Ryan MacDonald

Andrew was clear the company waits for full and final FDA rulemaking before bringing the six peptides to market, though offering already-allowed peptides sooner.

Andrew said Eucalyptus leads weight loss abroad, and the opportunity is bringing core Hims specialties (TRT, menopause, dermatology, sexual health, peptides) into 5-6 overseas markets.

Andrew answered directly - newer categories are iterated domestically first, then rolled to international regions after 6 to 9 months, while weight loss is more mixed.

Andrew declined to detail ongoing FDA/DOJ matters and said the pill was pulled to prioritize ecosystem-stakeholder relationships.

Dudum said global frustration with health-care access is consistent across markets, validating the model's portability as Canada, the UK, Brazil and others follow Zava.

Yemi clarified the lower per-order revenue is specific to the personalized GLP-1 pivot to 503As, offset by higher order velocity and Q4 order compounding.

Andrew said Canada will launch under the Hims & Hers brands using ZAVA's technology stack and team expertise, with generic semaglutide priced around $75-$100.

Andrew described commercially dosed patients moving to branded (Wegovy/Zepbound) or generics (liraglutide, orals) but disclosed no retention figure; partial.

Yemi stated a majority use personalized dosages and Andrew addressed the regulatory framework for personalization as clear, a direct answer on both parts.

Asked how the DAU bonus affects experimentation pace; Luis said experiment velocity keeps rising and is growing faster than headcount across teaching and DAU growth.

Von Ahn said advanced content helps most for English learners, especially in Asia, and Duolingo is professionalizing marketing after underinvesting; direct.

Von Ahn said users will pay more for Super with video call but the magnitude awaits A/B results in a quarter or two; partial.

Luis said Max metrics are strong; the Super move is an offensive decision on falling video-call costs, not a Max problem. Direct.

Asked about continued EBITDA margin expansion through the investment phase; Matt declined to guide next year until February but said Duolingo can keep investing and still operate very profitably rather than prioritizing linear margin expansion.

Said the social-media effect is not material to financial metrics; the guide reflects positives (Super, Energy, ads) and drags (Max slower, weaker English Test, less edgy posting).

Luis said Duolingo is going all-in on AI as LLMs directly apply to language teaching, and believes it is far ahead of competitors.

von Ahn said LLM reasoning gains make AI strong at math, which should accelerate Math content; monetization stays via ads and Super, roughly proportional to DAUs.

Peter said customers want out of experimentation and prefer incumbents, and any future Falcon acquisitions would be for talent not product given Veeva's strong Falcon base.

Paul framed Ostro as a compliant HCP/patient brand-engagement platform; Brian quantified ~$10M of the $15M commercial subs raise.

Peter said Veeva's business consulting is uniquely positioned as it is aligned with the technology partner. Already has one early adopter AI project underway in commercial content area. This structural advantage is a major differentiator.

Peter said Compass Prescriber is running slower than expected due to customer resistance to change. First product to project procedures for 4,000+ brands which is novel. Turning the corner but has been a hard market.

Brian cited gross margin improvement from Vault platform migration and services efficiency, plus broad-based OpEx discipline across sales, marketing, and product.

Paul confirmed BI conducted thorough analysis and chose Veeva for consistent execution and full innovation roadmap. Each top 20 customer has their own process.

Eric said the model hit AstraZeneca's Q1 benchmarks and a second larger cluster is running.

Eric credited sales-force efficiency and tightly integrated technology, calling the growth durable.

Eric said deep conversations are underway though timing of new model deals is uncertain.

Eric rejected the commoditization narrative and sees large long-term hereditary demand, though guiding conservatively.