Callouts & quotes from 902+ activist slides

""You're not going to like my answer on competition because strategically we view the competition as fast food...It is the steal a meal a day from fast food. It is not to go after other supplement companies. It's to go after McDonald's, to go after KFC." — John DeSimone, CFO, Sept. 7, 2011; "Our competitors include both direct selling companies such as NuSkin Enterprises, Nature's Sunshine, Alticor/Amway, Melaleuca, Avon Products, Oriflame, Tupperware and Mary Kay, as well as retail establishments such as Weight Watchers, Jenny Craig, General Nutrition Centers, Wal-Mart and retail pharmacies." — Herbalife, 2011 10-K"

"“The following acts belong to the pyramid selling: (1)An organizer or operator seeks for unlawful interests by recruiting persons to participate in pyramid selling... (2)An organizer or operator seeks for unlawful interests by recruiting persons to participate in pyramid selling and asking the recruiters to pay fees... (3)An organizer or operator seeks for unlawful interests by recruiting persons to participate in pyramid selling, asking the recruiters to persuade others to participate in pyramid selling so as to form a multi-level relationship...” — Pyramid Sales Regulations, issued by the State Council of the PRC"

""The same market forces that have sent former Bob Evans and Bravo Brio patrons to faster, cheaper and more convenient options like Wendy’s and Panera are also apparent in grocery stores... the two Bob Evans’ divisions have diverged: At the grocery store, the brand name doesn’t matter; product perception is everything in the cold case." — John Rand, Kantar Retail (The Columbus Dispatch, 2/5/16). "It is time to sell the division now that a new CEO, Saed Mohseni, is on board... Gordon sees all those side dishes as a distraction." — John Gordon, Pacific Management Consulting Group (The Columbus Dispatch, 2/5/16)."

""During the fourth quarter, we achieved our strategic priority targets for shareholder distributions and asset dispositions." — Mark Lashier, January 31, 2025; "Yesterday afternoon PSX announced it will acquire Pinnacle Midstream for $550mm... While the deal looks fine on its own, we suspect investors will react negatively to PSX's decision on capital allocation. PSX had previously laid out a plan to sell at least $3B of non-core assets, which likely would include some non-op midstream, in an attempt to focus its portfolio and provide support for capital returns to shareholders..." — TPH & Co., May 21, 2024"

"“There are definitely some doctors —they're business spend first—that's probably the easiest way to describe it, and they really know how to maximize every patient that walks through that door. So, they switch them to Nevro. Bad actors are putting in implants over and over and switching brands. Selling that patient on there's something better, always keeping that carrot out there, that there's something new, there's something different that might be the magic pill. And then he also says, if you don't do what I recommend, I'm going to cut you off from your opioids, so there's that.” — Former Nevro executive"

""Yard House is yet to re-establish momentum since the acquisition." — Credit Suisse, March 21, 2014; "None of these solutions ultimately solve the business issue...This fundamental issue has been compounded by what in retrospect were ill timed acquisitions of new brands (e.g. Yard House)..." — Morgan Stanley, October 29, 2013; "...sell its struggling Smokey Bones Barbeque & Grill unit to an affiliate of the private-equity firm Sun Capital Partners for about $80 million... for the 2007 fiscal year, which ended in May, Smokey Bones posted annual sales of $222 million." — Orlando Sentinel, December 5, 2007"

"So it's interesting from a private equity perspective, I think what that does is ultimately really shows people that are selling their business, just a differentiation between maybe going down that route versus the Limbach route. So I think the saturation in the market has allowed us to differentiate ourselves. And I think what it really comes down to is our approach is just different. We're going to patient, diligent. We're going to take our time. We're really focused not on just the deal itself, but what the deal is going to look like over the long term. — Limbach Management (Q1'25 Earnings Call)"

