Wade Robey: Yes. Thank you, Leslie. And Ethan, thank you for that question. As you know, we’ve been selling internationally with Amlan products for a number of years. Our presence in the U.S. market has really only been significant for about the last year and a half. So, a little different in the answer based on region. Internationally, we have a long history of performance, a long history of customer use and established efficacy. In the United States, we’re building that obviously as we launch and penetrate the large vertically integrated industry that we serve in the poultry sector specifically, but also in swine. The feedback has been excellent so far. We’ve been working very hard to penetrate and begin to sell at all the largest integrators in the U.S. and the poultry market.
We are already making substantial progress there in the short time we’ve been launched and the feedback has been overwhelmingly positive not only for our core technology, which is mineral clay, but also as customers have tried our formulated products to get broader spectrum efficacy as they seek to improve animal performance and help their flocks, their herds reach optimum potential. So, overall extremely positive feedback and great momentum both in the new North American market we’re targeting, but continued momentum internationally.
Leslie Garber: Okay, great. Thanks, Wade. The next question comes from [Robert Smith for Center for Performance Investing] [ph]. And I’m actually going to combine his question with a question from Ethan Star. So, I’ll read both of them. With respect to Amlan, we’ve been awaiting the landing of some big fish and assume you are further along this track. Last June, you shared a target for this year and wonder whether you’re willing to give us a target for fiscal 2024? If not, would it be reasonable on my part to expect a figure of say 50 million based on the probability of reeling in a big one? And then that’s also in conjunction with Ethan Star’s question that says on last quarter’s webcast, Dan said the Amlan is pretty much a business of Grand Slam or Strike Outs, while nothing is certain until you have a contractual purchase, does the Amlan team think that has been getting closer to one or more of those Grand Slams?
So Wade, I’m going to have you answer both of those.
Wade Robey: Again, thank you, Leslie. And thank you Robert and Ethan again for those questions. Robert, I’m not going to give a specific number or target. I don’t think I should do that. But what I’ll talk about is, really the question I think both you and Ethan are asking, which is, are we closer to really transformational growth within the Amlan business? And I would say, yes, we’re very encouraged by the momentum. The North American market, which we just launched in about 1.5 years ago, is already our largest market in terms of tons sold. It is a highly concentrated, highly vertically integrated market, as you know. So, as we penetrate and are successful at these top producers in the United States, we didn’t have very large stair steps of growth.
And so, we expect that to happen, and we are actually seeing that in our commercial progress today. Internationally, the market tends to be a little bit more diffuse, more distributed. So, the growth tends to be, say, in LatAm or in Asia or against the steady curve of compounded growth you might expect as you continue to launch new products and grow in these markets. But because of the North American significance to our overall market opportunity, our addressable market, we will see very significant growth in steps and expect that in the coming years. Again, great progress in the U.S. this year. It’s already our largest market in terms of tons, and we expect that to continue.
