Mary Powell: Yes. So as I mentioned, I mean when we look at California, and we look at what’s happening outside California, again I think we hit that pretty hard. We’re seeing really significant growth outside California. And we’re seeing volume in California, and we’re seeing it uptick, and we see that California is actually massively underpenetrated, particularly when you think about the opportunity to again bring multiple products to California customers. So again, we guided, we’re rock solid on our 10% to 15% guide that we gave for this year. And we don’t see any reason to believe that, again — consumer interest is very active for what we’re selling, and we continue to see again tremendous opportunity in California and the rest of the country looking forward.
Operator: Your next question is coming from Jordan Levy from Truist Securities.
Jordan Levy: You start to kind of strength in the affiliate channel and that…
Operator: Pardon me, Jordan, I cannot hear you. Would you mind raising your volume? Speaking through the microphone?
Jordan Levy: Can you hear me?
Operator: Yes.
Jordan Levy: Just wanted to get your thoughts. You pointed out the affiliate channel as kind of a key outperformer for install and you also mentioned the changes you made in Arizona. I just wanted to get your updated thoughts as to any further opportunities there to lean more heavily on the affiliate channel and some of the trends you’re seeing in that market?
Paul Dickson: Yes, I think we see a lot of opportunities for the affiliate business. We’ve got phenomenal partners that create and generate 25% to 30% of our business. And as I stated earlier, we see strong demand for partners to join our platform and are constantly working on adding partners to that platform who meet our criteria around customer experience and installation quality. But it’s a piece of our business that we have long since held and are very excited about continuing to focus on and grow.
Jordan Levy: And was that kind of one of the key drivers behind the sequential decrease in sales and marketing per customer?
Paul Dickson: Yes. So in our affiliate business, the sales cost is recognized outside of CAC as far as the installation cost, but neutralize for that kind of a one-time event, which caused the steeper decline this quarter. As previously referenced, we’ve seen 6 sequential quarters of CAC over subscriber value declining.
Operator: Next question is coming from Ameet Thakkar from BMO Capital Markets.
Ameet Thakkar: Just coming back to the $200 million to $500 million kind of cash generation, appreciating that it will come in kind of different times in forms and fashion. But is all of that cash going to be available to you kind of unencumbered? Or will there be kind of cash traps associated with that, et cetera?
Danny Abajian: Yes. We view that as the kind of the nonrestricted amount of cash, so we do have a growing restricted balance as we reserve in our project finance deals. But we weren’t thinking about that cash, really the nonrestricted as you called it, the unencumbered amount.
Ameet Thakkar: Okay. And then just real quick. You guys have mentioned a couple of times about other states and regions that have kind of accelerated in terms of kind of your sales through there. I was wondering if you could kind of share which states have kind of been most impactful relative to prior periods?
Paul Dickson: Yes, sorry, can you repeat that question? Are you asking which states are we seeing strong growth in or future growth states that we’re not operating in?
Ameet Thakkar: Which states are you seeing strong growth in now?
Paul Dickson: Yes. So outside of California, we’ve seen that 25% blended growth. Our Northeastern states are weeding out, pulling those averages up. So we have really robust activities in Massachusetts and Illinois specifically.
Operator: Thank you. That concludes the time we have allocated for Q&A. You may now disconnect. We do thank you for your participation today.
