Great. Good afternoon, everyone. Welcome to the JP Morgan Healthcare Conference. My name is Anne Samuel, and I'm the healthcare technology and distribution analyst here at JP Morgan. We're thrilled to have NextGen with us this afternoon, presenting our CEO, David Sides, and CFO, Jamie Arnold, will join us for Q&A. We'll hear their presentation first, we'll open it up to Q&A. If you do have a question, please raise your hand, and we'll get a mic to you. With that, let me turn it over to David. Thank you, Anne. It's nice to be in person, isn't it? Compared to virtual and doing these. We were doing some Q&A one-on-ones, and it was like, this is actually better 'cause you have to physically move sometimes, so you can't do these 30 a day. Here's our forward-looking statement. I'm David Sides. I'm the President and CEO of NextGen Healthcare. Excited to talk to you about our company today. We're a leader in cloud-based technology for ambulatory, and I stress the ambulatory part, for physician practices, in that we're not in the inpatient setting. Ambulatory only, where we see the trends moving. Our vision is better healthcare outcomes for all. Some of our sales proposition is really around integration, so clients are looking for, how can I reduce the number of systems that I have, buy everything from one supplier? It makes it better from an integration perspective, from a cybersecurity perspective. You see that kind of in your own business. You don't want as many point-to-point solutions. We've long believed in interoperability, so how do we connect data to get better healthcare outcomes for patients and providers? We have a lot of technology here that we'll talk about, and we're building on that technology to accelerate growth. We've been working a lot on our data and analytics and how do we provide insights to providers at the point of care to make a difference in the care journey for that patient. Impact. We really orient it around outcomes as far as the Quintuple Aim. How do we get better clinical and financial outcomes, better patient and provider experience, while improving health equity? Let me talk a little bit about our long-term goals, and we'll go through these. You know, why would you believe each of these? Our goal is to achieve 10% revenue growth by fiscal year 2025. For reference, we're on a slightly different calendar year, our fiscal year 2024 starts in April. We're finishing up fiscal year 2023 now. Our goal is that we'll have 10% revenue growth by fiscal year 2025, which is April of 2024. We'll deliver operating leverage from 2024 and beyond, and we'll talk about that. We've talked about our Investor Day last year, that we'll see 2%-3% improvement between the revenue growth plus the EBITDA margin expansion in each year. We'll talk about how we're being deliberate and disciplined on how we think about deploying capital and our uses of capital as we generate capital. Some of the trends. The industry is changing and it continues to change. There's consumerism. There's, you know, consumers are, especially post-COVID, right? They're looking for a lot more automation. They wanna schedule things electronically or they want virtual visits. We enable all that for your physician, the physician that you use today. We think that patient-provider relationship's important. Digitalization, how do we digitize everything in the care delivery process? This becomes really important when you look at alternative payment models and value-based care. How do you allocate that risk? We have a lot of clients who are in value-based care contracts, and those contracts, we give them the analytics as they're managing that transition from fee-for-service to fee-for-value, that they know that they're gonna get the outcomes that they're looking for, and they'll have the financial outcomes that they need as well. One of the large trends obviously, is from inpatient to outpatient, 'cause there's a lower cost site of care. If you think about an ambulatory surgery center where our physicians practice that's less expensive than a hospital, that trend continues for the foreseeable future. It's why we like being in the ambulatory market so much, and the government likes it as well. The, you see the government saying, "How can we get things to ambulatory where it's lower cost?" Value-based care is one of those ways to say, we wanna be sure that you're seeing your doctor, and they're delivering care that's lowering the cost and keeping you out of expensive sites of care. That's happening through an integrated care. That's where interoperability is important, so that you're not getting the same test ordered as you go from place to place, or you're not going to more expensive site of care. Then that feeds into health equity. How do you get access to care for people, whether that means someone's doing a virtual visit and we're enabling sign language, or that's we're enabling physicians to practice where they want in their rural America or in underserved communities, where if you can't run a practice there, we won't have independent physicians and there'll be roll-ups that'll remove that access. We think we play a vital role in the healthcare industry in the U.S. and we're on and helping accelerate these trends. To give you a view of how we think about our business, we think about it in three ways. One is enterprise, which is, you know, the larger physician groups. NextGen Office is smaller physician groups, so think under 10. Very fragmented market. There's a lot of opportunity there. Our insights business is our data and analytics, interoperability, and value-based care business. This slide gives an idea of what we think the SAM is for each of those markets, and I'll talk about them a little bit more and how we're addressing each of those for growth and the opportunities we see in these markets to grow and achieve some portion of the SAM that we're looking at here. So we have differentiated offerings across each of these. You know, when people