Gene Sheridan: Yes, no, you heard it right. It will grow strongly not as fast as the other markets since it gets sort of a slow start with that Q2 recovery just starting next quarter. But it does benefit not only from that market coming back, we see inventory levels on the channel quite low. We see forecasts and even backlog coming back and indicating that Q2 recovery in a stronger second half of the year. We also highlighted nearly 100 new GaN chargers developed with our customers last year, adding to the ones already released in the market, that puts us at something like 250 plus GaN chargers released to production, many of them ready to launch as that market comes back. And we still got another 250 in development behind that. So there’s a lot of positive things there that will drive that growth, but we’re still cautiously optimistic and planning that growth as I said, good growth year-on-year, but even stronger growth in the other markets.
Sam Peterman: Okay, that’s really helpful. I guess as a follow up, I wanted to ask on the data center market, you talked before about I think last quarter $5 million purchase order that you thought would ship in the back half of this year. Is that still on track? And then more broadly, I know you have, I think you said you got 10 programs right now. I think you had nine last quarter. What are you seeing in terms of design activity and just in that market? I know there’s certain areas that spending is slowing in the data center, but I mean, you guys obviously being at the leading edge may not be seeing that, but I’m just curious, how you’re seeing the data center market?
Gene Sheridan: Yes, that particular program we highlighted last time has delayed into 2024. But with that said, as you pointed out, we’ve actually increased the customer pipeline, including that one from nine to 10. So trending up a little bit there, we don’t see any signs of slowdown. I think that one program that pushed to 2024 is kind of unique and not a reflection of any macroeconomic trends that we can see. So I think it looks positive, but as you say, we’re early in that market. We’re not the best indicator of it. We see all upside coming from zero and we see a lot of strong tailwinds between Titanium Plus and the earlier comments about the AI data centers demanding more power from these power supplies.
Sam Peterman: Okay, great. Thanks guys.
Gene Sheridan: Thanks Sam.
Operator: Jon Tanwanteng with CJS Securities, your line is open.
Ross Kesselman: Hi, this is Ross Kesselman in for Jon. A quick question, could you maybe specify on the traction you were seeing from policy changes such as the IRA and different funds for renewables and the titanium standards for Europe? I know you touched upon it, but do you think you could add a little bit more color?
Gene Sheridan: Yes. I think that titanium standard is a unique one that’s already in place started January 1. It’s specific to EU, but most of these power supplies are designed to meet global standards. So I have to meet the minimum required standard out there, which is €“ or the toughest standard I should say, which is the titanium one in Europe. So that one is clearly driving strong trends for us, we have actually four different customer platforms, server platforms, four data centers in development, all of them meeting that titanium standard, working closely with those 10 customers that I talked about. I think Inflation Reduction Act is a little different. It’s huge amounts of money. As we highlighted over 50 billion, 60 billion in our target markets, it is just rolling out this year.
