site or the Materials after a change takes effect, you accept the updated Terms.

2. Eligibility and Business Use

2.1 Professional audience. The Materials are written for institutional investors, private equity firms, manufacturers, utilities, engineering firms, infrastructure developers, financial institutions and corporate executives. You must be at least 18 years old and able to form a binding contract to use the site or buy anything on it.

2.2 Business purchase. You confirm that you are acquiring the Materials for business, professional or research purposes, and not for personal, family or household use.

2.3 Sanctions and export rules. You may not use or buy the Materials if you are located in, or are a national of, a country subject to comprehensive U.S. sanctions, or if you appear on any U.S. government restricted party list. You will not export or re-export the Materials in violation of U.S. law.

3. Advanced Analytics: Annual Access

3.1 What it includes. Advanced Analytics: Annual Access is a one-year subscription for one named individual. It gives that person access to the Materials we make available in the Full Spectrum Reports and the Quarterly Reports during the subscription term. It does not include consulting, custom research, analyst time or any engagement covered by Section 1.3.

3.2 Release schedule. We release Materials to subscribers on a schedule we set, not all at once on the first day. Subscribers receive existing library titles in stages and new titles as they are published. We do not promise a particular number of reports, a particular publication date, or that any title announced or in progress will be published. We may revise, update, rename, combine or retire any title.

3.3 Automatic renewal. YOUR SUBSCRIPTION RENEWS AUTOMATICALLY FOR ANOTHER ONE-YEAR TERM AT THE END OF EACH TERM, AND WE WILL CHARGE THE PAYMENT METHOD ON FILE AT THE THEN-CURRENT PRICE, UNLESS YOU CANCEL BEFORE THE RENEWAL DATE. We will send a reminder to your account email before each renewal.

3.4 Cancellation. You may cancel at any time from your account page or by emailing dtass@advancedanalyticsus.com. Cancellation stops the next renewal. You keep access until the end of the term you have paid for.

3.5 Price changes. We may change the subscription price or structure. A change will not affect a term you have already paid for. We will notify you by email at least 30 days before a renewal at a new price, and you may cancel before that renewal.

3.6 Free content. We may offer some Materials, such as Full Spectrum: Transformers, free of charge. Free Materials are subject to these Terms, including the license limits in Sections 5 and 6, except that no fee applies. We may withdraw free access at any time.

4. Payment, Taxes and Refunds

4.1 Payment. Prices are in U.S. dollars and are due in full at checkout. Payments are processed by third-party payment processors. You authorize us and our processors to charge your payment method for the initial term and each renewal.

4.2 Taxes. Prices do not include sales, use, value added or similar taxes. We will add any tax we are required to collect, and you are responsible for any tax due in your jurisdiction.

4.3 No refunds. The Materials are digital goods delivered immediately or on our release schedule, and access cannot be returned. ALL SALES ARE FINAL AND FEES ARE NON-REFUNDABLE, INCLUDING FOR PARTIAL TERMS AND FOR MATERIALS YOU DID NOT DOWNLOAD, except where the law requires otherwise or where we decide, in our sole discretion, to issue a refund or credit.

4.4 Failed payments and chargebacks. If a renewal payment fails, we may suspend access until it is paid. If you dispute a valid charge with your bank or card issuer instead of contacting us first, we may suspend your account and all access while the dispute is open, and we may recover our collection costs.

5. Your License

5.1 Grant. Subject to these Terms and to payment, we grant the named subscriber a limited, personal, non-exclusive, non-transferable, non-sublicensable, revocable license, during the subscription term, to download, view and use the Materials for that person’s own internal business research and analysis.

5.2 What you may do. You may open and work with the Excel workbooks and change inputs for your own analysis. You may quote short excerpts of the Materials, or a single chart, in an internal document or presentation, if you credit “Source: Advanced Analytics” with the report title and date. You may keep copies you downloaded during an active term for your own internal reference after the term ends, subject to Section 6 and to any termination for breach under Section 12.

5.3 Organizations. A subscription is for one named individual, even if an organization pays for it. Colleagues need their own subscriptions. For multi-user or enterprise access, contact us for a separate written license.

5.4 Reservation. Every right not expressly granted in these Terms is reserved by Advanced Analytics. A license is not a sale, and no ownership of any Material passes to you.

