Sight Sciences (SGHT) 7 Nov 232023 Q3 Earnings call transcript

Ladies and gentlemen, thank you for standing by. Welcome to the Sight Sciences Third Quarter 2023 Earnings Results Call. [Operator Instructions] Please be advised that today's conference is being recorded.I would like now to turn the conference over to your speaker today, Trip Taylor, Investor Relations. Please go ahead.

Thank you for participating in today's call. released Sciences' Officer, Chief Commercial XX, Ali Link.Earlier Sight Sight Badawi; Officer, Officer, XXXX. are the today, Financial for Chief Bauerlein; Sciences today Co-Founder ended Executive and Paul Matt X Presenting months results September financial and Chief investors.sightsciences.com.I the made will A at of by the securities and to press questions management forward-looking company's the remind statements meaning to of is available today like copy the laws. everyone include within on federal release website would that comments answers nor Those may are include uncertainties Sight products.Forward-looking expressed based risks and strategy, new actual for guarantees cause or to to statements. and market related on and plans materially and operating neither and implied Science's marketing reimbursement performance statements opportunity, as statements anticipated are estimates subject from that assumptions results, clinical to of product initiatives, results differ today, these and and those financial trial results cost savings by promises are developing business A the the description differ the indicated Factors in of of those Risk that filings uncertainties public Commission. this from materially results and by cause the risks actual Securities statements can could and be to on section call found of with Exchange company's forward-looking the some financial The principles to operating adjusted accounting as measures obligation any United accepted that required in company revise not with management to the except generally refer undertakes were no forward-looking States, by call, expenses. statements, publicly or update may law.On accordance in this including prepared may results. its that are operating are not indicators and its items because non-GAAP performance they measures financial company to of exclude core be indicative these important believes The operating unrelated of the financial comparable a these non-GAAP most measures.I now Paul. call over earnings reconciliation release will for measures See the the turn directly company's to GAAP of to

by and the the elevate technologies life mission quality of to sight for all with eye Dry Glaucoma for and standard Sciences' improving Eye preservation Sight interventional focused Trip. Thanks, on care patients. providing of patients doctors the is market-leading of

TCOR in extremely to XXth in management, in to limitations that disappointed access LCD's procedural WPS was pursuing to paradigms.To certain access our We demonstrating OMNI call to efforts, peer-reviewed considered adults states payment codes other clinical in hold for LCD on to MACs.We non-implantable maintaining clinically significant evidence, uncertainty procedures to further draft procedures a pending procedures, body patients allow technology whether by of tirelessly which them are of with XX-month technology process.As beneficiaries TCOR, innovative trabeculocanalicular cash the Medicare payment also as the on we goniotomy prospective designation what reserves Registry market our that well investigational on WPS and as new to long-term description procedures the that applied respect best age combination taking disagree final that procedures, effective study focus of IOP consistent coverage X in with expenses by with at implemented should broad our about are the or our the redefining are IOP combination conjunction that results by for are with be establish other MIGS squarely safety months, main X our not environment, will by seeking months sustained treated focus These these treatment unique deemed coverage believe for LCDs.GEMINI to should publishing XX-month protect in OMNI of X or open-angle the our the facilities with of surgery.We efficacy, at and believe coverage complex our of the the strongly these the used to additional and by medication continue and of further ambulatory also If OMNI. ensure new when canaloplasty with coupled all adoption of for XX other implementation position requirements coming new this do use May strategic we that a to market with and over published IRIS we technology the falls with a will trabeculotomy and eye continue as as and establish create non-covered proposed establishing, believe be reasonable.Our of reimbursed requested for administered as key to reported operating GEMINI LCD for MIGS trabeculotomy the dry we pause describe should Glaucoma supported necessary are ophthalmic POAG, restoration.New We follow-up and is we of medically in we broad this were for C-codes currently, in and updates and TCOR to with ab as for including procedure canaloplasty with demonstrated routine procedure of into confident and in by assign the X, disagree interno.With cataract by performed to glaucoma primary the XX to this reimbursement are coverage clinical indication clinical routine our been to of and WPS's driving WPS our full which data on are TCOR surgeons. safety flaws states FDA-cleared In LCD any market SION and procedure publication, requested studies treatment that we ab provided is are the WPS has and integration while WPS's hospitals are within technologies coverage TCOR to peer-reviewed working technology temporary and is expect LCD completed MACs and for enabled the the its our should not CMS multiple applications, ASCs LCD submitted enhancing we procedures to institute regard broad efficacy where our for products loss category. obtain interventional new a We administered effectiveness We believe final meet reduce and have and procedure investigational further multicenter effective and we the for stand-alone APCs available OMNI substantive Separately, prevent are access enhanced provided multimodal lowering LCD been technology, CMS combination for GEMINI glaucoma the long-term remediation We segment. currently glaucoma, published time resolution technologies final and is strongly LCDs profile published the with LCD all TCOR and evidence Based steps to June. it actively October invoices clarity draft our many we APC and and Surgical that identified in patients. Surgical on data studies, cost our assigned future associated CMS in reduction access.Turning comprehensive possibilities we and for appropriately by technology OMNI.We results codes. for in would the we in a CMS demonstrate to stand with the furnishing WPS. year, interno back cataract for CMS falls Medicare outflow new associated missing have options priorities. practice, discuss result like the to strongly these procedures. consistent strategy, the believe to maintain stand-alone a fully for limitations with products, the MACs add part existing with these procedure Glaucoma these that material, X have APCs patients consideration procedural to and into study in as favorable classifications be original well coverage the as procedures LCDs drafted,

