Oren Livnat: Okay. And if I could just follow up on 2024, I know you’re not giving guidance today, and so I don’t expect any hard numbers. But can you just both help us understand just the push and pull. You mentioned expanded contracting, having a, I guess, a mid-single-digit impact projected. I guess, all else equal without lower extremity nerve block, adding on. Do you expect to see net growth in overall — in the balance of procedures versus price offsetting next year? And then, I guess, just when you talk about EBITDA and margins, are you committed to growing EBITDA, I guess, at a faster rate than sales next year? Or is it possible that the lower extremity nerve block investments in that launch could have, I guess, a short-term drag on profitability next year? Thanks.
Dave Stack: No, that’s a three-credit MBA, of course, that you just asked for. So a number of things. Let me start off with gross margin where we’re coming off a base, let’s just say, first quarter, right? Where first quarter of 2023, our gross margin was in the low 70s. We expect that, that will be materially improved over next year. And so we’re starting from a much better position. The impact of 340B will be relative to itself now relative to comparing 24 to 23. So we expect that, that impact it will be the same number, but on a comparison basis, it will be a better comp for us. The GPOs are in much less consequential to the bottom line than the 340B aspect of this is. And so it becomes then a question of how do we handle OpEx on a go-forward basis and coming up on no pain it is — it would be illogical for us to go aggressive at OpEx when we think that the grand opportunity of all time is right in front of us on 1,125.
So long ball to answer your question as a result of all the parts of this that I met you in the first question that you asked, we do expect that we will get tailwinds from not — well, you eliminated lower extremity nerve block that’s hard for me to do. I haven’t actually looked at what the year would look like if we didn’t get approval of lower extremity nerve block, which I guess is a statement of my confidence that we will get lower extremity nerve block in a couple of weeks. But I think as we said in the script, cocktails on material we expect to at least not to have a stable growth environment as the growth environment improves GPOs and 340B and TRICARE. So net-net, there should be an improvement and EBITDA next year, although it will likely be modest as we wait for no pain to come.
Oren Livnat: All right. Thanks so much for the color.
Dave Stack: Right. And I would say, Art, even if we look at through the quarter this year over the three quarters last year at the EPS line, it’s material. I mean, it’s a material improvement. And I think you’re starting to see some of these things come into play already.
Oren Livnat: And it will be remiss of me not to congratulate you on your announced retirement.
Dave Stack: So far, we see no evidence of that. But I’m looking forward to spending some time with a grand kid but actually do it some things. No, but I appreciate that. I mean it’s a bit bigger sweep. I mean, I love this place, but I’m going to be 73 in April and there’s something I can do about that. Thanks, Dan.
Oren Livnat: Take care.
Dave Stack: You too.
Operator: Thank you. I see no further questions at this time. So I would like to now turn it back to Dave Staff, Chairman, CEO
Dave Stack: Thanks, Therese, and thanks to all on the call for your questions and time today. We are excited about the opportunities that lie ahead of us. Throughout the balance of the year, we continue to build on our strong foundation to ensure we are well positioned for long-term success. The opioid epidemic continues to be a national crisis, underscoring the vital importance of our mission. Next up for us is JPMorgan and Miami, followed by Truist and Piper in New York. Thanks to you all, and stay well. Bye for now.
Operator: Thanks to everyone for your participation in today’s conference. This does conclude the program, and you may now disconnect.
