Matthew McRae: Yes. So the — it will lean into definitely the new product launch, which is our new Essential 2 product. And I think that’s a match of what we see just happening in the macroeconomic environment. So we’re meeting the consumer where they are. From a unit perspective, it will be probably our largest quarter as a company from a holiday perspective. So we’re excited by it. The plan is multichannel, I already mentioned the activity we had at Amazon earlier in the quarter. The Walmart deal is live as of yesterday. And you’ll see some more unfold, obviously, through November and the beginning of December. It’s probably the most robust holiday plan we’ve ever had. And it will be leaning — as it usually does, leans into the most – the most recent or the newest product at launch, which this year is essential to.
Kurt Binder: And then from an inventory perspective, I mean, as we heading to fourth quarter right now, as we communicated, we’re sitting in the $53 million to $54 million range, which, frankly, is a very comfortable level for us. Now we will be stocking up a bit in the early part of Q4 with the ability to replenish over time as these promotional campaigns execute with our retailers. So I think we’re well situated on our side from an inventory level, and we feel like the retail channel themselves, those retailers are in good standing as well. So I don’t expect any concerns of meeting the demand. The demand seems to be evident in presence. We’ll have sufficient supply, and we’ll monitor it throughout the fourth quarter and make sure that we set ourselves up for success heading into Q1 of next year.
Hamed Khorsand: And when looking into Q1 of next year, with the 50% conversion rate, how much of a significant do you expect in the retail ARPU?
Matthew McRae: The retail hardware or retail service?
Hamed Khorsand: No, the service ARPU, right? Because you’re giving away 90 days.
Matthew McRae: Yes. Actually, our new — yes, so our new trial is actually 30 days. So some — where it used to be relatively easy to take the entire volume, shipped volume our POS volume in Q4 and say that will be service revenue in Q1 because of the 90-day free trial. As we’ve migrated to a 30-day trial, it’s a little barrier. So some of the sales, hardware sales in Q4 might see some increased account activity in Q4, some will actually be in Q4 and spill over into Q1. Holiday quarter, Q4 always brings in some other timing variances. A lot of people buy products — and even if they buy in October, they stick it under the tree and don’t open it until the end of December, potentially early Q1. And so there’s some shifting there.
So from an ARPU perspective, we’re not expecting big shifts in ARPU. What I would say we’re looking forward to is service revenue lift from potentially having more new households formed over a robust holiday period. And that’s — but that’s some of the normal seasonality, I think we’ve always had in our business. It’s just — it’s a little blurrier as we move to a shorter free trial period.
Hamed Khorsand: Great. Thank you.
Matthew McRae: You’re welcome.
Operator: There are no further questions at this time. This does conclude today’s conference call. Thank you for joining. You may now disconnect.
