Jon Slabaugh: So our cash interest expense to be clear a little bit over $5 million and then our capital expenditures are between $1 million and $2 million per quarter generally. And that’s the reference to $7 million. You could annualize that and kind of back into the number we would need to get to be truly free cash flow positive on a standalone basis.
Operator: Your next question comes from the line of Mike Albanese with E.F. Hutton.
Mike Albanese: Yes, good morning, guys. Thanks for taking my question. And nice quarter given some of the macro headwinds and lengthening of the sales cycle, I just want to get an update on the AI front and how you guys are utilizing technology. And really, if you’re seeing any green shoots improving efficiencies across the organization. And I guess specifically, where are you pulling out annual synergies? Thanks.
Tim Hwang: Yes, no, thanks for the question. So I think that a couple of different things. So the first thing that we pointed out to you today on the call was the progression of some of the products that we have in the market, namely Risk Connector and some of the traction we’re seeing there. That was a complete, wholly built in-house product that we kind of went out to market with to go after this sort of supply chain market and the like. In the second half of my earnings call I basically talked about some of the new initiatives that we’re launching here in the market. And I guess what I would say is that the generative AI market in general has started to coalesce around the type of product and type of go-to-market that is somewhat different from what we’ve kind of gone to market with traditionally, if you look at very recent product lines from Microsoft, or from kind of growth oriented startups and like, a lot of the product lines that we’re seeing are coalescing around called per user pricing of $50 to $200, a month per user, and then pricing very, very targeted generative AI capabilities for those customer sets.
And so essentially, what I talked about is that over the course next couple of weeks, our intention is to implement similar kind of Co-Pilot strategy for the legal and regulatory space, to essentially take the data that we have embedded within kind of generative AI capabilities, and then help lawyers, legal professionals, regulatory professionals, draft documents, create legislation, create laws where the case is, and then effectively charged in a similar price point several $100 a month per user, such that people could essentially go out there and swipe a credit card and, and go-to-market very quickly. And so, what that effectively means that we’ve been in development with a series of these Co-Pilot products for some time now, and we expect that actually in a different go-to-market channel, different from a heavy enterprise sales model, that we’re going to try and go with a more product led growth kind of user driven model here to drive faster revenue generation and kind of really lead into generative AI market a lot more aggressively.
So we are seeing pretty good traction overall. And I think that’s something that we’re going to continue to monitor as we try to accelerate the growth of business.
Operator: There are no further questions at this time. I will turn the call back to CEO, Tim Hwang for closing remarks.
Tim Hwang: Yes, appreciate everybody taking the call here and definitely looking forward to another great quarter. Thank you everybody.
Operator: This concludes today’s conference call. We thank you for joining. You may now disconnect your lines.
