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2877925a4ebb290d6d7a90d23a2489e1 | Got it. Thanks for all the details. And then also on your titanium and titanium-based alloy products, it looked like that revenue stream sequentially declined, which is likely from the widebody frame destocking. But I just want to make sure if that's all it is, because it looks like it went up sequentially in the previ... | Yes. Good question, Paretosh. There's -- obviously, the widebody issue and I'd say, general destocking in aerospace and airframe. The other thing that's going on, and we talked about it briefly is the armor plate transition. So armor is going to be down a little bit only because of a transition in major programs. We ex... | direct | [
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b103fc4f77e35f0f5bd0fb86590460ad | Hey, guys. Thanks for taking the questions. Maybe one on PRIME. You know, just trying to figure out, just can you talk about how much you view this as a catalyst for payers coming on board. You know, you actually are having ongoing conversations with payers today. What's the willingness to reimburse before seeing this ... | Yeah. Thank you, Patrick. We view PRIME as being additive to the large body of evidence, health, economic, and political evidence that have already been reported out. Again, the purpose is to optimize -- give people the ways of optimizing the rollout of PreTRM testing. There's no question, there are a number of payers ... | intermediate | [
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54604f32cadbe9844237f68c1e57d545 | OK. That's helpful. And then maybe one just on the guide Jay gave there on the under 500 grand. I mean [Technical difficulty] Can you guys just give a little more color on, I guess, what you're seeing, what has changed since some of the conversations we had a couple of quarters ago in terms of the expectations for '22.... | Yeah. As I mentioned in my remarks, the -- there were two very serious waves of COVID that occurred that were entirely unanticipated in the early part of 2021. That was one factor that limited access to physician offices. It changed the way that obstetrics was practiced. There were a lot of things that happened as a re... | direct | [
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a89c4e2e1283ace6b60402710d6faf05 | OK. And then, Greg, picking up on your last point there, I mean, on the sales force, has the trajectory of the revenue shift changed your plan in terms of sales force hiring, how you're thinking about '22? In terms of hiring even in '23 given, again, the revenue being a bit lower, how are you thinking about kind of bui... | Yeah, the way we think about it is the -- at the end of '21, our sales headcount was approximately 30. What we're going to do as a company is monitor the adoption, monitor payment by insurance companies, and we will judiciously adjust our sales force depending on market conditions. That's what we plan on doing. By the ... | intermediate | [
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3a9a9370e57aac939a57276377cf68b0 | Hi, this is Dustin on for Brian. First question, I'm wondering about the contract minimums. I know you just mentioned that you got your first minimums recently, but we're wondering just how those should roll throughout '22 and maybe the scale of those, in addition to how they compare to your original expectations at th... | Yeah, sure. We haven't really spoken in detail about the contract minimums, and we really don't intend to do so. But we have received the minimums that we are entitled to and expect to receive the minimums going forward. So, I think the -- you know, everything in accordance with the contracts are moving as expected. | fully_evasive | [
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05097e6943379cf6d2076aaa4dbd98f1 | Got it. And I know you gave some color on the recent trends you're seeing with the test, but we're wondering what you're hearing from your sales force. What are clinicians saying about the tests? Are they positive on it? And are there any reservations that they have that are maybe slowing down the pace of adoption righ... | Yeah, what the sales force is hearing from physicians includes the following. Certainly, doctors are confirming that there's an unmet need. They're reaffirming that there's a significant clinical gap in how to manage the challenge of preterm birth. They acknowledge that a solution like PreTRM is something that's really... | intermediate | [
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0e08c9b4b7cba408142c83f5463545da | OK. Thank you. And then one more for us. You recently showed data on the first pipeline product for preeclampsia. Just wondering how this data came in relative to your expectations. What this means for clinical adoption? And can you give us an update on the other pipeline products that are in development? Thank you. | Sure. Yeah, we're very excited about the preeclampsia data that were presented at the Society for Reproductive Investigation. We are in the process of conducting a complete validation of the preeclampsia prediction. And with that, we see a complement to the kind of information we're adding. It goes back to what our str... | intermediate | [
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9e0acf46bb44aa0fa2fa4386a030de7f | Hey, thanks for taking our questions. Greg, you mentioned you've made some adjustments to sales messaging and also that, you know, one of your goals for early commercialization are kind of, you know, settling on, you know, best practices that then can be, you know, rolled out across the larger sales force. You know, wh... | Yeah. What we've done is we -- as you look at the time period between when a patient first hears about the test and the time that the blood is drawn, we shortened that period. It makes it simpler for the patient to get in and see the doctor and actually have a top of mind when she visits the doctor. So, that's been one... | direct | [
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118d42f8847a83c543ef2046c2e9bad5 | Great. As a follow-up, I think you highlighted, you know, driving patient interest or patient awareness in PreTRM is kind of, you know, one component of the strategy. How should we think about, you know, relatively capital-efficient ways to just sort of, you know, generally, you know, motivate the pregnant mother who's... | Yeah. There are a number of tools that can be used. We are ramping up our voice in social media networks, making this information available to more women. We have planned campaigns both on the physicians' side and the patients' side to go out and raise awareness. There are ways to do that very effectively. The -- we'll... | intermediate | [
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051c0fe53b6f36407a504441313c97dc | Hi, this is [Inaudible] on for Dan here. Here's a question on the kind of readouts for PRIME. So, I mean, do you have any kind of clear metrics in mind, you know, within your co-primary milestones and kind of what they look like? | Yeah, the PRIME study -- the primary outcomes of the PRIME study are a decrease in the length of stay in the hospital and improvement in neonatal health as measured by standard indices of how healthy the babies are when they're born. As was demonstrated in the Prevent PTB study, we showed more than a 70% reduction in p... | direct | [
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38cf50871d575e049598eac464fc9d3e | Correct. Great. And then just to kind of follow up on the strategy you may have with PreTRM, so you are -- you have mentioned a bit of a pivot toward looking at underserved populations. I'm was wondering if you could give some more color on what that looks like and how you're kind of divvying your sales force along tho... | Yeah. It's a well-known fact that African American women have preterm birth rates that are anywhere from 50% to as much as almost double the preterm birth rates seen in non-African American populations. Clearly, there are areas in the U.S. where the underserved populations are burdened disproportionately by preterm del... | intermediate | [
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9a30c1de33234d6dcae3e1632104c8bc | Thanks. And then just one quick follow-up, if I could. So, I think you previously mentioned there could potentially be interim PRIME data by Q4 this year. Is that still a potential possibility? And if not, kind of where about on '23 do you see it landing? Thanks. | Yeah. Unfortunately, the COVID pandemic slowed down the development of getting the readout completed this year. We believe we will have the requisite number of enrolled patients in the PRIME study, 2,800, so that the readout can occur in 2023. And we're looking at having the readout of the PRIME study taking place in 2... | intermediate | [
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bdb51b3a7b4752b29539b3496bd2240c | Good morning, guys. Congratulations, Jeff on a terrific quarter and just really good cost management and improved customer churn. This is just terrific results. I don't have a whole lot. I guess just two questions; one, if you or Rich could update us on the stock repurchase program in terms of how much is still availab... | Sure, I'll take the first part of that question. If you look in the 10-Q you can see that we did exhaust the number of units that are available to be repurchased in the public market and the Board's going to be discussing that and they'll have to come to a decision on whether to proceed with the program going forward b... | direct | [
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458ac19828a4f783ff9b1204d1839fe7 | Yeah, hi, thanks. I had the same question on the acquisition candidates and I appreciate that answer. Just one more question, your receivables book obviously grows during the heating season and I'm curious if you experienced -- since we are still in the heating season any increase in slow payer or bad debt, etc from yo... | It's a very good question. If you look at our receivables this year versus last year, point to point at March, I believe we're down about $100 million. So we have less the collect if you will, at this point in time last year. March was warm, which resulted in the pay-off on the weather hedge and no matter how you look ... | direct | [
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61405fc0b8af2f69af691fe5dc1c61e3 | Wonder if we could just start on some of the, I guess, sort of inflationary pressures that you think are impacting your customers, obviously, higher fuel prices. What are you seeing -- and I know you said traffic is down versus 2019. But what are you seeing in store traffic trends lately? And does the UBT and ADS indic... | Yes, Jeff. So relative to last year, traffic was actually up in the first quarter but it has slipped to negative in May. So our total traffic was up 6% in Q1. It's down 5.5% so far in May.
