Repeat pull from proven relationships plus room left: the installed base is expanding on its own initiative and is still
The model's full reasoning — Q2 2017 call → NOWe need to determine if management describes existing customers/accounts taking more on their own initiative, and that these relationships remain lightly penetrated. The transcript mentions: "we are encouraged by the pipeline of new business opportunities" but that's future. "We continue to develop meaningful opportunities across our CPG platform with both existing and new customers." That's pipeline. "we have experienced growth in the contract for organic ingredients ahead of prior year." That could be existing customers taking more? But it's not clear if it's expansion or just volume. Also "strong aseptic sales in the food service channel" - but that's a channel, not necessarily existing customers deepening. The question asks for real expansion behavior already occurring in the recent period across more than an isolated account, driven by counterparties' own choice after direct experience. The transcript mentions "premium juice sales increased 22% year-over-year" but that might be price or volume? Not clear. Also "strong juice sales" offset by contract expiration. No explicit statement about existing customers expanding their orders or taking more products. Management talks about building pipeline, but not about existing relationships deepening. They mention "we have experienced growth in the contract for organic ingredients ahead of prior year" - that could be existing customers buying more, but it's vague. Also "we recently launched a new line of nondairy products in a control brand format, specifically targeting food service operators" - that's new product, not existing customers expanding. The question requires both halves: (1) real expansion behavior already occurring, and (2) management conveying substantial room remains inside these same relationships. The transcript does not clearly describe existing customers taking more on their own initiative. It mentions "strong aseptic sales in the food service channel" but that's a channel, not specific existing customers. Also "we have experienced growth in the contract for organic ingredients" - that might be a contract, but not necessarily expansion. There's no mention of lightly penetrated relationships. Management talks about new opportunities, but not about existing relationships having more room. So answer NO.
| Ticker | Company | Call | Date | Call grade |
|---|---|---|---|---|
| PPC | Pilgrim's Pride Corporation | Q1 2024 | 2024-05-03 | A |
| DUOT | Duos Technologies Group, Inc. | Q4 2023 | 2024-04-01 | F |
| GIII | G-III Apparel Group, Ltd. | Q4 2024 | 2024-03-14 | C |
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| AFL | Aflac Incorporated | Q2 2023 | 2023-08-02 | C+ |
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| TOST | Toast, Inc. | Q4 2022 | 2023-02-16 | C+ |
| ADPT | Adaptive Biotechnologies Corporation | Q4 2022 | 2023-02-14 | C+ |
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| DM | Desktop Metal, Inc. | Q2 2022 | 2022-08-08 | F |
| FLYW | Flywire Corporation | Q1 2022 | 2022-05-14 | B+ |
| ZVIA | Zevia PBC | Q1 2022 | 2022-05-12 | B |
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| FAT | FAT Brands Inc. | Q4 2021 | 2022-03-21 | F |
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| CCOI | Cogent Communications Holdings, Inc. | Q2 2017 | 2017-08-03 | B |
| PTC | PTC Inc. | Q3 2017 | 2017-07-19 | C+ |
| WYY | WidePoint Corporation | Q3 2016 | 2016-11-09 | D |
| GOGO | Gogo Inc. | Q1 2016 | 2016-05-06 | C+ |
| WK | Workiva Inc. | Q4 2015 | 2016-03-01 | B |
ZVIA · Q1 2022 → YESThe question is about whether management describes existing customers taking more from the company on their own initiative, and that these relationships are still lightly penetrated. YES Management describes existing customers (households and Club channel buyers) already taking meaningfully more through velocity (51% of growth), higher buy rates (+9%), and heavier consumption in the food channel, while conveying that these relationships remain lightly penetrated with substantial room ahead (new households, expanded flavors, broader deployments). This is 100% present-tense, driven by counterparties’ own choice after direct experience, not price hikes or auto-renewal, and the expansion is already occurring across multiple accounts rather than isolated or projected.
PI · Q4 2022 → YESThe question is about whether management describes existing customers expanding their business with the company, and that these relationships are still lightly penetrated. YES The transcript shows management describing existing customers expanding through program expansions, broader deployments, and continued system deployments that are already occurring and expected to drive large volumes in 2023 and beyond, while conveying that these relationships remain lightly penetrated with substantial room for further growth in scope, sites, and usage.
CVS · Q1 2018 → YESThe question is about whether management describes existing customers taking more from the company on their own initiative, and that these relationships are still lightly penetrated. YES The transcript shows management describing existing partnerships (Optum and Cigna clients) already taking more programs through an uptick in CVS Pharmacy and MinuteClinic offerings, driven by the companies' own adoption after experience, with continued opportunities for 2020 and beyond indicating substantial room remains in those relationships.