uid stringlengths 32 32 | question stringlengths 16 2.61k | answer stringlengths 7 8.6k | eva4b_label stringclasses 3
values | choices listlengths 3 3 | eva4b_label_letter stringclasses 3
values |
|---|---|---|---|---|---|
5f400777456f8d5760bf7f7e22f28d62 | Just want to start where you left off, and I understand that there's probably some limitations around what you can say regarding the potential transaction, but Frontline has obviously historically been a very active company, sale, and purchase, etc. Also, based on your quarter-to-date rates, it looks like you would ret... | Not at this point. It's not, in fact. | direct | [
"direct",
"intermediate",
"fully_evasive"
] | A |
1d436c6628863e0368341f563394b2b2 | The VLCCs have obviously been a pretty big laggard. And I just wanted your view on what may -- have the Vs catch up to the rest of the segments? And is it just a function of China opening up from its lockdowns and renewing the import growth of that nation? Is it that, combined with kind of the secondary and tertiary fa... | Well, I think, Jon, that, well, if you look -- history has thrown a lot at us throughout the years if you go back long enough. And there is one truth, that the -- all these asset losses are highly inter-correlated. So, I find it hard to believe that this time will be different, that we'll have a prolonged period of tim... | direct | [
"direct",
"intermediate",
"fully_evasive"
] | A |
347d6a84c9c3c211e6d5bff260cd0197 | I noticed in the report, just -- I wanted to ask a little bit more, if you can elaborate on the decision to end the time charters with SFL and if that loss on termination of $600,000 is on top of the $4.5 million. | Those basically are the adjustment to the balance on the -- when we -- yes, yes. OK. That's something we have had every quarter for, yes, how many years. It's actually an adjustment we have to make in order to adjust for what happened back in 2015, and when the merger between Frontline and Frontline 2012 happened. At t... | intermediate | [
"direct",
"intermediate",
"fully_evasive"
] | B |
8a0ea6a60517b9dce608c4d41589470f | I know there are about four vessels under commercial management, and I just want to know that would continue if the merger goes through or -- yes, that's the question. | Yes. No, sure, Chris. That's a fair question, and the answer is yes. We would -- because the merger wouldn't change any of our kind of commercial arrangements. | direct | [
"direct",
"intermediate",
"fully_evasive"
] | A |
00652fe4a6e7c9df4263e83fe5354826 | So, on the 12% of the fleet that's noneco, I guess, how are you thinking about these vessels in context of, of course, IMO 2023 and beyond? But then, in context of the merger with Euronav that's pending, are these sales candidates in your minds? Or are they more likely to be incrementally upgraded to comply with the ne... | It's a good question. They're not regarded sales candidates, to be quite honest. But that's more related to where we think we are in the curve. We firmly believe that we're entering a period now where actually global tanker capacity or carrying capacity will be slipping. At the same time, as we believe oil will flow an... | direct | [
"direct",
"intermediate",
"fully_evasive"
] | A |
05a22178150a35015f0f34c60dbc6493 | My second question is related to the strong quarter-to-date rates that Frontline has booked here. So, it seems that you have come in above some of your peers. So, I was wondering if you could talk about -- is that just due to the way Frontline accounts for these? Or is there an operational or maybe positional advantage... | Well, obviously, we report according to U.S. GAAP and the -- on the load-to-discharge basis. Over time, this basically makes no difference from reporting on a discharge-to-discharge basis. But when we guide, one should assume a certain portion of open days at the end of the quarter where no income can be accounted for.... | intermediate | [
"direct",
"intermediate",
"fully_evasive"
] | B |
62095c03ef276a0566f7ece2d58edfe5 | Can you give me some color or maybe concrete examples on where you draw the line between crude that you will transport that has -- or may have Russian content versus what you won't do? So, I'm assuming you won't do anything in the Black Sea, but would you load any crude in the Baltic? Would you carry crude to Asia that... | Hey, it's a very good question. And it's a difficult question to answer because this has basically been the theme here in our company ever since kind of the situation started. So, basically, what we have decided to do and -- is basically to follow the sanctions. So, basically, what EU, what the U.S., what the U.K., wha... | intermediate | [
"direct",
"intermediate",
"fully_evasive"
] | B |
963502fd9a64978df886571726907beb | Have you picked up any cargoes in the Baltic in the last month? | We have -- on one occasion, yes, but that's been under contract. So, basically, when the ship is commercially contracted third party, we -- that has happened, yes. But obviously, we have a very kind of tight policy on looking at all the implications. We would, for instance, never, ever send a Ukrainian National to a Ru... | direct | [
"direct",
"intermediate",
"fully_evasive"
] | A |
0f0a8da8b0a48f45e3ed1f6a215080cc | Hey D.K. (Foreign Language). I have two questions. The first is about that you have been talking about to implement three new initiatives, including the shift more resources to cross-regional transactions, improved operation efficiency as well as focus on the used car assets with better risk profile. So, can you give u... | Okay, Eddy. Here is -- Michael here. So, I'll address your first question. So, overall speaking after a year of the rapid development, we think now is the right time for us to shift our focusing on high quality and more sustainable growth. And we have been continuously optimizing our business model and operations and w... | intermediate | [
"direct",
"intermediate",
"fully_evasive"
] | B |
1459977efd77ea3ffd4ecf67ceb79e61 | (Foreign Language) So, thank you D.K., Michael and Nancy, as I've got two questions. Firstly, is on given the focus on cross-regional that we've talked about and I've heard D.K. talked about the strategies and the uniqueness of our business model there. I just want to hear, have we done sort of -- how do you see the ma... | Okay. Thank you Ronald. I will address your first question and I use Chinese to answer, and then Nancy will help me to translate. Okay, Ronald. (Foreign Language) Yeah. So, condition of the used car transaction is due to extend for the China's used car market as well as it's also true for the US or European market. So,... | intermediate | [
"direct",
"intermediate",
"fully_evasive"
] | B |
569c865d08e0916506c9e685517a1b28 | (Foreign Language) My simple question is number one, our partnership with Taobao, what does that mean to our revenue and profit, if you could quantify that or not? And secondly, management talk about multiple saving and cutting, what does that mean to our volume and cost (ph) in a rest of the year? Thanks. | (Foreign Language) Yeah. So, 58.com has massive target at the used car traffic and large user base. So, they've been also penetrated into larger cities in recent years. So, this is highly in line with our strategy in the profit and the transactions. So, by leveling their traffic and their resources in the lower tier ci... | intermediate | [
"direct",
"intermediate",
"fully_evasive"
] | B |
16d1aa99d5946076899da1f2c16c635e | (Foreign Language) Hi, D.K., Michael and Nancy. So, I will quickly translate my questions. My question is about the market outlook for this year. So, the year today used car transaction volume looks quite weak comparing to the growth rate in last year, and given the micro uncertainties for this year. So, how do your ma... | (Foreign Language) Yeah. So, the car marketing trend in China has been quite challenging for quite a few times. So, the new car market has been declined year-over-year and for the used car market the growth is still slowing down under way. I think this trend will continue in the next few months. (Foreign Language) Yeah... | intermediate | [
"direct",
"intermediate",
"fully_evasive"
] | B |
