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terms of service

Effective Date: February 23, 2026 · waccamole LLC, a Wyoming limited liability company

Welcome to waccamole.ai (the "Service"), operated by waccamole LLC ("waccamole," "we," "us," or "our"). These Terms of Service ("Terms") govern your access to and use of the waccamole website located at waccamole.ai, all associated applications, tools, data, content, and services (collectively, the "Platform").

By accessing or using the Platform, you agree to be bound by these Terms. If you do not agree to these Terms, you must not access or use the Platform. If you are using the Platform on behalf of an organization, you represent and warrant that you have authority to bind that organization to these Terms.

PLEASE READ THESE TERMS CAREFULLY. THEY CONTAIN IMPORTANT LIMITATIONS ON OUR LIABILITY, DISCLAIMERS OF WARRANTIES, AND AN AGREEMENT TO RESOLVE DISPUTES THROUGH BINDING ARBITRATION.

1. Definitions

"Content" means all data, text, calculations, analyses, reports, charts, tables, documentation, and other materials generated by, displayed on, or made available through the Platform, including both waccamole Content and User Content.

"waccamole Content" means all Content created, generated, or curated by waccamole, including but not limited to: WACC calculations, cost of capital estimates, financial data compilations, industry analyses, blended cost of capital figures, methodological documentation, and any Content identified as produced by waccamole or the "waccamole Research Team."

"User Content" means any Content that a user submits, posts, publishes, or makes available through the Platform, including but not limited to: user-generated WACC analyses, comp set selections, and methodology notes.

"Subscription" means a paid or free account that provides access to specified features and functionality of the Platform, as described in the applicable plan at the time of enrollment.

"Outputs" means any WACC calculations, reports, Excel files, documentation packages, or other deliverables generated through the Platform for download or export by a user.

2. Description of the Service

2.1 What waccamole Provides

waccamole is a financial data and analytics platform that provides tools for estimating the weighted average cost of capital ("WACC") and related cost of capital metrics. The Platform aggregates publicly available financial data, computes cost of capital estimates using defined methodologies, and generates supporting documentation.

2.2 What waccamole Does NOT Provide

THE PLATFORM IS AN INFORMATIONAL AND COMPUTATIONAL TOOL. WACCAMOLE DOES NOT PROVIDE FINANCIAL ADVICE, INVESTMENT ADVICE, VALUATION OPINIONS, TAX ADVICE, LEGAL ADVICE, ACCOUNTING ADVICE, OR ANY OTHER FORM OF PROFESSIONAL ADVISORY SERVICES.

  • waccamole does not render professional valuation opinions within the meaning of USPAP, IVS, SSVS No. 1, or any comparable professional standard.
  • waccamole is not a registered investment adviser, broker-dealer, certified public accountant, or accredited appraiser.
  • No Output generated by the Platform constitutes, or should be construed as, a professional opinion of value, a fairness opinion, a solvency opinion, or a recommendation to buy, sell, or hold any security.
  • Use of the Platform does not create a client-advisor, client-accountant, attorney-client, or fiduciary relationship between waccamole and any user.

3. User Responsibilities and Professional Judgment

3.1 Exercise of Independent Professional Judgment

You acknowledge and agree that:

  • All Outputs are tools to support, not replace, your own independent analysis and professional judgment.
  • You are solely responsible for evaluating the appropriateness, accuracy, and completeness of any Output for your specific use case.
  • You will independently verify all material data, inputs, assumptions, and calculations before relying on any Output in any professional, business, legal, tax, or investment context.
  • Any reliance on Outputs without independent verification is at your own risk.
  • You will comply with all applicable professional standards, regulations, and legal requirements in connection with your use of any Output.

