Patrick Goepel: I think some of the channel business around some of the onetime revenue probably was good momentum from CPA firms and some market firms around earned retention tax credit. So that obviously was good momentum, and the volume of the backlog probably was a little bit unexpected coming into the quarter. So very pleased with the performance in that area. And then the direct sales force, really with the product lines that we talked about, their ability to execute and deliver revenue in the quarter. Clearly, we were happy with that. We guided to a double-digit repetitive revenue and to surpass that in both the indirect and direct side was positive, but the direct side on a repetitive side was very, very encouraging to see. And that helped us in the 2023 guide to guide up.
Jeff Van Rhee: And the new customer momentum, where are you seeing greater new customer momentum on the licensees or your own direct efforts?
Patrick Goepel: I would tell you, I think the cross-sell component in the license area has gained a lot of momentum, and we’ll continue to gain momentum in 2023. From the direct side, new logos have done really, really well. And in some of our partnerships around the new logos, that feed the direct business have done really well or we anticipate we’ll do very well in 2023. So we made a lot of tax announcements including Workday and PRISM and those things. We’ve had a lot of marketing work on behalf of those partnerships, we anticipate those to be very, very strong. And then HR compliance on the direct side, the bundles are really working, especially in the second half of the year. We anticipate that, that momentum will continue and feel really good about that as well.
Jeff Van Rhee: Maybe one last if I could sneak it in, then just update us on your macro thinking versus 90 days. 90 days ago? How has it changed?
Patrick Goepel: John, I don’t know if you want to comment and then I’ll comment.
John Pence: Yeah. I mean I don’t think it’s really changed. Again, what we’re seeing from our perspective is this is not a main street recession. There’s still — where we see the jobs being shed are in the bigger tech firms and the bigger firms. Obviously, that’s not our client base. And so we’re not seeing a lot of degradation right now and knock on wood, hopefully, there’s no contagion effect, but I don’t think it’s really changed much since the last time we got to give you guys an update on that perspective.
Patrick Goepel: Yeah, Jeff, very similar. But what I would say a couple of things. interest rates, probably there’s maybe a raise in interest rates more or 1 or 2 in the forecast prior to 90 days ago, that’s only good for us as we sit on over $200 million average daily balance. So that’s a slight positive. And then what John said, I don’t think a mild recession would hurt us. But I think back to the Main Street. There’s still the businesses that we serve, they can’t hire enough people. And then if you think about some of the marketplace, we’re rolling out like Earned Wage Access, what that will be able to do is, an employer can confidently say, hey, work today, get paid today. So we think that, that will be good. And then when I think of the effects of COVID, pick your number, pick your source, but the bottom line is people dropped out at a workplace and they haven’t come back.
We believe that if we have a mild recession and your 401(k) becomes a 301(k), it might kind of drive people back to the workforce. And if it does, in Main Street America, that’s really good for Asure Software.
Jeff Van Rhee: Great. Thanks so much.
Patrick Goepel: Thanks, Jeff. Appreciate it.
Operator: And thank you. And our next question comes from Vincent Colicchio from Barrington Research. Your line is now open.
Vincent Colicchio: Yeah. Pat, a terrific quarter. On the growth side, what was the contribution of acquisitions? I know it was small, but — and also, curious what portion of the organic growth was driven by the improvement in float income?