cf8c6e25d92fe7d3066457bd5f7ef782 | Would you be able to quantify the -- sorry, would you be able to quantify the one-time inventory costs related to the Asian-US supply chain? | Yeah, it's roughly around $2 million when you -- when you include everything in. | direct | [
"direct",
"intermediate",
"fully_evasive"
] | A |
c52ae200ea166204dc845cdf809d9379 | All right. And then, in regards to the comments around the smaller customers in North America that you're targeting for Surfactants, you mentioned some competitive pressure. Is that -- was that a new phenomenon? Is that getting worse as far as the competitive environment? Was that why that was called out? | I think we're seeing a slight increase in -- increase of material being shipped in from offshore into the United States, and it's having an impact on some of the commodity margins in that space. | fully_evasive | [
"direct",
"intermediate",
"fully_evasive"
] | C |
14de5eff82353c8b64565a43582f4181 | All right. And then, any rebound in the agricultural business in North America so far in the current quarter after the wet weather? | We are anticipating the fourth quarter to be up sequentially from kind of the third quarter. But generally there is a seasonality associated with the business, and we typically expect the higher performance in the fourth quarter anyway. But we are seeing -- on a global basis, we are anticipating the ag business to be u... | intermediate | [
"direct",
"intermediate",
"fully_evasive"
] | B |
bf1a77c90c3c2d725be1d6727c61889d | The Surfactant performance, I think, particularly in North America and Latin America, it seems like it's depressed, just if we look at the volume trends as well as some of the unusual cost that you've mentioned, both the inventory cost or supply chain cost as well as the Ecatepec outage. Can you talk a little bit about... | As we look at our business today, I would tell you that we anticipate that the volumes will be up in Q4 versus Q3. We've had some customer implementations of new SKUs that were delayed into the quarter, but I don't see significant growth in the commodity space in the Q4 2019 or into 2020 at this point in time. | intermediate | [
"direct",
"intermediate",
"fully_evasive"
] | B |
0b507bf325ba9e0a44f61fb07d3ebfcf | All right. Maybe a question on the commodity side of the Surfactants business. To some extent, is this part of your diversification strategy, this idea that maybe we try to work down our reliance on commodity volumes and increase the Specialty side of the business? And maybe tied into that, can you comment on where cap... | Yeah, it's certainly a key part of our strategy going forward to continue to grow in the more functional markets of Surfactants, and we have a significant part of our R&D and marketing effort skewed toward growth in the functional markets. And so, that is a priority for our company.
It's also a priority to continue to... | direct | [
"direct",
"intermediate",
"fully_evasive"
] | A |
2413292fb0ceeb18165c3cf9e8eafa1e | All right. And then, a question on the Polymers business. You mentioned better mix is something that was helping your Polymers margin, but it sounds like in terms of volumes rigid polyols were up, while specialty polyols were down and PA was down. So, can you just help us understand maybe some of the margin differences... | Yeah, generally when we talk about an improved mix in Polymers, we're talking about less phthalic anhydride and more rigid polyol.
That's a driver, Mike. | intermediate | [
"direct",
"intermediate",
"fully_evasive"
] | B |
5268a580e5cb61671978ae86273b9217 | All right. And then, last question for me is just on the tax rate. It looks like Q3 tax rate was very low. I know you mentioned the R&D credits that came in. But in terms of that Q4 number, the 18% to 21% full-year guidance kind of gives us a really wide range for Q4 tax rate. So just wondering if you can help us under... | Yeah. As you know, we always provide a wide range on the tax rate, given the volatility of potential new project or mix within the countries. For example, if we get any type of insurance in Mexico, a 30% tax rate of course can change the mix significantly. So, I will say, if you look at the range, the midpoint is kind ... | intermediate | [
"direct",
"intermediate",
"fully_evasive"
] | B |
8651a704a53934b4dbbed05d55f7c4a0 | Yeah. I was hoping we could dig a little bit more into the Surfactants margins if you're able and willing. How much of that was due to sort of the direct or indirect expenses related to the plant closure in Germany? How much of it was lower functional product mix and all leading up to when we can expect those margins t... | Vincent, what I will say is that if you look at the margins on a year-to-date basis for Surfactants and you exclude the LIFO -- the LIFO change on the base, we are in the ballpark similar to last year. And then you need to take into account that we have significant losses year-to-date in the first three quarters due to... | intermediate | [
"direct",
"intermediate",
"fully_evasive"
] | B |
72921ecca4a47ef8faa0a11f8d377210 | Okay, thanks. And then, so if I look at the agricultural demand, obviously the US was tough, but you posted some nice growth outside the US. Are you able to quantify roughly how much of that growth came from your recently introduced products? | I don't have the number here with me. Yeah, I don't have it here. We can work that offline. | fully_evasive | [
"direct",
"intermediate",
"fully_evasive"
] | C |
5bf56b25004df4a8af04496218f8f540 | Okay. And then, just a bit more broadly on the strategy. I was curious about your current ability to service private label personal care producers, whether that's a customer that you feel as maybe underrepresented in your current portfolio and what your strategy is for servicing the private label market going forward? | Stepan has and historically has had a fairly large presence in the personal or the private label segment with some key core relationships, primarily in North America. I would say that today we are under-represented in that marketplace in Europe today, particularly with the closure of our German asset. But we have a pre... | intermediate | [
"direct",
"intermediate",
"fully_evasive"
] | B |
06eac553f3db2a0c7f5670413556f201 | Right, right. And actually, if I can sneak one more in, I would just be interested to know with regards to the competitive imports on your more commoditized products, just generally where those are coming from and which product specifically are seeing the largest impact? | Yeah. I would say, the commodity adding on [Phonetic] either sulphates and sulfonic acid typically coming in from China, Korea, some of those are coming in from Israel. And I would say, they're relatively limited presence in the smaller customers, particularly in the East and West Coast of the United States. | direct | [
"direct",
"intermediate",
"fully_evasive"
] | A |
9b5493c0195e58df2ae81dca4e170cfa | Hi. Just a couple more on Polymers. First of all, I heard you reference, Luis, that you're heading toward a 14% operating margin number for Polymers. I think on the last call you kind of reference more of a 13% to 13.5%. So, is it fair to say that your margin is tracking a little bit better than what you had anticipate... | I will say it is better, mainly because of the China situation. | direct | [
"direct",
"intermediate",
"fully_evasive"
] | A |
37f33c9a6ef834e6485126943c67f9ac | Got it, OK. So with regard to that China situation in this cold storage opportunity, we've talked about that a little bit in the past. But I'm just wondering if you can help frame-up the 54% volume growth number. How big is the cold storage market and kind of where do you guys sit within that market right now. Just won... | Yeah. So, Mike, that's a good question. It's a question I've been pushing back on our China team to try to understand if that growth is sustainable and what we should anticipate. And what I've been told, and what we believe is that the penetration of cold storage or the presence of cold storage is still in its infancy ... | intermediate | [
"direct",
"intermediate",
"fully_evasive"
] | B |
29578d9ca5d20825ef0eb0de6491bd4e | Okay. And then, within Polymers, you mentioned that phthalic anhydride volumes were lower, can you comment on what you're seeing in PA pricing? | PA pricing has been somewhat stable, I would say, but what we are seeing and I do think PA is kind of a forward indicator of where the economy could go that in our Tier 2, Tier 3 customer base. And so, we do see some slowdown in those two market segments from a overall demand perspective, and that has a little bit conc... | direct | [
