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Analyst
Ryan Tomasello
Period: Reporting periods mapped to calendar 2024 Q4 – 2026 Q2 (7 quarters).
- Questions
- 8on tracked calls
- Challenge rate
- 50%4 of 8 questionsLimited sample
- Companies
- 2questioned 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 8 of 8 questions from 2 companies
CSGPCoStar Group4 questions · 4 reporting periods · 3 of 4 challenging
Calendar 2026 Q2
how you would weigh the tier downgrade pressure between macro-driven budget tightening versus competition?
Show response
Attributed pressure to both elevated vacancy stressing owners and a competitor discounting to buy share, citing 2.5x lead-to-lease conversion as the recapture mechanism.
Calendar 2025 Q2
can you say whether or not you've observed any signs of wallet share loss either directly through properties being moved off the platform
Show response
Florance pushed back firmly on wallet share loss, noting competitor growth came from buying Redfin properties at dramatically lower ASPs, not organic share gains.
Calendar 2025 Q1
can you help us understand what's driving the growth decel in the second quarter to 10% and your confidence in the implied acceleration
Show response
Lown explained Q2 is seasonally front-loaded with Apartmentalize conference bookings flowing through Q3-Q4. Cited rent.com sales force additions.
Calendar 2024 Q4
talk about your approach to managing margins over the coming years, where you think core commercial margins might go
Show response
Lown projected continued 1-2% annual commercial margin expansion and said Homes.com trajectory will become clearer in Q2-Q3 2025.
FIGRFigure Technology Solutions, Inc. Class A Common Stock4 questions · 4 reporting periods · 1 of 4 challenging
Calendar 2026 Q2
I think it would be helpful if you could maybe quantify where the pricing floor is in the Connect channel
Show response
CEO said top-tier volume pricing sits at the bottom of the take-rate range but deferred fuller contribution-margin disclosure until the Kiavi close.
Calendar 2026 Q1
I wanted to double click on the traction you're seeing with traditional depositories, particularly for Flagstar, what drove that win?
Show response
CEO attributed the Flagstar win to Figure's scale (>$1B/month), profitability as a public company, and a long track record that builds bank trust.
Calendar 2025 Q4
what the Figure Connect monetization looks like relative to first-party assets—anything to help size that math would be helpful.
Show response
Tannenbaum said third-party monetization is pure margin (no origination or LOS cost) with upside to the ~50bps Democratized Prime estimate; Kgil added Connect volume and securitization sponsor fees over time, within the 3.5-4% take-rate range.
Calendar 2025 Q3
If you could just discuss the strategies you're leaning into to drive adoption there.
Show response
Tannenbaum said the near-term focus is building the funding side of Democratized Prime; Cagney highlighted YLDS on Sui/Solana and a liquid-staking-style yield construct backed by home-equity assets.
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 |
|---|---|---|
| CSGP CoStar Group | 4 | 75%3 of 4 questions |
| FIGR Figure Technology Solutions, Inc. Class A Common Stock | 4 | 25%1 of 4 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 | 1 | 0%none of 1 question | 1 |
| 2025 Q1 | 1 | 100%1 of 1 question | 1 |
| 2025 Q2 | 1 | 100%1 of 1 question | 1 |
| 2025 Q3 | 1 | 0%none of 1 question | 1 |
| 2025 Q4 | 1 | 0%none of 1 question | 1 |
| 2026 Q1 | 1 | 0%none of 1 question | 1 |
| 2026 Q2 | 2 | 100%2 of 2 questions | 2 |
- 2024 Q41 question · challenge rate 0% (none of 1 question) · 1 company
- 2025 Q11 question · challenge rate 100% (1 of 1 question) · 1 company
- 2025 Q21 question · challenge rate 100% (1 of 1 question) · 1 company
- 2025 Q31 question · challenge rate 0% (none of 1 question) · 1 company
- 2025 Q41 question · challenge rate 0% (none of 1 question) · 1 company
- 2026 Q11 question · challenge rate 0% (none of 1 question) · 1 company
- 2026 Q22 questions · challenge rate 100% (2 of 2 questions) · 2 companies
Topics
Topics tagged on this analyst’s questions.
- Competitive Dynamics4
- Pricing3
- Revenue Growth3
- Demand2
- Margin2
- Macroeconomic1
- Subscriber Growth1
- Capital Allocation1