talk about what's the EHR growth, that's a small part of the enterprise piece for us, but it's, you know, 3%-4% piece. That's not all the things that are in enterprise. There's financial management systems. How do people get paid in either fee-for-service or fee-for-value? We call it our surround solutions, where you look at virtual visits, patient engagement, other ways that you're doing patient pay, things like that, revenue cycle management, are all part of that. We see that growing well in the future, and it's been growing well for us so far. Office is for the smaller, more fragmented physician office. Think about a single physician, single chiropractor who just needs an iPad and can start practicing medicine using our system. Insights, where we see a lot of opportunity for growth around, as I mentioned, interoperability, data analytics, and value-based care. This is the size of each of these domains for us today. Enterprise is about a $500 million of revenue. We'll talk about new client wins is one of the ways that this is growing well for us in the mid-single-digit growth and our surround solutions, we talked about we'd sell $100 million of surround. Those are what could be point solutions around the EMR and the practice management system, that is we're on track. We talked about in our last earnings call, we're at $50 million about for the $100 million so far. In Office, 10%-20% double-digit growth. We're adding in new offerings, new specialties, going to different markets there and expanding that solution. Insights, where we see a lot of opportunity here on taking some of the assets we have, putting a new business model or new technology or looking at a new way to grow this more quickly. And this one is smaller, but represents a larger growth percentage as we move forward. What does our growth model look like? New client wins is an important part of the model, the surrounding cross-sell that I talked about of $100 million over the three years, and then inorganic and business development. We recently acquired a company called TSI, December 1st. I'll talk about that later in Q&A. Now we're, we think we've set up all the building blocks necessary to get to 10% growth by fiscal year 2025. New client wins, we've been winning about 25% of our bookings have been from new clients. It's because we're architected for scale. One of the trends over time too has been the complexity of healthcare continues to increase, and our system handles complexity well. Whether it's a private equity firm that's rolling up a specialty practice that's multi-state, multi-city, large providers, the more complex, the better, we do. We offer configurability when people are looking at, I'm an orthopedic surgeon, I have physical therapy, and I do things differently in each office or a different state to meet regulatory guidelines. We can handle that complexity while the whole time we're driving outcomes. We've been winning. There's a third party called KLAS, which rates EMR and PM healthcare IT providers. We've won in Best in KLAS for years. We're number one in the practice management in the small office solution. That's the new wins piece. The cross-sell, this is our surround solution. Here are some of the surround opportunities that we have. You can see the recurring revenue growing on the right. The company as a whole right now is 91% recurring revenue. It's why we can see so well how our next year of growth is going to be because at this point, just finishing the third quarter in December and we're in our fourth quarter, which will finish March 30th, the revenue visibility for fiscal year 2024 starting in April looks really good at this point. We have a real driver with clients to give them the surround solutions, so they can buy everything from us in an integrated solution instead of buying point solution. As they do that, it builds on itself, that revenue subscription model, works really, really nicely. Hopefully that gave you an idea of how we're thinking about 10% revenue growth and continuing to be above 10% revenue growth into the future. What does that mean for margins? We've also talked about expanding margins as we move forward. Some of that comes from leverage just straight through the P&L of you have more revenue, our, some of our fixed costs are staying the same. We're also looking at operational efficiencies, so we're doing things like an upgrade center of excellence to upgrade clients in a prescribed manner at a known cost and a known timeframe. We've done some intelligent automation around Robotic Process Automation and other technologies applied to our revenue cycle. We made the decision post-COVID to go to a global work from anywhere. What that means is we're moving from any of our facilities, so we're in the U.S. and India, we're moving to a work from anywhere. We'll hire people anywhere in the U.S. and anywhere in India. That gives us a lighter capital kind of go forward CapEx footprint as we do that. It's also allowing us to retain and attract capital in ways that others who are trying to get people to return to office aren't able to or found as we did like many companies that, you know, post-pandemic, people don't live where you thought they lived anymore, right? They moved in the three years. We're happy for that. Great. You've decided to move to Colorado to ski or you move somewhere to go to the beach. It's fine with us. We're not gonna make you come back to where we hired you originally. That gives us good retention, and we're able to attract talent everywhere they are. We also balance resources back and forth between the U.S. and India where we can find talent. If we find a great engineer in the U.S., great. Find one in India, fine. We're recruiting from both countries. I'll talk a little bit about our capital deployment. First use of capital is investing for organic innovation, so organic growth. We're looking at new offerings, especially in the insights arena, and we're further, how do we differentiate our