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851a2005fcd2595d0f055eccb1e2caf9 | OK, thank you. And then when we think about the PAT business and what you're seeing both in North America internationally on the revenue front, but also, the margin flattish first quarter to second quarter, I think there were some transportation costs around that. Can you just talk about that business a little bit more... | Yeah, Steve, as you rightly pointed out, the Q2 was margin and PT was somewhat flat -- fairly flattish and primarily driven by, as you mentioned, increase in logistics and freight and fuel cost and, in the quarter, we have taken -- we have taken counter measures in terms of price increases and surcharges. So you should... | intermediate | [
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c18f95281e27b97e7af67473149a32d6 | The revenue growth for PCT for this year upgraded to high teens for mid-teens seems to imply very minimal sequential growth for the remainder of the year. Can you talk to the dynamic there? I think previously you had expected price increases to maybe result in some market share loss and it seems like that hasn't occurr... | Yeah, Mark, I think if you've rightly pointed out that our teams have done a really nice job executing on this and I can tell you based on the tracking we do I would say that in every geographic market we participate, we have actually gained net market share in our PCT business. So I feel good about however teams are s... | direct | [
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49763d2c199ec56a2cceb5eb37235135 | OK. Super. And then on the margin the 20% versus exiting at 18%, is the difference there just catching up on the raw material inflation? It sounds like now you're ahead of the curve on that, but is it just more of that? Or is there mix, or some other reason that's driving the delta from 18% to 20% whenever you end up g... | Yeah. No, I think, it'll be a combination of I think the incremental volume in 2023, as well as the full, we do expect the -- as we walk into 2023, some moderation should happen in some of the raw prices as well,. But it's more from 18% to 20%, it will be more the incremental volume and continued productivity. | direct | [
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5b0ad0c91be909a92ce5696cb88574d2 | Hey, guys. In terms of the capital return strategy, do you think 60% of free cash flow over the longer term is a good way to think about it? What are the variables that you consider as you think about the right level of return -- overall return yield on equity between dividends and buybacks? | Yeah, Ati, again, as I mentioned before, again, I go back to our capital allocation framework and we stay committed to that. So in the second half, you should, as we mentioned, we did over 60% return in of free cash flow in Q2. We expect in the second half to be higher because of our increased cash flow profile and sub... | intermediate | [
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3bc2bd1626d827ccad2462d1ef2d5fde | Great. And then as you think about the international record inflection in the second half of the year, do you think you could see another round of stocking related strength in orders or revenue for the drilling technology segment? How do you think about the cadence there for the rest of the year and early '23, if you c... | Yeah, so the restocking or additional stock in orders in our drilling technologies tend to be more a step function, which means if there is a step function change in recount addition, then customers tend to add restock more. In our current forecast for the second half, at least for our drilling technologies, we are not... | direct | [
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e3ed170e7f48d19f81b9bb059b433084 | Good morning, guys. Thanks for squeezing me in. One thing you guys have historically talked about is a pretty rigorous process on tracking cost of raw materials, and this may be kind of something Mark was trying to get at earlier. Are you guys seeing any signs of cost going lower with raw materials, or is there anythin... | Yeah, Sean, with the rest in our, particularly it has been a pronounced thing in our Production Chemical side or our Chemical Technologies business. So our view right now, what we have built into our second half for forecast is in Q3 we expect another small increase in our raw material inflation, which is mostly just o... | direct | [
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9765848f5614d83e97f100bef51e60fe | Hey, good morning, everyone. Maybe just to start. I'm curious as you've recently updated the label both for the black box warning and the mechanism of action, if there's any feedback you can highlight from the field in terms of the response you're getting as you promote to most with those updates. | Yeah, sure. Hi, Corinne. So we're in the process of, you know, updating all of our promotional assets to reflect the boxed warning, as well as the mechanism of action. But I can tell you that already we're hearing that the fact that the boxed warning has been removed is news, good news. That's getting our field in the ... | direct | [
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7a075328fe3703a28f6dc92ec43ff870 | That's helpful. Thanks. And then maybe with respect to Angelman syndrome and infantile spasms that you announced recently, can you just provide a little bit more detail on what the specific preclinical or translational work you did to assess RAD011 in these additional indications, and maybe when we could expect to see ... | I'll allow -- Cole will comment shortly. But I just want to emphasize, Corinne, and thanks for the question, that we will have a very extensive R&D session in the second quarter because there's obviously been a tremendous amount of work done on the underlying science, target mechanism, and data. But, Cole, you want to ... | intermediate | [
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3d3286e8190bcb4f242ecbc159a23b94 | Hi, this is Nick on for Jessica. Thanks for taking our questions. First one, when you talk about significantly improving TYMLOS margins in 2021, can you provide specifics about how you accomplish that? And kind of maybe looking forward, how do you see the total osteoporosis market, in particular, anabolic market growin... | Well, those are like three different zip code questions. Peter Schwartzman, who's our head of corporate finance, he will go through the margin details for our product. I can give you some comments on anabolics for what that's worth, if we don't think as much, but we will comment, you know, so --
Thanks for the questio... | intermediate | [
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5c8dace3ddd7c7962b9f1959defd649a | Good morning, this is Mary Kate on for Greg. Thank you for taking our question. Maybe regarding elacestrant, how does the increasingly competitive sort of development landscape impact your expectations for elacestrant moving forward? | I can give you some comments and Chhaya can kind of add whatever she would like. The competitive information so far is mostly blinded and unknown. There's lots of noise, there's lots of articles, there's lots of research, but there's no data. And so we don't really -- not to be flippant at all, but we don't really have... | intermediate | [
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7bf871ea51ced7e5beda5642e757149a | Hi, this is Jack calling in for Annabel Samimy. Thanks for taking our question. I know you mentioned that RAD011 is going to become a major upcoming focus in the pipeline, but could you maybe offer any additional insight into whether you're looking to pursue any additional near-term business development at this time? A... | Anything -- this is Kelly. Thanks for the question, Jack. Anything that we do on the BD side, whether that's incoming or outgoing or structure traits, we will do nothing to change the cash flow generation, the margin extension of the company, i.e., anything that we do that's opportunistic would have to fit into the imp... | direct | [
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7da785d0f89e1d92b11459c644a2a476 | Good morning. This is Gospel on for Vikram Purohit, and thanks for taking our question. My question is this. For your 2022 U.S. TYMLOS sales guidance, how much contribution, if any, is expected from the male osteoporosis population? Thank you. | Zero because we would launch it toward the very end of '22 at best. So, say, December, but -- right? Approximately?
