Doug Valenti: Yes, it’s a good question. We’ve only invested in that product because we do think it’s going to be very big for us. We think tens of millions of dollars is exactly what it ought to be and it could be bigger than that, particularly if you look at the side effects of it and the combination of it with other ways to service the channel. So, we think it’s many tens of millions of dollars in opportunity. We think it’s a market that’s over $100 million in the addressable market. over time, we don’t expect we’ll get 100% of that market. That’s why I say maybe tens of millions of dollars. But we do think we’re way ahead of anybody else in terms of the product and where you go with this product. it will ramp with a little bit of a lag to the overall market coming back because you have the market coming back and marketing spend and clients participating and then you have the agencies revving up because now they have participation in product and now they’re willing to invest in and work on projects like QRP, which allows them to be more efficient, more productive in the market than they would be — they can be without it.
. So, I think it will lag, but we clearly see a ramp. We expect quite a significant ramp this year to — when I say this year, I mean the remainder of this calendar year and next fiscal year, we would expect to ramp back up. We’re already running at seven figures, but low we would expect that to be mid to high seven figures certainly next fiscal year and the fiscal year after that. I’m hoping that we can get well beyond that and start reaching for the eight-figure number. So, it’s meaningful and that revenue is very, very high to contributing, right? It’s not a normal 30%. Incremental revenue in QRP is generally going to be about 80% to 85% as you get to just a little bit more scale. So, we think it’s highly accretive big market opportunity.
We don’t — we haven’t — we’ll probably have an Investor Day here in the next — as long as the Insurance ramp keeps going like we expect it to, I would expect we’ll have an Investor Day in the next six to 12 months where we will get in more detail about QRP and where we are with that, we’ll introduce maybe a couple of the big client programs that we now have running by the way, either one of which could be well into the seven figures and beyond all of themselves. So, these are signed contracts, signed clients. So, we’re — we like it a lot. It’s still coming. It was certainly delayed by everything else that was delayed in auto insurance, but we have seen a lot of resurgence of activity and have had a lot of success with big signings recently that are in the launch and ramp stages over the next few months, and we’ll be talking more and more about it as we move ahead.
And we’ll start breaking it out at some point in the future, I imagine, but we’re going to get back on our feet and start trotting again with it before we do that.
Jason Kreyer: Got it. Thanks for all the color Doug. I appreciate it.
Doug Valenti: Thank you, Jason.
Operator: Your next question comes from Chris Sakai of Singular Research. Your line is already open.
Chris Sakai: Hi, good afternoon Doug and Greg. Just a question on Q4. It seems like a lot of growth is being put on to Q4. What are the chances do you see auto insurance not ramping as fast as you want to get to this Q4 — these Q4 numbers?
Doug Valenti: I’d say that we have that in the range, Chris. I think we have — we said 5% to 15% for the year covers a lot of territory at our scale. So, we would — we think there’s — certainly means we think there’s a chance we won’t get to the high end. I think there’s a chance we will do better than the low end, but we’re — we like to ramp, as I said earlier, this quarter over last quarter, we’re representing about a $45 million ramp over — in terms of sequential growth. The bottom end of the range, I think beyond that represents another $20-ish million or so depending on where we land in the range $20 million to $25 million, I guess, been where we land in the range on top of that sequentially. So, we’re not — we’re actually reflecting at the bottom end of the range, a slowing of the sequential ramp.
But even though we’re seeing right now an acceleration of the ramp in auto insurance. So, again, as I said earlier, I think the — we still think we’re going to end up in that range. The exact point where we end up in that range is going to be pretty dependent on the slope of the auto insurance re-ramp. And while it’s deep, it’s hard for us to predict precisely the slope and so that’s really kind of reflected in what you’re seeing. But I’d say that’s how I would characterize it. And again, it’s mostly driven by the auto insurance ramp. But of course, we’ve still got a lot of great initiatives and growth and momentum in Home Services, which is the $200-and-something million in your business and first loan, which is a $100-and-something-million business and credit cards as we see more promotions in the market is likely to benefit from those.
So, the footprint all in all, but again, I’d say that where we end up in the ramp is going to be dependent mostly on exactly how that — what that slope looks like without insurance. But we don’t think the top end is crazy. We don’t think — and we think the bottom end is something we’re pretty comfortable with.
Chris Sakai: Do you — in a strategic way, do you — have you thought about trying to diversify away from this auto insurance these swings in auto insurance?
Doug Valenti: No, I mean we will diversify — we have diversified, right? We have — beginning of this auto insurance cycle, I don’t think I don’t know, home services, Greg, is it more than doubled through this period.
