Virgilio Gibbon: Marcelo, I will get the question about the prep course here. So this is basically regarding the Medcel operations. So the nine months, we are operating below the trend when you compare to last year, the same period last year. Remember that the seasonality — we have the new offer for 2024 cohort starting in end of September, October. So what we are seeing from October and November that the volume intake that we are seeing, it’s ahead last year. So it’s the first month when you compare to the last 12 months that we are seeing a stronger intake from when you compare to the last year same period intake. So we expect to reduce the gap between last year and for 2024, resumed growth also on prep course offerings. So regarding the Digital, Blanco will give more color for that.
Luis Blanco: Hi, Marcelo. Blanco speaking here. Medcel tends to have a pushback on the Digital results as a whole, Medcel, it’s not our most important business in the Digital. We — it’s lagging with white book, it’s lagging with our white book. But as you noticed in our release, the number of students of Medcel decreased more than 50% year-over-year. Now we can have this new intake that started here in the fourth quarter that we can recover and stop this fall from the last year. So the Digital as a whole, to achieve this BRL1.2 billion net revenue that we have guided for 2028 has to grow around 35%. And you are right, we delivered 19% in this quarter. But this drop on the net revenues come mostly from Medcel. If you take the main important part of the [indiscernible] business, we are growing around 30%, okay?
The numbers of the active base users are growing 16% and the number of the B2B business is growing 75%. So we have this specific pushback because of Medcel. We took all the actions on that and for the first numbers of the fourth quarter, as Virgilio mentioned, we saw a recovery year-over-year.
Virgilio Gibbon: Just summarizing that, Marcelo, the way that I like to see that is that separating on Digital, the Pillar 1 that is basically medical education, medical education, most of that comes from Medcel operations. And even combining Medcel operations, there is a business to physician type of business with other programs that we have on Pillar 2 and also Pillar 3. We are growing on B2B more than 14%, even considering the downturn coming from Medcel. But if you see the B2B business that we started ramping up last year, we are moving above 75%, at least where we put our efforts here to leverage our Digital operations. So this is basically medical practices (ph). So on Digital, medical practices (ph) is growing faster than expected. But when we have the Pillar 1 that’s more regarded to medical education impacted by Medcel operations, it is just expanding 14% year-over-year.
Renata Couto: If I may complement, Marcelo, other thing that’s important to remember is that when we look for the future of the company, especially in the Digital, what comes mostly of the money comes from the B2B part of the Digital Services, right? And to accomplish that, we don’t need the Pillar 1. Let me — I don’t want to make you guys think that that’s not important or that. But to complement a strategy here, we need to have the contact with the physicians, right? And the products that most matter here is the products that are Pillars 2, 3, 4, 5 and 6. So Medcel, it’s really important to [indiscernible] we want to keep up with the physicians, but what we are seeing with Medcel, it doesn’t make us believe that we cannot achieve the BRL1.2 billion or anything like that, okay? Our B2B segment is going great.
Marcelo Santos: Perfect. No. Thank you very much for all the explanation.
Renata Couto: Thank you. So the next question comes from [indiscernible].
Unidentified Participant: Thank you. Thank you, Renata. Good evening, everyone. I have two questions as well. If I can just go back to Mais Medicos program, just trying to get your understanding, do you think that eventually, as it looks like the restrictions of the request per institution, they are more restricted than previous programs. Do you think that eventually this could bring an opportunity for you in terms of M&A as I don’t know, maybe smaller companies gaining some of these seats and eventually, they don’t have the CapEx to do the investment and then you could eventually buy in the Mais Medicos more seats than you can request? That will be my first question. And then the second one, more like a perspective. If you have any idea or any view when the Supreme Court would eventually restart or resume the case of [indiscernible] as well? Thank you.
Virgilio Gibbon: Hi, France (ph). This is Virgilio. So about the first question, there is a restriction about two proposals for each institution. They are also limit and allowing small players to be differently and also in two different cities. So thinking about the M&A opportunities here, for sure, we may have some small players that they can come to the table with new opportunities for M&A, but being very sincere, it’s not something that we are thinking right now. We still have a hot pipeline for more traditional schools. And seeing the size of our pipeline coming from the Mais Medicos 3, more than 30 new possible institutions, I think this is much more important than thinking about acquiring additional institutions that will be implemented using Mais Medicos 3, so this is what we are thinking right now.
Secondly, about the Supreme Court, we are seeing that the other judge, the other federal judge is moving and having a lot of question coming to the sector. I think they are preparing to release additional votes. Maybe we’ll have some additional votes that is still pending by the end of this year. So maybe in November, we can have one or two additional judges voting, but for being very sincere, we don’t know if they will complete this session by the end of this year or start in 2024. So we still — a lot of speculation about that. We don’t have anything that would be more tangible for you guys right now, okay?