"direct",
"intermediate",
"fully_evasive"
] | A |
0a639868ebed10ab303912c226761684 | Interesting. Okay. And then, last question is just around corporate expense that was on an adjusted basis that was lower year-on-year. I know that that's been a focus of some of your efforts. But can you maybe provide some guidance for Q4, corporate expense and any thoughts, I know it's a little bit early, but any thou... | Look we expect the Q4 to be similar to the trends that you have seen in the first three quarters and as we are in the middle of our budgeting process right now for 2020. What I will say is that we will continue balancing delivering the bottom line with the investments that we need to make in the business to continue gr... | intermediate | [
"direct",
"intermediate",
"fully_evasive"
] | B |
06dd20720503e904509cecd21bc07710 | Could you talk about what your expectations are for the current year in terms of volumes, the unit volume sales and also the mix of that? | While we don't provide forecasts or guidance, William, but what we are seeing in the first two months of this year seems quite positive. The order numbers seems, it's much better than what we had in the last year or two. So we believe the first quarter, which will be super good for us. One of the reasons for that is pr... | intermediate | [
"direct",
"intermediate",
"fully_evasive"
] | B |
69604decddc791752c9ff618f53f197e | In terms of product mix, I mean, do you think that it's going to be somewhat similar to last year, or I guess I'm trying to get toward the gross margin, it was down quite a bit in 2020. And if there's things we can do to get that up this year. | Right. I think this last year, in year 2020, we saw some pretty good growth in our agricultural segment. That unfortunately has substantially lower margin compared to the truck segment. So we will still expect the agricultural segment to grow next year, in the year 2021. Now with the truck segment is already very high.... | intermediate | [
"direct",
"intermediate",
"fully_evasive"
] | B |
8de59801fec9bb8b5ac0074874d175bb | Okay, OK. So we should probably expect lower gross margins for 2021 compared to 2020? | More or less what we have is basically I think we should go forward to 2021, actually fair more National VI, we expect that to drew further margin. I don't see too much of deterioration there any further. | direct | [
"direct",
"intermediate",
"fully_evasive"
] | A |
8e67ba2109b83f6b90af97098cc9e5f0 | Okay. Can you talk about the R&D, obviously, you're spending a lot more now than you have in the past. Can you talk about where all that money is going toward? | Well, for the new, this National VI we have actually gone and developed a whole new platform. So that has taken up a fair bit of R&D money, especially in the last three years. It actually took place in 2021, potentially 2020. Now with the National VI now implemented, the product already, so we didn't expect it to grow ... | direct | [
"direct",
"intermediate",
"fully_evasive"
] | A |
f840232bee05cc9194e1d1bb83d1c57b | Okay, all right. Great. And then last question is what was the loss from the JVs from? | Okay. That's from our unit up north. The two things are there. One is the -- in fact for the cost of precious metals like platinum, rhodium and palladium has been shot through the roof right in the last couple of year or two. So that that's one of the costs of materials that has impacted that unit. And also one of the ... | intermediate | [
"direct",
"intermediate",
"fully_evasive"
] | B |
94db130d62bff48900895defe8e10d8d | Approximately what percent of the RMB1.2 billion R&D spend was spent on new energy vehicles, including transmission and green hydrogen initiatives? | The bulk is actually spent on the National VI and T4 development in the last three years. So the reason why the above is on this is because the National VI standard will be implemented nationwide by July 1st, right? This was 6A, 6BOB two years later. And then, Tier 4 is scheduled to be implemented in 2022. Now so the b... | direct | [
"direct",
"intermediate",
"fully_evasive"
] | A |
907308e23f831fdda4c28ee8c1096e54 | A couple of questions, guys. First, on the dividend, obviously, resizing it to the new size of the company post the wireless sale. But walk us through a little bit about why pay a dividend at all? I know you've got 62 years of history, and you are in a capital deployment phase, and it is a very modest yielding dividend... | Hey, Ric, this is Chris. I guess the dividend is trying to balance multiple issues. As you're aware, we still have a large retail shareholder base. So there is somewhat of a tradition and history of paying an annual dividend. And as you recognize, we highlight that when we point out that we've done it for 62 consecutiv... | direct | [
"direct",
"intermediate",
"fully_evasive"
] | A |
2773d718c0ac61f3f712b64650ea9f23 | And how about stock buybacks? Remind us where you are as far as the availability reduced stock buybacks and appetite? | Jim can correct me, but I think we're able to. But at this point, given the growth prospects that we have, any excess cash that we have, we're planning to reinvest in the growth of the business. And of course, we're keeping an eye also on the discussions in the federal government right now with some discussion about po... | direct | [
"direct",
"intermediate",
"fully_evasive"
] | A |
4dd36c490a5b0512704b390b771931ac | On Slide 11, you'd point out the corporate costs. Obviously, [Inaudible] in this quarter from less [Inaudible] fees. You mentioned, though, being able to take more costs out of the corporate side, $3.3 million run rate in fourth quarter, another $4 million run rate in early '22. So should we then assume that corporate ... | Ric, there is some expense reductions that we're seeing this year that won't repeat next year, specifically related to our incentive bonus. We do expect that to go up, and that's about $1 million lower expenses in the third quarter than what we would typically have. So I would guide you for the near term, about expense... | direct | [
"direct",
"intermediate",
"fully_evasive"
] | A |
1b6a9e152fa9604bfde30c9fafe59fbd | You guys have mentioned how you've really got good service compared to the copper DSL out there as you roll fiber out there. Where do people churn to? I had an investor asked the other day, I thought it was a really good question. If DSL is the only choice, is it people that are just leading the category completely? Or... | A lot of cases, their churn is moving out of the area. We do have some involuntary churn in there. But in most cases, they are not moving to the DSL competitor in the market. | direct | [
"direct",
"intermediate",
"fully_evasive"
] | A |
00e61da386f049597d646fa19319f310 | Just wondering if, obviously, you did pivot here to the fiber as opposed to the fixed wireless. Just if you could share some of the feedback you've gotten from municipalities on why they heavily prefer the fiber build as opposed to fixed wireless? Is it concerns around the price or the speed, the reliability, whatever,... | Yeah. So really, it's the state that's driving that. And Virginia is the one that's furthest along right now, but it's really speeds that are driving the decision toward fiber. And with the level of funding that's out there, there is -- there's significantly more dollars that can fund fiber to the home, whether that's ... | direct | [
"direct",
"intermediate",
"fully_evasive"
] | A |
e24d48f628c07b48fd379a8e6917ee4f | Can you maybe talk a little bit about your marketing approach here? What's changed? What you've kind of learned works and doesn't work in getting people to take the product? And then specifically interested in how promotional you're kind of willing to get, maybe one year teaser rates or something like that to induce th... | Yeah. Up to this point, we have not done much in the area of promotions. We've been able to win customers just based on the superior speeds that we're offering, particularly on the upstream speeds. But as far as a competitive response, we have not seen anything that we haven't expected from the incumbent cable companie... | intermediate | [
