Min Cho: This is Min Cho for Alex Rygiel. Can you hear me? Okay. That’s so confusing because I logged in as myself. But okay, sorry about that. A couple of quick questions. Just given the interest rate environment, are you seeing any kind of project delays or just slowdown in bidding opportunities for some of the larger projects?
Mike Jenkins: At this point in time, we have not seen any sub-sequential delays that we could attribute to that not at all.
Min Cho: Also in terms of your Voltrek business, it sounds like it’s progressing fairly well here. Are you still on track to hit kind of a $10 million to $12 million in revenue for the full year. Can you talk a little bit about the pipeline? And maybe how big this business can get for you in the next couple of years?
Mike Jenkins: Sure. Yes. We did say earlier that we thought that between the Voltrek business and the maintenance business that it would be around 1/3 of the business overall. We still think we’re on track for that, plus or minus. The $10 million to $12 million that you referenced for Voltrek given our current run rate coming out of this quarter, we definitely feel like that’s achievable. And in terms of the longer view of Voltrek and the EV space more broadly, as I referenced in my comments, the macro environment remains very strong towards EVs. It won’t be perfectly linear, but directionally strong. And we do see the opportunity to grow a business of $20 million to $50 million in the next couple of years.
Min Cho: Excellent. And then it’s nice to see that you reiterated your revenue guidance for the full year. Just any thoughts on EBITDA for the second half of this year. Can you exit on the positive EBITDA? And how do we get there?
Per Brodin: Well, in my comment, I certainly mentioned that we expect our improved and increasing sales to [Indiscernible] line results. So we do expect, as I make it to be free cash flow positive, which I think implicit in that EBITDA positive as we leave the year. But say that our year-to-date performance would [Indiscernible] probably not finish the year with a net positive result.
Min Cho: And then just one final question. I believe you had a large DoD contract for your Pure Motion product, and it was awaiting funding. Any update on that? Or any just update on some of your newer kind of I guess, more value-add products?
Mike Jenkins: Pure Motion, the project that you referenced is still live. It is still — but it’s basically on a hold status right now with the DoD. So we do expect that, that project will at some point move forward, but we don’t have timing at this point in time.
Operator: [Operator Instructions] Our next question comes from the line of Andrew Shapiro from Lawndale Capital Management. Your line is open.
Andrew Shapiro: Just trying to get drill down into this maintenance contract stuff and the losses. When you define a contract as a legacy contract, what do you mean? And when was State Light acquired?
Per Brodin: By legacy contract, we mean it was something that was an existing customer of State Light when they were acquired. We acquired State Light effective January 1, 2023.
Andrew Shapiro: So fairly recent and all that. Now — [Multiple Speakers] okay? And these contracts I think you said in the last call when I asked questions, we’re around 3 years or so in duration. So I guess that may be medium term to long term for this kind of business. What are you doing differently in your new maintenance contract bidding to share I guess, we’ll call it margin risk or to mitigate this risk? Is it just that you’re pricing it higher and hoping that you won’t have another wave of inflation are you doing with a shorter duration on the pricing? How are you approaching it differently?
