Q: Hey guys - thanks for the great service!
From Well Health FY 2024 reporting - I read Well was penalized $2.8B USD for the Circle business billing. "Company recognized an expense of USD $2.8 million for the year ended December 31, 2024, for estimated settlement costs."
For a company with a Market Cap of about $1B.....this settlement cost appears to overwhelm any chance to remain solvent looking into the foreseeable future. What am I missing.
Glenn
From Well Health FY 2024 reporting - I read Well was penalized $2.8B USD for the Circle business billing. "Company recognized an expense of USD $2.8 million for the year ended December 31, 2024, for estimated settlement costs."
For a company with a Market Cap of about $1B.....this settlement cost appears to overwhelm any chance to remain solvent looking into the foreseeable future. What am I missing.
Glenn
5i Research Answer:
WELL had $56.6M in revenue that was under question, and took a charge of $2.8 million, not billion.