Ronen Samuel: Thanks, Chris. Let me clarify. Q3 was another good quarter for upgrades from Atlas-to-Atlas MAX. So Q1, Q2, Q3 was excellent quarter in terms of upgrades and meeting our expectation and plans for this year. We didn’t expect to continue in Q4. Q4 our customers are focusing on peak season. They need the machines in full productivity and they cannot allow the machine to be upgraded, which take the machine a few days off. So we don’t expect in Q4 and this is about on the upgrades. We do expect continue the upgrade cycles in Q1 2024. We already have orders for customer for Q1 2024. And as I mentioned we still didn’t receive the order from our global strategic customer for that and this is a potentially upside.
Chris Grenga: Got it. Thank you. And maybe just as a follow up to the question asked earlier about the extended payment plans, have you found that for customers on the margin that this is something that is making their purchase decision easier? And how much uptake do you expect with these financing plans longer-term? Thank you.
Lauri Hanover: I do believe that the opportunity to have extended payment terms on our products is helpful. In some cases it does make all the difference for the timing of a customer when they’re willing to step up to the plate. As to how much is going to depend in the future. It’s unclear to me right now exactly how much that could be, but I do believe that it will represent a significant portion, at least over the next twelve months or so.
Chris Grenga: Great. Thank you very much.
Operator: Thank you. Our next question is coming from Greg Palm with Craig Hallum Capital Group. Please proceed with your question.
Greg Palm: Yes. Thanks. Just a couple of quick follow ups on the capital allocation front. Following up on a previous question, is there anything that would preclude you from doing an accelerated share repurchase? Would that require the same kind of a court approval as a normal buyback?
Lauri Hanover: We have the court approval for the buyback that we announced. That court approval will take us all the way through into Q1. So we have that approval, and we can ask for another.
Greg Palm: Yes. I guess I’m asking if you were to use that up, it sounds like you’re going to be more aggressive. If you use that up and want to do something like an accelerated share repurchase, are you able to do that? Would that require the same kind of court approval as a normal buyback?
Lauri Hanover: Yes. Well, yes. You require the court’s approval to do a buyback whether you call it accelerated or not.
Greg Palm: Yes. Okay. Understood. And I guess just, you gave some commentary on revenue and OpEx. What about gross margin for next year? I presume that mix will be positive if we still assume consumables are a greater portion of mix than in years past. But any other way to sort of qualify how you’re thinking about gross margin and the continued improvement there in fiscal 2024?
Lauri Hanover: Well, let’s start at the beginning. So as you mentioned, there’s the issue of the mix between products and services and consumables. That certainly has an impact. The second impact is that we have been throughout this year taking cost saving measures in cost of sales, which we hope to also see the benefit. It takes a bit more time to see it, but we do expect to see some benefit. We also have other initiatives aimed at improving efficiencies in matters that affect gross margin. But again, the major benefit that you see from these types of programs usually takes a little bit more time than you can affect in operating expenses. And also improvement in gross margin is of course, in our case somewhat dependent upon volume. So as volumes improve, we would also see better gross margins.
Greg Palm: Okay, understood.
Ronen Samuel: Greg. I will just add on, you should expect in Q4, of course improvement in the gross margin due to the mix of ink, supplies versus system. And for the overall 2024 we do expect a modest improvement on gross margin as well, some of it on the efficiency that Lauri was mentioning, some of it is related to volume.
Greg Palm: Yes. Okay. All right. Thanks again for taking the questions.
Operator: Thank you. It appears we have no additional questions at this time, so I’d like to pass the floor back over to Jared Maymon for any additional closing remarks.
Ronen Samuel: Hey first of all thank you all…
Jared Maymon: Thank you, operator.
Ronen Samuel: Go ahead, Jared.
Jared Maymon: Thank you, operator, and thank you for joining on this conference call. Should you have any follow ups, please don’t hesitate to reach out to me or Sarkis.
Ronen Samuel: Thank you very much everyone.
Operator: Thank you. Ladies and gentlemen this does conclude today’s teleconference. We thank you for your participation, and you may disconnect your lines at this time.