6. Restrictions and Redistribution

6.1 What you may not do. Except as Section 5.2 allows, you may not, and may not let anyone else:

• share, forward, email, post, upload, resell, rent, lend or otherwise distribute any Material, in whole or in part, to anyone who is not the named subscriber, including colleagues, clients, affiliates or portfolio companies;
• share your login, or let more than one person use one account;
• place any Material on a shared drive, intranet, data room, research portal, website or file-sharing service that others can reach;
• copy, excerpt or republish substantial portions of any Material, or rebuild any report, dataset, register, model or forecast from it;
• use any Material in a product, report, newsletter, database or service you sell or give to others, or in work for a paying client, without our written license;
• use any Material, in whole or in part, to train, fine-tune, ground, evaluate or feed any artificial intelligence or machine learning model, or load it into any AI tool that retains or learns from it;
• scrape, crawl, bulk download or use automated means to access the site or the Materials;
• remove, hide or alter any copyright notice, watermark, source line, disclaimer or identifying mark; or
• use any Material to build a competing research product or service.

6.2 Identification. Delivered files may carry visible or invisible marks that identify the subscriber who received them. If a Material is found anywhere it should not be, we may use those marks to identify the account it came from, and you will be responsible for any distribution traced to your account unless you show it occurred without your fault.

6.3 Agreed damages for unauthorized distribution. Unauthorized distribution causes harm that is real but hard to measure, because one shared file can replace many subscriptions. You therefore agree that for each person or organization that receives Materials through you in breach of this Section 6, you will pay us, as liquidated damages and not as a penalty, an amount equal to the full annual subscription price in effect at the time of the breach. This is in addition to our right to terminate your access and to seek an injunction, and it does not limit our remedies for any breach that is willful or commercial in scale.

6.4 Injunctions. Because a breach of Sections 5 or 6 would cause us irreparable harm, we may seek a court order to stop it without posting a bond, in addition to any other remedy.

7. Ownership

7.1 Our property. The site and the Materials, including their text, analysis, forecasts, models, formulas, workbook structures, datasets, registers, compilations, charts, diagrams, page designs, product names and the Advanced Analytics name and logo, are owned by Advanced Analytics or its licensors and are protected by U.S. and international copyright, trademark, trade secret and database laws. Our selection, arrangement and compilation of facts, including facts drawn from public sources, is our original work.

7.2 Product names. Advanced Analytics, Full Spectrum, The Turbine Line, The Natural Resource, The Valve Line and our other product names and logos are our trademarks. You may not use them in a way that suggests we endorse you or your product.

7.3 Third-party names. Company names, logos and trademarks that appear in the Materials belong to their owners and are used only to identify and describe those companies. Their appearance does not mean any company sponsors, endorses or is affiliated with Advanced Analytics.

7.4 Feedback. If you send us suggestions or comments about the Materials, we may use them freely without obligation to you.

8. Not Investment Advice

8.1 General research only. The Materials are impersonal industry and market research, published for a general professional audience. They are not investment, legal, tax, accounting, engineering or other professional advice, and they are not tailored to anyone’s objectives, finances or circumstances.

8.2 No recommendation or offer. Nothing in the Materials is a recommendation, offer or solicitation to buy, sell or hold any security, commodity or other investment, or to make any business decision. Discussion of a company, including a forecast that touches its market, is not a view on its securities.

8.3 Not a registered adviser. Advanced Analytics is not registered as an investment adviser, broker-dealer or financial planner with the U.S. Securities and Exchange Commission or any state, and nothing on the site or in the Materials should be read as personalized investment advice.

8.4 Your decisions. You are solely responsible for every decision you make using the Materials. Consult your own qualified advisers before acting.

8.5 Positions. People associated with Advanced Analytics may from time to time hold, buy or sell securities of companies mentioned in the Materials. We do not undertake to disclose those positions unless the law requires it.

9. Forecasts, Data and Sources

9.1 Forecasts are estimates. Forecasts, projections, scenarios and modeled figures in the Materials are our estimates about uncertain future events, built on assumptions that may prove wrong. Actual results will differ, and may differ materially. A base, bear or bull case is an illustration of a range, not a promise that results will fall inside it.

9.2 House estimates. Much of what the Materials contain is derived or modeled by us rather than reported by an outside source. We label measured, derived and house figures where we can. Read those labels, the stated assumptions and the limitations before relying on any figure.

