And as a result of that, we have a pretty strong, very strong backlog. So frontbook is getting replenished. We are also implementing a lot of customers, which you also saw that during pandemic we were somewhat affected, but now we are seeing that we are back to normalcy. So I wouldn’t think that there is any, that this is like a short term success we are seeing. What we are seeing is return to our long-term trends, which we used to see prior to going public as well as, and frankly prior to the pandemic. And now we are back to what we expect to be normal cadence here. And in terms of your other question, what two or three things we have done, I would say we have been very focused on making sure that we are able to get in front of as many customers as we can, sign as many partnerships as we can, but that’s on the front side and then on the back end, implement as many customers as we can and make sure that we listen and learn and understand what the post pandemic world looks like and how do we need to adjust ourselves and our processes and our toolkits to make sure we can onboard the customers as well.
And basically being very, very focused on making sure that the financial execution of the business from top-line growth as well as the bottom line improving of the operating leverage, we are able to continue to do that very successfully. So that’s what has been the focus.
Andrew Bauch: No, it’s very well put. And so you threw the AI teaser in your prepared remarks, so I’ll bite. What kind of efficiencies, you know, are you anticipating, albeit you said in the out years that can come from your AI investments? And I think that patent really does kind of show that testament.
Dushyant Sharma: No. Thank you. Thank you, Andrew. We haven’t actually, I mean, is it still nascent? The patent was just awarded like weeks, a few weeks ago, publicly issued. So we plan to integrate those capabilities in our system. The reason we were trying to bring this out was if you’re an investor in the business or thinking about investing in our business, you are looking at first of all, what is behind the current financial performance and what’s behind what’s the long-term prospects of the business, what the strategy looks like for the business. And we just wanted to explain that despite the difficult macro the company was dealing with and the whole world was dealing with payment, us was still strategically executing and thinking through what are the different challenges and risks we see, and implementation and integrations was one of them.
And then we were focused on how do we convert that into a great opportunity for us. And that is AI is one of the key factors there. So we believe that you will continue to see improving implementation performance from the company and AI will be part of it.
Operator: Our next question comes from Zachary Gunn with the company FT partners. Zachary, your line is now open.
Zachary Gunn: My question, I guess my first question here is around the guide, last call you said you were in a position to achieve the top end of the guide without signing any new clients. So I guess with the new updated guide, can we assume that that top end is also achievable in no new clients? Or was that some of the 1Q outperformance driven by new clients? Just how to think about that. And then I just have a follow up.
Dushyant Sharma: So I would say short answer is yes. Our high end of the guidance still does not entail any revenue coming from any bookings happening in 2024. That said, I will also clarify that in Q1, the increased revenues we saw were from implementations which were anyway scheduled to happen in this year, but in the later part of the year they just happened earlier. So we picked up additional revenue. Hence we were comfortable raising the guidance for the year because we have already achieved that in Q1. And then we also increased the guidance little more than what we exceeded in Q1.
Zachary Gunn: Got it. Okay. Yes, that makes sense. And then just on the contribution, profit, dollars per transaction. I know the revenue per transaction was asked earlier, but I know it came up year-over-year, but it did step down a bit q over Q and just looking at one q of last year, it was the trial in terms of contribution profit per transaction. So is it fair to think about this quarter as the low watermark and then see that step up through the rest of the year? Thanks.
Dushyant Sharma: Well, exactly. I would say that forecasting revenue per transaction or contribution profit per transaction for outer quarters is not really the most effective way to understand our business. And we don’t do. We learned the same way and hence I am sharing this experience because we now see contribution profit or revenue per transaction, anything per transaction is more of a byproduct of the business rather than a driving strategy for us because we are getting so many pillars from, from small size to large size to mega size. I would say that it just becomes hard to put them all into the same framework of per transaction. Yes, it’s a great metric to look at, and I agree that’s the right way on a high level to analyze the business.
