Michael Rackers: Hey, guys. Congrats on the quarter. This is Michael Rackers on for Scott today. Just a couple of quick ones from me. But I guess, looking at this acquisition, do you see kind of other areas of consolidation, like with similar acquisitions or I guess, are there other competitors in different verticals of a similar size that you could acquire moving forward? And then how does that play into kind of the vertical expansion strategy with SimplePractice?
Robert Bennett: Yes. Hey Michael, it’s Bob. Yes, we do anticipate that there’s more to come here on strategic acquisitions in the future and a variety of different flavors that could come there, but we definitely are excited about our momentum in the marketplace and finding other areas for us to participate and add value to, an expanding base of wellness clinicians over time.
Michael Rackers: Great. And then on the pricing increase, could you just kind of walk us through the impact on SMB transaction ARPU growth there? I mean, was most of the growth kind of driven by that? Or are there any other kind of trends in play?
Cassandra Hudson: Sure. So it’s really both, right? So we continue to process more and more transactions on our platform. That’s going to continue to drive growth for us as well as the pricing change that we made. So it was the 20 basis point price increase that occurred in late Q1, and as a result of that change, we’ve been expecting just related to the price increase about an 8% to 12% lift in ARPU on a year-over-year basis. So I think we’ve been seeing that play out and certainly is a contributor, but it’s not the entirety of the growth that we’re seeing out of transaction and usage-based revenue within SMB.
Michael Rackers: Awesome. Thanks.
Operator: Thank you. Our next question comes from John Davis with Raymond James. Your line is open.
John Davis: Good morning, Bob and Cassandra. Cassandra, just wanted to touch a little bit on the one-time go-to-market expenses in 3Q for Enterprise. Is this kind of a function of reinvesting the upside from 2Q? Just trying to understand how either offensive or defensive these expenses in third quarter are.
Cassandra Hudson: I mean it’s – I think it certainly is a little bit of that, JD. I mean, we’ve been operating ahead of plan for us and driving more profitability and just thinking about the things that we need to do in our business long-term. We we’re kind of going after some of these opportunities here that we think will continue to set us up for success in ’24 and beyond. So, I think these are opportunistic investments that we’re ready to make and execute on. And I think will help drive longer-term margin expansion for us as well.
John Davis: Okay, great. And then on Luminello, it definitely seems like it’s more of a tech capability buy. And I appreciate it’s not in the guide, but any color on either what the current size or growth rate of that business looks like today?
Cassandra Hudson: Sure. Thanks for the question. So with Tahoe, right now, obviously, we’re operating under a structure where we have a license agreement in place with the TSA, and we’re collectively very focused on creating that enhanced solution so that we can migrate to one single platform. So that’s the goal. For us, it will start to contribute to revenue and EBITDA once we get on the other side of the migration. And if you think about business, obviously, just given the size of the purchase price, it’s not a huge business, but we are picking up a couple of thousand customers. And the ultimate goal will be to migrating to this single solution. And during that time period, those customers will be onboarded to our platform, and we’ll start to see ARPU from them bleed in.
