Richard Mills: It’s really a combination of a number of things. Number one, yeah, we wish we had more sales resources and we expect to add more sales resources as 2024 comes on, number one. Number two, it really is, — there’s a whole lot of customers out there across the U.S. and many of them have heard of us, but there’s a number of customers who still have never heard of CRI. And so as our name recognition continues to grow and we get invited. It’s really simply a reason that a lack of invite. If we are invited, we do very, very well.
Brian Kinstlinger: Understood, it’s an invite, not a RFP where you can just be someone who responds.
Richard Mills: Yeah. I mean, we typically don’t like RFPs, right, Brian? Because we don’t can — you don’t have a relationship with the customer, you’re just a number. We prefer where we really have a relationship with the customer, where we understand what they’re looking for, and then they do an RFP, we have no issue participating. But out of the blue, hey, here’s an RFP. We know nothing about the customer. While we will participate, that’s not our most favorite venue.
Brian Kinstlinger: Great. Thanks for all your responses.
Richard Mills: Thank you, Brian.
Operator: And one moment for our next question. Our next question will be coming from Howard Halpern of Taglich Brothers. Your line is open.
Howard Halpern: Congratulations. Great quarter, guys. I guess piggybacking off the last question, are you — I know you say you’re going to increase your sales team as time goes on, but existing customers and referrals, could you talk about how that is playing a role in building that backlog?
Richard Mills: Sure, Howard. Hey, thanks for joining the call, by the way. I mean, our customers, our current customers, we work with them on a project-by-project basis. So, some years they have budgets, some they don’t, right? Depends upon their own internal cycles. So — and that’s really what I can say about current customers. Will, do you have something to add to that?
William Logan: Yeah. Howard, I would just say there’s, we’ve talked about in the past that there’s material expansion opportunity within that existing customer base, right? There’s a number of key customers who are not at 100% site deployment, right? And as we continue to add new customers like Panera, that opportunity grows. We’ve seen over the last six, seven, eight quarters, whatever the number is now, a $10 million-plus kind of baseline out of that existing customer pipeline and we expect that to continue into the future. And it’s now these new customers who begin to deploy that help us to accelerate the growth.
Howard Halpern: Okay. And given your forecast and the deployment schedule, would you anticipate a skew now towards hardware versus the service mix and a little bit of a more than a 50-50 split?
Richard Mills: Yeah. I would tell you the first half of 2024, we are doing a number of significant deployments, right, Howard, so it will be hardware [indiscernible]. But remember, hardware is — hardware seeds the long tail of recurring revenue. We expect our ARR to increase materially throughout 2024, because we’re finally to the point where we’re putting a whole lot of screens up, which seeds the ARR.
William Logan: Yeah, I would tell you, Howard, that from a modeling standpoint, it’s probably safe to look at a 50-50 split for 2024 at this time. First pass on are in (ph), probably that trends more to 45-55, right? But I think it’s safe to go with 50-50 until we get into January and have a little bit more visibility into the full year.
Howard Halpern: Okay. And in terms of now you’re getting all the screens up and running, talk a little bit about, I guess how your team feels about media and ad sales on those screens. How is that trending?
