Generally Accepted Accounting Principles

Cresco Labs Announces First Quarter 2021 Financial Results Under U.S. GAAP

Retrieved on: 
Thursday, May 27, 2021

Cresco Labs Inc. (CSE: CL) (OTCQX: CRLBF) (FSE: 6CQ) (Cresco Labs or the Company), a vertically integrated multistate operator and the number one U.S. wholesaler of branded cannabis products, today announced its financial results for the first quarter ended March 31, 2021.

Key Points: 
  • Cresco Labs Inc. (CSE: CL) (OTCQX: CRLBF) (FSE: 6CQ) (Cresco Labs or the Company), a vertically integrated multistate operator and the number one U.S. wholesaler of branded cannabis products, today announced its financial results for the first quarter ended March 31, 2021.
  • This represents another step to prepare Cresco Labs for the future opportunities that await in the U.S. capital markets.
  • The financial information reported in this press release is based on unaudited management prepared financial statements for the three months ended March 31, 2021.
  • Beginning with the quarter ended March 31, 2021, the Company has prepared its financial statements, including all comparative figures, in compliance with U.S. GAAP instead of IFRS.

Vinco Ventures, Inc. Reports Financial Results for the Three Months Ended March 31, 2021

Retrieved on: 
Tuesday, May 25, 2021

Vinco Ventures, Inc. (BBIG) is a selective acquisitions company focused on digital media and content technologies.

Key Points: 
  • Vinco Ventures, Inc. (BBIG) is a selective acquisitions company focused on digital media and content technologies.
  • is to seek out acquisition opportunities that are poised for scale and will BE BIG.
  • EBITDA and Adjusted EBITDA is a financial measure that is not calculated in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP).
  • Additional information that could lead to material changes in the Companys performance is contained in its filings with the SEC.

Dycom Industries, Inc. Announces Fiscal 2022 First Quarter Results

Retrieved on: 
Tuesday, May 25, 2021

The Company reports its financial results in accordance with U.S. generally accepted accounting principles (GAAP).

Key Points: 
  • The Company reports its financial results in accordance with U.S. generally accepted accounting principles (GAAP).
  • The Company cautions that Non-GAAP financial measures should be considered in addition to, but not as a substitute for, the Company's reported GAAP results.
  • Excluding these amounts from the Company's Non-GAAP financial measures provides management with a more consistent measure for assessing financial results.
  • The Company excludes this impact because the Company believes it is not indicative of the Company's underlying results or ongoing operations.

1 in 5 Private Company Execs Feel Unprepared on Lease Accounting as Effective Date Nears on Dec. 15, 2021

Retrieved on: 
Monday, May 24, 2021

The good news: 27.7% of those polled feel prepared to comply -- the highest private entity executive confidence rate in six years.

Key Points: 
  • The good news: 27.7% of those polled feel prepared to comply -- the highest private entity executive confidence rate in six years.
  • "FASB lease accounting standard adoption is mandatory, so I'm hopeful organizations are closely focusing on it now."
  • As organizations adopt FASB's cloud computing accounting guidance, the way they've adopted the lease accounting standard could offer opportunities to structuring cloud agreements for specific accounting treatment.
  • Once lease data is ready for lease accounting use, check to see if it's aligned with your organization's accounting policies.

TOMI Environmental Solutions, Inc. Reports First Quarter 2021 Financial Results

Retrieved on: 
Monday, May 17, 2021

For example, our in-person demos with potential customers remained suspended in the quarter and many custom engineered systems (CES) were postponed.

Key Points: 
  • For example, our in-person demos with potential customers remained suspended in the quarter and many custom engineered systems (CES) were postponed.
  • In the first quarter of 2021, TOMI increased brand awareness through promotions and marketing in this division.
  • TOMI anticipates the pilot will be completed by the second quarter of 2021.\nTOMI is working with University of Virginia on two separate studies.
  • Investors are encouraged to review the related U.S. GAAP financial measures and the reconciliation of these non-GAAP financial measures to their most directly comparable U.S. GAAP financial measures.\n'

Atlanticus Reports First Quarter 2021 Financial Results

Retrieved on: 
Monday, May 17, 2021

Outstanding notes payable, net, associated with our point-of-sale and direct-to-consumer operations\xc2\xa0increased from $682.1 million as of March 31, 2020 to $781.0 million as of March 31, 2021.

