Billings is not collections.
Revenue - $100
Costs - $50
Profit - $50
Collections - 60% $60
Can't pay bills, go broke.
Cash is king for a reason. Billings are irrelevant if you can't collect your cash, and they don't.
What is their accounts receivables days outstanding? Increasing every quarter? Less and less % of billings being collected? When you extrapolate, you can calculate the date they go insolvent.
Billings is not collections.Revenue - $100Costs - $50Profit -...
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