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After the books closed

After the books closed: the quarter's biggest news happened too late to be in the numbers

Calls Tested
497
Answered YES
13
Hit Rate
2.6%
rare by design

Biogen Inc. (BIIB) — this company's answers

NO on the Q2 2017 call 2017-07-25 B
The model's full reasoning — Q2 2017 call → NO我们根据提供的财报电话会议记录,判断管理层是否报告了最重要的积极发展发生在报告期结束或之后,且这些发展对报告结果影响很小或没有影响,管理层自己强调了这种时间安排。 在电话会议中,管理层提到了多个积极发展,但我们需要寻找是否有具体事件发生在季度末或之后,且管理层明确表示这些事件对报告期结果影响很小或没有影响,并认为它们对公司的未来轨迹很重要。 检查内容: - 管理层提到了“在第二季度,我们完成了与BMS的许可协议,并在第二季度末或之后取得了进展”,但具体时间点? - 关于SPINRAZA的进展,管理层提到“在第二季度,我们看到了美国市场的显著增长”,但这是季度内的。 - 关于aducanumab,管理层提到“在第二季度,我们增加了超过400名患者”,这是季度内的。 - 关于BIIB093,管理层说“在第二季度,我们收购了Remedy Pharmaceuticals的资产”,这是季度内的。 - 关于价值合同,管理层说“在7月,我们执行了四项价值合同”,这发生在季度结束后(7月是第三季度),但管理层在电话会议中提到了这一点,并说“我们正在试点”,但这是否是“最重要的积极发展”? 关键点:管理层在电话会议中提到了“在7月,我们执行了四项价值合同”,这发生在第二季度结束后。但管理层是否强调这些合同对报告结果没有影响,并认为它们很重要?管理层说“我们正在试点”,并讨论了它们的重要性,但并没有明确说报告结果没有反映这些合同。此外,这些合同是试点,规模可能不大。 另一个可能:关于SPINRAZA的批准,管理层提到“最近在欧洲、日本和加拿大获得批准”,这些批准发生在第二季度或之后?具体时间:欧洲批准是在6月?日本和加拿大?但管理层说“我们正在准备在这些市场的推出”,这些是未来的。 管理层还提到“在第二季度,我们记录了与BMS许可协议相关的费用”,这是季度内的。 我们需要寻找管理层明确说“这些事件发生在季度末或之后,因此报告结果没有反映它们”的表述。在电话会议中,管理层没有明确说“由于这些事件发生在季度末,我们的结果没有反映它们”。他们只是提到了这些事件,但没有强调时间上的滞后。 例如,关于价值合同,管理层说“在7月,我们执行了四项价值合同”,但这是季度后的事件,管理层没有说这些合同对第二季度结果没有影响,而是说“我们正在试点”,并讨论其意义。但这是否是“最重要的积极发展”?可能不是,因为还有其他发展。 另一个可能:关于BIIB092的许可协议,管理层说“该交易在第二季度完成”,这是季度内的。 关于aducanumab的协议修改,管理层说“我们最近提交了协议修正案”,但这是季度内的。 因此,没有明确的管理层表述表明最重要的积极发展发生在季度末或之后,且报告结果没有反映它们。管理层没有强调时间上的滞后。 所以答案应为NO。

