Jeff Van Rhee: Yes. Thanks for taking the questions. Congrats on getting the feel of the restate and all the heavy lifting for sure. A couple of questions from me, Bob. Maybe just – it would be worth taking a second given this is kind of the reemergence of Edgio coming out from all the noise, if you look back to like mid-’22 when you’re bringing Edgecast on, I think the original expectations were around $270 million for that business. And since then, there’s been a lot of noise, I think, obviously, the ISP relationships see how to take some of that revenue out. You had a lot of churn there. It’s, I guess, unclear maybe what happened in the base business. Just what — spend a minute and talk about what happened in each of those three components from there to here to give us a sense of where – now that you’ve got a little more clarity on the numbers, where are the bulk of the disappointments or revenue miss came?
Robert Lyons: Sure. Yes. And Stephen, feel free to jump in, but I’ll frame it this way, Jeff. And thanks for that comment early on. So the way to think about it is when we looked at the revenue of the business, there were a couple of factors. Number one, we had some pricing compression with large customers who – I wouldn’t even call pricing compression, I call it reset, they were much higher than market. And so when we come in and put them on our paper and renegotiate that opened up the door to reduce prices. So, we had one very large social media customer who wanted to have a better price. It was unreasonable ask, but – so we had to take that hair cut to do that. But we were able to renew them for multiple years, and we’re actually back to growth with that customer today, but it was kind of a one-time reset.
So, we had that on a couple of customers that were larger customers. All of those turned out – and to be growing customers on the other side. So it was a one-time reset. We had some revenue that we thought was less quality revenue than what we wanted. And so, we took that out of the equation as well, as you normally do when you do an acquisition. And then, of course, we had the churn. So that’s really probably the three drivers. When you look at all three of those, the resets are done. We’re past those. We’ve gotten through those renewals, and they’re now growth customers with multiyear relationships. The revenue that we wanted to get out, because it wasn’t good quality revenue has been taken out. And then, of course, the churn was something that we set up in last year, and we said, look, we’re going to do two things.
It’s going to take us a couple of quarters. We’re going to build a client success team, and we’re going to make sure that we shore up the product, and bring those two things together – to land churn into what would be normal rates an assess industry. And that’s exactly what we’ve done. It’s taken us about two and a half, three quarters, but we’re at run rates now that you would expect to have in a well-run SaaS company. So that’s the way I’d frame it overall. From this point forward, we don’t have those headwinds. We don’t see any resets churn. We’ve gotten our arms around it. And I think it’s fair to say that we’re turning the corner on the top line, and the revenue stability.
Jeff Van Rhee: Yes. You referenced…
