Callouts & quotes from 2,092+ activist slides

"Eurofins’ capex as a percentage of revenue is an outlier among its publicly traded peers."

"We find this troubling as high volume implanters drive 90% of the SCS industry's revenue."

"The Company needs to achieve higher revenue growth based on its R&D and M&A investments."

"Current Consensus Revenue Estimates Assume "More Than" Perfection: 30%-50% Downside Risk"

"The Company needs to achieve higher revenue growth based on its R&D and M&A investments."

"This invariably suggests that RS-25 revenues are set to decline from 2019 going forward."

"Despite significant investment, we believe Patch has minimal revenue and massive losses."

"The Company spent nearly $70 billion on M&A at an implied ~3.3x “peak” revenue multiple"

"Claim that VRX “stuffed the channel” and falsely recognized revenue is verifiably false"

"A single drug represents 63% of Celgene revenue and is facing an impending patent cliff"

"Agencies primary complaint in regards to Momo is that their share of revenue is too low"

"We suspect that in 2016, its revenues might have been temporarily moved over to Shujia."

"FTAI’s per employee revenue and EBITDA is ~3x and ~7x higher, respectively, than peers."

"Performance compensation increased 10% in FY2020 despite organic revenue growth of 1.3%"

"The Company spent nearly $70 billion on M&A at an implied ~3.3x “peak” revenue multiple"

"Streaming to drive continued acceleration in total revenue for each of the big 3 labels"

"Claim that VRX “stuffed the channel” and falsely recognized revenue is verifiably false"

"NQ has always been a bit player in mobile security with a tiny amount of real revenue."

"Fasteners on new airframes are more expensive. Gaining revenue in fasteners is a given"

"Revenue from period through June 3, 2022 but well off prior quarterly run rate results"

"From Q4 FY24 through Q2 FY25, ELF Could Have Overstated Revenue by ~$138 mm to $188 mm"

"DV should further disclose what percentage of revenue is at risk from client disputes."

"By 2021, streaming will account for ~60-65% of recorded music revenue for all 3 labels"

"According to Mike Delprete, Flex now comprises more than 25% of Premier Agent revenue."

"Despite constant promises of revenue growth reacceleration, Box has failed to deliver"

"Despite constant promises of revenue growth reacceleration, Box has failed to deliver"

"Hess's cumulative realized hedging losses since 2002 equivalent to 9% of E&P Revenues"

"Since FY2013, revenue has increased by 37%, but operating income has declined by 37%."

"Limbach has failed to quantify revenue or cost synergies for any of its acquisitions."

"More importantly, relative to 2007 (prior peak), revenue is down and expenses are up"

"RINO has Fabricated FGD Customer Relationships and Significantly Overstated Revenue."

"Almost no change in Q4 revenue and small inventory decline despite facility approval"

"Under realistic assumptions, the Company will miss its revenue and EBITDA forecasts."

"Despite having ~4.5x the peer average revenue, Darden is among the least efficient."

"Despite having ~4.5x the peer average revenue, Darden is among the least efficient."

"Illustrating the Value of Improving Utilization and Cost Cuts at GRP (2016 Revenue)"

"Higher revenue and margin, despite significantly lower industry aircraft production"

"Higher revenue and margin, despite significantly lower industry aircraft production"

"Each dollar of revenue at Lasertec similarly produces far less cash than its peers."

"In fact, Motortech has only exceeded its revenue expectations in 1 out of 6 years."

"We therefore adjust reported 2021 and 2022 revenues downward by -95.3% and -68.5%."

"ACMR Should Be Able to Easily Meet Consensus Revenue Even If China WFE is Flat YoY"

"Substantial majority of ES's revenue base has structurally high potential margins"

"These related party entities comprised a shocking 72% of Foundry revenue in 2020."

"PBH has poor revenue disclosure practices and fails to disclose pricing or volume"

"With Zero Revenues in 2017, ADOMANI’s Sales Projections Continue To Be A Daydream"

"We find that revenue per active customer and per send volume has been declining."

"Stopped explaining DSO change and contract asset revenue errors/revision appears"

"Revenue and unit growth have not provided the operating leverage Darden promised"

"Revenue and unit growth have not provided the operating leverage Darden promised"

"$70 million, or 11%, higher than March 2011 Quarter revenue, despite seasonality"

"Each of Arconic’s businesses missed their 3-year targets for revenue and profits"

"To estimate 2015 revenues per program, we used the following data and estimates:"

"Contractual revenues represented 49% of LTM 6/30/12 revenue, up from 29% in 2006"

"Nearly every reporting segment was expected to grow revenue at a multiple of GDP"

"Why has SG&A increased by $41 million when revenue has decreased by $62 million?"

"Why has SG&A increased by $41 million when revenue has decreased by $62 million?"

"Most concerning, Rubicon has never put video revenue figures in its SEC filings."

"Dated commercial strategy has created a unit revenue headwind for over a decade"

"Dated commercial strategy has created a unit revenue headwind for over a decade"