offerings from the from our competitor set? We're accelerating our growth through M&A, looking at how do we broaden our addressable market, where are things that are being successful in our client base that we could run through our sales organization and get, you know, more scale out of that, out of that technology. Finally, we'll return capital to shareholders. We have a share repurchase program, our sources of capital are we generate free cash flow. On the share repurchase program, I'd just note that, you know, that's kind of our last, you know... We'll do that to, you know, kinda keep any dilution from share-based compensation, you know, constant, but it's not our, you know, our first strategy to just as we generate excess cash, we'll keep the share count relatively constant. We generate free cash flow 'cause we're profitable. We did a convertible note in October at 3.75%, so we think we got an attractive interest rate on that capital. We still retain the ability to borrow $300 million through a bank syndication that we have. We think we have the capital that we need to execute this strategy, and if we generate excess capital above our merger and acquisition needs, we'll return it to shareholder in a thoughtful way. Finally, I'll talk about how we're executing on our multiyear plan. You see our revenue growth from the last three years and the guidance for this year, as well as our Adjusted EPS. For fiscal year 2022, I'd note the 7% growth is purely organic. We haven't done any mergers and acquisitions for three years until December when we acquired TSI Systems. And the outlook also reflects we divested some dental assets that we had. That was about $10 million of revenue. That was the original software that the company had created 40 years ago, and that was like we had three dental systems, and so we moved that to one that we have in our modern platform 'cause we offer whole person care, so we treat behavioral health, medical health, and dental health. That's one of our differentiators compared to competitors. We moved that out and still will grow as well as last year or better. If you add on the TSI acquisition, then you see that we've hit our strategy on how do we get to double-digit growth. Finally, I'll leave you with investment highlights. We are a leader in the ambulatory space. There's consolidation happening in our space. We think we're a consolidator, given our free cash flow and our cash on the balance sheet. The ambulatory market's driving the need for more sophisticated solutions. You know, whether it's consumerism, I wanna be able to get to a digital front door, communicate with my physician easily. We meet that need, or other solutions that they're looking for, value-based care. How do I contract with these insurers to get to a reasonable outcome, both on the clinical and financial side? We have those solutions for our clients. We've got a clear path to double-digit growth by fiscal year 2025 and the margin expansion that comes with that, with the initiatives that we have. We're focused on shareholder return. How do we deploy our capital internally? We do a lot of portfolio management on the organic growth side to be sure we're working on the right things. Where there are things that we can accelerate instead of building it ourselves, if we can buy the ability to get to market more quickly, we have the financial capability to do so, and we'll deploy that capital smartly. And we're a focused and energized management team looking forward to the next chapter of growth. With that, we'll take Annie's questions. We'll open it up to Q&A. Again, if you have a question, please raise your hand, and we'll get you a mic. Also for the folks staying in the back, there are some seats in the front if you wanna get comfortable. You know, I thought maybe we'd just kinda start with macro, 'cause that's been something that everybody's been talking about all week, and you're really nicely positioned. All of the pain points that we've been hearing about the hospital and, you know, provider budgets, you don't have to deal with that. You know, I was hoping, you know, you could talk about how recession-proof is your business and how are you thinking about, you know, going into the year? Nobody's recession-proof, I think we've positioned the business well from the business perspective. We're profitable, we're generating free cash flow, we're growing more quickly, we have the people we need, we're making the investments we need to be able to continue that growth and margin expansion. The business is set up well. From the client perspective, I think clients are feeling, you know, the recession, if you looked at the volumes that we're seeing at physician offices, it's up compared to pre-pandemic. People are still going to the doctor. That's good for us because then people are still looking for solutions. How can they be more efficient, either with their labor or with their, you know, their time? How can they, you know, get time back by using some of our better documentation systems, get home early? Even though the recession is, you know, affecting or the session that's coming, if we weren't one in the first three quarters of last year, then healthcare is less fungible than other things, right? You still need to see your doctors. It's not a discretionary as much as you would think. Right. You know, something that has, you know, been a, kind of, a pressure point for everybody this year has been labor shortages, but, you know, that's been a little bit of a tailwind for you. Can you talk about, you know, how that serves as a pressure point for your customers and how you're helping them through that? What solutions are they really looking for right now? I think the labor shortage affects everyone. You see it in your own costs rising as you try to attract talent. For our clients, right, some of the people that are at the front desk of the average physician office, you're competing with, you know, Amazon and Walmart and others for that