Mark Hair: Yes. Great question, Ryan. And the way I articulated just our cash and access to liquidity was just to give the same level of information that we’ve given in the past, just to say what we have access to, we have a great relationship with our lender and so we have access to financing if needed. John and I have often talked about if there are opportunities for us to expand the portfolio, we did last year with some great technology, RedPoint, that’s PSI. We’re not saying that we require any kind of acquisitions or additional products in our portfolio to have this growth that we’re talking about this year but we’d always be open to great complementary technologies if it were to match what we’re doing here. So, that was not in any way suggestive of what we’re planning to do or any strategy changes, but just to give the full perspective as far as what our cash on hand is in full liquidity.
Ryan Zimmerman: Maybe I read into that a little too much, but thank you for clarifying.
Mark Hair: No problem.
Operator: Our next question comes from George Sellers with Stephens.
George Sellers: On the sales force, I’m just curious, what does the productivity look like for some of your top-performing direct reps? And then how should we think about the capacity of your direct reps in terms of maybe the number of surgeons they can support or the level of revenue they can drive or how you’re always thinking about it internally?
John Treace: Yes. George, it’s John. Good to hear from you. Good question. We have a broad spectrum of revenue productivity with our sales team today. You have some that have quite significant tenure, several years, and some of those reps can be in the several million dollar range. And then we have newer reps that are still trying to climb to $300,000 and beyond those newer reps, right? So, what we do know is when you get to the 2-year time point, most of our reps are operating at a level of revenue performance that we’re very pleased with, and we believe is very sustainable and they’re also operating at a cost of sales ratio that’s very nice for the business, and we know can create a lot of leverage going forward. So, we feel good about the sales team, we feel good about their capacity to bring these other technologies forward and part of it is because of the efficiency of this model and the way we’re bringing these products out.
We’re not asking them to run around from one part of the foot to another part of the foot and do a trauma case and then do a hammertoe where everything builds upon. Lapiplasty and Adductoplasty build on each other, SpeedPlate builds on both of those, and the hammertoe fits into the bunion case, our disposable instruments, they’re problem-solving for mid-foot fusions that we specialize in and Lapiplasty cases. So, it’s a very, very efficient way to sell. And we’ve proven that we can establish a powerful direct channel that’s really well sustaining with room for future year nice cost leverage as well. So, hopefully that answered your question. Let me know if you need more information.
George Sellers: And then, Mark, maybe one for you. You talked about the marketing line as being an area where you can see leverage this year and in the future and I know you all have recently hired a new Director of Marketing. Can you just speak to some of the areas where you’ve been able to find maybe some more efficient ways to spend in that marketing line? And how you’re sort of driving some better returns on those investments through that marketing line item?
Mark Hair: Yes, great, great question. This is Mark. Let me take a first stab at that and if there’s any other color John can add to it. Yes, over the past several years, we continue to increase our spending. We’ve tested a lot of different marketing techniques areas, whether it be social media, whether it be TV commercial spots, we’ve done a lot of marketing activities and campaigns. We do have a new Senior Vice President of Marketing, who’s been phenomenal. We’re lucky to have him, he’s got a lot of great experience and he’s already been able to really streamline a lot of our efforts to get similar results or higher results with even less spend. So, he comes as a professional, great experience, we’re leaning on him. So, that’s what we’re saying, we can get the same kind of results or even better results without having to continue to increase our spend levels year after year.
So, that’s where the leverage can come in because if we can hold some of that spending levels consistent yet have better outcomes, that’s where that leverage comes. John, anything?
John Treace: No, I think you said it very well and comprehensively. We’re excited about Nathan’s expertise and the impact he’s been able to have quickly on the business. He’s only been here 6 months and driven a lot of efficiencies and productivity, got us sponsoring the national Pickleball championships, which has high demographic overlap with our patient group and a very impactful, very cost-efficient way to reach a lot of potential patients and a lot more creativity coming out of him and more to come, stay tuned on some new initiatives that we’ll be launching here in the next 2 to 3 months.
Operator: I’m showing no further questions at this time. I’d now like to turn it back to Julie Dewey for closing remarks.
Julie Dewey: Thanks, everybody, for joining us today. We appreciate your time and interest. If you have more questions, please reach out, and we look forward to talking to you next quarter. This concludes our call.
Operator: Thank you for your participation in today’s conference. This concludes the program. You may now disconnect.
