Yoav Zeif: So let me start with a few sentences about FDM and why it’s important in the big scheme of Stratasys and then I’ll let Eitan share the specific data. So, we call it FDM 2.0, why because FDM is critical for our success going forward. We are going to manufacturing and FDM is manufacturing. And we focus FDM this year only on additive manufacturing with our technologies, we restructure these. We moved from, I know when I started, we had eight sites to three sites, very large size with scale, very productive based on our technologies, the SAF, the FDM, the Origin, the PolyJet for manufacturing solutions and also Stereolithography investment casting real manufacturer. So that’s the idea. And once you have a strategy, we decided to divest the others that are not meeting the strategy, which is mainly the [indiscernible] business that we have in California and laser metal that we have in Austin, and this is part of the overall commitment of Stratasys to profitability.
We are the only public company, the only profitable public OEM Company with positive cash flow and we keep doing this. We’ll keep improving the quality of the business and to deliver on our focused as we did for the last 12 quarters. So we are very strong, but we are strong because we are doing those step-by-step, disciplined steps to improve the quality of the business. And I let Eitan share the data.
Eitan Zamir: Sure. So, Jacob, I guess, as we mentioned, the impact of those two divestment. First of all, only one of them impacted the Q3 results. And that was roughly $1.5 million impact on the revenue in the quarter. We expect the impact on 2023 of the divestment of the two businesses to be roughly $5 million on revenue. As you mentioned those two businesses and were loss making and negatively impacted our total profitability. So we expect that the investment of those two businesses will have positive impact both on our gross margins and our bottom line, but we won’t get into the specific details. I would just say that, with the numbers that you see for 2024 and will also be on — on Q4, on gross margins and the other aspects also a benefit or enjoy the — those two divestments. That’s one of the pillar.
Jacob Stephan: Okay, that’s helpful. And then maybe just kind of on the strategic alternatives is — I guess what’s — what’s the timeline here, when do you kind of expected things to be, I guess, wrapped up?
Yoav Zeif: So, you know that we can’t comment. It’s at the Board level, but I can just share the frame in a sense. We announced it [indiscernible] we are in process of strategic alternative. This process started, we have, we are engaging. We have good interaction. We are engaging and we are doing the best for our shareholders and we are taking the time to do it. There is another war in Israel, and still we are doing the best to make sure that we are there and we are enhancing the shareholder value through this process.
Jacob Stephan: Okay, understood. That’s all I had. Thanks, guys.
Yoav Zeif: Thank you.
Operator: Thank you. We’ve reached end of our question-and-answer session. I’d like to turn the floor back over for any further or closing comments.
Yoav Zeif: So I would like to thank you for joining. I would like to thank our team for an amazing work and for really maintaining the business and doing much better than anyone else in this industry. So I want to thank the Stratasys team, and I’m looking forward to updating you again next quarter. Thank you.
Operator: Thank you. That does conclude today’s teleconference and webcast. You may disconnect your line at this time and have a wonderful day. We thank you for your participation today.
