Sign in

    Steven Frankel • Rosenblatt Securities

    Steven Frankel's questions to Dolby Laboratories Inc (DLB) leadership

    Steven Frankel's questions to Dolby Laboratories Inc (DLB) leadership • Q3 2025

    Question

    Steven Frankel of Rosenblatt Securities questioned if returning to high single-digit or double-digit growth is still achievable, whether the product mix has evolved as predicted year-to-date, and which business segment was responsible for the negative true-up.

    Answer

    CEO Kevin Yeaman affirmed that double-digit growth is achievable, driven by the 15-25% target growth in Dolby Atmos and Vision, once the foundational business stabilizes. He also confirmed the product mix is playing out as expected. CFO Robert Park specified that the negative $4 million true-up was primarily related to the set-top box business within the broadcast segment.

    Ask Fintool Equity Research AI

    Steven Frankel's questions to Dolby Laboratories Inc (DLB) leadership • Q2 2025

    Question

    Steven Frankel of Rosenblatt Securities asked about potential adjustments to operating expenses in a deteriorating economic environment, the key catalysts for reaching a tipping point in automotive adoption, and the value of revenue true-ups for the quarter.

    Answer

    CEO Kevin Yeaman stated that while Dolby is focused on long-term plans, it remains ready to adjust spending based on market conditions and will continue seeking efficiencies. He identified expanding into high-volume mainstream car models as the next major milestone for automotive adoption, building on current momentum. CFO Robert Park reported that revenue true-ups in Q2 were approximately $1 million.

    Ask Fintool Equity Research AI

    Steven Frankel's questions to Dolby Laboratories Inc (DLB) leadership • Q1 2025

    Question

    Steven Frankel of Rosenblatt Securities inquired about Q1 trends for foundational revenue, the drivers behind the significant growth in the mobile segment, the potential timeline for Samsung's automotive OLED screens featuring Dolby Vision, and the specifics of the quarter's large revenue true-up.

    Answer

    CFO Robert Park confirmed that Q1 trends were consistent with the full-year flat outlook for foundational revenue and noted the revenue true-up was broad-based, particularly in TVs and auto, not from a single partner. CEO Kevin Yeaman attributed the mobile segment's growth to the timing of minimum volume commitments and the integration of GE licensing. Regarding automotive, Yeaman expressed excitement about the Samsung partnership, highlighting that it validates the opportunity and simplifies implementation, with more progress expected throughout the year.

    Ask Fintool Equity Research AI

    Steven Frankel's questions to Dolby Laboratories Inc (DLB) leadership • Q4 2024

    Question

    Steven Frankel of Rosenblatt Securities requested more detail on the imaging patent business, asking for the implied organic growth rate within the total 15% growth figure, considering the tough comparison and the contribution from the GE acquisition. He then asked for clarification on the magnitude of the organic decline.

    Answer

    Kevin Yeaman, CEO, clarified that the overall imaging patents category is projected to grow about 15% with the GE licensing deal. However, he explained that the organic imaging patents business will be down mid-to-high single digits. This decline is due to a difficult comparison against fiscal 2024, which benefited from a large transaction that recognized revenue earlier than anticipated.

    Ask Fintool Equity Research AI

    Steven Frankel's questions to Harmonic Inc (HLIT) leadership

    Steven Frankel's questions to Harmonic Inc (HLIT) leadership • Q2 2025

    Question

    Steven Frankel from Rosenblatt Securities sought to reconcile the strong order book with the cautious Q3 guidance, asking if customers were deploying from existing inventory. He also inquired about the new customer pipeline in the video segment and the timing of revenue contribution from the Akamai partnership.

    Answer

    CEO Nimrod Ben-Natan explained the lag between shipments and modem activation, noting a pickup in modem count as expected. He highlighted video growth through partners like ViewLift and Akamai, which onboard multiple end-customers. CFO Walter Jankovic clarified that the Akamai revenue ramp is expected to contribute more significantly to growth in the second half of the year, implying a larger impact in Q4.

