Bea Ordonez: Sure. Thanks for the question. So look, revenue, we would expect over the course of 2023, that revenue will increase sequentially throughout the year, driven by our continued customer acquisition, grossing high value services, as John has indicated, even if we see the impact, as we noted in our prepared remarks, of that $15 million decrease in non-volume revenues beginning in the back half of the year, as you know, our business is seasonal, benefits from strong consumer and other spending in Q4. So we would expect to see that as well as the impact of peak travel season, which we generally see in Q3. But overall, from a revenue perspective, sequential increase throughout the year. From an adjusted EBITDA perspective, taking into account that revenue outlook, look, we’ll expect it roughly speaking, to be evenly distributed over the course of the year, because while revenue is expected to ramp up, we’ll also see the impact of our investments that will be a little more back loaded.
So those investments that we’ve discussed here today in our tech platform, in our compliance infrastructure they’ll be more back loaded and that will yield that kind of relatively flat EBITDA performance through the quarters.
Mayank Tandon: That’s helpful. Thank you so much.
Operator: The next question on the line comes from Trevor Williams of Jefferies. Please go ahead.
Trevor Williams: Great. Thanks. I just wanted to go back to the revenue guidance for a second. I got the interest income number of $180 million. Anything else you can share just on the level of volume growth you’re assuming? And then within that embedded volume assumption? Just how we should think of the underlying mix there impacting the core ex interest income take rate? Thanks.
Bea Ordonez: Sure. I’ll take that. So thanks for the question. Look, our guidance reflects our expectations given obviously the macro environment and the ongoing results that we’re seeing in our business and in terms of the different levers, look, as John has indicated, we’re going to see and we expect to see continued strong growth across key high growth, underpenetrated regions so take Latin America, SAMEN or an APAC and in online margin products or B2B and some of those other kind of high-value services. We do expect to see a normalization in volumes from certain of our large e-commerce marketplaces, we’re seeing roughly mid-single-digit volume growth from those e-commerce marketplaces. This is actually slightly better of a growth rate when compared to 2022, although that’s in large part because we were lapping in 2022, tough comps versus the prior year.
So look, again, that’s the inherent assumption in terms of the volume, marketplaces and other volume related from those channels are obviously uncertain in terms of the macro environment it’s considerable, as you all know, macro uncertainty embedded in that. But, look, overall excluding interest income and the impact of those known headwinds that we talked about related to non-volume fees and our exit from Russia. Our guidance implies roughly a mid-teens revenue gross profit for 2023.
Trevor Williams: Got it. Okay. And then on the B2B APAR piece. I know you’ve said roughly two-thirds of customers there are net new to Payoneer. Can you guys give us just a better sense for the geographies and types of customers you’ve seen the most traction with to date? And then I think the implied attach rate on existing customers is still implied very low. Just how you’re thinking about the potential or not to more aggressively cross-sell the B2B product into the existing customer base? Thanks.
