We have seen offsetting that – the benefit of that, we have seen if you go to my prepared remarks a little bit of an uptick in interest expense largely from the delays that we’ve seen in some of the rate cutting that was built into the expectation that was built into our earlier guide. So those are the things that are happening there. Again, we’re very confident in the profitability guide for the back half of the year, again with strong revenue growth and the ability to drive more efficiency in our operations as we move forward. And of course, the synergies continuing to come online. And I should – I’m glad I mentioned the synergies. I may have misspoke in my prepared remarks and said, our full year – first year expectation was 65 million, let me clarify that.
It’s 75 million, which is what we said when we announced the transaction and closed it.
Ruplu Bhattacharya: Okay. Thanks for that. And maybe Chris, can I ask you to talk a little bit about the operating environment, specifically in terms of new logo wins, deal sizes and sales cycle and also the new economy client growth? Has the operating environment changed materially in the past 90 days?
Chris Caldwell: So let me answer the question in reverse. From the new economy clients, we’re seeing them really growing in line with the enterprise clients. We’re not seeing any material difference in what we saw sort of a year or two years ago. So fintechs are growing kind of in line with what we’re seeing in healthcare growing in line with what we’re seeing et cetera, et cetera, et cetera. They are still very focused on profitability and optimizing their footprint versus growing for the sake of growth which has been a consistent theme for probably the last year. We are seeing with our new combination a lot more larger transformational deals coming into our pipeline which we’re very, very happy about. And these tend to be much more global, a lot more tech integration, a lot more services combination, some definitely with AI whether it’s generative AI or machine learning depending on what they’re trying to accomplish.
Those will take longer. What we’re happy about is that we are now engaged with them. We’re having good meetings with them and those are working through the pipeline. They always take longer. Our general deals that we’re winning from a new logo perspective no real change in time line. My comment about them though is that they still are coming in and we’re generally doing some transformation with them as they come in. And so they tend to come in at a revenue level and don’t necessarily grow as much primarily based on the macroeconomic conditions that are out there. We see them increasing when they start to grow at a much more rapid pace than they’re growing now internally. What we’re happy about is the quality of logos. We’re very happy about how they’re consuming tech and services and the combination.
We’re very happy about where they’re starting deliver from. And we’re very happy that we’re starting to see that synergistic combination of what we called out in the some of the wins between bringing the two organizations together a little sooner than we expected.
Ruplu Bhattacharya: Okay. Maybe I’ll try and sneak just one more quick one. In terms of capital return, you’ve announced the $100 million in buybacks. How should we think about the pace of that Andre over the next three quarters? And Chris I mean now that you’re integrating Webhelp, can you talk about your propensity for further M&A? I mean is this something you’re considering now? Or do you want to fully integrate Webhelp first? So just your thoughts on further inorganic growth. Thank you so much.
Chris Caldwell: Yes. So just — I’ll answer the first question and — sorry I’ll answer the last question and Andre will answer the capital return question. From an M&A perspective, we’re very, very far along in the integration of the two businesses like very, very far along from the integration of the two businesses. We definitely want to finish that. We definitely want to make sure that we get our synergies. Clearly, we’d also like to overachieve our synergies. So that is a big focus of ours. From an M&A perspective what we really look at is something that if it made sense economically tuck-in add some capabilities, add a discipline, add some technology that we think that we could get a fairly high return on very quickly. That might be of interest. But really the focus is on completing the integration and driving the value out of that for the shareholders first.
Andre Valentine: And then from a share buyback perspective Ruplu again we certainly feel our shares are significantly undervalued at this point in time. But I think you’ll see the pace and cadence there be relatively spread over the balance of the year. Now that’s quite an increase from the pace in Q1 particularly if you think about it on a shares basis based on where we’re currently trading. While it’s about a 50% increase in dollar amount of share repurchases the number of shares if we continue to buy at this kind of share price would be twice the number of shares per quarter that we retired in the first quarter.
Ruplu Bhattacharya: Thanks for the details. Appreciate it.
Andre Valentine: Sure.
Operator: Thank you. One moment for questions. Our next question comes from Divya Goyal with Scotiabank. You may proceed,
