And so that was a benefit for our providers, and so we could share some of the pain there in terms of increased pricing. But we’ve also had some surcharges on our products in terms of freight. And although, as I said in the prep remarks, we’ve seen all the news media that freight costs are all down. Well, yes, okay, they are on a spot price, but 12 months ago or nine months ago, as that works through our inventory, that freight charge is still there and is still impacting our costs. And inflation, although coming down is still high. But I think our commercial teams have done a really good job of partnering up with our customers, walking them through the situation, the reality that costs are up, inflation’s up, freights up, inventory costs are up.
We need to work on appropriate pricing to make that happen. And we’ve had some appreciation in average selling price over these last 12 months. And we’ll look to do over the next 12 months to do an appropriate pricing with customers on a per customer per contract basis to sort of share some of the pain of the increased cost that our industry is having. But at the same time, we’re laser-focused on driving that growth. And so it’s a really strong sort of price elasticity, it’s a question of how do we make sure we get that balance right? But it’s a competitive game. Some of our competitors are out there saying the same thing publicly, that costs are up. And so we need to move prices appropriately. And we are out there working with customers to make sure that we as an industry take care of patients in a sustainable economic way, and that that involves both quantity, price, and supply over the long-term.
Operator: Thank you. Next question is coming from Lyanne Harrison from Bank of America. Your line is now live.
Lyanne Harrison: Yes. Good morning, Mick. Can I ask a question about outlook? So through the earlier — early quarters you mentioned that we were going to see sequential revenue growth through 2023, and we have seen that, and that’s been fabulous. But with your competitor — key competitor out of the market, do you still expect to grow revenue sequentially into first quarter, second quarter 2024 or for however long as they remain out of the market?
Mick Farrell: Yes. So great question, Lyanne. And yes, 12 months ago, when it was pretty clear that we had a strong runway there on the devices side, and we — it was really, we were constrained by our own production. I was able to very strongly say, look, I am confident that our supply chain team has got access to this re-engineering, redesign, and redeployment of key components, particularly electronic components, particularly semiconductors. And we did that and we grew device revenue every quarter throughout fiscal year 2023, as you noted. I was really excited with the team on that. As we look forward to fiscal year 2024, we don’t give guidance really on the top-line. Brett’s given some really solid guidance on our SG&A, our R&D, our effective tax rate and how we’re looking in those parts of the business that are very controllable.
As I said in some of the earlier questions, Lyanne, there’s so many moving factors in overall demand in the market. But look, I’m confident because new patients continue to come into the funnel, right? That’s happening across the world, and it’s not happening randomly. We’re driving demand gen programs; we’re driving them in Australia, New Zealand with our Awaken Your Best campaign. We’re driving them through our German teams, our India teams, social media programs in our China team, this really strong social media demand gen. And so we’re getting new patients in the funnel. And there was a lot of patients who couldn’t get a replenishment device when their device hit three years or five years or whatever time their insurance allows, or they as a consumer decide that they want to get to the next-gen product.
