Eyal Harari: Sorry, can you repeat the question, it was hard to hear you.
Charles Elliott: I’m sorry. Is this better? Can you hear me better now?
Eyal Harari: Yes.
Charles Elliott: Executive role or non-executive or something like an active Chairman.
Eyal Harari: I’m going to be supporting the company and guys in this transition for the next period of time, making sure RADCOM is going to be successful. And in parallel, I will later share my clients on what I am going to do next. But no, I’m not going to stay as a Chairman or in the Board of RADCOM.
Charles Elliott: Thank you. A few more questions. With your balance sheet so full of cash and the company now generating free cash flow, is it a prospect that you — that RADCOM returns some free cash flow, returns more to investors through buybacks or through a dividend decrease. Or do you want to conserve your cash to get revenues well above $100 million in a few years and grow further from there?
Eyal Harari: So it’s more of the second. We still believe that while we are generating cash and profitable and we generate over $20 million in the last two to three years, these allow us to have a very good position in the market, first and foremost with our customers that we are — it allows us to engage and take more risk in terms of seeing how we can increase our market share. We did our first M&A last year, and we believe there might be opportunities to further increase our strategic position in the market. And we want to make sure that we have this opportunity. And the auction of dividends or buybacks is something being discussed, but we believe that in the current stage, there is a better use with looking on keeping our strategic position and keeping the options for additional M&As that will allow us further growth.
Charles Elliott: Thank you. And one final question. You mentioned Vodafone. Did it come through your acquisition of Continual? Or was this a kind of greenfield new customer win? And should we look at this as a similar size to some of your big customers now like Rakuten or AT&T even? Or is it significantly smaller at the moment?
Eyal Harari: At the moment, it is a significant smaller. It is a customer [Technical Difficulty] inherent with the M&A of Continual. Vodafone was the key customer for Continual. One of the values we saw by partnering Continual and create this great synergy. We believe that with the power of RADCOM, the retail product set between us and the wider portfolio, we can further expand with more value. We are working today with Vodafone as a certified vendor. We are — it allow us to have better visibility to the requirements and needs. And we are working with a few countries, but Vodafone is a large enterprise with many operations around Europe mainly and out of Europe. And we believe that with the RADCOM power and technology, we can further expand both with the original Continual product line as well as the RADCOM ACE and its technologies.
So it can definitely, it can scale into a size of Rakuten or even AT&T as Vodafone as an enterprise is very large. But at this stage, we have initial activity with them, but I believe this relationship could further grow in the near future.
Charles Elliott: That’s great. Thank you.
Eyal Harari: Thank you very much.
Operator: This concludes the RADCOM Ltd. fourth quarter and full year 2023 results conference call. Thank you for your participation. You may go ahead and disconnect.
