Neither is more correct than the other
Being a hair-splitter
... I have to disagree.
When talking about the output of a flashlight, you wanna know what comes out the front of the torch as usable light, and not what the theoretical luminous flux of the emitter is.
The problem is that measuring torch lumens is far from trivial, you need an integrating sphere to do it. Expensive and difficult process.
Most manufacturers quote the theoretical luminous flux of the LED emitter according to the data sheet. However, they do not take into account the losses of light transmission dues to the lens and reflector ... AND ... the heating of the die with the reduced efficiency ... etc.
Which means that you actually do not get just another way of measuring output ... but a number quoted from a data sheet that is known to be incorrect. There is no measurement. It is deception.
This situation makes a comparison of manufacturer claims difficult at best.
Manufacturers that measure true luminous flux out the front end (list not complete):
Arc
HDS
Novatac
SF
Then there are the "theoretical emitter lumens" manufacturers like Fenix et al. ... but the worst bunch are the liars, those that put marketing hype before everything else. Typically those are the cheap lights that you recognize right away so there's no real danger and just some annoyance. But there are others who play the game quite well. LED Lenser (Coast in USA) comes to mind. They sport some of the wildest claims in the industry.
If you really wanna know what is going on, you have to become a flashaholic and use CPF's resources.
bernie