3.2 Prohibited Uses

You agree NOT to:

  • Present any Output as a professional valuation opinion, fairness opinion, or expert report unless you have independently verified all inputs and assumptions and accept full professional responsibility for the conclusions.
  • Redistribute, resell, sublicense, or commercially exploit waccamole Content or Outputs except as expressly permitted by your Subscription plan.
  • Use the Platform to manipulate markets, engage in fraud, or violate any applicable law or regulation.
  • Attempt to reverse-engineer, scrape, or systematically extract data from the Platform beyond normal use.
  • Circumvent any access controls, rate limits, or usage restrictions.
  • Submit User Content that is false, misleading, defamatory, infringing, or unlawful.
  • Impersonate any person or entity, or misrepresent your affiliation with any person or entity.

4. Data Sources, Methodology, and Accuracy

4.1 Data Sources

The Platform uses data derived from publicly available sources, including but not limited to: securities filings with the U.S. Securities and Exchange Commission (SEC) and comparable foreign regulatory bodies, public market data, published interest rates, and other publicly available financial information. waccamole may also incorporate data from third-party data providers, subject to applicable licensing agreements.

4.2 Methodology

waccamole employs defined computational methodologies to estimate cost of capital, which are described on the Platform's methodology page. Methodologies may be updated, modified, or revised at any time. While waccamole endeavors to use methodologies that are consistent with generally accepted financial practices, the selection of methodology, inputs, assumptions, and comparable companies involves judgment, and reasonable professionals may disagree on appropriate choices.

4.3 No Guarantee of Accuracy

WACCAMOLE MAKES NO REPRESENTATION OR WARRANTY, EXPRESS OR IMPLIED, REGARDING THE ACCURACY, COMPLETENESS, TIMELINESS, RELIABILITY, OR SUITABILITY OF ANY DATA, CALCULATION, OUTPUT, OR CONTENT PROVIDED THROUGH THE PLATFORM.

  • Data sourced from third parties may contain errors, omissions, or delays.
  • Financial statement data, including but not limited to total debt and total cash figures, may reflect different accounting treatments, definitional variations, or classification choices among data providers and reporting entities.
  • Beta calculations, equity risk premia, and other cost of capital inputs are estimates derived from historical and forecasted data and are inherently uncertain.
  • Market data is subject to exchange delays, corrections, and revisions.
  • Computational methodologies involve assumptions and simplifications that may not be appropriate for all companies, industries, or purposes.
  • Historical WACC data reflects calculations made using the methodology and data available at the time and is not restated retroactively.

4.4 Your Duty to Verify

You acknowledge that cost of capital estimation inherently involves professional judgment, and that reasonable practitioners using the same underlying data may reach materially different conclusions depending on their choice of methodology, comparable companies, time horizon, and other factors. You agree that waccamole's Outputs represent one computation among many possible valid computations, and that you bear sole responsibility for determining whether any Output is appropriate for your specific purpose.

5. Community Library and User Content

5.1 User Content Submissions

The Platform allows registered users to share WACC configurations to a publicly accessible community library. Shared configurations include your comp set selections, input parameters, and display name. By sharing a configuration to the community library, you represent and warrant that:

  • You own or have all necessary rights to the User Content.
  • Your User Content does not infringe any third party's intellectual property rights, privacy rights, or other legal rights.
  • Your User Content does not violate any applicable law, regulation, or professional standard.
  • Your User Content is not false, misleading, or deceptive in any material respect.

5.2 License to User Content

By submitting User Content to the Platform, you grant waccamole a worldwide, non-exclusive, royalty-free, sublicensable, transferable license to use, reproduce, display, distribute, modify, and create derivative works from your User Content in connection with operating and improving the Platform. This license survives termination of your account. You retain all ownership rights in your User Content, subject to this license.

5.3 No Endorsement of User Content

WACCAMOLE DOES NOT REVIEW, VERIFY, ENDORSE, OR ASSUME ANY RESPONSIBILITY FOR USER CONTENT. User Content represents the views and analyses of individual contributors and does not reflect the views, methodology, or quality standards of waccamole. waccamole expressly disclaims all liability arising from or relating to any User Content.

5.4 Content Moderation

waccamole reserves the right, but has no obligation, to review, edit, or remove any User Content at its sole discretion, for any reason or no reason, including but not limited to User Content that waccamole believes violates these Terms or is otherwise objectionable.