So that's been a little bit of a flip there. The average sale has been higher. The aggregate number of transactions has been lower... | direct | [
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81e4624b1086d5f0f3a96a71429ad37a | And then, just wondering about pricing, I guess, maybe you can just touch a little bit more on what you're seeing in terms of what the brands are doing with raising prices for you? Maybe touch on private label. I don't know, any advantages to private label or your manufacturers or your sources raising prices for you? A... | The price increases, Jeff, are coming from both branded and private label merchandise. I would say there's no greater than 5% across the board. And we're adjusting pricing as we feel the need to and maintaining our margins. So I think the bigger challenge for everybody has been just the inconsistency of the supply chai... | intermediate | [
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b929170a39dae5b09d4dbccf30e99513 | So, I mean, I guess, I would sort of summarize that by saying that if you adjust for the things that you really can't control, right, I mean, some of those -- a bunch of things you just mentioned are really out of your control. You just sort of have to do -- you have to pay what you have to pay people and insurance cos... | That's right. Yes. You are right. That's very accurate.
Yes, I'd agree with that with that wholeheartedly. Store payroll, for example, that is our biggest dollar increase in SG&A and is going to be all year. We looked at some data points for the first quarter. Our sales per hour are actually higher than they were in 2... | direct | [
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56ddbc6c728026a1683c956f84e99077 | OK. Just one more quick one, and then I'll take the rest off-line. But I was just curious, I know, obviously, with disruption in supply chain and some things getting stuck at the ports or stuck to go on not even on trucks or in trucks or what have you, are there -- is there a merchandise coming in at times that is comi... | Yes.
Yes. Yes. We won't take it if it's that late. And if it's within season, yes, we have. And we've done some of that for sure. So we adjust accordingly. But --
Yes, that's where the supply chain delays, they're tough to be able to effectively manage your inventories the way we normally would, right? You've followe... | direct | [
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e7677a0a06966a18c6718494ff1ecd4e | How would you compare the general competitive environment, I guess, in terms of markdowns as you observe it in the broader environment? | We're not seeing any competitive pricing pressure at this point. We're expecting it in certain categories, but like swim and more seasonal goods and shorts. But I don't think -- we're not anticipating we have to do anything unusual from what we normally do. And the pricing -- generally, the margin should be decent.
Ye... | direct | [
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587e7bdb95cab27fd47893a1f69e5e74 | And it sounds like you aren't really factoring in any further deterioration in traffic or ticket for the remainder of the quarter here, just given what you shared in terms of May-to-date trends and then the midpoint of the guidance. But maybe if you could just speak to that in more detail. | Sure. So it's really interesting, quite honestly. We have so many different ways of looking at this. And quite honestly, we have scenarios that range -- have sales ranges anywhere from the mid-$160 millions into the mid-$180 millions, honestly. It's just neither in that range I just mentioned, makes sense relative to e... | direct | [
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d5475e2f77bf4b2d0feb81dcb4ccbfb5 | And then just -- I mean, it seems obvious that inflation has impacted the consumer. But I mean maybe if you could put a finer point on behavioral changes that you guys have observed maybe just in terms of more shift to private label, trade downs, any category shifts that are interesting to call out? Just love to get a ... | We haven't seen any material changes in any one category. The business is pretty consistent across the category. So nothing that we've seen there. And geographically, we're also seeing the same results pretty much. There's some variation, but we're seeing the same results across the country. So we are not seeing anythi... | intermediate | [
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6c0cd61cdf4350c5f6248942bb643bad | And then just maybe last one from me on margin expectations. I think I got you pretty clearly. Product margins probably are going to be relatively consistent with 2019 levels. It sounds like occupancy expense is to the good relative to 2019, just given the renegotiated leases, where we're going to feel more pressure wo... | Well, in the second quarter, the aggregate of buying, distribution and occupancy dollars are going to be fairly consistent to what they were a year ago, a little bit lower but with a lower level of sales. That's where the deleverage is coming from. It's a simple function of basically having a similar occupancy structur... | intermediate | [
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eccd022d36ed4364501c8c33f1f718a8 | Hi, good morning, and great to have you back on the call Bob. Maybe just looking at a little more on the advisory channel regionally, you mentioned the revamp of the team, and maybe just some other things that you've done over the past couple years to get that US business and possibly when it could slip deposits? And t... | Sure. Well, starting from the top down over the last two years, we brought on new leadership. That would be Dan Charles, in charge of all distribution, but background is mainly institutional. And then Jeff Sharon, who came in about a year ago to head up US Institutional. And we did reorganize our teams, our talent into... | intermediate | [
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59ca617b62d2f1a6034405997bb8524c | Got you. And then maybe, what's the temperature there, closed-end fund market these days? I think in the past, you talked about kind of a pile up with launches at the distributors. Could we see that possibly ease somewhat in the back half of the year? | I think the calendar is pretty full at this point, but I will say there are two strategies that we've been working with our partners on the distribution side with, both of which -- there is a high degree of interest in, ones in real estate, which would include public and private real estate, and the others in infrastru... | intermediate | [
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b36567e0b05993f74c57e4763eb95ba9 | Thank you. So in terms of the recent wins, the recent mandates, and you talked about existing clients, can you provide any color on how that shakes out in terms of new clients? And where you want to see that? Obviously, you want to expand the new client portion significantly. Can you give us color at least directionall... | Matt, you went over those numbers in your remarks. What's the breakdown between new and existing?
