I have said many times that this is my favorite chart in a S-1. It essentially gives you clues about where the best places are to go hunting as a detective. sec.gov/Archives/edgar… It is only a starting point, but it is a very good one. Do you know what business this is? 
What's the gross margin?
Are R&D, G&A and sales & marketing in line with comparable businesses?
What are the trends for these metrics?
What do these numbers reveal about underlying unit economics?
Investing isn't easy. You need to be a detective to find the data you need.
Are R&D, G&A and sales & marketing in line with comparable businesses?
What are the trends for these metrics?
What do these numbers reveal about underlying unit economics?
Investing isn't easy. You need to be a detective to find the data you need.
25IQuiz:
Is R&D, G&A and sales & marketing all being 27% in line with comparable businesses?
Are they on the high or the low side?
How are they likely to change as the business scales?
Clue: The Rule of 40 (R40) has nothing to do with 40 fluid ounces of malt liquor!
Is R&D, G&A and sales & marketing all being 27% in line with comparable businesses?
Are they on the high or the low side?
How are they likely to change as the business scales?
Clue: The Rule of 40 (R40) has nothing to do with 40 fluid ounces of malt liquor!
25iQ: This article talks about bill.com's business being unprofitable: techcrunch.com/2019/12/12/bil…
"The offering makes it plain that not all loss-making companies are equal."
Is profit or free cash flow more important in this case?
"The offering makes it plain that not all loss-making companies are equal."
Is profit or free cash flow more important in this case?
