So, continuing to remain disciplined just given the uncertain road ahead. That said, I think in terms of capital prioritization, Taylor mentioned, international is very important. Like I said, I’m a very big believer this 3.0 evolution of the integrated games world. And rails are since really stiff. So, there’s opportunity to acquire rails and track the terms to help build out our — support our global expansion to ever. It’s going to be top of the list. But the other thing I’d say, too, is just the organic investment. I mentioned earlier, there are a lot of reasons why we continue to become more and more efficient. So, if we’re able to layer on that volume, keep headcount at endeavor to really keep it as flat as possible in Q4 and it turns out that the economic climate is not as some people fear, and there should be room for us to make some investments in some organic initiatives, whether internal systems or other things to better support our long-term profile.
Andrew Bauch: Got it. Thanks Jared and congrats on a really impressive year.
Operator: Thank you. Our final question comes from Rayna Kumar from UBS. Rayna, please go ahead.
Jared Isaacman: Rayna?
Anthony Cyganovich: Hey, sorry. This is Anthony Cyganovich filling in for Rayna. Thanks for taking the question. I know you commented on it a little bit before, but I was hoping you could kind of talk about kind of the drivers of the really strong EBITDA margin in the quarter. I know you mentioned the in-source distribution, but can you kind of help us better understand if there’s anything unusual to call out or kind of the sustainability of that?
Nancy Disman: Yes. Hi, it’s Nancy. I’ll take that first and anyone else can jump in here. But for sure, we’re incredibly confident about kind of sustaining that margin into 2023 as the guide indicate. I think there is the benefits we’ve already talked about, which is certainly the in-source distribution, the changing model for new vertical support and service delivery. The model and the diversification as the book moved. It’s just that service delivery model is more efficient than when we were supporting lots of small kind of high-growth core on merchants and clientele. So, that kind of overrides the flow-through and our discipline around you think about probably lose companies, headcount, compensation, things like that, being the biggest driver of SG&A.
When you look at our SG&A, trends, both on a reported basis and on an adjusted basis, very confident that those exit rates can be sustained going into 2023. And it really just comes from disciplined approach across the Board being implemented. This whole idea of defending the spend, really thinking about how every dollar is being allocated, that’s really the underlying focus of the company. And the new verticals that they go we’re really taking a kind of white-glove enterprise approach surge type models to get them delivered efficiently and onboarded as quickly as possible. And I think that flows through is what you’re seeing in Q4 and will continue into 2023 and beyond. So, just the leverage of every dollar at this point, it’s flowing through at a higher conversion rate.
And really, I just don’t want to repeat everything, Jared, it kind of just a kind of exiting Q4 will continue into 2023.
Anthony Cyganovich: Got it. That’s helpful. And just a quick follow-up. I was just wondering if you think there’s — the macro conditions are impacting restaurant demand for the SkyTab POS and how is it impacting demand for SaaS-based solutions or willingness to pay tax fee? Thank you.