Yeah. So we had a $1.2 billion of inflows from existing accounts, and $300 million from new mandates. So as Bob had mentioned, we're seeing an increase in new mandates, but the revamp of the area is relatively new and the... | direct | [
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5ed617bc542e61da4cb3093d8be6581a | Okay. Thanks. And then other question. In terms of ideally one to two transactions per year, can you give us a sense of what the -- how much lead time we should be expecting before a transaction actually is committed [Phonetic]? | Well, the first step is you'll see a filing from us, which will start the clock ticking and we'll define the strategy. And as I said, because of the interest and at least one if not two of our new strategies, we'll be filing something fairly soon. And after that, it will be simply a matter of working with the various u... | intermediate | [
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897fa7c7baa80082d2edfa256cfb595d | Can we start off with the IRP filing? And how are you thinking about the incremental kind of IRP capex that's -- that might be rolling into the current plan? Are there any thoughts on the timing kind of gradual versus step-up? And there's been some roll in, in 2021 and just kind of thinking about the overall trajectory... | Yes. I think directionally, the answer is yes. You're going to see a step up and move forward. In my remarks, I mentioned we're going to probably begin layering in 100 to 150 megawatts primarily with solar initially each year, layering that in kind of growing into the ultimate retirement. We're trying to space out thes... | direct | [
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5eb7ed3e4454af7f2b416bcc2e28d6e8 | How are you thinking about the capital allocation there, again, in relation to the capex plan, whether it's a little bit more gradual or there's going to be a bit of a more of a step-up as kind of the exit or the credit rating start getting a little bit more loose? And are you thinking about kind of just organic reinve... | Yes. So I'll let Bryan take a swing and get his voice ready. But we look at earnings growth and dividend policy is both part of our total shareholder proposition. The way we're thinking about your reference to the exit of the midstream business and proceeds there, we've said repeatedly, our first preference is to reinv... | intermediate | [
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2bdbd132f0bc1599bdec9114602451ec | So kind of, I guess, the growing into the investment capacity that you would have from the expanded credit metrics is gradual kind of in line with the capex plan. | I think that's fair. | direct | [
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88cb29eb6ab7fb7d04ee26e4bcbe92d2 | What's the remaining book value on all the coal plants? And if you accelerate the -- Do you have plans to accelerate the retirement? And how do you plan to get recovery if you think? | Yes. Yes. So good question. So our coal plants have a pretty sizable useful life in regulatory terms. But the way we look at this, we look at -- we're looking at all of our assets all the time. But the principal driver of the IRP is really the next five-year action plan. And so it's really focused on these prompt years... | intermediate | [
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1ac5466b0d0682b18f62a1f3198be002 | Okay. And then -- so how much coal will you have post 2027 after Tinker and Horseshoe are retired? | Yes. We'll still have the three units. We'll still have the three units. | intermediate | [
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3631d7281e66aaa66beb5c1ab3d70463 | I want to focus the question on one area that we've gotten the most questions on since we launched coverage, and that's on organic constant-currency cloud services growth. It looks like you came in above the high end of your guidance for the quarter, and you reiterated, Safra, that you expect greater than 30% growth fo... | So, let me tell you, it is all of the above, but let me tell you what's really happening down at each customer level. When customers try us for some reason, whether they're using Fusion and they start using OCI for their own applications or they hear really from word of mouth and from really a need to run some of their... | direct | [
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6558096057c19e21d0f1d3a7c12a280f | Now, obviously, Oracle has been delivering accelerating growth in its infrastructure and database businesses for multiple quarters now. Safra, can you give us some more color on just what the drivers are behind this? And how sustainable they are, be it BYOL, database add-ons, Autonomous Database, etc.? And then a quest... | Well, again, I think one of the issues. I know a lot of people for years have been concerned about can Oracle sustain its leading market share in the database business. And I think what is clear is if our databases are available in multiple clouds, I think then the answer is clearly yes. If our database is not availabl... | intermediate | [
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64ceafaa813e34573f9cfcb9a47037e0 | Larry, Safra, historically, in increasingly difficult economic conditions, organizations focused on what drove revenue growth or immediate savings, and thus, products like Salesforce Automation or similar areas received funding while back-office projects were delayed. What is different this time, both from a ERP point ... | Sure. So, let me start by -- since I'm also the Principal Financial Officer if I was at another company, I'd be the one making the decision to buy Fusion ERP and Fusion HCM. And what is absolutely clear is that saving money in the back office is basically automatic when you use our products. When you move from -- espec... | intermediate | [
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5a1b38674e3961c90e0af00ce8a26c80 | I was hoping to get an update on your go-to-market strategy for OCI. I mean, it's clearly becoming a more critical growth driver for you guys. Is there a dedicated sales force? Are you doing more bundling of OCI with other offerings? Just hoping to get an update on how you're going to market and what kind of resources ... | Yeah. Let me start, Larry. Go ahead.
OK. So, one of the enormous changes we made in the past year or so, year or two, is that we have invested in a lot more engineering talent in the field to help our customers bring over workloads. And once we've shown them how to do it and the enormous benefit they get by doing it, ... | intermediate | [
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b9cba01a9b52aeede2a08a8b5a71a6a0 | Larry, we've heard of some very exciting things happening with Cerner pretty quickly after the deal just closed, with some hospital networks we heard from significantly expanding their existing contracts. Can you talk about the unique value you're able to deliver now that Cerner is a part of Oracle and the broader expa... | OK, I'll go first. I'll let Safra -- by the way, the $1.7 billion capex is there's just so much demand. Safra mentioned we have more data centers in more countries and in more cities than either Amazon or AWS. And we're expanding because the demand is there. We expect to be growing in the 50% range for cloud services. ... | direct | [
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5d8dbb32e2108a4e0b80d84731925c12 | My question would be on the revenue guidance and sort of what's your view on the normalized growth rate. Because on the fourth quarter, you just mentioned, there will be an impact around 6 percentage points to 8 percentage points. This is more than the 4 percentage points to 5 percentage points that you mentioned in th... | Your question probably can be separated in two parts. Our Chairman James Liang, will address the macro forecast and our view on it, and Cindy will address the detailed questions about our guidance.
