In this particular quarter, we did have a year-on-year decrease in that metric, as I mentioned in the remarks. And that was not because we’re not seeing good increase in average customer volumes. It was due to the fact that last year we had two very large orders shift which skewed the average revenue per customer metric. So it’s a little bit of a technical answer there, but we have in general been seeing pretty steady increases in average revenue per customer on the lab essential side and are certainly expecting that going forward, depending on the rate at which depends on the health of the overall market and when kind of more normalized revenue ordering or order patterns return next year. It will be dependent on that.
Anna Snookowski: Thank you.
Matthew Lowell: Thanks.
Operator: Thank you. Please stand by for our next question. Our next question comes from the line of Mark Massaro with BTIG. Your line is open.
Unidentified Analyst: Hey guys, this is Vivian [Ph] on for Mark. Thanks for taking the question. So just on the narrowing of the guide, you’re assuming that the current funding environment continues, can you just remind us what percentage of your customer base you feel you have visibility on and just how would you characterize your customer base as far as the percentage of smaller emerging biopharma? Thanks.
Stephen Gunstream: Okay, so I think the question is around what percent of our, what visibility we have, and particularly you’re interested in the biopharma side. Is that accurate?
Unidentified Analyst: Yes.
Stephen Gunstream: Okay, so we don’t typically disclose the exact percentage of the biopharma, I can say that generally biopharma is probably about half of it, of which, half of that is emerging biotech, let’s just say put it in that ballpark, right? And we have seen a significant decline there. There’s two pieces of this that make me confident. One is obviously that is related to the funding, we can see that directly. The other piece is that we have the rest of our business, which is actually is growing quite nicely. So, as this stabilizes, that’s why we’re pretty confident about where we fit long-term as we onboard these customers.
Unidentified Analyst: Okay, perfect. And then just to dig into OpEx a little bit more, can you guys discuss how you’re thinking about cash utilization after the financing and just what you’re prioritizing as areas of investment, maybe on the commercial org versus where you might look to pull back?
Matthew Lowell: Let me take a stab at that one. So, in terms of OpEx, as we discussed a little bit, right now, we feel comfortable with the investments that we’ve made, you highlighted one area, which is in the commercial side and the team that we’ve built there and the other investments that we’ve made, branding, website, etcetera. And then we’ve also been spending in OpEx on our new product development team. And Stephen alluded to some of the product launches that we have made and plan to make there. So, we’re continuing to invest as we see those as critical to building awareness and relationships with companies in our target market. So, we’re not pulling back anywhere there. We have over the course of this year, as I mentioned, with over $9 million in annualized savings, we have reduced in many different areas where we felt that we needed to do so, or there were capabilities that might not be needed to execute on the near-term priorities.
So, that’s where we’ve, and obviously that’s in areas of GNA, in some cases in the manufacturing itself, and also sprinkled throughout the organization, engineering and some other areas. So, those are the tough decisions that we’ve had to make and we continue to make. As I said, we are not expecting dramatic reductions in OpEx going forward in order to preserve those investments, but we feel confident that we’re making the right decisions there.
Unidentified Analyst: Awesome, thanks for taking the questions.
Matthew Lowell: Thank you.
Operator: Thank you. I’m showing no further questions in the queue. Ladies and gentlemen, this concludes today’s conference call. Thank you for your participation. You may now disconnect.
Stephen Gunstream: Thank you.
