Carrie Eglinton Manner: Thanks, Brandon. The base business, the core revenue this year when you include our guidance for Q4 is about 2% year-over-year growth. We see 2024 kind of in that low single-digits range where we’re working to improve on that. And partnerships like the distribution agreements that we’ve announced where we add more tests into that portfolio near term. While we would say it’s sort of a moderate impact, I wouldn’t call that a material change for next year. We are working to expand our portfolio in that core and to plug into that core in order to accelerate profitable growth. But I’d say this year’s 2%. While we aren’t providing 2024 guidance yet, it’s right to think about that kind of in that low single-digit range, but increasing.
Matt Stanton: Thanks. It’s helpful. And then Ken, could you provide any color on what the core business has been tracking in terms of the free cash flow either in 3Q or what they’ll do this year kind of year-to-date? Just trying to get some clarity on the bridge is where we think about where we are today for that business and getting to breakeven by the end of 2024. Maybe just talk about some of the progress you made this year on closing the gap between burn and break even by the end of 2024? Thanks.
Ken McGrath: Yeah. We’re making progress. We’re still confident that we will achieve our goal of the core business cash flow from operations being breakeven as we exit 2024. As we mentioned in Q1, we had the target of $15 million of cost savings, we’ve exceeded that and we’re continuing — and the good news is we have a lot more opportunity to drive out and drive cost reductions. So making progress there. From an overall cash perspective, we did mention that we had — we finished the quarter at $225 million. And related to that, we do see a lot of tailwinds in Q4 to drive that higher. We mentioned the $24 million that we collected already in Q4 for the Department of Defense contract. In addition, we think we’ll generate some positive cash flow this quarter. And then we should have some tailwinds related to our inventory and our accounts receivable balance items in that area as well.
Matt Stanton: Great. Thank you.
Carrie Eglinton Manner: Thanks, Brandon.
Operator: The next question comes from Vijay Kumar with Evercore ISI. Your line is now open.
Unidentified Analyst : Hi. This is Alexandra on for Vijay. I just have two quick ones. On that new Age contract is this going to be at that same $5 ASP as we’ve been seeing this past quarter? And then there’s just any more color Tim that you could give on the further cost actions and when we can actually expect to see those showing out?
Carrie Eglinton Manner: Hi, Alexandra. I’ll start just on the HHS contract is in the $3 range. So our last two RFPs with the government have been in that range as have there were 12 awards we were on and the latest they’re all really in that range. .
Ken McGrath: On the cost action and the math on that just to build on what Terry said. So we set out Latha, the revenue we expect from that is $5.7 million. So just do the math there and divide by three and that’s the unit volume that we’re expecting next year. On cost paying actions, the areas that we’re focused on are facility consolidations — so leveraging our Opus Way facility and really driving down the overhead by putting more volume into that facility. We’re also focused on reducing our scrap which we made a lot of progress in the last 1.5 years or so. as well as automation where basically we want to leverage all of the learnings that we had from doing Intelliswab devices at scale. And one of the learnings was automation and applying that to our other product lines.
as well as looking at some other operational efficiency opportunities when it comes to product standardization when it comes to looking at packaging. So those are all the areas that we’re driving. That’s on the operations side. On the OpEx side what we’re doing is trying to leverage kind of a profit excellence mindset where we look at all of our areas of opportunity and we look at where we can streamline our processes. along the way and drive cost savings through that.
