I hold some WHK - but nowhere near as many as I used to. And...

I hold some WHK - but nowhere near as many as I used to.

And that is partly because of the way they choose to release information.

So the announcement back on 23 December 2021 (see below) trumpets "WhiteHawk Projected Revenue Grows by 180% in 2021".

23 December 2021

WhiteHawk Projected Revenue Grows by 180% in 2021

Highlights

• Since 2016 WhiteHawk has consistently doubled revenue year over year
• In 2021 WHK will invoice US$3.4M over US$1.9M revenue recognized in 2020 being a projected 180% increase year on year

• During COVID Contracts have been renewed 80% of the time
• Pipeline has been consistently expanded both on the US Commercial sector and US Federal Government sector over the past 3 years
• SaaS Product line features advanced: Cyber Risk Radar, Cyber Risk Program, Cyber Risk Scorecard & Cyber Risk Platform as a Service (PaaS)
• Multi-year contracts enable consistent revenue baseline and growth

And then todays preliminary report states that WHK actually achieved revenue of $2,302,517 in calendar year 2021 (up 21.9% on the previous year) - and that they:

Invoiced in 2021, US$3.4M over US$1.9M revenue recognized in 2020 being a 180% increase year on year.

Revenue reported below does not include US$1M unearned revenue already invoiced in 2021.



So they include invoiced totals for the "2021 figure announcements" - and compare them to the "revenue totals" from the year before????

I guess announcing 180% revenue growth sounds much better than the actual 21.9% revenue growth - but I find that quite misleading.

I still believe this company has a future, but I would prefer that management focus on signing more big contracts - rather than "spin" their numbers to make them look much better than what they are