""The Company's second quarter sales were adversely affected by holiday shifts on Easter and Fourth of July. The 2018 Easter sales week fell on the last week of the first quarter and the slow selling week afterwards fell in the second quarter this year. While comparatively last year, both holiday selling weeks fell in the second quarter. Additionally, the Fourth of July fell later in the week after the second quarter ended. Management estimates the incremental holiday sales impact was approximately $12.5 million and included it in the second quarter 2018 comparable store sales." — 2017 10-Q, p.9"

""Expected average member count for the fourth quarter to 4.6 million." -- Mark Livingston, 3Q22 Transcript; "We continued that momentum and secured a record 105 new client commitments during the selling season representing an additional 1.2 million covered lives."; "Weighted average covered lives increased by more than 200,000 [in 3Q22] driven by the launch of nine new clients at various points during the quarter." -- Mark Livingston, 3Q22 Transcript; "We expect to be managing fertility benefits for 5.4 million people and approximately 370 companies in 2023" -- Peter Anevski, 3Q22 Transcript"

""We are exercising caution around the industry's recent acceleration of the direct selling or door-to-door sales channels through independent sales dealers." — Lynn Michelle Jurich, CEO of Sunrun, Q4 2019 Earnings Call. "I would suspect that our direct will take share versus the pre-COVID for all those reasons that the market leaders, I think, will take share generally." — Lynn Michelle Jurich, CEO of Sunrun, Q1 2020 Earnings Call. "we expect those channels to continue to grow faster than our direct-to-home and dealer channels" — David H. Bywater, CEO of Vivint Solar, Q4 2019 Earnings Call."

"“where I haven't seen them get much traction is selling their product into...quality controlled places like pharma”; “a lot of them are the startup biotech's in the Bay Area, less so the Amgen's and GSK's.” ... “That's correct. Generally, in pharma, if you order 100 genes, you better deliver them 100 genes. You can't turn around after three or four weeks and say, here is 90. Good luck getting the rest of the 10. That's not going to last long. That will be a disaster for a pharma company. Emily's business was academic.” — Longtime executive in Twist's space; ex-founder of a key competitor"

""I've heard upwards of an 80% explant rate, at the biggest clinic that we sell to. They won't let Nevro back in. They said about 80% of their Nevro devices have come out." — Longtime Medtronic territory manager, running a large midwestern region; "Nevro defines explants differently. Their study on explant rates said it's just 1%. The Europe study [that indicated high explant rates] looked at the real world. I had a doctor in my territory who put in 25 Nevro devices and explanted all of them." — Longtime Medtronic territory manager, running a larges multi-state region on the east coast"

"So I think the -- first, today, we -- 20% of our revenues, we sell direct, we fulfill direct. This tends to be our largest, most advanced customers. although our largest customer is actually not fulfilled through a partner. Then we have about 30% where you can say, co-sell. The partner might identify the opportunity to qualify it, and we come in and we help with the, say, the more technical part of the sale. And then a lot of the fulfill would come from the partner. And then half of the revenues would come from all partners. — Former CEO Gustafsson, Bernstein Conference, June 1, 2022"

""Sinch has a poor reputation in the VOIP wholesale sector. They tend to ignore reports about fraudulent or criminal behavior by their customers, choosing instead to sell large quantities of numbers for profit. Even popular apps like TextNow rely on Sinch numbers, which scammers sometimes exploit." — Reddit r/ScamNumbers user. "In my experience, Sinch's customer support regarding fraud reports—whether submitted via email or web forms—has been disappointing. Neither Sinch nor its wholesalers offer consumers updates on cases filed through their webforms." — Scammer.Info poster."