Yeah. Certainly, the recent events in Hong Kong really -- certainly has a negative impact on our outbound business, not j... | intermediate | [
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707a2c8957cd5825e20531e2521402d9 | First, considering of future expansion to bring more international tourists to China, so what's your plan to track? There is always the user traffic to Trip.com. And then we see Google still at the top of the user traffic funnel in the overseas market, so will you do more marketing on search engine or more promotion? Y... | Okay. Let me first address the question of retail market. Yes, I think the retail market has a lot of potential. But still there's quite a few bottlenecks. From the China side, the retail -- the online payments and the -- like the hotel for -- restrictions for foreign -- foreigners and also the -- like Internet access,... | intermediate | [
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5b869af7d76a3f2c56413bac94cd54d1 | So with the update in terms of the strategy we have in the overseas market, and also we are seeing a step-up actually in the cross-selling ratio, right from air ticketing to hotels and to the other products, and also with the large volume we have from the Skyscanner. So how do we see the international growth trend and ... | Sure. Thanks, Binnie. I think for future, our strength is really the one-stop shopping model and our ability to cross-sell between different tiers. And since our international air tickets, normally is the first product that our customers select, once they make the reservation, we will immediately know where the custome... | intermediate | [
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07c1892bd7e96b0b0624a00cd8bf248a | Great. Thanks for taking my question and congratulations on your 20th anniversary. It's nice to see all your suppliers at the event generally happy for your success, so well done. So my question is just on the accommodation. It did decelerate. I mean, how much of that is a mix between lower volumes versus lower commiss... | Yes. For the slower revenue growth, there is factors there, which is mainly due to the slower-than-expected travel demand due to the macro headwinds, especially in certain destinations like Hong Kong, Taiwan, the Greater China region. For example, during the October holiday, the weakened rhythm of travel momentum, the ... | intermediate | [
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3068f9934097e1b800762fcd229d3e18 | Yes, thanks for taking my questions. James, I was wondering then if you can comment on the competitive situation. We recently heard that one of your key competitors recently stepped-up on their discounting, maybe especially in the low-tier hotels, low-star hotels. Just wondering, if you can talk about that a little bit... | Yes. We have been always pursuing a quite aggressive pricing strategy at the low-end market. I think on the high-end market, our customers are generally not that price-sensitive, and they generally value quality of the services and brands. But on the low-end, our customers are quite price-sensitive, and we have been qu... | intermediate | [
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fb643b0e9846f18a3ade4c21dc302e38 | Hi, good morning. Thanks for taking my question. Just curious, can you help us understand what kind of synergies should we expect from your TripAdvisor JV? And secondly, it has been almost one year since you upgraded your open platform strategy and launched the 3.0 version system. Just wondering, would you mind sharing... | Sure. First of all, on TripAdvisor, we're very excited about the partnership because our users will be able to access millions of reviews and pictures generated by global users. And when they make their reservation, they will already see what they're going to see in the destination. And that will enhance our user exper... | intermediate | [
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1644cc78cb95b3d18256893c39c83087 | Good morning, management. I have two questions, two quick ones. One is last year we actually mentioned a lot about going down to the lower-tier cities. But if we look at what we actually did this year, a lot of them is rather going abroad. So I wonder have we changed our strategy? Or is this going downstairs -- going d... | Sure. For Ctrip, we are based in China. So further penetrate into the lower-tier cities has always been our strategy and will be in the future. However, we've seen great potential abroad as well. So the two campaigns and two fields are moving simultaneously. Our domestic team is moving very aggressive by opening up off... | direct | [
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29c28809c223bc3401c7629dcbad149d | Could you please characterize the current near-term demand environment for your vehicles? These are obviously unusual times. I think back in Q1, you had indicated record backlog, I guess, at the beginning of this past quarter. I haven't seen any specific comments about new orders or backlog in the release today. So can... | Demand is not a problem, definitely not. We do have some production supply chain challenges we're trying to slow right now. For example, the Model Y, we're body casting, obviously, because it's new technology. It's been tricky to maintain rates and keep growing the rate for Model Y casting, which is -- it's a two-piece... | direct | [
"direct",
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b57de6bc2ab91fbecfe6212c5c7684aa | On the NIM guidance, a lots of moving pieces driving the stronger NIM this quarter. I was really hoping to unpack a few of those. And first on the liability side, is there any additional room for continued roll-off of higher cost FHLB and CDs. And on the asset side of the equation, how should we think about the asset y... | It's Jim -- I'll start, thanks on the deposit side, we did what we said we were going to do by rolling those off. That might be a little bit left, but that was, you know, the result of getting the extra charter and yes, sweeping more cash deposits. And on the asset side, you know, that our projection is pretty much a s... | intermediate | [
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5e136c932592cbdd2b6a8c81a738e6e6 | That's helpful and then just a question on the capital outlook and future deployment plan. So the capital ratio has ticked up nicely in the quarter, I know in the last call, Ron, you insighted the $500 million of capital generation and really limited capital needs to support bank growth and the dividend, which implies ... | Well first of all, I mean, I -- you know share repurchases are always done here with an eye toward value and the share repurchases should create value for remaining shareholders. So obviously our stock price is up 40% for the year, we're going to continue to buyback shares, but I would say they're not as aggressively a... | intermediate | [
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97a60043603e0922e2ed30d10d3b0bbe | Yes, and that maybe a pretty high class problem to have. Just one more for me on the IB outlook. Ron, your comments were actually quite encouraging, as we hear think about the outlook for ECM and DCM particularly following some of the challenges on the underwriting side this quarter. I'm just wondering in the context o... | I would say that the low end of the guidance would have suggested our first decline in revenues in 24 years. So that -- and you're talking about total guidance, right?
Yes, total guidance. So, yes, you know, I feel like I feel optimistic about the remainder of the year considering our pipeline, considering that we don... | direct | [
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] | A |
b2c7bfb2da281445ff2dc9bf923ceb53 | Alright. And one final clean up for me. The $1.9 billion individual program balances. I'm just wondering what proportion of that is still available to be deployed to fund future bank growth? | Yes. As of today we have about $500 million of additional capacity within that program.
