Dan Burton: And that does inform the way that we think about 2023. We are anticipating both on the existing client side and on the new client side in a meaningful progress relative to what we saw in 2022, but that progress back to maybe those long-term growth targets that we’ve talked about of 20-plus percent will take some time to work their way through.
Stephanie Davis: Understood. Super helpful color. Just kind of a follow-up on that, Bryan, you talked about the economics of this year contracts and this pretty immediate revenue uptick from them. So given what we’re seeing in the guidance, could you share what level of new wins is baked in?
Bryan Hunt: Certainly. Yes. So in terms of our two bookings metrics that we provide color on for 2023, so on the retention rate side first, the dollar-based retention rate, what we shared in terms of the range there was 102% to 110%, and that’s overall between tech and services. So as an example, just at the midpoint of that range at 106%, that’s meaningful improvement compared to the 100% that we realized in 2022. So we’re encouraged there. Now in terms of the tech-enabled managed services portion of that, a good portion of that expansion with existing clients does come from tech-enabled managed services deals. So we shared a little bit of color that our €“ if you kind of split that dollar-based retention with into segments, the services proportion, that will be a little higher than the technology well in 2023.
So as Dan mentioned, we do have material kind of pipeline for those opportunities. We’re assuming that those come through in 2023. Based on the sales cycle, we did weight those a little bit heavier towards the back end of the year than we typically have seen historically. And that’s kind of the dynamic on the existing client side. On the new net new DOS client side, we guided to low double digits for 2023, again, an improvement over 2022, and wanted to just be aware of the continued kind of financial constraints that our end markets working within. And it will take a little bit of time to ramp that up closer to historical levels.
Stephanie Davis: Thank you for help. Thanks folks.
Dan Burton: Thanks, Stephanie.
Operator: Thank you. Our next question will come from Anne Samuel with JPMorgan. Your line is open.
Anne Samuel: Hi, thanks so much for taking the question. Your guidance implies some pretty outstanding margin expansion next year despite revenue growth below your historical rate. And I was just wondering if you could share if the annual 300 basis points of margin expansion that you’ve pointed to going forward is predicated on you returning to that historical rate, or if similar to this year, you can achieve it even if the pipeline remains somewhat delayed.
Dan Burton: Yes. Thanks for the question, Anne. I’ll share a few thoughts, and then, Bryan, please feel free to add as well. So similar to what we experienced in 2022, even with lower revenue growth than what we had originally forecasted. We did find that there were multiple ways for us to achieve meaningful operating leverage and thereby get back to beating even the original EBITDA guidance for 2022. We have been diligent in pursuing those operating leverage and cost-saving opportunities. And we’ve been encouraged as we have, in particular, seen some meaningful existing client expansions where the operating leverage is really significant. Carle Health is a good example. INTEGRIS Health is a good example where, like from a go-to-market perspective, we found that one strong senior account executive was able to manage that relationship size even when it doubles or triples or quadruples in size and that we didn’t require very much in a way of incremental G&A or R&D spend.