"direct",
"intermediate",
"fully_evasive"
] | B |
72a43882eafabcf57ce5b34e19fe07e4 | It looks like in the markets you've launched so far, you're getting about 12 to 13 points of penetration in a year. So that gets you to about three or a little over three years to get to that terminal, 38% penetration rate. Is that the right way to think about it? Do you think you can accelerate that time line? And any... | Yeah. I think that's generally the right time line. It is somewhat market specific, depending on the demographics in that market. But yes, I think that's generally the right time line. Those markets that we launched back in the fourth quarter of 2019, they're in the low 30s right now as far as penetration rate. | intermediate | [
"direct",
"intermediate",
"fully_evasive"
] | B |
564cf1be8879cb8399452e9645f2e45e | I just wanted to see if the risk here on the Beam pause about -- it sounds like you're depending on government to create the funding for future investment. I mean, is there a considerable risk that you're taking on that front? It just ends up being a dormant business? | So at this point, we think there's still significant upside in the areas that we have Beam deployed. With the rules right now for funding that government funding is not available in those areas where we've already deployed that Beam broadband service. So we're continuing to support the Beam product. We don't have any p... | intermediate | [
"direct",
"intermediate",
"fully_evasive"
] | B |
e5b52ad254eb99146cc7b48de831fe6c | And then, look, on the franchises for your Glo fiber expansion, is that really more about the local governments looking at fiber as the main draw? Or are they saying, like, look, there's wireless opportunity as well. Is that becoming a competitive factor if you're winning those franchises? | For Glo, the focus of those municipalities is they want fiber in there, and they want a competitor in there. So I'd say at this point, fixed wireless is not really on the radar screen within these municipalities. They want fiber, and they want a local company. The fact that we're local has helped us get a lot of tracti... | direct | [
"direct",
"intermediate",
"fully_evasive"
] | A |
8ac27853f67f9e5fd907b8c812a7b3ab | And have you seen any changes as far as the adoption curve is concerned with Glo fiber as now you're in multiple markets with customers adopting service? And how much you have to invest to get those incremental customers? | We've not seen significant changes at this point. But as we go into these new markets, brand awareness is very, very important. We're targeting really local marketing. We've assigned regional sales directors in each one of our markets that specifically targets that markets, those relationships in that market and takes ... | intermediate | [
"direct",
"intermediate",
"fully_evasive"
] | B |
265f0cd44cedce722cec742547cae125 | Can you just give us a breakdown of reagent rental versus your capital purchase on the 11 placements in the quarter and just in general what you're seeing in the appetite â you know, [Inaudible] for new placements in terms of your reagent rental versus capital purchase? | Yeah. And, you know, so, Kevin, we're not breaking that out. What I would say is that, you know, the majority of the systems that went out were in the reagent rental program. The reason we're not breaking it out is that it's, you know, still sort of finding its level, and so, you know, I don't want that to set any part... | intermediate | [
"direct",
"intermediate",
"fully_evasive"
] | B |
df50542b2327dd6db026f9f55e24e7d0 | Can you provide just a little bit more granularity in terms of -- you mentioned the three sites, I believe and postnatal had been identified. You know, kind of which sites and as we think about -- I think you called out, you know, 1,000 patients as, you know, kind of target dataset size, is that, you know, per site or ... | Well, you know, that represents -- so there are fundamentally five studies organized in four pillars, and those four pillars are prenatal, postnatal, hematologic malignancies, and solid tumors. The hematologic malignancies has a leukemia arm to it and a lymphoma arm, so that's your five. And our plan is to have 1,000 p... | direct | [
"direct",
"intermediate",
"fully_evasive"
] | A |
a966e5ef629cdef8082cff21aa98f186 | You know, kind of called out the timeline to potentially begin generating data I think, and pre and postnatal. Do you have any early thoughts as to kind of how long that total data collection time may take and kind of to be able to reach that 1,000 patient threshold and at least kind of across those five verticals? | You know, what we think is that we should be able to get a substantial fraction of the postnatal samples data from them collected and analyzed, and so I want to say somewhere in the neighborhood of 35% to 50% of those done by the end of the year. And we expect that we will be able to generate presentations or that the ... | intermediate | [
"direct",
"intermediate",
"fully_evasive"
] | B |
a5d90664ca34eb836ffc9cee71f5b23f | Should -- will the samples analyzed in Saphyr in those various clinical trials run through in the P&L line as recognized revenue or will those be development expenses with no revenue associated with samples and consumables associated with study? | It's a mix. I mean it kind of depends on the relationship that we have with the site. There are some sites where, you know, there's sponsored research activities, there are other sites that are existing users and they are purchasing reagents. So you're going to see some of the expenses hitting the R&D line and, you kno... | direct | [
"direct",
"intermediate",
"fully_evasive"
] | A |
347aeb8ff1c6e823d13ad2a7d7edf4b2 | I'm curious to know if there are any accounts that do the rental program that actually end up purchasing the Saphyr outright. | Yeah. We are starting to see that. So, you know, the reagent rental program is just over a year old and we have seen at least one customer convert to a sale. And we expect that some percentage of the reagent rental customers will convert to sales over time, which is another reason why we decided not to split out sales ... | direct | [
"direct",
"intermediate",
"fully_evasive"
] | A |
3d47be01782e897779f0291d3778a21f | How should we be thinking about them throughout 2021 especially due to higher levels of utilization and the expanded installed base? | You know, we expect them to marginally improve through the year as we grow revenue but not materially, right? We will materially grow revenue -- excuse me we'll materially grow our gross margins beyond this year as we really ramp up consumables as a percentage of our total revenue. Right now we have a pretty decent mix... | direct | [
"direct",
"intermediate",
"fully_evasive"
] | A |
c23808ae6705cb5a038de4cb2acc559a | Are you able to just at a high level discuss the breakdown geographically of the current installed base? | Yeah. So what I would say is that's, you know, distributed about 50% U.S., 50% ex-U.S. and, you know, Europe has probably got a little bit more than half of the ex-U.S. portion. And, you know, Europe has really been a significant contributor to the business lately, and so we would expect them to continue outpacing some... | direct | [
"direct",
"intermediate",
"fully_evasive"
] | A |
1ed00b51fa866ea23574361338cbcde9 | You've had some adoption by very large medical centers, especially OUS. So I'm just curious if you could discuss or remind us about the international opportunity and how this adoption could help drive that going forward. | Yeah. I mean I think that when you look across the progress that we're making in the business, it's really global and this is an advanced method for research applications and of course as you know, labs are advancing the capabilities and implementing it in a variety of ways. And, you know, because of that, the adoption... | intermediate | [
"direct",
"intermediate",
"fully_evasive"
] | B |
