RE: Revenue recognition1 Jul 2024 17:38
Bermondsey , you work in the industry, I don't.
My simple understanding is that revenue attached to contracts that span different years has to be accounted for in a particular way .
We know we received 10mm from Cenevos for Searose in 2023 and 25mm FSS monies also in 2023. If neither were included then the reported revenues could have been 65mm.
Therefore for sentiment reasons alone, I am happy that AR fought long and hard to get revenue of 86.91 recognised at this stage . To me that is more palatable than 65mm and an explanation.