View CEO Message to Employees, Customers and Shareholders
November 09 2021 - 6:57PM
View, Inc. (NASDAQ: VIEW, “View”), the leader in smart building
technologies, today posted the following message on its website,
www.view.com:
“To View employees, customers, and shareholders,
Today we announced the substantial completion of View’s Audit
Committee investigation that found material errors in our
previously reported warranty accruals relating to an older
generation product. We expect that a restatement of our 2019, 2020,
and 2021 financials will be required. Uncovering an issue with the
functioning of our finance and accounting organization is painful.
As CEO, I take full ownership and I am fully committed to do
everything I can to correct this. We built View to be excellent in
everything we do. Finance and accounting are no less a part of that
commitment than other functions.
We view our business in four quadrants: Products, Customers,
Operations, and the Corporate Infrastructure that supports the
first three. As a fast-growing company with a mission to transform
a major industry, develop unique technology and a “full-stack” of
products, and deal with sophisticated manufacturing processes, we
have complex issues to manage. We sometimes feel as though we are
building the airplane as we fly it. While it might be
understandable that infrastructure would fall behind these other
areas, as CEO, these issues are not acceptable to me, and I intend
to make sure that we have world-class infrastructure to support our
planned growth.
In order to help with this, I’ve asked Harold Hughes, our
longstanding board member and former CFO of Intel, to join us as
Executive Chairman to bring laser focus to strengthening our
finance function. Harold will help recruit a CFO and build the
financial systems needed to scale View into a world-class company.
Amy Reeves, our Chief Accounting Officer will serve as our Acting
CFO and will work closely with Harold.
At View, we are fully committed to our mission. The real estate
industry is going through massive advances in sustainability, user
experience, human health, and digital transformation. We have
several exciting products that provide significant benefits to
society and our customers continue to return for repeat business.
We are projecting over 100% revenue growth this year, and expect to
have continued, sustained strong growth well into the future.
I am grateful to all of you for your support as we work quickly,
efficiently and effectively to remedy this issue and move forward
to continue the company’s growth and success.
Rao Mulpuri, PhDCEO, View, Inc.”
About ViewView is the leader in smart building
technologies that transform buildings to improve human health and
experience, reduce energy consumption and carbon emissions, and
generate additional revenue for building owners. View Smart Windows
use artificial intelligence to automatically adjust in response to
the sun, eliminating the need for blinds and increasing access to
natural light. Every View installation includes a cloud-connected
smart building platform that can easily be extended to improve
indoor cellular coverage, enhance building security, and reimagine
the occupant experience. View is installed and designed into more
than 92 million square feet of buildings including offices,
hospitals, airports, educational facilities, hotels, and
multi-family residences. For more information, please visit:
www.view.com.
Contacts:
For Investors: Samuel MeehanView,
Inc.IR@View.com408-493-1358
View (NASDAQ:VIEW)
Historical Stock Chart
From Mar 2024 to Apr 2024
View (NASDAQ:VIEW)
Historical Stock Chart
From Apr 2023 to Apr 2024