Dana Gerner: I think at — also Q4, if you look at the numbers, is providing a very nice EBITDA performance following a very, very strong Q3. As we — as I mentioned, we do see stepping into 2024, and we are still working on our plans there. So I’m putting a very large disclaimer here, a continuous improvement in our overall EBITDA margins into our long-term targets that we have provided when we went public of 20% growth in revenue and 20% EBITDA margins. I will emphasize what I also said during the call that we do need to take into consideration the seasonality of the revenue that impacts also the seasonality of the EBITDA between half 1 and half 2. And we do — through efficient OpEx spending will provide modest improvement in our EBITDA margins.
Operator: Our next question will come from Jamie Shelton with Deutsche Bank.
Jamie Shelton: Brilliant execution and it’s glad to hear you’re all doing okay. Just a quick question from me to start with. Can you provide us what percent of the usage base is now connected to Premium enterprise? And then I’ve got a couple of follow-ups.
Yossi Carmil: So I would say that the — related to the Premium penetration, first of all, I would say that the Premium is — all the Premium suites of solutions is picking up very largely. There is a permanent consistent progress here. And currently, at this stage that I would say from — in Q2, we’ve been in mid-teens. Now we go end of Q3 to the high-teens. And basically, there is a permanent increase. And let’s not forget that when it comes to the Premium, we are bringing in here capabilities and in a mix of offering that competition basically cannot match with. Goes a little bit to what we are emphasizing all the time regarding the end-to-end offering within the DSU, which is a very critical part of our value proposition.
Premium strengths end-to-end within the digital forensic units. What we do with Guardian strengths back our ability to influence on collection activities connected to our review capabilities. So we anticipate that we are one in a good faith. Second, far away from fulfilling a great potential, which is still ahead of us. Hope I’ve answered your question.
Jamie Shelton: Yes, very clear. And just a similar question. What percent of your business from analyze and investigate portfolio? And where do you think this could go over the next few years? And I’ve got one final question.
Dana Gerner: So our business, which is not the collect and review business is around 10% of — and structure business is around 10%. Most of it is actually the investigative analytics. We see great potential with this offering. So…
Yossi Carmil: Yes. I would like to say, first of all, nothing to add regarding what Dana said regarding these components. But Pathfinder is a key element of the investigative activity for the investigative unit and Guardian is a key element of case and evidence management, are pretty much strategic solutions and clear, I would say, element in the growth and in improving efficiency of both digital forensic unit and investigative units. We’ve got, at this stage, a very good positioning regarding both of them. And as I stated, I think, yes, I did in my previous speech, the pipeline was growing nicely in terms of Guardian. In Pathfinder, we are penetrating very well. And I would say that we should expect a very meaningful growth from this solution along the road, both in digital forensic units and investigative units in the years to come.
I would like also to emphasize that the investigative unit part of the company side-by-side with the digital forensic unit is a very meaningful growth engine as part of our long-term strategy.
Jamie Shelton: And then last one for me. I mean, price has been touched on a couple of times, but — and it’s highlighted as the growth drivers in the deck, obviously. But outside of natural ASP uplifts from Premium products, how much leverage do you have to just in kind of core price increases? And what is the methodology you adopt internally?
Dana Gerner: I think, as we said, we see the biggest driver of growth in the coming 2 years in the — is the launch of the UFED Ultra. It’s really not about price increase, it’s about new packaging of capabilities with the right value attached to this new offering. We believe that each and every customer of us, each and every installed base holder is entitled to these benefits that we are bringing into the product, and this will, with the Premium and the new offering of Guardian and investigative analytics together will drive the growth in the coming 2 years.
Yossi Carmil: I would like really to reiterate and maybe join here and emphasize, because, again, we are talking here permanently about price increase. Price increase related to what we deliver in terms of Pathfinder and in terms of Guardian and the model which is related on more usage, more data, that’s basically — that’s going to happen. The UFED Ultra, which is about to be launched, is not a matter of price increase. It’s a new price tag for a revolutionizing solution that basically will change in many aspects the way collect and review is done today in the digital forensic units. By the way, I’m saying that with a lot of confidence, because as you know, not only that there is a healthy market that we are talking about all the time and available budget, we are — we get that from customers.
We did that journey of bringing that solution by knowing very well our customers. We are perceived as a strong adviser. We’ve got strong relationship. And I’m convinced that there will be a well-perceived — a well-accepting environment for that value added with a new price tag.
