$12.95m settlement over improper payments

[anonymous]

Biotronik made most people I know behave in criminal fashion. Are they all dirtbags or is it the culture?!

Starving animals will go to extraordinary measures to obtain a meal, even if it is in their long term disinterest.

 

[anonymous]

That’s accurate. BINC is no longer leading in profitability. SG&A expenses as a percentage of revenue for the U.S. market are nearly double that of the next closest region and growing. That would be fine if top line revenue was also expanding to match. Unfortunately, BINCs top line revenue has remained stagnant since Marlo’s was in charge.

To be clear, BINC opex actually decreased in 2020, was flat in 2021 and has returned to pre-pandemic levels so far in 2022 despite the field headcount reductions. That should be very concerning to leadership as it’s a clear sign that the fundamentals are out of whack with this business. Had it not been for the 20% pay cut employees were required to take for 6 months in 2020, the company would have been another $45-50m in the red for the year.

 

[anonymous]

The BINC company troops shouldn’t eat until the company becomes profitable again. Period

 

[anonymous]

The BINC company troops shouldn’t eat until the company becomes profitable again. Period

Well, now you know why Ryan has been peddling contract extensions for reps with 5% commissions on core CRM. The days of 10% contracts are long gone. BIO was the only mainline CRM company remaining to be this generous, cause it needed to be, cause it is a lot harder to sell BIO then any other CRM. But 10% sales payouts is pushing the company deeper into the red. Leaner years ahead for everyone. Sub-$2000 ASPs on pacers simply can’t support the legacy ways we worked.