UnidentifiedAnalyst: Okay. Helpful. And then maybe just from a strategic standpoint, as you think about what’s most important over the next 12 months or 24 months, how much of a priority do you see the work being done in the precision medicine initiative? Obviously a lot of promise in clinical proteomics, but assay development, there is a heavy lift in a lot of ways. So just curious how we should think about that as a part of your investment focus over the next year or so.
Adam Taich: Yeah, Dan, I think the best way to think about that, and this is Adam here, is really as we announced at the end of last year, we’re going to execute really on our focus related to the life sciences side of our business. Now, most certainly some of our biopharm accounts, and certainly there are accounts in academia government who do work into that precision medicine and those types of initiatives. But for us it’s really focusing on that core R&D research market, building out the strong commercial foundation we have, and then continuing to expand the kits business.
UnidentifiedAnalyst: Okay. Last one for me, if I could just sneak in an additional, on the commercial team expansion, which I think for those of us that were thinking about the case around the time of the IPO, was one of the more compelling aspects of the business, just in the sense that I think you had 14 commercial folks in 2020 and that was going to something like 50 to 100. So where do you think from here, the commercial team ads will be most evident when it comes to growing the revenue base? Is it overseas? Is it in a particular application? What should we look for just in terms of the impact that commercial scale up can have?
Adam Taich: Sure. Dan. Yeah, and this is Adam again. You’re absolutely right. I think building out that team, I think it took — it has taken longer, particularly if you’re selective, which I think we have been in ensuring we get the right professionals on board. It takes time. We’re in a really good spot right now as it relates to the team that we have in North America, both from a sales and a service and support standpoint. We’re continuing to expand here in 2023 in EMEA, which is a focused area of growth and a particular focus on the authorized site front and then we’re building up from, what was effectively a team of one or two last year in APAC to a more substantial team. We’re being selective there. We want to make sure that we’re targeting the markets that are already ripe for high flex proteomics, but there’s plenty of opportunities for us to continue to build there in APAC.
Operator: And our next question is coming from Brandon Collier of Jeffries. Your line is open.
UnidentifiedAnalyst: Hey, thanks. Good afternoon. We need a question for Adam. Could you just touch on the Novartis contract revision, why now? What do you get out of the new terms and do you have any better line of sight in terms of the annual minimums associated with that contract? Will those be higher or lower now than they were before?
Adam Taich: Yeah, thanks Brandon. It’s Adam here. I think the key point I want to mention as it relates to Novartis, we’ve had a long history with them, an extremely deep relationship with Novartis in various areas of their research, various geographic areas in which we served them. And the key thing that we were working through as it related to that was the extension, right? And so from a Novartis perspective, we’re very excited to be their proteomics provider of choice for many, many years to come. And we continue to try to find ways, innovative ways to add value to that partnership.
UnidentifiedAnalyst: Okay. And then maybe one for Shaun, just in terms of the revenue outlook for the year, any color in terms of phasing? ’22 was more of see-saw pattern, but historically, revenues have been more 4Q weighted. How do you see ’23 playing out and how would you I guess, describe degree of maybe added conservatism you’ve embedded in the outlook given all the change going on in the organization right now?
Adam Taich: Yeah, I would say, we’ve always kind of put out there that as a service business. It’s hard sometimes to predict any given quarter and we don’t really factor in a certain significant material seasonality. You heard in my remarks that I put the Q1 will look substantially like Q4, going into this year. And so, I would model it with, kind of really a mile phase going up. I wouldn’t — we don’t expect to have any particular recorder that’s heavy. We don’t have a back loaded forecast, but it will be a slight ramp up. We’re driven more or less by more kit coming online, but as Adam pointed out, that’s not a huge material number. So it’s not adding this huge topics again.
Operator: Thank you. On to our next question and our next question will be coming from Kyle Mikson of Canaccord. Your line is open.