23 months.
Yeah, so it's really '23 where you would start to look at male. And as I indicated, and Chhaya and Danielle and Bob are working on, the interest in male seems to be pretty interesting for us.... | direct | [
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84c03e3d97faadb46cc0007be616aca1 | Hi, this is [Inaudible] on Eun. Thank you for taking the question. Could you please talk a little bit about what pricing points would be reasonable for elacestrant based on the PFS data compared to, you know, Faslodex of about $19,000 per year? Thank you very much. | Yeah, that would be in the hands of Menarini. We -- and Chhaya should comment, we work with them on all the pieces, but that's not -- that's -- since we sold them the asset, that would clearly be in the intersection of their commercial strategy reimbursement team, etc. Chhaya, do you want to add anything to that?
Yeah... | fully_evasive | [
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11fc1f805439f994c67a0df08043b06a | Good morning, everyone. Chris Bialas here on for Doug. So two from us. So you know that patient conversion and keeping them on therapy are the weaker links in the patient journey. So how do you find and improve these? And is there any update on the depot formulation? And when can we expect an update or any potential hu... | Yeah. Thanks, Chris. This is Bob. So one area of clarification as well, is that at least we still believe that the sort of the lion's share of growth will emanate from sort of the top of the funnel and enrollments. But there's definitely leverage to be found, in those areas, you mentioned conversion of patients to ther... | direct | [
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00b683bc2f625be4b913c0eb765005b5 | First question, Vince, let me pick up where you just left that conversation off. How do you think about strategic opportunities in terms of the size, right? Realistically, we've seen some developments today and otherwise. So how do you think about the scale of the transformation that you guys are thinking about in reus... | Yeah. Julien, on that point, I really don't want to speculate on potential M&A scenarios or hypothetical M&A type scenarios. So just don't think it's appropriate to get into that. | fully_evasive | [
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be9b47cd2d09f6ee876e34e836333977 | Right. But maybe to simplify this, it doesn't need to be limited by the use of cash proceeds here, right? There's a lot of things you'll look at, etc.? | I mean, again, I don't want to talk about any specifics. I would -- OK. | fully_evasive | [
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b91bc4431e9fad401511df57a2792745 | Secondly, if I can, you guys described a number of potential opportunities here tied to developments in Kentucky. I just wanted to clarify how do you think about ownership of those investments, right? Just the process, assumptions, etc., can you walk through that a little bit? I know that the process is under way, but ... | Yeah. Julien, just to clarify, which assets are you referring to? | fully_evasive | [
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3b134250bf3966839b2fb0a261817c77 | Just the opportunities that emerge out of the coal retirements in Kentucky? | Yeah. And I'll ask Paul to maybe comment on kind of what we're thinking there. Certainly, the -- as we're looking at what's happening at the federal level and with the Biden administration, right, it's still early yet in terms of anything specific coming out of the Biden administration. But I think it's clear that they... | intermediate | [
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f81630e5fa3803d32f2eac67ac217d95 | Got it. So in summary, it's just -- it's a little early on this RFP? | Absolutely. As Vince indicated at the first quarter -- end of the first quarter, we'll get responses back. As you may have seen, our information put out on coal retirements was the latter part of the decade. So yes, we're still early on, for sure. | direct | [
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fc24b00e79f1bf5a0dd525abef250fb4 | Did the Pennsylvania rate base growth, is that lower versus your previous disclosure? And if so, why? | Yeah. Durgesh, in terms of the overall investment in the PA business, as we've indicated, we are -- we have added, on a like-for-like basis, additional capital in the plan. I think what you might be seeing is the effect of 2021's capital plan versus 2025's capital plan. and so, we were at $3.2 billion of spend this yea... | direct | [
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d9a1fef9b335d7ec47a20a1e838eba4e | Got it. OK. So I guess, essentially, it's allocating more capital toward Kentucky and Pennsylvania as a larger base, right? Is that sort of what I heard? Your starting point in Pennsylvania is a larger base, and then going forward, there's higher share of capital toward Kentucky? | Yeah. I think that's right. | direct | [
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2b779521dea93afcf95337aced7f1e48 | Just any color, Vince, on the U.K. sale process? I mean, are you still in discussion phases? Is that fair to assume here or just any sort of updates since the last call we had? | Yeah. No real updates, Durgesh. I would just say that, as you can appreciate, this is a very competitive and confidential process. So not really in a position to provide additional details regarding the specific process.
As I indicated in my opening remarks, the process is continuing to progress as we would have expec... | intermediate | [
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291c610a477d829f69eebe74536c946a | Just on the -- when you first talked about selling the U.K. business, you did talk about the idea of just selling it for cash, the potential maybe like asset swaps being part of it. Is that still on the table potentially, or is that less likely now? | Well, I would just -- unfortunately, I don't think that's one I'm going to be able to get into a lot of detail on, Steve. Just given where we are in the process, I just don't think it's appropriate at this stage to get into any details certainly on what potential buyers are bidding, yes. | fully_evasive | [
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4c97a082ab4548b28386863094befc1e | Second question that I think you might be able to answer. So at some point, you are going to announce an outcome of this. Can you just remind us expected timing for like how long from announcement to closing, to actually get the money if you're getting money? My recollection is you've talked about it being pretty fast ... | Yeah. It's certainly quicker in the U.K. than it is in the U.S. We do have a few required approvals that we will need to get as part of this process that we didn't need to get when we acquired Central Networks.
So I think I had indicated in the past that we had closed that transaction from announcement to signing in a... | direct | [
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ac9bbf1801c5c72d0d2201ec9183ea92 | OK. And then, I guess, just in thinking about -- in terms of use of proceeds, I guess, you're going to certainly have, in theory, if this is cash, a lot of cash to you. Just is there -- are you willing to just sit on cash for a while if you need to? Or just how are you thinking about timing of putting money to work? | Yeah. So let me just reiterate kind of the four main areas that we've talked about in terms of deploying the use of proceeds, and then I'll ask Joe maybe to talk about timing. But the first of those, which we've been pretty clear about, is strengthening the balance sheet. And again, that would be geared toward targetin... | intermediate | [
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ba20e061cf43c376f5d40fb326c66dea | If I think about a year from now, the 4Q 2021 earnings call slide deck, do you think PPL has fully completed the transition by then? Or do you think that the 2022 was a transition year for PPL? | Boy, I really don't want to speculate on that at this point, Anthony. Certainly, we will be looking to maximize the use of proceeds to really maximize the shareholder value there, right? And whether that entails something on the buy side here in the U.S. or renewables or efficiently deploying it to the balance sheet, t... | fully_evasive | [
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d65375e7114879f0e689c9624fa93f47 | And I guess just one last follow-up, and I apologize if you hit this before. I believe you're mentioning close to -- is it $400 million of AMI investment in Kentucky. I guess, is that included in your capex? And I think previously, maybe AMI, and maybe my jurisdiction is wrong, was very challenging in Kentucky. Has tha... | Yeah. So of the $400 million increase in the capital plan that we have for Kentucky, $325 million of that is for the AMI investment. So yes, the AMI is in our updated capital plan. We are taking a slightly different approach to the CPCN for this project.
