Eugene Simuni: Related question, I wanted to ask about Lightspeed Capital, which you highlighted again, and sounds like doing very well. So, yeah, maybe you can elaborate a little bit on the traction you seeing there and also in the more challenging economic environment, obviously, a product like that could be a little trickier. So I would love to hear your philosophy on how are you managing that through that kind of potential recessionary risk?
Jean Paul Chauvet: Capital continues to go well. Revenue, I think, something better than 200% this quarter. Advances, we continue to make it available to a broader base of our customers. And that advanced volume has been increasing as well. So far, so good on losses remaining minimal for us as well. So we’re seeing great returns there. The benefit we have, of course, and the impact of the macro is not something we consider and we factor in. As we see all the trends on a daily basis from our customer base and that informs the offers we extend from the merchant cash advance, because we have that line of sight and that visibility into these trends, we can make what we think are pretty far and good decisions on who to advance to and how much.
Operator: Your next question is from the line of Thanos Moschopoulos with BMO Capital Markets.
Thanos Moschopoulos: With respect to becoming cash flow positive, perhaps as we think about timing, you said profitability should be middle of fiscal 2024. Just given the working capital dynamic, should we think about cash flow being positive maybe a couple quarters after or how should we think about that?
Asha Bakshani: For now, we’re focused on adjusted EBITDA breakeven or better. We do manage our cash flows from operations very closely. But as Brandon just talked about, our merchant cash advance business is growing, and we are funding that from our own cash balances. And so, as we see that business growing, we should expect to see cash from ops out of line with our adjusted EBITDA. As that business grows larger and larger, we are considering putting that off our balance sheet, but in the interim, while it’s on our balance sheet, we wouldn’t expect cash from ops to be breakeven.
Thanos Moschopoulos: Any update in terms of monetizing the supplier network, such as with B2B payments? Will that be sort of the next focus now that you’ve launched the unified retail and hospitality platforms or how should we think about that?
Jean Paul Chauvet: Yeah, you’re exactly right. So we are investing a lot in our B2B network. We do believe that’s going to be the moat as we go forward, and going into the verticals, working with the suppliers, ensuring that suppliers get the sell through from the network. So that’s a big piece of our strategy. But you’re absolutely right. When you look at the sequences for us, the number one sequence was to get one product globally, which is Lightspeed Retail X-Series integrating all of the greatest of ecom and omnichannel workflows. And so, that now is out, or will be fully out by the end of this fiscal year. Then the next step now, and we have a lot of initiatives, and we’ll be announcing a lot on that front, we have now the B2B team working in conjunction with this launch to now create value for the suppliers.
We have a number of beta customers on suppliers and everyday we’re continuing to improve this. Next fiscal year, we’ll be coming out with a lot of announcements on this and progress with suppliers within the industries that matter for us.
Operator: Your next question is from the line of Josh Baer with Morgan Stanley.
Josh Baer: I know that the inbound sales and virtual sales will remain the most important and dominant. I was wondering what the update is on the size and productivity of the outbound sales force. And I guess, more broadly, just the update on the go-to-market in US restaurants.
