Tintri, Inc., a cloud management services provider, filed for Chapter 11 bankruptcy about one year after launching its initial public offering. While the company was viewed as a high growth business in late 2017, our FRISK® score indicated that the operator was financially distressed and had an elevated probability of bankruptcy. It wasn't long before the growth story derailed following employee turnover and reduced confidence for contract renewals by customers.
As detailed in this Bankruptcy Case Study, CreditRiskMonitor's proprietary subscriber crowdsourcing was a factor that helped identify financial trouble at this company. Our subscribers' unique research patterns on our web-service were indicative of heightened concern and increased risk. Other important financial factors are also addressed, including the company's persistent cash burn and high financial leverage.
Tintri, Inc.'s elevated bankruptcy risk was signaled well in advance by our proprietary FRISK® score.
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Our FRISK® score model incorporates four powerful risk inputs:
- “Merton”-type model of stock market capitalization and volatility
- Financial ratios, including those used in the Altman Z”-Score Model
- Bond agency ratings from Fitch, Moody's, and DBRS Morningstar
- Website click pattern data from CreditRiskMonitor® subscribers, representing key credit decision-makers at more than 35% of current Fortune 1000 companies plus thousands of other large companies worldwide
Since the start of 2017, the FRISK® score’s rate of success in capturing public company bankruptcy is 96%. In any given year, you can count on one hand the times we miss – and in those outlier cases, the circumstances deal with unusual, unforeseen events such as natural disasters and CEO fraud.
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About Bankruptcy Case Studies
CreditRiskMonitor® Bankruptcy Case Studies provide post-filing analyses of public company bankruptcies. Our case studies educate subscribers about methods they can apply to assess bankruptcy risk using our proprietary FRISK® score, robust financial database, and timely news alerts.
In nearly every case, a low FRISK® score gave our subscribers early warning of financial distress within a one-year time horizon. Our proprietary FRISK® score predicts bankruptcy risk at public companies with 96% accuracy. The score is formulated by a number of indicators including stock market capitalization and volatility, financial ratios, bond agency ratings from Moody’s, Fitch and DBRS, and crowdsourced behavioral data from a subscriber group that includes 35% of the Fortune 1000 and thousands more worldwide.
Whether you are new to credit analysis or have decades of experience under your belt, CreditRiskMonitor® Bankruptcy Case Studies offer unique insights into the business and financial decline that precedes bankruptcy.