The waiting list has become the product

The waiting list has become the product: management describes demand accumulating faster than the company can absorb it,

Companies that answered YES

How the model reasoned

TT · Q3 2022 → YESThe question is: Does management convey that the company is currently ACCUMULATING A QUEUE OF DEMAND IT CANNOT YET SERVE, and that they're managing that queue rather than finding demand? YES The transcript shows management describing a backlog of $6.4 billion that is "unprecedented" and "at elevated levels well into 2023," with Americas commercial HVAC backlog "up more than 70% year-over-year and more than 200% of historical norms." They note bookings remain "extremely high" with book-to-bill over 100%, and they are "managing" the queue through extended lead times, sequencing applied jobs, and accelerating revenue recovery from disruptions. While supply chain tightness is mentioned as a constraint, the language centers on demand already arriving and stacking up faster than capacity allows, with management focusing on processing, prioritizing, and expanding throughput rather than primarily attracting new demand. This aligns with the criteria for YES. No, the answer is not NO, as the queue is not merely routine or one-time. The posture is that demand is pressing in, and they are actively managing it. So the answer is YES. (borderline due to emphasis on share gains and innovation, but backlog and lead times dominate the narrative) . The final answer is YES. I think it's clear from the transcript that they are managing the queue.

SLAB · Q3 2021 → YESThe question is: Does management convey that the company is currently accumulating a queue of demand it cannot yet serve, and spending energy managing that queue rather than finding demand? YES The transcript shows management describing a widening gap where demand is increasing faster than supply can be ramped up, with explicit references to demand continuing to arrive and outpace capacity ("demand is continuing to increase at a faster rate," "demand increase much faster than we're able to increment up supply," "those gaps continue to widen"). They are actively managing this by prioritizing supply increments, equitable pricing to preserve relationships, and expanding throughput through new capacity and protocols, rather than primarily seeking new demand. This aligns with the criteria for a queue of unserved demand already accumulating and pressing on the company's ability to absorb it. The constraint stems from their manufacturing capacity (wafer supply), but the directional pressure and management focus on absorbing/expanding that demand confirm the posture.

CLAR · Q1 2022 → YESThe question is: Does management convey that the company is currently ACCUMULATING A QUEUE OF DEMAND IT CANNOT YET SERVE, and that they're managing that queue rather than finding demand? YES Management repeatedly describes a backlog of committed demand (strong order books, $10M in-transit inventory, $270M inventory purchases aligned to bookings, strong bookings across segments) that supply-chain, logistics, and capacity constraints are preventing them from converting into revenue today. They explicitly frame their current effort as “hand 10 million in demand… stuck in transit,” “prioritizing ammo, OEM, green box,” “allocating inventory,” “increasing capacity,” and “being scrappy” to serve the queue that is already arriving faster than they can absorb it. While some constraints are on inputs they buy, the transcript centers on their own customers and orders waiting in line and on their active management of that queue rather than on attracting new demand. The posture is therefore affirmative under the stated criteria.

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