Ciaran Joseph Long: On Rebdolls, first, so Rebdolls is doing about $10 million in revenue in net sales for us and kind of an immaterial amount of EBITDA with that. And so that’s kind of as you think about FY ’23, you can remove those numbers. From a balance sheet perspective and liquidity, I think we are very focused on strengthening the balance sheet, bringing down inventory and bringing down our leverage. And I think we’ve obviously got a couple of key levers on that. I think what we did in the back half of last year was a good insight rate of just $24 million from operating cash flow. I think as we go through this year, we’ll certainly have — continue to make improvements to bring down our inventory dollars. You can see units are coming down faster than the dollars, but we will make sequential improvements in Q1 and continue that throughout the year.
I think the other thing as we think about kind of when you kind of pencil us in against last year’s cash flow, there were some one-off payments there from an accrued liabilities perspective, some final payment to Minimal, some final payments on IPO costs that we won’t have those this year. So that will, again, improve working capital. And then just CapEx being down $10 million year-over-year is obviously a big benefit for us as well as we think about the cash flow for next year. And so look, I would say they are the main drivers and levers that we have, it’s an area of focus for us with improving sales, improving EBITDA and improving cash flow is really how we’re looking to run this business.
Youssef Squali: I guess related to that, so as we try to get to a free cash flow number for 2023, is it as simple as looking at EBITDA, taking out the CapEx? And is that a good proxy? Or do you expect working capital to be in that negative for you guys?
Ciaran Joseph Long: Good question. I think in Q1, there will be a little bit of negative on the working capital Youssef, and that’s really just kind of timing of some of the Q4 payables, right? And I think the — after that, we will be in positive operating cash flow generation each quarter.
Operator: At this time, we’re showing no additional questions. I will turn the floor back to Ciaran Long for closing remarks.
Ciaran Joseph Long: Yes. Thank you all for joining the call, and thank you for your best wishes for Jill, I know and she would love to be here. She’s probably listening at home. I think — yes, look, I think there’s a lot of great stuff going on in this business. We’ve got 4 great brands, and they really have a lot of long-term runway ahead of them. And I think the initiatives that we have will certainly kind of continue — will continue to build on them. And there’s a lot of strength in these initiatives as we go through 2023 and look to €˜24 and beyond. And thanks, everybody.
Operator: This does conclude today’s conference. You may disconnect your lines at this time. Thank you for your participation.
