Brian Ketcham: Yes, Adam, this is Brian. Yes, what we have been saying the last couple of quarters is we do expect to see some of the IIJA funding start to have an impact in the second half of our year. As that gets to the states and then the states plan their projects, I think that’s still the expectation. We €“ and one of the areas that we expect to see some growth in the second half of the year is in the Road Zipper leasing side of the business as Road Zipper gets involved with some of those construction projects. Timing can vary. I think the inflation that we’ve seen that’s impacting some of the costs of some of these construction projects that have, in some cases, resulted in the projects going back and getting rebid, that kind of plays into some of the timing.
I think the other €“ a little bit of a wildcard out there right now, too, is just you’ve seen the extreme weather in California. We do have projects that we were planning in California. So, the question is, with the priorities, do the priorities get shifted into repairing a road versus a road construction project. So, again, a number of variables, but still positive, I would say, tailwind to the infrastructure business, starting into the second half of €˜23, but really continuing on into 2024, probably a little bit more strongly.
Adam Farley: Okay. Thanks for that. And then I wanted to shift gears to the increased investments in new products. What are the investments being made? What are the expected contributions to revenue from new products? Should we expect these expenses to be discrete or maybe should these new product development expenses continue at this level or higher?
Randy Wood: Yes. This is Randy, Adam. I will take that one. And we are seeing today a couple of things, an increase in total spending, but also a shift in spending. And our focus is really move towards technology and innovation tools like FieldNET, our strategic partnerships to kind of broaden our presence in our customers’ ecosystem. So, we are really seeing more money and a shift of our total spending portfolio going into technology and innovation. We will see our smart pivot platform that we have got out on beta launch right now, full commercial availability later this fall. We will see a new FieldNET user interface that we have been working on pretty aggressively, getting a lot of tremendous customer feedback there. But those products are going to get to market before the end of this calendar year, be in our customers’ hands for this fall season, and we think it will do a lot in terms of customer loyalty and retention.
We also think it’s going to give us an upper hand on attracting new customers to the FieldNET spaces as well. As you know, we haven’t broke out kind of the technology innovation sales as part of our mix. And when you look at the value of our hardware device and a subscription compared to the value of a machine, there really isn’t €“ you can’t compare those two with an acceptable ratio. So, we do see it being an important part of long-term market share growth, our ability to attract and retain customers. But we, again, haven’t broken it out in terms of revenue percent. When it comes to spending rates, this is an area that we feel we need to differentiate. So, we will continue to see, in my view, spending at these levels. And if we see a great market opportunity that comes back to our voice of the customer process, we don’t have any fear of increasing spending there.
And there is really a meritocracy in many ways. As we start to generate gross margin, operating income improvement, we are going to be more than willing to put that back into our new product innovation that we think will allow us to grow market share and retain and attract customers.
Adam Farley: Thank you for taking my questions.
