Linda Bolton-Weiser: Yes. So, I’m just wondering on the drug side of things here, there have been weight loss drugs available over the years at different points in time, new drugs coming in. What is it that’s really different now that makes you really want to merge this aspect with your existing business? Like what is it that’s different? Is it the insurance aspect? Or can you give a little more color on that?
Sima Sistani: Happy to Linda, thank you. Yes, I mean, we strongly believe that these latest advancements in prescription chronic weight management medications represent an innovation in our in our space today. And we’re at this pivotal point where we can build new capabilities to expand our market and obviously reinforced by our foundational strengths. And the thing is with these particularly GLP-1s, due to their newness, limited availability, the significant financial expense they haven’t been adopted more broadly yet. And yes, we expect to help people gain access through this preauthorization insurance engine. And we see this as a real opportunity for the future to be a holistic care partner and help our members navigate the side effects and the challenges that come up with taking these medications.
I might add here actually, Linda, what’s interesting to note, just in general on the space, if you — if you look at the 2010 and the interest in weight loss and the interest in Weight Watchers, they used to track each other. Over the last decade, we’ve seen the — that interest in Weight Watchers diverging from the interest in weight loss. Well, over the last 18 months, there’s been a real rise in popularity and interest in these medications. And for all the reasons that the drug companies have detailed limited side effects and success, but ultimately, now that the supply chain challenges are being resolved and more insurance plans are covering these medications. Access is expected to increase, and that will be an opportunity for us to expand on the market and continue to be the science-backed leader and provider of choice across all pathways, whether clinical or lifestyle or functional for that matter.
Linda Bolton-Weiser: And can I just ask, you’ve mentioned several KPIs that are kind of going in the right direction. But I guess we’re just almost interested in new member sign-ups. Is there any — a little bit more color you could give? Like, is it improving, in other words, less down year-over-year, month-by-month as you go along? Or is year-to-date first quarter much better than fourth quarter. Can you — is there anything you can give to give us confidence that it’s going in the right direction?
Sima Sistani: Yes. I mean the trend is improving. And I just want to keep pointing people to the fact that we intentionally chose to drop our media spend. And as we noted in the local, we saw that the trend improve over Q3 — Q2 and Q3 as well as into Q4 and now peak. So, we’re feeling good about that and expect to update more in the next call.
Heather Stark: I would add to that as well. We do expect to spend into Q3 at a more efficient LTV to CAC ratio, and we do expect to see a return to improved trends in the second half.
Operator: The next question is from Michael Lasser with UBS. Please go ahead.
Michael Lasser: On the strategic rationale behind the acquisition, to what degree do you think your difficulty in signing up new members is because of the pharmacological solutions that is making weight loss different today than it’s been in the past. And so, this is an effect that trying to hedge an existential risk that Weight Watchers might be facing over time. And as part of that, how do you manage the cultural challenge of integrating these two businesses because for so long, Weight Watchers message and culture has all been about the behavioral modification rather than a fix like uphill to take.
