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The latest from our research team on markets, risk, and technology.

All-Time Best Interviews with Accused Fraudsters
10-K Analysis & Red Flags

All-Time Best Interviews with Accused Fraudsters

One of my pastimes is listening to interviews with accused corporate fraudsters before and after they got caught. (Yes, I should probably get a life.) The funny thing about white collar fraudsters is that most of them don’t go around advertising their criminal tendencies. This makes it hard to tell who to suspect and who to trust. Listening to these interviews makes you realize how unique these individuals all are. The interviews all have their own flavors, making it hard to find patterns.

Kris Bennatti, CEO of Hudson Labs··10 min read
Annual Report (10-K) Red Flag Guide: Part II
10-K Analysis & Red Flags

Annual Report (10-K) Red Flag Guide: Part II

Learn how to understand and analyze a 10-K annual report. We discuss revenue risks, credit, M&A accounting, non-GAAP metrics and more.

Andre Castillo, Head of Forensic Research at Hudson Labs··3 min read
Filing after hours: When it matters
10-K Analysis & Red Flags

Filing after hours: When it matters

Most 10-Ks and 10-Qs are filed between 4 PM and 5:30 PM, after markets close but while EDGAR is still accepting filings.

Andre Castillo, Head of Forensic Research at Hudson Labs··3 min read
A Practical Guide to Finding “Dead Companies Walking”
10-K Analysis & Red Flags

A Practical Guide to Finding “Dead Companies Walking”

A key messages was that if you get too fixated on numbers, you can easily miss out on other critical information. Most of which is qualitative.

Andre Castillo, Head of Forensic Research at Hudson Labs··3 min read
C3.ai had THREE CFOs in less than a year
10-K Analysis & Red Flags

C3.ai had THREE CFOs in less than a year

C3.ai Inc (AI) dealt with extremely high management turnover: three CFOs since December 2021. Plus other top red flags,

Andre Castillo, Head of Forensic Research at Hudson Labs··3 min read
Revenue-related misstatements at Sprinklr
10-K Analysis & Red Flags

Revenue-related misstatements at Sprinklr

Sprinklr Inc (CXM) reported misstatements and internal control issues related to revenue recognition accounting, plus more red flags.

Andre Castillo, Head of Forensic Research at Hudson Labs··3 min read
Hudson Labs' high vs. low risk companies see 20+ point differential in returns
10-K Analysis & Red Flags

Hudson Labs' high vs. low risk companies see 20+ point differential in returns

Bedrock’s highest risk equities had average returns of -22% while the lowest risk companies had returns of -1%. Man, our models are smart.

Kris Bennatti, CEO of Hudson Labs··3 min read
DOJ executed a search and seizure warrant against NOTV
10-K Analysis & Red Flags

DOJ executed a search and seizure warrant against NOTV

INOTIV announced that the US Department of Justice (DOJ) executed a search and seizure warrant alleging violations of the Animal Welfare Act

Andre Castillo, Head of Forensic Research at Hudson Labs··3 min read
VLTA’s CFO had inappropriate access to the company’s accounting system
10-K Analysis & Red Flags

VLTA’s CFO had inappropriate access to the company’s accounting system

Volta reported internal control issues, also reported going concern issues, and securities class action lawsuits. And other top red flags.

Andre Castillo, Head of Forensic Research at Hudson Labs··3 min read