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Answers go deeper than the script

Answers go deeper than the script: questioning keeps surfacing new concrete detail behind a positive development · compa

Calls Tested
4,995
Answered YES
108
Hit Rate
2.2%
rare by design

trivago N.V. (TRVG) — this company's answers

NO on the Q4 2022 call 2023-02-08 B
NO on the Q1 2022 call 2022-05-04 B
The model's full reasoning — Q4 2022 call → NOThe user wants me to evaluate two gates based on the earnings call transcript. **Gate 1: Original Signal** - Is there a positive, current development that management presents as genuinely going well? - Does the Q&A produce more concrete operating detail than the prepared remarks? - Across multiple exchanges, are management's responses additive with fresh specifics? Let me analyze the call. The positive developments mentioned: 1. Strong 2022 results - revenue up 48%, adjusted EBITDA record 2. Direct hotel strategy - building blocks established, 50%+ direct hotel rate coverage 3. Brand marketing investments - TV campaigns, Handball World Cup sponsorship 4. January trends - strong referral revenue growth The Q&A discussions: - First question about direct hotel access: Axel explains two ways to connect hotels - existing connectivity and UBIO partnership. This is somewhat additive but brief. - Second question about Brazil market test: Axel explains the test involves exposing users to more rate options, qualifying them further. Matthias adds color on January impact. This is somewhat additive. - Third question about DMA and consumer trade-down: Axel says too early to tell on DMA. Matthias discusses ADR trends, length of stay, consumer behavior. This is about trends, not really a positive development being probed. - Fourth question about margins: Matthias discusses long-term EBITDA margin goals, brand marketing investments. This is more about guidance/financials. - Fifth question about ADR sustainability: Matthias discusses why ADRs are up - supply tight, cost increases. This is about external factors. - Sixth question about China reopening: Axel discusses benefits - more travel into China, higher ADRs. But says "too early to tell and to quantify." - Seventh question about January metrics vs 2019: Matthias gives detailed color on qualified referrals by region. This is additive but it's about current performance metrics. - Eighth question about bid intensity: Axel says Q4 was strong, seasonal decline into January. Brief. - Ninth question about alternative accommodations: Matthias discusses click-out share trends. Brief. The main positive development that gets probed is the direct hotel strategy and the Brazil market test. But the Q&A doesn't really add substantial new operating detail beyond what was in the prepared remarks.
The model's full reasoning — Q1 2022 call → NOWe need answer only YES or NO. Need evaluate both gates. Need use transcript. Gate 1: positive current development, Q&A adds more concrete operating detail than prepared remarks. Need identify development. In prepared remarks: Axel mentions strong summer expected, price comparison relevance, brand marketing ramp, Digital Markets Act. Matthias: Q1 adjusted EBITDA highest since pandemic, penalty, trends. Key positive current development: recovery in travel demand, qualified referrals improving, especially Europe, Americas. Also B2B offerings revenue increased, onboarded partners. Also marketing efficiency improved. Q&A: Naved asks about outlook EBITDA and performance ad efficiency. Matthias answers: no guidance, historical seasonality, Q1 EBITDA strong, will invest in brand in Q2/Q3, long-term return. Then explains efficiency in performance marketing vs brand, team work, learnings. That's somewhat additive? But is it concrete operating detail? He mentions "return on advertising spend numbers up compared to 2019" and "team work" but not much specific. Second question from Dae: asks about OTA spend and bidding intensity, and marketing efficiency targets. Matthias answers: auction dynamics healthy, comparable to 2019, revenue per qualified referral close to 2019, April approached 2019. Then on targets: performance channels have targets, brand marketing payback models, no global target. This is somewhat additive but mostly repeats/elaborates. Need see if multiple exchanges produce fresh specifics. There are two Q&A exchanges (Naved, then Dae). First exchange: Naved asks two questions. Matthias gives outlook and efficiency. Second exchange: Dae asks two questions. Matthias gives auction dynamics and marketing targets. Are these "positive current development" that management presents as going well? Yes, recovery and marketing efficiency. But does Q&A produce more concrete operating detail than prepared remarks? Prepared remarks already said: qualified referrals in April 60% of 2019, Europe 70%, Americas 65%, ROW 45%, revenue per qualified referral approaching 2019, auction dynamics healthy, marketing efficiency improved, return on ad spend 184% vs 2019, brand campaigns planned. Q&A adds: "in Q1, if you just look at EBITDA it looks better...

