Good afternoon, everyone. W elcome to the JP Morgan Healthcare Conference. My name is Kyle Aikman, and I'm an Analyst on the Healthcare Technology and Distribution Team here at JP Morgan. We're thrilled to have Sharecare with us today. Presenting is CEO Jeff Arnold. We're gonna do the presentation first, and following the presentation, we'll do a Q&A. We'll have mic runners if anyone has any questions. With that, let me turn it over to Jeff. Great. Thanks, Kyle. Good afternoon. Good to see everybody. Looking forward to walking you through Sharecare in the next half hour. Kind of starting off, we created Sharecare about a decade ago, and the idea was how could you build a consumer-driven healthcare company that could connect the person to the ecosystem, a very fragmented ecosystem. How could you connect the person, to their health plan, to their employer, to their doctor? This kind of disruptive idea is something, a path that I've been on for a long time. I started WebMD way back in 1998, you know, trying to figure out ways to empower individuals. This idea, this disruptive idea of how do you truly empower somebody to take control of their health has been an interesting journey, and one in which we've taken approach that we wanna be disruptive, but at the same time, not disenfranchise key stakeholders. Along the way, over the last 10 years, we've built some really powerful digital allies. We have a lot of partners that have invested in Sharecare on the enterprise side, on the provider side, and we have many life science companies. It's been a journey to achieve scale, and which one that we're rapidly approaching on, where today we have over 12 million covered lives, in which we get paid on a per member per month in our enterprise division. This year, we'll collect over 6 million medical records, and we have over 8,000 clients on the provider side. Like us, you know, many organizations within healthcare are moving towards this ecosystem play. A few examples that I put up here on the slide are some ones that we're very familiar with. We see, you know, the CVS Health of the world building out their ecosystem, most recently with their Signify acquisition. You see Walgreens building out their ecosystem, whether it be VillageMD or most recently CareCentrix. We're all aware of what Amazon is doing within healthcare with One Medical, PillPack, and others. We think the trends that support this similar ecosystem approach are the need for ROI. You know, our clients are really asking for return on investment. This move towards value-based contracts, where they say, you know, over $1.7 trillion moving to value-based contracts, and regulatory changes around price transparency. For the last decade, we have been investing significantly in building out this comprehensive ecosystem. We've made over a dozen acquisitions, so we've acquired companies in tech-enabled home healthcare, provider services, community services, and health AI. At the center of this digital-first ecosystem approach that's centered on the person is all about identity management. At Sharecare, we're indifferent on how a user originates onto the platform. You could join Sharecare via your health plan. You could be maybe one of 2 million of CareFirst's members who have access to Sharecare. You could join Sharecare via your employer. For example, we have over 80,000 Delta Air Lines employees on the platform. We have over 200,000 teachers in the state of Georgia. Your doctor could prescribe you Sharecare, or you could download Sharecare as a consumer. At the heart of that identity management and consumer-first approach is a lot of data. I think Sharecare is building a very big data business. We have self-reported data, we have device data, we have claims data, we have social determinants of health data, and we have medical record data. Just tons and tons of data, and I'll show you a little bit more about our data platform. What we do is we take that data, and we acquired an AI company called Doc.ai, and we generate insights from all that data. Those insights generate actions that help us achieve the triple aim. We bring those solutions into these three segments, our enterprise segment, our provider segment, and our life science segment. Growing meaningful engagement is really important to Sharecare, and it's very much in our DNA. You know, someone who started WebMD back in the late nineties of how do you create, you know, award-winning content, more importantly, get people to take that important first step to engage in their health and try to move healthcare from episodic to every day. Not just think about healthcare when you're sick, but think of healthcare every day. The capabilities that we've assembled over the last decade that I'll talk to you about today are about our digital front door and the capabilities we have there, our data analytics platform, our digital therapeutics, our tech-enabled advocacy, our provider integration, and our tech-enabled home care. Then as I take you through those capabilities, I'll end, and I'll talk to you about aggregated value. What does it mean to have all those capabilities under one roof for your clients and for your members? Starting with the digital-first front door, this is hugely important. You know, where a lot of organizations fall down is getting people to actually activate or to onboard or to participate in