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Revenue Recognition: Soul Cycle Case Based on the SoulCycle case Do you think the media coverage indicating that SoulCycle earned $25 million in expired

Revenue Recognition: Soul Cycle Case Based on the SoulCycle case

Do you think the media coverage indicating that SoulCycle "earned $25 million in expired gift cards in 2014" fairly characterizes the economics at play in this situation (as indicated by SoulCycle's financial statements)? Why or why not?

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