Nabeel Ahmed: Yes, Shagun. So cash flow, look 2022 we delivered over $150 million of cash, and our expectation for 2023 is that we’ll burn less than that, and that’s really you know on the strength of higher revenue, expanded gross margins, lower growth in OpEx year-on-year, and then ï¬nally our working capital management. So hopefully, that’s helpful there. With respect to our term loan facilities, look we still have up to $200 million that we can draw down on. If we burn less cash year-on-year, you know we’re ending last year with just under $291 million of cash. We may not need to draw on the term loan and as we think about that line, we’re going to sort of look to optimize cash we have on the balance sheet and the cost of growing on that line, right, because that does not come cost free.
So that’s sort of what I’ll tell you there. And then look, we will always make sure over the long run that we are thoughtful about making sure that we have the capital we need to run our business and expand into these large end markets that we have. And so we’ll always evaluate what makes sense for our business.
Operator: Thank you. . One moment for our next question. And it comes from the line of Suraj Kalia with Oppenheimer. Please go ahead.
Suraj Kalia: Good afternoon, Leslie and Nabeel. Can you hear me all right?
Nabeel Ahmed: Yes.
Leslie Trigg: Yes.
Suraj Kalia: Perfect! So Leslie, one question for you and then one I’ll quickly throw in for Nabeel. So Leslie, the one for you, before the home hemo hold guide for FY ’22, was it approximately the same that is now for FY ’23? So I’m curious, in your commentary then and now there are similarities, but expand more and tell us what speciï¬cally has changed? So that’s for you. And Nabeel, if the math suggests, new home patients added in FY ’22, I was wondering if you could give us some additional color on the average number of treatments for patients at home setting? And also, there is a lot of commentary about crossovers from next stage, if you could shed some color on how many are de novo patients versus crossovers? Thank you for taking my questions.
Nabeel Ahmed: Yes, so Suraj, so with respect to our guide for ’23, I mean look our expectation is that our home €“ number one, we expect that both our acute and our home business will grow in ’23 relative to sort of their performance in ’22, right. We also said that home will grow faster than our acute business, and remember, this is off a bigger base, right. And so even if the contribution remains the same, there is still growth, significant growth implied in that statement, right? So absolutely, unequivocally, we are looking for our home business to grow in ’23, looking for both of our home and acute businesses to grow in ’23, that’s part one. Part two, with respect to the average transaction – sorry, average treatment in homes, we’ve always seen between three and four treatments per console in the home.
And that is just based on the physician’s prescription for that patient, and it depends Suraj, where we are getting home patients. They tend to be the de novo patients because you know, there are large numbers of newly sort of diagnosed ESRD patients who come in every year, and we’re still in relatively small numbers, all things considered.
Leslie Trigg: Well said. I can’t top that Nabeel. Well said on the home. Hopefully that answers your question Suraj.
Operator: Thank you. One moment for our next question please. And it comes from the line of Drew Ranieri with Morgan Stanley. Please proceed.
