Jack Vander Aarde: Okay. Great. That’s helpful. And then maybe just a follow-up on – in terms of the guidance and the recent outperformance in terms of the guidance you set. It’s good to see you guys set expectations that you believe you can beat, and clearly you’re doing that now. Looking at the second quarter now with your guide, is there anything that factors into that guide that maybe played out in the first quarter that kind of caused that same upside? How confident are you in this guidance level? And how conservative is it relative to maybe what could happen? Thanks.
Greg Wiggins: So I think we can look at that a couple of different ways. There’s the top line guidance we’ve given and then there’s the adjusted EBITDA guidance that we’ve given. If we take the top line, I think there were some internal processes that we needed to refine internally. Some of them were the changes we made to the management structure of the organization, in terms of the reporting chain and just how we went about our process for delivering on the forecast that we provide externally. So there were some changes on that front, some accountability changes that we had to go through internally that I think is really helping us. I think also just getting out there and having that interaction with our partners, with our customers, with other key players in the industry as far as what they were seeing and really being able to refine how we call the top line.
As far as our outperformance on an adjusted EBITDA basis, some of that obviously was revenue driven. Certainly, I think we were – I think, in fairness, probably a little conservative in Q1 as there were some noise as you can expect with a lot of the transition that we wanted to do internally to reduce OpEx. Obviously, a lot of it was on the head count reduction time frame. And some of it was just the timing of when those when those changes were going to be able to be made and the related costs associated with those changes. We were able to execute on those plans probably a little a little quicker than we anticipated. But I think it’s also just better discipline in the organization as far as just controlling other costs as well, which gives us some optimism as we proceed throughout the year that we got some – we’re on a good track, we’ve got some momentum in – as far as continuing to manage our costs going forward in other areas outside of just employee-related expenses.
Dale Strang: Yes. And my only addition to that, Jack, would be one way to look at the market is the overly general global forecast. And the global market for IFPDs has been declining now for several quarters. And those year-on-year declines are starting to get smaller, which is what we predicted and what we’re planning on and hoping continues to happen. And so that’s one reason both for caution and – our job is to calibrate what we’re hearing from our customers against that sort of global outlook, and we’re seeing some really encouraging signs, particularly at various markets in Europe. We’ve got – you can look at the European market and say, I think in Q1 it was roughly flat to last year in terms of panel shipments into the market.
But we actually picked up a pretty substantial amount of order shipment volume relative to last year’s Q1. And in some markets, we’re growing really substantially. For instance, Spain and Germany are great drivers of growth within the market. So our job is to – one of the areas we’re focused on is to get the right signals from each of our markets and regions and translate that into a reliable forecast for you. We’ve had one successful one for the first quarter, and we’re going to continue to be as optimistic as caution allows us to be going forward. So that’s the best I could do as far as Q2. It’s just we haven’t refined it yet, but we’re in the process of doing it.
Jack Vander Aarde: Okay. Great. And then maybe just one more. Typically, the third quarter is sort of the seasonal peak for you guys in terms of your revenue. Do you – I know you’re not providing explicit guidance, and the customer orders sound like they’re on track, but we’ll kind of see as we go here. But how do you feel about that third quarter? Is it set up for a – to be the strongest quarter again this year? Or are we still kind of testing the waters?
Dale Strang: The market really doesn’t give you that kind of signal. We’re happy with the level of bids and conversations and other – the order intake, we’re happy with. But we – it never gives you that – the only kind of reliable signal that we seem to be able to focus on is history. And if you look at the seasonal history of our market, our first quarter – the first quarter generally is somewhere between 15% and 20% of the year, and almost never 15%, not usually 20%. And so if the first quarter is accurate, we’re spot-on for our revenue expectation of flat, and Q3 would be part of that. But we’ll know more as we get further into Q2. And we’re probably some weeks away from really having any reliable signal about Q3.
Jack Vander Aarde: Okay. Great. Well, congrats on the recent progress and look forward to tracking the story. Thanks.
Dale Strang: Appreciate it.
Greg Wiggins: Thanks, Jack.
Operator: It looks like we have no more questions left in the live queue.
Dale Strang: Well, if there’s no more questions, I want to thank everyone for your support and for joining us today. We’ve had an encouraging start to 2024 here at the company. I’m increasingly confident we’re on a sustainable path for success. We have an understanding of our challenges. We have a plan in place to drive those improvements and to measure them as we go. I’m incredibly proud of our team for responding to those challenges and operating with the professionalism and energy and creativity for which they’re known. And I look forward to speaking with you again when we report on our Q2 ‘24 results. Thanks again.