"Given the lack of change in management and lack of sustained growth, the board has not done a good job of oversight — Foreign Buyside Analyst; The board of directors is not independent... they are doing things in a half-hearted way — Domestic Sellside Analyst; CPG is a street fight at the shelf...How do you do that with a largely Japanese board that has nobody from marketing, nobody from E-Com, nobody from supply chain on there? — Foreign Buyside Analyst; Even the director with the most international experience is not from the consumer sector — Domestic Sellside analyst"

"“And what's interesting, when you promote people into new jobs or bring in new talent from outside, how you get increasingly different insights into how we operate our business. Adding these people and promoting these people are making us a better company. They're raising the bar in terms of the excellence that we expect of ourselves and we expect of our staff. And it is in fact permeating the entire organization. As new people come in with new ideas and raise the expectations, it's helping us better perform as a company.” — Gerald Hassell, CEO 10/28/14 Investor Day"

""If you lined up all these biological instruments, like every instrument you can imagine for life sciences, I don't know the exact number; it's gotta be in the 99th or 98th percentile on price. It is up there. And look at 10X, I mean, flip this thing on its head. 10X offers a dirt-cheap system. It's $60k, $100k, something like that, easily covered under a grant, and then they sell these consumables. That are kind of expensive, but the margins are great. It's a razor blade model. BLI model is the reverse - a $2,000,000 device, and a $2000 chip" — Former BLI executive"

"“What they do is very low margin and labor-intensive to provide that service. You can see the gene oligo synthesis. You can probably automate it. They try to automate all of the processes. They try to decrease the cost, but the problem is DNA oligo synthesis has a very low value. You cannot sell it very high, even for the DNA and, yes, the panel; you have to customize it. You have to have someone test and design those oligos and test those oligo sets to demonstrate it works. You have to improve it. It takes manual labor.” — Former Twist employee, director-level"

""In sum, Defendants' compensation structure incentivizes Distributors to purchase thousands of dollars of product to receive recruiting-based rewards and to recruit new participants who will do the same..." — FTC v. Herbalife International of America, Inc., et al. (July 15, 2016). "In sum, unlike legitimate multilevel marketing businesses, Defendants reward Affiliates for recruiting and for purchasing products to maintain bonus eligibility rather than for selling products to ultimate-user consumers..." — FTC v. Vemma Nutrition Company, et al. (August 17, 2015)."

""And so the more you see robots, any type of robotics and automation, it's actually reducing the number of workers. And in those cases, solutions where a value-added reseller is heavily dependent upon a handheld device, whether that's a handheld RFID reader or an enterprise mobile computer, you have a dampening force." — Former Executive. "Yeah, that's the unfortunate thing about machine vision and fixed industrial scanning is it's built to last. You don't have a refresh rate as fast as you do with the PC or the tablet or a handheld side." — Former Executive."

"On July 14, 2025 (the “Signing Date”), Faraday Future Intelligent Electric Inc. (the “Company”) entered into a Securities Purchase Agreement (the “Purchase Agreement”) with certain institutional investors (collectively, the “Investors”). Pursuant to the Purchase Agreement, the Company has agreed to sell, and the Investors have agreed to purchase, in two closings, for an aggregate purchase price of $82 million, (i) certain senior unsecured convertible notes in the aggregate original principal amount of $82 million (the “Unsecured Notes”) — 8-K filing."

""And here's the other thing you have to be very cautious about... when they sell an engine, they're not selling an engine. They're selling [three] modules. So the, The Module Factory numbers are much higher than what real [customer demand for the Factory] is." — Consultant A. "Well, I'm no longer there. But I could tell you that was the line of thought when I was there...so what I'm suggesting is that that is still happening...there would be more of those modules [that] would be attributed to engine sales than to true module swaps." — Consultant A."

