Meredith Burns: Great. So you all but answered this next question with that one. But I just want to be very clear for everybody. Does the previously provided guidance for Vista revenue growth to accelerate in FY 2023 versus FY 2022’s FX neutral rate of 5% still stand?
Sean Quinn: It does. Yes.
Meredith Burns: Great. Great. Okay. Now, we’ve had many, many, many pre-submitted questions about the guidance that we gave yesterday from an EBITDA perspective. Everybody wants details. How do we get there? What is that going to look like in FY 2023? What is that going to look like in FY 2024? Where are the costs going to come out? Are they going to come out of advertising? Are they going to come out of operational expenses? Where are these things coming from and what is the map to get there? Robert, do you want to take this one?
Robert Keane: Sure, I’ll jump in. And Sean, feel free to jump in obviously if you have that we have in March Investor Day, which we have said, we want to give you a lot more details, and that’s €“ asking, we can talk to. Although certainly we have begun our scenario developments and planning before. We have not completed that work. And so it’d be premature to give you a lot of detailed answers. We certainly believe there’s an opportunity here, and we’re going to work through those different scenarios. It should depend on how much revenue growth we’re seeing. We do expect, as Sean just said, to have revenue growth €“ to that EBITDA bogey of $400 million in Fiscal 2024 will require substantial cost reductions in addition to that revenue growth.
So I think the framework to thinking about this is internally we’re saying we are not simply cutting costs of getting the goal of getting to $400 million alone. We believe that we can €“ do more with less. We can drive efficiency, performance, simplification and that tightening down if it’s done right, can really lead to some significant acceleration beyond that. No one likes to know in any business. Certainly, we don’t like to do this at Cimpress, and actually a Vista. We have done this in the past for those long-term shareholders who benefit €“ when these are done the best. We had very much achieved the dual objectives of saving costs €“ in the velocity of the business. So again, we certainly look forward to giving you more details in our midyear strategy update on March 21st.
Meredith Burns: Thank you, Robert. Sean, do you want to add?
Sean Quinn: Yes, maybe just to add two things. I think the meta point here is there’s a lot more that we’ll share in March. But yes, I think some of the thread of questions and if I were an investor too, why now? And Robert alluded to this to some extent; but I think our view is like our profitability has been impacted by external factors over the last year, two years. And we just feel, because of our commitment to expanding EBITDA in the ways that we talked about and also delevering that we need to do this through things that we can control, really drive us through things that we control, and yes, we also expect revenue growth as well to contribute to that, but we really need to drive this through things we control. And as Robert said, we think that there’s opportunities to do that and do that in ways that are supportive of, of course, not just getting the $400 million, but growth beyond that.
