I'm looking at IRI as well. Do you know the reason for the massive receivables balance on the BS? It has started to comes down but it's highly unusual for a tech company.
The company does book a lot of revenue in the 2nd and 4th quarter, that is why they are always late with earnings guidance. So some revenue is booked and not paid at the balance date. They also provide payment plans for customers on longer term plans, and their average client is on a 3 year renewal cycle. Although, those two doesn't explain why it has spiked since Covid. Reading through the notes of the full year accounts, less than $1m was overdue so they seem to be managing it.
I'm looking at IRI as well. Do you know the reason for the massive receivables balance on the BS? It has started to comes down but it's highly unusual for a tech company.
The company does book a lot of revenue in the 2nd and 4th quarter, that is why they are always late with earnings guidance. So some revenue is booked and not paid at the balance date. They also provide payment plans for customers on longer term plans, and their average client is on a 3 year renewal cycle. Although, those two doesn't explain why it has spiked since Covid. Reading through the notes of the full year accounts, less than $1m was overdue so they seem to be managing it.