Terrell Tillman: And then sorry for that, like, 15 part question, and this is the final question, and it’s a one parter. It does seem like going forward, the model could have less volatility, particularly with platform fees. And I know it’s early, but could you give us kind of a guidepost how a typical deal would look like in terms of how much of the deal would be those more recurring platform fees and then how much would be activity, if I think of like a percentage of a dollar between the two or something? Just some sort of balance of the two.
Nima Ghamsari: We’re not going to share that right now, Terry, because its still evolving. But its a newer concept that we said we introduced late last year, early this year. And so we are vetting out with some customers as we get more color there. We plan to spend more time with you all later this year and we will walk you through that model in detail. I just want to to say one other thing on the sequential growth. One thing that we look at is applications and we have — for example, we looked at applications in Q1, which are an early indicator for closings, not always, but seem to be an early indicator. And that’s what gives us more confidence that the outlook is a little better than every quarter — the quarter forward than it is today if that makes sense.
Winnie Ling: Our next question comes from Michael Ng from Goldman Sachs.
Michael Ng: First, I just wanted to ask about the the cadence of non-GAAP operating expenses for 2023. Anyway you could help us with how we should think about that for the first quarter and how that will progress throughout the year. Certainly, appreciate there is some macro uncertainty. But this feels like it’s more directly in your control. And then second, it’s encouraging to hear about the expectation for per funded loan rates to increase overtime. When should we expect those feature sets to expand to help that funded loan rate number, is this something that’s more meaningful this year or was that a longer term comment?
Nima Ghamsari: Michael, let me start with what you asked with regards to non-GAAP operating expenses. As you heard in our guidance, we don’t give specific feedback or guidance as it pertains to operating expenses for our outlook. What I would point you to is what we’ve shared with regards to our net operating losses. And what we highlighted was a great progress with regards to the actions that we took, not just in 2022 but also in January 10th. We’re on track as we reported and very focused on the thing that we know we need to take and the profitability that we’ve kind of paid for ourselves just indicative of the work that with regards to provide customers through the add-ons solutions and products that carry us throughout the allow us to provide more value to our customers.
It’s not something that we’re going to speak to today as it pertains to forward looking, but we will come back to it in the future. And what we shared with you is just where we are right now.
Winnie Ling: Our next question comes from Joe Vafi from Canaccord.
Joe Vafi: Just on Builder, just you know it’s very early. But you can give us a feel for the types of customers or financial institutions you’re engaging with there, is there any change in size or I guess perhaps entry point with those financial institutions kind of versus your, I guess, kind of some of your historical products? And then I have a quick follow-up.
Nima Ghamsari: Was that a question of Blend Builder, Joe, just so I
Joe Vafi: Yes, it was on Builder.