    Ask Fintool Equity Research AI

    Steven Frankel's questions to Harmonic Inc (HLIT) leadership • Q1 2025

    Question

    Steven Frankel of Rosenblatt Securities inquired about the progress of Unified DOCSIS amplifier availability, the strategy for using cash to pre-buy inventory to mitigate tariffs, and the timeline for the fiber business to become a material revenue contributor.

    Answer

    CEO Nimrod Ben-Natan stated that the amplifier situation is progressing according to their original plan. CFO Walter Jankovic confirmed that Harmonic is actively considering using its liquidity to procure inventory ahead of potential tariff changes. Both executives highlighted that the fiber business is already becoming sizable, with strong bookings and expansion projects with both cable and pure-play telco customers.

    Ask Fintool Equity Research AI

    Steven Frankel's questions to Harmonic Inc (HLIT) leadership • Q4 2024

    Question

    Steven Frankel asked about the availability of chips for Unified DOCSIS hardware and sought to reconcile bullish spending plans from Harmonic's top customers with the company's more cautious forecast.

    Answer

    CEO Nimrod Ben-Natan confirmed that silicon for Unified DOCSIS is fully available and the main challenge lies in system integration and operational deployment, not chip supply. He explained that Harmonic's products are only one portion of a major MSO's total network CapEx, which also includes significant labor and other components. CFO Walter Jankovic added that recent demand forecast reductions from customers, related to the Unified 4.0 transition, are factored into the prudent 2025 guidance.

    Ask Fintool Equity Research AI

    Steven Frankel's questions to Harmonic Inc (HLIT) leadership • Q3 2024

    Question

    Steven Frankel of Rosenblatt Securities Inc. sought more detail on the 2025 growth caution, asking if the slowdown from the Unified DOCSIS 4.0 transition affects all customers or primarily the cohort of operators that were previously expected to ramp up. He also asked if this signals a broader market shift from DOCSIS 3.1 upgrades directly to 4.0.

    Answer

    President and CEO Nimrod Ben-Natan clarified that the caution is due to a combination of factors affecting multiple customer types. He explained that with Unified technology now available to all, many operators who were previously considering DOCSIS 3.1 or were on the sidelines are now re-evaluating their roadmaps to go directly to DOCSIS 4.0, which causes a near-term planning delay as they assess the technology and economics.

    Ask Fintool Equity Research AI

    Steven Frankel's questions to Imax Corp (IMAX) leadership

    Steven Frankel's questions to Imax Corp (IMAX) leadership • Q1 2025

    Question

    Steven Frankel asked how IMAX is managing its DMR (Digital Re-mastering) process to avoid gross margin pressure as the number of 'Filmed for IMAX' titles increases.

    Answer

    CEO Richard Gelfond explained that the DMR process has become highly automated and is not labor-intensive. He also noted that IMAX outsources some of this work to local partners for international films, a process facilitated by cloud-based technology, ensuring margins are not squeezed. CFO Natasha Fernandes added that the typical two-week run captures the peak box office, and successful films can always be brought back.

    Ask Fintool Equity Research AI

    Steven Frankel's questions to Imax Corp (IMAX) leadership • Q4 2024

    Question

    Steven Frankel of Rosenblatt Securities questioned if the strong turnaround in China would lead to more screen installations or primarily higher per-screen averages (PSAs). He also asked how the robust upcoming film slate impacts the company's live event strategy.

    Answer

    CEO Richard Gelfond stated that the success in China, the "Ne Zha effect," will likely have ancillary benefits like new signings as exhibitors are more financially robust, though IMAX will maintain its strict underwriting standards. Regarding live events, Gelfond explained they fit perfectly with the film slate by utilizing off-peak capacity, attracting new audiences, and providing incremental revenue for both IMAX and its exhibitor partners.