9.3 Public sources. We build the Materials from public sources such as government agencies, company filings and disclosures, and industry publications. We do not control those sources, they can contain errors, and they are often revised after we publish. We do not guarantee that any source, or our use of it, is accurate, complete or current.

9.4 As of a date. Each Material speaks only as of its stated date. We have no duty to update a published Material for later events or revised data, though we may choose to.

9.5 Tools we use. We prepare the Materials with a combination of our own analysis and software tools, which may include artificial intelligence tools, under our research methodology. That methodology reduces errors but does not eliminate them.

9.6 Reporting errors. If you believe a figure is wrong, tell us at dtass@advancedanalyticsus.com. We review every report and correct confirmed errors in a later version where we think it warranted.

10. Accounts and Website Use

10.1 Your account. Give accurate information when you register and keep it current. Keep your password confidential. You are responsible for all activity under your account, and you must tell us promptly if you suspect unauthorized use.

10.2 Acceptable use. You may not interfere with the site’s operation or security, try to reach any part of it you are not authorized to reach, get around any access control or release schedule, introduce malware, or use the site for any unlawful purpose.

10.3 Availability. We aim to keep the site available but do not promise uninterrupted access. We may change, suspend or discontinue any part of the site at any time.

10.4 Third-party services. Checkout, payment, hosting and email run on third-party services. Their terms and privacy practices apply to them, and we are not responsible for their acts or outages. Links to other websites are for convenience and are not endorsements.

10.5 Privacy. Our Privacy Policy explains how we collect and use personal information and forms part of these Terms.

10.6 Electronic communications. You agree to receive notices, receipts and renewal reminders by email at your account address, and that these satisfy any requirement that a communication be in writing.

11. Disclaimers and Limitation of Liability

11.1 As is. THE SITE AND THE MATERIALS ARE PROVIDED “AS IS” AND “AS AVAILABLE.” TO THE FULLEST EXTENT THE LAW ALLOWS, ADVANCED ANALYTICS DISCLAIMS ALL WARRANTIES, EXPRESS OR IMPLIED, INCLUDING ANY WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE, NON-INFRINGEMENT, ACCURACY, COMPLETENESS OR TIMELINESS, AND ANY WARRANTY ARISING FROM COURSE OF DEALING OR USAGE OF TRADE. WE DO NOT WARRANT THAT ANY FORECAST WILL PROVE CORRECT, THAT THE MATERIALS ARE ERROR-FREE, OR THAT THE SITE WILL BE UNINTERRUPTED OR SECURE.

11.2 No indirect damages. TO THE FULLEST EXTENT THE LAW ALLOWS, ADVANCED ANALYTICS WILL NOT BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, EXEMPLARY OR PUNITIVE DAMAGES, OR FOR ANY LOSS OF PROFITS, REVENUE, INVESTMENT VALUE, TRADING LOSSES, BUSINESS OPPORTUNITY, GOODWILL OR DATA, ARISING FROM OR RELATED TO THE SITE, THE MATERIALS OR THESE TERMS, EVEN IF WE WERE TOLD SUCH DAMAGES WERE POSSIBLE.

11.3 Cap. TO THE FULLEST EXTENT THE LAW ALLOWS, OUR TOTAL LIABILITY FOR ALL CLAIMS ARISING FROM OR RELATED TO THE SITE, THE MATERIALS OR THESE TERMS, ON ANY LEGAL THEORY, WILL NOT EXCEED THE GREATER OF (A) THE FEES YOU PAID US IN THE TWELVE MONTHS BEFORE THE EVENT GIVING RISE TO THE CLAIM, OR (B) ONE HUNDRED U.S. DOLLARS.

11.4 Reliance. You agree that you will not rely on the Materials as the sole basis for any investment, lending, purchasing, construction or other business decision, and that the limits in this Section reflect a fair allocation of risk and are part of the basis of our pricing.

11.5 Where the law differs. Some jurisdictions do not allow certain warranty exclusions or liability limits. In those places, the exclusions and limits apply to the greatest extent the law allows.