b89b1f3cfaf9f7186f0ed3d751542573 | You guys really have done a great job building a really strong balance sheet here. You have $360 million in the bank and that's essentially several years of runway, gives you a lot of breathing room. What I want to know is how are you guys planning to invest that money to drive further adoption of Saphyr? You mentioned... | Yeah. So, you know, you hit on -- one of the main things, right, is driving these clinical studies in 2021. We will also continue to build out our sales and marketing team and our customer service team, and we're also investing in our next-gen product. Beyond -- that's the focus for 2021. Beyond that, we will continue ... | direct | [
"direct",
"intermediate",
"fully_evasive"
] | A |
f4043d62b46c99a275003d236378b8e0 | I'd like to ask you about kind of the target profile for the next generation Saphyr and really how we should think of this. Is this more so a premium higher throughput version of Saphyr or is it a successor and really the next step in the Saphyr story? | Yes, it's more like the former. Although Saphyr is premium and its next-generation counterpart will be just as premium, but it will be much higher throughput. And so what we anticipate is that the current Saphyr system would be really terrific solution for low to mid-volume labs and higher volumes labs which are curren... | direct | [
"direct",
"intermediate",
"fully_evasive"
] | A |
e2cdd93edd8b78f50f456e24ea822c17 | I'd like to touch on the product mix a bit in the improved gross margins. How much of that is due to the reagent rental model and the Lineagen revenues as compared to higher utilization from existing Saphyr systems and the improvements throughout the years that you just mentioned to the throughput of the system? | Yeah. It really has a lot to do with the product mix. We are -- as you know, with the business like ours, the consumable business will continue to grow and outpace revenue from the systems. In Q1 of last year and throughout much of last year, we were selling systems and the consumable portion of our revenue was growing... | intermediate | [
"direct",
"intermediate",
"fully_evasive"
] | B |
602f70d43fa3999eadf91ab2a7bfad31 | I wanted to know how the utilization of Saphyr kind of breaks down between customers who have a validated LDT and are using it in diagnostics versus those who are using it more so just for research? | Well, listen, so a couple of ways to think about that. First and foremost, I want to emphasize that the Saphyr system is research-use-only and, you know, customers adopt it and use it for a variety of applications. And when they are developing an LDT, we would consider that to be within the clinical research portfolio,... | intermediate | [
"direct",
"intermediate",
"fully_evasive"
] | B |
9ffaa0a42f271dad51711233635f86c3 | In terms of new placements, can you just talk a little bit about the typical competitive dynamic as typical site trying to decide between optical mapping and long-read sequencing in terms of their functionality? You're really to some degree competing against yourself in terms of whether the functionality offered by Sap... | Yeah. So when you're talking about those clinical translational oriented sites, that is a site which is really looking at the Saphyr system or optical genome mapping as an alternative to traditional methods inside of genomics, cytogenetic analysis, karyotyping, FISH, and microarrays. So that's where the discussion usua... | direct | [
"direct",
"intermediate",
"fully_evasive"
] | A |
d88ed1161c7ff8252b38b5d1713848a4 | I appreciate that the primary guidance metrics company provided today is placements material grid oriented and more than a 150 by the end of the year. We do get questions from investors interested in your revenue guidance and sort of what you would need to sort of see or what kind of scale in your business, you would n... | Yeah, I mean I think, so we're sort of appreciative of that dynamic and I want to make a couple of comments. First of all, we're conservative of providing guidance because, you know, it's on a relative scale basis. The revenues are certainly impressive and we're very happy with where we came out this quarter, last quar... | intermediate | [
"direct",
"intermediate",
"fully_evasive"
] | B |
f142c0fc758d33a8ee8227b5f2074568 | I have a question for you on the prior-year reserve development, which is obviously a very large number. Can you just talk to where that emanated from in terms of components, whether by program or by quarter in 2020? And how that may be influencing your posture on forward reserving? | Let me give a little color on that. So, yes, the prior-year development, $1 billion favorable versus $850 million in the 4Q. As I'm sure you expect, you know, that emanates heavily from the second half of 2020 and a lot from the fourth quarter. It was favorable really across the businesses. The elements there that woul... | intermediate | [
"direct",
"intermediate",
"fully_evasive"
] | B |
90d5d61e6c196e1ae69b232acfe9a184 | I actually just wanted to ask one on OptumHealth. I think you said 35% of the growth there was driven by global cap. You also shared 2 million risk patients in OptumCare are now in global cap. You know, just curious if you could give a little bit more on kind of where you think this number could get to, you know, the n... | OptumCare has become the nation's preeminent ambulatory delivery of value-based care. It is physician-led. And increasingly, you'll see us bringing comprehensive services to bear to meet the needs of all of our patients, but a particular focus on value-based and a particular focus on the fully capitated individual. We ... | intermediate | [
"direct",
"intermediate",
"fully_evasive"
] | B |
62682545d1e9809702eda6adf40056a5 | I'm just curious how we think about digital and telehealth impacting medical costs. What you've seen thus far? And what's the future role post the pandemic when we think about helping to control costs from a telehealth perspective? | We were very proud of how quickly we stood up over 17,000 providers during the pandemic on telehealth solutions, but that really is just is the beginning. And of course, across the country, we've seen a massive shift in consumer adoption and willingness to engage in virtual health solutions, as well as with our provide... | intermediate | [
"direct",
"intermediate",
"fully_evasive"
] | B |
7046f5ca1aef04c7ea0d7a6a4c57b547 | I guess one verification. Just, first I guess, is your guidance assume anything for sequestrations delay but then I guess the -- the real question is that the $1.80 that you guys are -- those including in your guidance, that sounds like things are starting off the year relatively well with overall utilization coming in... | Let me talk a little bit about that and how we think about that progressing throughout the -- the course of the year. So, you know, just a few impacts here. I -- I think the first -- the important impact I suggest is that if a significant majority, I'd call it 70% of our projected COVID impact is -- is really occurs in... | intermediate | [
"direct",
"intermediate",
"fully_evasive"
] | B |
9414f5043874335a2d1a0375e9d7d831 | If I think about your de-utilization, I mean, you -- you gave us an update on how utilization is tracking. But can you give us a little bit more details on how it's tracking across the different patient populations? And also, we talked about acuity levels, your expectations for acuity level to step up the second half o... | When I think about baseline, what I can say right now is what we're seeing is largely tracking to our expectations. And as we have signaled, where we see an abatement in services, it's largely offset by the increase in COVID-related costs. And that's tracked as we had expected. When you back out the impact of the suppr... | intermediate | [
"direct",
"intermediate",
"fully_evasive"
] | B |
6d117e1719d5c450392e9b83921ea3bd | I want to ask a question about integration and -- and long -- longitudinal care and data versus fragmentation. And the question is this. So, Andrew, over many years, Optum has really invested a lot of money in -- in kind of aggregating data about -- about the patient status, care -- care and services delivered so that ... | I think -- I think our bias is -- is increasingly, and I think rightly toward driving a more and more seamless, simple, easy-to-access care environment both for the patient and the provider, actually. So, what that speaks to is trying to avoid the fragmentation of the interface and definitely trying to avoid the fragme... | direct | [
