Stephanie Davis : Super helpful, thanks. And one for Karsten on this one. Just looking at margins year-over-year, I was surprised to see them compressing a little bit in the guidance. So with that in mind, how could you €“ how can we think about some of the moving pieces and like the recent pricing changes and Kruger and even from the competitive dynamics. And should we think about the arc of margins throughout the year?
Karsten Voermann : Sure, thanks for the question Stephanie, Karsten here. I think number one is as we think about margins over time, the key focus is managing cost structure against growth on their revenue side. I think we’re preserving, for the first quarter in particular the flexibility to make investments. We’ve talked previously about 4Q and 1Q being good times to invest given their new plan years, new deductible periods for patients, etc. and throughout the year too. Now that we have created a more refined view of marketing, reduced sales and marketing as a percent of revenue and so on, our ability to invest in a way that drives growth even more clearly than before is higher, and so as we contemplate through growth and margin tradeoffs, we see the need to maintain some flexibility, to continue to be able to drive that growth with incremental investments as we go further into future quarters.
I think that said, the area where we will be able to showcase more margin expansion is when we actually show more growth. Again, relative to the cost structure not moving as on the same slope as the revenue does, meaning revenue growing faster. So when we lap the engagement efforts that we started in the middle of Q3 and the grocer issue, which will be both fully lapped in the fourth quarter of this year, that’s when we’ll be able to showcase growth numbers that everyone on the street will be able to see for themselves. I think with that trajectory in mind, it’ll show a clear path to focus here around how in the years to come we can see margin expanding further as well, as we keep concentrating on the appropriate expense side controls and on managing those expenses very carefully going forward, that’s probably the best way to articulate it.
For the year I think we see margins both for 1Q and full year in the mid 20% range, as we’re continuing to make those investments to drive that growth as well.
Stephanie Davis : Helpful, thank you.
A – Trevor Bezdek: Thanks Stephanie.
Operator: Thank you. One moment for our next question. And that will come from the line of Jailendra Singh with Truist. Your line is now open.
Jailendra Singh : Thank you, and thanks for taking my questions. So I want to stay in the topic of pharma manufacturing solutions business and go back to the ramp you expect beyond Q1 this year. It seems like this is a business where you think that growth will ramp and it is a primary driver for the revenue ramp you expect this year. What trends have you seen there, which gives you the confidence and visibility in that business for the rest of the year? And it would be great if you could share any color around what are you seeing with respect to digital marketing spending among your pharma clients and kind of related to this, like there was a comment in the release around prioritizing recurring service arrangement with customers. Maybe firstly build there like what exactly you mean in terms of the actual arrangements?