I would also point out, you know, we made the comment on the call about additional deposit generating capabilities that we are building out of the bank as additional means. As we look out beyond 2019 to 2020 and beyond and we feel ... | direct | [
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f593dd2e9876f73aacad26baaaffeb0c | Hi, I guess first question here you on the advisor recruiting backdrop Ron appreciate some of your comments and your point it looks like the second quarter has started on a strong note from the outside from what we can see it looks like April you've already brought in kind of the same number of assets as you did in the... | You know, today in this environment and considering all that's going on I would say that I would think that 2019 will exceed our recruiting in 2018, were the number of people that are considering Stifel is the number and the quality and the number of teams and rather large teams. Is the largest that I've seen since I'v... | direct | [
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ecab333c9365c621b41956dc9ea01549 | Got it, terrific. Okay and then just obviously to the extent you continue to have success there. There is a cost to recruit, you know, both in terms of the infrastructure of the firm and then you're just thinking about the amortization on the compensation side. But you guys have also been managing expense as well. So I... | Well we've been -- we have been making a fair amount of infrastructure and technology spends over the last two years. And so that's been in the numbers. The other big number that usually comes out of all of this is the amortization of the recruiting deal so to speak, and what I would say about that is we were coming of... | intermediate | [
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acffe8859b29d1feb1e2fcf4e3feed53 | Got it. Okay. Thank you. Just the last one here on. Yes, I guess capital and M&A, you know, obviously great to see the stock price move here and hopefully that continues. But just in terms of thinking about acquisitions is a outlook for capital deployment. You announced the Mooreland deal recently I'm just curious kind... | As always I -- first of all as you know and all of our shareholders know, we have been both an active participant in M&A, but more importantly an effective participant in M&A in that -- we have an ability to properly identify price and integrate deals. And as such we feel a lot of things, if something is, you know, pot... | intermediate | [
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22450ac6a5de174d99506601fb8ab144 | Thanks guys. So customer cash balances are trending lower, it's not unique to you, obviously it's a trend happening everywhere. It's going to put a little bit of pressure on your interest earning assets. You're kind of guiding to a flattish NIM here, but there's still some balance sheet growth you could potentially exe... | Yes, it's early and we still feel comfortable with our NII guidance with income coming in higher than we originally saw. It does give us some flexibility of the balance sheet. We continue to look at opportunities to manage asset levels, but we do feel confident with the NII guidance.
That's on higher interest earning ... | direct | [
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46acfd796a14fe49f30e991c891f5654 | Yes, OK. With respect to the outlook for NIM. Are you guys assuming within that guidance range that your deposit costs creep up a little bit from here? | Obviously, we're looking at that and we'll be responsive to the market, but we're not anticipating any further creep there in terms of what we're seeing. | direct | [
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24cd8ba7a70c15bf762afe483d9466c5 | Okay, great. And just one question on the institutional business. Nice recovery and the fixed income brokerage side. Just a bigger picture, there's been a lot of volatility in that line item over the years. Clearly a lot of things are impacting that. What do you think like a normalized run rate type of revenue number i... | Well the last question first. I mean, you know, MiFID it's indiscriminate to equities or fixed income theoretically, there's not the research component is different on fixed income. So the impact for us at least of MiFID on fixed income is not as apparent as it is on the equity side, and you know, honestly, if I had a ... | intermediate | [
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02d7503d3070ef5afa184d8fe74dd796 | Hey, good morning, everybody.
Question for you guys, another one on the wealth management side. So you know Ron obviously you talked about strong net new asset growth in the quarter. What was the net new asset number for you guys in Q1. And bigger picture question I guess when you think about some of the industry tren... | Yes, well I guess. First of all, we are a dual registrant, OK, so we have advisors who act very similar to RIA, in fact we have RIA funds in the firms, so we don't market that directly as some of our competitors just you're right about that in terms of capabilities. It's my view that as you -- as the landscape evolves ... | direct | [
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f689aebf2c4dd85e249bc9a4e37ae9f3 | Great, that's perfect, and thanks for thoughts around the disclosure here. Second question speaking of new disclosure, great job, guys, on the average earning balance sheet and that's definitely helpful to put that all in the release. So when we think about the NIM guidance for the bank, can you just update us on the s... | When we gave NIM guidance back in the third quarter, fourth quarter everything has been specific to the bank. It's the vast majority of what we have, so we haven't really put out any guidance for that on a consolidated basis. | fully_evasive | [
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51c582465360742dad95968f9d0501d3 | Fair enough. Last one for me. So on Mooreland Partners, it sounds like they have a handful of managing directors, but less clear what the production level is there, maybe help us understand kind of what the revenue contribution is to the business from that acquisition? | We just haven't disclosed that, I mean, we just closed and it's a nice transaction that fits nicely not only in our businesses, but in our locations, you know, across both the US and in London. So we're always certainly like the transaction and believe that's going to not only add the revenues they bring in, but help u... | fully_evasive | [
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7c05fd31c1dd1994737d726480fa2a67 | Larry, when you -- when we think about the upstream spending growth rates that you're contemplating for next year, which are in the fold of what others are saying if not a little bit more conservative. We know that surface pricing needs to increase pretty substantially to recover the inflation that you're experiencing ... | Yeah. OK. Good question Ian. So first, maybe frame where we think we're kind of what we're seeing today with our client conversations about our outlook coming going into next year for 2022.
So we'd say US activity is likely to grow 15% to 20%. Still, some conversations going on with both our domestic and international... | intermediate | [
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9edf1ab54af2a34eb1f87b6493936793 | Now that you have -- the world is obviously your margins need, need, need some time to normalize. But just from total health of the market and demand growth respect to things normalize.
You've gotten your balance sheet on more solid footing than last year. How are you thinking about the opportunities strategically for... | Sure. I'd say first of all our attention is always drawn toward our internal pipeline for technology development. It is a foundation for where we go. We've got a number of very intriguing technologies some including nuclear physics sort of revolutionary approach to how we'll address Core analysis in the future.