their health. Sharecare does a really good job here. It all starts when people register for the platform, again, from their employer or health plan or from their doctor. The first thing that we ask the person to do is to take the RealAge assessment. Think of the RealAge assessment as the most taken ever health risk assessment. We've had over 50 million people take the RealAge test, and what it does is it gets your lifestyle and your medical history information and tells you what your biological age is, not your calendar age. It's a great way to get people to onboard and understand their risk. From there, we've made investments to do daily tracking. We're tracking people frictionlessly on their steps and sleep. We've built engaging challenges. We've built a really robust rewards and incentives platform. In the US, there's $80 billion that's put forward by employers and health plans in the form of incentives to get people to engage in their health. Sharecare tracks all of that, distributes those dollars, and provides those actions. We've built a really robust health profile. The idea here is, because we have so much data, on behalf of you as the person, without you having to do anything, how can I fill the buckets of data on your behalf? Every time you go see the doctor, every time you have a lab, every time you fill a prescription, the data is automatically updated within the platform. If you are ever to leave your doctor, change your job, or leave your health plan, your data goes with you. That's one way that Sharecare differentiates in our data approach. Lastly, as it relates to the digital front door, we've made over $100 million in investments in understanding the social determinants of health. We have an award-winning Community Well-Being Index that measures well-being, physical health, mental health, financial health, and sense of purpose and community at every zip code in America. We use that to benchmark our effectiveness with our clients, and to a user, think of it almost as displaying a ways for well-being to the user. Based on their location, how do we help users understand how to make the healthy choice the easy choice? We put all this together in one platform on behalf of our clients and users, and what we've learned, you know, that content still is king. To really drive personalization, you have to build a really engaging experience. What's nice about Sharecare is we generate approximately $80 million a year off our content. We get hired by pharmaceutical companies, and they come to us and say, "How do we, can we access your 115 million member database, and can you help us activate people, say, that might have fibromyalgia to look at your award-winning content and go to their doctor and have a conversation with them?" That part of our business underwrites all our content development, which then we turn around and fuel our enterprise experience. That's how we create this really personalized experience. And it's very differentiated. I mean, we have 265,000 pieces of content that are original, that are NCQA accredited. We have over 110 organizations on the far right on the bottom that contribute content to Sharecare annually, at no cost to Sharecare because they wanna be a part of the platform to communicate to those 115 million people. Lastly, we have a pretty profound social reach. Nearly 3 million people follow us on social. If you were to take our entire client base and added up all their social followers, I don't think it would add up to 3 million people. It's another way that we really differentiate. It gives us great pride when one of our employer clients, for example, is asking their employee to follow Sharecare on Instagram because they know it's gonna reinforce good health tips alongside of what they're getting within the platform. The second piece of the puzzle, and arguably the most important, is the data infrastructure that we've created at Sharecare. I think I mentioned all the different ways that we get data, but the way that we put that data to work, using our AI and our personalized experiences is think of the far left as kind of data inputs. Where Sharecare is getting data, for these inputs is through digital engagement data, so what you read, what you view, what you don't read and what you don't view. External data, so the first time an enterprise client logs in, we've already, uploaded all your procedures, conditions, medications, immunizations, in-network, out-of-network providers, all your incentives. All that data is preloaded before you ever do anything. As I mentioned, we believe environment is as important as your genetics or your lifestyle. We have at every zip code in America, where you live, work, and play, we're looking at the five domains of well-being to help inform us. We have application interaction data. All the learning tracks and care plans that we're delivering through the platform are tracked. We have a pretty robust, not only high-tech but high-touch services. We do disease management, advocacy, and others. All that information is tracked, and we put that all through our system, and we have a proprietary algorithm that takes that data and generates a risk score. We're looking at a risk score on an individual. We're looking at a risk score on a population. That gives us not only financial risk, but also clinical risk. That allows us to talk to our client that