The SEC's patience is running thin with an accounting measure that WeWork, Peloton, and Uber are fond of. Here's how it works and why it can be misleading.

Business Insider

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· Before its aborted IPO, WeWork's parent We Co used a measure known as contribution margin to suggest that its core operations were strong and profitable, to the tune of $340 million in the first half of 2019 — even though it had a net loss of $905 million.
· At a December accounting conference, Patrick Gilmore, a senior...

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