Matthew O’Brien: This is Samantha on for Matt. Thanks for taking the question. The first one for you, Taylor. Now that you’ve been there for a few months, I was just wondering are seeing — could you characterize, I guess, how you are versus your expectations? Are they significantly worse than when you walk through the door?
Taylor Harris: Well, I would say that there is a mix of good and bad relative to — or favorable-unfavorable relative to expectations, but it skews favorable. And let me just start with that. I think I would go back to the same comments I made earlier, that what really will matter here in the medium and longer term is do we have the right technology and then the right team. And on the technology front, that’s always been clear with Cutera. We’ve got great products. And what I’m even more encouraged about and when I started is the quality and the commitment level of the team, and that who’s going to go make this happen. So that is absolutely the overriding since that I have. However, it is — there are more headwinds facing the business than we realized 3 months ago and certainly than we realized 9 months ago.
And those are both in, I’d say, largely in the macroeconomic category, but we have continued to under some fragility in the foundation, processes that were — that have not been working, miscommunication, and those did get to a breaking point. For example, we identified this inventory management issue that we’re going to have to address, but we’re taking these in stride. I think we’ve got the right team to take care of them. So we’re going to get through those and then move on with returning the business to growth.
Matthew O’Brien: Great. Thank you for that. I just one more on that inventory issue. Could you just provide a little bit more detail and maybe timing on when you expect that to kind of be solved?
Stuart Drummond: Hi, it’s Stuart speaking. Thanks for the question. Yes, so we did account September 30. There are 3 locations covering about 89% of our total inventory. And so the amount we counted was around $8 million to $9 million lower than what would have been recorded in our ERP system. So now we’re going through the process of assigning the $8 million to $9 million to prior quarters. So sector there’s a material misstatement in previously filed quarterly numbers in 2023. We think about half of that difference we’ve identified. It relates to a process happening in our ERP system, whereby returns, we’re ending up in double docking value. And then the residual balances, there’s really a laundry list of individual items that we’re still assessing.
So we think, to your second question around timing, we indicated it could take up to 3 weeks. That’s an estimate. As I say, we need to continue this assessment, and then we need to get our auditors through our assessment as well.
Operator: The next question is from Anthony Vendetti with Maxim Group. [Technical Difficulty]. This concludes the question-and-answer session. I’d like to turn the meeting back over to Taylor Harris for any closing remarks.
Taylor Harris: Great. Thank you. In closing, I would like to thank 2 members of our Board who have recently announced their resignations, Janet Widmann and Juliane Park. Thanks so much to Janet and Juliane for their years of service, Cutera. I think we — you’re leaving us in a good spot. And then to the rest of the team, thanks for all the hard work and dedication. Thanks to everyone for joining us today, and have a good evening.
Operator: This concludes today’s conference call. You may disconnect your lines. Thank you for participating, and have a pleasant day.