ROBERT WAYNE HERBOLD
Frisco,TX
Summary
Dynamic Chief Financial Officer with a proven track record of driving organizational growth and fostering innovation through strategic leadership. Expertise in implementing transformative initiatives that enhance operational efficiency and elevate financial performance. Recognized making data-driven decisions aligned with corporate objectives. Committed to leveraging financial acumen to support sustainable business success and long-term value creation.
Overview
20
20
years of professional experience
Work History
President/Chief Financial Officer
Pediatric Home Healthcare
05.2022 - Current
- Successfully sold the Private Duty Nursing line of business for 12x EBITDA to a PE backed competitor.
- Closed a $24M debt & equity facility to facilitate acquisition growth across the country.
- Increased billable hours from 17,000 to 21,000 in less than a year.
- Consolidated 9 corporate entities into 3 distinct entities and business lines. Successfully sold two of the 3 units for 8x multiples.
- Secured value based contracts for over $3M in increased revenue annually.
- Drove revenue increase from $44M upon being hired to current run rate of $62M.
- Created efficiency in the hiring of nurses from a $1,000 average cost-to-hire down to $400 average cost-to-hire and decreased the days-to-hire from 30+ to an average of 12.
- Successfully transitioned the ERP from NetSuite to Dynamics 365 and implemented Datarails as the BI processor to speed the reporting of KPI's to real-time and reduce month close to 10 days.
- Transitioned the EMR system from Kantime to CubHub which increased efficiency of staffing while saving $40k annually.
Chief Financial Officer
Restorapet
01.2019 - 03.2022
- Successfully sold the business to a Chinese supplement consolidator company for a 3x multiple.
- Worked with the CEO to raise $2M from investors to grow the company from $120k revenue per year in 2018, to $3M revenue in 2021.
- Secured the #1 fastest pet brand in the INC 5000 in 2021.
- Consolidated all operational and financial platforms into a singular BI analytic tool allowing KPI's to be run and full corporate-wide visibility into the efficiency of sales and marketing.
- Rolled out a new commission and incentive plan for go-to-market sales persons to penetrate the wholesale market as a supplement to the e-commerce core market.
- Coordinated with marketing to drive CPA from $180+ to $60 and grew ROA's from less than $1 to $6+.
Vice President - Finance
Teladoc, Inc
05.2015 - 11.2018
- Acted alongside CFO/COO to take company Public and raised $157M at the IPO creating a successful liquidity event for all shareholders.
- Managed the finance team of 25 directors and analyst as revenue grew from $75M to over $400M in while managing costs to become EBITDA positive within 2 years of IPO.
- Led the finance team in due diligence, integration and complete acquisition of Best Doctors in July of 2017 for $440M.
- Directed and acted as key decision maker for the acquisition of Healthiest You for $125M. Negotiated with bank for additional borrowing ability and underwriters for additional stock issuance to finance the deal.
- Drafted MD&A and provided support for all information in the initial S-1 and all subsequent drafts until the final was filed and company became public.
- Closed on a $30M+ acquisition with a 50/50 stock and cash deal 2 weeks before listing publicly and worked with bankers to factor a reverse split into the price of the stock at the ideal amount.
- Created a team of Financial Analyst to overhaul entire database hierarchy underlying company's operations and found $500,000 in annual unbilled revenue.
- Designed new commission plan structure for sales incentive which helped our sales team generate a 48% increase in revenue year over year.
- Oversaw transition to Dynamics AX for the general ledger and BI 360 for the Budget/Planning and FP&A section. Subsequently led the transition from BI360 to Host Analytics for all Financial Planning and Analysis and consolidation reporting for the SEC.
- Created and presented strategy to become EBITDA positive within 2 years of becoming public to executive management, the board and investors.
- Monitored sales productivity and client retention to mitigate loss and find additional revenue drivers keeping client revenue retention rates over 95% each year.
- Created and maintained an executive dashboard of KPI's for the financial operations of the company sent out to the executive team daily.
Chief Financial Officer
Fitchwood Management
04.2006 - 04.2017
- Sold Company to Goodwin Harrison Management for 4X Revenue in April 2017.
- Oversaw and managed cash assets of $8+ million from 25 homeowners associations (HOAs).
- Coordinated with each Board of Directors to set annual budgets and manage expenses & receivables to achieve positive budget variance. Have never had an HOA miss the targeted budget.
- Obtained $60,000 - $100,000 lines of credit for HOAs for capital improvements.
- Prepared comprehensive financial documents and present to all homeowner meetings.
- Reduced overhead for each HOA by thousands of dollars by switching to a paperless system.
Corporate Controller
Teladoc, Inc
04.2007 - 05.2015
- Facilitated 6 equity raises to secure $122M from 9 different Venture Capital Groups.
- Set controls for monthly, quarterly, and year-end closes and documented processes for auditors.
- Oversaw the budget and financials during growth from $2M to $70M+ in revenues.
- Managed a team of 16 accountants and clerical staff.
- Completed audits from Big 4 outside audit firm for the years of 2013 and 2014 as well as for two acquisitions for those same periods to be GAAP compliant all in a 6 month time span.
- Controlled spending and cut costs to ensure viability between equity raises.
- Acted as finance liaison and implementation point of knowledge for 3 acquisitions ranging from $7M to $18M each. Created due diligence templates and board reports to secure authorization to proceed with each acquisition. Assisted in pricing and valuation of each acquisition and structuring of deals.
- Designed and implemented a custom billing system for Teladoc's unique business model increasing billing accuracy and reducing the invoicing process by 2 days.
- Routinely evaluated alternatives to all expense groups seeking efficiency and cost savings.
- Secured a $17M line of credit to fund an acquisition and renegotiated to $30M for additional acquisition 6 months later.
- Designed, maintained, and analyzed a rolling 5-year projection while maintaining annual budget.
- Managed general ledger, accounts receivable, accounts payable, payroll departments, and all financial reporting.
- Implemented company sponsored travel and expense automation.
Education
Master of Business Administration - Finance
THE UNIVERSITY OF TEXAS AT DALLAS
Bachelor of Arts - Economics, Finance
THE UNIVERSITY OF TEXAS AT AUSTIN
Skills
- Budget & Forecast Modeling
- Negotiation
- Strategic Planning
- Financial Reporting (GAAP)
- Cash Flow Management
- Pricing Analysis
- Consolidating Financial Company Statements
- Mergers & Acquisitions
- Equity Raises
- Public Company Financials
- Management
- Expert Excel Skills
- Advanced Microsoft Office Suite
- Microsoft Dynamics
- QuickBooks
- Bi360
- Tableau
- Host Analytics
Technology Skill Set
- Expert Excel Skills
- Advanced Microsoft Office Suite
- Microsoft Dynamics
- QuickBooks
- Bi360
- Tableau
- Host Analytics
- Datarails
- Working Knowledge of SQL
Timeline
President/Chief Financial Officer
Pediatric Home Healthcare
05.2022 - Current
Chief Financial Officer
Restorapet
01.2019 - 03.2022
Vice President - Finance
Teladoc, Inc
05.2015 - 11.2018
Corporate Controller
Teladoc, Inc
04.2007 - 05.2015
Chief Financial Officer
Fitchwood Management
04.2006 - 04.2017
Bachelor of Arts - Economics, Finance
THE UNIVERSITY OF TEXAS AT AUSTIN
Master of Business Administration - Finance
THE UNIVERSITY OF TEXAS AT DALLAS