Ravi Venkatesan: Yes, what we’ve done is over time, we’ve broadened the suite of products that are offered as part of those Cantaloupe ONE bundles. The information is actually available on our website along with the pricing. It’s very transparent pricing. But what’s happened is over time we are seeing more and more demand from particularly the small business segment of our customer base. As Scott mentioned, the cost of capital going up is driving them to look at Cantaloupe ONE instead of more traditional lease or purchase options to expand their business. So we’re seeing it go from just being payment acceptance devices to bundling software to now micro markets as well.
Unidentified Analyst: Could you guys provide some color kind of around growth in micro markets and how much of that’s coming from new logos versus upsell?
Ravi Venkatesan: So we have and I’m very pleased to share that we’ve actually doubled the sales velocity after we had done the acquisition of Three Square Market. Now, we took a little bit of time to get the installation velocity also going and that has now started matching the sales velocity, I would say, just in the last couple of months. Till then, it was significantly lagging behind. And then in terms of a mix of new logos versus current logos. I would say there’s been a lot more new logos for that product, but not necessarily new logos for us as a company. So we’ve done a lot of cross sell and upsell, if that makes sense.
Operator: Our next question comes from George Sutton with Craig-Hallum.
Unidentified Analyst: This is Adam on for George. Ravi, you mentioned in your remarks that you’re experiencing some good progress with equipment manufacturers. I was wondering if you could talk a little more on that.
Ravi Venkatesan: Yes. It’s particularly in the international markets, in Latin America and in Europe. We found that when we work with equipment manufacturers and sort of embed our solutions, there is a much faster and more efficient distribution model. And we are finding more traction in going to market that way, in addition to kind of our traditional channels.
Unidentified Analyst: And you did mention Latin America there. I know we had a few notable wins in Europe, but would be curious to know about the progress in LatAm as well?
Ravi Venkatesan: Latin America continues to be positive and we have gone through a few implementations. There are competitive reasons why we sometimes mention or don’t mention a particular name or not. So, the trajectory is actually very good, but the nature of the implementations is such that we are not sharing the names of specific customers yet for Latin America.
Operator: The next question comes from Gary Prestopino with Barrington Research.
Gary Prestopino: Scott, do you have, you gave the total transactions for this quarter, but do you have the absolute increase, the percentage increase year-over-year on transactions, so handy?
Scott Stewart: Overall, the number of transactions, not the dollar value of transactions?
Gary Prestopino: Yes, I’m just looking for the total, the number of transactions. You had 283 million, right?
Scott Stewart: Yes. So we’re up 3% year-over-year. We’re up 2% sequentially.
Gary Prestopino: Okay. And then in terms of what you did in the UK, I would assume that I know you’ve already sold some product on the continent, but are there plans to do one of these showcases on continental Europe and the major countries like France and Germany this year?
Scott Stewart: Not this year, our next major event of a similar nature is in Latin America and that is on the 5th December. So we’ve got a kind of a well sequenced game plan of these types of events and the next focus is really on the Latin America event.