kind of talent. As they raise the minimum wage or the wage that they're offering those other places, they have a hard time retaining people. Our solutions around patient engagement, how to get patients to pay online, our patient pay solutions or self-scheduling become really important because otherwise, those are phone calls to the front desk. It may be that they would like even to have more people, but they just can't attract and retain people. Those ability and those solutions that automate some of those tasks are really useful, and we see that uptick, and it's driving our Surround Solutions sales because people, even if they want the talent, they can't attract it. You'll do the things like self-scheduling that before maybe wasn't as good of investment because you had two people on the front desk, and it was fine. Now that you only have one, you need to make a change. Something everybody's been talking about this week is, you know, customers are really looking for near-term dollars to solve, you know, problems that they have. Everybody's focused very near term. I would imagine your financial management solutions are a really great way to drive near-term ROI. Can you talk about that? You know, what's really resonating with your customers? You know, how are you helping them with that? Where we run the revenue cycle for our clients, we're totally aligned with them on increasing their revenue. One of the changes we've made in the last year is we also will work with clients if they have a need, say, their accounts payable person leaves, we'll fill in that gap for them. We'll earn their trust by helping them when they have a staffing shortage, and if they never fill it, that's great. We'll just keep that position from then on and then expand from there. The analytics we have are really important as you're a client thinking about, how do I, you know, continue to keep my income up, even if the government only gave me a 4% raise, if you saw that from CMS, right? They've got to be able to take cost out, see more patients. You know, something's gotta give to make this equation work, and we help them with the analytics. Some of the things we set up, we call it the Care Collaborative, where they can benchmark themselves against our other clients and see how are they doing and where are opportunities to improve. You know, they can either work on that themselves, or we're happy to allocate those services to make those improvements for their longer-term financial viability. You know, NextGen really saw where the puck was going with value-based care. You know, you really leaned into it and made investments there. Can you talk about, you know, what the receptivity is like from your customer base to value-based care, how quickly they're adopting that, and what solutions are they really looking to you for? For the value-based care piece, there's a lot of them are looking for, how do I make this real in the time that I have with that patient? How do I not have to try to remember a long checklist of where is this patient? Have I done everything I should for their best well-being and their, the, reasonable reimbursement for value-based care? We'll show that to them in the EMR in the context of that visit. That kind of contextual awareness is a good differentiator that otherwise, you know, somebody's trying to keep track of a checklist in their mind, and we're helping them through that process. That's one thing that we're seeing. We're seeing clients that we talk to that are, right now, there are programs where there's no downside risk. We're saying to clients, "Look, we'll align with you on this. We think with our technology, and we've run the analytics on your practice, you would do better in this, in this environment, in this market. This isn't risky for you because we've run your data. We know the outcomes you're getting. You'll meet those." We're just having an aligned conversation with our clients using data as the way to communicate, to say, "We think you could do better in this marketplace, and we're happy to work with you on the tools to do so. We had our user group meeting in November, and value-based care is clearly, you know, it is accelerating the adoption and people thinking about it. Part of that, I think now that they've come through COVID, they've seen what capitated contracts can mean to their business. We are seeing a lot more interest in value-based care. They're looking for us and to bring technology and help them understand how to tackle it, how to prepare for it, how to succeed in it. We've been working with clients. The other thing I would say is we recently had a press release. I think we released that there are eight ACOs that have used our population health tool. This year, they saved $81 million, which was that same set of eight had saved $47 million the year before. We can clearly demonstrate the success that clients have using our technology. That's great. I mean, you guys are really ahead of the curve there. I remember your analysts even before COVID, you know, saying, "We're leaning into this. We think this is where the growth is gonna be." That's great to hear. David, you've been investing in growth over the past year. On the last call, you said that you're starting to see, you know, some ROI being generated from those investments. Can you talk about, you know, where some of those areas are that, you know, are maybe early return, and, you know, what's still left to come? One that comes to mind is we've invested in a center of excellence and a methodology to get things done in a predictable manner. We'll expand that to how we implement all, you know, clients going forward as implementation of there'll be a standard way to do that. That will, for us, be clearer timelines to recognizing revenue, 'cause we know that this implementation will take eight weeks. And for the client, it can be less money because we don't need as many hours to get there. We, we both win in those kinds of situations. There's other