if we're able to enable Sharecare to those populations, what the expected financial savings might look like. With that information, we then risk stratify the population, and we have a twofold approach on how we put that data to action. One is what we call self-directed care. You know, how do I give you self-service healthcare? With everything that I'm gonna talk to you about today, you could do on your own. You don't need to talk to anybody. At the bottom, also provide high touch care. If you need a coach, if you need a nurse, if you need an advocate, that advocate is one touch away within the platform, 24/7. Our first line of defense at Sharecare is digital therapeutics. As we risk stratify and we identify issues of risk within the population, we've assembled an array of digital therapeutics. During COVID, we acquired a company called MindSciences, which was started by an MIT neuroscientist by the name of Dr. Jud Brewer, who's our Chief Medical Officer. I think his TED Talk has been watched over 15 million times. He has this evidence-based approach that generated over $10 million in NIH grants and others to show the effect that mindfulness has in helping people have a better relationship with food, helping people manage their anxiety, their depression, helping them stop smoking. We, based on Dr. Brewer's science, have built out many of these digital therapeutics. On Monday of this week, we had an exciting announcement that the CDC recognized that and approved our DPP program for the first one using a mindfulness approach. It's a big deal for us because, one, we didn't have to go acquire something, right? We took something that we already owned and our weight loss program that was award-winning, and we put the CDC protocols over the last year against it and got it approved. What we're able to do with that is we're able to go to our clients. Now keep in mind, we've got 12 million people on our platform, and it creates upsell opportunities. One client that comes to mind, I know, has over 400,000 members that are pre-diabetic. The way that works is we get, can get paid now up to $800 per member if they achieve all four milestones. Just adding that new service to this large installed base gives us not only great offerings for our users and our clients, but great revenue potential. When you have an ecosystem approach on this one platform, and you have a large installed base of business, what we're always trying to do is look for ways to solve for vendor fatigue with our clients and understanding what are our clients buying from others, that if it was integrated, it would be better buying experience and be more effective for the user. About 18 months ago, we partnered with Elevance, which was Anthem at the time. They made a $50 million investment into Sharecare. What we did with those dollars is we invested into a multi-payer advocacy solution. I'm happy to say that on 1 January 2024 of this year, we successfully launched that advocacy solution, which we call Sharecare Plus, to hundreds of thousands of new members. So for me, for example, as a Sharecare employee, you know, I was on Sharecare doing all the digital front door stuff, and then all of a sudden, I woke up one morning, there was a little blue circle on the bottom of my timeline, and when I clicked it, on the other end, I was able to message or talk to an advocate. What made the experience super powerful is all that data that I've been talking about has been packaged in what we call a Care Console, so that one individual had a full view of myself and my entire family. Now I can see all my medical benefits, my dental benefits, my vision benefits, my pharmacy benefits. I have a family advocate that works on behalf of myself and my wife and my four kids. It can give me in-network recommendations, it can give me care gaps alerts. Not only does it do family advocacy, but we've been working really hard to go up the clinical advocacy ladder. Things like emerging risk care management or precision clinical outreach are now available through the Sharecare platform. Think of this as $10 million of in revenue on a brand-new product launch that, knock on wood, has gone really good as we've launched it this year. What's really neat about the service is not only is that advocate on the other side for the first time with that holistic view of the data and can talk to myself or my family members, but they also have the analytics and the authoring tools to deal directly with me through the app, which is the way I prefer to kinda interact with these types of services. That's allowing us to increase our ARR per customer. Think of this as in tiers, right? We've got this one platform. We continue to add capabilities. Think of tier one, think of the digital front door as, how do I improve well-being? This is us selling to our clients. What you might get with that would be provide self-service for members to browse and manage their benefits or deploy targeted interventions, recommendations, and incentives for doing activities. That would typically cost about $1 to 2 per member per month. We add family advocacy. That changes the price from $1 to 2 to now $6 to 10 per member per month. What we're providing there is advocates with the ability to navigate members to the right clinical care, so high-quality providers, low-cost imaging. It's allowing us to leverage digital