The TCV metric is misleading when comparing to previous...

The TCV metric is misleading when comparing to previous quarters.

They finally defined what it really is.
"The Total Contract Value is a metric that combines all contracts executed with clients that the Company expects to deliver during the current fiscal year."
So my interpretation here is it's like an expected financial year to date revenue figure.

Therefore I believe it's misleading to the extreme to compare TCV between quarters.
"Vection Technologies increases the Total Contract Value (TCV) metric by ~30% to ~$14 million".
Anyone new following this company could easily think it's awesome that some metric increased by 30% quarter on quarter, thinking it's connected with quarterly revenue.

Think about the math for a second though.
Lets assume revenue is the same for each quarter for my scenario.
Then quarter 2 compared to quarter 1 would show a TCV increase of 100% (remember TCV is a cumulative metric).
Quarter 3 compared to quarter 2 TCV would show an increase of 50%
Quarter 4 compared to quarter 3 TCV would show an increase of 33%.

Therefore our 30% increase in TCV should actually be compared with 50% just to have flat revenue QoQ.
So, quarter on quarter revenue probably dropped.
I understand that revenue for this business will be choppy so it's OK to have some drops in a quarter as long as the next quarter picks up the slack. June will be super interesting as they are positioning themselves to be delivering some great things.

I still think this company is in a great space with so much potential but they need to make honest clear reporting a top priority.
What does it say about management here? Is it truly poor judgement, or is it intentional misleading? I don't know, you be the judge.

What I do know though is that Management must stop comparing TCV between quarters!!!
And if they want to keep reporting TCV then state the definition every time it's used.