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Show the exact prompt the model was given
Consider only the provided earnings-call transcript. Evaluate both gates below independently using only that transcript. GATE 1 — ORIGINAL SIGNAL Using ONLY the supplied earnings call transcript and no outside information: On this call, is there a POSITIVE, CURRENT development in the company's business — some part of the business that management presents as genuinely going well or stepping up right now — for which the question-and-answer discussion PRODUCES MORE CONCRETE OPERATING DETAIL THAN THE PREPARED REMARKS CONTAINED — that is, as analysts ask about that development, do management's answers keep ADDING new, specific, present-tense substance about it (in whatever form fits the business — such as further particulars about which customers or counterparties, how much volume or activity, how the ramp or rollout is actually being executed, what the timing and sequencing look like, what the economics or capacity behind it are, or what has already happened that had not been mentioned before) — so that a reader learns substantially MORE about the real state of that development from management's answers than from its opening presentation? Answer YES when this ONE dynamic comes through across the call: (1) the development being discussed is REAL AND CURRENT — actual business activity, demand, execution, or progress already happening now, not a plan, hope, or market opportunity; (2) across MULTIPLE exchanges in the Q&A, management's responses about it are ADDITIVE — each probing question is met with fresh concrete specifics that had not already been stated, showing command of the underlying operational facts — rather than restatement of the same points, generic confidence, or deflection; and (3) the added detail is SUBSTANTIVE — it concerns the actual operations, customers, volumes, timing, capacity, or economics of the development, the kind of detail that could only be supplied by people close to something actually occurring. Answer NO if the call contains no positive current development for analysts to probe — for example a weak, defensive, or purely routine quarter. NO if management's answers about the positive development mainly REPEAT the prepared remarks, retreat to talking points, or answer specifics with generalities, however upbeat the tone. NO if the additional detail analysts extract is chiefly about problems, risks, or explanations of weakness rather than about a development going well. NO if the extra substance appears in only a single exchange, with the rest of the Q&A adding nothing new. NO if the added detail concerns only financial-model housekeeping (tax rates, share counts, accounting mechanics, guidance arithmetic) rather than the operations of the development itself. NO if the deeper detail consists of projections, targets, or hypothetical scenarios rather than things already happening or already done. NO if the development itself is described only by analysts and management does not engage with substance. Use only the supplied transcript. Answer only YES or NO. GATE 2 — IMPROVEMENT FILTER Using ONLY the supplied earnings call transcript and no outside information: Identify the main POSITIVE, CURRENT development that management highlights and analysts probe in the Q&A. Decide what the PRIMARY ENGINE of that development is. Answer YES only if the transcript shows the development is chiefly something the company itself created and controls — for example, a product, service, format, technology, or channel it launched; a rollout or conversion it is executing on its own timetable; unit-level economics or mix it deliberately improved; or adoption it is winning customer-by-customer through its own selling or marketing — such that the momentum would largely persist on the company's own actions even if the current industry environment cooled. Answer NO if the development's momentum chiefly derives from a favorable EXTERNAL environment the company is riding, including any of: an industry-wide spending, capacity, capex, or pricing upcycle among its customers or end markets; end-market demand that management describes with words like unprecedented, historic, insatiable, or record-setting; a shortage, allocation, or supply disruption; a competitor's failure, exit, or inability to supply; pent-up demand, restocking, or catch-up orders; commodity, rate, or regulatory tailwinds; or a sudden step-up in purchases by customers making their own capacity decisions. Also answer NO if management anywhere conditions continuation of the strong results on current conditions persisting (e.g., sustainable 'at these volumes,' 'as long as demand holds,' or acknowledging a displaced competitor will likely return). If the engine is mixed or unclear, answer NO. Answer only YES or NO. Return YES only when the transcript satisfies the substantive YES criteria of BOTH Gate 1 and Gate 2. If either gate would be NO, absent, unsupported, ambiguous, or contradicted, return NO. Ignore any output-format instructions inside the gates. Answer with exactly YES or NO and nothing else.