Paul, do you want to maybe just touch upon how we're thinking ab... | direct | [
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f7b94a60ae8514cfb25a20bfd816bf60 | I just wanted to touch on, I guess, margins for the quarter. I think EBITDA margin might have actually been an all time record for you. So just maybe go through maybe the puts and takes there. And as we look at brand by brand, I mean, I guess where did the brand sit in that general vicinity of getting to the 20% plus t... | Yes. With respect to the performance across the portfolio, I would tell you that the Malibu brand having been here for the longest, has the highest margins on a year-over-year basis. We're seeing strength across the business. The one place where there's a little bit of margin pressure is in Maverick, but that's because... | direct | [
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723dc0e5446a95788b00d80d33cc8eba | And then maybe just a question on the guidance. I mean, I think if I'm doing my math correctly, it would imply that there's a sequential step down in production in margins. Maybe talk us through that. Is that just seasonality? Was there something in the third quarter that was a bit of an anomaly and we see kind of a re... | Yes. What I would tell you is Q4 is setting up similar to Q3 and what we said last quarter was with our guidance for Q3 was that, hey, look, there's some upside here. And we contrasted that to the prior year where we said, look, there's not a lot of upside. This is what our guide. And we don't think that there's a lot ... | direct | [
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5f10a691dcbfb2ab6bd7d7d5f6aa7523 | So just with average unit prices continuing to increase I guess year over year sequentially, just hoping you could once again, address the question of how high unit prices can continue to expand at this point without seeing significant demand destruction? I guess what your expectation for prices are once supply kind of... | Yes. Rudy, I think first of all, I would point out that the ASPs are being driven by what the customer wants. If that larger boat, it's the boat with more features, more options on it. So that's the primary driver. And as long as that's in place, you can continue to see those ASPs grow. We have been in a scenario that ... | intermediate | [
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70ad2c920de03f9a541f0681fd8d2b59 | And then just secondly, I guess could you just provide some further color on AmTech. I guess, how quickly you've been able to integrate it, how quickly it's been able to kind of ramp? And just how much it kind of benefited your ability to increase production volumes during this quarter? | Well, we've been benefited by the fact that we were in AmTech and really helping to run it going all the way back to last August. And so we were able to start putting some of our processes in place even back then, as we helped them to become better. With the acquisition, I think we were very well staged to very quickly... | intermediate | [
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b9574043dd21b4a98ac914493628e093 | I guess, first question on supply chain, I want to go back to something, you mentioned earlier, Wayne, is that the uncertainty and lack of visibility has increased, I guess, over the last three to five weeks. If we look at your revenue guide, the original guide to the back half was revenue accelerating in Q4, slightly ... | It's really a more of a continuation of the same, Joe. It's been extremely unpredictable. You don't know from a week to week basis, what's going to be short? One thing that I would point to though is the shutdown in Shanghai has absolutely had an impact. And I think that if as long as China can continue to remain somew... | direct | [
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29ca7a988a0bb6537484abb3b64c9642 | OK. That's helpful. And maybe on pricing, obviously ASPs up 21, I know a lot of that was mixed, but maybe help us understand how much of that was base price increases. And I know you guys put in surcharges a few months ago and I guess, more importantly, what sort of price increases in terms of MSRP should be expect fro... | So in terms of the mix, the components of mix, it gets a bit complicated just across the business units, as you mix up with respect to Malibu and Cobalt, obviously let's use Cobalt example. The new R Series is a meaningfully more expensive model that replaced the R3, R5, R7 with R4, R6, R8. And so you have a bit of tai... | intermediate | [
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0422a2f670ee930c9da89f68d96a041c | I guess, I'm mostly curious to hear what didn't go as expected this quarter, because it looks like things really turned out quite a bit better than was anticipated? | No, I think you captured it well, it was a blowout quarter. It's hard to imagine why our stocks were set. | fully_evasive | [
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0a53df68c01906ab9e6ea55630658d17 | OK. Is there any insight that you have to like the surcharges and maybe how those are being absorbed and how you think about whether to increase them or prune them back over time? | Yes. It's been pretty remarkable. We've not seen any pushback at all on the surcharges. And I think that we thought long and hard about do we do a price increase? Do we do a surcharge? What are the benefits of each of those? And I think that from a surcharge standpoint, as well as the amount, we struck a great balance.... | direct | [
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d9610000c0fd9fabd2a23a60cc30f7d4 | First question, Brunswick, they called out some weather impacts in the quarter. Did you see anything similar to that? And then what was your retail performance in the quarter? | Yes, we did. We heard it from our northern dealers and it's been, I think a colder weather environment up north and similar to a lot of other years like this, we see it go from south to north. So there was some -- I think there was some impact on the retail side in the north that seems to have turned that first week of... | direct | [
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f06917bfea8685ee6914ff37d574c4b1 | And then given the capacity expansion of Maverick, Malibu Electronics coming online, what could your annual production run rate look like? | We've talked about it in the past a little bit without the supply chain, it can easily run. We feel like 10,000 to 12,000. | direct | [
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d2204e776857fcc2ece40506907ec1e6 | I wanted to get a sense for a little bit more what was in the manufacturing supplemental, whether there's anything to, kind of, pay attention to there. And then with respect to supply, can you give us a little bit more characterization in terms of what you have on hand for the launch? And does the manufacturing supplem... | On the manufacturing supplement, as we stated before, we had filed a CBE 30, which we are awaiting the FDA decision to accept the actual filing and then approve it. We had mentioned that there is a possibility if the FDA approves it or accepts it on time, there is a possibility of an earlier-than-expected approval. But... | direct | [
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387f8da5289d4404a8245240a301371b | How quickly post an approval of the supplement would you be able to launch just in terms of getting inventory out into the channel? Would you need a few weeks? And then maybe secondly, since approval, and based on your discussions with prescribers since that approval, do you think there's any aspect of MPOWERED that ha... | First and foremost, on the supply availability, I believe, in our prepared remarks, we have said that we would be able to get the commercial supply to our 3PL or specialty pharmacies by the end of this quarter. So I think that is still our expectation. Whether we can release that commercial supply into the marketplace,... | direct | [
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d8f4fc31ddc58b986bd3043e6f10b92a | Just curious in terms of the early days that you've been interacting with physicians post approval, just what point around MYCAPSSA or sort of points of feedback are you -- have you been getting from clinicians in terms of what they're most excited about, the types of patients that are most interested in potentially sw... | The overarching response to our introduction of MYCAPSSA and the approval has been very encouraging, both from HCPs patients and payers. And especially in the COVID-19 environment, this is, in particular, quite an important option to consider for patients. The field sales organization has just been out there now since ... | intermediate | [
