RE:Earnings Report 📑🧐My take is there will be a $25Mill correction for 2021 and 2022. Its all backed in, there are zero supprises. Except for the people that do not read.
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Further to this review, the company has determined that it will make certain adjustments to the revenue figures reported in its previously issued (i) audited annual consolidated financial statements for the fiscal year ended Dec. 31, 2021, and (ii) unaudited interim consolidated financial statements for the first, second and third quarters of the fiscal year ended Dec. 31, 2022, as well as other related flow-through adjustments. The company is finalizing the exact adjustments for these reported prior periods, and currently anticipates that the adjustments will result in a reduction of aggregate revenue for the full 2021 fiscal year of approximately 1.25 per cent, and a reduction of expected aggregate revenue for the full 2022 fiscal year of approximately 0.75 per cent.
As a result, subject to finalizing the adjustments described herein, the company expects its revenue for the fourth quarter of 2022 to be approximately $352-million (U.S.), and its aggregate revenue for the full 2022 fiscal year to be approximately $1,337-million (U.S.)."