The FACTS 9.4 Demo auth keys are set to expire on 4/1/2026. Normally, the expiration date could be extended and all would be fine and dandy, but for some reason, auth codes that have an expiration date after April of 2026 do not seem to work for the 9.4 Demo, which uses PxPlus v19.10. An auth code for PxPlus v22.10 does work, however, so the best solution right now, if you need the FACTS94_demo, is to upgrade the PxPlus version on the demo to v22.10 and use the attached auth code sheet.
FACTS 9.5 is coming out in the next few weeks, and following the release, a 9.5 Demo will be available shortly after.
I apologize for any inconvenience.
-Chris