12. Indemnification, Suspension and Termination

12.1 Indemnity. You will defend, indemnify and hold harmless Advanced Analytics US LLC and its members, managers, officers, employees, contractors, successors and assigns from any claim, loss, liability, damage, cost or expense, including reasonable attorneys’ fees, arising from your breach of these Terms, your misuse of the Materials, any distribution of the Materials through your account, or any decision you or anyone you share the Materials with makes using them.

12.2 Suspension and termination by us. We may suspend or terminate your account and access immediately, without refund, if we reasonably believe you have breached Sections 5 or 6, shared your login, failed to pay, filed an improper chargeback, or used the site unlawfully. We may also end the subscription program for everyone, in which case we will refund the unused part of any prepaid term on a pro rata basis.

12.3 Effect of termination. When a subscription ends for breach, your license ends and you must stop using and delete every copy of the Materials in your possession, and confirm that you have done so if we ask.

12.4 Survival. Sections 4.3, 4.4, 6, 7, 8, 9, 11, 12, 13 and 14, and any accrued payment obligation, survive the end of your subscription or account.

13. Disputes, Arbitration and Governing Law

PLEASE READ THIS SECTION CAREFULLY. IT REQUIRES MOST DISPUTES TO BE RESOLVED BY INDIVIDUAL ARBITRATION AND WAIVES JURY TRIALS AND CLASS ACTIONS.

13.1 Talk to us first. Before starting any claim, email dtass@advancedanalyticsus.com describing the dispute and the outcome you want. Both sides will try in good faith to resolve it within 30 days.

13.2 Governing law. These Terms and any dispute arising from them, the site or the Materials are governed by the laws of the State of Texas, without regard to its conflict of laws rules, and by the Federal Arbitration Act.

13.3 Binding arbitration. Any dispute not resolved under Section 13.1 will be settled by final and binding arbitration administered by the American Arbitration Association under its Commercial Arbitration Rules, before a single arbitrator, seated in Houston, Harris County, Texas. Judgment on the award may be entered in any court with jurisdiction. The arbitrator decides all questions of scope and enforceability of this Section, except Section 13.4.

13.4 Individual claims only. YOU AND ADVANCED ANALYTICS EACH WAIVE THE RIGHT TO A JURY TRIAL AND TO BRING OR TAKE PART IN ANY CLASS, COLLECTIVE, CONSOLIDATED OR REPRESENTATIVE ACTION. Claims may be brought only in an individual capacity. If this Section 13.4 is found unenforceable for any claim, that claim proceeds in court under Section 13.6 and not in arbitration.

13.5 Exceptions. Either side may bring an individual claim in small claims court. We may also go to court to protect our intellectual property, to enforce Sections 5 and 6, or to seek an injunction, without first using arbitration.

13.6 Venue. Any matter that is allowed to proceed in court will be brought only in the state or federal courts located in Harris County, Texas, and you consent to their jurisdiction.

13.7 Time limit. Any claim against Advanced Analytics must be started within one year after it arises, or it is permanently barred, to the extent the law allows.

14. General Terms and Contact

14.1 Entire agreement. These Terms, the Privacy Policy and any order confirmation are the entire agreement between you and Advanced Analytics about the site and the Materials, and replace any earlier understanding. Terms in your purchase order or other document do not apply.

14.2 Severability and waiver. If any part of these Terms is unenforceable, it will be enforced to the maximum extent possible and the rest remains in effect. Our failure to enforce a provision is not a waiver of it.

14.3 Assignment. You may not assign or transfer these Terms or your subscription without our written consent. We may assign these Terms, your subscription and all our rights and obligations, without notice, to an affiliate or to a buyer of all or part of the Advanced Analytics business. After assignment, “Advanced Analytics” means the assignee. Subscriptions purchased before Advanced Analytics US LLC was formed, from David M. Tass doing business as Advanced Analytics, have been assigned to Advanced Analytics US LLC and are governed by these Terms.

14.4 Force majeure. We are not liable for any delay or failure caused by events beyond our reasonable control, including outages of hosting, payment or internet services, natural disasters, government action or labor disruption.

14.5 Relationship. Nothing in these Terms creates a partnership, joint venture, agency, fiduciary or employment relationship.

14.6 Headings. Headings are for convenience only. “Including” means “including without limitation.”

14.7 Contact. Advanced Analytics US LLC, Houston, Texas · dtass@advancedanalyticsus.com · advancedanalyticsus.com