George Sutton: Thank you. And Bart congrats on the good results. So relative to what you were referring to with respect to an international opportunity with QSR brands. I’m just curious if you were referring to new logos, are you referring to the same logo as your domestic expected rollout later this year?
Bart Shuldman: Oh, yes. So our QSR is our global, so every QSR that are big customer work, big customers of ours are global. So we work with them both domestically and then in not across the whole world but in certain markets that they accepted our products. So again, these are global QSR.
George Sutton: Relative to the supply chain issues at your casino printer competitor, can you give us any update of what you’re hearing in the market relative to their issues?
Bart Shuldman: I remember your, I loves your analysts report a picture tells 1,000 printers right. I think that was your report. It was fabulous. Look, I don’t want to talk about our competitor. What’s — what we’re grappling with is the demand it’s kind of — it’s almost a perfect storm in a way but a perfect blooming flower. We’ve got a casino market that’s come back after a very, very difficult time. Remember, casinos never closed, and they closed in 2020 and 2021. So they’re back, it’s very crowded, I just got back from Vegas last week, still very crowded, they’re buying slot machines, which is great for us. But at the same time, we’re the, basically the only printer supplier. So you we are grappling with that challenge.
I did do a shout out to my sales team, both inside sales and outside sales when slot machine manufacturers who are also trying to grow their business can’t get product, they get angry and not happy. And when they found out we had products it was great that they came to us. But we had to manage their expectations. Clearly, we were sold out in the fourth quarter. So I give a shout out to my sales team, my inside team Tracy running worldwide gaming that they manage the customers’ expectations, and we kept them happy during what was a sprint for us. If you know that the term sprint in the software world to get all this done and be able to ramp up production the way we did. These parts shortages are real, and they’re still out there. I give a shout out to our suppliers, one in particular, that worked with us on the chip.
And by deciding to use the same chip across all of our platforms. They said if we would do that, they would respond in kind, and I do a shout out to them to thank them. And my engineers that said, okay, I’ll make this chip work across all of our product lines. So it was a great effort. And from what we see right now the demand continues. And we just got to stay on top of it, we’ve got to stay close to it. And we’ve got to understand our customers’ expectations because the good news is we have printers, but the bad news is we have the printers and we’ve got to maintain those relationships as we supply those printers to the marketplace.
George Sutton: Understand. One of the things, Steve, I’m wondering if you could look at Q4 and then the full year €˜23 guide and break it down into volume versus price for us given that you’ve raised prices. I’m just curious how much of a component price is?
Steve DeMartino : You mean, how much did the revenue go up because of each of those, George?
George Sutton: Correct.
Steve DeMartino : It really is a combination, we’re not going to break out specifically what it was. But it was a combination of the two, obviously volume was up but price also contributed as well.
Bart Shuldman: In 2022, in 2023, it’s all volume, the price increase, we haven’t raised price in 2023. So it’s all volume, the pricing, last price increase we put through was September of 2022. So the growth of 2023 will be I mean, there’ll be compared to the first quarter of pricing is up, but also our costs are up. So you can’t just look at that, right? Our operating costs are up because of wage inflation and all that. So it’s really volume, George. I mean, the volume is up.
George Sutton: Got it.
Steve DeMartino : Some due to the price though too because of the full year effect of the price increases, but Bart is right.
George Sutton: Year-over-year.
Steve DeMartino : But you also have expenses that are up, you have operating expenses that are up. We give a hell of a raise an increase to keep our employees so it’s going to be a good volume year for us.
Operator: Our next question is from Mitchell Sacks with GS Asset Management.