And th... | intermediate | [
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84b0852ffab06cd9cd897d994675b2e3 | Hey, Ari, hey Otero. Good evening all and thanks for the opportunity here. I have two questions from me. And my first one is related to the impact in revenue recognition. I mean, Otero, if you could please tell us again, what do you expect an impact coming from this lower recognition of revenues related to the COVID-19... | Thanks, Pedro, hope you're doing fine. So thanks for the question. So as we mentioned in the presentation, we expect the revenue recognition for this year to be slightly below the ACV announcement, may be a low to mid single digit. This reflects the pandemic of course and lower enrollments for 2021 than initially expec... | intermediate | [
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5867392370adf82fbb837c2d1499bb52 | Hello Ari, hello Otero, hello all and thanks for taking my questions. So my first question would be, if you could give us any additional detail on the initiatives to provide more flexible payments per school. So maybe here [Technical Issues] negotiate the contract [Technical Issues] included expanding their publishing ... | Hey Vitor, it is Otero here. Thanks for the question. So as you know, I mean we have a lot of discipline. So we care a lot about the brand reputation and we don't use prices, discounts or creative contracts to I mean renew or add schools to the portfolio, but if schools or -- the market or the schools are going through... | intermediate | [
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45a884fecafa03f63c78287c4e263c6e | Hi, good morning everyone. I was wondering if you guys can give some more color regarding the BRL648 million related to accounts payable to selling shareholders. How much international school represents from this amount and when do you guys expect to close the deal? | Hey Caio, Otero here. Thanks for the question. So international school is almost half of that amount, right. Actually this among has not changed. There has been no update to that amount. As you know, I mean you're seeing the arbitration process. If we have any update on that, we will automatically let the market know, ... | intermediate | [
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59c4982bcf6076cae6989faa0e7402de | Good evening, everyone. A question from my side. Could you give us an update on how you are seeing the M&A markets going forward, especially looking at under learning system solutions after the acquisition of COC and Dom Bosco. Thank you. | Hi Lucas, thanks for the question. So on the M&A side, I would say that when we look back, we have made. I mean transformational acquisitions. We actually had the opportunity to buy what we wanted to buy and this was a very successful move for the company in terms of capital allocation and discipline. Yes, we are still... | intermediate | [
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18f082f1958f7e74ff25f45f992baecc | So first, I guess I want to touch a bit more on the data from that MD Anderson study. And if you could talk about what sort of variance were detected by Saphyr that were missed by [Inaudible] how having this new information could potentially or did in the study change physician treatment decisions? | Yeah, it's pretty darn interesting. And I like that you picked up on it because -- I mean MD Anderson is just a household brand name in cancer. And so when these researchers take on a project, they do it knowing that there'll be an expectation of significant impact. And I think this study is really compelling on a numb... | direct | [
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db0386cbf0a7bfd94da437b8542e2cf3 | As a follow-up, I'd like to shift gears, just ask a bit about -- you mentioned improving macro factors for the business. Could you expand a bit on what you mean by this? Is this largely COVID-related stuff? Or are there other factors at play here? | Yeah. I mean, so we talked during the first quarter about that we're able to install -- grow the installed base by 12 systems in the first quarter and that we had some systems waiting to be installed. And we felt that one of the factors that might have been giving us a little bit of headwind there, we knew was COVID an... | direct | [
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ab7952b0587704a119b0a20f8a95f8bf | I wanted to ask about the health economic analysis in your clinical program and specifically how important those are when talking about securing reimbursement, not just for Bionano, but also for some of the third-party LDTs, many of the developers of those, as you mentioned, currently have PLA code and are looking into... | Yeah. I mean health economic analysis is kind of a standard endpoint in driving guidelines. And so I know that these clinical studies that we're conducting are going to benefit the process of clearing the path for reimbursement. And I -- but I do want to be clear that their design is really intended to provide the evid... | direct | [
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33c4cda09fa7b4dee3dac033c133ef7d | North America and transactions up 10%. Curious if you could talk a little bit about what that looked like e-com versus stores. Also curious how big buy online, pickup in-store was for the quarter and yearwhatever you might be able to share there. And then, separately, I just you hear more about the marketplace business... | I'll start, Paul, on some of the macro questions that you had. Our e-commerce performance, as we talked about, traffic was up. Our conversion was up. Our ATV was strong as well online. When you look overall at the stores, what we saw on the lower traffic, our conversion was also very strong, and we were able to drive t... | intermediate | [
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17790946967344b76bf97d2dea20b557 | I just had to ask a question about the long-term margin opportunities. It looks like the guidance penciled out to around a 5% operating margin for this year. Is this a good level that we should use as a base upon which you'll invest to grow market share? Or do you see any other big levers you can pull to move that marg... | Thanks for the question, Lorraine. As you noted, our guidance range, it pencils out at 5 to 5.4%, which I'd note on the higher end is an improvement to fiscal '20. But that said, long-term growth remains a focus and our strategic decisions and continued investments always consider sustainable long-term share and share ... | intermediate | [
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abd7bb9bf5c8a73380c14c9995e250f0 | And then, can you just give a few more comments on the fourth-quarter gross margin decline? And what your outlook is for the first half of the year on that line item? | Well, we really don't give specific guidance on our gross margin in terms of the outlook for this year. But I would just reference you again back to the operating margin that we just spoke about, Lorraine. But in the fourth quarter, we had strategic promotion, as I mentioned, and we had very strong sell-down activities... | intermediate | [
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4093dd9a7fa7763b9d40a8c4ad9c553e | Can you guys just talk about -- a little bit about the payables? It looks like it was pretty -- it was a big. It helped your free cash flow -- your cash flow from operations this year. Can you just talk a little bit about what caused that spike? | Yes. Thanks for the question, Will. I would say that we have had a continued effort throughout the year to manage working capital much more efficiently. And we've worked very closely with our vendor partners and have lengthened our terms. We also had some deferral of rent, which we worked with our landlords on. Now, of... | direct | [
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4ba763cc8af2531f5eca280403eaff6f | And so, do you expect that to normalize going forward? | We have focus on cash flow generation for fiscal '22, as I mentioned, and we'll continue to have a focus on inventory, payables and just overall cash management because, as I said, we've positioned our plans conservatively. We expect negative sales in the back half of this year, and we keep that in mind as we manage ou... | intermediate | [
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c8abe39319fd7898c74cf041fa6d3a87 | Got you. That's helpful. And then, can you just remind us what the profitability profile of e-com is versus brick and mortar? | Well, we haven't really given that guidance per se. What we've said is that it's not materially different. What I'd share, Will, is that when you think of the activities that Gina mentioned through virtual selling and ship from store, you're going to see a higher concentration and continue to see a higher penetration o... | intermediate | [
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2221121552dcabaa2a45339c1703910a | That's great. And just one more for me. Can you just -- can you talk about any plans for the convertible debt? | That remains out there in 2024, and we'll address that as we progress. As I mentioned, our capital priorities are initially, number one, invest in the business; and number two is to pay down debt leverage. You'll recall, as I mentioned on the -- in my prepared remarks, that we fully paid down our revolver, as well as o... | intermediate | [