    Ask Fintool Equity Research AI

    Steven Frankel's questions to Xperi Inc (XPER) leadership

    Steven Frankel's questions to Xperi Inc (XPER) leadership • Q4 2024

    Question

    Steven Frankel of Rosenblatt Securities asked for an update on previously delayed TiVo OS TV launches and sought to identify the key performance indicators for 2025, questioning if TiVo One's monetization was the critical variable. He also inquired about the current monetization methods for the IPTV base and its revenue share economics compared to TV OEMs.

    Answer

    CEO Jon Kirchner confirmed that the company has made up ground on launch delays, with partners ramping up and Sharp TVs now available in the U.S. He affirmed that TiVo One's monetization is the critical variable for 2025, urging investors to watch active user growth and ARPU. Kirchner added that the IPTV base, previously monetized traditionally, is now being integrated into the TiVo One ad platform with economics that are not materially different from TV OEM partnerships. CFO Robert Andersen added that both active users and ARPU are expected to grow sequentially.

    Ask Fintool Equity Research AI

    Steven Frankel's questions to Xperi Inc (XPER) leadership • Q3 2024

    Question

    Steven Frankel of Rosenblatt Securities asked for clarification on TiVo OS delays, questioning if they affect the North American holiday launch and if European partners are also experiencing delays. He also probed whether the 7 million unit target for 2025 relies on securing new partners and sought details on the nature of market softness in the U.S.

    Answer

    CEO Jon Kirchner confirmed that a partner is expected to begin production for U.S.-bound TVs in late November, with a market presence around year-end. He clarified that European delays were related to the timing of shipment volumes from existing partners, not the launch of new ones. Kirchner asserted that the 7 million unit goal is achievable with the current seven partners. Regarding market softness, he attributed it to weaker end demand in specific areas like game consoles and general automotive volumes, rather than extended decision cycles or market share shifts.

    Ask Fintool Equity Research AI

    Steven Frankel's questions to Sonos Inc (SONO) leadership

    Steven Frankel's questions to Sonos Inc (SONO) leadership • Q1 2025

    Question

    Steven Frankel of Rosenblatt Securities inquired about the unconventional timing of the earnings release, the top strategic changes under the new CEO, the current status and timeline for improving the Sonos app, current channel inventory levels, and the holiday season performance of the ACE headphones.

    Answer

    Interim CEO Tom Conrad explained the release timing was due to a major reorganization and layoff announcement. He outlined his focus on improving the core experience, optimizing the business, and driving financial performance. Conrad stated the app team is now focused on a "return to excellence" but gave no firm timeline. CFO Saori Casey confirmed channel inventory is at a "comfortable place" and noted that while the ACE headphones were incremental to revenue, their launch was hampered by the app issues.

    Ask Fintool Equity Research AI

    Steven Frankel's questions to Sonos Inc (SONO) leadership • Q4 2024

    Question

    Steven Frankel from Rosenblatt Securities inquired about the primary cause for slower new household growth, whether the new Ace headphones are attracting new or existing customers, and the specifics of the 'make good' program for professional installers.

    Answer

    CEO Patrick Spence attributed the slower household growth mainly to a cyclical downturn in the audio category, with some impact from the app issues, but noted that existing household repurchase rates remain strong. Regarding the Ace headphones, Spence described the buyer base as a mix of new and existing customers and highlighted a key promotional placement at Best Buy. He explained the installer program was designed to compensate them for extra installation time due to app challenges and stated the relationship with that channel is recovering.

    Ask Fintool Equity Research AI

    Steven Frankel's questions to Universal Technical Institute Inc (UTI) leadership

    Steven Frankel's questions to Universal Technical Institute Inc (UTI) leadership • Q1 2025

    Question

    Steven Frankel inquired about the M&A landscape, specifically seller price expectations, and the current level of competition among employers to hire UTI graduates.

    Answer

    CEO Jerome Grant stated that seller valuation expectations in the M&A market are becoming 'more reasonable' and emphasized that any target must have excellent student outcomes. Grant also explained that employer competition for students is strong, and UTI's strategy of bringing partners like Tesla into the educational process earlier is increasing this competition and helping drive wage growth.

    Ask Fintool Equity Research AI