"“It’s their Achilles’ Heel at the same time.” — Ex-senior executive of Gen9; “I have thought so for many years.” — Ex-senior executive of Gen9; “Instead of using the minimum number of spots to make a gene, they over-engineer or over-produce in order to guarantee that they’re going to get a gene and even with that, they still only have a 90% delivery rate or something like that... there’s no way that you can sell a gene at 10 cents a base pair or 5 cents a base pair or to Ginkgo at 1.5 cents and hope to be profitable.” — Ex-senior executive of Gen9"

""The $5bn deal is about funding, not AI growth" — Bank of America Global Research, August 8, 2024; "Lumen actually regretted selling fiber to us. I had conversations with two previous CEOs who both said they enabled us to compete with them and they wish they had never sold us fiber...For the past 20 years, Lumen has been very reluctant to sell fiber. I think now, based on their liquidity profile, they are selling that." — Dave Schaeffer, CEO Cogent Communications, Oppenheimer Technology, Internet, and Communications Conference, August 12, 2024"

"It is important to note that, to our knowledge, this data is known to very few market participants: it is designed for and provided primarily to the health care industry. Our understanding is that it is known to few, if any, sell-side brokerage firms. It is also priced to a corporate end market and, as such, is likely too expensive for all but the largest of buy-side firms. We believe that the market is generally blind to this data, and that prices of Penumbra shares must adjust to reflect this powerful, credible, and compelling information."

"In the jurisdictions where we sell and plan to sell our products, the commercial use of our passenger-grade AAVs, and in some cases our non-passenger-grade AAVs, is subject to an uncertain or lengthy approval process; we cannot predict when regulations will change, and any new regulations may impose onerous requirements and restrictions with which we, our AAVs and our potential customers may be unable to comply. As a result, we may be limited in, or completely restricted from, growing our business in the foreseeable future. — EHang 2019 20-F"

"“Elliott renewed its call, first made in November 2023, for PSX to close its EBITDA/bbl gap vs. peers including VLO and MPC on a like-for-like basis.” — Citi Research, February 13, 2025; “An activist shareholder, Elliott, can be a positive catalyst for shareholders.” — Wells Fargo, November 29, 2023; “We agree that PSX’s midstream does not reflect full value...selling some midstream assets could unlock value.” — Bank of America, February 14, 2025; “Most investors we talked to welcomed Elliott's involvement in PSX.” — UBS, December 1, 2023"

"In 2022, it was identified that certain sale transactions with certain counterparties included the simultaneous execution of a corresponding contract to repurchase the same quantity of goods in the future for logistical purposes. In accordance with IFRS 15, such contracts should not be recorded as revenue from customers as such transactions do not relate to the selling of goods to the end customer. As a result, comparative amounts for revenue and cost of goods sold for 2021 have been similarly represented, with no impact on gross margin."

""These covenants apply to Darden and to certain of its subsidiaries but do not apply to Darden's subsidiaries that are not corporations." — Final Prospectus Supplement to Darden Restaurants, Inc. 3.350% Senior Notes due 2022, October 1, 2012; "Accordingly, Darden can contribute its real estate assets to a new subsidiary and designate that subsidiary as an Unrestricted Subsidiary. That Unrestricted Subsidiary could then sell and lease back its real estate portfolio, without having to repay debt." — Covenant Review, February 28, 2014"

""Trial leads are often given to a facility for like $100, sometimes even less. They're trying to incent physicians to do trial leads. The idea from a company's perspective is that if we get the trial we're going to sell a stimulator for $25,000." — Former Nevro executive; "A lot of doctors own a surgical center and Medicare reimbursement at ASC's for doing a trial is $4686 per lead... so, now I'm an ASC owner, and I'm a doctor. What do I do when I see questionable patients and injection pays $30?" — Former Nevro district manager"

"The public market guys, some of them are playing the momentum game and others have no idea what they’re investing in. When you watch the Q2 numbers come out in July and if we stay at kind of BTC $50-$70k range the music is going to end here… People are going to start to sell out of these stocks and realize that they [publicly listed miners] made the wrong investment decision over the years, prioritizing growth over operational efficiencies. — Senior executive, leading provider of products and services to bitcoin mining industry"

