John Collins: Arjun, yes — or Ryan, sorry. I think we covered this in my prepared remarks, but I can reiterate, of course, the primary sources here. There’s $70 million in total that we consider non-core that will not reoccur in 2023. $50 million of that has 2 primary categories: COVID-19 testing and professional services with a strategic partner in the testing and diagnostic space. With regard to Gainshare labor and pandemic-driven variable revenue, that’s approximately $20 million of that figure. It is not WildHealth revenue that is a large contributor here, setting aside the Q4 disclosure that we’ve provided.
Robert LoCascio: And the other thing is, although WildHealth’s coming off a small base, its core business, like the stuff Matt showed you, will double this year in growth rates. So — but it’s a small base compared to our size, but the — he’s got good trajectory there right now.
Chad Cooper: Next question comes from Siti from Mizuho. How should we think about the sequential ramp in profitability throughout the year? How do you get from positive EBITDA and free cash flow in Q2 to a 16% to 19% annualized exit rate by Q4?
John Collins: Yes. Siti, so the primary driver here relates to the cost-out actions that are underway as we speak in the first quarter. That’s a large body of cost that will exit. So that’s what will flip us to profitability from the Q1 numbers directly in Q2 in a couple of weeks. That alone will drive substantially the profitability in the ramp throughout the year. In addition, of course, our recurring revenue base is growing as well. And that’s a function of the core software bookings that we expect throughout the year and the AI-led growth. It’s interesting to note where we’re seeing a lot of action. And at the moment, there’s extraordinary demand for AI demos along the lines of what you’ve seen here. So that’s flowing into our views, of course, on bookings going forward. But we’re being conservative, hence the low single-digit to mid-single-digit guide on recurring revenue.
Chad Cooper: Thanks, John. Next question is from Arjun Bhatia from William Blair. How do you plan to contain the distraction from several moving pieces in the business in order to ensure you can execute on the core?
Robert LoCascio: Yes, we — I think that’s what we try to get across, we’re done with the distractions. So starting in Q2, we have a clean P&L. Basically, we have our core business. We’ve got our health care business and that’s what we’re going to live and die on. So we’re focused on it. We had to do a lot of things over the last year to prepare for this. But starting Q2, we have focused only on those areas.
Chad Cooper: Next question, also from Arjun. How is WildHealth monetized? What is the revenue model and accounting for the business?
John Collins: Yes, I’ll start. But then I think since we have Matt on the call, I’ll kick it over to him to explain some of the core business drivers. In terms of accounting, it is currently in our hosted revenue line, and there’s both recurring and pay-as-you-go revenue. And Matt, I’ll turn over to you to talk through the quarter and what drives it.
