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Hey Dan,
At this time, yes. But if we find that customers would like to be able to buy multi-year terms in one go, we will support that. Also, there has been quite a bit of interest in a monthly "lease" style plan, and we will definitely be adding support for that to our software registration manager and shopping cart--it's a pretty big change so it will probably be a couple of weeks before it is addressed.
I'll also mention that it isn't just a license for the current version. It covers all upgrades (even major revision number upgrades), so there is never going to be a time where you have to buy a new "upgrade" license.
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