Running hot in customers' hands: existing deployments are being used harder than they were sized for
The model's full reasoning — Q1 2024 call → NOWe need to determine if management describes existing customers using the product more intensively than originally planned, with observable current usage behavior. Key points from transcript: - Bill Stone mentions "revenue per device or RPD in the U.S., which continues to grow and set an all-time high in the June quarter." Over five years, RPD increased from $2 to $6. This indicates more revenue per device, which could be interpreted as heavier usage or monetization per existing device. But is this about usage intensity? It's about revenue per device, which could be due to more products, more demand, etc. He says "strong demand from our platform both from advertisers and new products contributing more revenue to each device." This suggests existing devices are generating more revenue, but is that "usage" by customers? The customers here are advertisers and publishers? Actually, the company's customers are operators, OEMs, advertisers, publishers. The "existing customers" could be the device owners? But the context is about RPD increasing, which is a measure of monetization per device. This could be seen as existing base (devices) being used more intensively in terms of ad impressions, installs, etc. However, is this described as "ahead of what the company or customer originally planned"? Not explicitly. It's just growth in RPD over time. - He also mentions "expanding global demand to our U.S. device supply" and "positive movement on willingness of U.S. supply partners to soften positions on some popular Chinese applications" which increases demand. That's about more demand, not necessarily usage intensity. - For SingleTap, he mentions "we have now generated our first revenues with TikTok, who is running SingleTap campaigns for their advertisers" and "launching this quarter with LinkedIn" and "expect to begin a revenue generating pilot with another large social media company." These are new customers or new launches, not existing customers using more. - For AGP, he says "sequential growth" and "improved ECPM rates" and "brand business show double-digit sequential growth" - that's growth, but not necessarily about usage intensity beyond normal growth. - Barrett mentions "revenue per device" as well.
| Ticker | Company | Call | Date | Call grade |
|---|---|---|---|---|
| APYX | Apyx Medical Corporation | Q4 2023 | 2024-03-21 | C |
| HP | Helmerich & Payne, Inc. | Q1 2024 | 2024-01-30 | C |
| SCPH | scPharmaceuticals Inc. | Q3 2023 | 2023-11-08 | B |
| DASH | DoorDash, Inc. | Q3 2023 | 2023-11-01 | C+ |
| ADPT | Adaptive Biotechnologies Corporation | Q4 2022 | 2023-02-14 | C+ |
| UPWK | Upwork Inc. | Q2 2022 | 2022-07-27 | C+ |
| FLYW | Flywire Corporation | Q1 2022 | 2022-05-14 | B+ |
| SOPH | SOPHiA GENETICS SA | Q4 2021 | 2022-03-15 | C |
| RELY | Remitly Global, Inc. | Q4 2021 | 2022-03-02 | B |
| ASAN | Asana, Inc. | Q2 2022 | 2021-09-01 | B+ |
| TJX | The TJX Companies, Inc. | Q2 2021 | 2021-08-18 | C |
| WES | Western Midstream Partners, LP | Q3 2018 | 2018-10-31 | D |
| HOLX | Hologic, Inc. | Q4 2017 | 2017-11-08 | D |
| BCE | BCE Inc. | Q2 2017 | 2017-08-05 | B+ |
| CCOI | Cogent Communications Holdings, Inc. | Q2 2017 | 2017-08-03 | B |
| GEO | The GEO Group, Inc. | Q2 2016 | 2016-08-02 | B+ |
TJX · Q2 2021 → YESThe question is about whether management describes that the company's product, service, capacity, or offering — already deployed with existing customers — is being used more intensively than originall...
WES · Q3 2018 → YESThe question is about whether management describes that the company's product, service, capacity, or offering — already deployed with existing customers — is being used more intensively than originall...
BCE · Q2 2017 → YESThe question is about whether management describes that the company's product, service, capacity, or offering — already deployed with existing customers — is being used more intensively than originall...