Jim Lawson: Thank you for the question, Michael. We love our partnership with Hero, we view this as a horizontal opportunity to provide unique capabilities to our customers who are seeking to reach multicultural audiences across the spectrum. We think that our AdTheorent predictive audience products enable a lot of customization in that area. Hero has been fantastic in market getting us opportunities with some very exciting brands and agencies. So that is progressing along quite nicely. And we will provide — we expect the Hero multicultural, horizontal, again not a vertical, but a horizontal. We expect that to tap into budgets intended for multicultural budgets within a number of different verticals across our business. And we think that that’s going to drive a portion of our growth in 2024.
So we’re excited to see that show up in the results. But it’s early. So they actually drove a number of exciting deals in the fourth quarter, which we’re excited about. They contributed to that positive end of the year. And I’m very confident that as the year progresses, the Hero partnership is going to be a big part of our success.
Michael Kupinski: Got you. And then I’m always looking for what could go wrong. So, I know that you’ve been configuring your systems for the post cookie world. But is there a chance that Google implement some technology that renders some of that work problematic for you, maybe for them, for you to use with their systems or those of aggregate data exchanges?
Jim Lawson: Yes, well, I mean, we’ve been actively working with Google, and with the Google Privacy sandbox and post cookie framework, we’re in the weeds there. Our tech teams are doing testing with the API’s. We are iterating with Google and we have a clear line of sight into what that’s going to look like. And from where we said, it’s a positive story, it’s the story of replacing a cookie, which is an inherently individualized piece of information. With more aggregated data, that, again, that’s more important for us anyway. So when we optimize buying media, when we optimized buying media impressions, what we do is we look for high indexing attributes that are present. And when those high indexing attributes are present, that are driving conversions, we try to find other impressions that look like that.
So we’re not looking for IDs. So the deprecation of the cookie doesn’t impact our modeling, our ability to get information back from Google, so that we know when we drive a conversion that we can have aggregated data about all the conversions we’re driving. That’s what we need. And we’re pleased to see that that’s what we’re getting from that post cookie framework. So no, I mean, it’s early, it’s still early. Only 1% of Chrome cookies have been deprecated. There’s a lot of work to be done. But I think we have the right team to do that work. And I think we have an advantage in a head start, frankly,
Michael Kupinski: Yes, thanks for the color there. Last question, given your healthy balance sheet, any M&A that you might be looking for to enhance your growth. Can you just give us your thoughts there?
Jim Lawson: We’re always looking for great opportunities. We’ve been heads down on — we’ve never acquired technology, we’ve never acquired anything. I mean, we’ve built everything homegrown we’re relatively small business, 300 employees. We definitely can see a role for targeted M&A and other strategic type combinations as being a part of our future, there are a lot of good arguments for that. On a day to day basis, we’re focusing on executing against our product and tech roadmap, and driving our financial outcomes that position our company for strength and give us opportunities. But absolutely, I think the types of opportunities you’re mentioning are exciting and something we’re definitely looking at closely.
Michael Kupinski: Great. Thank you. That’s all I have. Congratulations again.
Jim Lawson: Thank you, Michael. We appreciate it.
Operator: And there are no further questions at this time. I would like to turn the conference over to Jim Lawson for closing remarks.
Jim Lawson: Thank you, everybody, for being here today. We had a great finish to 2023, we’ve reached an inflection point in our business. In ’23 growth accelerated growing from 9% in the third quarter to 15% in the fourth quarter. We hit our targets that we set at the beginning of the year. Growth came from our strategic investments which are paying off self-service and predictive audience solutions health. Our customers are spending more on average of 12% in 2023. This growth is translating into great profit with 34% EBITDA margins in Q4. In closing, I would be remiss to not thank the AdTheorent team, for continuing to execute at such a high level. Our momentum is continuing into 2024 and we look forward to speaking with investors again very soon.
Operator: And this concludes today’s conference call. Thank you for your participation. You may now disconnect.
