Kevin Garrigan: Yes. Hi guys. Thanks for taking my questions. So at a high level, can you kind of give us a sense of where most customers are in terms of your engagement model and kind of more specifically in the professional services side, are our majority of customers maybe in the proof of concept stage or kind of still in the application evaluation stage?
Alan Baratz: Yes, so we’ve always said that the professional services business is the on-ramp to production applications and the quantum compute-as-a-service business. And over the course of the first half of this year, actually starting Q4 of last year, we really started to see customers focus on actually driving to get those proofs of concept engagements in place and built out as opposed to just evaluating applications. And so the bulk of the work going on right now in the professional services organization is actually building out the proofs-of-concept. Now, the next step after building out the proofs-of-concept then is trial deployments, which really involves getting the technology working in their environment on the real data as opposed to sample data and then finally moving the application into full production.
So, most of the customers are still in the proof-of-concept stage. We do have several that are now in the trial stage, and we have two that are very, very close to production deployment where I expect that both of them will be in production before the end of this year.
Kevin Garrigan: Okay, great. No, I appreciate the color Alan. And then just kind of looking at the full year outlook, how much of that is, is in backlog already?
Alan Baratz: John, you want to take that?
John Markovich: So, we actually don’t break out our backlog, Kevin, but I think that our bookings performance over the last four quarters is indicative of what we can look for the second half with respect to the revenue.
Kevin Garrigan: Okay. Got it. Got it. And then just one last quick one. Alan, you had mentioned you’re coming up on, on kind of the one year anniversary of being public. How things kind of played out in the quantum computing market versus how you imagine them one year ago? What has changed, if anything? And what are some of the things that you’ve learned over the last year?
Alan Baratz: So, first of all, I am really encouraged and excited by the progress that we are making commercially with respect to the fact that if I look back a year ago, our customers were mostly buying small amounts of time on our quantum system to kind of play around with it. We affectionately called them the DIY or do-it-yourself customers. But they were not really focused on trying to solve a real business problem. They were just doing experimentation and trying to kind of understand the capabilities of the system. And over the course of the last year, we have really progressed that to customers that have real business problems that they are interested in leveraging quantum computing to solve and working with us to help build out the solutions to those problems that do leverage our quantum computers through the proofs-of-concept.
And that’s really what’s caused the deal sizes to grow so dramatically. And in the process, the sales cycle has shortened. As I said, a year ago we are looking at over a year and now we’re in the – call it on average six month range. And so we’ve progressed a lot with respect to building out the commercial side of the business over the course of the last year. I’m also really pleased with how we’ve done at getting out the message that quantum computing is real today, and that you can see real business benefits from it today. Remember, everybody else in the quantum space is building gate model systems, and they are still many years away from being able to solve real world problems at commercial scale. And so, they’re out there and some of them have big megaphones, like an IBM or Google or a Honeywell.