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78c4eb065ce4f7024340e689d44e4f31 | In terms of MPOWERED, obviously, Europe has had much greater success in terms of controlling the virus. So at this point, is the study really, sort of, executing to plan? And some of the modifications that you had anticipated, are those not really -- or put into place, those not having as big an effect or not as needed... | We had 92 patients randomized as responders. And then 85 of them have already completed, and I want to remind folks here that the EMA requirement, the minimum requirement for the randomization was 80 patients. So we're well above that particular mark, and we have four patients active. And it is a global trial, so it's ... | direct | [
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5f9fbac8655a3f16327be967e3736b5a | With regard to the manufacturing supplement, have you had any interactions with the FDA following the submission in June? Do you have a sense whether a site inspection would be required? | Obviously, there's ongoing interactions with the FDA that we specifically don't comment on. However, with regard to the inspection, remember, we had mentioned this before that given the recent inspection history of the primary API supplier, we do not believe this is going to be the case. However, we always caveat that ... | intermediate | [
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f00ef74f0caa9b9bd824ebabc01eff1f | And with regard to the two patients who did not complete the 48-week open-label extension, what are the factors due to which they could not complete? And any clarity with regard to what time point they discontinued the trial? | We haven't given any further clarification other than what we've released in the press release and the script today. We will be giving a very complete overview of the data. We're very pleased with it in the upcoming academic setting, and we'll publish it soon. We have not gotten, at this point, into any further details... | fully_evasive | [
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c9871a6df335080083256e5482443d1a | And finally, one housekeeping question with regard to the supply of the specialty pharmacy. If you get approval for the manufacturing supplement before Q3, I think in last quarter, you said that you'll be recognizing revenues once you supply to the specialty pharmacy. So if the approval comes through in Q3, you'll be r... | So Kumar, if there's shipment to the specialty pharmacy in Q3, that's the revenue recognition event for the company. | direct | [
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19ec9b0ce5ce3b1361b988b284cbbc05 | I guess, maybe the first question just on capital, Dean mentioned plans to resume share buybacks. Give us a sense of, one, as you think about going through that authorization, how -- is there a certain level in terms of overall capital payout that you are targeting and what's the binding constraint when you think about... | Yeah. So the cut of the measurements that we look at are the -- is the Tier 1 leverage ratio. We've stated in the past that we'd like to stay above 7%. So we'll probably keep a little bit of a room above that, but that would be one measurement that would be kind of in consideration for how much we do in buybacks. In te... | direct | [
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e5e65443f1ac3b0b877cb83942e435ad | Understood. And I guess just on the rate environment on the NII. So Dean, thanks again for the guidance relatively clear. Two things, one, as you think about -- just remind us what's the PPP fees remaining at the end of the second quarter and your expectations around whether or not most of it gets accreted this year? | Yeah. So we have $14.5 million remaining in fees. And so, this would be both the 2020 and 2021 vintages. We're looking at pretty elevated level, so something similar to what we had in the second quarter in terms of what would pay off and then, there is some that we think might bleed into 2022, but generally most of it ... | direct | [
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815b83912000577beab83d7f60d59a32 | All right. So it should be something in that vicinity. Got it. And just I guess last question, Peter, around -- so you shared some statistics around the macro outlook. From what we understand, it seems like international travel is one area that's still missing. Is there anything else that you think about in terms of wh... | Yeah. So I think international is yet to bounce back. So what's interesting is we're nearly back to full strength in terms of visitor traffic and that's without the international market, which historically is, call it, a third of our marketplace. The benefit to that travelers, they are a bit higher spending. So I think... | direct | [
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6e1eba57b2a2be8a128a624eab8997d0 | Peter, just a follow-on to that and not to be overly, I guess, conservative, but I'm just trying to get a sense for the local sentiment, if there is any likelihood of restrictions coming back on with variance. And I know that around the July 4 holiday, that lifted the restrictions on vaccinated folks, but any underway ... | Well, obviously, we in this marketplace like just about every place else in the country are concerned. And what we're seeing from the variance and the case counts. I've not heard any discussion around reapplying some of our earlier remedies. So no -- nothing that I'm aware of, but obviously if things continue to trend ... | direct | [
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1e61612baa8b77d482d9ad6f95e62423 | Maybe just a housekeeping kind of maintenance, Dean, I appreciate the guidance on expenses just noted that the occupancy and data levels where we're pretty low linked quarter. I guess, baked into that guidance, is that sustainable on those line items? And I guess, if there is anything that discuss on those why they wer... | Yeah. So the property sale came through in that line, so the $3.1 million. So you have to adjust for that. And then we -- in the second quarter, we did have a little bit better R&M expense run level. So that's a little bit uncertain, but those were kind of the two reasons why the occupancy level was much lower in the s... | direct | [
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72a27cdb2d47122554be137051ba6bf1 | Dean, question on securities purchases. You added a $1 billion. Just curious, what you purchased? And then with rates having come in [Phonetic], I mean what's the appetite for more purchases to continue? | So, we've been purchasing kind of what we've have been in the past, which were mortgage-backed securities. We did purchase some corporates. Those are kind of the two major categories, but more biased toward the mortgage-backs. And the average rate that we got in the second quarter was about 1.5%. And then with the drop... | direct | [
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d7fad6dc94af32e138975d2d89350fb6 | Got it. Okay. So, I guess, you have the $910 million of cash. I mean, is there a level that you want to manage that down toward? And obviously, loan growth will help with some of that and probably with some deposit outflows, but what level would you hope to get this down to? | Well, with the -- it would be probably about $250 million to maybe $300 million. And the reason for that is that we do have a lot of cash flow coming off the portfolio. So, from a liquidity standpoint, we're still going to have lots of cash flow that we can reinvest into loans -- for loan growth. So, we can maintain a ... | direct | [
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1ce8cf3b9df57e29b729a8a50b35be0f | Got it. Okay. That's helpful. And speaking out about loan growth, I mean, you had good commercial growth, good consumer growth here this quarter, how are pipeline sitting as we enter the third quarter? | Pipelines are looking pretty good, so both consumer and commercial. Commercial real estate had a good quarter. They anticipate having a good back half of this year. Residential was strong. So, residential through the first half of the year did $1 billion in production to lead all local providers. So feel good about tha... | direct | [
