Revenue Revealer
Is revenue structurally sound or dependent on fragile conditions?
Additional derived signals may emerge during analysis based on company-specific findings.
The Revenue Revealer analyzes the structural composition and durability of a company's revenue streams, identifying dependencies on fragile conditions like customer concentration, regulatory treatment, or external constraints.
This lens complements Gravy Gauge with a broader structural analysis. While Gravy Gauge focuses on specific "gravy train" patterns (regulatory loopholes, subsidy dependence), Revenue Revealer provides comprehensive revenue structure assessment for any company.
Signals Produced
What This Lens Catches
Customer concentration
Example: Top customer >20% of revenue
Look for: Customer concentration disclosure
Regulatory dependency
Example: Revenue tied to specific reimbursement codes
Look for: Healthcare billing exposure
Geographic concentration
Example: >50% revenue from single market
Look for: Geographic segment data
Product concentration
Example: Single product >60% of revenue
Look for: Product segment breakdown
Contract vulnerability
Example: Short-term, at-will contracts
Look for: Contract terms, renewal rates
Recurring revenue
Example: Multi-year contracts with high renewal rates
Look for: Remaining performance obligations
Analysis Stages
Revenue Composition
What are the revenue streams and their quality characteristics?
Regulatory Dependency
Does revenue depend on specific regulatory treatment?
Concentration Analysis
Is revenue concentrated in few customers, geographies, or products?
Contract Quality
Are contracts recurring, long-term, and sticky?
Sustainability Timeline
If fragile, how quickly does revenue disappear?
- Assess accounting manipulation (that's Fugazi Filter)
- Assess competitive position (that's Moat Mapper)
- Assess capital structure (that's Stress Scanner)
- Make buy/sell recommendations
- Predict regulatory changes