"The regulatory environment in China is evolving, and officials in the Chinese government, including at the local and central level, exercise broad discretion in deciding how to interpret, apply, and enforce regulations as they deem appropriate, including to promote social order. Regulators in China may change how they interpret and enforce the direct selling regulations, both current interpretations and enforcement thereof or future iterations. Regulators in China may also modify the regulations. — Herbalife Q1 2017 Form 10-Q"

""We've conducted dozens of focus groups across the country listening to hundreds of agents, home buyers and home sellers, learning why they were so dissatisfied with the legacy offerings and what they hope for in a better residential portal. We heard loud and clear that brokers, agents, sellers, buyers and investors all dislike, real estate portals that use agents listings as baked to drill in homebuyers and then sell them off to other agents as leads with exorbitant commission splits." — CoStar CEO, Q4'23 Earnings Call"

"The manner in which Dr. Kleinfeld chose to bolster Alcoa’s balance sheet, selling equity at the bottom, amounted to a bailout of existing shareholders – one ironically done at a significant opportunity cost to those investors with the misfortune of having participated. Had those participating investors invested in the Company’s self-selected proxy peers instead of placing their capital under the stewardship of Dr. Kleinfeld, they would have generated a return approximately 4x that realized on their investment in Alcoa."

"On December 4, 2012 the freenet.de GmbH (whose sole shareholder is the company), closed a contract with Media Ventures GmbH, Cologne, selling all of its freeXmedia GmbH shares. This transaction was carried on January 1, 2013. For the sale, a purchase price of T€ 4,080 was agreed. The amount was split in T€ 2,080 thousand payable in cash and the remaining T€ 2,000 payable until December 31, 2014 through offset with services from a media contract, which freenet AG concluded with the buyer. — freenet's 2012 Annual Report"

""On May 4, 2020, we completed the divestiture of the Security & Detection Systems and MacDonald Humfrey Automation solutions business ("airport security and automation business") to Leidos, Inc. for $ 1 billion (net cash proceeds of $ 950 million after selling costs and estimated purchase price adjustments), subject to final customary purchase price adjustments as set forth in the definitive sale agreement, and recognized a pre-tax loss of $26 million during the quarter ended July 3, 2020." — L3Harris Q1 2020 10-Q"

"“The percentage of product of any multi-level marketing company consumed by its distributors is substantial. This is not surprising since consumers who are enthusiastic about the products become distributors in order to purchase at a discount and possibly to share and sell the products to others. In addition, in order to minimize the risk of product being accumulated by distributors, the company has policies in place such as the 70% Rule, the Ten Customer Rule and the Buy Back policy.” — Herbalife 8-K (5-2-12)"

""If you use the hybrid solver, the hybrid solver has to compose QUBO problems... you can substitute quantum with classical and still get better results. So, the entire hybrid framework could be beneficial, but it’s not because of quantum, it’s because of its construct, and the quantum part can be replaced with classical." — Former D-Wave data scientist; "D-Wave is selling bullsh-t" — Executive at large multi-national technology and logistics company, former professor of quantum physics and quantum algorithms."

"“Ok, firstly I just mentioned that we are doing business globally we are selling products to different countries and we need to make sure we comply with tax laws regulations in all countries including China, Macau, other countries including US, UK. A lot of countries globally and if some of our transactions are conducted through Macau and we do make sure these transfer pricings are not in breach of any regulation of any countries, not just Macau. And we from time to time will arrange tax health checks” — CFO"

"Under the terms of the amended MIPA, it was agreed with the Sellers, that (i) revenue and EBITDA of Pub Ocean will be attributed towards Sellers' revenue and EBITDA targets under the MIPA with Perion; and (ii) Sellers will bear 40% of the cost of milestone payments that are ultimately payable to Pub Ocean under the Asset Purchase Agreement (as defined below), which will be paid solely by deductions from their own earn-out payments and certain escrowed amounts. — Perion 20-F Reports and Spruce Point analysis"

