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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

WhiteHorse Finance, Inc. (WHF) — this company's answers

NO on the Q1 2022 call 2022-05-10 B+
The model's full reasoning — Q1 2022 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后期或之后,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,管理层提到了几个关键点: - 第一季度资本部署创纪录,但这是在整个季度内发生的。 - 在季度后,公司收到了额外的3笔全额还款,总计4500万美元("subsequent to quarter end")。 - 在第二季度初,公司关闭了2笔交易,并有超过8笔新的授权交易("Thus far into Q2")。 - 管理层提到,由于产能限制,第一季度拒绝了4个机会。 - 关于JV,管理层提到在Q1初关闭了额外的2500万美元承诺,但大部分产能已被使用。 然而,管理层并没有明确说这些后期事件是"最重要的积极发展",也没有说报告结果几乎没有反映这些事件。相反,管理层强调了整个季度的强劲表现,并提到了季度后的还款和管道,但并没有将报告结果与这些后期事件进行对比,也没有说这些事件是报告数字遗漏的。 管理层确实提到了"subsequent to quarter end"的还款,但这是作为常规更新,并没有强调这些事件对报告结果的影响。此外,管理层提到Q2的交易和管道,但这是前瞻性信息,不是报告期内的。 因此,没有证据表明管理层将后期事件视为报告结果的主要驱动力,也没有说报告结果几乎没有反映这些事件。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.