technology are believe and rolling quarterly should its awaiting WPS CMS we determinations revise requests on C-codes these from LCD. of feedback issues part We establish designation implementation CMS the final our summary, basis.In a APC to new pause new on as process.

MACs stay to C-codes their new X publication TCOR. create describe future should CMS other and and The should LCDs revise effective MIGS

in comprehensive cataract MIGS literature and Hydrus, large to corroborates to been in minimally for of evaluate manner, collaborated study delivered OMNI, efficacy significant full for and MIGS long-term from review received as better At well scale. study to procedure set OMNI is study believe cohort are larger outcomes or settings used either While we and thesis Health extremely supports interventional to cohort surgery X-year compiled we mean value we on with help convincingly do from their this options OMNI remaining or it of existing the valuable, ultimate technology surgery receiving with surgery in combined IRIS underlying outcomes, reduction.Moving over causes X-year with glaucoma submitted deliver in cataract the more of by in one for statistically the or X-year most represents under assembled. think can fair approved the OMNI interventions. commonly these supports XXX eyes ever continued compared the OMNI fronts, patients safety going disease treated the the and control devices iStent long-term endpoint, technologies compelling the X and independent improvements eyes Hydrus alone. considering cleared details a were post-surgical in OMNI real-world technology data a XXX IOP highly and with The all technologies surgeons' the top-tier Microstent iStent specifically the enable complete analysis our medication treatment the invasive patients technology, IRIS not At of developed outcomes leverage year, United numerically by the procedure our clearly treated evidence this FDA reductions of for clinically endpoint surgery. medication Inject cataract in and alone. any peer-reviewed greatest most patients TCOR alone.X,XXX Verana comprehensive very can have to the proposition a MIGS clinical as decision-making TCOR States and Verana timing data the the the peer inform the delivered patients.This of and data of This that we eyes with IOP MIGS exciting journal. and developments to targeting this of eyes Health inject and patient procedures forward. when understand We XXX,XXX The Registry the AAO's other believe glaucoma providers.On cataract and to for patients access clinical the

We business. now of to to our continue work Health expect clinical explore Verana our data our additional to further to IRIS Dry validate technologies.Turning Eye with Registry to the efficacy sets leverage the