"“The company sells constant-speed drive shaft, car wheel units and drive shaft and other products. Revenue recognition for domestic sales meet the following conditions: the product has been delivered to the company according to the contract, and the amount of product’s sales revenue is determined, the payment has been collected or a payment voucher has been obtained, the associated economic benefits will likely flow to the company, the costs related to the products can be reliably measured.” — Wanxiang"

"While these inconsistencies suggest that there may be discrepancies in the sell side's view of the base of the market, we are intrigued most by the fact that, regardless of how analysts identify and measure the market, they appear to significantly underestimate the pace of competitive market share gains: again, the sell side appears to assume that Penumbra will lose 2-3% market share per year, while Medtronic claims to have gained 15% in under a year and to be on pace to capture another 10% this year."

"B. Riley has acquired Targus in a transaction valued at approximately $250 million on an enterprise value basis, which represents a multiple of approximately 5.2x Adjusted EBITDA for the trailing twelve-month period ending June 2022. Targus generated revenues of approximately $415 million for the same trailing twelve-month period. Financing for the transaction included approximately $85.5 million of bank financing, and $114 million of seller financing and B. Riley bonds. — B. Riley Press Release"

"“Nevro obviously through their actions knew that their metrics were flawed, because they were saying, ‘We have the panacea. It’s a car with five wheels and everybody with four wheels is behind.’ What does Nevro do now? They’ve introduced a four-wheel product and they’ve shut their mouth about their five-wheel and basically stopped selling it. They now offer not only a high-frequency IPG, but they offer a low frequency. They’re hypocrites. They’re liars.” — Longtime executive in the SCS space"

""We can't see selling, for example, our current hardware configuration of the starter kit, at an ASP of $850 to a broad population of patients who aren't going to wear it each and every single day. So the configuration needs to be easy to use, it needs to be small, it needs to be disposable and it needs to be inexpensive. We are not going to go in and charge people $200, $300 for a two week sensor session, so we have to develop economics around that." — Kevin Sayer – President & CEO, Dexcom"

"On May 4, 2020, we completed the divestiture of the Security & Detection Systems and MacDonald Humfrey Automation solutions business ("airport security and automation business") to Leidos, Inc. for $ 1 billion (net cash proceeds of $ 950 million after selling costs and estimated purchase price adjustments), subject to final customary purchase price adjustments as set forth in the definitive sale agreement, and recognized a pre-tax loss of $26 million during the quarter ended July 3, 2020."

"“Twist is not a big vendor, and they cannot offer many different things. They have their market, which is laboratories in universities, smaller startups, and some part of pharma, but they will not suddenly grow like crazy...what could happen in the future is that they go bankrupt or they collapse because at some point, if they are selling everything at a lower price, I don't know how they are going to compensate for that.” — Novartis, a large Twist customer, scientist in a leadership role"

""I am aware of the medication and have seen some of the data presented and looked at the paper. I have about 3 to 5 PWS patients at the moment. We do trials, so I expect we were contacted about the trial. We actually did it in our journal club with our group. And then I was just both at the European and the US peds-endo meetings. And I actually spoke to Dr. Miller. And, obviously, they were trying to educate/sell the drug." — Pediatric endocrinologist, division chief at an academic center"

"“My question is really on the sum of the parts discount in the stock... I think it's fair to say the most diversified refiner in the space, and you combine that with some stock underperformance over the past decade. So I guess I'm a little surprised that there's not more talk about potentially looking at selling some refineries or simplifying the business overall. And really, my question is just on how do you plan to monetize the sum of the parts discount?” — TPH&Co., November 9, 2022"

""My question is really on the sum of the parts discount in the stock... I think it's fair to say the most diversified refiner in the space, and you combine that with some stock underperformance over the past decade. So I guess I'm a little surprised that there's not more talk about potentially looking at selling some refineries or simplifying the business overall. And really, my question is just on how do you plan to monetize the sum of the parts discount?" — TPH&Co., November 9, 2022"