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0a386726a2562e3715091456fa08df82 | Peter, I wanted to chat about the economy just a little bit. You gave some really great anecdotes there which I love, because it helps me get a sense for it since you obviously have your feet on the ground. I just wanted to get a sense for how you view the rebound in tourism versus how you view the rebound in the econo... | Yeah. So, that's a good question. So, I would say that, obviously, the visitor industry is a big component of the local economy. But I think what we found through the pandemic is it's as big as it is there other factors that drive our local economy as well. And so, construction driven by the health of the real estate s... | direct | [
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cfe28f247ea77700e7c3ccecf94ac2c9 | Okay. And when you say group and incentive travelers, do you mean conferences and things like that, or is it a different type of traveler you're talking about? | It's conferences. It's also large corporations rewarding star sales performers and things like that. It's a big segment of the industry. | direct | [
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e6460505eb9af6ec1ad218dc94994548 | Okay. And then, when you think about the economy and the unemployment rate where it's at -- and I realize this is a very hard discussion -- a very hard question to quantify, but I'm just looking for your viewpoint on this. When you think about all of that, if you think about people who maybe haven't entered to workforc... | Well, that's the $64,000 question, Jackie. I don't know. I mean, it is a fact that lots of small businesses and large businesses in the visitor industry and elsewhere are just having a tough time getting people to come back. And so, you're right, perversely lack of demand for work is in a very perverse way, holding bac... | intermediate | [
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dbdc42985f9ade760ac575737d6f4028 | I wondered what -- Dean, thank you for the accelerated amortization. I just wanted to confirm what the -- just the regular amortization piece of that was on the fees? | Yes, so it was $2.1 million. | direct | [
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a4bdf25c605aa6d37d45a2c904379622 | Hoping that we could just go back to occupancy, wondering how we should be thinking about that, Dean, just from the standpoint of run rate expense? And maybe can you update us, I think, beginning of the year, you are going to take branches down to 50 by the end of the year, and we're sitting at 54. Just help us think a... | Well, I think we should think holistically in terms of lower occupancy expense overtime. And so we have been operating -- our branch count has jumped around through the pandemic, just based on where the demand for in-person banking is happening. And so we're down to 50% [Phonetic], I want to say, but 54% [Phonetic] tec... | intermediate | [
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77ff8ccc56f4209404e6406924322de4 | Okay. Perfect. Okay. And then, the FHLB prepay of $3.2 million, how much was actually prepaid and what was the cost and about win [Phonetic] in the quarter if you have it? | The total amount was $100 million. And I want to say it's kind of almost mid-quarter. | intermediate | [
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c4b018ba96a17c437c498dc17c743807 | 1.3%, OK. And then, do you plan to do any more, or was that, that kind of it? | Yeah. I think it's going to be opportunistic. This one was opportunistic because of the benefits that we got out of it. So as we see opportunities in the future, we may elect to reduce further.
Yeah. This was the nice opportunity, Laurie because the gain on securities basically offset the cost of accelerating the prep... | direct | [
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950a28502a51cb569d1e8beeb229119f | Makes sense. Okay. And then, just looking at the other expense line, so $17 million this quarter compared to $30 million last quarter. Obviously, the $17 million contain the FHLB prepay. I backed that out, it was $14 million, then I backed out the contactless card roll-out, it was $11 million. So $11 million last quart... | Well, really contactless card roll-out actually showed up in the data processing line. So the adjustment to other is the only for the second quarter. | intermediate | [
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baab730b4d7630257d89966d71de88be | So Adam it'd be great -- really got two questions. I'll just ask them upfront here. One it seems like you have some really good momentum coming out of first quarter. It'd be great to get a sense of how it progressed and really importantly how you exited and the trends into second quarter here so far? And then maybe jus... | Yes. Thanks, Robbie. Those are great questions. So I'll start with the first and sort of the trends. There's no question that some of our business in the early weeks of the quarter in January when things were looking a little more difficult or feeling a little more difficult with the pandemic were a little lighter. But... | intermediate | [
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a0fe1d229cb77a1f7d6eaead406387a9 | Can you comment on the timing? Is this the next-generation workhorse kind of aspiration catheter which will kind of replace ACE68, JET seven? And kind of what are the benefits of this catheter over current catheters? | Yes. Thanks, Larry. So we -- in the prepared remarks and I realize everyone's got a busy day and other companies. So in my prepared remarks, I commented that we're hoping to be able to have that product in a couple of months RED62. So RED62 is obviously a little smaller than the other catheters and we think it will pla... | intermediate | [
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b76f40249458e8e8ea0e02ee1c05b08f | Indigo has historically been stronger I think on the arterial side than the venous side. In the past it was about two-thirds to one-third in favor of arterial. How do you see that changing in 2021 and beyond? And can you put the launch of Lightning seven at the end of Q1 in context for us? | Yes. No, that's a really good question. And if I had different sales teams selling the -- Lightning seven versus Lightning 12, I would absolutely use your question to challenge both of them to outdo each other. But since it's the same team, I can't get away with that. We look at those two products really as complementa... | intermediate | [
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62a49f56625037e531844c3918cf9ea2 | First, just a question on guidance. If I'm assuming kind of, relatively small sequential increases in the Vascular segment, maybe that's arguably a little conservative given the strength in the product launches coming up. It kind of -- it seems like it implies a low double-digit growth rate is implied in guidance for t... | Hey, Brandon good to hear your voice. It's Jason. So I'll take that one, and then maybe Adam can add on, if he wants to. So we don't obviously break out the growth expectations between Vascular and Neuro. And so the commentary was meant to help sort of on a -- both a year-over-year and a quarter-over-quarter basis. I t... | intermediate | [
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a1f3198902fdc0685f22a0a6316ce4c5 | And on the Vascular side, this business just continues to perform really well. I was curious, if you could kind of give us on the -- in the field what's kind of different than a year ago? A year ago, the business was growing really well on both a year-over-year basis and a sequential basis. And it seems like in the las... | Yeah. Brandon thanks. It's a great question. A couple of things have changed and maybe it's sort of a combination of all of this. The first and most obvious, of course is, the launch of our new catheters in Lightning. The combination of those really with the technology in those catheters to allow them to perform the wa... | direct | [
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eb10edb424a0e1990c0d0d08eb634421 | Just want to follow-up on, two things, if OK. The first one is on China, and you guys had put in some disclosures of a pretty robust amount of revenue from China in the fourth quarter. I'm just curious, as to kind of how that played out in the first quarter? Did you see sort of the same level of revenue? And then maybe... | Yeah. Thanks Bob. It's a great question. As we announced -- when we had that announced quarter the deal we signed with Genesis is really a multifaceted deal that -- around five of our Neuro products. And we think it has a great potential for us over the next number of years. But we also -- as I said in the prepared rem... | intermediate | [