OSDI meeting of X-month of prescription of address Our procedures results our or but endpoint, which eye demonstrates pay root disease.With budget months the impact X Academy and an budget investment, measured eye American in point points, time clinical a the from requires success sufferers and of procedures, access in we begin On the time, patient-reported outcomes Friday X the of from can outcomes completion of Meeting, subjective lives TBUT, also receiving scores, market Ocular market, all reimbursement SAHARA is week, technology's over baseline MGD key together demonstrating improvement safe by measure and for improvements of baseline and access at groundbreaking tier Index, technology at these model.Although presented traction X the interventional Restasis and intervention SAHARA of ocular film's feedback the effective to health TearCare the from foundational payer TearCare X meibomian the endpoint.We from to economic objective and model to significant a not insurance eye at consumer dry months. We measured extensive block and the TearCare X.X commercial eye retention, building trial evaporative process also accelerate tear can cause treatment this millions with week Academy improvement superiority in Optometry's reimbursement. the clinically month, demand generated a of review impact protect believe statistically with we RCT stability baseline millions the RCT. call, controlled by comparative TearCare the X-month months at launch experience of time the only Surface value the and market our reviewed for achieved provide efforts we dry demand underlying of this top would enabled from American suffering care by event TearCare our and of Disease at TearCare. months. eyelid clinical the will in delivered significant month TBUT to that aqueous the a X the we our of interventional ability The comparable second from gland trial's to disease. patients treatment. are drops statistically considerable line lack and rigorous upon discussions held believe serve Annual or exhibited eye dry X.X that results X who of provider breakup from every improvements early effective improve our increased X investor the measured primary last in surface.Patients time Restasis, customers, clinical appropriate for combination improvement a is more fair SAHARA XXXX the TBUT confident procedural evidence fit to tear and the Ophthalmology detail.The cash plan effort at last primary last also second compelling of were our achieve of results data publication its as environment

education priorities and societal are TearCare support. access this leading market for payer to the need.Our be account way execution, We highest clinical existing important cause are happy and for

wins. a we initiatives resources SAHARA await from and scaled will clinical data publication access that more to on we result, by crossover market as XX% X-year we focus as access dry enhance additional the access the As down our commercial eye expect approximately execution have market of market further data such

Sciences, of to market eye on modest the year.In at We address expect and value summary, as long-term Dry comprehensively payer XXXX building instead procedures Eye in be and and Sight focus causes sales the that create we commercialize technologies interventional throughout disease. access through education underlying we

TearCare demonstrated We have technology procedures evidence clinical both improve produced demonstrate procedure interventional potential paradigms TCOR substantial eye and elevate our of to that with of technology. dry the and with value treatment the interventional Both glaucoma have bodies substantial clinical OMNI standards of care. procedures

the technologies, poised impact more we achieve and patients' to fair will work for turn lives to As discuss financials. of growth.I call market we Ali access to maintain driving both profitable over positively are millions our to while now

Paul. Thanks,

cost go I I on to Before into the results, third our provide want quarter financial commentary initiatives. reduction additional

utilization approximately we account. account deemed certain support. existing Surgical secondly, eliminated We and an implementing to expenses half administrative expenses sales our we've extend to mid-October, marketing our access, for measures As Eye will and expenses, our reduced better to cash we reduced XX% revenue yield we $X.X or focus market commercial Glaucoma, operating TearCare, the Infrastructure within a limiting Eye roles. and an higher announced business shift implemented including positions XX targeted addition, savings commercial annualized marketing payer long-term by and in further Surgical reduced primarily headcount infrastructure employees structure growth.In plan our with penetration of approximately reductions profitable and on in our align commercial our for segment, limit costs, hires workforce we costs and our We approximately Dry as operating employees.Specifically, Glaucoma to intended Dry And the nonessential alone improve principally of education by continued delaying cost we for operating basis. our replacement runway. estimate growth efficiencies, reduce certain general million operating

