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 → NO我们根据提供的财报电话会议记录，判断管理层是否描述了现有客户/账户/合作伙伴正在主动采取更多行动（扩大规模、增加范围等），并且这些关系仍处于低渗透率，还有很大增长空间。 分析： 1. 管理层是否描述了现有客户正在主动扩大业务？在电话会议中，管理层多次提到“sales recapture”（销售回收），即从之前受影响的客户那里重新获得业务。例如：“sales recapture from previously affected customers in the United States was impacted by our delayed production output.” 以及“We still see an opportunity to recapture this business, but we expect that this will occur at a slower pace than previously anticipated.” 这暗示现有客户在供应恢复后可能会回来，但这是“预期”或“机会”，而不是已经发生的实际行为。管理层说“we are in the early stages of getting healthy on supply and then experiencing what that recapture rate looks like.” 这表明回收尚未大规模发生，只是早期阶段。没有明确描述现有客户已经主动扩大订单或增加范围。相反，增长主要归因于新产品（如Persona Partial Knee）和地区增长（亚太），但这些都是新客户或新产品，而非现有客户深化。 2. 管理层是否表示这些关系仍处于低渗透率？管理层提到“we expect to reach sufficient safety stock levels across our entire portfolio as we exit 2017. Clearing back orders allows us to more fully meet the existing customer demand and we expect that achieving sufficient levels of safety stock will enable us to return to greater sales offense and bring on new customers.” 这里提到“bring on new customers”是重点，而不是现有客户扩大。关于现有客户，管理层说“we have clear line of sight to the surgeon level in terms of where we have been gaining business, where we have been losing business” 但这是关于市场份额的得失，而非现有客户深化。 3. 是否有任何描述现有客户主动扩大规模？没有。管理层提到“recapture”是希望恢复失去的业务，但这是恢复，不是扩大。而且管理层说“some surgeons are waiting to move their business back to us until they see a full product offering” 这表明客户在等待，尚未行动。 4. 是否有“lightly penetrated”的表述？没有。管理层没有说现有客户只用了很小一部分潜力。 因此，答案应为NO。因为管理层没有描述现有客户已经主动扩大业务，而是将增长归因于新客户和产品，且回收是预期的而非已发生的。 所以回答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 |
| KOPN | Kopin Corporation | Q4 2023 | 2024-03-14 | C+ |
| DASH | DoorDash, Inc. | Q3 2023 | 2023-11-01 | C+ |
| SPT | Sprout Social, Inc. | Q2 2023 | 2023-08-04 | B+ |
| AFL | Aflac Incorporated | Q2 2023 | 2023-08-02 | C+ |
| CARS | Cars.com Inc. | Q1 2023 | 2023-05-06 | B |
| CALX | Calix, Inc. | Q1 2023 | 2023-04-20 | C+ |
| TOST | Toast, Inc. | Q4 2022 | 2023-02-16 | C+ |
| ADPT | Adaptive Biotechnologies Corporation | Q4 2022 | 2023-02-14 | C+ |
| PI | Impinj, Inc. | Q4 2022 | 2023-02-08 | B+ |
| 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 |
| FARM | Farmer Bros. Co. | Q3 2022 | 2022-05-07 | D |
| FAT | FAT Brands Inc. | Q4 2021 | 2022-03-21 | F |
| SOPH | SOPHiA GENETICS SA | Q4 2021 | 2022-03-15 | C |
| CYBR | CyberArk Software Ltd. | Q3 2021 | 2021-11-04 | B+ |
| ASAN | Asana, Inc. | Q2 2022 | 2021-09-01 | B+ |
| TENB | Tenable Holdings, Inc. | Q2 2021 | 2021-07-27 | A |
| DGX | Quest Diagnostics Incorporated | Q2 2021 | 2021-07-22 | B+ |
| ADSK | Autodesk, Inc. | Q3 2019 | 2018-11-20 | A |
| YUM | Yum! Brands, Inc. | Q2 2018 | 2018-08-02 | C |
| ORAN | Orange SA | Q2 2018 | 2018-07-26 | B |
| MKC | McCormick & Company, Incorporated | Q2 2018 | 2018-06-28 | C+ |
| CVS | CVS Health Corporation | Q1 2018 | 2018-05-02 | B+ |
| BCOV | Brightcove Inc. | Q1 2018 | 2018-04-26 | B+ |
| ILMN | Illumina, Inc. | Q1 2018 | 2018-04-24 | A |
| ATI | Allegheny Technologies Incorporated | Q1 2018 | 2018-04-24 | B |
| UPLD | Upland Software, Inc. | Q4 2017 | 2018-03-08 | C+ |
| HOLX | Hologic, Inc. | Q4 2017 | 2017-11-08 | D |
| 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.