Bryan Lewis: It’s — what we’re looking at more — the only time there’s really a difference in pricing is age-restricted versus kind of everything else. So the transaction for an auto dealer, it’s going to be — if they’re doing volume like that, they’re going to be almost like a retailer who is doing a card-not-present transaction. What I certainly will say is we continue to raise pricing. I think Jeff said in his remarks, we were up about 16% overall for the year. That includes every deal that we have been closing. So we are always doing a combination of we’re pushing the pricing because we know and we see how much we’re saving for people. And you get enough auto dealers and you can realize, wow, we did that for them. We’re going to raise the price for everybody else. And that’s what we’ve done.
Scott Buck: Great. That’s helpful. And then I wanted to ask about the balance between profitability and revenue growth. It sounds like ’24, we’re going to see EBITDA margins improve a little bit. But you’re certainly not taking the foot off the gas here on growth, right?
Bryan Lewis: No, no, no. Not at all. I think we are running as hard and fast as we can for growth. And at the same time, a lot as Jeff has been able to bring a financial diligence that really didn’t exist before and put all the systems in place. So I think we’ve got a better picture of where and how we’re spending money and we can sort of quickly move it to the things that we think are going to accelerate growth. And certainly, that — it was the marketing, the branding and the channel program and then making sure also we have the right salespeople, which I really believe we finally have the right team in place. So growth is what we are going for. We are all tied to revenue from the most recent employees in the company to me. All we care about is making sure that we’re growing the revenue, while we’ve got Jeff in the corner over there, making sure we’re not spending a ton of money and blowing markets. So growth in where we —
Scott Buck: Go ahead, Jeff.
Jeff Ishmael: No, I was going to say, we’re definitely cognizant of how we’re deploying that spend. I mean one of the things I watch is I look at our employee count, and we’re looking at moving towards 52 people. I mean we’ve got a very high revenue per employee. And I’m cognizant of that because what we don’t want to do is overheat the team either. So as Jonathan works on his re-architecture efforts, it’s like don’t think that your research-constrained. If you have a compelling case and you need more spend, to communicate that will work across the entire team. As parcels out all of these marketing relations, all of the trade shows that we’re going to be attending conferences. Hey, let’s balance our needs on those, what’s going to be effective. These are all new, but let’s work as a team. So there’s really not a red limiter in place, but we’re making sure that we stay in the guardrails of achieving those committed EBITDA levels publicly.
Scott Buck: Great. That’s helpful. And then last one for me. In terms of capital allocation, as the business starts to generate more cash internally, how are you thinking about uses of that cash? Could we see an aggressive share repurchase with the stock —
Bryan Lewis: Look, I’d say that kind of everything’s on the table. We’re always going to look at what we think brings the most shareholder value. And that could be everything from a stock repurchase to is there a small little tuck-in company with really full technology that makes sense to add into our portfolio. So — and a lot of cool start-ups and other things come across our door, where they all know we’ve got something very interesting, but it’s used us without a really, really accurate first step. So we’re always looking. And it would — again, what makes the most sense for the future growth of Intellicheck and also for the shareholders.
Scott Buck: Great. Appreciate all the added detail in the prepared remarks today.
Bryan Lewis: Great. Thanks, Scott.
Operator: Our next question comes from the line of Rudy Kessinger with D.A. Davidson.
Rudy Kessinger: I guess, Bryan or Jeff, if you had to take a slide, I got it kind of going back to my cost question. Of the 95% that’s coming from financial services is it’s — I know there’s some mess in this data you gave, but is like 2/3 of that coming from retail? Is it 3/4? Is it 1/2? Like is there any kind of bounce you put around it?
Bryan Lewis: It’s going to be a significant portion of it, 75% to 80%, probably in that range. It’s going down every quarter as we add more pure banks. And then also as the banks that we have add more banking use cases. So it continues to move down.
Rudy Kessinger: Yes. Okay. And then as far as — you said you saw some margin in past 15% to 25% decline in Q4. What have you seen quarter-to-date? I know you said down year-over-year quarter to-date in Q1, but like what level of decline? Has it gotten worse throughout Q1? Or is it —
Bryan Lewis: I think Q1, I think — and that’s part of the reason, and I think what we’re seeing in Q1. I’ve been looking at the numbers I was trying just fall. We’ve got some down upwards of 27%. The large guys are basically down anywhere between 18% and 27%.
Rudy Kessinger: Okay. So a bit worse thus far in Q1 than Q4?
Bryan Lewis: I’m comparing — yes, so I can do apples-to-apples because we always see a decline in retail in Q1 just because the holiday shopping, and everybody is like not spending a lot of money. But — so comparing to the first 2 months of this year versus 2 months of last year, and that’s what those numbers are.
