Blake Keating : Understood. I appreciate all the color. And then just lastly for me, so you guys talked about a couple of opportunities with the P3 systems and Origin with new materials and software. Can you update us on progress with Origin and those systems? At the time of the acquisition, you said you expected up to $200 million and incremental revenue within five years. Since you are a little over halfway, I was just wondering if you had an update on that progress. And then what markets are you seeing the most demand for those systems.
Yoav Zeif: Definitely the market for the Origin and the staff, which are arrowhead for manufacturing. The market, our industrial market, high end, high parts properties, very demanding, and that’s what we are doing. Both P3 and SAF are focusing at the iron market automotive, the aerospace and I am industrial, because no one can match the quality of the part that we have. We used the last two years to make them much more reliable. I can say that now they are meeting all Stratasys standards and are aligned with the standard of FDM, which we are very proud of. And now it’s all about material, because we want to open up new industrial application. So it’s the WeatherX, which is very unique in the market. You can put it outside in the sun, in the rain, it will work, and same with SAF, the P12.
It’s new materials like polypropylene in the future, where only SAF can do it, because of the thermal control that we have. So it’s a very simple strategy. We go for high end industrial. This is statistics, we go for the high end. We go with those technologies that we put a lot of energy and brain into the innovation of those systems and we do it with unique material.
Blake Keating : Got it. Thank you. I’ll pass it along.
Operator: Thank you. Next question is coming from Jacob Stephan from Lake Street. Your line is now live.
Jacob Stephan : Hey guys, thanks for taking my questions. Apologies if this has been asked already. I’m just jumping between calls this morning, but maybe you could talk about some of the bigger platform systems, the F3300, H350, and just kind of compare the sales cycles and also just kind of the demand pipeline of the Origin and kind of Neo Systems.
Yoav Zeif: Thank you Jacob for the question. No doubt the bigger the system, the longer the sales cycle, that’s an easy one. But also is where we shine in Stratasys, because this is our focus. What we promise and deliver to our customer is the reliability, the part property, the lower cost per part. And then we see nice, I would say nice, but a bit longer sales cycle that can – sales cycle in Stratasys can go from one month to practically five months or six months, and a large deal even a year. This is like with the government and others. But on average, the nice thing that we see since Q4, Q3, Q4 last year, that the second derivative of the sales cycle is better. So it’s flattening, and in some hardware and some type of product also shortening sales cycle.
F3300, I’m happy to share. It’s a bit easier because it’s disruptive and its created a lot of excitement in the market, because we are bringing something that doesn’t exist. We are bringing large format FDM with all the qualities of Stratasys, but double the speed and almost half the cost. It’s an expensive system, but the ROI is very short because of it. And there are new things that the customers can do that they couldn’t do with other machines. So, despite the fact that it’s a high cost, high price machine, we see better sales cycle, at least at the beginning.
Jacob Stephan : Got it. That’s helpful. And then maybe just one more, kind of vertical related. What are you seeing in kind of the aerospace market? It seems like there’s been a lot of investment and focus around this market, but maybe you could just kind of touch on your strategy there and also, what any progress that you’ve made.
Yoav Zeif: This is one of our top verticals. It’s nothing new here, and it’s one of our top verticals because of our quality and experience there and really unique knowledge and solutions that we are bringing. We also – we are the first one to introduce new materials into this area and to certify them together with certified bodies starting with the U.S. But the most important thing that we are delivering there, we have real success on the ground with the government, with Navair and with the Air Force and with NASA, and we have all advisory committee that few advisory committee, I mean customer advisory committee that leading figures from the industry are contributing what is really needed for them. So bottom line, aerospace, we have, I don’t want to say number one, but probably number one position there.