6. Intellectual Property

6.1 waccamole's Intellectual Property

The Platform, including its design, code, algorithms, methodologies, databases, waccamole Content, trademarks, trade names ("waccamole," "waccamole.ai"), logos, taglines, and all other intellectual property, is owned by waccamole LLC or its licensors and is protected by applicable intellectual property laws. Nothing in these Terms transfers any ownership rights to you.

6.2 Limited License to Users

Subject to your compliance with these Terms and your applicable Subscription, waccamole grants you a limited, non-exclusive, non-transferable, revocable license to access and use the Platform and to download and use Outputs for your internal business purposes or personal professional use. This license does not include the right to redistribute, resell, or sublicense Outputs or waccamole Content to third parties, except that:

  • You may include Outputs in work product you prepare for your clients or employer in the ordinary course of your professional activities (e.g., including a WACC analysis in a valuation report or a board presentation), provided that you accept full professional responsibility for such work product.
  • You may not create a competing product or service based on systematic extraction of waccamole Content.

7. Subscriptions, Payment, and Cancellation

7.1 Subscription Plans

Access to certain features of the Platform requires a paid Subscription. The features, pricing, and terms of each Subscription plan are described on the Platform at the time of enrollment and may change from time to time. waccamole will provide reasonable notice of material changes to Subscription pricing or features.

7.2 Billing and Payment

Subscriptions are billed on a recurring basis (monthly or annually, as selected at enrollment). By subscribing, you authorize waccamole to charge your designated payment method on each billing cycle. All fees are quoted in U.S. dollars unless otherwise specified.

7.3 Cancellation and Refunds

You may cancel your Subscription at any time through your account settings. Cancellation takes effect at the end of the current billing period. No prorated refunds will be issued for partial billing periods. waccamole reserves the right to offer refunds at its sole discretion on a case-by-case basis.

7.4 Free Trials

waccamole may offer free trial periods at its discretion. At the end of a free trial, your account will be converted to a paid Subscription unless you cancel before the trial expires. Free trial terms may vary and will be disclosed at enrollment.

8. Disclaimer of Warranties

THE PLATFORM, ALL CONTENT (INCLUDING WACCAMOLE CONTENT AND USER CONTENT), ALL OUTPUTS, AND ALL DATA ARE PROVIDED "AS IS" AND "AS AVAILABLE" WITHOUT WARRANTIES OF ANY KIND, WHETHER EXPRESS, IMPLIED, STATUTORY, OR OTHERWISE. TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, WACCAMOLE DISCLAIMS ALL WARRANTIES, INCLUDING BUT NOT LIMITED TO:

  • IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND NON-INFRINGEMENT;
  • WARRANTIES THAT THE PLATFORM WILL BE UNINTERRUPTED, ERROR-FREE, SECURE, OR FREE OF VIRUSES OR OTHER HARMFUL COMPONENTS;
  • WARRANTIES REGARDING THE ACCURACY, RELIABILITY, TIMELINESS, OR COMPLETENESS OF ANY DATA, CALCULATION, OR OUTPUT;
  • WARRANTIES THAT ANY OUTPUT WILL BE SUITABLE FOR ANY PARTICULAR PROFESSIONAL, BUSINESS, LEGAL, TAX, REGULATORY, OR INVESTMENT PURPOSE;
  • WARRANTIES THAT THE PLATFORM'S METHODOLOGIES ARE CORRECT, OPTIMAL, OR CONSISTENT WITH ANY PARTICULAR PROFESSIONAL STANDARD.

SOME JURISDICTIONS DO NOT ALLOW THE EXCLUSION OF CERTAIN WARRANTIES. IN SUCH JURISDICTIONS, THE ABOVE EXCLUSIONS APPLY TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW.

