Yaniv Arieli: Yes. Usually, the seasonality in IoT devices, mobile has been the case for many, many years. The Q1 is lower in volume and new phone introductions than the fourth quarter and the Christmas holiday season. What we saw this quarter with 25% unit growth year-over-year and sequentially, some of our customers, which maybe is Chinese customers, but they are shipping on a worldwide basis. And Amir mentioned earlier on headsets, earbuds, we are probably 45% to 50% worldwide market share our technology is embedded in excluding Apple. So, in some of these devices and the overall IoT devices that we ship, we saw flattish units, we didn’t see a decline, and that’s probably from inventory buildup and filling the channels with a pretty strong start for the year. Does that answer your question?
David O’Connor: Yeah. That’s very helpful. And then maybe just one on the kind of higher value deals that you’re signing and licensing and higher royalty rate. Can you give us any kind of framework how to think about those kind of higher royalty rates versus your kind of classic rates? And also, the licensing deal, can you help us well kind of give us just a sense of kind of what — how big they are versus your classic kind of licensing deals? I know every deal is different, but just kind of how to think about that from a kind of numbers perspective? That would be helpful. Thanks, guys.
Yaniv Arieli: Yes, not sure we could help that much. I mean, when we talk about multimillion-dollar deals, these are bigger deals and larger deals in volume than we had in the past. So, it could be a few million dollars for a specific deal depends on the technology and the market segment. Maybe historically in the past, those were a few hundred thousand for single use up to 1 million. And today, it depends on that technology and how many technologies we integrate into an agreement, it could be much higher numbers than that. Maybe that’s a little bit of the flavor. And the same goes with ASP. The percentages, if it’s multiple technologies, are higher than just a standalone Bluetooth deal that we licensed five years ago. I think that’s what we’re referring to, the more content we add to these agreements, multiple technologies, newer technologies that come into play, and that’s true across the newer Wi-Fi, Bluetooth, UWB, as well as the AI, and then the software packages that we have to — an offering that we have today, we are able to charge higher percentages of the chip price at the end of the day or higher chips — higher cents per chip.
Amir Panush: Maybe David just to complement on Yaniv comments regarding the royalty and China, generally speaking, for this quarter, we are really encouraged actually with our customers worldwide and as well as in China in terms of their volume shipments. And part of that is the tailwinds that we discussed last year, where we see basically Wi-Fi penetrating more and more, we see the combination of the different technologies, the higher ASP with those different product mix that goes to market, as well as more and more new customers that are ramping either Bluetooth or Wi-Fi and in the future our UWB technology, as well as the [indiscernible] IoT or 5G for RedCap. So all in all, for this quarter, which typically is in consumer market seasonally lower than Q4, we have seen really great year-over-year growth, as well as on a quarter-over-quarter basis, a very strong demand for our customer base.
David O’Connor: Awesome. Thanks guys.
Yaniv Arieli: Thank you.
Operator: This concludes our question-and-answer session. I would like to turn the conference back over to Richard Kingston for any closing remarks.
Richard Kingston: Great. Thank you all for joining us today and for your continued interest in CEVA. As a reminder, the prepared remarks for this conference call are filed as an exhibit to the current Form 8-K and accessible through the Investors section of our website. With regards to upcoming events, we will be participating in the following conferences: Oppenheimer 25th Annual Israeli Conference, May 26 in Tel Aviv; Cowen 52nd Annual TMT Conference, May 29th in New York; the Mizuho Technology Conference, June 12th in New York; and Rosenblatt’s 4th Annual Virtual Tech Summit 2024, June 13th, that will be held virtually. Further information on these events and all events we will be participating in can be found on the Investors section of our website. Thank you, and goodbye.
Operator: Conference has now concluded. Thank you for attending today’s presentation. You may now disconnect.
