Jikun Kim: Yes, so, you know, again, we provided next quarter guidance, but I can point in some direction from the current quarter, if you like, right? So we missed revenue guidance. The midpoint would have been $70 million. That would have generated roughly an $8 million revenue increase — I mean, our revenues would have been $8 million higher. You can add a gross margin number to that. And if you make the assumption that, that drops down, you kind of get a feel for where we could be, have our, you know, revenues normalize sometime in the future. And I’m not saying 70s are normalized revenue, but that was the midpoint of the guide.
Jason Cohenour: Yes, and I’ll add Scott. I mean, you’re not off base with respect to EBITDA levels we need to get to in order to have maximum optionality, maximum options on the convert. And that has got to come through a combination of growth, obviously, and continued vigilance on cost, and not just OpEx, but COGS as well.
Scott Searle: Great, thank you.
Operator: Thank you, Scott. Our next question is from George Notter with Jeffreys. Your line is now open.
George Notter: Hi, thanks a lot guys. I guess a clarification, can you guys give us the backlog metrics and RPO metrics that you referenced earlier in the monologue?
Jikun Kim: Sure. Do you have another question? I’ll dig that up for you in a minute.
George Notter: Yes, and then I also wanted to just kind of go through, you know, what are the options on refinancing the convertible debt? I’m kind of wondering, you know, how you guys are thinking about it. You know, obviously growing EBITDA is part of the formula here, but I’m just wondering what kind of options are available to you? What are you contemplating? Thanks.
Jikun Kim: Sure. So just going back to your first question, our RPO was $194 million and our hardware backlog was $14 million in the quarter — at the end of the quarter, I’m sorry. Anything else on that?
George Notter: And then, no, I’m just curious about your refinancing options. How do you think about it?
Jikun Kim: Yes, yes. Sure, sure. So, I mean, you know, it’s clear that we’ve got to do better from a top line standpoint and generate sustainable, sufficient EBITDA. Higher the EBITDA, more optionality we’ll have. But look at it at the same time, the RPO — the 2% convertible note has a 2% coupon on it, it’s very valuable, right? So as we increase our EBITDA and revenues come back, you’re going to see more cash flow drop to the bottom line. And ideally, some portion of this 2% coupon I’d like to take to maturity and pay it off at maturity, right? And then we’re looking at, once you get the EBITDA high enough, we might have term loans available to us, you know, different types of financial instruments that might be available to us. So the key is operational performance, revenue growth, EBITDA growth, which will provide various levers that we might be able to pull on.
George Notter: Got it. Okay, great. Thank you.
Jikun Kim: Sure.
Operator: Thank you, George. There are no additional questions waiting at this time. So I’ll pass the call back over to Jason Cohenour for any closing remarks.
Jason Cohenour: Thank you very much, and thank you to everybody for joining us on the call today and for your continued interest in CalAmp. We look forward to speaking with you during our third quarter earnings call. Operator, you may now disconnect the call.
