Jeff Van Rhee: Okay. That’s helpful.
Robin Raina: Yeah, sorry. Ash, probably I would add the RCS certificate business as a core business in term of
Ash Sawhney: Yes, exactly. And the RCS business, it stayed steady. We do business with like I said, over 70 of the largest Fortune 500 companies. So we have continued to keep a pretty significant place for ourselves in the industry. We are a very well-recognized brand. Same with Oakstone. We are probably one of the larger players in the CME business. Market share is probably up or down a little bit, but the key point is, it’s a very solid business for us and we expect to continue to grow some of these business units.
Jeff Van Rhee: And Robin and or Ash, you might want to add a little color around the EHAE joint venture and how that’s been a bit of a drag on revenues for the last couple of years?
Robin Raina: Yeah. I think, basically, when you look at the overall revenues, so meaning sometimes we — EHAE revenue has — it’s mainly, it’s fallen, and I’ve talked about in the previous call. It’s our TPA business and in a TPA business, so when you look at the cumulative revenue. You know, the fall in that EHAE revenue gets reflected and it offset some of the increases that we show in some of the other businesses that Ash kept talking about. And the TPA business, one of our main reasons was our joint venture partner basically decided to get out of health business completely and they were one of the largest clients for us and that just went away from one day to another in a way and that has obviously caused a bit of pain in terms of revenues.
It has also — it is one business where, you know, there are now many businesses where Ebix would be saying that we lose any money and this is a business where we actually have a bit of a negative profitability, a bit of losses out there, which we are trying to — as we figure that one out, we are basically actively working on trying to figure that one out. We’re trying to figure out, can we get our JV partner completely out of things, candidly and if we can do that, it actually — there are ways and means to make that business a lot much — a lot better. We’ve bit hindered by the fact that we have a JV partner who is actually out of business and is not able to contribute and in turn, we have some obligation attached to that client, which actually cost us a bit of money.
So, there is a bit of room there for us to gain in terms of profitability, is how I see it, but it’s a fairly small business right now. Fairly minuscule for us right now.
Jeff Van Rhee: Okay. Last from me, a couple model specific questions. The — as I look at the GAAP net income, it’s about a $6 million miss versus my estimate and about $5 million of that becomes — comes below the operating line. So I think, I can model out the interest expense going forward that leaves, then the other big variance this quarter, the two were interest expense and primarily taxes. So two specific questions, how should we think about taxes in ’23 and then specifically in Q1, but the year as well? And then also G&A, you touched on it. I mean, obviously, it’s running fab here up considerably over really any trailing periods, you called out renting a few things that seem like they will persist. But I’m wondering, if this $36 million non-GAAP run rate or actual printed $36 million of G&A in Q4. If that’s the right level to assume going forward? So really two questions there, taxes and G&A.