therapeutics to reduce chronic condition risk and close the highest cost care gaps. Tier three, which is now allowing us to charge a $10-plus PMPM, allows us to deploy within the platform, with a view I just mentioned, a team of healthcare professionals for employers' holistic health. That includes in-home care, which I'll talk to you about in a moment, as well as oversee complex case management. Because we're a digital business, all this is transparent. We track everything. We have a 73 NPS platform-wide, look for opportunities to show savings. In this example, savings per avoided unnecessary ER visits. We look to show reductions in things like readmission rates, but our definition of transparency is make the data fully available to our caregivers and users real-time. All these services are really giving us confidence in the data. The engagement data that we get through the digital front door, the overall analytics platform, the digital therapeutics, Sharecare+, our advocacy solutions, it's giving us the data confidence that as healthcare moves from fee for service and even to more value-based contracting, that Sharecare is really well-positioned. Having that connectivity with an engaged member is what we think is critical. In addition to getting paid to create content, remember when I said we make $80 million approximately a year to create content, that fuels our enterprise experience? We get paid to collect data as well. I think this is kind of an amazing part of Sharecare that when we started Sharecare, the vision was all your health in one place. Since day one, we said, we have to get all your health in one place. To get all your health in one place, you have to have access to your medical records. In 2013, we set out to figure out how to do that. As we sit here in 2023, we've built a $100-plus million revenue business that has now 8,000 clients across the country, in which last year, we collected 6 million medical records. With the Cures Act coming and this push towards more interoperability, we think we're really well-positioned. what I get most excited about is not only the revenue and the EBITDA that that contributes and the 20% plus growth rate that we have within that division, but what a great way to differentiate our enterprise solution when I can say to Delta, with the push of a red button, you can get all your medical records, and with your permission, I can share that with your advocate, I can share that with your caregivers. We also pride ourselves as being a very innovative company. You know, we listen to our clients. Again, what are all the various solutions that you're buying that is that we could make easier to adopt. When COVID hit, like all of us, we saw this huge push to the home, right? Not only for convenience, but for cost reasons. Most recently, we've seen tons of acquisitions in this area. I mentioned Signify. The first acquisition that we made, shortly after going public is we acquired a company from Generali. Generali is a large Italian insurance company, and that company is called CareLinx. We saw CareLinx, and we had been working together with them, bidding on some clients. I said, "Wow, this is like Match.com meets Uber for home health care." You basically go in, you type in a ZIP code, you look at profiles, and they have 450,000 background-checked, trained, tech-enabled caregivers. The big thing that happened within this space is Medicare approved ADLs, which are activities of daily living, as a supplemental benefit. We acquired this. It was doing, you know, $5 million in revenue, during COVID. This was less than two years ago. That revenue we've 7x in less than two years, and we've been able to add over 2 million Medicare Advantage members, in the last two years alone. What that's really setting us up to do within this one platform is be able to have longitudinal non-medical home support, in-home clinical assessment, including medication reconciliation, in-home code capture for risk adjustment. Think how powerful this is. This is like becoming like the eyes and ears in the home. I'll use my mom as an example. My mom goes to sign up for an MA plan. One of, the supplemental benefits is CareLinx. That means she can get up to 12 hours a month in the home for free. She can use that, those services for things like transportation, you know, take me to the doctor, companionship, social isolation is a huge issue, meal prep, and other things. Now that that person's in the home with my mom 12 hours a month, they're building a relationship, and then that's becoming the eyes and ears, about to do things such as risk adjustment, in-home care gap closure and end-to-end scheduling and transportation. Has my mom had her annual visit? Does she need a ride to the doctor? It's becoming our version of Geek Squad. You know, like how Best Buy has Geek Squad. Remote patient monitoring is obviously a big deal. My mom has no idea how to use those gadgets, and so she needs support. Our team can help with that. Then it's ongoing behavior modification support. Again, building a relationship in a convenient, low-cost setting like the home. Lastly, what this all leads to, you know, all this hard work for 10 years and all this investment and all this effort to get scale is, what's the aggregated value story that Sharecare has for its clients and for its members? I look at this box on the far left, I imagine