Xavier Casanova: Yes. So we’re expecting margins to improve as the need for humans is less and less. And there’s 2 levels of margin improvement One is the efficient allocation of those human resources, right? You want to be efficient in using labor that is not too expensive, but also allocating resources properly across a wide range of stores. That’s one. And then the second one is you want to use the AI to take more and more orders autonomously and then, over time, and I think we calculate this internally something that we’ll achieve within the next 2 years. Over time, reach traditional gross margins that you expect from a company in our space.
Brian Dobson: And then do you think you could give us an update on client renewals within the Touch business, and how you feel about that unit as you’re heading into year-end, your lender agreement?
Xavier Casanova: Yes. So as you probably saw from our previous filings, we have 3 main customers on the Touch side. One of them, the contract ends on December 31 of this year, 2023, calendar 2023. This customer has asked for an extension until the end of March of 2024. Then we have another client whose contract is coming for renewal at the end of February of 2024 calendar. And then finally, a third client that’s also extended until June of 2024. We have a pilot for our Flex hardware for that last client. We also have a — like I said, 2 or 3 clients that have already asked for extensions. For us, the important thing right now is to focus on Voice, focus the company on Voice. And really decide how to — what path to take to maximize shareholders value on the Touch side.
And so we’re considering a number of options. We still have not adopted a specific alternative. What we know is that 2024 is going to be the year of Presto Voice, and that’s really how we’re thinking about resource allocation at this time.
Brian Dobson: Right. Your agreement with Metropolitan Partners will require you to wind down that business if you don’t get all 3 of them to renew by the end of the year, right?
Krishna Gupta: Yes. So if I can just jump in for a second there. I mean I think our agreement with Metropolitan requires us to have a plan to sort of address the Touch business. I think everyone understands that the limited resources at the company, we need to make some choices and invest in Voice. But I think we are ultra-focused, and I think Metropolitan is in agreement here that we want to maximize value for shareholders. And there’s a lot of different paths of doing that. We have a great product in Flex. So we have a product that I’ve spent a lot of time talking to customers with that really want the product. And so how can we sort of enable that value proposition to flourish in a way that maximizes shareholder value without distracting us or taking away resources from Presto Voice, is a question of strategy and corporate finance.
And it’s something that we’re walking through and working through right now. But it is a sort of joint sort of strategy that we’ve developed with the Board as well as with Metropolitan.
Brian Dobson: Yes, very good. And how long will you have to develop that plan if that third client doesn’t renew by year-end?
Krishna Gupta: I think we are — I believe there’s no time like the present. We have very high conviction in what we need to do, both at Voice and at Touch, and we are in the process of executing against that, and I’m sure you’ll hear more from us soon.
Operator: [Operator Instructions] I’m showing no further questions in the queue. I would now like to turn the call back over to [Gi] for closing remarks.
Unidentified Company Representative: Thank you very much. So that concludes the Presto Automation Fiscal First Quarter 2024 Earnings Conference Call. Thank you all for your participation, and we would encourage you to please do refer to our latest press release for further details. Many thanks and good evening.
Operator: Ladies and gentlemen, this concludes today’s conference call. Thank you for your participation. You may now disconnect.
