Mark Livingston: And just adding to that, that will progress as the year goes on. You may remember that we — and if you go back and look at 2022, there were some step increases throughout the year as some of those newer clients launched and some of the upsells launched as we went through 2022. So your Q1 comp will be maybe a little bit stronger than it will be as the year goes on.
Scott Schoenhaus: That’s very, very helpful. My follow-up question is on utilization. You’re seeing stable and even a slight uptick from last quarter on utilization. Can you provide any color on how much of these new larger clients are pressuring utilization? Meaning what’s the more mature rates on your legacy clients? What do they tend to be at? And then are you seeing any difference in utilization rates with different client cohorts? For example, are your more tech-based clients having higher rates, utilization rates in your newer and more industrial clients? Or do they run pretty on par with each other?
Peter Anevski: I’ll start with the second part first. Utilization rates do vary. It’s not really industry specific but it is industry specific only to the extent that the average age of employees in certain industries are younger versus older, if you will. And so you have a larger portion of your population that’s in childbearing years. Think of it that way. So yes, tech tends to run at a higher utilization rate versus, for example, manufacturing. And other than that, though, that’s the biggest driver. Other demographics affect it but that’s the biggest driver relative to the difference in utilization rates. When you talk about sort of mature versus pressure, if you will, yes, the first year of utilization is the floor, if you will, relative to a cohort in terms of new client adds.
And then as the years progress, utilization rates for that cohort generally will either be flat to slightly up each year. And that’s been the behavior but it’s not creating sort of an outsized depression, if you will. I forgot the words you used but drag, if you want utilization because at this point, we’re now up to 5.4 million lives, if you will, expected for 2023 off of what we exited the year with all the — as Mark said, almost 2 dozen clients that started early. I think we were at roughly 4 points. What was it 12/31?
Mark Livingston: 4.6 million.
Peter Anevski: 4.6 million lives exiting the year, 4.5, 5 something, I forgot what the exact number was but rounds up to 4.6 million. The point is simply at the end of the day, that’s going to be less and less of an impact in terms of any sort of drag on utilization as we continue to get bigger and bigger versus the new cohorts being added.
Operator: The next question is coming from Stephanie Davis with SVB Securities.
Stephanie Davis: So it’s early but you guys did talk about the record pipeline. I was hoping to prod a little bit there. Should we think of the past 2 years, record selling season is like this count consumer demand and companies buying a fertility benefits in a tight labor market. Or do you think this is a bar that you can keep continuously beating just as market demand does persist and you’re finding new sets of folks that you could actually have the benefit appeal to.
Peter Anevski: Well, thanks for the comment, by the way. The way I think about it is this, right, — when we look at our active pipeline and when our active pipeline is up versus this time last year, that alone, combined with early wins that we talked about across industries, et cetera. Our expectation continues to be, as it’s been in the past for us to exceed prior sales years in terms of sales performance. And this year, we don’t expect to be any different, right? So although the last 2 years were good, that doesn’t mean that we think that, that’s somehow a record and not achievable in the future. In fact, it’s the opposite. We think the addressable market and the unmet need is still so big that we expect to continue to have these levels of success for the foreseeable future.