how difficult it would be if you were running a benefits department or if you were running a health plan, and you have so many different vendors and trying to pitch you these various different services, how hard it would be to make those buys and procure those services and then deploy those and get people to onboard into it. With Sharecare, think of us as this one-stop shop. Over the last 10 years, we have built the care delivery models. We've built the clinical products, and we've built the clinical operations. What that means is that we today now have something that's truly interoperable. All the data talks to each other. If I was to pull out my Sharecare enterprise app, I could show you this. Something that's user-friendly, so I don't have 15 different navigations that I have to figure out how to use. Then in some cases, maybe even more importantly, is it's more affordable. Our studies have shown that when you buy a package like Sharecare rather than buying the pieces, that you can save up to 40% for those bundled services. From a financial standpoint, you know, we are scaling. You know, we did $100 million in first quarter last year. We did nearly $115 million in third quarter. What differentiates in our space is, although we're doing a lot of things, in an effort to solve a very complex puzzle, we're showing positive adjusted EBITDA. We had $1.8 million in positive EBITDA in first quarter. We had $7 million in positive EBITDA in third quarter. We'll be announcing fourth quarter earnings in March. That's where we'll give guidance for 2023. We continue to have no debt, and we have a very strong balance sheet of over $200 million in cash. Lastly, the KPIs that we're focused on are eligible lives. These are our government clients, our health plan clients, our employer clients. Today, we have over 12 million covered lives on the platform, and we'll continue to grow that. We'll continue to add new capabilities for those covered lives. We'll continue to cross-sell. Secondly is on our provider business is one of our KPIs that we follow is records processed. You can see how that number has grown from 4.2 million in 2020 to approximately 6 million in 2022. With that's Sharecare, and I appreciate you taking time to hear the progress we've made over the last 10 years and be happy, Kyle, to take questions. Awesome. Well, sure covered a lot, so I'll dive into the areas maybe you didn't cover or want to dig in. You know, a major theme of the conference so far has just been the macro backdrop when it comes to providers, employers. I'm wondering if you could walk us through these three segments of your business and how your client and prospect conversations have been trending recently, given the backdrop and, you know, things like that. Sure. Yeah. Obviously, challenging times. When I break it down into the three segments, enterprise, provider, and life sciences, on the enterprise side, you know, I'm just a believer that the option of doing nothing is not an option. You know, healthcare costs continue to go up. We're still suffering this great resignation. Wellbeing is a big focus and an authentic culture of wellbeing, and I think Sharecare is really well positioned for that. I think our brand's well positioned, our services are well positioned. Giving consumers or members access to their medical data is the right thing to do. We've been investing heavily in sales. When we went public, I think we had five salespeople. We have over 30 now. We don't lose clients generally, so we have really high retention rates. We've built a really big pipeline that's starting to convert. We have all kinds of opportunities to cross-sell. One example of that is 8,000 health system large provider clients also are great opportunities to convert to employers. In Atlanta, for example, where we're based, you know, 25,000 of Emory's employees are also on Sharecare. 25,000 Wellstar, which is the largest health system in Georgia, are on Sharecare. How do we go into all those medical record clients and convert them into enterprise clients as well? On the provider side, just from a macro standpoint, that's like our steady Eddie business. You know, it's like we've gone. When we started in that, we made a small acquisition for, like, $20 million or so, we had 800 clients, and we've grown that now to 8,000, you know, over the years. You know, we're the high-quality provider. You know, users I showed you, we've gone from 4 to 6 million, we see that continuing to grow. This is our biggest growth year ever coming out of 2022. I would say to where we felt the biggest headwind has been in life sciences. I think there's just 2021 was a huge year for us. Our life science business grew by 37%. We're lucky to hold serve in 2023. You know, just with the overall macro environment, there's been a big pullback, on some of the brand spending. That's great. Speaking on the macro and just visibility, you mentioned guidance. I was wondering if you could walk us through the predictability of your revenue streams, how it relates to growing lives and PMPMs, and just in a given year, you know, how do you think about guidance, and what kind of visibility do you have there? Yeah. On our enterprise business, those are typically three-to-five-year contracts. When, when we win a state account or we win a large employer or health plan, those are typically three to five