"direct",
"intermediate",
"fully_evasive"
] | A |
53e34b1842994619b1d1c7d319f64a5e | A lot of good topics already covered here, so I just have a few quick follow-ups. First, the detail on Optum Care is very, very helpful. I -- I was hoping I could ask for one more piece of information here which is, you know, the -- so, it's not like you're going to have 18 million people out of 20 million that are sti... | Of the individuals that we serve that are not in fully capitated programs, about a third of them are seniors. And so you can think of that as the Medicare population that we serve through a variety of touchpoints in our care delivery assets. And then you -- as you'd expect, a subset of those are already in MA plan, whi... | intermediate | [
"direct",
"intermediate",
"fully_evasive"
] | B |
1ba119dcb8a21080857b69e97164545f | Maybe drill down a little bit on OptumInsight. Obviously, you had a really good margin trend this quarter. I wondered -- because I know there was a discussion last year during the pandemic that some of the John Muir type of deals were somewhat on hold as it was tough to sell a health system on that given social distanc... | Listen, we were pleased with the quarter. It was a really good quarter on the top line, and that, of course, drove profitable growth that contributed to margin. But specifically on margin, we also are really seeing the results of a lot of the modernization work we did across 2020. So last year, we undertook a significa... | intermediate | [
"direct",
"intermediate",
"fully_evasive"
] | B |
4ff776045679a7f27f2c0c478b3de610 | Andrew, I'd just be interested to hear your commentary about the outlook for commercial bundles. I know we're all talking a lot about risk sharing, what I call risk syndication in the Medicare Advantage space, and the bundling of risk in the Medicare Advantage space. But I'd be interested in the company's outlook for t... | Yeah. Thank you, and thanks for the question. Yeah, I would say we're in the early stages of provider-aligned products, where we're taking advantage of that risk-based. As an example, in our Southern California OptumCare partnership, Harmony really continues to be a cornerstone over those offerings. We're learning a lo... | direct | [
"direct",
"intermediate",
"fully_evasive"
] | A |
9f8b1e96b9dcf3048f3e6ef23c51b6f6 | My first question is, we've heard that RPL and NPL dollar prices are pretty elevated, which has made returns on securitizations a little bit less attractive. So I was just wondering if you could provide any color here. And then maybe in certain instances, does it make sense to just call and sell as opposed to call and ... | Sure, Kevin -- Mike, I'm sorry. Yes. Loan pricing obviously has during the course of 2021 and reflected in the strong performance of our book value this quarter. But it's the credit that you pick and the securitization that you can execute to determine how effective of a purchase it is. As we mentioned, even in a tight... | intermediate | [
"direct",
"intermediate",
"fully_evasive"
] | B |
ea494b98b90f042a47efae71b1884777 | There's been a lot of M&A activity and there's certainly a lot of institutional interest in the space. I was just wondering, has this -- or any of this changed the expected returns or how you source loans? | Again, I think these are pretty short-duration assets, which is an attractive thing this rate environment with expectations of rates moving higher. As we highlighted, our gross coupons on what we've acquired is just north of 8%, and on a net basis, is very high 6s. Again, there's different niches within the business pu... | intermediate | [
"direct",
"intermediate",
"fully_evasive"
] | B |
151b31b8b8936188608921bd3a7938ea | First question on the $240 million of unrealized gains in the period, can you tease apart what the factors were that led to that? I felt like we came into the quarter with credit spreads already pretty tight. I'm just wondering what the -- maybe some of the individual factors that led to that were? | Sure, Kevin. I'll start, and I'll let Subra and Kelley add if I miss on anything. Sure, as the question just asked by Mike, given how strong the loan performance and where pricing has gotten, that is the key driver of the book value appreciation in Q3. The loan spreads tightened an additional 40 basis points quarter ov... | direct | [
"direct",
"intermediate",
"fully_evasive"
] | A |
3681dc9b558a4d27925a96567996173e | Yes. That was helpful. But what were the factors individually? Like is there a lower severity rate that's being applied to the loans? Or is it -- what are the faster prepayment speeds? What are the actual factors that are driving that? | Again, I think the -- obviously, the performance of the credit speaks for ourselves. So the speeds have upticked a little bit given the low rate environment. Home price -- strong home price appreciation has decreased, LTVs as we also discussed in the Q2 call as well as the higher or lower LTVs resulting in all-in lower... | direct | [
"direct",
"intermediate",
"fully_evasive"
] | A |
22db22624c7d25de34f4d0867828f95e | And then on the loan warehouse financing, can you guys talk about how much capacity you have there to finance any potential growth in the portfolio? | Sure. Over the third quarter, we bought $850 million, all of which is going to be warehouse financed. But as we've said over numerous calls, our objective is to securitize this as quickly as possible. Our typical holding period on the warehouse line would be anywhere between two to three months with a securitization ex... | intermediate | [
"direct",
"intermediate",
"fully_evasive"
] | B |
0cd28915faa8384f30770f9c5f27f29e | Right. And sorry, if I missed it, but the $850 million that you guys bought, what was the breakdown between fixed and flip, prime jumbo, and RPL? | So of the $850 million, we bought $115 million of that is fixed and flip and the remaining is all-season reperforming and none of that is prime jumbo. | direct | [
"direct",
"intermediate",
"fully_evasive"
] | A |
2768008f72ae4d49765d578664b71122 | Follow-up on the question about BPLs and trying to grow that portfolio going forward. We've seen some peers look to acquire lenders in that space as a way to sort of secure on asset flow. Just curious if that's something you guys have considered or you prefer to continue sourcing more employees where you have historica... | Yes. I mean, we've seen, obviously, some of the activity -- M&A activity in the space. We are actively looking at that. But given the captive relationships that we have, we've been pretty successful in acquiring those assets over the last two years and especially in Q3. I think our track record even during COVID, where... | direct | [
"direct",
"intermediate",
"fully_evasive"
] | A |
d781a7c3687eff18ba488864dff7ccd3 | From a capital perspective, can you maybe share your thoughts on how much room you guys have to keep adding assets to the portfolio and growing in 2022 before you may potentially need to look at raising additional capital? | Sure. I mean we have north of $300 million of cash on balance sheet and that number has been hovering pretty high post the pandemic. We have significantly brought down our recourse leverage down to one turn of recourse leverage. So between cash and unencumbered assets, we plenty of capital to grow the portfolio. We jus... | direct | [
"direct",
"intermediate",
"fully_evasive"
] | A |
840c8d38ce37aa6f9971d66bc6792c96 | And then last thing on the loan spread tightening you mentioned, which obviously impacted 3Q book value, have you seen that continue into the fourth quarter or would you say it's sort of flattened off? And can you give any commentary on that number? | Yes. Our expectation was given sort of the quick move in rates to start Q4, coupled with a little bit of softening on the new issue front, what have led to some widening in the loan trading. There was actually a GSE loan sale that occurred yesterday. I don't have full color yet. But again, I think those loans traded ex... | direct | [
"direct",
"intermediate",
"fully_evasive"
] | A |