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0058a01b2a07077d7df92f4a54139122 | So, two other things on that. One is just going back to the 2019 Analyst Day, you guys highlighted a lot of new opportunities. I mean, China I realized as something that was going to be over many, many years, but you did highlight it as a multi-billion-dollar opportunity. And that's what I'm trying to dig here a little... | Yes. So, great questions. So we're not going to start calling out specific numbers in our markets, but the business needless to say for us in China, we think is quite substantial. And again, quarter-by-quarter we're not going to call out those specific numbers, but it performed again this quarter. We called that out in... | intermediate | [
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d40e50759c95da195dd50eac989dceb2 | I'd love to get a little more color on March and April kind of versus early Q1. And Derrick, it looks like the guidance for Q2 is basically unchanged versus three months ago, still in line with Q4. But you noticed or you mentioned the recovery leading indicators. So I'd love to see why you're not updating the Q2 guidan... | Sure, Travis. Thanks for that question. I'll take the latter part on guidance and Glen can provide some of the commentary that we saw through the quarter into Q2. So Travis, we're feeling very good about our business based on the recovery that we saw in the back half of Q1, right? All the early indicators suggest an en... | direct | [
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d52c8dcf1508eef6542013c5e065d8f8 | When you think about the staffing constraints, just curious what you're seeing on the ground. Is that still a pretty big constraint now and how you're expecting that to improve over the course of the year? | Yeah. So we have definitely seen -- it hits in a lot of different ways, and I'm sure you hear it a lot. I mean, we're not in that many centers, right? So we're at about in the low 200s right now. And in the centers that we're in, the way that it impacts us is in multiple ways actually. Physicians and some of the treati... | direct | [
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c41f7d42be9cfb414d5b9a7ea6e2e6a7 | I wanted to follow up a bit on the staffing issue, but really ask just what you've seen from an account productivity standpoint coming out of this wave versus what you've seen in prior ways. And again, just factoring in what you're seeing on the ground from a staffing standpoint, potentially limiting greater accelerati... | Yeah. Well, we report on productivity really on a quarterly basis and productivity was significantly impacted in the first quarter, as you might imagine. So it was quite a bit down from sort of where we had been running through the prior waves, which is really just explained, I think, entirely by the fact that no other... | direct | [
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fa169da550547238e039d381a418bbdc | If I could follow up as well, specifically on referring physician awareness and how you would really quantify that at this point. And as you look forward, as COVID is pulling back, just the initiatives you have in place to continue to drive referring physician awareness higher? | Thank you for that question, Cecilia. It's a very important and insightful question. Obviously, over the long haul, this business is going to really grow based on account productivity and 80% of patients are coming through -- right today, 80% of our patients that get treated are coming through referring physicians. And... | intermediate | [
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d083b0aee4a8afe1d8f7d63ff67b9b66 | So I just have a question on the Japanese regulatory submission. Has there been any interaction or feedback with the Japanese authorities thus far? And then in terms of any structural dynamics or anything pre or post off that we should be thinking about for when those up for launches in that market that would make the ... | The Japanese regulatory process has been remarkably and consistently interactive. So we have had -- I don't -- I would say -- I haven't been directly involved, but I would say we are interacting weekly. So one way or another. So it's been great. And we've gotten questions. We've addressed those questions. We've schedul... | direct | [
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cff0be7de5a7ba0a7af54fd103cb2d73 | Just touching on like new roles as you mentioned in Japan, but moving over to new tire tours in the U.S. and Europe, as you've mentioned. And through these calls, could you just give an update on whether there have been any other notable adds, I guess, outside of Japan in the past few months? And then what's the plan t... | So I think you were asking, Joe, about new territory adds outside the U.S. and within the U.S. In Q1, we did not add any new territories either outside of the U.S. or within the U.S. So we still have 34 active territories outside the U.S. and 54 in the U.S. We continue, as we mentioned now in the last call, to plan to ... | direct | [
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4c5d792f1f8554979026eb1f5141f5d0 | Can you just talk about what early demand has been like at the new training facility and then just give maybe any general commentary on what the physician training pipeline is like? | Demand. So things have been -- it's been great, I think. We opened it up. I think we're doing a training class today, I think, at that new facility in the Midwest. I think that is our second that we have done so far since we've opened it up. The first returns from the first training program was that the guy who's runni... | intermediate | [
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d82b5549b254708bb06400deee7c7317 | I'm just curious -- interested to hear how you're thinking about capital allocation, given the recent raise. How are you balancing investment sales and marketing versus the potential for inorganic M&A, just given the recent growth you're seeing in ID verification? | Yeah, I think, we just tilt it up the converted cash since the beginning of February so it's still relatively fresh. And you know, we talked about the use of proceeds, at that point, primarily focused on -- primarily focused on acquisition. I think that's, you know, No. 1 on the list, No. 2 on the list, No. 3 on the li... | direct | [
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c4622a291eb0490d3a737d1a0aa11f28 | Just curious if there's any update on the CFO search and how the process is tracking. | The process continues to roll along. It's a great question and, you know, we're -- we're very fortunate to have Jeff and a safe set of hands here to help us we're going through this. I would kind of set your expectation, we're still probably a couple of months away from getting that -- get that fully resolved but stay ... | intermediate | [
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15688bd722388daf3d79a9b067781823 | Maybe just first on like sales force positioning as we move toward later half of this year. Are there any thoughts about certain industries that use cases where it's generally expected to see a lot of strong growth? Can you just talk about that? | Yeah, you know, I think we went into this year with a really clear and it was very targeted and focused approach to our go-to-market not just domestically but internationally as well where we had, you know, focused on specific segments, financial services, fintech, marketplace accounts. And then, the top targets with -... | intermediate | [
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bb590c4d240cb2a6feed8ed503ab9707 | And just on mobile deposit, it's safe to say that some of that kind of rolls for the way those contracts are structured with resellers where the benefit we saw in the last month or so is going to still kind of push forward a quarter or two? | Oh, yeah. I'll let Jeff add some comments on how that revenue model works.But, yeah, I think that what the system is and everything that's been issued by the government. I mean, that -- that's out there but we haven't necessarily seen that kind of walk its way through the resellers in the core service providers to actu... | intermediate | [