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f80d3a6e29bf40c7c234b29c8a7a1b3d | As you think about the wage hike, I think that was announced earlier this year by spring 2022, I believe that you had been paying above minimum wage anyway. What impact does that have? And are there any other puts and takes on the SG&A, given the expense reductions that we should be noting going forward? And then can y... | Dana, I'll start on that. So, yes, we recently made a commitment to a $15 minimum wage across the US This is an initiative that we had already begun. So, we started it in fiscal '21 as a conscious way to improve our employee experience. And we've been addressing this not only in our stores but also our distribution cen... | intermediate | [
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] | B |
9fea7b5adb4c7f0120054b109a263c97 | Hey, guys. Congrats on the quarter, and thanks for taking my questions. Good to see Movantik and Talicia off to good start [Indecipherable]. I had a few questions first pertaining to Movantik. So, with the number of reps we have out there, can you just give a little bit of color on how you think your strategy differs f... | Our focus is to increase Movantik business. We are over 75% of the [Indecipherable] class, so we are the dominant player in that class. But to grow the business, we are going to look to bring more patients from over-the-counter laxatives [Phonetic] because that market is huge to bring more patients to that group. And w... | intermediate | [
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359cf843f4ef01bd0cd30ce4f9579649 | Yeah. Thanks. That address the first part. I think the second part I had was, is there -- historically has there been an in-patient hospital component Movantik and if so, what -- I guess what percentage of total scripts in the business was that? | So there it is inpatient part of the businesses, but it's not -- it is not a majority of the business. So, it is an area we are looking at to see if there's something additional we can do there, but it is not the majority. It is not a focal part of the business right now. | intermediate | [
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0dda9afcce3d50ee191ce3f70e41ea4a | Okay, got it. Thanks. And then, I just had a question regarding Talicia. Obviously we're in the early days of US commercialization here. So, you want to see how that goes. But in terms of ex-US and, in particular Japan where we know there is higher incidence of stomach cancer and willingness to treat asymptomatic patie... | Thank you, David. I'm glad you brought it up for the benefit of the audience. Over half of the world population is infected with H. pylori. This is a carcinogenic class one, meaning it's definitely linked to malignancies, specifically gastric cancer from which probably 900,000 people are dying every year. This is a ver... | intermediate | [
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619c7925965d3da23bd62ebdc4caa5d4 | Thanks a lot. That's very helpful. And then, just one last one, if I may. Obviously we're looking forward to getting some data for opaganib toward the year. And I'm just wondering if you thought about sort of the market opportunity in COVID if you're able to get the emergency use authorization? And to what extent does ... | Yes. Another very good question. I'm glad you asked. Yes, we have been preparing for ramp up, for pricing strategy, for capacity requirements. We have been doing a lot of work. As of probably March this year, we have engaged in a lot of discussions internally and externally, including with government about those issues... | intermediate | [
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5d1f6b262720bf0bcee0499d14eb491d | Thank you, and good morning. Just a couple of questions. First, on the model, the gross margins a lot lower in this quarter, but obviously that's going to change with the new deal. Could you give us a sense of what we should think for Movantik gross margins kind of at a steady state? | Hi, Scott. Thank you for the question. So, currently we are paying royalties to both Daiichi NKTR and we have cost of goods sold paid to AstraZeneca, as well as some payment with respect to the efforts in the transition period to sell the product. From the next quarter, as we published, our new duty with Daiichi Sankyo... | intermediate | [
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38006ac254e6e44818c78d1de15c2352 | Okay. Now, in terms of magnitude, would you expect like halving of the cost of goods sold or just trying to get some sense of the magnitude of that reduction. | So we are going to move to mid-teens royalty level with Daiichi from the current level, which will reduce more than 20% from what we paid today. | direct | [
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ebced525042bf05c81ca66a56d032e3e | Okay. Thank you for that color. And then, a question on the COVID-19 trial in the US. If it finishes enrolling in August, is there a possibility we could see data in September? | It is possible. We need to complete enrollment. Right now, we are halfway through. We're adding sites, and it is possible. We cannot commit to that because we think that fluctuates. But the plan is to try to generate the initial results indeed this quarter. | intermediate | [
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e235822c52991215ce5d427cd752da32 | Okay. Great. And then, I guess, shifting to the pipeline, Talicia obviously just launching right now, and I'm hearing about a next-generation product. Could you talk about what the next-generation products could bring to the table that could be additive to what you already have with Talicia? | Thank you. We also think ahead. We just launched Talicia, which is a great product. It will do very, very well. We expect it to become the standard of care relatively quickly. And as soon as patients come back to pre-COVID level of inpatient -- in-person visits to the clinics as long as they become again eligible for t... | intermediate | [
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290cd06672a0ac2fdcbd8370a54287dc | Okay. Understandable. Final question, you mentioned breakeven in 2021. The question is, could you give us a sense of what the breakeven revenue level would be necessary perhaps on a quarterly basis for you to reach breakeven? Obviously it depends on the mix, but in general. | Thank you, Scott, for the question. So, the range that we think we can achieve the desired stability breakeven point is in the neighborhood of $30 million, $40 million per quarter of net revenues. | direct | [
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eea937d356526f648273c48da6187472 | Okay, great. And maybe I'm just going to sneak one last question. The G&A in the quarter of $6 million was a step up from Q1. Is G&A representative of what we should think going forward? | It is representative, taking into account that we got some reduction in our G&A level due to the PPP program of the US government. | direct | [
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de13f9cf9a1b436f410049e26c233c9c | Yeah. Congratulations on the quarter. My question is more on the sales force ramp-up. I know you mentioned that in June that they started to go back to the field in July. They really started to step up. When do you think that they'll be fully back to speed? | Thank you and good morning. Korea, COVID, we had about 3,500 call a week with the same 100 range give or take. Right now, as we speak, we are at around 2,600 per week or in-person per week. This is up from nearly nothing in April and May obviously. So we are well on our way to get there. Of course, a lot depends on the... | intermediate | [
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c4e72fb840c07fa01ebb62df6a3bbbe3 | Great. And then, different question is, I know in the past, you guys talked about trying to get to 150 sales rep. Is that still medium-term or short-term goal? | Right now, we are comfortable with 100. We do not see a justification surrounding uncertainties to add another 50 sales representatives. However, over time, we will certainly grow the number of sales representatives and reduce the size of territories and increase the number of call points and so on and so on. I'd say, ... | intermediate | [
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817b166a846d7cd7296bca0ab8116747 | Hi. Good morning, guys, and thanks for taking the question. Wanted to focus in on your NTM program a little bit, potentially a significant opportunity for you. Can you describe your plans for Phase 3 and specifically give some detail in terms of potential timeline for a trial that you plan? | Thank you, Matt, and good morning. Yes, we're very excited about the FDA clearance to initiate the pivotal Phase 3 study. The design of the study is such that it will address safety and efficacy evaluation of RHB-204, evaluating endpoints of microbiological laboratory analysis of conversion and also clinical outcome. A... | intermediate | [
