Joydeep Goswami: I mentioned the breakdowns earlier. So very quickly, Rachel, I think about 25% of that guidance reset is really coming from the impact from China. Of the remaining 75%, approximately 50% of that 75% really was coming from the impact on high throughput consumables related to the transition to the X. And then the other 50% is some of the cash conservatism that we’re seeing with customers outside of China. Right? So that’s roughly how we see the math working out. In China, first of all, there is no stimulus built into our expectations for the second half of the year. There never was in our guidance as well. As far as we could see, the stimulus in the first half of the year benefited more of the industrial segments, which we don’t play in. And there is no – we didn’t see any stimulus in the second half – sorry, the second quarter either, right? So it’s consistent. We’ve not built it in and we hadn’t initially as well.
Operator: And our next question will come from John Sourbeer with UBS.
John Sourbeer: Maybe just a couple of clarifications. So appreciate confirming the long term guidance in the mid-teens. It does sound, though, that some of the China headwinds there could be structural with some of the competition increases there. I guess, just has the long term outlook for that market change at all? Just follow up here, just on the complete long reads, any color there? What you’re seeing the demand for that launch?
Joydeep Goswami: Let me take those in order. So, I think for China in terms of the long term outlook, I think China remains an important market for us. And we are committed to serving our customers in China. Our brand in China actually is very positive. And again, we remain committed to serving that market. Now, again, given some of the changes we’re seeing, we will continue to kind of refine our strategy in terms of how we go to market there, the kinds of partners we choose in order to reach the relevant segments, the highest growing segments of the market better and more efficiently. So none of that has changed. But we continue to observe how China is going to evolve from its current condition as most other people in our space are.
In terms of the Illumina complete long reads, so the interest on that has been very high, right? We have a large number of customers that have taken the current WGS product, and are working on it. I think really we have always anticipated that the real jump into this technology would come from the enrichment product, which we are on track to delivering, but that also is coupled because of the economics involved in it, really coupled with the launch of the 25B flow cell, right? So that is still coming through towards the end of this year and really pick up as we go into 2024.
Operator: And that concludes our Q&A session. I will now hand the call back over to Salli Schwartz.
Salli Schwartz : Thank you again for joining us today. As a reminder, a replay of this call will be available in the Investors section of our website. This concludes our call and we look forward to seeing you at upcoming conferences and other events.
Operator: Thank you. That does conclude today’s conference. We do thank you for your participation. Have an excellent day.