""My question is really on the sum of the parts discount in the stock... I think it's fair to say the most diversified refiner in the space, and you combine that with some stock underperformance over the past decade. So I guess I'm a little surprised that there's not more talk about potentially looking at selling some refineries or simplifying the business overall. And really, my question is just on how do you plan to monetize the sum of the parts discount?" — TPH&Co., November 9, 2022"

"3. If a plan purports to sell a product or service, check to see whether its price is inflated, whether new members must buy costly inventory, or whether members make most “sales” to other members rather than the general public. If any of these conditions exist, the purported “sale” of the product or service may just mask a pyramid scheme that promotes an endless chain of recruiting and inventory loading. — Debra A. Valentine, General Counsel for the U.S. Federal Trade Commission"

"The company benefits from a seller's loan on the acquisition of building I in the amount of €4 million with interest of 3.39% per year payable quarterly in arrears. The latter will be reimbursable no later than July 8, 2018 in one installment. The vendor credit has been left in the supplier account and the interest not yet paid has been recorded in the “supplier, accrued interest” account.” — Les Mas du Figuier SAS (France) auditor's report on the annual accounts, Dec 31, 2013"

"In the announced tender offer, counterparties after the privatisation of Toyota Industries are expected to repurchase their shares [...] with the majority of tax deduction benefit going to counterpart. — UBS, November 20, 2025; The bidders – with the assistance of TICO – are effectively hiding [...] the uplift gained from selling the shares back to the other companies at a discount via Tender Offers which get a different tax treatment [...] — Travis Lundy, January 14, 2026"

"“...they don't know true B2B sales, they don't do it. That's a totally new area. QuickBooks is a B2B product, but all the companies historically have been so small, it's sold B2C. Most people don't talk to a human. They come to the website, and they enroll...All of a sudden, you want to compete against NetSuite and Microsoft and sell software that will be tens of thousands of dollars a year, that's aspirational, that's not reality.” — Former VP at Intuit, Tegus, 9/8/23"

"The current average sell-side price target implies 13% upside, which we believe is hardly exciting in a world where you can earn 5% sitting in cash while avoiding the risks that, 1) Xylem mis-executes (like it has in previous M&A) with integrating Evoqua, 2) That the DOJ brings parallel charges against Evoqua similar to (or worse than) what the SEC charged, and 3) Financial restatement risk as suggested by Xylem’s recent disclosure of two sets of financial statements."

"“We look for geographic expansion in the admixture Ready Mix business and then we're trying to sell additional high value products through that distribution...It's a large fragmented market and where you have to have the density or the geography level in order to service the customers, right. It's a high cost to serve model with dispensing tanks, technical service organization, dispenser technicians, all of those things complete.” — Greg Poling, Former CEO, May 2016"

"With retail, you can't be half pregnant. You either commit to it or you don't. Firestone has really invested to expand their retail footprint and even the amount of advertising to drive traffic. Goodyear hasn't really committed. — Former VP at Goodyear; These are mostly auto service centers that happen to sell tires. As an industry participant, the stores are doing the brand no favors poor service levels, general appearance. — Former C-Suite Executive at Competitor"

""We significantly expanded this partner ecosystem in Q1, entering an important highly strategic alliance with Google Cloud to allow the entire Google Cloud global sales and service organization to co-sell and service the entire family of C3 AI applications globally. The 2 companies will tightly integrate C3 AI and Google Cloud technologies and go-to-market initiatives with the effect of accelerating enterprise AI adoption." — CEO Siebel, Q1 2022 Conference Call"

""Yes, yes, yes - some of the growth is that patients are getting one stimulator and then another as the new ones come out... I'll be conservative and say 25% of the market is repeat business and the more aggressive number is 50%." — Former Nevro territory manager; "We were pushing replacements of old devices... There was a push to sell upgrades when I was there. I didn't like the ethics. There's infection risk when you do the surgery." — Former Nevro sales rep"