And so our industry tends to get pulled when a giant end user decides to adopt and basically proves the use case. And so, I can’t guarantee that’s what’s going to happen here again. To Jeff’s comments, others are watching closely and are engaging. And so, we’re doing everything we can to make this first opportunity successful and then to pursue everything else we can in the supply chain and logistics space.
Natalia Winkler: Awesome. Thank you. This is super helpful. And then the second one, could you guys provide an update on the Voyantic acquisition like how has that been and how are you seeing maybe any kind of integration or revenue potential there?
Chris Diorio: So the Voyantic integration, from both my perspective and I spent time last week with, Jukka, Voyantic CEO, the integration is going well. Teams are working well together. We started with the financial integration, HR integration, IP integration just because Voyantic was running just fine before we acquire them. And as we go forward, we are going to be significantly focused on improving the quality, reliability, and performance of labels in the market, easing the design process, helping insured to enterprise end users that the labels that they deployed with the ICs that are in them and the whole set of the deployment is sufficiently reliable for them to base their business on. So we have very high hopes for the future, close integration between the teams, to drive enterprise adoption, and our solutions focus as a company by adding that quality, reliability, manufacturability, and performance to the equation that we already were bringing to bear, which is the endpoint I see is the reader I see is the readers gateways and the software.
So it’s just a piece of the puzzle that we think makes a stronger whole solution.
Cary Baker: And, Natalia, this is Cary. In addition to the strategic benefits that Chris just outlined from a financial perspective, it’s gross margin accretive, it’s operating margin accretive, it’s checking all the boxes for us.
Chris Diorio: They are in good team.
Natalia Winkler: Awesome. Thank you.
Chris Diorio: Thank you, Natalia.
Operator: The next question is a follow-up from Scott Searle with ROTH MKM. Please go ahead.
Scott Searle: Yeah. Just a quick follow-up on Harsh’s question on the system side. Chris, you know, this business, it’s tended to be a little bit lumpy and depending on where customers are, it’s kind of been a little erratic sometimes from quarter to quarter. But the general direction seems like it continues to build those. I was wondering if you can give us some metrics or help us frame a little bit you know, how big the opportunity is today? How does that pipeline look like on the project and the systems front versus maybe where we were at the start of the year or 12 months ago? Thanks.
Chris Diorio: Yeah. I’m going to start that with an overall strategic perspective and then then I’ll hand off to Jeff in terms of just any comments he wants to say on the pipeline, but I’d like to start kind of with where we are strategically. We as a company are focused on enterprise solution, enabling enterprise end users, the likes of our large North American supply chain and logistics end user to successfully deploy a solution that completely delights them and their customers. And so our systems business is really the tip of the spear that gets us into those accounts, helps us invent solutions to hard business problems, as I said in my prepared remarks. And drive that use case, drive the solution to that problem, which drives the use case.
And then flow our learning’s down to our reader ICs over time such that we can enable broad market adoption of that particular solution and use case and then step on to the next. So if you think about what we’re doing with the readers and gateways, the focus is on enterprise solutions. We typically don’t give that pipeline numbers in terms of where we are and things like that, but I’ll let Jeff say maybe a few words on kind of the overall systems business and opportunity.
Jeff Dossett: Yeah. Thanks, Chris. I’d start with, that their systems pipeline remains strong. To Chris’s point, our strategy of engaging with visionary lighthouse enterprises to solve previously unsolved problems is reflected increasingly in our systems pipeline, that is, the proportion of our overall pipeline, that is represented by these large enterprise engagement opportunities is increasing. It is strong. I would say that the broader pipeline, broader reader in shape can’t reader and gateway channel pipeline reflects some of the impact of the macroeconomic. That is it is not growing currently at the same rate as the large enterprise engagements in our pipeline. I think can’t predict when, but I think sometime in 2024, when overall macroeconomic conditions improve, we’ll see a return to the growth in the broader channel partner led, reader and gateway pipeline.
Scott Searle: Great. Thank you.
Chris Diorio: Thanks, Scott.
Operator: This concludes our question-and-answer session. I would like to turn the conference back over to Co-Founder and CEO, Chris Diorio for any closing remarks.
Chris Diorio: Thank you, MJ. I’d like to thank you all for joining the call today. I hope you and your loved ones are and remain safe and well. And thank you for joining our call. Bye-bye.
Operator: The conference is now concluded. Thank you for attending today’s presentation. You may now disconnect.
