The We Company’s S-1 lacks information about its financials according to Rett Wallace, CEO of Triton Research. Wallace said “the prospectus is a masterpiece of obfuscation” adding that if the figures were encouraging there would be no need to be so opaque. Triton uses what it calls an obfuscation index to evaluate companies that are preparing to list, which it claims has a very good record. “Investors should not expect any meaningful disclosure from this prospectus,” he said.
The We Company’s S-1 lacks information about its financials according to Rett Wallace, CEO of Triton Research. Wallace said “the prospectus is a masterpiece of obfuscation” adding that if the figures were encouraging there would be no need to be so opaque. Triton uses what it calls an obfuscation index to evaluate companies that are preparing to list, which it claims has a very good record. Based on how straight-forward firms present their financials in their S-1, Triton found Elastic NV and Smartsheet, which are up an average of 92% from their IPO, scored highly on the index.