Kyle Beilman: So generally speaking, demand is pretty favorable right now. I would consider it more normalized coming out of a high stimulus, high – with a lot of extra backstopping that was coming in through a lot of the COVID relief and just looking a lot more similar to what things look like pre-COVID, which I think is a more favorable overall environment for us to be in. But I wouldn’t say we’re in any sort of abnormal demand period based on anything that we’ve seen. It’s just strong and consistent overall demand, and we’ve continued to add value to the product over time, too, that’s driving higher degrees of retention as well. So yes, overall, positive and productive macro, but I wouldn’t say abnormally favorable.
Gary Prestopino: Okay. And then I’m just going through my notes here. You mentioned something about a new fee schedule as well as I think it was you’re moving away from the dollar per month subscription. Did I get that right? Could you just talk a little bit about that?
Kyle Beilman: Yes, sure. So first and foremost, on the fee structure, so historically, we had a peer dollar-based fee structure as you sort of went – with respect to the ExtraCash express fee. So as limits went up, the express fees went up but not linearly. They were – it was just a fee tier that was for arbitrary as you went up the limit spectrum. Starting earlier in the third quarter, we onboarded all new customers into a percent-based pricing model, so allowing us to – – or scale our fee structures up with our origination size. We’ve also paired that with a bigger discount for folks to send their ExtraCash funds to our Dave Card to further drive that trial and engagement with the Dave spend account. But overall, we’re – we think this change is helpful from a monetization perspective.
It also just helps to better align us with the customer to ensure that we’re delivering the maximum value for ExtraCash and our unit economics to support that. So it’s been a positive change, and we expect it to be additive in the fourth quarter as we rolled that out to all of our existing customers in the beginning part of the quarter.
Gary Prestopino: So you’re getting rid of the tiered structure and you’re just going to an overall flat percentage?
Kyle Beilman: Correct.
Gary Prestopino: Okay. And then what was the other thing there with the dollar per month membership? Did you say you were stopping that? Or did I miss…
Kyle Beilman: We’re taking a close look at our subscription business overall. But the changes that we’ve made is we’ve built a new billing system and payments architecture underlying the subscriptions product that we started to roll out last quarter, has presented a bit of headwinds just in terms of migrating users over into that new billing structure that’s like I said, put some headwinds around the number of MTMs. But what that does allow us to do is gives us a lot more flexibility in the future to roll out prospective subscription offerings at a later date. So we’re excited about that opportunity but taking a close look at more of the specifics for 2024 around what that could look like.
Gary Prestopino: Okay. And then just lastly and I’ll let somebody else jump in. I mean you guys have done a great job of getting the cost structure down and driving efficiencies and growing the revenues through ExtraCash and the Dave Card. I mean, at this point, do you feel pretty confident that you really evolved the company on – to a step-change basis, where as you continue to grow revenues in this environment that your year-over-year losses and adjusted EBITDA will diminish and you could maybe attain a run rate of profitability for a full year?
