Simran Kaur: Great. No, that was perfect. I guess for my follow-up here, I just wanted to circle back on the P&L and specifically how we should think about the cadence of OpEx spend through the year. And really, I am trying to kind of hone in on what is assumed when you layer the impact of the ZMS build.
Dan Moorhead: Last year, we have talked about kind of what we do with ZMS, and ZMS increased about $5 million in €˜22. I think we spent about $7.5 million. We see a similar increase in 2023, so about another $5 million. Some of that is new hires, and some of it is just exit rate versus what we started the year at. So, you will see that layered into G&A over the course of the year. This year, we ended G&A at 23% of revenue. I think with the investments in ZMS and generally just inflation that continues to hit us pretty good, I think that stays pretty constant in 2023. Same on the sales side, this year, we were at about 42%. I think it’s fairly similar next year. Obviously, it depends how many people we hire and then where we end up on the top line. But with inflation and the number of people we expect to add this year, I think those percents of revenue are going to stay fairly constant.
Simran Kaur: Okay. Perfect. No, that was great, Dan. And maybe a quick one on capital deployment. So, you guys completed about $30 million in stock buybacks last year. So, how should we think about capital allocation this year and specifically stock buyback?
Dan Moorhead: I think it’s still on the table. We will still continue to do that. We are still generating cash from operations. So, we do still have excess cash in the business, and so that’s still something that we will consider. We are always going to look at what provides shareholder value and for us, and we believe for all of our shareholders, that provides pretty good value.
Simran Kaur: Okay. Perfect. I think that’s it for me. Thank you, guys.
Operator: The next question comes from Yi Chen with H.C. Wainwright. Please go ahead.
Yi Chen: Thank you for taking my questions. Just to clarify, does the FDA need to inspect the manufacturing facility of CM-1600 before guaranteeing the 510(k) clearance?
Thomas Sandgaard: Not specifically. As I mentioned before, it’s just a matter of when they routinely come to audit and inspect our facilities as part of €“ and taking on cGMP, etcetera. So, it’s €“ they don’t come out. They will look at the thing to look at last time. They always have some comments to various areas and suggesting the things we can improve. They will come out, the first thing to do is to check on that. It could be that there was a paragraph missing in a quality manual or something like that. They will check on all those things. And then they will just randomly inspect various areas. And as we keep adding more products as for instance, the CM-1600, there will be more parts of the company for them to look at.
So, in recent audits with them, it has taken a lot less time than they have planned, and they are only out here for a few days. And as we continue to grow our business, the time it takes them to complete an audit will most likely increase. But again, it’s not specifically tied to when we get the clearance for a specific device.
Yi Chen: Okay. And has recent communication with the FDA indicate that clearance could occur in first half of this year or second half of this year?
