Karru Martinson: And that Sequence acquisition was made on April 10, I believe?
Heather Stark: That’s right.
Karru Martinson: All right. Thanks.
Heather Stark: We do expect cash to build through the second half of the year. And as we shared, we expect a modest increase in cash from operations year-over-year.
Karru Martinson: Thank you very much. Appreciate it.
Heather Stark: Thanks, Karru.
Operator: The next question comes from Jack Wallace with Guggenheim. Please go ahead.
Jack Wallace: Hi, thanks – for letting me back in the queue. I just wanted to ask about the Personify Health partnership, you announced earlier this month, and how that’s been accelerating your B2B strategy? Thank you.
Sima Sistani: Sure. Welcome back, Jack. We are really excited about this channel. We have a few large prospects that are asking to work with us, but have requested that we come through either their carrier or Virgin Pulse. So landing these deals, they’re really critical. And to our overall strategy with some of those larger employers. And yes, Personify Health works with thousands of large and jumbo employers. And they’re the preferred wellness platform for Cigna employers. So, we’re hoping to start turning that on to customers, by mid-year through the end of the year.
Jack Wallace: And should we think about this as the start of as opposed to a one-off of a partnership strategy on the B2B front?
Sima Sistani: This is the ongoing work that we’re doing on the B2B front that’s certainly not a one-off. There’s a lot of volume happening in terms of our B2B conversations right now.
Jack Wallace: Great. Thank you.
Operator: And the next question comes from Nathan Feather with Morgan Stanley. Please go ahead.
Nathan Feather: Thanks. I just wanted to look at some of the product improvements. So some interesting improvements you have scheduled for ’24 that you put out in the deck. Maybe to help think about the potential impact, maybe interesting to go back and do a bit of a retrospective on the major product that fits in ’23. And I think primarily peer-to-peer messaging and what to eat tab. And how those have impacted the product experience. And maybe there’s some of the things that are driving up activation rate in the corner?
Sima Sistani: Right. Well, so you may, I’m sure, notice that we talked about how our activation rate is the best that it’s been since 2020. We are seeing core retention now over 11 months. A lot of product improvements also happening on the clinic side as well. And so, it takes time for these improvements to read through. And so much of our business is word of mouth. And the more activated that we are, the more we are able to activate our members, the more likely they are to be successful and tell a friend. And so, we’re really excited about the next sort of fleet of changes, if you will, and really kind of honing in on that care experience, and feeling like somebody who comes in is just going to have everything that they need to be successful, and make the healthy habits that they need.
And ultimately, any great product roadmap starts with solving member problems. And so, as we continue to sort of get to know the insights, and the data from each new cohort, we continue to develop and shift our roadmap alongside of that. And so, a lot of those things that you’re seeing are the problems that we are addressing having to do with, making better food decisions that built on, for instance, the what to eat strategy from last year. Or the work that we are doing on WW together and the opening up of the clinic tab is also an extension of the work that we started to do around progress and community. And so, these are just ongoing builds, to helping our members be more activated, have more success, increases NPS. Does that help answer the question, Nathan, or do you have a follow up?
Nathan Feather: Yes, that’s helpful. Thank you.
Operator: This concludes our question-and-answer session. I would like to turn the conference back over to Sima Sistani for any closing remarks.
Sima Sistani: So, just to recap, we are proud of the results we are seeing so far in 2024, really encouraged by our progress and improving retention in our four Weight Watchers program, growing our clinical business and building momentum in B2B. I’m looking forward to our live virtual event next week, making the shift a new way to think about weight with Oprah Winfrey. Joining the conversation will be diverse and influential voices and leading medical experts. The May 9 event, is going to start at 6 p.m. Eastern, will be live streamed on YouTube and remain available for on demand viewing. We are really dedicated to shifting the culture, changing the conversation from weight loss to weight health. And I believe this will be a highly visible cultural moment that’s going to help us amplify that commitment. And I thank you all.
Operator: The conference is now concluded. Thank you for attending today’s presentation. You may now disconnect.
