Source: https://mochatrade.com/learn/glossary/order-backlog

# Order backlog (remaining performance obligations)
URL: https://mochatrade.com/learn/glossary/order-backlog
Last modified: 2026-10-17

An order backlog is money customers have committed but not yet been billed for, called remaining performance obligations in US filings. It is an order book, not revenue, and for cloud companies it is the cleanest public read on whether AI spending is still being signed; [Oracle's stood at $455 billion a year earlier](https://mochatrade.com/blog/mocha-markets-weekly-28f) while [its cash could not keep up](https://mochatrade.com/blog/mocha-markets-weekly-ccd). [How results are read](https://mochatrade.com/learn/us-market-structure/us-earnings-explained).

## Related terms

- Revenue: https://mochatrade.com/learn/glossary/revenue
- Order book: https://mochatrade.com/learn/glossary/order-book
- Buyback: https://mochatrade.com/learn/glossary/buyback
- Free cash flow: https://mochatrade.com/learn/glossary/free-cash-flow
- Earnings beat and miss: https://mochatrade.com/learn/glossary/earnings-beat-and-miss
- Dividend aristocrats: https://mochatrade.com/learn/glossary/dividend-aristocrats