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Analyst
Rob Sanderson
Period: Reporting periods mapped to calendar 2024 Q4 – 2026 Q2 (7 quarters).
- Questions
- 14on tracked calls
- Challenge rate
- 14%2 of 14 questions
- Companies
- 4questioned at least once
- Reporting periods
- 7with 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 14 of 14 questions from 4 companies
APPApplovin Corp11 questions · 6 reporting periods · 1 of 11 challenging
Calendar 2026 Q2
can you talk about the funnel, like you -- for folks coming through self-service
Show response
Adam said creative remains the biggest funnel hurdle; auto-generated end cards work but full 30-60s video generation is still work in progress. Direct.
Calendar 2026 Q1
is it too early for any learnings on how it changes spending patterns?
Show response
Adam said tool is days from rollout. No margin compression expected as it uses third-party compute. Sora deprecation had no impact; company uses multiple open-source and closed-source models.
any generalization on what this is doing to unlock budget for existing customers?
Show response
Adam confirmed top/middle/bottom funnel targeting options unlocking greater aggregate budget from existing customers. Most use a mix of all three.
Calendar 2025 Q3
what other points of friction are necessary to address to just further optimize?
Show response
Adam said surprisingly few feature requests from new cohort; more requests come from year-old pilot customers who understand the platform better.
Anything surprising or different about the behavior from this cohort?
Show response
Adam said English-speaking markets performing well; localization no longer a challenge with LLMs; model translates behavior to math universally.
Calendar 2025 Q2
can we infer that it's largely improving performance that's informing that decision to go bigger?
Show response
Adam confirmed team delivered Shopify integration, dynamic product ads, attribution integrations, and model improvements faster than expected.
really lacks a lot of basic targeting functions like small things like just excluding existing customers
Show response
Adam acknowledged lack of persistent identifiers vs Meta but argued intent-driven fast conversions deliver strong ROAS regardless; committed to full automation over manual targeting.
Calendar 2025 Q1
are you always going to be sort of dependent on third parties for this?
Show response
Adam noted web is already self-attributing via own platform; app uses third-party (AppsFlyer, Adjust). Working on more web integrations for advertiser confidence.
can you help us understand maybe and delineate to the extent that you can sort of trends in the app product versus web?
Show response
Adam described convergence toward unified platform where advertisers specify destination (app, web, or both) and let AXON optimize delivery.
Calendar 2024 Q4
Can you kind of discuss how the strategy may have evolved a little since the pilot to now kind of going through holiday season?
Show response
Adam described focus on mid-market DTC ($10M-$250M GMV) with long queue of inbound demand; nothing changed through holidays except volume.
how much category-specific optimization is required to move sort of these non-DTC adjacencies?
Show response
Adam confirmed AXON works out of the box across verticals without custom models; challenge is go-to-market awareness, not technology.
AMZNAmazon.com, Inc.1 question · 1 reporting period · 0 of 1 challenging
Calendar 2026 Q1
help dimensionalize some of the revenue opportunity in the consumer and in the enterprise space over the next few years
Show response
Jassy was very bullish on Leo, calling it potentially a very large many billion-dollar business with AWS-like capital intensity characteristics. Cited 2x downlink and 6x uplink performance advantages.
NFLXNetflix, Inc.1 question · 1 reporting period · 1 of 1 challenging
Calendar 2026 Q2
engagement quality is improving even as reported viewing hours per member have softened
Show response
Peters addressed the pushback at length, arguing hours are not linear to revenue and citing live-event and quality/variety/quantity framework.
ROKURoku, Inc.1 question · 1 reporting period · 0 of 1 challenging
Calendar 2025 Q4
any color on the types of ad formats you might be thinking about?
Show response
Charlie directly described home-screen ad units and expansion beyond M&E.
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 | 11 | 9%1 of 11 questions |
| AMZN Amazon.com, Inc. | 1 | —Rate withheld: fewer than 3 questions |
| NFLX Netflix, Inc. | 1 | —Rate withheld: fewer than 3 questions |
| ROKU Roku, Inc. | 1 | —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 | 2 | 0%none of 2 questions | 1 |
| 2025 Q1 | 2 | 0%none of 2 questions | 1 |
| 2025 Q2 | 2 | 50%1 of 2 questions | 1 |
| 2025 Q3 | 2 | 0%none of 2 questions | 1 |
| 2025 Q4 | 1 | 0%none of 1 question | 1 |
| 2026 Q1 | 3 | 0%none of 3 questions | 2 |
| 2026 Q2 | 2 | 50%1 of 2 questions | 2 |
- 2024 Q42 questions · challenge rate 0% (none of 2 questions) · 1 company
- 2025 Q12 questions · challenge rate 0% (none of 2 questions) · 1 company
- 2025 Q22 questions · challenge rate 50% (1 of 2 questions) · 1 company
- 2025 Q32 questions · challenge rate 0% (none of 2 questions) · 1 company
- 2025 Q41 question · challenge rate 0% (none of 1 question) · 1 company
- 2026 Q13 questions · challenge rate 0% (none of 3 questions) · 2 companies
- 2026 Q22 questions · challenge rate 50% (1 of 2 questions) · 2 companies
Topics
Topics tagged on this analyst’s questions.
- Product Launch11
- Demand6
- Innovation & R&D4
- Revenue Growth2
- Competitive Dynamics2
- Subscriber Growth1
- Cloud & AI1
- Margin1
- Geographic Expansion1