We see the broader carriers, we see carriers who are not as advanced in getting rates efficiency as a couple of the large carriers who come in, certainly bullish about wanting to get back to growth mode. The specificity of their plans for the second half are, as a result, we are not, we’re seeing it’s an unpredictable environment. So in that context based on what we know right now, we’re not expecting that sequential increase from Q2 to Q3. And the same reason we didn’t have the sequential pattern — the sequential seasonal pattern effectively didn’t hold from Q1 to Q2. It’s hard to think it would continue into Q3 and Q4. So we’re not expecting sequential growth right now based on what we know. But as I said, as it progresses, we will see. I think the wildcard will be do other carriers come back in faster?
Do they get confidence in rate adequacy? And it still remains to be seen how fast they’ll move. But we remain bullish about auto recoveries here. And it’s just a question of how fast it progresses through the year. But really, we view it as a multiyear recovery, and it will drive growth in ;25 and beyond as well as this year. And the second half of this year will have strong year-on-year comps relative to the 2023.
Mayank Tandon: Right. No, that’s very clear. Thank you so much for clarifying. And then as a quick follow-up, Jayme, I think you were asking about pricing. And I just wanted to go back to some of the key underlying drivers. So could you just walk through what is driving our 2Q? I know you don’t provide the details, like maybe in the past. But just is it more bundled offering? Is it better integration with the carriers? What are some of the underlying factors that are driving our Q trends for you?
Jayme Mendal: Yes. So I think it’s actually a bit more straightforward than that. The recent upticks in revenue request are largely driven by the — look up the auto recovery. So we have had carriers stepping back into the marketplace really since the beginning of this year. And that means more carriers participating, expanding their state footprints and increasing their budgets and their bids, their willingness to pay. So you’ve got a competitive dynamic beginning to form, which is resulting in pricing going up and more carriers willing to pay for the traffic that we’re generating. And then you have a similar dynamic on the agent side. So we’ve seen a meaningful step up in demand sequentially from Q4 into Q1. So although, we are seeing an increase in volume, in quote, request volume, we’re seeing an even larger increase in revenue per quote request sequentially as we come into this year.
Operator: That concludes our Q &A session. I will now turn the conference back over to the management for closing remarks.
Jayme Mendal: Thank you. I just want to thank everyone once again for joining us on the call today. The team and I are energized by how strong a start to the year we’ve had here. Over the last couple of years, we’ve made a number of difficult decisions to realign the business towards a brighter future. And the benefits of those decisions are now very clear as we produce record levels of net income, adjusted EBITDA, and operating cash flow in Q1. And now with a solid foundation, a battle-hardened team, and more focused than ever before, we’re excited to continue building a great business into this incredible market opportunity of bringing insurance distribution into the digital age. Thanks, all.
Operator: Ladies and gentlemen, that concludes today’s call. Thank you all for joining. You may now disconnect.