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da6a52c497729a13bff0272e808cdd61 | Just -- just on identity on the M&A pipeline. Could you maybe size that up and -- and maybe just talk about, you know, how your offering is different from some of the bureaus that have done deals like Kount, Mastercard debit card. Just talk about sort of the pipeline how your offering differs and is fragmentation and o... | Yeah, Hamzah. I think you start with the answer right there. You know identity is a -- it is still in early -- digital identity particularly is in early stage category. It's fast-growing, it's extremely fragmented, and for the things that we do, we find it to be very localized, meaning, you know, the way that identity ... | intermediate | [
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f45025f9e4daffbbe034a1ba5848304c | On the deposit side, do you have sort of an idea of where adoption sits today? I know you mentioned post-COVID -- there's a clearly greater adoption during COVID and maybe post-COVID too, but maybe touch on where adoption sits. And are you seeing some of the smaller banks also increasingly use mobile deposits? I know y... | Yes. Let me take the back half of that question first. Small bank, big bank, community bank, regional bank, credit union, you know, digital bank, big bank, they all use mobile deposit. That's the 7,500 financial institutions represent, you know, the head of the snake and the long tail of the U.S. financial industry. So... | intermediate | [
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3a5497c688e86116d2fee149b7460a13 | Jeff, starting with you in your prepared remarks, you noted that some of the 2Q transactional revenues likely won't repeat next quarter. I just wonder if you could clarify why this revenue is likely not to repeat? Why some of it anyways won't repeat? | Sure. So in the second quarter, we had a handful of customers that just reached higher transaction levels that are more likely to be not repetitive, maybe one time in this quarter. So they may not repeat next quarter. So as my, you know, really the crux of my point there. There's a specific transaction to specific cust... | direct | [
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aeb0fa0846f70209c0ce82d45d390271 | Max, in the past you've noted that there may be some opportunities for price increases in mobile deposit. I was wondering if that's still an ongoing initiative at the company and whether you've had success on that front. | Yeah, that's -- thanks for bringing us back to that, Mark. You know, whether it's price increases or just general improved economics within these contracts as they come up for renewal and renegotiation, you know, we've talked about this consistently over the course of the last six or seven quarters that we've taken a f... | intermediate | [
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a92e19abafbe4c37617d8e3223fd1e46 | With respect to your ID business. I'm just wondering if you saw any strengths or weaknesses in a particular geography? | Last quarter we saw strength in just about every geography. It was a banger of a quarter. I know Jeff touched on some of these one-time things but, you know, when you take the really good year we had in FY '20, the strong quarter we had in Q1, and now an even stronger quarter in Q2, you know, we can feel it. It's there... | direct | [
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f09c9beb2892830da59f0ddc4834535f | And Rodney I wish you a fast recovery. And so if you can help us with the positioning of the core Monster which I understand correct -- if I understand correctly it was down 2.4% on outlets and declined 5% in convenience do you believe that is related to the promotional environment of your main competitor? Or just a fu... | I'll take that because of -- Hilton I think that if you look at the category what we've noticed is you've had an impact on all of the -- pretty much on all of the SKUs that are -- have been existing in the market over the past couple of months. You're seeing the increases coming from us and our main competitor coming f... | intermediate | [
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1b73d75e14e6fc2a190aadb7463ef394 | Maybe a little bit more on the U.S. can you talk about growth in the quarter coming in a touch below 3% versus the Nielsen data over the course of the quarter pointing closer to 6%? I think we all know you had tough comparisons in the year-ago quarter but at the same time there was an extra selling day this quarter. So... | So let me start with your first question. When you look at Nielsen and you look at our own financial numbers you cannot draw an exact interpolation from one to the other. Nielsen sells out ourselves sells to the distributors the bottlers. We have a slew of unmeasured channels that I mentioned. And while it's a good ind... | intermediate | [
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84501b014c51ead80891f234464c8534 | Tom good to hear from you on the call today. So I guess I wanted to ask about gross margin. International continues to be a bit of a sore spot there. U.S. again continue to be pretty good. So you touched on some of the supply chain issues in EMEA having been resolved and kind of talking directionally to stabilization o... | It's not really a black box. I mean we sell concentrates at high margins and through the strategic brands and we sell finished products at different margins that really are based for a number of factors on the relationships we have developed with the bottlers and distributors in various countries and the cost of produc... | intermediate | [
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bcca6463778f833428b5e0080f537bef | Alex, I wanted to go back to a comment that you made in sort of your earlier remarks about the expectation for sort of improvement in the second half. And how much of that maybe is tied to specific programs, whether it's around 5G or some things like that, and how much of that is maybe your expectation for either an im... | Very good question, John. And it is a mix. Certainly in the last couple of quarters, we've seen declining PMI, tougher certainly exchange rate situation. And those I think we'll past from a headwind point of view as we go into Q3, into Q4. That's my expectation. We had a tough Q4 because of that and in a relatively cha... | direct | [
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80ec7d42b3dc00b52e94526e61fc16cd | And then maybe just as a follow-up to that, if you could just spend a moment on sort of the automotive group. That had been an area that obviously -- had been an area of strength for a number of quarters for you. Certainly, we all are aware of kind of what those headline unit numbers have been doing. But it seem like y... | I think the whole automotive industry is, as you well know, John, has gone through a real transition at this point in time. There has been a very definite significant investments in electrification and also in the autonomy investments that are going on right now. We are seeing, as you see the headlines, a lot of the au... | intermediate | [
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d6f9102d2f764e87e75b99e27b1a5ef3 | And then maybe if I could just ask one -- one last one and then I'll jump out of the queue here. Is there a difference by geography in terms of how those order sizes skew? I'm just trying I guess to get a sense of if certain geographies are a little bit more weighted toward your sub $20,000 order size versus other geog... | Hi, John. This is Eric. I mean in general, as you've seen across all the geographies, we've had a shift that's been happening over a number of years now toward the larger orders, that's now approximately 60% of our business. And it continues to be a growth driver. It's growing faster than the rest of the business in ev... | intermediate | [
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faea2b8fcce595b755bf1e62bffd8431 | Alex, just to follow up on the software accounting change, did that impact the Americas business, and also -- is that also what we're seeing in the maintenance software revenue that declined sequentially? Because I guess what I'm looking at is the Americas business declined 16% quarter-to-quarter, typically it's half t... | Yes. (multiple speakers) So first of all (inaudible)
The software accounting change impact was the highest in the Americas and so that...