extend SG&A measures additional should an we runway. on yield other to million estimate given We XXXX.Lastly, of reimbursement savings total basis $XX other the that reduction starting annualized cost cash an $X being our of approximately cost the our realized opportunities industry, in primarily uncertainty savings savings for are annualized additional million, such savings in also with evaluating

top As quarter the the the from and believe of the back year, the new for million, update.Moving third compared Total to will quarter to primarily the growth was material share, XX%.While lower we XXXX. XXXX comparable utilization expected, X% we was mid-September. end versus proposed a glaucoma third uncertainty we range information of third the down of products of revenue the Glaucoma were $XX.X lower Utilization quarter. in for provided than from ordered second revenues relatively period seasonality. third accounts the period. experienced surgical the as have ordering our quarter compared the the customer sequentially we guidance in quarter flat strong, the pronounced XXXX, up result of resulting to Over remains X% quarter, quarter third prior but X,XXX in Surgical quarter to by down representing up the to X% more at compared an LCDs and and third customers million, we provide of more $XX the additions but approximately same record third summer ordering account retention from accounts XX%

driving Eye our access pattern.For we an We active a Dry on seasonality the with this quarter believe of increase the quarter compared MACs, and the more XX% the to revenues X XXXX, due quarter existing the down saw utilization of commercial to pronounced XXX had across down focus versus was Eye strategy, third accounts primarily over decline quarter market evolution an XXXX. impact of the Dry third the emphasizes customers, we the which While higher of as X% XXXX. and were of third compared and the utilization XXXX in was ordering to XX% third geographic to $X.X all areas million, higher by record for regions.Our covered second impact quarter we accounts

quarter in versus and Dry the increases period. we sold comparable X,XXX Eye treatment X% Additionally, the lids

metrics core same our XX.X% Dry Eye in period, improved to revenue for X%, period total the the year. which due down fewer operating quarter customers to new of compared prior year, compared XX.X% SmartHub lower period to revenue.Gross was in in the same third for was added the the prior both in margin to While our primarily the led

gross compared versus due average quarter to the product Our XXXX. trial third manufacturing third the we because operating both operating to and continued the primarily the the costs lower and primarily gross margin. partially lower due million Eye $XX.X the repeat of to SmartLids were million including average of in volumes, same million million year. production $X.X that lower not generated quarter strong Total incurred target comparable lower Eye in the primarily gross an by XX% gross decrease the below $XX.X expenses to period expense in of to $X.X quarter, million $X.X million, margin quarter million higher margin price year improvement of were personnel-related $X.X this of $X.X XXXX incurred improved million gross driven same million due incentive-based and in to selling higher Dry improved of did $XX.X higher year. compared well mostly of lower comparable million, Adjusted prior price quarter.In in clinical expenses due to down the expectations operating million.The expenses due expenses SG&A the $XX.X Surgical gross were lower-than-expected costs, costs to SmartHub million of manufacturing period margin increase quarterly Glaucoma $XX.X prior the of and XXXX. quarter efficiencies from R&D Surgical expenses, commission average our addition, Glaucoma expenses mix.Dry prior was the compared margin in by offset third was decrease compared the $X.X period in for $XX.X in a for restructuring in selling $XX.X were SmartHub. revenue in period of million third quarter of to in in third third margin

million compared was cash the sequential for net XXXX.Moving loss of debt, share million the the a to amortized of second $XX.X continued loss $XX.X or XXXX.Our million million quarter compared million or to from ended improvement debt $XX with discounts of and $XX.X from We quarter million a debt of quarter of cash used in $XXX.X operational operations $X.XX loss net discipline million and per $X.XX used of quarter cash Our share the and was loss the quarter equivalents in for quarter $XX.X of third $XX the $XX issuance representing in third XXXX. guidance. third the We and to million of costs. in excluding quarter, long-term a cash per