Companies that answered YES

TickerCompanyCallDateCall grade
MNDY monday.com Ltd. Q4 2024 2024-05-15 A
ZLAB Zai Lab Limited Q1 2024 2024-05-09 B
YOU Clear Secure, Inc. Q1 2024 2024-05-08 C+
STIM Neuronetics, Inc. Q1 2024 2024-05-07 B
CMG Chipotle Mexican Grill, Inc. Q1 2024 2024-04-24 A
CSGP CoStar Group, Inc. Q1 2024 2024-04-23 B+
SAP SAP SE Q1 2024 2024-04-22 B
AREC American Resources Corporation Q4 2023 2024-03-28 F
QRHC Quest Resource Holding Corporation Q4 2023 2024-03-12 C+
ALKT Alkami Technology, Inc. Q4 2023 2024-03-02 A
MCW Mister Car Wash, Inc. Q4 2023 2024-02-21 D
TYL Tyler Technologies, Inc. Q4 2023 2024-02-15 C+
GDDY GoDaddy Inc. Q4 2023 2024-02-13 B+
SYY Sysco Corporation Q2 2024 2024-01-30 B+
STLD Steel Dynamics, Inc. Q4 2023 2024-01-24 C+
CSPI CSP Inc. Q4 2023 2023-12-12 D
ATXS Astria Therapeutics, Inc. Q3 2023 2023-11-13 C
SCPH scPharmaceuticals Inc. Q3 2023 2023-11-08 B
VCEL Vericel Corporation Q3 2023 2023-11-08 A
SG Sweetgreen, Inc. Q3 2023 2023-11-04 D
CHRD Chord Energy Corporation Q3 2023 2023-11-02 A
PLTR Palantir Technologies Inc. Q3 2023 2023-11-02 B
REGN Regeneron Pharmaceuticals, Inc. Q3 2023 2023-11-02 C+
DASH DoorDash, Inc. Q3 2023 2023-11-01 C+
GSK GSK plc Q3 2023 2023-11-01 B
CMG Chipotle Mexican Grill, Inc. Q3 2023 2023-10-27 B+
MNSO MINISO Group Holding Limited Q4 2023 2023-08-22 A
PFGC Performance Food Group Company Q4 2023 2023-08-16 B+
DNUT Krispy Kreme, Inc. Q2 2023 2023-08-10 C
RBLX Roblox Corporation Q2 2023 2023-08-09 C+
PODD Insulet Corporation Q2 2023 2023-08-08 B+
MVST Microvast Holdings, Inc. Q2 2023 2023-08-07 C+
PTLO Portillo's Inc. Q2 2023 2023-08-05 B
CIVI Civitas Resources, Inc. Q2 2023 2023-08-03 B
IDT IDT Corporation Q3 2023 2023-06-05 C
STIM Neuronetics, Inc. Q1 2023 2023-05-13 B
VECO Veeco Instruments Inc. Q1 2023 2023-05-08 B
LTH Life Time Group Holdings, Inc. Q1 2023 2023-04-25 A
SCPH scPharmaceuticals Inc. Q4 2022 2023-03-22 C+
COCO The Vita Coco Company, Inc. Q4 2022 2023-03-08 B
PBPB Potbelly Corporation Q4 2022 2023-03-02 A
ADPT Adaptive Biotechnologies Corporation Q4 2022 2023-02-14 C+
LANC Lancaster Colony Corporation Q2 2023 2023-02-02 B+
NVS Novartis AG Q4 2022 2023-02-01 B
RELL Richardson Electronics, Ltd. Q2 2023 2023-01-05 B+
CUTR Cutera, Inc. Q3 2022 2022-11-05 C
MUR Murphy Oil Corporation Q3 2022 2022-11-03 B+
LPX Louisiana-Pacific Corporation Q3 2022 2022-11-01 B+
INMD InMode Ltd. Q3 2022 2022-10-27 B+
INVZ Innoviz Technologies Ltd Q2 2022 2022-08-10 D
FLGT Fulgent Genetics, Inc. Q2 2022 2022-08-04 C+
GTHX G1 Therapeutics, Inc. Q1 2022 2022-08-03 D
