Sean Dodge: Okay, great. And then on the enhanced product, you said looking ahead, the, the goal is to shift, give or take 10% of your portfolio over there per year. You also said both demand and supply are there and so what’s keeping you from shifting more of it in any given year? Is it just because there’s a limited number of partners still and so only so much demand for those types of deposit, or is it more on the individual account holder side and just getting them on board and kind of the mechanicals of what you need from the account holder to ship?
Jon Kessler: No, I think there are two factors, Sean. One is that we don’t want to create a uneven ladder, if that makes any sense where we too, let’s say have, well, three factors. One is we don’t want to create uneven ladder. That is to say, were we to let’s say, have a movement of 30% or 40% of our deposits in one year, you would then be asking us, X years from there, well wait, have we created uncertainty about the redeployment of those assets? And we don’t want to do that. That’s not good for how we manage the business and it’s not good for our shareholders. So that’s kind of issue one. Issue two is that we are learning as we go and learning is, I think as are our partners and so that is, it’s probably fair to say that the demand for this program today among would be partners is higher than it was a year ago.
Well, part of the reason is because it’s existed for this long and people have watched the results, and there’s a level of confidence in those results. The last factor, which is of course relevant is that the source of these assets, in addition to new members contributions to HSA, is existing members. And so we also have to manage our FDIC commitments, meaning our bank deposit commitments. And so, we were able to in this cycle, we were able to deploy less into banks than we would have without the existence of enhanced rates and again, that allowed us to be, I think, appropriately choosy, both in terms of economic return and other factors. And so that — but that’s also a bit of a breaking factor too. That is to say we want to make sure that we still have plenty of liquidity to meet all of our minimum commitments there.
So within those three parameters, which are really in my view, the key to this, ultimately we feel like we’re moving a pace. Member interest has been there, no pun intended, has been there the whole time and I think if we were devoting, if our sole objective was to move as fast as we could, we would be doing so with — we’d be moving faster with a heavy marketing emphasis. But I don’t think that’s what we need to do right now. We’re happy to have — with this element, a multi-year tailwind that will contribute to even longer term stability.
Operator: The next question is from David Larsen with BTIG. Please go ahead.
David Larsen: Hi, congrats on a good quarter. Can you talk about the increase in the revenue and EBITDA guidance? What are the main drivers of that? And then also it looks like the interchange revenue increased sequentially from about $33 million up to $36 million what was the main driver of that, and was that ahead of or in line with your expectations? Thank you,
Jon Kessler: Tyson, you want to take those?
