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Analyst
Chris Kuntarich
Period: Reporting periods mapped to calendar 2024 Q4 – 2025 Q3 (4 quarters).
- Questions
- 15on tracked calls
- Challenge rate
- 7%1 of 15 questions
- Companies
- 4questioned at least once
- Reporting periods
- 4with 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 15 of 15 questions from 4 companies
APPApplovin Corp7 questions · 4 reporting periods · 0 of 7 challenging
Calendar 2025 Q3
Any update there? And then, Matt, just a quick follow-up. Are you making any assumptions about advertisers that aren't currently onboarded in the 4Q guide?
Show response
Adam said EU web ads not a priority vs general release; GDPR requires additional build-out. Matt confirmed Q4 guide excludes new advertiser onboarding assumptions.
Calendar 2025 Q2
Are advertisers that are currently on this plan -- platform, are they going to be given referral bonuses?
Show response
Adam said exclusive platform access itself is the incentive; unlikely to pay referral bonuses given organic advocacy from satisfied advertisers.
is there anything kind of reflected here in the faster sequential growth associated with the App portfolio divestiture?
Show response
Matt confirmed Q3 guide includes slight revenue pickup from divested studios now spending as third-party advertisers.
Calendar 2025 Q1
Curious kind of if you're thinking around offering that to your advertisers, specifically on the web-based side, has evolved since we've last spoke
Show response
Adam said exclusionary targeting is a Meta convention they've tested but it's not a priority; focused on improving core model matching instead.
Curious if there's kind of a common thread that you would identify across those advertisers that we should be thinking about
Show response
Adam rated current web model B+ and noted a 30-40% model improvement would translate to equivalent scale increase at same ROAS.
Calendar 2024 Q4
what are you seeing from the willingness to spend into higher daily spend thresholds?
Show response
Adam acknowledged Q4-to-Q1 volatility from inventory replenishment cycles but noted advertisers consistently ramp back due to strong results.
Can you just talk a little bit more about the 1Q sequential growth drivers of the ecommerce business?
Show response
Adam noted Q1 guides 4% QoQ growth despite 2% fewer days, reflecting baseline momentum independent of seasonality.
DUOLDuolingo, Inc.3 questions · 3 reporting periods · 0 of 3 challenging
Calendar 2025 Q2
I just wanted to go back to Max for a second, and specifically around retention.
Show response
Said it is too early to parse Max vs Super retention since Video Call only scaled in H2 last year; early renewal signs look attractive and Max drives the highest LTV.
Calendar 2025 Q1
Any update on retention trends for Max and just percentage of overall subs?
Show response
Matt said Max was ~7% of subscribers at quarter end with retention roughly as expected, helping drive a strong Q1.
Calendar 2024 Q4
how did Max perform versus your expectations in the promo period?
Show response
Skaruppa said the New Year's promo beat forecast on both Max and Family Plan, but stressed strength ran throughout the quarter, not just the last four days.
UUnity Software Inc.3 questions · 3 reporting periods · 1 of 3 challenging
Calendar 2025 Q3
How should we be thinking about this from the perspective of an incremental monetization opportunity versus more of a value add
Show response
Management framed commerce as customer value first, with a modest fee and data upside; direct.
Calendar 2025 Q2
Can you talk a bit about the scalability of ad spend on Vector?
Show response
Management acknowledged scale limits for some customers and ongoing optimization work; direct.
Calendar 2024 Q4
How should we be thinking about this more tactically. Are certain advertisers going to be seeing this earlier in the quarter
Show response
Management described a phased iOS-then-Android rollout focused first on conversion; direct.
GDDYGoDaddy2 questions · 1 reporting period · 0 of 2 challenging
Calendar 2024 Q4
I just wanna go back to the comment, Mark, that you had made on the 16% average order growth. You give us a sense for what that was growing in 2023?
Show response
Mark declined to disclose 2023 comparison, noting the 16% is pre-Aero to post-Aero comparison. Partial, didn't provide the data requested.
Is this something we should be looking for as is something that you're gonna be putting marketing dollars behind this year?
Show response
Aman confirmed testing-first approach for Aero Plus before marketing spend. Clear timeline.
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 |
|---|---|---|
| APP Applovin Corp | 7 | 0%none of 7 questions |
| DUOL Duolingo, Inc. | 3 | 0%none of 3 questions |
| U Unity Software Inc. | 3 | 33%1 of 3 questions |
| GDDY GoDaddy | 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 |
|---|---|---|---|
| 2024 Q4 | 6 | 0%none of 6 questions | 4 |
| 2025 Q1 | 3 | 0%none of 3 questions | 2 |
| 2025 Q2 | 4 | 25%1 of 4 questions | 3 |
| 2025 Q3 | 2 | 0%none of 2 questions | 2 |
- 2024 Q46 questions · challenge rate 0% (none of 6 questions) · 4 companies
- 2025 Q13 questions · challenge rate 0% (none of 3 questions) · 2 companies
- 2025 Q24 questions · challenge rate 25% (1 of 4 questions) · 3 companies
- 2025 Q32 questions · challenge rate 0% (none of 2 questions) · 2 companies
Topics
Topics tagged on this analyst’s questions.
- Demand7
- Product Launch6
- Revenue Growth5
- Subscriber Growth3
- Cloud & AI3
- Pricing2
- Geographic Expansion1
- Guidance Reliability1
- M&A1
- Competitive Dynamics1