Meta Marshall: Great, thanks. Maybe first question just on Twilio, it sounds — I just wanted to get a sense of how is it different now that you’ve actually been able to get your hands on it and kind of see the organization and were you able to kind of hold on to some of key engineering talent that comes over that you’re most excited about?
Romil Bahl: Yes. Thanks, Meta. Look, I think the first thing I’ll say is the strategic rationale for the deal absolutely remains in place in terms of how excited we’re all about the engineering talent that you mentioned. Much of the Kore network team is actually in Germany, was able to visit with them, have a really productive visit — and so very much looking forward to as early here as this quarter is seeing sort of a combined next-generation product road map to seeing an accelerated plan of building out that digital front end, which clearly these guys just born digital, we’re easily the best digital consumption of IoT, sort of, business model in the market, and we’re looking forward to having them help us build this year at lower cost, obviously, with cost savings that we talked about when we did the acquisition.
So I would say all of those sort of strategic rationale points stay very much in place. The cultural fit point is also very encouraged. I mean, as I alluded to in Germany, but also in the U.K., here in the United States. We’ve had excellent meetings with them. In some respects, the integration is going sort of better and faster than we could have hoped including, by the way, on the gross margin line, which is kind of nice to get really confident that we can get to breakeven here even this year sort of in the fourth quarter, and obviously, our promise of being accretive next year, therefore, becomes completely de-risked, right? So the only thing that I would say that if you had to scratch for kind of a negative is that, again, alluding to my comment 18 months ago when we saw the plan and what they were supposed to be at, they’re obviously sort of far off that smaller entity in terms of revenue today and even the growth rate is tampered than we were hoping and sort of getting to what the plan said.
Some of that, look, it’s just — it’s 12 and 18 months of distraction for this team when obviously, they sort of have heard rumors first and then confirmation that they were not strategic to the future of Twilio, people start looking for jobs. They’ve had attrition, especially in their sales force, really, very hard to sell with our sales force. So yes, they’ve come in smaller, but we’ve embraced the challenge. Our new CRO is all over working with the Twilio leaders on, I’ll say, rebuilding the momentum that we know they can have and can be accretive to our growth.
Meta Marshall: Great, thanks. And maybe just a follow-up question. If you could just kind of remind us of how much of the solutions business is kind of what you would deem more recurring versus project base?
Paul Holtz: Yes, it is rough 60-40. Again, it depends it will vary each quarter, but that 60% has been pretty consistent on customers, who either order annually, so one PO or order on a quarterly basis. But yes, it’s 60-40.
Romil Bahl: Sort of, programmatically recurring, as we call it, yes.
Meta Marshall: Got it, okay, perfect, thanks so much guys.
Romil Bahl: Thank you, Meta. [Indiscernible] operator?
Operator: Yes, I’m here. I apologize, mike. Computer froze. Thank you. Our next line comes from the line of Matt Niknam with Deutsche Bank. Please proceed with your questions.
