Kevin Barry: Yeah. I think maybe on your first question about the OpEx, I think, what I’d say is for Q4, we typically see better leverage on our OpEx than we do earlier in the year and I expect that trend to continue. So, basically, to say it another way, I’d expect our OpEx percent of sales to decrease from where we were back here in Q3 into Q4, similar to what it did last year. And then, I’m sorry, I was thinking about your first question, Jason, was the second question on companion.
Don Zurbay: Yeah. Yeah. And I think, Jason, so we’re not, again, trying to be pretty helpful for you as much as possible. But I think, as we get into this, we’re still working through our budgets for fiscal 2025 and kind of the dynamics that we think will play into that. So we’ll probably try to stay a bit disciplined and that’s a great question as we get into next quarter’s call and talk through the budget for the year.
Jason Bednar: Okay. Fair enough. Thank you.
Operator: Your next question comes from Jeff Johnson with Baird. Please go ahead.
Jeff Johnson: Hi, guys. I joined late in all disclosure here, so I apologize if any of this has been asked. But, Don, I joined as you were answering, I think, it was Jon Block’s question, just on kind of the share pickup or growth points you seemed to point to from some disruption from one of your competitors here in the last few months. I couldn’t tell in your answer if you thought those two points were sustainable or if you’d probably get that back and go back to that 5% number you alluded to kind of in the prior quarter. So, one, just if you could clarify that. More importantly, when I look at the consumables market in North America, I don’t think it’s growing 5%. I mean, it seems like there’s a little value seepage from kind of premium branded down to lower price branded or private-label and I’m sure you guys are in that trade down that’s happening.
And I think on, volumes, I don’t think are growing more than probably low-single digits at the very best. So where are you getting that 5%? We’ve heard that some of the online discounters have been stagnant, if not maybe even losing share the last couple of years. Is it coming from some of the value added competitors? Just where do you think at 5% you’re getting kind of what I think is probably a couple of few points above market growth over these last four or five, six quarters? Thanks.
Don Zurbay: Yeah. Thanks, Jeff, and too bad you missed all the prepared comments. It’s all brilliant. But I think the 5%, when we look at this, it really is across the Board. I mean, I think, I know that sounds a bit like a pat answer. But when we look through it, I would say, that’s the best way I can explain it to you. There’s not a specific area that I would point to that says, here’s where we’re doing so much better than anywhere else. I think it’s just been across the Board. And so, to us, that feels good. I think we feel like our value proposition here in our process there is working. On the sustainability of the 2%, we try to take a disciplined approach, as I mentioned, to this and work with share that we thought could be sustainable for us.
So I think that particular piece of it, we have optimism about our ability to keep it. As it relates to the sustainability of a 7% growth rate, I won’t necessarily comment on that. I mean, it’s a very competitive market. We like the trend here and it’s a trend over a longer period of time. So I think it’s showing up as not just a one-time situation, but I wouldn’t necessarily assume that we can keep up at 7% going forward.
Jeff Johnson: Well, and then, I guess, just the follow-up question, and again, hopefully this wasn’t covered or I’m not asking you to repeat anything. But basic equipment, you have a little bit less exposure — some less exposure to DSOs maybe than some of your competitors. So I think you’re a good look at kind of what the private practice dentist is doing from an office remodel, office expansion standpoint in that. And we know prices settled out in basic equipment probably closer back down to flattish levels over the next 12 months relative to some elevated pricing in the past 12 months. So just where kind of is that volume growth on the basic equipment side in the private practice channel? Do you think there’s still expansions and remodeling going on? Do you expect that private — the basic equipment market to be closer to flattish, up or down a little? Just any color there would be helpful. Thank you.
Don Zurbay: Yeah. No. I think there’s definitely an opportunity here for sure in the private practice as well. It moderated in the quarter, but again, as we’ve mentioned before, three-month looks are hard. So we would probably want to look at it as we move forward at more, I wouldn’t say, historical norms, but you may want to look at the core equipment market over time here as you move forward as flat to slightly up.
Operator: Your next question comes from Allen Lutz with Bank of America. Please go ahead.
Allen Lutz: Good morning and thanks for taking the question. Dental patient traffic trends have been all over the place over the past six months or so. Can you speak to the trend that you observed during your fiscal 3Q and any comments on the January exit rate and what you’re seeing so far in February? Thanks.
Don Zurbay: Yeah. Well, I guess, I would say, from our perspective, I mean, I know there’s been some movement up and down to some extent, but I would say generally we view patient traffic as being pretty steady and favorable over the longer term here and that’s kind of our view in terms of what we think happens as we move forward.