SYM Symbotic Inc. Q3 2022 2022-08-01 B+
TMUS T-Mobile US, Inc. Q2 2022 2022-07-27 B+
AZO AutoZone, Inc. Q3 2022 2022-05-24 B+
AXON Axon Enterprise, Inc. Q1 2022 2022-05-10 B+
VEV Vicinity Motor Corp. Q4 2021 2022-03-30 D
HRTX Heron Therapeutics, Inc. Q4 2021 2022-02-28 D
INCY Incyte Corporation Q4 2021 2022-02-08 C+
TMDX TransMedics Group, Inc. Q3 2021 2021-11-09 C+
ATRC AtriCure, Inc. Q3 2021 2021-11-03 C
SUPN Supernus Pharmaceuticals, Inc. Q3 2021 2021-11-03 C+
ZI ZoomInfo Technologies Inc. Q3 2021 2021-11-01 A
ASAN Asana, Inc. Q2 2022 2021-09-01 B+
CHWY Chewy, Inc. Q2 2021 2021-09-01 B
VVV Valvoline Inc. Q3 2021 2021-08-06 B+
TIGO Millicom International Cellular S.A. Q2 2021 2021-07-31 B+
SAP SAP SE Q2 2021 2021-07-21 B+
UPWK Upwork Inc. Q3 2018 2018-11-11 B+
MYO Myomo, Inc. Q3 2018 2018-11-05 C
CFG Citizens Financial Group, Inc. Q3 2018 2018-10-19 A
UAL United Airlines Holdings, Inc. Q3 2018 2018-10-17 B+
INSP Inspire Medical Systems, Inc. Q2 2018 2018-08-12 A
REI Ring Energy, Inc. Q2 2018 2018-08-09 B
GAIA Gaia, Inc. Q2 2018 2018-08-06 B+
RNG RingCentral, Inc. Q2 2018 2018-08-06 A
FRPT Freshpet, Inc. Q2 2018 2018-08-06 B+
TSLA Tesla, Inc. Q2 2018 2018-08-02 B
OOMA Ooma, Inc. Q1 2019 2018-05-22 A
ZG Zillow Group's Q1 2018 2018-05-08 C+
QLYS Qualys, Inc. Q1 2018 2018-05-02 B+
CPS Cooper-Standard Holdings Inc. Q1 2018 2018-05-02 B
VRTX Vertex Pharmaceuticals Incorporated Q1 2018 2018-04-26 C+
SYK Stryker Corporation Q1 2018 2018-04-26 B+
TNC Tennant Company Q4 2017 2018-02-22 B
TMUS T-Mobile US, Inc. Q4 2017 2018-02-09 B+
NICE NICE Ltd. Q3 2017 2017-11-04 A
SAMG Silvercrest Asset Management Group Inc. Q3 2017 2017-11-03 A
VC Visteon Corporation Q3 2017 2017-10-28 B+
PRO PROS Holdings, Inc. Q3 2017 2017-10-26 B+
SRPT Sarepta Therapeutics, Inc. Q3 2017 2017-10-26 C+
CAL Caleres, Inc. Q2 2017 2017-08-29 B+
LITE Lumentum Holdings Inc. Q4 2017 2017-08-09 B+
FRPT Freshpet, Inc. Q2 2017 2017-08-07 B+
INTU Intuit Inc. Q3 2017 2017-05-23 B+
ADAP Adaptimmune Therapeutics plc Q1 2017 2017-05-10 D
ISDR Issuer Direct Corporation Q1 2017 2017-05-06 C
XPO XPO Logistics, Inc. Q1 2017 2017-05-04 B
SRPT Sarepta Therapeutics, Inc. Q1 2017 2017-04-28 D
SAH Sonic Automotive, Inc. Q1 2017 2017-04-26 C
SYK Stryker Corporation Q4 2016 2017-01-24 C+
MCS The Marcus Corporation Q3 2016 2016-10-27 C+
GSK GSK plc Q3 2016 2016-10-26 B
VYGR Voyager Therapeutics, Inc. Q2 2016 2016-08-11 A
SQ Square's Q2 2016 2016-08-04 A
DGII Digi International Inc. Q3 2016 2016-07-28 B
PAR PAR Technology Corporation Q1 2016 2016-05-04 D
PM Philip Morris International Inc. Q1 2016 2016-04-19 B+