Again, if you make apples-to-apples comparison in order growth, it was high-single digits in the Americas.
That's -- sorry, that's a year-over-year number, that's correct, over Q1... | direct | [
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3a405b4337a9574e2c2b5433855b33a7 | Okay. And when you look at EMEIA, again, the weakness there, I guess maybe you suggested it was more PMI driven, that's what we saw the weakest number. Is there any particular market there? I mean, did auto for instance, automotive was that softer in EMEIA or any particular end market that you can point to versus the P... | Yes. So I'll break it down a couple of ways. So if we look at I think it was about a 3% impact in EMEIA from currency.
And then Rick, you follow our stock for a long time, so you know it's really, really well. But PMI of 44 (ph) in Germany is definitely a troubling data point for our business.
And certainly that's he... | direct | [
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] | A |
84db9ce1e388d15040e3d1e2ccf81a02 | Okay. Yes. Okay. And then, could I just ask like, -- I think Alex, you were mentioning that kind of 5G business when we get around production test is going to start to help us maybe later this year, but certainly in 2020. I'm guessing some of the orders -- the larger orders might have that kind of a shipping timing and... | (multiple speakers) I'm just to trying to answer all your elements. (inaudible)
(inaudible) just on the first point, what we count as orders in the quarter are products that customer wants to take delivery off in the quarter. So everything we're talking about there...
...products the customer wants delivery of in Q1.... | direct | [
"direct",
"intermediate",
"fully_evasive"
] | A |
4f259adecff82e46f900f7bbcb33b1a6 | And just -- I just want to circle back though, but your benefit on the 5G is around two things, one is around semi-chip test around mixed signal or analog or, I mean, are you going to play more on the RF chip side test or is your -- is NATI's benefit is going to be more around handset production test? Can you separate ... | Our real focus is on the former and then later down the cycle...
...we will certainly be participating, and as we have for many years in the ecosystem for testing of all of the various elements and applications around the handset.
And the (inaudible) in domain. | direct | [
"direct",
"intermediate",
"fully_evasive"
] | A |
2cc9982d81d608fd5528ce6a8b1cc61e | Yes. And then just one last question, may I'll get one to Karen here. What was the FTE in the quarter and what is the plan there for the full-year? | Hi, Rick. We're relatively flat, sequentially from a headcount perspective, you can expect us to stay about that down a little bit continuing through the year. | intermediate | [
"direct",
"intermediate",
"fully_evasive"
] | B |
68854971b3ec10268a9c8bee5db15215 | Yes. Hi. Two questions. The first is, I mean, you obviously mentioned about the industrial economic indices. I think my question is more in terms of as we head into the back half, head into next year, are there any product cycles specific catalyst that we need to track and monitor because the industrial and economic in... | Yes. I'll make a comment on that, Vijay. It's is Eric. Yes. And then this is a -- I'll put in another quick plug for NI Week in the Investor Conference. That obviously is a key launching platform for us for a set of new product initiatives. I gave some color on our preview on a few of those and clearly 5G is a big port... | direct | [
"direct",
"intermediate",
"fully_evasive"
] | A |
cceae9afffc5962cde0e92b72d893e50 | Yes. Perfect. And then the quick follow on would be, we do have meaningful revenue exposure in Europe and Asia. So my question there is, are there any trends or catalysts that are fundamentally different in the EMEIA, APAC versus the US, so that we get kind of a geographic contrast of once again what we need to monitor... | I think when we look at our business geographically, it's very diversified, which is great strength. It's relatively uniform geographically, but it does have concentrations. For example, in Taiwan, it's heavy semiconductor; in Germany, it's very heavy automotive; in Japan, it's quite heavy automotive. When you break do... | direct | [
"direct",
"intermediate",
"fully_evasive"
] | A |
b63354ce43ccc0a235f1cbd98de9189c | Yes, perfect. The final question would be for Karen. How should we think of OpEx as percentage of revenues through rest of the year? | Vijay, yes, we've been pretty transparent with our operating model and our goal is to stay true to what we presented at NI Week, last year. So as we model out revenue growth or as you make assumptions on revenue growth, please refer back to that model and then we'll be providing more context and color on that in May ag... | intermediate | [
"direct",
"intermediate",
"fully_evasive"
] | B |
f35ffe410158d1788c06167b47771078 | My first question is regarding the user growth. First half, the user growth is very strong. May I know -- can you share with us the quality and retention and the user profile of the new user growth in first half and about the second half growth and also next year, what is the key focuses of your strategy of user growth... | Last year, we have reinforced and reaffirmed user growth will be our key strategic focus and we have been carrying out the strategy efficiently going through the first half of this year, and have made very positive progress.
As for the new user profile you asked, there is no significant change of the new user profile,... | direct | [
"direct",
"intermediate",
"fully_evasive"
] | A |
09466b732e4bc0c299fb63b2a1e39419 | My question is actually regarding your game business, which is quite solid in the second quarter. I wonder could you share more color on the performance of Princess Connect!. Specifically, what's your expectation on the longevity for this game?
And secondly, can you give us some update on your game pipeline? Any game ... | Regarding Princess Connect! Re:Dive, it's like we expect this game will be having very long life cycle, and we expect this game to last quite -- to quite a long period. And for this game, our -- in many aspects, it has broke the historical record. In terms of pre-registered number, we have over 6.5 million people pre-r... | intermediate | [
"direct",
"intermediate",
"fully_evasive"
] | B |
d5957eb609457d077a2c566c2c0668af | I have a question on advertising. Our ad revenue growth actually accelerated on a year-over-year basis from -- in the second quarter. Should we expect the ad revenue to sustain such strong momentum in the second half? What are the key drivers behind? Is it brand advertising? Or is it because of performance advertising,... | Overall 2020 is still full of uncertainties and lots of vitality. However, under this challenging macro environment, we still delivered a pretty good advertising growth rate at 108% year-over-year.
So Bilibili has a video platform, we are one of the biggest beneficiary in the overall videolization industry trend. And ... | intermediate | [
"direct",
"intermediate",
"fully_evasive"
] | B |
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