years. That's pretty predictable. You know, the medical record business, you know, like I said, we don't really lose clients. We've grown, as I said, 800 to 8,000. The goal there is obviously keep the clients, add as many new ones as we can. Where we've done a really great job there is cross-selling. We have this capability to extract medical records digitally. On the enterprise side, we have all these health plan partners. Anthem invested $50 million. Blue Cross Blue Shield of Arizona invested. Blue Cross Blue Shield of Maryland invested. Aflac invested. Swiss Re invested. Quest Labs invested. Lots of different folks that now see that we have this capability to extract records. On the payer space, there are many of the payers that are clients of ours are now using us for audits to pull that data. On life science side, it's very seasonal. It's a lot of the activity is fourth quarter kind of backloaded. Awesome. Just, you know, talking about patient data and data in the broader sense, you know, key trend that we've been seeing on a legislative perspective and just a broad perspective is interoperability of healthcare records and things of that nature. You know, on our team, we try to think about, you know, maybe what perfect interoperability might look like, how we could get there, and it's definitely a hard question to answer. Wondering if you had any thoughts on that. Also just how Sharecare is enabling that through your business. Yeah. You know, I think that there's three major themes is interoperability, user-friendly, and affordable are three really important themes there. I think we've done a better job than most in interoperability. Like when you think about our data sources all working together in one platform, and we've had 50 million people take our health risk assessment, right? That's self-reported data. Mm-hmm. We bought a company in Berlin so that we could do device-driven data. With your consent, I'm extracting all this data from your own, your geolocation, your sleep, your stress, your activity, claims data. You know, one of the things that we decided to do early on, even though we weren't really, we weren't even getting paid for it, is we wanted access to the claims data so that the first time the user logged in, all the medications, procedures, immunizations, care teams, medications were all preloaded. It felt like it was data rich. We could take that data and create what we call data-driven dialogue. The content that I then put in front of you matched your data, hopefully in an effort to lower risk. Being way in front of the social determinants of health data. If you're curious and you go to Sharecare.com, click on our Community Well-Being Index, you can download the report, and I think you'll find it super interesting on how we use that. Then we have the medical record data, and so that's pretty interoperable. Awesome. I just wanted to open the audience up for any questions, if there's any of those. Otherwise, I can keep asking. Cool. Another area we've dove into has been decentralized trials, especially through how COVID accelerated some of those trends. I know Sharecare sits at a pretty interesting point in that and is doing work in that market. I wonder if you could touch on your outlook for that, you know, where that's gonna trend and how Sharecare is helping that. Yeah. We acquired, as I mentioned, a company called Doc.ai. Doc.ai has done a lot of work in AI and creating models from large data sets, a lot from Anthem. They had a really strong partnership when we, when we acquired that and have built products called SmartOmics, which is all about decentralized clinical trials. The way I like to think about it is, you know, from an engagement standpoint, how do we, how do we give our users opportunities to train AI models? Everything from like taking pictures of your food, and verifying that that is what it is, and this is what the calories are, this or that, we allow our users to do that. We've integrated what we call the medical selfie. I could pull out my Sharecare app right now and take a picture of my face, and I'm prompted to do that on a regular basis, and it shows my BMI changing over time. I can take pictures of all my medication bottles, and I'll make sure that I'm tracking them daily. I know when they need to be refilled, know that there's no bad interactions between them. We have relationships with all these life science companies who use us for the reasons I described earlier. It's connecting those dots, like letting our users participate in these AI models, giving them practical tools that they can use on a daily basis, and then using that to recruit for clinical trials. Our approach has been through these decentralized ways. That's awesome. Again, pivoting gears more towards your strategic review you're going through right now. I'm wondering if you have any updates you wanted to share on that and walk us through the thought process there. Yeah. I mean, just the thought process was, you know, as we've gone public, we went public via SPAC. There's been a lot of pressure on SPAC stocks and digital health and high growth. With inflation and other things happening, our neighborhood has been impacted. We've looked at some of the parts analysis. So, we said, "If I was to break these up, you know, I need to have a good marker on what are these worth." What is our enterprise business