dcf0424ad2bcd941e24b016460ea7365 | Can you just talk about kind of what changed in the market? Was it kind of your appetite? Or was it more supply that kind of led to the increased activity in the quarter? | Yes. I mean, our appetite has been, as we've highlighted on numerous calls, Doug, been pretty strong for seasonal reperforming loans. We were just not as competitive as we would have been in the first half of the year. I think some of the counterparties that we engage within Q3 were not your run-of-the-mill for the tra... | direct | [
"direct",
"intermediate",
"fully_evasive"
] | A |
6100b2a5ea74e1c029b16a18cdad6a8b | Any insights or share your thoughts as to whether that continues or is it more likely to be a competitive bidding process in the coming quarters? | I think, again, those opportunities that are a little more quiet few and far between, but we think some will still come to the forefront, just given how strong loan demand is. And I think as I just highlighted, if there is a slight widening, people could pull back, it's been a pretty active year. So we're hopeful to ta... | intermediate | [
"direct",
"intermediate",
"fully_evasive"
] | B |
7942251b05d827419cbac6c341be2d30 | Got it. And just, I guess how do you think about kind of the -- on the reperforming book that you have, where you would see kind of the current mark-to-market LTV on the book given the strength of home price appreciation over the past year-plus? | Sure. As we mentioned in our opening remarks, year over year was up about [Technical difficulty] in 30-plus years. And I think we touched upon this on the Q2 earnings call as well. On the amount of resecuritization activity we've had this year, a lot of the loans acquired in 2016 and '17 had LTVs in the mid-high 80s. T... | direct | [
"direct",
"intermediate",
"fully_evasive"
] | A |
2751f2922d1afa62f2d048faa9d51501 | Okay. So is GSA still planning on vacating the whole building and do you have a date for that? | So they are. And so I think right now we had originally talked about them vacating the full building in December of this year. It looks like that now trickling into early next year with them to vacate. So that would leave approximately 65,000 square feet that they would vacate kind of when you net out the new lease we'... | direct | [
"direct",
"intermediate",
"fully_evasive"
] | A |
8ec36b152a8164ca6599a5ad9807bcb8 | Okay, great. And then you talked a lot about -- you have $800 million in liquidity, you want to keep an eye on your leverage, which I think is at 7.3%. In conjunction with those two things, what is your acquisition appetite going forward. And I know to some extent it has to do with successfully closing on the $300 mill... | We can kind of talk, Matt and I. I would say, we're just coming off the two acquisitions, which we've discussed and certainly have kind of jumped into the deleveraging program supported by our capital recycling. As noted, we have the $300 million that we're currently focused on and kind of continue -- want to continue ... | direct | [
"direct",
"intermediate",
"fully_evasive"
] | A |
8adb2a5a06601c0602c5997bbd13acee | Okay. And then you talked a little bit about the expirations coming up in the potential for releasing those and it seems like you are a bit ahead of the game, approaching 2022, '23 and '24. Do you have any thoughts on what we might see kind of in aggregate as far as rent roll ups or roll downs go? | I mean from a rent roll-up, we're targeting the 5% to 7% this year. I think our pipeline is showing good roll ups, but I think we're going to kind of have to wait till we get into next year to see how some of that shakes out, I mean, there's still a lot of moving pieces with tenants getting back into the office and kin... | intermediate | [
"direct",
"intermediate",
"fully_evasive"
] | B |
c2e054fa7ed57d5aed348bad8f7ba240 | Okay and then just last from me. As it relates to what we're hearing in the marketplace regarding supply chain issues, inflation costs, etc. Is that impacting at all what your cost thoughts were for 20 Mass Ave, which is underway and Seattle, which you're going to embark upon next year? And that's all from me. | So for 20 Mass Ave, I mean, we have contingencies with the project no different than Seattle. And so I think we have what we feel like we have a pretty good cushion. I think in some aspects, there's been some increase in pricing, but I think for the most part of 20 Mass Ave, we really went into that project, which we s... | direct | [
"direct",
"intermediate",
"fully_evasive"
] | A |
e1377fa7ed97adbdbfe5c1178cb6ca84 | Hey, just a couple of quick ones. The first one was I think I heard the the same-store NOI guidance for 4Q was, I think you said down 3% to 4% apologies if I got that wrong, but just what's causing the delta between 3Q, which I'm looking at plus 1% versus that down 3% to 4%. Is it all just known vacates or is there som... | Hey, Ron. This is Matt. So the range that we provided was down 1% down 3%, it sounded like you may have heard 3% to 4%, but just to confirm, it's down 1% to down 3%. We have a little bit on the revenue side from the vacate of the State of California that Chris commented on in the prepared remarks that's about $400,000 ... | direct | [
"direct",
"intermediate",
"fully_evasive"
] | A |
5b634e3334dbed0023ef291889b7b689 | Got it. Helpful. And then just switching gears to sort of acquisition and disposition. Just on the acquisitions -- the acquisition in the quarter, what's the plan there, so it's almost 60%. just curious what sort of the strategy there with that property? | Yes. So, this is Chris. So that is really kind of a value add acquisition and really the plan there is we actually own two other properties adjacent to that, so combined kind of control the full block and kind of given its location, we felt like that was a great opportunity to just be in a position for, I guess, contin... | direct | [
"direct",
"intermediate",
"fully_evasive"
] | A |
fbeee601d6cf6b2f24710e0ef6ba1656 | Got it. And then just on the disposition side, can you just maybe comment on who are the buyers, what the market -- like who sort of looking at these properties and any comments on pricing would also be helpful, whether it's cap rates or you're seeing increased interest would be helpful. Thanks. | Yes. So I think from who the buyers are, I mean these -- given kind of the size of these assets, a lot of these properties are kind of more local, local, regional groups, not necessarily institutional investors. And so it really is a mix, just kind of given the fact that these properties, it's not necessarily a portfol... | direct | [
"direct",
"intermediate",
"fully_evasive"
] | A |
cd51840ba393ac289975c27df48681ad | As I look at the North America business, the insurance exchanges was up I guess about $6.5 million sequentially. Just what all drove that? How much of that was JPMorgan related? And then on the RCS, that had about a little over $2 million decline sequentially. Just what drove that as well? | Sure. So, the increase Jeff was in several different areas. I would say the JP Morgan impact has actually yet to set in. Just to give some context, we did a pilot launch in Q4. And Q2 is when Q2 of 2021 is when, all of their carrier partners come onto the platform. That's when we start to see the incremental upticks. B... | intermediate | [
"direct",
"intermediate",
"fully_evasive"
] | B |
a6bd35df0a1fdd65f71ca391465d4181 | Robin, I guess the payments that the prepaid/gift cards business. I think it's probably roughly $130 million in Q4, if I have it right. And I know you expect the strength to persist through COVID, but just how -- what's the expected trajectory from here Q1, Q3 and so on, in '21 from that $130 million base in Q4? | Look, it's very difficult to have a crystal ball to predict what will happen, but I will tell you that until COVID stays this business will keep going up. But once COVID subsides and the effects of COVID come down I would see a reasonable decline in this business in terms of overall numbers. There is a spurt in the mar... | intermediate | [
"direct",
"intermediate",
"fully_evasive"
] | B |
34f4cb45bd2acec08bbd64d02e7d055e | What in -- the $6.2 million impairment charge in the EHAE. Is just what drove that? | Look it's a -- we have a joint venture partner in EHAE, which is IHC, it's a publicly traded company, Independent Holding Corporation. Their business has undergone a lot of changes, they were not only a JV partner. They were also a big client. So, when we originally set up the deal because they were a joint venture par... | direct | [