examples that we're moving things to the cloud or moving things out of the offices that I, that I mentioned. You don't just move out of an office, right? There's all kinds of electronics and servers and networks in those offices. We have to get all that information up to the cloud. Every office closure, though, in the future is making us, you know, more capital light. It's taking capital to get it moved to a more sustainable cloud-based solution. We've been doing that concurrently. We're investing a lot in the organic growth, especially around insights, on how do we come out with brand-new products, new organic products, and start to take those to market. You'll hear examples of those from us. You've heard about Enterprise Data Cloud, which is our Snowflake-based technology, where all of our clients can feed information we can benchmark across and see how they're doing compared to each other. That gives us a lot of data, which has a lot of value to us. It'll be a way that we help clients drive to better outcomes and even start to understand how they're using our software and ways that we can do things better for them to drive even better outcomes. You know, that solution is brand new, completely created by us, and it has a lot of strategic implications for us as we look forward with all that data. Other topics or even like the QHIN investment we talked about making to apply to be a QHIN. That's a way to connect to all of these healthcare entities, whether it's a hospital, pharmacy, you know, large lab or any of our physician offices, and do that connection one time. To the labor shortage, large hospitals, or large practices have people who can do these kinda interfaces for them. If you get to the midsize practice, they can't have two interface architects on staff. These are expensive people. Instead, we change that to we connect at once. They pay us for the ability to connect and to send data, and they can immediately start getting value from that interoperability. It's a different, you know, mindset, and it's one we think gets network effects over time, and it's valuing us and our clients and reducing the time to value for our clients so that they're not going through a long implementation. They don't have to hire people to watch that system. They can delegate that to us. You talked about 21st Century Cures as a, you know, kind of catalyst for interoperability. We haven't really seen anybody else reacting to it the same way that you have. How will that help you competitively? You know, where is the rubber gonna meet the road on interoperability? You know, we were some of the first compliant last year in February. Some of our competitors just got compliant this month. We feel good about where we are as far as upgrading our clients and being able to say to competitors' clients, rather than upgrade, just migrate to NextGen. Just come to NextGen. It'll be easier than waiting. That's one of the Cures Act. The other piece will be people start to pay penalties in the end of this year, beginning of next year. You know, I think that should help us as we go for new clients. There's nothing like being in the year when the penalties start, right? People are like, "Well, how come you haven't seen much Cures Act so far?" I'm like, "When it gets to be 2023 and people go, 'Oh, I've got to be compliant by the end of this year. Okay, now I'm gonna start worrying about this problem.'" Finally, the Cures Act has this idea of information blocking. I think you'll see lawsuits that'll happen there. As people start to lose or pay big penalties, I think you'll see a lot more adoption and a lot less, you know, whatever, anywhere. It'll need to start to be, you can connect to everyone because consumers will say, "I want my data. It's my data. I own it. You're blocking information sharing with me." Think about, you know, pre meaningful use when you paid $0.50 per page to get your own medical record. It's ridiculous, right? You know, people are spending thousands of dollars just to get their medical record. That's now all electronic. This is, I think, the next logical outcome or evolution of that kind of thinking of, you know, this is my data. It needs to be liquid. I'm going to see another doctor. I'd like my record to be there when I get there tomorrow morning or in an hour, right? The technology exists. It's if people have business models that don't work that way that I think has held up some of that evolution. I think they're still charging us to get our records. I definitely paid a $20 administrative fee to get mine recently. I think you had a question. Yeah. I just wanted to ask You showed the slide of, looking to did a decent job at outspending the new logo wins. I was just wondering if you could shed some light into, you know, where you're taking share, you know, what's driving that, you know, who are you typically displacing? Yes. We're, we're taking share kind of across and displacing, you know, multiple providers. There's not one, you know, provider that we're really beating. We're beating any of them, and it can be for different reasons. I'd say we do really well lately, in the last year, we've been doing really well with private equity-backed roll-ups. If you look at years ago, I'd say it was probably a headwind for the, for the company that hospitals were buying physician practices. You can imagine if private equity gets into that, into that same market, they're outbidding the hospitals. That's become a tailwind for us because our financial system is the best in class. You can make more money using our system than you can some of our competitors because we have such good analytics, really good, you know, billing capabilities, Robotic Process Automation, all these things that if you're a 50-doctor practice, you know you could make more money. I don't wanna do the hassle to make that more money. If you're a private equity-backed organization, you're gonna do that process to make more money. That will happen. We do really well in