CAUD (Collective Audience) Beneish M-Score : -5.40 (As of Oct. 09, 2024)

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What is Collective Audience Beneish M-Score?

The zones of discrimination for M-Score is as such:

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Good Sign:

Beneish M-Score -5.4 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Collective Audience's Beneish M-Score or its related term are showing as below:

CAUD' s Beneish M-Score Range Over the Past 10 Years
Min: -5.54 Med: -5.47 Max: -5.4
Current: -5.4

During the past 4 years, the highest Beneish M-Score of Collective Audience was -5.40. The lowest was -5.54. And the median was -5.47.

Collective Audience Beneish M-Score Historical Data

The historical data trend for Collective Audience's Beneish M-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Collective Audience Beneish M-Score Chart

Collective Audience Annual Data

Trend

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

-5.54

Collective Audience Quarterly Data
	Dec20	Jun21	Dec21	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24
Beneish M-Score	Get a 7-Day Free Trial							-	-	-5.54	-	-5.40

Competitive Comparison of Collective Audience's Beneish M-Score

For the Software - Application subindustry, Collective Audience's Beneish M-Score, along with its competitors' market caps and Beneish M-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Collective Audience's Beneish M-Score Distribution in the Software Industry

For the Software industry and Technology sector, Collective Audience's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Collective Audience's Beneish M-Score falls into.

Collective Audience Beneish M-Score Calculation

The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.

The M-Score Variables:

The M-score of Collective Audience for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 * 0.5237

0.528 * 1

0.404 * 0.9212

0.892 * 0.6

0.115 * 0.8441

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.6703

4.679 * -0.262624

0.327 * 3.2487

-5.40

This Year (Jun24) TTM:

Last Year (Jun23) TTM:

Total Receivables was $0.26 Mil.
Revenue was 0 + 0 + 12.142 + 0 = $12.14 Mil.
Gross Profit was 0 + 0 + 12.142 + 0 = $12.14 Mil.
Total Current Assets was $2.05 Mil.
Total Assets was $13.31 Mil.
Property, Plant and Equipment(Net PPE) was $0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.76 Mil.
Selling, General, & Admin. Expense(SGA) was $6.82 Mil.
Total Current Liabilities was $6.83 Mil.
Long-Term Debt & Capital Lease Obligation was $3.58 Mil.
Net Income was -1.317 + -1.211 + -3.316 + -0.416 = $-6.26 Mil.
Non Operating Income was 0 + 0 + 2.099 + -0.025 = $2.07 Mil.
Cash Flow from Operations was -0.607 + -0.56 + -3.545 + -0.127 = $-4.84 Mil.

Total Receivables was $0.84 Mil.
Revenue was 0 + 0 + 20.236 + 0 = $20.24 Mil.
Gross Profit was 0 + 0 + 20.236 + 0 = $20.24 Mil.
Total Current Assets was $1.34 Mil.
Total Assets was $17.18 Mil.
Property, Plant and Equipment(Net PPE) was $0.06 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.34 Mil.
Selling, General, & Admin. Expense(SGA) was $6.80 Mil.
Total Current Liabilities was $3.86 Mil.
Long-Term Debt & Capital Lease Obligation was $0.27 Mil.

1. DSRI = Days Sales in Receivables Index

Measured as the ratio of Revenue in Total Receivables in year t to year t-1.

A large increase in DSR could be indicative of revenue inflation.

DSRI	=	(Receivables_t / Revenue_t)	/	(Receivables_t-1 / Revenue_t-1)
	=	(0.263 / 12.142)	/	(0.837 / 20.236)
	=	0.02166	/	0.041362
	=	0.5237

2. GMI = Gross Margin Index

Measured as the ratio of gross margin in year t-1 to gross margin in year t.

Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.

GMI	=	GrossMargin_t-1	/	GrossMargin_t
	=	(GrossProfit_t-1 / Revenue_t-1)	/	(GrossProfit_t / Revenue_t)
	=	(20.236 / 20.236)	/	(12.142 / 12.142)
	=	1	/	1
	=	1

3. AQI = Asset Quality Index

AQI is the ratio of asset quality in year t to year t-1.

Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.

AQI	=	(1 - (CurrentAssets_t + PPE_t) / TotalAssets_t)	/	(1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1)
	=	(1 - (2.053 + 0) / 13.308)	/	(1 - (1.344 + 0.063) / 17.183)
	=	0.845732	/	0.918117
	=	0.9212

4. SGI = Sales Growth Index

Ratio of Revenue in year t to sales in year t-1.

Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.

SGI	=	Sales_t	/	Sales_t-1
	=	Revenue_t	/	Revenue_t-1
	=	12.142	/	20.236
	=	0.6

5. DEPI = Depreciation Index

Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.

DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.

DEPI	=	(Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1))	/	(Depreciation_t / (Depreciaton_t + PPE_t))
	=	(0.341 / (0.341 + 0.063))	/	(0.756 / (0.756 + 0))
	=	0.844059	/	1
	=	0.8441

Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.

6. SGAI = Sales, General and Administrative expenses Index

The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.

SGA expenses index > 1 means that the company is becoming less efficient in generate sales.

SGAI	=	(SGA_t / Sales_t)	/	(SGA_t-1 /Sales_t-1)
	=	(6.815 / 12.142)	/	(6.8 / 20.236)
	=	0.561275	/	0.336035
	=	1.6703

7. LVGI = Leverage Index

The ratio of total debt to Total Assets in year t relative to yeat t-1.

An LVGI > 1 indicates an increase in leverage

LVGI	=	((LTD_t + CurrentLiabilities_t) / TotalAssets_t)	/	((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1)
	=	((3.579 + 6.825) / 13.308)	/	((0.271 + 3.864) / 17.183)
	=	0.781785	/	0.240645
	=	3.2487

8. TATA = Total Accruals to Total Assets

Total accruals calculated as the change in working capital accounts other than cash less depreciation.

TATA	=	(IncomefromContinuingOperations_t	-	CashFlowsfromOperations_t)	/	TotalAssets_t
	=	(NetIncome_t - NonOperatingIncome_t	-	CashFlowsfromOperations_t)	/	TotalAssets_t
	=	(-6.26 - 2.074	-	-4.839)	/	13.308
	=	-0.262624

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Collective Audience has a M-score of -5.40 suggests that the company is unlikely to be a manipulator.

Collective Audience Beneish M-Score Related Terms

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Collective Audience Business Description

Industry

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Comparable Companies

Traded in Other Exchanges

N/A

Address

85 Broad Street, 16-079, New York, NY, USA, 10004

Website

https://www.collectiveaudience.co

Collective Audience Inc is a provider of e-commerce and digital customer acquisition solutions by simplifying digital advertising. It provides a platform that brings all the latest trends, news, and strategies to use from the collective intelligence of their contributors. The company's digital marketing business includes a holistic, self-serve ad tech platform. Its proprietary data-driven, AI-powered solutions allows brands and agencies to advertise across thousands of the world's dominant digital and connected TV publishers.