I just don’t know if Q2 is too soon to expect that. But either way, I think that we’ll be continuing to focus on efficiency, continuing to focus on trying to get profitable sooner. That’s the goal of the Company. And right now, I think we’re comfortable to committing to $100 million plus in EBITDA in Q4. But we’re trying to get that number up, and we’re trying to get every quarter to do better than what we’re thinking right now. And there’s a number of efficiency-oriented initiatives around the Company that I think could potentially contribute some upside.
Operator: Our next question comes from Jed Kelly with Oppenheimer. Your line is open.
Jed Kelly: Great. Maybe following up on Carlo’s question. Can you just talk about your churn rate this football season, I guess, with the higher holds, and you did have a better football outcome, too, versus last year? And what’s kind of driving the underlying churn rate? And then just question just on 1Q. Can you talk about sort of some of the dynamics around the first quarter? I think last year, March Madness was a negative or lower than you thought. So can you talk about sort of some of the comps we should be thinking about for 1Q?
Jason Robins: Yes, I think — so on the first question, we’ve seen really strong retention rates. Obviously, we’ve been keeping an eye on this as hold has increased. We have other market comps that we see at even higher hold levels than us that has, I think, had decent retention. So we feel confident there’s still room to increase hold without affecting churn. And thus far, we’ve seen only positive trends on the retention rate side. As far as March Madness, I think it’s been a weird last few years. You had the cancellation of March Madness in 2020. And I think college basketball is really coming back in a big way now in terms of popularity. We’re seeing more adoption in the regular season than we had in the previous couple of seasons.
So, we think it’s going to be a great March Madness, and I’m really looking forward to it. It will be — hopefully, if Massachusetts gets live, it will be the first time that residents in Massachusetts will be able to bet and stay. So, I think that will be a big opportunity, and then obviously, continuing to learn more and get better on figuring out ways to drive better bet mix. That said, college sports, I will say, is one of the tougher ones on the bet mix side because a number of states don’t allow player props and also people are generally just less familiar with the players, so they’re more likely to combine parlays on multiple teams. So, we’ll be focusing there, obviously, still trying to drive the same game parlay product, too, but I think college sports, multi-game parlay is a little bit easier than same-game parlay, given some of the dynamics I described.
Jed Kelly: Great. And then just one quick follow-up. Is there anything to call out from the World Cup in 4Q that won’t be in there this year?
Jason Robins: World Cup was great, I mean, no doubt about it. That said, it was low single digits percentage of our revenue. And I think we don’t believe that there’s anything really that you should adjust accordingly from World Cup. I think that was a nice little boost, but didn’t have a tremendously material impact on our financials last quarter.
Jason Park: And I would just add, Ed — I would just add, on World Cup that was obviously already included in the Q4 guidance that we provided in November. And when we look at the data on a customer-by-customer level, it felt more as much like a handle shift between sports that were very prevalent in Q4 as it was sort of true incrementality.
Operator: Thank you. And our next question comes from Robert Fishman with MoffettNathanson. Your line is open.