9. Limitation of Liability

9.1 Exclusion of Consequential Damages

TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, IN NO EVENT SHALL WACCAMOLE, ITS OFFICERS, DIRECTORS, MEMBERS, EMPLOYEES, AGENTS, LICENSORS, OR SERVICE PROVIDERS BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, PUNITIVE, OR EXEMPLARY DAMAGES ARISING OUT OF OR IN CONNECTION WITH YOUR USE OF OR INABILITY TO USE THE PLATFORM, INCLUDING BUT NOT LIMITED TO:

  • Damages arising from reliance on any data, calculation, or Output;
  • Damages arising from errors, inaccuracies, or omissions in data or calculations;
  • Loss of profits, revenue, business opportunities, goodwill, or anticipated savings;
  • Damages arising from transactions, valuations, investments, or other decisions made in reliance on the Platform;
  • Damages arising from User Content or the conduct of any other user;
  • Damages arising from unauthorized access to your account or data;

REGARDLESS OF THE THEORY OF LIABILITY (CONTRACT, TORT, STRICT LIABILITY, OR OTHERWISE) AND EVEN IF WACCAMOLE HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.

9.2 Cap on Aggregate Liability

TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, WACCAMOLE'S TOTAL AGGREGATE LIABILITY ARISING OUT OF OR IN CONNECTION WITH THESE TERMS OR YOUR USE OF THE PLATFORM SHALL NOT EXCEED THE GREATER OF: (A) THE TOTAL FEES PAID BY YOU TO WACCAMOLE DURING THE TWELVE (12) MONTHS IMMEDIATELY PRECEDING THE EVENT GIVING RISE TO THE CLAIM, OR (B) ONE HUNDRED U.S. DOLLARS ($100).

9.3 Essential Basis of the Bargain

YOU ACKNOWLEDGE THAT THE LIMITATIONS OF LIABILITY SET FORTH IN THIS SECTION REFLECT A REASONABLE AND FAIR ALLOCATION OF RISK BETWEEN YOU AND WACCAMOLE, AND THAT THESE LIMITATIONS ARE AN ESSENTIAL BASIS OF THE BARGAIN BETWEEN THE PARTIES.

10. Indemnification

You agree to indemnify, defend, and hold harmless waccamole and its officers, directors, members, employees, agents, licensors, and service providers from and against all claims, liabilities, damages, losses, costs, and expenses (including reasonable attorneys' fees) arising out of or relating to:

  • Your use of the Platform or any Output;
  • Your User Content;
  • Your violation of these Terms;
  • Your violation of any applicable law, regulation, or professional standard;
  • Any claim by a third party that your use of Outputs or User Content caused them damage, including but not limited to claims arising from valuations, transactions, or investment decisions informed by Outputs;
  • Your presentation of any Output in a professional context, including but not limited to valuation reports, expert testimony, audit documentation, board presentations, or transaction analyses.

11. Dispute Resolution

11.1 Binding Arbitration

Any dispute, claim, or controversy arising out of or relating to these Terms or the Platform shall be resolved exclusively through binding arbitration administered by the American Arbitration Association ("AAA") under its Commercial Arbitration Rules. The arbitration shall be conducted by a single arbitrator in Cheyenne, Wyoming. The arbitrator's decision shall be final and binding, and judgment on the award may be entered in any court of competent jurisdiction.

11.2 Class Action Waiver

YOU AND WACCAMOLE EACH AGREE THAT ANY DISPUTE RESOLUTION PROCEEDINGS WILL BE CONDUCTED ONLY ON AN INDIVIDUAL BASIS AND NOT IN A CLASS, CONSOLIDATED, OR REPRESENTATIVE ACTION. YOU WAIVE ANY RIGHT TO PARTICIPATE IN A CLASS ACTION LAWSUIT OR CLASS-WIDE ARBITRATION.

11.3 Exceptions

Notwithstanding the foregoing, either party may seek injunctive or other equitable relief in any court of competent jurisdiction to prevent the actual or threatened infringement, misappropriation, or violation of intellectual property rights.

11.4 Governing Law

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

12. Account Security and Access

You are responsible for maintaining the confidentiality of your account credentials and for all activities that occur under your account. Authentication is handled by our third-party authentication provider (Clerk). waccamole does not store or have access to your passwords. You agree to immediately notify waccamole of any unauthorized use of your account. waccamole is not liable for any loss or damage arising from your failure to maintain the security of your account credentials.

