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Analyst
Colin Canfield
Period: Reporting periods mapped to calendar 2024 Q4 – 2026 Q2 (7 quarters; questions recorded in 6).
- Questions
- 16on tracked calls
- Challenge rate
- 0%none of 16 questions
- Companies
- 2questioned at least once
- Reporting periods
- 6with 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 16 of 16 questions from 2 companies
ASTSAST SpaceMobile, Inc.8 questions · 6 reporting periods · 0 of 8 challenging
Calendar 2026 Q2
can you just maybe refresh investors on how to think about rev rec for commercial service?
Show response
Scott said rev rec begins when commercial service begins next year, declining to commit to specifics, and largely validated Canfield's building blocks.
talk about the market structure that you expect in Germany as well as the rest of Europe
Show response
Scott spoke generally about European defense comms demand and MSS prioritization but declined to address individual markets.
Calendar 2025 Q4
is it fair to use the 4Q performance as a baseline for 2026 and then growing from there?
Show response
Scott steered to an annual framing: think about at least doubling 2025, not building sequentially quarter to quarter before commercial service.
Calendar 2025 Q3
if you could maybe talk about kind of how you think about your aperture for additional bands
Show response
Abel said the software-defined platform can tune over a thousand megahertz across 3GPP bands, so incremental band capture is essentially free.
Calendar 2025 Q2
the program books that dropped today suggest something like a $2 billion delta of kind of incremental opportunity
Show response
Scott said award timing could come as soon as this year but declined to size it; government budget and demand keep growing, and AST's offering is unique across 5-10 use cases.
Calendar 2025 Q1
if you could discuss the nature of the higher launch costs and talk me through
Show response
Scott attributed higher costs to pull-forward of launch timing plus tariffs on foreign-sourced raw materials; direct and specific.
Calendar 2024 Q4
can you just maybe talk about how you think about the current guide and the level of step-up through the year
Show response
Andy characterized CapEx as growth-based tied to the 40-plus satellite ramp, with R&D costs falling as ASIC work completes, but gave no specific step-up figure.
you can talk a little bit about the organizational structure with respect to your chipset engineering team.
Show response
Abel explained the ASIC platform runs on the satellites only and requires no chipset modification on users' phones.
LDOSLeidos8 questions · 6 reporting periods · 0 of 8 challenging
Calendar 2026 Q2
key levers to get you back to kind of high single-digit low double-digit free cash flow growth
Show response
Cage cited a record Q2 free cash flow, a CapEx pullback lifting the full-year outlook, and DSO-reduction work ahead as levers; defense tech investment stays within 1% to 1.5% of revenue.
Calendar 2025 Q4
Maybe turning to the FY 2026 growth guidance as well as margin. Perhaps if you could talk us through where you are forecasting the greatest degree of
Show response
Cage identified Defense as the area with most upside if Beautiful Bill funding and Golden Dome accelerate, plus FAA modernization pull-forward. Health volume outlook also conservative. Confirmed no one-timers in the guide, so outperformance would build the base for 2027.
Calendar 2025 Q3
What are kind of some of the key puts and takes or contracts that you would flag
Show response
Cage cited Defense Systems acceleration, energy infrastructure, IC classified award ramp as positive drivers. Offsets include Varec divestiture (~$40M) and Antarctic support program exit. Too early for specific 2026 framework.
Calendar 2025 Q2
how does the company think about growth acceleration from, call it, the kind of underlying guide midpoint of 4% growth ex efficiency headaches
Show response
Bell highlighted $70B pipeline with 3/4 being takeaway work and expected strong order intake in next 2 quarters. Cage said sustaining mid-13s margin becomes the objective but noted room for further improvement in Defense Systems and C&I.
Calendar 2025 Q1
maybe talking a little bit about selling pieces of the portfolio
Show response
Bell acknowledged reviewing portfolio for chronic underperformers and minor divestitures possible, but expressed satisfaction with overall portfolio positioning.
if the $1 billion or kind of the guidance that you gave at the start of the year is still the right expectation for repo
Show response
Bell noted the $500M ASR accomplished most of 2025 buyback plans. Additional capital deployment decisions deferred to back half of year depending on M&A opportunities.
talking through the takeaways of the Supplemental Defense Bill
Show response
Bell outlined FAA modernization, border security, and Golden Dome as key beneficiaries from the reconciliation bill, all aligned with NorthStar growth pillars.
Calendar 2024 Q4
Can you level set us on what you're assuming for FY '26 budget request?
Show response
Bell acknowledged bipartisan support for defense spending growth but declined to set specific FY2026 expectations, noting focus on growth pillars that are independent of specific top-line budget outcomes.
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 |
|---|---|---|
| ASTS AST SpaceMobile, Inc. | 8 | 0%none of 8 questions |
| LDOS Leidos | 8 | 0%none of 8 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 | 3 | 0%none of 3 questions | 2 |
| 2025 Q1 | 4 | 0%none of 4 questions | 2 |
| 2025 Q2 | 2 | 0%none of 2 questions | 2 |
| 2025 Q3 | 2 | 0%none of 2 questions | 2 |
| 2025 Q4 | 2 | 0%none of 2 questions | 2 |
| 2026 Q1 | No questions recorded | — | — |
| 2026 Q2 | 3 | 0%none of 3 questions | 2 |
- 2024 Q43 questions · challenge rate 0% (none of 3 questions) · 2 companies
- 2025 Q14 questions · challenge rate 0% (none of 4 questions) · 2 companies
- 2025 Q22 questions · challenge rate 0% (none of 2 questions) · 2 companies
- 2025 Q32 questions · challenge rate 0% (none of 2 questions) · 2 companies
- 2025 Q42 questions · challenge rate 0% (none of 2 questions) · 2 companies
- 2026 Q1No questions recorded
- 2026 Q23 questions · challenge rate 0% (none of 3 questions) · 2 companies
Topics
Topics tagged on this analyst’s questions.
- Revenue Growth5
- Competitive Dynamics4
- Guidance Reliability3
- Capital Allocation3
- Demand3
- Innovation & R&D2
- Cost Pressure2
- Capex Investment2
- Regulation Policy2
- Geographic Expansion1
Show all 13 topics
- Margin1
- Product Launch1
- Macroeconomic1