It’s just sort of if the stock is intrinsically undervalued, and it’s undervalued probably on a revenue basis, it’s trading around half of revenues. So what does it take to get trade at revenues and well in the earnings? So how does that unfold your mind and part of the way of doing that in my mind is to say, well, is there a framework for, as you framed on Investor Day expecting positive cash flow contribution throughout the year, then we can talk a little bit about the EPS maybe not this year because it might still we’re going the tipping point stage. But in an out year, we might be able to talk about it.
Adam Stedham: Absolutely agree. So I get where you’re going, and I don’t really have a model for you, nothing that we’ve shared publicly or that I’d be prepared to share here. Yes. What I would say is — this is the reality of where I think we are and a lot of software companies are — technology companies –technologies not software companies but is there’s a certain level of organic growth that you need to be able to demonstrate consistently over a period of time and then you start to get credit for your ARR and people start to look forward and they start to model forward the layering effect of your ARR based upon your organic growth rate. Given that we don’t have the track record of organic growth we’re not getting any benefit of that in our share price calculation.
And so I do believe that throughout — what I think will happen is throughout this year, if we deliver the organic growth, we think we will, and then we follow that up with 2025 organic growth — the share — I don’t think the share price is really going to be tied back to EPS. I think it will be tied back to a perception around modeling the organic growth and the layering of the ARR and what that will ultimately then translate to from an EPS perspective. So that’s how I think it will unfold, but I don’t know. I don’t have a crystal ball, but I mean, that’s just my best.
Unidentified Analyst: No, no, no. I appreciate your just being forthright with that. I mean it’s hard to set expectations when all you’ve done it right now is just rebuild the company in a lot of ways. So bringing it to the tipping point should be congratulations for that. But I was curious how you’re looking down the road.
Adam Stedham: I understand completely.
Operator: At this time, we are showing no further questioners in the queue, and this does conclude our question-and-answer session. I would now like to turn the conference back over to Adam Stedham for any closing remarks.
Adam Stedham: Thank you. Well, thank you, everybody, for attending. This is an interesting time of year because closing out a year takes a little longer than closing out a quarter. So not — it’s not too far away, we’ll be on another call with you, and I look forward to that and give me more of an update on that answers some of these questions around what do we think is the value of our latest press release, any updates on that as well as continued progress of the business in Q1. So thanks, everyone, for attending, and look forward to talking to you again.
Operator: The conference has now concluded. Thank you for attending today’s presentation, and you may now disconnect.
