Joel Wilhite: Yes. And just to capital, Darrin, I thing — the thing that I would say as we wrap that question is we do have a lot of optionality. So we have uncertainty relative to the macro, but we’re focused on investing in that growth, but we kind of have a lot of levers available to us to do so. So, great question.
Darrin Peller: Very quickly I didn’t hear an update on the number of new buyers added throughout 2022. Maybe I missed it actually. But I think it was 8,000 at the end of 2021?
Joel Wilhite: That’s right. Yes, we finished the year at 8,800. So, 8,000 to 8,800 at the end of 2022.
Darrin Peller : Okay. And you’re still expecting some a decent number of net new, or I know it’s a tougher macro but.
Joel Wilhite: Yes. I mean, look, Mike made a comment that we’re really kind of encouraged by the top funnel we see as we enter the year, and so optimistic that we can continue to add buyers along with continue to see good net retention expansion, yield expansion and deliver on the growth that we’ve committed to.
Darrin Peller : Cool. Great. Thanks guys.
Joel Wilhite: You bet, Darrin.
Operator: And the next question is from Tien-Tsin Huang from JPMorgan. Please go ahead.
Tien-Tsin Huang: Hey, Mike and Joel, I know you guys have answered a lot of questions already. I just have one more just on transactions.
Mike Praeger: No, happy to take your questions.
Tien-Tsin Huang: Hey, no. Happy to be on the call. Just on the transaction revenue retention, I think, it was 103. Did you highlight or say what you’re thinking for retention that same metric for 2023? But what I really wanted to hear was — what has the historical rate look like? I think it’s touched 107. I think it’s hovered around 103, 104, but if we go further back how has that trended?
Joel Wilhite: Yes, great question Tien-Tsin. And you’re right. We’ve sort of said that we see — and we have seen historically kind of pre-pandemic kind of at 104, 105-ish retention just underlying growth across our buyers’ volume. We saw that dip abruptly and then returned gradually over time that sort of gave rise to that 107 that you referenced that was higher even in the quarters post-COVID recovery. But we would expect kind of I don’t know normalish in the 105, 104 range. We don’t guide that specifically in our forward guidance, but certainly do see a little bit of an impact there from some of the belt tightening we talked about.
Tien-Tsin Huang: Got it. Thank you.
Operator: Ladies and gentlemen, this now concludes our question-and-answer session. I would like to turn the conference back over to Mike Praeger for any closing remarks.
Mike Praeger: Thank you. Well, again, I wanted to thank everyone for joining us here today. We’re excited about the opportunities ahead of us in the large opportunity that we’re playing related to accounts payable and payment automation across the middle market. And we believe our leadership puts us in a strong position to capitalize on this opportunity. Finally, I want to remind everyone about our upcoming Investor Day on June 1st in Charlotte, North Carolina. With that, we’ll close the call.
Operator: And thank you. The conference has now concluded. Thank you for attending today’s presentation. You may now disconnect.