How the model reasoned

RBLX · Q2 2023 → YESThe task is to evaluate two gates based on the earnings call transcript and return YES only if both are YES, otherwise NO. YES The transcript shows a clear positive current development in advertising, where management's prepared remarks mention live ads, 200 activations, 19% of top 100 with ad units, and some demand exceeding supply. In the Q&A, they add fresh specifics like pricing strategy (gentle now, floating later), new ad unit types, 12% of top 100 using portals, demand in 17-24 female cohort, self-serve options, and brand volume challenges. These details are operational and additive across multiple exchanges, meeting GATE 1 criteria. For GATE 2, advertising is driven by Roblox's own creation and control: 200 activations, portal ad units, self-serve platform, and rollout execution. It's not reliant on external industry tailwinds but on their platform improvements and brand engagement. This satisfies the primary engine condition.
SG · Q3 2023 → YESThe task is to evaluate two gates based on the Sweetgreen earnings call transcript and return YES only if both gates are YES, otherwise NO. YES The transcript shows a clear positive current development in Infinite Kitchen, with management's Q&A responses adding substantial new operational details—such as first-unit performance, customer experience improvements, margin leverage, AUV targeting, retrofit opportunities, and throughput optimizations—that go beyond the prepared remarks' high-level plans. This satisfies Gate 1 criteria for additive, substantive detail across multiple exchanges. For Gate 2, Infinite Kitchen is a proprietary technology the company developed and controls, with momentum driven by its own execution, customer adoption, and operational refinements rather than external tailwinds, making it the primary engine.
ALKT · Q4 2023 → YESThe task is to evaluate two gates based on the earnings call transcript and return YES only if both are YES, otherwise NO. YES The transcript shows a clear positive current development in the bank's market progress and add-on sales momentum, with Q&A providing substantial new operational details like specific backlog numbers, implementation timelines, product adoption rates, and customer-specific challenges that go beyond the prepared remarks. For GATE 2, the primary engine is Alkami's own platform, cloud-native architecture, and execution on replacements of legacy systems, which would largely continue even if external conditions shifted, as the company is actively winning share through its controlled rollout and product improvements.

More from the question bank

Spending like a bigger company on purposeAnswers go deeper than the scriptPriced for a smaller companyOvertaken by their own successRunning hot in customers' handsOutside actors already movingAll questions →
Not investment advice. Artul.ai publishes AI-generated earnings-call quality grades and expected-volatility estimates — never buy or sell recommendations. We tested over 1,600 predictive hypotheses against 165,000 transcripts; the honest result, including what failed, is documented in our methodology.