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Analyst
Arvind Ramnani
Period: Reporting periods mapped to calendar 2025 Q1 – 2026 Q2 (6 quarters; questions recorded in 3).
- Questions
- 4on tracked calls
- Challenge rate
- 50%2 of 4 questionsLimited sample
- Companies
- 2questioned at least once
- Reporting periods
- 3with questions
These figures cover the whole profile: every tracked question, all reporting periods.
How to read these numbers
Challenge rate is the share of questions that pushed back, pressed for specifics or questioned management’s assumptions. It describes how questions were asked on the calls tracked here; it does not measure whether any view turned out to be right.
Rounding. Rates are rounded to whole percentages, so a small share can show as 0% even when some questions were challenging. The count beside each rate is exact; “none of N questions” means no question was challenging.
No questions recorded. “—” means there is nothing to calculate: no questions were recorded for that period on the calls tracked here. It does not mean there was no activity.
Fewer than 3 questions. A company-level rate is withheld when fewer than 3 questions were recorded for that company; the questions are still counted everywhere else.
Small samples. Profiles with fewer than 10 questions are marked Limited sample.
Reporting periods. Questions are grouped by the calendar quarter each company’s fiscal reporting period maps to, not by the date of the call. Periods without a calendar mapping are listed separately under their fiscal label.
Questions asked
Grouped by company, most questions first. Open a company to read its questions, newest reporting period first.
Showing 4 of 4 questions from 2 companies
DUOLDuolingo, Inc.2 questions · 2 reporting periods · 1 of 2 challenging
Calendar 2026 Q2
does AI cost you like 1%, is it 10%? Just directionally, how significant are your AI expenses?
Show response
Asked to size AI costs; Gilian said AI in COGS runs into the tens of millions, with internal-use AI closer to the ten-million range, plus hosting.
Calendar 2025 Q1
there is clearly like a kind of a business strategy for expanding product. I’m just trying to get a clear understanding
Show response
Luis said all new subjects monetize via the same subscription and the strategy is to teach long-to-learn subjects many people want.
EPAMEPAM Systems2 questions · 1 reporting period · 1 of 2 challenging
Calendar 2026 Q1
how are you getting confidence that the prospect of clients will actually convert to revenue on time in order for you to hit your guidance numbers?
Show response
CFO acknowledged unexpected geopolitical impact (Middle East) affecting visibility. Significant number of deal opportunities with only modest share needed to convert for guidance. CEO confirmed AI-driven budget shifts and some SDLC automation displacing traditional work.
is there any sort of like revenue cannibalization or workflow cannibalization or displacement of some of the legacy work as some of the AI work ramps up?
Show response
CEO confirmed clients diverting investments from digital platform and e-commerce build-outs towards AI native products and platforms. SDLC automation (testing) creating some displacement. Company proactively offering dark factory capabilities and autonomous maintenance to clients.
Challenge rate by company
Every company this analyst questioned, most questions first. A company-level rate is shown from 3 questions; below that it is withheld.
| Company | Questions | Challenge rate |
|---|---|---|
| DUOL Duolingo, Inc. | 2 | —Rate withheld: fewer than 3 questions |
| EPAM EPAM Systems | 2 | —Rate withheld: fewer than 3 questions |
Activity by reporting period
Questions recorded for each calendar quarter that companies’ reporting periods map to (not the call date), with the challenge rate for that period. Periods inside the range with no questions are shown as “No questions recorded”.
| Calendar period | Questions | Challenge rate | Companies |
|---|---|---|---|
| 2025 Q1 | 1 | 100%1 of 1 question | 1 |
| 2025 Q2 | No questions recorded | — | — |
| 2025 Q3 | No questions recorded | — | — |
| 2025 Q4 | No questions recorded | — | — |
| 2026 Q1 | 2 | 50%1 of 2 questions | 1 |
| 2026 Q2 | 1 | 0%none of 1 question | 1 |
- 2025 Q11 question · challenge rate 100% (1 of 1 question) · 1 company
- 2025 Q2No questions recorded
- 2025 Q3No questions recorded
- 2025 Q4No questions recorded
- 2026 Q12 questions · challenge rate 50% (1 of 2 questions) · 1 company
- 2026 Q21 question · challenge rate 0% (none of 1 question) · 1 company
Topics
Topics tagged on this analyst’s questions.
- Cloud & AI2
- Cost Pressure1
- Guidance Reliability1
- Demand1
- Competitive Dynamics1
- Product Launch1
- Capital Allocation1