Nima Ghamsari: Yes, it’s a good question. The way that we sort of calculate this is these are existing signed customers for rollouts that are already planned with them. In terms of when that happens, some of these things for what it’s worth Michael or will sign a customer for two product lines have to dig one maybe they roll out the first product line in 2024 and the second big product line in 2025. And so, I don’t think it’ll all happen in 2024, but these are sort of pre-planned things that we’ve already started working on with our customers and a lot of cases to space out. And so — and I just also want to call out, I should have mentioned this in our prepared remarks, about half of that signed last year. And so, we’re feeling really good about the growth in that business.
Again, it’s going to take time for that revenue to come to be because of the way that we recognize revenue, but that business is really healthy and we’re seeing a lot of interest. And I don’t — I don’t know and give away too much on Q1, but the pipeline has been healthy and our customer list is growing. So something we’re excited about.
Mike Ng: Wonderful, thank you. And just on OpEx, obviously, you guys have done a good job with OpEx coming in better than expected this quarter. And it seems like you’re ready on track to hit that $130 million OpEx number for 2024 that you gave at the Investor Day. Are there opportunities to reduce OpEx further and exceed that 2024 target? And what factors might result in profitability coming sooner than the fourth quarter if it does? Thank you.
Amir Jafari: Thanks, Mike. I would say, starting with the latter as we think about it, obviously the macro has a component to that with regards to when it could we potentially have profitability faster. The piece that we’re focused on is really what we can control. And it’s indicative of just what you’ve seen on the top line, but also to your point where you’re seeing with regards to our operating expenses, we have stated this. I think we’ll continue to reiterate. We’re looking at everything that we do just through the lens of operational excellence. We’re checking and revamping a lot of our processes to ensure that there is velocity that there’s efficiency. It’s these types of things in addition to kind of what builders expose which is their ability for us to do things more efficiently, ironically as well.
The three things that are allowing us to kind of get to the point that you’re making which is we are we are performing quite well with regards to our expectations as it pertains to OpEx.
Mike Ng: Great. Thank you.
Bryan Michaleski: Our next question is a follow-up from Ryan Tomasello from KBW. Ryan, go ahead and unmute.
Ryan Tomasello: Hey guys. Thanks for taking the follow-up. Just on mortgage, I think you called out continued headwinds from churn. Can you quantify where the churn rates have been in recent quarters, whether on a percentage basis or revenue basis money? And also when do you think that might bottom out? And then also on the competitive side, how win rates in the mortgage business changed at all over the last year, just in general trends in terms of competition.
Nima Ghamsari: We don’t have this. We don’t share the broader sort of churn numbers. But what I’ll say is that, we’ve actually, in aggregate, we’ve kept our market share pretty steady based on our calculations throughout the year. And so, while there is sometimes churn, I think the market share being steady and the revenue per funded loan going up, the combination of those two things, it’s just setting us up for the future. And some of the customers that churned, who churn to lower costs and free solutions, some of them are already starting to plan and come back to us. Those kinds of things become you know indicative of I think where the market needs to be in the future which is being able to scale. As far as the competitive environment, I would say in the top 50 to 100.
It’s pretty similar to what we’ve always seen, Middleware suite banking credit union. That’s our sweet spot. That’s where I think we do the best the biggest banks and credit unions. We also have some of the biggest IMBs. And when we’re brought into a process and we are competing head-to-head. I haven’t seen any notable changes in our win rates in network. So if anything like I said earlier on that than the prior question as the market has stabilized and people are starting to look towards the future again, it’s really benefited us.
Ryan Tomasello: Great. Thanks for that color. And then another follow-up for Amir, the share count guidance looks like it implies incremental growth of around two million shares in 1Q? And is that a reasonable run rate for share count growth going forward? And then just broadly, if you can discuss your approach to managing dilution from stock comp, if that’s a focus as you think about managing the business to profitability inclusive of that of that burden going forward.
