Korinne Wolfmeyer: Congrats on the quarter. So first, I’d like to touch on you — spend a lot of time overseas the past year, really understanding the market and preparing them for Syndeo. Can you just talk about what visibility you have into system placements in these international markets once you do launch in the second quarter? And I assume some of the partnerships you’ve developed will help here, but any color there would be helpful. And then secondly, just on marketing, can you just expand a bit on your ability to flex on marketing dollars that we do head into a tougher downturn or China goes back into lockdown? Can you just talk about your ability to be flexible with that marketing spend to maintain the margins?
Andrew Stanleick: Thanks for the question. Great to speak to you. So once again, I will kick off and then hand over to Liyuan for the second part of the question. I mean, clearly, despite the economic backdrop of last year, we’re extremely pleased with the way our international markets perform, particularly our direct markets. If you consider EMEA, plus 46% up for the year despite the war, despite the FX headwinds would have even more if we are factoring constant currency. APAC, despite China with zero COVID policy, we grew 24%. So clearly, we’re extremely excited to bring that Syndeo innovation during Q2. I think all the work we’ve done in the last two years, in ’21 and ’22, investing in that planned infrastructure build of teams, people, training, education center systems the manufacturing in China, I must say we’re really excited and cautiously optimistic about the year overseas.
And despite that, if we — we obviously expect a strong year in the U.S. where we have a booming medical spa channel. So it’s — we’re very cautiously optimistic about the year. Liyuan, why don’t you talk about the leads, which can flex if this doesn’t plan out?
Liyuan Woo: Yes. Absolutely. And then just to add on to even Andrew mentioned, I think there were a bit more of the recession’s peak when they come to the end of the year. But it’s just lessening to the team around the world, it seems that it turned to be a bit more positive. But again, we’re being cautious, and we’re going to continue to observe. Precisely as we shared before, Korinne, we’re sort of 50-50 split when it comes to fixed and variable. And even on the fixed side of the equation, it’s a lot of people cost. So to Andrew’s point, if the market shut down, that’s a lever you can’t still pull. When it comes to variable, it’s very much under our control. There are certain locked in terms of investment, but we can pull that lever quite flexible around the globe.
Operator: The next question is from Ashley Helgans of Jefferies.
Unidentified Analyst: It’s Blake on for Ashley. I might have missed it, but I was wondering if you could provide any commentary on your revenue contribution from Syndeo for new placements versus trade-ups throughout fiscal year 2023. Just was wondering how to think about that. If we could get any kind of commentary there. And then also just wondering if we could get an update on what are you seeing in terms of the health of your end consumer here in the U.S., and how that trended throughout the quarter.
Andrew Stanleick: Thank you, Blake. I’ll kick off with the second part of the question and then Liyuan handle the first part. I must say, while no business is totally recession or economic uncertain proof, we found that our consumer and our provider has been extremely resilient. And we’ve seen — as you’ve seen in our results, no slowdown in the demand for Hydrafacial. And as a proof point, you see that in our results. And I think there’s obviously a few factors behind that. I think, first of all, if you consider our channels, our products are extremely democratic place when compared to other aesthetic services in many of our customers. So we’re really active that gateway product for entering aesthetics. And we do a little bit, I think, of trade down from higher-priced products into Hydrafacial.
