Brian Kinstlinger: Okay. Now the $27 million of bookings, do I think about that as e-commerce revenue, it’s annual from those brands plus some expected improvement based on your platform and the fees in that? Is that the way we should think about that?
Jonathan Huberman: The way it is that a bookings metric is for us, is our expected first 12 months revenue that we generate from that once they go live. So if we sell someone today and they go live in 60 days, for argument’s sake, let’s call it end of October. So we — so from end of October to the following, beginning of October, that would be whatever revenue we expect to get would be our bookings. Now that — these are not 1-year contracts. I don’t think we’ve signed any 1-year contracts as far as I’m aware of. Everything is multiyear contract. And so it’s not like at the end of 12 months, this number of stops, you’d assume it’s accelerating, right? So the way I look at it is if you think about that $27 million number is that, that’s what incremental to where we exit this year, we would expect to have next year already effectively baked in. That’s all I can say.
Brian Kinstlinger: I understand that, so let me ask you a different way so you understand it differently. I understand $27 million is incremental revenue from you. Is that based on — you’ve added 12 brands, right, and they do some level of revenue and you get the fees off of that. So it’s based on some expectation of the revenue maybe they did in the last 12 months plus you expect to improve those revenues on your CaaS by so much?
Jonathan Huberman: Sometimes we do, sometimes we don’t. It’s — each one like some is a new business. Some is a B2B, they haven’t done this way before. So it’s our expectation, and we try to be conservative — conservative in the eye of the holder. And we think of it that way because I don’t want to disappoint either investors or my board. But sometimes it’s what they’re doing today without any growth and then growth works in our favor. So it really is the best guess on our part based on understanding of the customer and what we think will happen under ours, again, through what we believe is a lens of conservatism.
Shahriyar Rahmati: A couple — just a couple of things on one of those — customers, as an example, there’s actually long term, absolutely right. And we haven’t signed anything that close in two in exact terms. And it’s generally been three. And secondly, the largest of the deals from a GMV and customer size perspective, we’ve actually signed the 5-year initial term deal with. And the bookings that we have included in the $27 million only assume over the first 12 months that 50% of their current activity has moved over onto the platform. So to provide a little bit more context around how we’re thinking about the bookings number.
Jonathan Huberman: And that’s a B2B, just to be clear. It’s not the only time we ever have something that it doesn’t completely come to us. All of our D2C customers come to us completely. This is somewhat special case.
Operator: At this time, I’m showing no further questions. This concludes the Q&A. I’d like to turn the call back over to Mr. Huberman for any closing remarks.
Jonathan Huberman: All right. Thank you. Thank you all for listening in. We appreciate it, and look forward to talking to you next quarter. Have a good afternoon.
Operator: Thank you. Thank you for joining us today for Nogin’s Second Quarter 2023 Earnings Conference Call. You may now disconnect. Everyone, have a wonderful day.