{
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  "docSlug": "cce862680d4f",
  "documentTitle": "Heska Corporation (HSKA)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Spruce Point Capital Management",
  "documentKindSlug": "activist-deck",
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  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2021-10-25 00:00:00",
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  "pageNumber": 12,
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  "notes": "Uses screenshots of press releases to highlight the discrepancy in reporting standards.",
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      "kind": "callout",
      "text": "Examining the earnings press releases of Heska and IDEXX presents a study in contrasts. Heska lets readers believe that its strong growth in 2020 was organic, while IDEXX quotes both historical and projected metrics in both as reported and organic growth terms.",
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      "kind": "callout",
      "text": "Heska grew just 5% in 2020 after adjusting for scil and CVM",
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      "kind": "image",
      "text": "IDEXX Q2 2021 Earnings Press Release",
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      "text": "Heska Q1 2021 Earnings Press Release",
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      "kind": "source-note",
      "text": "Source: Heska press releases dated 2/23/21, IDEXX earnings press release dated 7/30/21",
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      "kind": "title",
      "text": "Heska Has A Habit Of Representing Itself Has A Strong Organic Grower",
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      "evidence": "Contrasting reporting styles to expose misleading organic growth claims.",
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      "evidence": "The deck presents several contradictions and inconsistencies in Heska Corp.'s financial reporting and business model.",
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