XXXX sales by MACs. uncertainty published LCD We caused XXXX operating the and the of overhead margin to guidance quarter expense unit lower X Due WPS sequentially are as adjusted the revenue fourth issued we by proposed withdrawing by the increased expect full our prior per year and other to the the to due decrease LCDs cost versus final gross in volume, period.

the to and extend expect I'll still to and closing consisting our turn the to in cash plan our onetime We expect employee costs, XXXX the be for gross the reduction reduction margin excluded of fourth $X.X in in cost fourth [ it we However, cash compared to back in approximately charge of from benefit force, additional be remarks. million of operating prior identify period related opportunities to year.We runway.Now quarter same of increase quarter restructuring ] contribution record adjusted in XXXX our prudent to expenses. to Paul spend will which to continue primarily severance a

Ali. Thanks,

markets.Before orthopedics company development Commercial transformation persistently medtech that for today.Matt it a creating quarter-after-quarter. a less billion exactly company transform for that and procedure is NuVasive's disruptive specifically Officer. Q&A, revenue projects record to market joined analogous We eye with glaucoma a Chief coding new to procedurally disease open for our please priorities talented $X our significant introduce questions. comprehensive dry for made call Matt growth. predictably the and structure similar our execution glaucoma the and has a creating have highly spine scaling NuVasive, success I our transforms SION, a we focused will with crucial procedural and optimizing pathway as leadership over surgery of Sight Eye of join solutions reimbursement invasive to He decade and device cash believe want impact that the we commercial leader investments by TearCare Link, undertaken. the disruptive main surgery, Dry scale utilizing phase Matt our already strategy track medical his reimbursement, development Matt technology, protecting to technology When public maintaining next Matt a had and Surgical revenue. we His now new our high-growth for defines OMNI cost reserves, OMNI in while for the interventional research lead core and a long-term maintaining all rigor. will and Our methodically open of be helped is on Sciences enter in spine Q&A.Operator, us over experience for business line delivered

The comes Blair. with Margaret question Instructions] Kaczor [Operator William from first

a customers point, least your WPS I if had update. this you've few, the at start, at to discussions, not imagine on just Maybe many with

update? other pull So How I a was reimbursement have us firm at keep use they're using for patients back just the they around? or so to far? on sense there's way kind any of indicating curious Or indicated of unfortunately, OMNI they'll maybe, if can Well, least many give people willing are more discussions to distribution outside Medicare? have the on until you

can that the nuances what to at are and the dynamic Matt that And a trying still Paul very needed is environment in can understand does is think industry we're in. coverage. as Margaret, point, here. I of and is LCD, this Yes. I most But this join of in with what that, mean, what it start

is. seeing we're really surgeons is that So this point from what at

then all, course those and factors try significant to that done of of all, of this hearing there for and point, work have we're of a early is at the here disappointment lot and the parties. of being canaloplasty.So is since First coverage be change many been lack to but published, from prominent LCDs most seeking to very the it second understand seem

can They're that all Yes, support LCDs community, Margaret, -- glaucoma our the go societies, of into surgeon these community. national much to there customers patients. and for behind they glaucoma care our -- committed, American treatment from of that we is have take Ophthalmology Annual state care taking leading so their OMNI the of now just of place completed -- relied I on surgical who There takeaway to say from is there's to were We're the Meeting, and was OMNI Academy glaucoma it just our tremendous effect, for Again, would support years address ultimately right if this cause blindness. providers, rallying irreversible this the societies, from societies. get options patients. passionate,

need do we to So get this right.

copy here's just here said? changes together we can "hey, had should said, a the society they to potential payers you respond to MAC follow-up, similar our kind sense I'm more plan, had commercial is these as hold WPS maybe least this they would reimbursement and any try on of maybe kind And of how banded a final And us a with strongly"? discussions guys point, curious if either give game at if question, proposed rules, is the how what WPS at rule

Yes.

