Two-sided intensity: both new counterparties arriving and existing ones enlarging in the same recent period
The model's full reasoning — Q4 2022 call → NOWe need to determine if management describes BOTH (1) new paying counterparties arriving (fresh customers, accounts, partners, programs that actually signed/ordered/began transacting in recent period) AND (2) existing counterparties enlarging what they take (accounts/relationships already had that visibly stepped up orders, scope, volumes, sites, usage, commitments in same recent period) — with management presenting this two-sided build as observed current pattern meaningful to where company is heading. We need to scan transcript for evidence of both. Look for mentions of new customers, accounts, partners, programs that actually began transacting. Also existing relationships growing. Examples: Ulta Beauty partnership? It says "sales from Ulta Beauty at Target were more than 4x higher than in 2021, and this growth was almost entirely incremental." That is existing partnership growing. But is that new counterparties? Ulta was existing partner? They are expanding locations. That's expansion of existing relationship. Target Circle members: "over 100 million members and growing" - that's existing program? But new users? It says "user base has doubled" since 2019. That could be new members arriving. But is that a paying counterparty? Target Circle is loyalty program, not necessarily paying. But it's engagement. Roundel: "grew by more than 60% over the past two years" - that's existing business growing. But new advertisers? Not specified. Drive-Up returns: new service rolled out - that's a new program for guests, but not necessarily new accounts. What about new store openings? "plan to open about 20 stores this year" - that's future. We need to find in the recent period (Q4 2022, full year 2022) actual events of new counterparties arriving and existing ones growing. Look for phrases like "new guests" "new partners" "launched" "began" "signed" etc. Christine mentions "we launched Future Collective" "launched a new line with Tabitha Brown" - that's new product lines, not paying counterparties like customers or partners. Also "partnerships with Levi's, Apple, Disney, Ulta Beauty" - existing partnerships. "Starbucks at Drive-Up" started testing last year - that's new capability but not new counterparty. "Ulta Beauty at Target locations" - they are opening more locations, that's expansion of existing partnership.
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PFIE · Q1 2023 → YESThe question is about whether management describes intensification from BOTH new paying counterparties AND existing ones enlarging what they take, in the recent period, as observed facts. YES Management describes both new arrivals ("new customers," "new opportunities," "several project opportunities," "notable customers" including specific ones like Equitrans Midstream and Enterprise Products) and existing-customer expansion ("repeat orders," "repeat business," "repeat orders from one of the United States’ largest producers," " 85,000 burner management solutions," "large uptick... on retrofits") as already-completed facts in the recent period. They present the combination—widening the customer base while deepening relationships—as the current observed pattern driving the business forward.
EPAM · Q4 2017 → YESThe question is about whether management describes that in the recent period the company's business intensified from BOTH directions at once: new paying counterparties arrived AND existing ones enlarg...YES Management describes both sides occurring together in the recent period: new engagements with clients (including specific examples like the European multinational and Global Health Services Company that started less than 12 months ago) alongside growth within the top 20 existing accounts (more than 18% year-over-year) and even stronger growth outside those 20 (34%). They frame this as an observed pattern of widening and deepening the business now, with continued diversification and expansion across both new and existing relationships.
UNH · Q4 2017 → YESThe question is about whether management describes that in the recent period the company's business intensified from BOTH directions at once: new paying counterparties arrived AND existing ones enlarg...YES Management describes both new paying counterparties (e.g., new states like West Virginia, hospitals using Rally, healthcare transformation alliance with 10 companies, acquisitions like Banmedica and DaVita) and existing ones enlarging (e.g., serving nearly 1 million more seniors in Medicare, 465,000 more in commercial group, strong growth with existing client base for PBM, doubled Rally IDs, 7% same-store growth for SCA, highest Q4 script growth).