Don McClymont: Well, we have products which are running artificial intelligence-based algorithms today, and we’re now adding hardware accelerators to make those guys even better. We do expect that there will be some initial revenue from that towards the end of ‘25 and ramping in ‘26. And then the next wave of what we’re doing here beyond the radar and vision wins that we’ve talked about, which we are excited about, will take us even the next level beyond that. We’ll be beyond that in time. But these are dollar content opportunities which are ranging in the $100 range. And it’s something that we are very excited about for the long-term future. There will be a huge amount of differentiation that goes not only with the hardware, but with the algorithms that we run on top of it.
So it is something that we are pursuing very actively and the market is very ripe for it. The level of interest in it is super high, likely we’ll have the privilege of being able to choose who we work with on this because the interest level is high and simply, we won’t have the [indiscernible] to support the whole market in one go. So we’ll take our partners.
Anthony Stoss: Okay, thanks a lot, Don. I appreciate it.
Operator: Your next question comes from Cody Acree from Benchmark. Your line is now open.
Cody Acree: Yes, guys. Thanks for taking my questions. I guess if you can just talk about what’s happened over the last 90 days. I think we’ve all seen from your peers, but I’d like to hear from you what’s happened with your visibility over the last 90 days. You came into the quarter pretty confident that June was going to be a return to growth with March being the bottom. Can you just talk about the deterioration in that visibility?
Don McClymont: Well, look, I mean, we’ve all seen the data points from largely vehicle manufacturers, China traditional Detroit, [indiscernible] and of course, of course, our peers in the industry. It’s tough out there on the main street. And our demand did deteriorate through the quarter as we had expected. But it’s purely macro. There’s nothing fundamental or company specific. We haven’t lost share, we haven’t lost customers. It’s just been a particularly tough reset and we under-called it a little bit. Certainly, we have to hold our hands up at that point. But I think we feel confident about what we’re seeing going forward now. We’ve tried to be as measured as we possibly can and conservative as we possibly can in our guide going forward. And really, I think I’ve always said we can’t really control the weather. And sometimes we get struck by lightning, but that’s where we are.
Cody Acree: I guess, what has happened to your bookings or your backlog over the last 90 days, how has your firm backlog looked?
Don McClymont: Yes. I mean integrated over the next few quarters, it’s certainly looking like it’s on plan. We had some relatively small movements in and out of Q1, which is at the end of the day, these are all things being equal, relatively small, absolute numbers of dollars that need to move in order for us to have a slight problem. So we’re seeing it picking up in the second half. We know it’s picking up in the second half because of the NPIs that we’re staged for in the second half. So from our perspective, we’re largely on plan.
Operator: Your next question comes from Jonathan Tanwanteng from CJS Securities. Your line is now open.
Jonathan Tanwanteng: Hi, thanks for taking my questions. I was going to ask about the scale of the design wins you landed in the quarter if they’re comparable to some of the bigger ones you’ve seen in the past? Or are they more moderate size.
Don McClymont: They are very significant. They aren’t in danger of taking the record for the number one spot in terms of our historical design win size, but they are significant. They are going to drive significant annual revenue. So you can assume there are somewhere in between our world record and significantly higher than maybe our traditional singles and doubles, which have driven the revenue to date.
Tom Schiller: And John, we’ll outline that in some more detail at the fall quarter when we reveal our strategic backlog update.
Jonathan Tanwanteng: Okay. Great. Thank you. Could you also give us an idea of how much more conservatism or confidence you have in your guidance these days, just given the last few quarters is a little bit harder to predict? Are you adding more cushion? Or do you feel better about where you’re going to be in the next couple of quarters and years?
Don McClymont: Yes, I think we do feel more confident. We certainly did add more cushion to it. Our plan is to make sure that we provide the market with extreme predictability. We’ve had a good record to this date since we came public. We are going through a period of extreme turbulence in our particular vertical. But I think we feel pretty good about where we are going forward.
Jonathan Tanwanteng: Okay. Great, thank you.
Operator: There are no further questions at this time. Donald, please proceed with your closing remarks.
Don McClymont: Well, thanks, everybody, for joining us today, and thanks for your insightful questions, and we look forward to seeing you at the upcoming investor conferences.
Operator: Ladies and gentlemen, this concludes today’s conference call. Thank you for participating. You may now disconnect.