those scenarios, there's been a lot of roll-ups and activity there that benefit us. Can we talk about the TSI acquisition? You know, what attracted you to that asset? You know, what does it add to your portfolio? TSI has been a long-term partner of ours for about 16 years. They have some specialties that we don't have. They have rheumatology, pulmonology, and cardiology specialties that we think we can take and then run through our sales engine to generate more growth. When you look at that asset, it's attractive to us. They're culturally similar. They didn't have the ability to invest in things like sales and marketing to the scale that we invest. We see that as really synergistic. You know, if you kinda look at that and look at where our revenue growth is organically, that part feeds in that last piece to get us to the 10% growth or better that we're looking for. Can you walk us through your thoughts on build versus buy? When do you invest in your own products versus, you know, going to market to buy something? Is it, you know, because it gets you to scale quickly, or is it because it adds new capabilities? How do you think about that? Think about A lot of to scale, right? We wanna scale things at our size. We think about time to market. If an internal project takes six months, but we could buy someone and do the integration in three, we'd do that. Cultural fit, right? Do they meet our financial criteria? They're growing, you know, they're profitable or can be profitable under our ownership quickly, and do they have a cultural fit? We'll partner where we're not sure, right? If there's something that's really nascent, partnership is an easier option, lower risk, lower capital option, and then if it's successful, we'll do that. We've even talked about making minority investments in those cases. Let's say we partner, it goes really well. We're not sure if we wanna buy, but we wanna be able to maintain the ability to buy. We can make small investments to be sure that we're in the cap table, and we know if there's an event, so we could purchase it in the future. Those are some of the things that we think about. I think it's, you know, mainly around speed and scale. David, you have a really great background with consumerization of healthcare, you know, coming from Teladoc, NextGen's made a lot of investment in this area. Can you talk about, you know, how, you know, patients are interacting with NextGen, how you're facilitating that, and, you know, where are there more opportunities to enhance your product there? Yes, we've made really good progress on things like getting patients to self-schedule, to self-pay, some of the basics. I think we have opportunities to still help our practices, you know, attract and retain patients. So whether that's the ongoing pieces we offer, like medications refills or messaging with your physician that's really convenient for you on your timeline, or on the attraction side, it starts to be, we show our work with our clients on how do you do your SEO better? How can we show you people that have the coverage that you're looking for that are in your area when they search for a physician? NextGen's right there, able to self-schedule. There's a lot we can do on some of those sides where, you know, that's not how you might have thought of us as a traditional software provider. If we're aligned on outcomes, we're driving financial outcomes for our clients, then if we can get them to have the full schedule that they want, that aligns with us perfectly. We'll get into things that look adjacent but actually are kinda core to the value proposition we can offer to them. The consumer feels like a real battleground, you know, competitively for everyone. Can you talk about the competitive landscape? You know, who do you find yourself up against? You know, you have not just the consumer product, you're not just a point solution, you've got everything. Is, you know, that something that really attracts customers to you? Yeah, I think so. If, you know, it'll needs to be easy to use for the consumer. It needs to be easier to use for the physician, 'cause if the physician doesn't use it, then the patient doesn't get the benefit. We really, you know, think about it from both sides. If the physician doesn't wanna message with people and they'd rather give it to someone else to call you, then we've missed something there in that transaction. We need to think through both sides. How do you take that out? How do you? We have these kinda offerings directed to the right person, so not everything's going to the physician. Some of the questions could go to someone else. It's really, you know, thinking about it from the consumer side on what's a great experience, and then, okay, if that's right, then how do I make that as reasonable as possible for the physician, that they're not overloaded, and we're adding the burnout to it? Okay. Well, I think we only have a couple minutes left. In the last few minutes, what are you most excited for in 2023? We're excited for growth, for getting out some of these new organic products. The 10% growth with TSI is pretty straightforward. We'll talk about it on our earnings call in two weeks, but, you know, last year, we organically grew 7%. If you add in the growth from TSI, we're essentially at 10% growth starting in April in fiscal year 2024. We made it on our 10% growth by fiscal year 2025. It's just exciting to get there and be on track, and we're really excited to start announcing some of the new products that help us drive. It's not just 10% in a year, but 10% continuously. You'll see 10% growth in 2025 from the products we're announcing this year, 2026 from products that will come that we're working on in the pipeline. I'm excited for, you know, when people start to see that this is a multi-year 10% growth plan, that it starts this year. Great. Well, thank you so much for sharing your time with us today. We're really grateful, and thank you all for joining us today. Thank you.