Good information for the board Red I worked for
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Posted On: 12/12/2018 10:54:43 AM
Good information for the board Red
I worked for HBOC that was merging with McKEsson ~15 years ago and HBOC was counting revenue just from signed contracts (which at the time was a common yet illegal practice for SaaS companies). I think they went further than just counting revenue though. When investors got wind of that (shame on McKesson for not doing proper due diligence) the stock tanked. Something like 50% in one day and another 25% the next. It slowly drifted down from there. Interesting thing is, it was a small percentage of revenue for the overall company but spooked investors into the culture of the company.
You have to finish the work you where hired to do before putting the revenue on the books.
I worked for HBOC that was merging with McKEsson ~15 years ago and HBOC was counting revenue just from signed contracts (which at the time was a common yet illegal practice for SaaS companies). I think they went further than just counting revenue though. When investors got wind of that (shame on McKesson for not doing proper due diligence) the stock tanked. Something like 50% in one day and another 25% the next. It slowly drifted down from there. Interesting thing is, it was a small percentage of revenue for the overall company but spooked investors into the culture of the company.
You have to finish the work you where hired to do before putting the revenue on the books.
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