Key Points: 
  • Outstanding notes payable, net, associated with our point-of-sale and direct-to-consumer operations\xc2\xa0increased from $682.1 million as of March 31, 2020 to $781.0 million as of March 31, 2021.
  • These non-GAAP financial measures have limitations as analytical tools and should not be considered in isolation from, or as a substitute for, GAAP financial measures.
  • These non-GAAP financial measures may differ from the non-GAAP financial measures used by other companies.
  • The calculation of each of these non-GAAP financial measures is provided below for each of the fiscal periods indicated.\n"

Oblong Announces Financial Results for First Quarter 2021

Retrieved on: 
Thursday, May 13, 2021

AEBITDA loss is not intended to replace operating loss, net loss, cash flow or other measures of financial performance reported in accordance with generally accepted accounting principles (GAAP).

Key Points: 
  • AEBITDA loss is not intended to replace operating loss, net loss, cash flow or other measures of financial performance reported in accordance with generally accepted accounting principles (GAAP).
  • Oblong supplies Mezzanine systems to Fortune 500 enterprise customers and is a Cisco Solutions Plus integration partner.
  • Any of these factors could cause Oblong\xe2\x80\x99s actual results and plans to differ materially from those in the forward-looking statements.
  • Therefore, the Company can give no assurance that its future results will be as estimated.

Sientra Reports Record First Quarter 2021 Financial Results

Retrieved on: 
Tuesday, May 11, 2021

This compares to previous guidance of $70 million to $74 million.\nSientra will hold a conference call today, May 11, 2021 at 4:30 pm ET to discuss first quarter results.

Key Points: 
  • This compares to previous guidance of $70 million to $74 million.\nSientra will hold a conference call today, May 11, 2021 at 4:30 pm ET to discuss first quarter results.
  • This non-GAAP financial measure should not be considered in isolation or as a substitute for GAAP financial measures.
  • Sientra has developed a broad portfolio of products with technologically differentiated characteristics, supported by independent laboratory testing and strong clinical trial outcomes.
  • Actual results may differ from those set forth in this press release due to the risks and uncertainties inherent in the Company\xe2\x80\x99s business.\n"

Atlantic American Corporation Reports First Quarter Results for 2021

Retrieved on: 
Tuesday, May 11, 2021

Operating results for the quarter improved over prior year along with moderate growth in our premium revenue.

Key Points: 
  • Operating results for the quarter improved over prior year along with moderate growth in our premium revenue.
  • Its principal insurance subsidiaries are American Southern Insurance Company, American Safety Insurance Company, Bankers Fidelity Life Insurance Company and Bankers Fidelity Assurance Company.\nNote regarding non-GAAP financial measure: Atlantic American Corporation presents its consolidated financial statements in accordance with U.S. generally accepted accounting principles (GAAP).
  • The financial data attached includes a reconciliation of operating income (loss) to net income (loss), the most comparable GAAP financial measure.
  • Actual results could differ materially from those indicated by such forward-looking statements due to a number of factors and risks detailed from time to time in statements and reports that Atlantic American Corporation files with the Securities and Exchange Commission.\n'

Visual Lease Hosts Lease Accounting Compliance Workshops Led by Industry Experts

Retrieved on: 
Monday, May 10, 2021

b'Visual Lease , the #1 lease optimization software, now offers complimentary workshops to help organizations achieve and maintain compliance with the new lease accounting Standards ASC 842 and GASB 87.

Key Points: 
  • b'Visual Lease , the #1 lease optimization software, now offers complimentary workshops to help organizations achieve and maintain compliance with the new lease accounting Standards ASC 842 and GASB 87.
  • Collectively, both experts have decades of experience helping companies manage their leases and achieve and maintain lease accounting compliance.\n\xe2\x80\x9cThrough our community of more than 700 customers, we\xe2\x80\x99ve seen firsthand how important preparation is when it comes to lease accounting compliance,\xe2\x80\x9d said Joe Fitzgerald, SVP of Lease Market Strategy at Visual Lease.
  • Developed by industry-leading lease professionals and CPAs, it combines GAAP, IFRS and GASB-compliant lease accounting controls with easy, flexible and automated lease management processes.
  • Committed to ongoing innovation and unparalleled customer service, Visual Lease helps organizations transform their lease compliance requirements into financial opportunities.