Position doing the winning: current wins credited to a standing already held, with more arriving over it
The model's full reasoning — Q2 2018 call → NOWe need to determine if management explains current business wins as flowing from a standing the company already holds, and conveys that further business is arriving over that same standing without a proportional new push. Key points from transcript: - Bill Amelio mentions "demand and creation metrics continue to improve as design registrations were up both sequentially and year-over-year, and the cumulative design registration have now offset this August we loss due to supplier program changes in a relatively short period of time." This suggests that design registrations (a standing? Actually design registrations are a pipeline metric, not a standing. They are efforts to win future business. The standing would be the existing relationships, line card, etc.) - He also says "Our growth initiative continues to gain traction is evidenced by an improvement in sales process metrics this quarter." That's effort. - Later, when asked about supplier dynamics, Bill says "2017 marks the end of the TI model change... we don't see other suppliers following through. As a matter fact with some of the other changes we have had to our line card, we see other suppliers really doubling down with us on demand generation registration to design wins I think we noted in the script. Actually where we have had model changes or line card changes, we replaced all those sockets, and the number sockets in registration and design wins now we know the gestation period of taking of anywhere from 8 months to 18 months for us to see that revenue come back into play." This indicates that they are replacing lost sockets with new design registrations, but that's effort, not a standing. The standing would be their existing line card, customer relationships, etc. - Phil Gallagher says "we've added six new franchises in electronics component this quarter and we experienced this regional coverage of additional four suppliers and at Premier Farnell we added nine new franchises." That's building new standing, not using existing. - When asked about current wins, they talk about growth initiatives, sales process metrics, etc. They don't attribute current wins to a pre-existing standing like an installed base or network. They talk about replacing sockets with new design registrations, which is a forward-looking effort.
| Ticker | Company | Call | Date | Call grade |
|---|---|---|---|---|
| NICE | NICE Ltd. | Q4 2023 | 2024-02-22 | B+ |
| ACGL | Arch Capital Group Ltd. | Q4 2023 | 2024-02-15 | B+ |
| CHT | Chunghwa Telecom Co., Ltd. | Q4 2023 | 2024-01-30 | C |
| IMAX | IMAX Corporation | Q2 2023 | 2023-07-26 | B+ |
| SPIR | Spire Global, Inc. | Q1 2023 | 2023-05-10 | B |
| FTHM | Fathom Holdings, Inc. | Q1 2023 | 2023-05-10 | C |
| BXSL | Blackstone Secured Lending Fund | Q1 2023 | 2023-05-10 | A |
| POOL | Pool Corporation | Q4 2022 | 2023-02-16 | C+ |
| EXFY | Expensify, Inc. | Q2 2022 | 2022-08-12 | D |
| HLIO | Helios Technologies, Inc. | Q1 2022 | 2022-05-10 | C |
| BXP | Boston Properties, Inc. | Q1 2022 | 2022-05-03 | A |
| GFS | GLOBALFOUNDRIES Inc. | Q3 2021 | 2021-11-30 | A |
| WMB | The Williams Companies, Inc. | Q3 2021 | 2021-11-02 | B |
| PRIM | Primoris Services Corporation | Q2 2018 | 2018-08-11 | C+ |
| ORAN | Orange SA | Q2 2018 | 2018-07-26 | B |
| ROK | Rockwell Automation, Inc. | Q4 2017 | 2017-11-08 | C |
| MKTX | MarketAxess Holdings Inc. | Q3 2017 | 2017-10-25 | C+ |
| LEA | Lear Corporation | Q2 2017 | 2017-07-26 | B+ |
| HPP | Hudson Pacific Properties, Inc. | Q4 2015 | 2016-02-25 | C |
EXFY · Q2 2022 → YESThe question is about whether management credits a standing the company already holds as the reason they're currently winning business, and that more is arriving over that same standing without a new ...YES The transcript shows management crediting their pre-existing bottom-up adoption model and differentiated platform position (already in place since day one, with SMB focus and unique acquisition mechanics) as the operative cause of current wins. This is evident in statements like the model being "overwhelmingly driving the success of our business" and competitors routing customers to them due to the same standing. Further business is conveyed as already arriving through the same position, with trends continuing and the best quarter ever achieved on that foundation, even as they note additional investments in sales and conferences.
FTHM · Q1 2023 → YESThe question is about whether management credits a standing the company already holds as the reason they're currently winning business, and if more business is arriving over that same standing without...YES The transcript shows management crediting the company's pre-existing low-cost flat-fee model, owned technology, and culture-driven retention as the durable standing already in place that is generating current wins (market share gains, 18% agent growth, 60% of March referrals, and transaction resilience vs. peers). They describe these as flowing directly from that standing rather than fresh effort, while conveying continuation through the referral program's ongoing positive impact and the model's ability to draw more agents without proportional new marketing push.
ORAN · Q2 2018 → YESThe question is about whether management credits a standing the company already holds as the reason they're currently winning business, and that more is arriving over that same standing without a new ...YES The transcript shows management repeatedly tying current wins (net adds, ARPU growth, EBITDA expansion) directly to a pre-existing durable position: the #1 convergent operator status already achieved through prior leadership in fixed/mobile networks and fiber rollout, plus the installed base of 10.