Drew Ranieri: Got it. Thank you. And maybe just a little bit more clarity on how we should think about the product exit for 2023, if there’s any way to think about the weighting of what you are going to be doing? I know you don’t want to get into specifics of kind of Chronic Care or Pain, but can you at least help us with understanding the cadence for 2023? And just with 2023 with your guidance, the low single-digit growth rate, we should be thinking around like $790 million to $810 million for reported revenue for 2023, is that the right range? Thank you.
Michael Greiner: Yeah. I think you are — I think we are probably a little higher than the $790 million, just based on the timing of some of the exits. But, yeah, $795 million to $810-ish million feels like the right range. You did that math correctly, Drew. And so, again, the timing is incumbent upon some of those relationships. We believe we have responsibility to some of these customers from a medical device product standpoint and so some of these we can do sooner, some of these we are choosing to do later. There are some opportunities to work with distributors in some of these categories to hand off one year, two years of inventory and have them continue to run that, maybe even by some of our assets for a few dollars. So there’s a range of things we are still very much working through on the as timing. But your math broadly — your range is appropriately stated. Did I answer that, Drew?
Operator: The next question
Drew Ranieri: All said. Thank you, Michael.
Michael Greiner: Yeah. Thanks, Drew.
Joe Woody: Thanks, Drew.
Operator: The next question comes from Dave Turkaly with JMP Securities. Please go ahead.
Dave Turkaly: Great. Thanks. You mentioned the new CCO position and you mentioned some synergies and kind of putting Chronic and Pain under one organization. I’d love to — again, it doesn’t sound completely intuitive that, that would be the case that there would be opportunities like that, but maybe you could highlight some of the areas where you see those opportunities and why that makes the most sense?
Joe Woody: Yeah, there are a lot of areas where we are seeing headcount opportunity and strategic marketing, areas like customer service. Really, Kerr’s taking also a look at the way he spends and the returns in various areas of the business and so that’s been actually a strong piece for us. He’s also looking at his channels right now. There’s opportunity deploy our channels somewhat differently and in some cases utilize 1099s to help expand our business and it also addresses sometimes some of the cost of the of sales. So all those areas are areas that are built into Michael’s plans.
Dave Turkaly: Got it. And then the comments you made on the EBITDA north of 22%, free cash flow above $100 million, is that what you expect to do at the end of the three years? So, like, say, exiting 2025, is that the time line for that?
Joe Woody: Yeah. That’s correct. At the end of 2025. Yes.
Dave Turkaly: Great. Thank you.
Michael Greiner: Dave, to get to that question, we will have some more specifics around the pacing on that. One of the signals, obviously, we are providing today is that we exited the fourth quarter at 20.8% EBITDA margin. Last year, we exited the fourth quarter at 16% and we did full year this year at 16.8%. We are not going to do 21% in 2023. But these are how the pacings will work for us, right? Our Q4, ultimately, as we manage our portfolio optimization, some of this offsetting cost opportunity, those — these are the text numbers we produce on an annual basis, not just the Q4 basis.