and our provider business and our life sciences worth independent? Although I'm a big believer that they work really nicely together. Hopefully, I articulated that today. We're in the middle of that process. The good news is tons of interest, tons of activity, lots of conversations. We hope to be through it by the end of first quarter. If anything comes up before then, obviously, we'll disclose it. Awesome. That's really helpful. I think a big focus today has just been on customers and end users of the Sharecare platform. I'm wondering how, when you're selling, how you know, measure the ROI you're providing to your clients, what they look for, and if you have any anecdotes on, you know, that process. Yeah. We love our risk scoring side of our business. I think I showed on that data platform where you have inputs, and then those inputs, we run against algorithms that we've trained these models off huge data sets, and it generates an individual risk score and a population risk score. It's not only, as I mentioned, a financial score, but it's also a clinical score. Then we're able to take that view, segment the population, and then recommend various interventions. Each one of those interventions that we recommend have various KPIs and ROIs that are associated with it. That's kinda how you buy Sharecare. If you're buying the digital front door, what you're looking for there is: Do people onboard? Do they earn their incentives? If you're buying our digital therapeutics, what you look for is what's the evidence that they work? Do people lose weight? Do they stop smoking? Do we get people enrolled? What we're charging them, is there a positive ROI against that? Then there's all types of opportunity with advocacy. I showed you that slide of the different tiers, you know, $1 to 2, $6 to 10 and above. Each one of those little lines have ROI metrics associated to it. What's great about Sharecare, and I mentioned it, is that we provide these really robust dashboards to our clients. This isn't like monthly, quarterly, annually reviews. This is log on right now, and you can see for yourself if it's working or not. That's really interesting. You know, I know we've touched on it a lot, but I kinda wanted to take a general or broader view of the digital therapeutics market. You know, I know you've mentioned there's a lot of point solutions, and Sharecare is a bit of an aggregator there. I'm wondering if you could speak to the other differentiating factors for Sharecare and just, you know, on a broader sense, how you view the digital therapeutics market evolving over time. Yeah. I think it's a massive opportunity, and it's an enormous TAM, right? If you look at all the various conditions that a digital therapeutic addresses. The approach that we've taken is first get scale, right? 10-plus million covered lives and growing. Now we have scale. What's interesting with scale is it makes it easy to partner, 'cause these are long sales cycles. Let's say you're a maternity solution or you're an MSK solution, and you're in there all by yourself trying to sell to a particular employer. It's a long sales cycle, and it's playing into that whole vendor fatigue and consumer confusion. If you partner with Sharecare, and we've partnered with many, Ovia for maternity, a bunch of them, you know, you know, a bunch of different digital therapeutics, it gives us more things to sell, and we integrate it into a platform. It gives us a great try before you buy. We've partnered with some of these digital therapeutics in the past, integrated them into the platform, sold them to our clients, got good results, and then acquired the company. It's a nice, you know, kind of a try before you buy. Then I'm just a huge believer in building off of what we have. We've got this, you know, great asset. We acquired MindSciences. We took the founder and made him our Chief Medical Officer. He was running the mindfulness lab at Brown University, left that position to join Sharecare, full-time. We're taking that body of science, and we're saying, "Let's keep building on it." DPP, diabetes prevention, was the one I mentioned today on Monday. We've got addiction coming, high blood pressure, hypertension, we don't have to go out and spend hundreds of millions of dollars buying these solutions. We create a better user experience because it's just fully integrated. We're using a common voice in mindfulness. It's not so jarring to the user because our users are on the platform for multiple years. They might have back pain one year, pregnant another year, trying to lose weight both years. We kinda have a common voice that we use, mindfulness. Awesome. That's great. Then maybe just wrapping it up, wondering what you're most excited for in 2023. Better than 2022. I think we're all on that wavelength. Yeah. I'm crazy over this generative AI. I just think it's completely fascinating and just what's gonna happen there over the next 12 months as more information gets processed and storage comes down, and how companies like Sharecare, in a do-no-harm approach, can figure out how we can leverage generative AI with our proprietary data and interventions to have a really meaningful ongoing dialogue with our users. I think it's gonna be amazing. Awesome. Well, that's all the questions I had. It was a pleasure. Thank you for presenting. Yeah, thank you. Appreciate it. Thank you.