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Show the exact prompt the model was given
Using ONLY the supplied earnings call transcript and no outside information: On this call, does management report that the MOST IMPORTANT POSITIVE DEVELOPMENTS of the period happened SO LATE IN THE REPORTED PERIOD, OR SHORTLY AFTER IT ENDED, that the results being presented contain little or none of their effect — with management itself marking the timing? Answer YES when management's own words convey, in whatever form fits the business, ONE coherent situation with BOTH halves present: (1) LATE-BREAKING, CONCRETE POSITIVE EVENTS. Management points to specific favorable developments that actually occurred near the end of the reported period or in the weeks since it closed — real events, not hopes or pipeline. The events may take whatever form fits the industry: a contract, order, customer, or program signed or won late in the period or after quarter-end; a facility, location, product, or service that opened, launched, or shipped its first volumes in the final stretch or just afterward; an approval, certification, or qualification obtained late that has already begun converting into business; a large customer that went live, began ordering, or expanded right at the close or since; an acquisition or capability completed at or after period-end that is now operating. What matters is that management itself anchors the timing — saying in substance 'late in the quarter,' 'in the final weeks,' 'at the very end of the period,' 'since quarter-end,' 'subsequent to the close,' 'just after the period ended,' or equivalent — for events that are described as done or now happening, not merely expected. (2) MANAGEMENT TREATS THEM AS THE REAL STORY THE NUMBERS MISSED. Management conveys, directly or plainly in substance, that because of this timing the reported results reflect little or none of these developments — and treats them as consequential to where the company is now heading, for example by discussing how they will contribute in coming periods, how the company is now delivering or ramping them, or by contrasting the period's reported figures with the level of business the company is already doing as it exits. The late events should be presented as meaningful relative to the company's current size — capable of changing its trajectory — rather than as routine items in a long list. Answer NO if the period's positive developments are described as spread across the quarter in the ordinary way, with no emphasis on late or post-period timing. NO if the late-dated items are only letters of intent, negotiations, pipeline, expected signings, or events still contingent on approvals, financing, or decisions not yet made. NO if the late events are routine in scale for this company — the normal cadence of wins or openings it always reports — with no sense that they change its level of business. NO if management mentions timing only as an excuse for weak results without concrete late-arriving positives now in hand. NO if the post-period mention is a boilerplate subsequent-events disclosure that management does not connect to the company's trajectory. NO if the timing framing appears only in an analyst's question or model that management does not itself affirm. Use only the supplied transcript. Answer only YES or NO.

Companies that answered YES

TickerCompanyCallDateCall grade
ASM Avino Silver & Gold Mines Ltd. Q4 2023 2024-03-21 C+
KOPN Kopin Corporation Q4 2023 2024-03-14 C+
SCPH scPharmaceuticals Inc. Q3 2023 2023-11-08 B
NBTX Nanobiotix S.A. Q2 2023 2023-09-27 D
SWBI Smith & Wesson Brands, Inc. Q1 2023 2022-09-08 C+
YMM Full Truck Alliance Co. Ltd. Q2 2022 2022-08-25 C+
VNRX VolitionRx Limited Q1 2022 2022-05-12 F
OPK OPKO Health, Inc. Q1 2022 2022-05-09 D
BFIN BankFinancial Corporation Q1 2022 2022-05-06 A
RNW ReNew Energy Global Plc Q2 2022 2021-11-18 C
BFI BurgerFi International, Inc. Q3 2021 2021-11-12 C
LIND Lindblad Expeditions Holdings, Inc. Q2 2017 2017-08-06 C
PLAB Photronics, Inc. Q2 2017 2017-05-17 C+

How the model reasoned

OPK · Q1 2022 → YESThe question is: Does management report that the MOST IMPORTANT POSITIVE DEVELOPMENTS of the period happened SO LATE IN THE REPORTED PERIOD, OR SHORTLY AFTER IT ENDED, that the results being presented...YES The transcript shows management treating the ModeX acquisition (announced and closed on the call date, May 9) and the Sema4/GeneDx deal (closed April 29) as major positive developments that occurred after the Q1 period ended. These are framed as key steps toward unlocking value and are highlighted as the "exciting announcement" that changed the call format.
RNW · Q2 2022 → YESThe question is: Does management report that the MOST IMPORTANT POSITIVE DEVELOPMENTS of the period happened SO LATE IN THE REPORTED PERIOD, OR SHORTLY AFTER IT ENDED, that the results being presented...YES The transcript shows management explicitly marking the timing of key positive developments: 400 MW commissioned "since the end of the quarter" (bringing operating capacity to 7 GW today, with another 400 MW scheduled "over the next couple of weeks"), plus the completed Telangana acquisition adding 260 MW.
ASM · Q4 2023 → YESThe question is: Does management report that the MOST IMPORTANT POSITIVE DEVELOPMENTS of the period happened SO LATE IN THE REPORTED PERIOD, OR SHORTLY AFTER IT ENDED, that the results being presented...

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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.