Company – Venture Capital backed international company with $60M revenues, EBITDA positive, 600+ employees, four business units operating in 5 countries. Company had a SaaS like recurring revenue business model providing a software technology platform to drive business services.
Situation – Investors were seeking to exit company by engaging investment banker to enter into a process to market and sell the company. Their CFO was not qualified to drive a process and had lost focus on driving operational results of company resulting in significant miss on budget to actuals.
Engagement – Referred in by investor group as interim contract CFO to prepare company for sale, drive financial aspects of sales process, create credible budget and forecast, and enhance sales operations reporting. Plan to exit company following sale.
Results – Revised budget and forecast process resulting in credible plan and 100%+ achievement. Developed sales pipeline to financial model using SaaS based subscription methodology to accurately forecast revenues from bookings. Identified errors and corrected transfer pricing methodology resulting in $2 million tax savings. Drove all financial aspects of sales transaction to publicly traded PE firm. Exited company as planned following post transaction transition period.
Company – Publicly Traded biopharma company with a $750M market cap, $200M in OpEx and 300+ employees. Company had several ongoing clinical trials and partnership arrangements with large pharma.
Situation – Management needed a bottoms up detailed budget and forecasting model that cut across 200 clinical trials, 28 departments and 6 divisions in preparation for commercial scaling of the company.
Engagement – Referred in by board member/Chairman to work with management to develop a formal FP&A process and deliver a FY budget for Board approval.
Results – Developed a full scale dynamic business forecasting model and detail budget by working with department VPs and key managers. Results were presented and approved by board of directors and executive management.
Company – Private Equity backed international medical device company with $25M in revenues and operations in the US and Europe. Company was in the zone of insolvency in need of additional financing to continue operations.
Situation – Company had filed confidential filing with SEC in preparation for going public when investor group and investment bankers determined they needed CFO with prior IPO experience. Company was unable to prepare timely accurate financials for updated confidential filings or provide other required information necessary for an IPO.
Engagement – Referred in by PEG and board member as contract CFO to put IPO back on track and work with investment bankers and sell-side analysis to create credible post IPO forecast. Discovered major accounting error in manufacturing and cost accounting methodology. Restated financials and converted confidential filing to public filing. Presented to over 95 buy-side investors during TTW presentations and IPO roadshow.
Results – Following road show, public markets for medical device company retreated and Company was not able to price and close IPO. Senior creditors took over company along with CRO firm. I exited company, as is typical under such scenario.
Company – Venture Capital backed international biotech firm with operations in US and Singapore
Situation – Company was pursuing Series A financing from venture capital firms in the bay area and needed a senior finance executive to add to the team. CEO reached out directly to ask me to join the team.
Engagement – Initial situation was a fractional CFO role to assist with $30M VC financing, build internal finance team and reporting infrastructure and provide financial modeling, budgeting and board reporting. Eventually engaged as full-time contract CFO to work with investment bankers to prepare company for sale to strategic partner.
Results – Developed and presented financial models and NPV market models, prepared and delivered investor and board presentations, developed and lead financial function, coordinated all audit, tax and international filing requirements. Provided all financial due diligence info in support of $240M sale to international big pharma company.
Company – Private Equity backed software company with revenues of $35M and 180+ employees providing B2B and B2C golf reservations platform
Situation – The Company was under court order to sell and reimburse minority owners after years of litigation. The Company had exhausted all legal avenues and was ordered to appear in front of judge to detail plans to meet court order.
Engagement – Referred in by PEG to develop alternative financing strategies and appear as expert witness for company in District Court in Chicago to convince judge to allow more time for company to pursue alternative avenues.
Results – Worked with CEO, senior management and investor group representing majority owners to develop and implement a comprehensive financing strategy to assess various financing alternatives regarding debt and equity investments to take out minority investors. Developed financial model and delivered several investor pitches with VCs, Private equity groups, investment bankers and funding sources. Successfully persuaded Judge to allow Company necessary time to develop alternative plan to satisfy judgement.