UnidentifiedAnalyst: Okay, great. Thank you so much for taking my questions.
Operator: The next question is from Matt Miksic with Barclays. Please go ahead.
Matt Miksic: Great, thanks for taking the question. Can you hear me okay?
Moshe Mizrahy: Yes.
Matt Miksic: Terrific. So a couple of questions, if I could. So the first to follow up on sort of the current tone of the market, but more specifically kind of the seasonal cadence for the back half in terms of system sales. If you can maybe give us any sense of whether, the strength in Q2 eases here in Q3 and rallies in Q4, or any color, either regionally or across your different systems that you could provide, as well as on some of the spending and investment that you’re making in ophthalmology, for example, and sort of entering new specialty areas. Is that — not talking about 2024 in detail, I’m sure, but should we expect those spending levels to continue through year end and into 2024 or any color you can provide on that? And I have one quick follow-up, if I could.
Moshe Mizrahy: Yeah. Well, the medical aesthetic and aesthetic surgical industry has some seasonality. Although in 2021 and 2020, just because the COVID, we did not see the same seasonality. For example, in 2020, the Q2 was a very tough quarter because of the COVID and we didn’t do well. But everything, when we start, when the market opened in Q3, which is relatively should be a summer time, which is slower, we saw, a big jump. And the same in 2020 — 2022, just because of the COVID, we did not experience the same seasonality. And that’s something we need to say. But overall, in 2023, I believe the seasonality will come back. And the seasonality in medical aesthetic is Q1 is usually softer, soft Q. Q2 is relatively strong. Q3, because of the summer, Europe and also the United States, Europe and the United States is a little bit slower; although Asia and Latin America are not experiencing exactly the same seasonality.
For them, Q3 is relatively strong. And Q4 is a strong quarter for everywhere, all the territories. In 2020 and 2021, we experienced increase compared to Q2 in the revenue. We don’t have enough information to judge right now what will happen in Q3, 2023 worldwide. From what we see, we started very nicely with all the territories. What will happen in the month of August, which is usually the tougher month is yet to see. Now, Shakil, do you want to add something on North America?
Shakil Lakhani: Yeah, sure. So, as Moshe was saying, Q3 typically once we clear out our funnels, the first couple of weeks of July and the first, basically the first two to four weeks of July are spent starting to build back up the pipeline. So with that being said, as Moshe mentioned, it’s a little hard for us to give you any indication of how things are going. This is what we’ve — many of us on the management team have experienced for over 15, 20 years in the industry. So we’re kind of used to it, but you just like as Moshe said with COVID, we didn’t know what to expect in Q3 was stronger than Q2, which I don’t think has really happened in many places. But we feel like the demand overall, at least in North America is stronger than ever.
As I mentioned before, the product and brand awareness is definitely helping. And, you’d ask the question in terms of envision and continuing to spend, Moshe doesn’t like using the word spend. He likes using the word investing and makes improvements.to spend. Moche doesn’t like using the word spend, he likes using the word investing, it makes him feel better. But with that being said, we’re definitely going to invest in that market and as I mentioned earlier, in hiring new talent as well, but also penetrating more of those specific to that vertical itself. Does that make sense?
