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    Scott Billeadeau

    Research Analyst at Walrus Partners

    Scott Billeadeau is Principal and Portfolio Manager at Walrus Partners, LLC, where he leads the Micro-cap Special Situations (S2) strategy and specializes in uncovering unique opportunities within the micro-cap equity universe. He has covered companies including Sonoma Pharmaceuticals, managing targeted portfolios with an emphasis on high-conviction smaller-cap ideas and participating directly in company earnings calls. Billeadeau began his investment career prior to joining Walrus Partners and has operated as a key partner at the firm since at least 2018, bringing decades of industry experience. He holds the Chartered Financial Analyst (CFA) designation, actively maintains securities licenses, and is registered in the state of Minnesota.

    Scott Billeadeau's questions to Sonoma Pharmaceuticals (SNOA) leadership

    Scott Billeadeau's questions to Sonoma Pharmaceuticals (SNOA) leadership • Q1 2019

    Question

    Scott Billeadeau of Walrus Partners inquired about the sales force's visibility into prescription profitability to align incentives with net revenue, and also asked about sales representative turnover and performance management.

    Answer

    CEO James Schutz and CFO Robert Miller confirmed that sales reps have access to data on physician prescribing patterns and patient insurance coverage. Reps are not paid commissions on unprofitable 'bad scripts,' which strongly incentivizes them to focus on profitable net revenue. Mr. Schutz added that voluntary turnover is low, and performance is managed using data on territory profitability, with swift action taken on underperformance.

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