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b95603be85fed099ab447bfd29cd141c | Okay. And when you launch the study, how long do you think it would take to enroll and complete? | So, the study is planned to enroll 125 patients, randomized to [Indeciphearable] versus placebo, and of course first-line patients, naive patients, and we hope to enroll in up to 50 sites in the US up to a year of enrollment. And then, the study is for a year of treatment post-conversion. So we hope to have results alo... | direct | [
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afb6de0f69bc4d61f654ffaec4ebe7a2 | Great. Thank you for the detail. And then I guess, maybe a question for Rick. In terms of Talicia and the initial launch here, as you transition from the COVID to post-COVID time in terms of launching, do you anticipate continuing to have kind of the virtual aspect or, in terms of marketing, kind of using Internet and ... | So. Yeah, thanks for the question. Yes, we are. We have been doing webinars. We've been doing launches remotely. We did all these things, and we do have -- actually have a position in our marketing department and the focus is on this area. And so there will be -- will continue to be marketing efforts through the Intern... | direct | [
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"fully_evasive"
] | A |
0d5e85481fda9fcce14ea3706a345088 | I guess first question, pretty significant growth in cap within the Specialty and Water segments in the first quarter even on a sequential basis. Can you help us think about that through the timing of conversion about awarded work, I know water tends to be a little faster burn, but could we see the majority of that wor... | Yes. So this is Kyle. And Brett, we can talk a little bit about that. Certainly, we anticipate in the specialty segment that that's going to convert relatively quickly. A big piece of that was the specialty, and the specialty segment was the project in Ohio for the tunnel group. And that job has been awarded. We antici... | direct | [
"direct",
"intermediate",
"fully_evasive"
] | A |
dad2632d1343b50d1bf89fbbe267558b | Okay. And I guess my follow up, I mean, the 10% gross margin and transportation in a first quarter is particularly good for this time of the year. And I don't think weather was entirely in your favor this period. So, I guess just looking for any additional color, is it -- the work that you're pursuing, Kyle, just the e... | Yes, I would say, the weather was actually pretty good in the West. And so we saw similar weather this year in Q1 that we saw in 2020. So, that's certainly helped that segment. And just in general, I think our teams executed very well in Q1, which they've kind of building on some really strong momentum coming from 2020... | direct | [
"direct",
"intermediate",
"fully_evasive"
] | A |
2df5110bed1f27fc395ac49e0a068c1c | Kyle, you mentioned about the first quarter competitive nature on bidding from the competitors and such, as you've gotten through April looking into May, are you still -- are you able to be more selective? Have competitors backlogs been filling up rather quickly? And maybe as you talked about, as you indicated your ran... | Okay. So, we'll start with the first question. It is around the bid environment. We are seeing a really nice bid environment across our entire portfolio. Certainly, that's being led with our VI [Phonetic] business where we're actually increasing the amount of work, we're bidding even on some of the large projects under... | direct | [
"direct",
"intermediate",
"fully_evasive"
] | A |
33c817c3816b1d45ac694b6e5592d8c8 | It sounds like you've got comfortable with your revenue coverage, like what you have in the pipeline relative to your revenue with targets that you've set out for '21? | Yes. Yes, I think we feel good.
We do. And, Mike, this is Lisa. Just to add a little bit on that, on cap. We're continuing to see the shift in mix that started last year. So, while Heavy Civil Group, that portion in the portfolio continues to decrease as expected, we're still maintaining our overall cap balance. So, w... | direct | [
"direct",
"intermediate",
"fully_evasive"
] | A |
0ee30fc5d44bd10b35ee9abb70b4ce49 | I appreciate it. And then, just my quick follow up would be on material side. Certainly, a very good start. Q1, we've been hearing from other building products providers, good pricing, good volume expectations, do you see that in your worlds, on the asphalt side? Any price cost issues that we might see roll through? Bu... | Yes. We think that we are encouraged by what we saw in Q1. I think that's more indicative of overall better market, and we do think that there is going to be opportunities for us to push pricing in certain markets this year. | intermediate | [
"direct",
"intermediate",
"fully_evasive"
] | B |
0d51ca79ff2971750ae47fe628da91f6 | Maybe to start with, I guess just to think about winning work in a competitive bidding environment, I know it's always competitive. I mean, is the bidding environment now similar to the past, all in, and in what ways is it different in may be a good or bad way?
And then, lastly there, in what segment is bidding most c... | Okay. Well, I would say that I have mentioned before that the bidding environment, it goes through different stages throughout the year where contractors backlog, maybe midyear, they burn through it and they get a little more aggressive in Q4, Q1. And we're seeing that normal pattern today. Although I'd say, maybe, it'... | direct | [
"direct",
"intermediate",
"fully_evasive"
] | A |
d998d130ecf37177ca650e9901ca6c9f | Okay. Okay, good. And then, thinking about the Material segment, maybe to ask a little bit differently than it was, orders up in materials, and how much of that is due to the vertically integrated business being up strongly? How much of that is external customers? And turning to kind of combine your thoughts on the las... | Okay. Let me start with the materials question. The sales volumes are up and demand is up external and internal. So, for our VI business, as well as our external sales. So, we're seeing it in on both sides. So, I think that's even better news if you look at our materials business. In terms of rising costs, we do have t... | direct | [
"direct",
"intermediate",
"fully_evasive"
] | A |
551ba56f3a9226570f41e61bf339125d | I'm wondering if you could talk about just the overall bid pursuit pipeline that you folks are looking at today. And just to quantify some of the prior comments on the bid environment, Kyle, if you don't mind, how does that compare today versus last year as you look across the footprint based on everything you're track... | I'd say it's up. So, just in general, on projects under about $150 million, we're up probably about $400 million to $500 million for this, even this month versus what we've seen in the prior year. So, quite a bit. Projects over $150 million -- again, we've been a lot more selective in what we're pursuing and how we're ... | direct | [
"direct",
"intermediate",
"fully_evasive"
] | A |
1a6cf1fcd92c8d05d09ba7aa76a46fd2 | Okay. And in terms of, with the business model transition, it's been nice to see the pipeline up with the more strict standards. Can you talk about whether that's a function of the market evolving on risk terms overall or are you seeing, in other words, the same level of discipline out of your competitors or is it just... | Yes, I think it's just a shift. I think instead of pursuing large, I call mega projects, we were pursuing smaller large projects that allow our teams to estimate more work and procure more projects. Although the dollar amount might be smaller today on the large project side, our average job size in the pursuit is aroun... | direct | [
"direct",
"intermediate",
"fully_evasive"
] | A |
fa17cc66066cf44bd9f878413df3a49f | Okay, thank you. And then, in terms of on the execution on the legacy projects, really excellent performance this quarter. Can you just talk about what went right for you folks because obviously for these types of projects, history would dictate that there is risk of writedowns from an accounting standpoint as you prog... | Yes. Yes. And unfortunately, we were out this week with safety week and we got to me a lot of our teams on some of these tough jobs. And I mean credit to them, they're working really hard to focus and bringing these jobs to completion. I think through all of our work over the last year; bidding processes and controls a... | intermediate | [
"direct",
"intermediate",
"fully_evasive"
] | B |
a91f23513eacd7bcd5b093c06deccb2e | Any significant cost or expense impact related to the energy crisis in Northern Mexico side of Texas last week? You did mention that, and it was in your press release the 80,000 tons loss, but anything that we should also model in terms of cost or expenses? And then, clearly the company has done a remarkable job in ter... | Any significant cost, well, yes, we have an impact of these 30,000 tons. And we have an increase in the price of natural gas during the 4 or 5 days that the contingency last. We are still discussing the final numbers. But it is a big number. I mean, for the 80,000 tons, probably in the EBITDA will be a hit of $40 milli... | intermediate | [
"direct",
"intermediate",
"fully_evasive"
] | B |
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