Jikun Kim: Yes. So and again, we don’t break out the subcomponents of the revenue, but you can see that our TSP has a very large impact on our business. And so what you’re seeing is the continued — our customers continuing to rebalance their inventory positions. In terms of recurring revenue, I would hope that we could do better.
Adam Beavis: Got it. Thanks so much.
Jason Cohenour: Sure.
Operator: Our next question is from Scott Searle with Roth. Your line is now open.
Scott Searle: Hey, good afternoon. Thanks for taking my questions. Jason just wanted to extend my condolences to you, your team, and Jeff’s family and, you know, his untimely passing. Maybe to follow-up on, you know, to follow-up on some of the earlier questions. I’m wondering what is the level of normalized TSP that you would expect? And then on the OpEx front, Jikun, that’s been coming down. It sounds like there’s more that’ll come out in the back half of this year. Is there an absolute number that you could calibrate us with?
Jikun Kim: Yes, so I mean, so most of the cost reductions that we implemented on the OpEx side were done earlier in the year. We just had transition periods where that we had to make sure that, you know various tasks that employees were responsible were transferred to the appropriate people. So you’re going to see, I mean, it’s not going to be, you know, $3.8 million, quarter-over-quarter, but it should be a little down and yes, it’s not a lot, but just a little bit. In terms of TSP, yes, I mean, it’s normalization of TSP. I mean, I can tell you in 2021, we did $104 million and in ‘22, we did $91 million in ‘23, we did $110 million, right? Those are historical numbers. Need to figure out obviously when we can get back there, you know, and whether that’s you know sustainable or not as our customers you know provide us feedback and information. Jason, any thoughts on that?
Jason Cohenour: Yes, just a little more color, Scott, on the TSP’s. I mean, it was the part of our business that was considerably softer than we expected in Q2. So down considerably from Q1 and down considerably from historical run rates. So we believe we’re battling through this inventory rebalancing thing, but we’re also conscious of the fact that our TSPs operate in a very competitive environment, right? So we need to keep an eye on that as well. You know, we’re hoping we’re around stability here, Scott, and we can grow from here. But, you know, to be candid, there’s still a little bit of uncertainty around that channel, where inventory levels are and should be, and the ability of our TSPs to compete in a pretty competitive marketplace. So I would say we’re getting our arms around that. Obviously it’s priced us in Q2 and we will know more in the quarters that come.
Scott Searle: Okay very helpful and as my follow-up and perhaps a little bit unfair given the transition in current events. But as you start to think about the convert and what you need to do to be able to refinance that, it implies that EBITDA levels are higher than where we are today. Clearly you’ve got to get the top line going a little bit more and more subscription. It seems like OpEx has been tightened up. I’m wondering if you could talk a little bit about timing and model as it relates to EBITDA margins or otherwise as we get out several quarters from now to think about that? Because I guess you got to be getting close to doing 10, 12 or more in terms of quarterly EBITDA to be able to fully handle that convert? Thanks.
