Sean Quinn: Yes. There’s no specific number that we’ve given. We’ll continue to not give a specific number. We’ve said consistently over the last couple quarters that our focus and our priority has been on liquidity that remains the case. That was especially in focus because we viewed and we had previously disclosed that there was a high likelihood that we would be settling that put option that I just went through. And so therefore necessitated a focus on liquidity versus taking advantage of things like the way that our bonds were trading. We don’t have any active plans to repurchase our bonds. Liquidity remains the focus. I think that as we execute on the things that we outlined in our guidance and we execute on our delivering over the quarters ahead and throughout FY 2024 then capital allocation opportunities start to open up. But there are no plans to €“ no active plans to buy our bonds.
Meredith Burns: Great. So a couple people noticed obviously that our first-lien leverage was above the leverage test if we were to have any amounts drawn at the end of a quarter. So there’s been some questions on our revolver. So would we think about extending the maturity of the revolver in the near term, what we think about amending the credit facility in order to get a waiver? Multiple questions on that front, Sean.
Sean Quinn: Yes. No, so the short answer to all that is, no. The revolver matures in 2026. We aren’t actively looking to extend that. Of course, as we get closer to that maturity, we will. But that’s in the sort of 12 months to 18 months timeframe, not in the next kind of three months timeframe. And then as it relates to the first-lien leverage, so just to be sure it’s clear as you referenced in the question, Meredith that only applies, that test only applies to the extent that we have a drawn balance at the end of a quarter. We have not had that. We don’t plan to have that. We are just slightly above that first-lien test, which is at 3.25 times our first-lien leverage. However, if you think about the guidance that we provided last night, as we €“ again, as we start to march up that EBITDA expansion curve, and also delever then we would quickly be below that that first-lien test.
So there’s no active plans to either you seek an amendment there or anything like that nor look to extend the maturity. We don’t need to do that now.
Meredith Burns: Great. Okay. Robert, I’m going to ask you a question. Given increased leverage, will you consider issuing equity? Or monetizing one or more divisions to reduce debt?
Robert Keane: Well, first of all, I want to repeat what we said in our say, our plan is to reduce leverage, net leverage through adjusted EBITDA expansion and returning to our high adjusted EBITDA levels and the cash flow that comes with it, kind of full stop. Now in the past businesses, so divestiture is certainly something we understand. It would consider if the right conditions are there, and if we believe we’re better off for couple of other things. But this is not something we would do without a lot of thought about the long-term capabilities of Cimpress. And certainly in the near-term, the environment right now is not really favorable to divestitures.
Meredith Burns: Great, thank you. So, I’m going to hit one question. This is more of a strategic question before I move to the outlook section. But thought worth asking, how has the development of the mass customization platform changed your acquisition strategy? For example, it seems your recent tuck-in acquisitions are able to quickly implement several MCP products, if it’s easier and the technology gains are relatively larger for smaller firms, in the future could you see Cimpress pursue several tuck-in acquisitions annually compared to one large acquisition every few years, as was the case from 2016 to 2018?