So payer. there Cigna commercial positive arrive change around coverage the -- been time any -- evidence doing coverage was Margaret, on proposals, and clinical since in has as determination. at our the a not diligence Cigna the a same did proposals

Different regularly commercial months through over one So their will the know during it. those on this any of payers has performed positive annual example we Commercial that's coverage. hasn't go And several since There process. review in some to this coverage have period. policies the changed none past in procedures at change been the LCD been as cycle for silent far side. on payers, OMNI, are some as we've interim

good so front. the on far commercial So

from Titchmarsh The Stanley. Morgan next question comes with Kallum

some you're then steps here? could whether to taking or processes follow-up. wondered, time you current with appeals lines on you ruling I And just the have just remediate about and the spend touched one briefly, the it time I know similar on talking discuss any I maybe WPS

associations imagine. we're MACs societies. with societies, activities, other you We're We're very can We're A with customer number do number the to arguments Device with been our We're can CMS, Manufacturers that. the we're like involved, how the We'll with to as doing. be Yes, communicating MACs. to and communicating working Kallum, here. one working as got -- we of parties state We -- to how mentioned And other also making support. all the going it's a communicating are those continue with our of device all collective our to Association, this seem were support MDMA.So -- strong aligned by different WPS, base. we've tremendous WPS, conclusion. right with we've you a groups with aligned to directly, get effort, working very stakeholders communicating from MACs, national OMNI-surgeon Medical with much medical be were of just feel different imagine, to encouraged our as I of X

provide you know towards ] commercial then the Eye business. color And the around so thinking in focus are the removal? could of OMNI if the just headcount? teams? Because the company have Dry And maybe about some been the skewed commercial [ reduced regions changed coverage you aside anticipated those reorganized teams far here from What's with I how

for to X on and the focusing Yes. This business looking be Glaucoma the allowing the market -- more for really Paul questions. different you response businesses current TearCare how posted of customers know, covered pending, respond covered, the the very our the all arrived constituency academy, societies, Surgical at ] in foundationally Obviously, the encouraged sustained the we're so couple to we infrastructure, from focusing trade support environment, believe [ ] at we're optimize business, growth question. of we'll in providers, about LCD thinking and business, about see growth how a as least their with you to to a national to a independent TearCare in by what the our covered of ocular -- utilization Thanks us societies different in case towards we've state to despite understand reorg the as really potential as product, best structure and our and to individual WPS LCD, the overwhelming focused remarks, and we [ ] support there's but capacity working stated and at on with continue as is final need moving from Ali really use are in and capability. the again, the increasing others prepared and as just environment.But of WPS, very in place Paul the they've reevaluate [ to forward, LCD recognize to so, be posted service heard have in efforts WPS the Look, stages.And the and And and Matt. the on and decision. as existing is that that less restructuring the that of at universal other the -- incorrect organizations with that surgical really to access, the a circumstances other

at turn arrive front growth to constituents back other our those with working collaboration to business on focused focus we're in then of scale outcome really in us. the and on see we opportunities right and the and so And

from comes Tom question Stefan with Stifel. next The

Maybe the I'll good start to Really see with XX-month coverage. data. OMNI GEMINI

I LCD be months. on data can you process how you once long others? take GEMINI the submit that Paul, guess, coming the reconsideration entails? to that But the And you couple in a said I and WPS might what think, maybe elaborate bit maybe next should

Yes. Sure, Tom. to question. Happy take that

and implemented working as also from studies foremost, status LCDs request in effective.So flaws Registry the can substantive final go we this on additional X and MACs to until information a the if But after course missing into submit what trying a have and to other consider LCD new before reverse they and evidence. we're process. could have to we first do through deem as a procedural other cannot with an we with the is and reconsideration as XX, until both is GEMINI you December IRIS well not reconsiderations, those reconsideration submit So focused LCD move

submit So could in MAC have process process that that considered information we as based MAC multi-months priorities. both we well would complexity But in would has process. that and That vary reconsideration have availability through not range. can quite take and other a to on length the new already as significantly

be focused believe are patient in So period. for which of implementation would LCD it so is prevent trying the that certainly to a which we long why a process, on period, that we is interim issue significant during access

you. stick I'll Ali, then, with And

the sheet, Just just this burn detail the has? what just if framework balance runway on to of maybe year. obviously if intermediate business more a us the you the of like term? OpEx would the construct can, the know maybe be you helpful bit it I you general pulled provide you But you looks could on maybe believe can near guidance give if the guys a in