Sharing of account credentials is prohibited unless your Subscription plan expressly permits multiple users. waccamole may suspend or terminate accounts that appear to be sharing credentials in violation of applicable Subscription terms.

13. Termination

13.1 Termination by You

You may terminate your account at any time by canceling your Subscription and ceasing use of the Platform.

13.2 Termination by waccamole

waccamole may suspend or terminate your access to the Platform at any time, with or without cause, and with or without notice. Grounds for termination include but are not limited to: violation of these Terms, non-payment, fraudulent or illegal activity, or conduct that waccamole determines is harmful to other users or to the Platform.

13.3 Effect of Termination

Upon termination: (a) your license to use the Platform immediately ceases; (b) you must cease all use of the Platform and any Outputs obtained after your last paid billing period; (c) waccamole may delete your account data, saved comp sets, and other stored information; (d) Sections 4, 5.2, 5.3, 6, 8, 9, 10, 11, and 14 shall survive termination.

14. General Provisions

14.1 Modifications to Terms

waccamole may modify these Terms at any time by posting updated Terms on the Platform and updating the "Last Updated" date. Material changes will be communicated via email to registered users or through a prominent notice on the Platform. Your continued use of the Platform after any modification constitutes acceptance of the modified Terms.

14.2 Modifications to the Platform

waccamole reserves the right to modify, suspend, or discontinue the Platform or any feature at any time, with or without notice. waccamole shall not be liable for any modification, suspension, or discontinuation of the Platform.

14.3 Entire Agreement

These Terms, together with the Privacy Policy and any applicable Subscription terms, constitute the entire agreement between you and waccamole regarding the Platform and supersede all prior agreements and understandings.

14.4 Severability

If any provision of these Terms is held to be invalid, illegal, or unenforceable, the remaining provisions shall continue in full force and effect.

14.5 No Waiver

waccamole's failure to enforce any provision of these Terms shall not be construed as a waiver of that provision or of the right to enforce it in the future.

14.6 Assignment

You may not assign or transfer your rights or obligations under these Terms without waccamole's prior written consent. waccamole may assign these Terms in connection with a merger, acquisition, reorganization, or sale of assets without your consent.

14.7 Force Majeure

waccamole shall not be liable for any failure or delay in performing its obligations under these Terms due to causes beyond its reasonable control, including but not limited to: acts of God, natural disasters, pandemics, war, terrorism, government actions, power failures, internet disruptions, or failures of third-party data providers.

14.8 Notices

waccamole may provide notices to you via email to the address associated with your account or by posting a notice on the Platform. You may provide notices to waccamole by email to support@waccamole.ai or by mail to the address listed on the Platform.

15. Specific Risk Acknowledgments for Financial Data Users

Given the nature of the Platform and its intended use by financial professionals, you specifically acknowledge and agree to the following:

  • Cost of capital estimation is inherently judgmental. Different methodologies (CAPM, Build-up Method, Fama-French, etc.), different comparable company selections, different time horizons for beta estimation, and different equity risk premium estimates can produce materially different WACC results. No single WACC figure is objectively "correct."
  • Data definitions vary across providers. Financial data items such as "total debt," "total cash," and "enterprise value" may be defined and calculated differently by different data providers.
  • Historical data reflects point-in-time calculations. WACC figures in the historical database were calculated using the data and methodology available at each historical date. They are not restated retroactively.
  • Market data is subject to limitations. Stock prices, interest rates, and other market data used in calculations are subject to exchange delays, errors, adjustments, and corporate actions.
  • The Platform is not a substitute for professional services. If you require a defensible valuation opinion for litigation, regulatory, tax, or transaction purposes, you should engage a qualified professional.
  • Auditors may or may not accept Platform Outputs. waccamole makes no representation that any particular auditor, regulator, court, or other reviewing body will accept Outputs as sufficient documentation for their purposes.