Warren Kanders: Yeah, absolutely. So, we officially launched the Safari Vault product, our new holster line at the Shot Show in January, and then we started shipping with some of the Glock fits this month. So, we’re definitely here out of the gates. What’s been interesting is we’ve had some major agencies do some testing of the product and do write-ups for that testing and how the weapon draws out of the holster because we’ve made a change in moving the locking mechanism inside the holster so that it doesn’t snag and there’s not potential damage that can happen to that ALS. They’re giving great feedback on that. They’re giving great feedback on the opened end of the holster where brass can get lodged and caught. We have an agency that that’s been an issue with new recruits and training, and if that happens, you can’t re holster the weapon if you have brass down inside the holster.
So that’s been a big positive. The guiding of the weapon in stabilization of the weapon into the holster is also significantly improved, what’s been a great feedback point. So, it’s very, very early in the game here, but we’ve getting — we’re getting some really good initial indications from customers. Now the question is going to be will it trip the refresh cycle? We don’t — we don’t know yet is the short answer. We’ll see as we go forward. We’ll see if these additional features and benefits that we’ve added to the product will trip that cycle. And then on the HYPERX product, that product’s been out longer than the new Safari Vault product, and we’ve had great results so far. Customers that we’ve not been in with our tactical armor product for special ops teams, SWAT teams, canine units, we’ve been able to win, various opportunities with the new product.
We’ve also reorganized a bit and pulled a resource out so that we have one resource that all he does is spend a 100% of his time focused on this product category, and he’s making great strides in the marketplace. So we’re very pleased with these two products as we’ve gotten outta the gates.
Jeff Van Sinderen: That’s great to hear. And then just regarding kind of the latest you’re seeing out there on the acquisition front, if you could maybe characterize I guess kind of the tone out there or sellers adjusting their thinking on price to more real realistic levels, is the broader backdrop applying pressure to the point where you may be able to take advantage of compelling acquisition opportunities sooner rather than later?
Warren Kanders: Yeah, we haven’t seen it massively change from what we talked about then to last year. I would say more often than not, we’re not seeing — not seeing companies really interested in selling really early. I think they’re still, whether the case, especially in the case where they have pro forma adjustments, they’re leaning more towards letting those pro formas fall into the trailing 12 and get — try to get paid on ’em that way rather than take a discount up front. But I’d say the level activity’s good. So I think there’s plenty of companies out there that are going to turn. It’s just a matter of when. And as Warren said earlier, right, this is — it’s a long game. We want to be careful that we can make the return work for ourselves first and be real careful on how we’re spending our capital.
Jeff Van Sinderen: Yep. As you should be. Okay, thank you for taking my questions. I’ll jump back in the queue.
Operator: And we’ll go next now to Matt Koranda at ROTH Capital.
Matt Koranda: Hey guys, good evening. Thanks for taking the questions. Just curious if there’s anything you can do on your end to kind of compress the refresh cycle. I know you called out $8 million headwind that you’re assuming in the guide. So is there any scenario under which you actually get the whole $8 million or a portion of that that you aren’t assuming in 2023?
