And we have seen a ton of really great initial progress on this. We mentioned early traction with Gemini released just this quarter. We already have over 10 deployments with that software. It sped the time to market for the customer set that we are selling into, really opened up new opportunities in crowd analytics, security and traffic, because we are selling to a customer that may not know about lidar specifically but wants to have an end capability. And then BlueCity has been in the market actually for a couple of years now and announced that they had done over 100 deployments in 2022 alone. And so we are combining €“ we now have a significant team devoted to these efforts and I see huge synergies as a result of the summit and the combined roadmap that came out of the summit that we held just last month.
Colin Rusch: Okay, that’s super helpful. And just shifting away from the synergies that you guys are seeing from the organization to potential optimization of the balance sheet, can you talk a little bit about what you can do to lower the cost of capital overall for the organization and extend the runway given the scope and scale of the ambition for the combined entity?
Mark Weinswig: Yes. As we talked about before, obviously, we entered the year with a combined $315 million. As you mentioned, we are really focused on the cost synergies that we can take out of the business and making sure we can take those out as quickly as possible. We are very pleased with the $50 million of annualized cost savings that we have taken out entering into the second quarter. For us, investment in new programs and new technologies is key. It’s one of the reasons why Ouster has been so successful. The $70 million of bookings that we have as an organization that we got in 2022 is right from that investment. And so the lidar space is just starting off. These deployments that we are doing right now, while we are very excited about it, these are just the beginning and there will be additional investment that’s needed.
At the same time, we are putting together our business plan to make sure that we have the right operation structure or margin structure so that we can do what we can to get to a place where we feel that this is a truly successful business. And it’s going to take some time, it’s going to take a lot of work, but we are very excited about the opportunity. And the merger really helped us in terms of putting together these two organizations, giving us additional scale and then allowing us to realign the overall cost structure.
Colin Rusch: Okay. I will take the rest of it offline. I have got some more detailed questions. Thanks, guys.
Angus Pacala: Thanks, Colin.
Operator: And Mr. Pacala, it appears we have no further questions today. I will turn the conference back to you.
Angus Pacala: Alright. Well, I just €“ I wanted to end by thanking all of our employees actually for a very strong 2022 and for putting in the work that positions Ouster for another incredible year in 2023. And I’d also like to thank everyone for attending the call today and for the questions asked.
Operator: Thank you. Ladies and gentlemen, that will conclude Ouster’s fourth quarter 2022 earnings conference call. Again, I’d like to thank you all so much for joining us and wish you all a great remainder of your day. Goodbye.