"direct",
"intermediate",
"fully_evasive"
] | A |
1cfaab0301e4f4a5d6c99f07216ee8b8 | Just wanted to kind of ask about the -- I guess product mix going into Q1 and the margins are they going to, going to be similar to what they were in Q4? | Look, first of all, I think it is not for me to right now predict Q1, because Q1 is already over. So it would be a pretty leading statement for me to talk about Q1, considering that we're supposed to file Q1 soon enough. In fact what we are planning to do is presently we are thinking that since we need to give our audi... | fully_evasive | [
"direct",
"intermediate",
"fully_evasive"
] | C |
e249ee817c008c8ae6169ade14f7aaad | Okay, great. Yeah, that's helpful. And then I just have one question on the new auditors. I don't know if you can say anything about this, but did the new auditors have a material effect on the -- I think or any changes on the statements? | Well, we only issue one financial statement, and that's the audited financial statement. So we will be filing the 10-K this afternoon. With an unqualified opinion from KGS, KG Somani, and I would certainly welcome you to read that. And -- but we had a very productive, cooperative audit with KG Somani. They had a immens... | intermediate | [
"direct",
"intermediate",
"fully_evasive"
] | B |
ee1cce3da88d58859026b3d228192521 | Hi, Bill. Well, first off, congratulations on the accretive Location Labs announcement coming out this afternoon. I did want to ask because I think you hit on it briefly, could you provide us also with a little bit of an update on T-Mobile and the opportunity that represents for the company as we think about the back h... | Sure, Josh. Things are going really well with T-Mobile. A lot of planning going on, lots of joint meetings between our team and the T-Mobile team. We continue to look for a launch of the new SafePath 7 offering, which will be called FamilyMode, and that product will launch midyear as planned. We are quite excited about... | direct | [
"direct",
"intermediate",
"fully_evasive"
] | A |
f37dd59a8e42009d61d83c49767e606f | Thanks for providing some additional color on that. Good to hear things are on track there. Also, you did mention a really interesting collaboration agreement here with the strategic partnership. Could you talk a little bit about, really, the opportunities that that could create for Smith Micro, particularly since Avas... | Yes. We're really excited about this as well. Early on in the conversations with Avast, some of the early talks were between myself and my counterpart there. And one of the Ondrej's final questions that we got into was, you guys are in the IoT space, do we compete? And I explained to him what we did, that we viewed the... | intermediate | [
"direct",
"intermediate",
"fully_evasive"
] | B |
7d640f64ca9de811c48d79b0e90f38a5 | Real quickly, in terms of the Avast model, I just want to clarify, unlike Circle, Avast is a subscription or per user-driven model. Is that correct? And then I think you referenced as well that Avast has, there are some European relationships that come along with it. I don't think you've named the carriers, but could y... | Yes. OK. Let's take the first part of your question there, Scott. Yes, Avast marketed in a mode that's very compatible with us. It was all a subscriber monthly fee. So it's a SaaS model. It's recurring. It is just very consistent with how we do business. So that works very, very well. Yes. There are a couple of carrier... | intermediate | [
"direct",
"intermediate",
"fully_evasive"
] | B |
f0813d67d7e823437bed8697711f26f4 | Hey, Bill, just to quickly follow up, and then I'll get back in the queue. But just in terms of the pipeline, you referenced a little bit off of that with Ooredoo, which you announced, I think, a couple of weeks ago. You've had TELUS. You've got DISH now starting to ramp up as well. I'm wondering if you could talk a li... | Sure. Look, I think we will find many greenfield opportunities, but we also think we can find some where they've had some efforts under way. So we're looking at both. We talked in the last call that we had signed four new carrier contracts, one in the ViewSpot area. We've put a release out talking about it. We weren't ... | intermediate | [
"direct",
"intermediate",
"fully_evasive"
] | B |
b3eebc8cf88cd521442743485549f4d4 | Yes. I had a question about the revenue. I think you said $18 million to $19 million. Is that a 2021 full 12 months year, or is that the remainder, assuming an early Q2 close? | Yes, Eric. $18 million to $19 million reflects the forecast that Avast had given us for the entire year. Obviously, we will have a portion of that year, not all of it. We do expect to close in the next 30 to 45 days. So it's kind of looking like sometime in April. And so we'll have to prorate that. And that's the go-fo... | direct | [
"direct",
"intermediate",
"fully_evasive"
] | A |
2abb2737d67b2606e2f2a3ce044bc09b | OK. Thanks, Charles. I wanted to dive into the customers that you picked up here. Obviously, we're getting five mobile operator contracts. You mentioned Verizon, the two EU carriers, which you've named. You mentioned T-Mobile-Sprint and then you mentioned AT&T. You also mentioned that the revenue is in decline, with a ... | Sure. First off, there was a decline for Avast from '19 to '20 of about 17%. That decline was really led by our efforts at T-Mobile-Sprint. T-Mobile-Sprint was basically leaving their business that they were doing with Avast. And it was probably, it was just on a wind-down mode where ours was growing. So that negativel... | intermediate | [
"direct",
"intermediate",
"fully_evasive"
] | B |
c3f2508efd9f8373c6a05910dedb2607 | Does that $18 million to $19 million in '21 include some AT&T, or does that not include AT&T? | No. All the $18 million to $19 million are the ongoing revenue. So that's the revenues from Verizon, as well as the European carriers. | direct | [
"direct",
"intermediate",
"fully_evasive"
] | A |
d7118e6ba0438c08c329cc6815c05dfb | Gotcha. OK. And then just curious to know, from the customer's perspective, I'm assuming you reached out and touched all five of these mobile carriers, the contracts here. You mentioned that they're excited to hear about your arrival. But obviously, that introduces some uncertainty. What can you tell me about why they ... | I think going into this transaction, we were already recognized as the leader in the space. With this transaction being closed, we are the dominant player in the space. And from a wireless carrier to now have across the board the No. 1 player as their vendor and partner, I think, is reassuring. I think the fact that th... | direct | [
"direct",
"intermediate",
"fully_evasive"
] | A |
8ce6e8be943512d57fa3e3a095105cba | A little bit on -- a few questions on the other parts of the business. Tim, the CommSuite revenues continued to surprise on the upside. Is this a function of you just being conservative or is it a function of the stores not being opened and maybe less churn? Can you talk about why we've been consistently surprised ther... | Yes, Jim. So this quarter was related to seasonal ad revenue. It's one of the best quarters we've ever had in many years anyway. So that was an unusual item that we couldn't have predicted. We do expect that the Sprint base will continue to be on that glide path down that I've talked about throughout the year. And then... | intermediate | [
"direct",
"intermediate",
"fully_evasive"
] | B |
b63c83434341e87674aa1a1742fe0cda | And the ViewSpot customer that you picked up, can you characterize the size of that customer in terms of subscribers relative to the AT&T Mexico subscriber or customer you lost? | Yes. I think the AT&T Mexico loss, by the way, is just a momentary problem that's caused by the fact that their stores just can't reopen. I think once they can get to some stability in Mexico with the pandemic and they can get the stores back and open, I think there's an excellent chance that they'll come back and reen... | intermediate | [
"direct",
"intermediate",
"fully_evasive"
] | B |
Subsets and Splits
No community queries yet
The top public SQL queries from the community will appear here once available.