Doing it our way now: the approach this company pioneered is becoming the market's way
The model's full reasoning — Q2 2022 call → NOWe need to determine if management describes that others are adopting/copying their way of doing things, and that this validates their position. The transcript: David Barrett talks about competitors (Brex) dropping customers and sending them to Expensify. He says competitors are retreating to enterprise, while Expensify has an SMB-focused model. He says "we see all these other card vendors out there... they acquired lens basically these cards and then have dropped tens of thousands of risky customers... Brex had to drop, I think something like 50,000 customers because they just weren’t making money off of them... Now they’ve actually started sending those customers over to us because we have a different business model." This indicates competitors are moving away from SMB, not adopting Expensify's model. He also says "they’ve actually retreated into the enterprise space" - that's not following Expensify. He says "we think that we’re the best positioned for the future" and "we’ve been investing in products" but no mention of others copying. He mentions ExpensiCon and market consensus, but that's about accounting firms championing Expensify, not copying. He says "we’re the only ones that can make these claims" - that's differentiation, not adoption. No mention of competitors adopting their model. The question asks if management describes that others are now following the company's lead. There is no such description. The only mention of competitors is them retreating, not copying. So answer NO.
| Ticker | Company | Call | Date | Call grade |
|---|---|---|---|---|
| AES | The AES Corporation | Q1 2024 | 2024-05-03 | C+ |
| GGR | Gogoro Inc. | Q1 2023 | 2023-05-11 | D |
| TGT | Target Corporation | Q4 2022 | 2023-02-28 | C |
| ORAN | Orange SA | Q2 2018 | 2018-07-26 | B |
| USFD | US Foods Holding Corp. | Q1 2018 | 2018-05-12 | C |
| SHOO | Steven Madden, Ltd. | Q1 2017 | 2017-04-21 | C |
AES · Q1 2024 → YESThe question is: Does management describe that the WAY THIS COMPANY DOES THINGS is NOW BEING ADOPTED, COPIED, OR MOVED TOWARD BY OTHERS IN ITS MARKET, so that the company's own way of doing things is ...
GGR · Q1 2023 → YESThe question is: Does management describe that the way this company does things is now being adopted, copied, or moved toward by others in its market?
TGT · Q4 2022 → YESThe question is: Does management describe that the way this company does things is now being adopted, copied, or moved toward by others in its market?