Darren Lampert: I think the only color I can give you right now is we’re reaffirming guidance for the year, which is a $2 million loss to a $3 million profit. And as you saw our first quarter EBITDA, loss was 2.9 million. So we’re looking for a positive back half of the year starting in the second quarter. We also reaffirmed our revenue guidance that was when we did $47.7 million for the first quarter. So if you took that [indiscernible] you times that by three, you’d see that many times by four. We’re considerably behind our guidance numbers. So we are looking for a tremendous pickup in the second quarter. Third quarter and for the remainder of the year.
Remington Smith: Thank you. That’s helpful. And then my second question, call out pricing pressure weighing on gross margins in the quarter. Can you speak to how you seeing pricing in the segment going forward? Do you expect it to continue to weigh on margins, and offset the benefit from increasing private label mix? Or do you see this as transitory, the back pack to higher gross margins? Greg [indiscernible] over to you?
Greg Sanders: Yes, I think when you look at the first quarter margins improved compared to the fourth, which was a positive, but they’re down year-over-year. And I think there was two primary drivers that I’ll try to unpack. The first was storage solutions revenue, which came in less than plan. For the quarter storage solutions was about 10% of revenue. If we look at it, as you know, 14%, which is kind of where we were for the duration of 2023. That brings us up to a mid 27% gross margin profile on the business. Just at the revenue levels that we’re at. So that’s a big lever that we’re expecting continued improvement from in the second and third quarters. And the other piece is we closed six locations in the fourth quarter. And four more in the first.
And with that you get a certain amount of inventory that you have to move around the country, move from the closures to stores that are open in those costs had an impact on our results as well. So when you factor in those different pieces, that kind of pushes us up into that 28 to 29 range. So that’s kind of the area that we’re looking at. As we look through the duration of 2024 from a margin perspective,, we’re hopeful that drip powders will really take off for us, as we look at really Q3 and Q4, maybe there’s a small impact in the second quarter yet to be determined. Most of those trials are still ongoing throughout the country. So there’s a lot of bright spots that we believe are out there right now to kind of help drive a stronger gross margin profile through the rest of the year.
Remington Smith: Really appreciate the color there. And then my last question, if I could at that time. With the Canada’s reform in Germany that recently occurred in April, and broader legalization efforts around Europe, do you see opportunity to capitalize on some of those reforms?
Greg Sanders: Well, we believe there is opportunity. We have not taken advantages as of yet. But we are actively speaking with certain distribution companies about getting some of our proprietary brands over into the European market, but again, nothing has been [indiscernible].
Remington Smith: Okay. Appreciate the color. I will hop back in the queue.
Operator: Thank you. At this time, we have no further questions. I will turn the call back over for closing comments.
Darren Lampert: I’d like to take the opportunity to thank all our shareholders for their continued support of growth generation. I wish you all the best for a happy summer and we look forward to updating you on our second quarter in August. Thank you.
Operator: Ladies and gentlemen, this concludes your conference for today. We thank you for participating and we ask that you please disconnect your lines.
