So, from all different businesses together with the fact that if you have services, you record those cost of services in the cost of goods, and that reduces the margin of an IP business that is now back to the 90%, that’s probably the combination lead-time, customer base, the magnitude of royalties that that we could generate from the — from our existing customers and new ones in our space is a few of the benefits that I could highlight. Amir, anything here?
Amir Panush: I would say overall, the IP business model is much more leverageable and with that we can drive also better gross margin. We don’t need basically so-called to have the people charging to cost of goods sold in order to develop the technology. We are more developing, innovating with R&D to build the IP and then we leverage that across a large number of customers that can also ship in high volume. Which is a better basically more for us has been and moving forward, even more focus.
Chris Reimer: Got it. Thanks. And just in relation to the combo deals that you mentioned earlier. Is this something that you’re pitching as something that’s already available together? Or is it strictly from a customer perspective, if they want two or three things, then they’ll ask for it? I’m just trying to gauge the potential in terms of larger sales regarding combo deals. If you can give any color on that and what the potential is there.
Amir Panush: Sure, it’s actually both. We have this quarter three business like that. We see customer demand buying more for different type of combos, especially specifically more WiFi-Bluetooth combo, but also we organically internally basically developing these technologies and offering at something available to — for people to take advantage with fast time to market with a different type of combination of our core wireless technologies between WiFi Bluetooth 15.4 UWB and our Benet.
Yaniv Arieli: I would add to that, Chris, that we power to remind us all how the a billion devices do to last year is only about 100 million-ish WiFi. So one of the potentials in royalties is to catch up because WiFi came later to the consumer market. They are much more focused on residential and enterprise. And today, lots of consumer devices, automotive, almost everything around us has also WiFi and bots, connectivity and the volume opportunity for us with combo chips and standalone WiFi is a magnitude larger with higher ASPs. So, that’s one of the advantages of these candles.
Amir Panush: It’s definitely helped us with both licensing and what is moving forward as a Bluetooth customer asking for combos with WiFi and vice versa.
Chris Reimer: Okay, great. Thanks. That’s it for me.
Amir Panush: Thank you, Chris.
Operator: [Operator Instructions] Next question comes from David O’Connor with BNP Paribas. Please go ahead.
David O’Connor: Yes, good morning. Thanks for taking my question. One or two on my side. Maybe firstly, Amir, you talked about the revenue growth this year progresses in 2024. Can you just give us a sense of what those drivers are specifically from kind of end markets as you look into 2024? That’s my first question.
Amir Panush: Yes, definitely, David. So, first, we really established a very strong leadership in wireless communication overall. As we just discussed on the previous — related to the previous question, we see a lot of our customer base that have used our Bluetooth technology or WiFi are coming in asking for the other technologies. We see potential very good increase in UWB activities as well as some in urban IoT. We also see our five gene IoT in terms of the proliferation of 5G outside handsets and micro-based stations with significant opportunities happening in 2024. And last but not least, we have announced this year our new point products for edge AI. This product is basically becoming available in the market. We’re engaging with multiple customers in terms of early qualification.