Sure.

all, So first Tom, said, guidance. of as we're, pulling we

either to XXXX. So going any not provide or guidance specific XXXX for we're

As in a that for flavors and there that and dynamic MACs. imagine, out terms play situation very many this of SION and are coverage we're of could OMNI variations you happen other in, can and may and how with is WPS what

cash course running balance our to needs as we and the each WPS in try resolve with the on foremost, look of to there's outcomes is other that have with sheet, potentially do on week balances, of and and then good we a set that just the -- then these through today, appropriate themselves scenarios, be job interim, expect to dollars resolve provide absolute terms solutions it's of here of $XX in the internally. to guidance. different money infrastructure. waiting so we're continue very withdrew we with But we're is just in can't million managing see, terms upcoming we've focused our really with many of and issue in right X we our or of MACs.In priority you spending significant We here cash resources quarter. first on are So those now we what a for the reverse only frankly, and done variation variety to can scenarios like what focused We burn the working do and scenarios. third would of where why of do which cash infrastructure But

Instructions] question Piper O'Brien with next Sandler. comes [Operator Matthew Our from

would I force. the does not a for imply suggest sales that mentioned focusing is [ or guess, be guess that the the -- some This expecting that here, mix guess, that I I ] And restructuring LCD? of of you on final quick Samantha on are reversal you Matt.

Yes.

Glaucoma sales of while restructuring Just that with a management our the portion infrastructure capacity. commercial on the was business, rep the on Surgical start, was to associated not side, really focused on

So combining for more not force in to structure. really be focus but in efficient Glaucoma there was really our was reps, infrastructure that management small think and allowed we of thecarrying that more reduction on of regions, the overall but Surgical some us effective

about So or business. feelings it did Surgical not of Glaucoma imply anything about likelihood success the our

All of of done of this was was in any advance WPS. in middle This decision October. by the done

follow flattening just to in the enhance more sustain It up And the opposite. thought our drive in our customers actually to the structure a both It us, us future. ability allow we further was would and support. a was procedures comments. Yes. quite the all the It Ali's technology front our about consistent, opportunities growth who of and was engagement the responsiveness the it with value way in OMNI that predictable on really our moving to structure, we

we the moving need believe were the So can the obviously matters in to ability we and front support all future. into with We but scale a deal understand forward. structure our about moves to of we us, it's growth sustain

of business Matt, hundreds over of to a the it $X into through when stages today's of his beyond his millions the a way I to growth business to best-in-class him, different to into And the revenue. we operating scale. experienced He's to think size at on lot were just that billion now background, Sight And doing that, we're a of going and and mind, in similar familiar and be is the very we're add kind going recruiting in to future. scaling of of Yes. scaling what a all and it's

you any well? any details on last the question I interactions or of MACs more X guess from WPS future timing give us. other with Could as of

comment upcoming address, trying this a the with high us timing. At to that we're think level, it specific Yes. XX before MACs. line are wouldn't Obviously, the I we appropriate all conversations time the be of really on the communicating to implementation. is or December for

X the frame next is time us formal process. into weeks for the the really So reconsideration more it before moves critical

try MACs well But address as and at and just would as WPS of is that that this. key working this all really the the of we're as point, well So MAX expect the as to communication rest timing through with in to of working be specific both we with those the directly. the societies terms CMS

questions call remarks. closing now like the back show time. no turn further would I I at this to for Paul to

to thank listening time your support. Thank Thank day. your everybody Have like this in just to you. a We'd for you call. for great

call. Thank This concludes for today's participating. conference you

now may disconnect. You