In the world of business, accounting is often seen as a painful necessity. But what if it could be a strategic advantage instead of a chore?

In this episode, Matt Tait, Founder and CEO of Decimal, discusses how his company revolutionizes accounting services for small businesses and why he believes aligning business incentives is key to success.

You’ll discover:

• How Decimal fosters a people-first company culture in a remote work environment
• The unique approach Decimal takes towards acquisitions and partnerships
• Insights on leveraging technology and AI in the accounting industry
• Why an abundance mindset could be the secret to business growth
• Decimal’s experience with reps and warranties insurance in M&A transactions

Mentioned in this episode:

• https://www.decimal.com

Transcript

​​Patrick Stroth: Hello there. I’m Patrick Stroth, trusted authority in executive and transactional liability and national practice leader for mergers and acquisitions for Liberty Company Insurance Brokers. Welcome to M&A Masters, where I speak with the leading experts in mergers and acquisitions, and we’re all about one thing here. That’s a clean exit for owners, founders, and their investors.

Today, I’m joined by Matt Tait founder and CEO of Decimal. Decimal provides fully outsourced financial operations for small businesses, and that includes bookkeeping, technology setup and support, bill pay, payroll, and more. Essentially, anything dealing with money. Matt is also the host of the After the First Million podcast. Welcome to the show today.

Matt Tait: Patrick, thank you for having me. I really appreciate it.

Patrick: Now, before we get into Decimal, and there’s a great tie-in with this for mergers and acquisitions, because, as with a lot of things in business, nothing happens without accounting. And so that’s why you’re so essential to this whole process. So we’ll get into that in a minute. But before, why don’t you share your story. What led you to this point in your career?

Matt: It’s definitely not a linear path, that’s for sure. I always joke I started my career out, I’m a recovering attorney. And so I spent years practicing law, did some M&A on that side of it, and then kind of swung the pendulum and got into tech startups. I actually come from a family of entrepreneurs.

I was at a family reunion earlier this summer, and there were 60 of us in the house, and we looked around, and I think 12 of us had either started or run a rather large company. That was just the mindset that I kind of grew up with. And so after practicing, I got into the tech startup world, ran a couple of businesses, had the opportunity to work for a large accounting firm as kind of an entrepreneur in residence, and just help them start new things.

And ultimately, that’s what led us, my co-founder, Jacob and I, to start Decimal. And we kind of, as you’ve seen in the M&A space, and any small business owner will tell you, accounting is painful. I always joke that the three worst things about running a company are HR, IT, and accounting.

Patrick: Yes.

Matt: And we do the accounting. And so it had always been painful for me to hire people to do the work, to try outsourcing to accounting firms, and it was all just really bad. And so we started Decimal to find a better solution, and I think we’ve done a really good job of it. I mean, we’ve got an amazing team, and we started in January of 2020, and obviously, that was a crazy time to start a business.

But five years in, we’ve helped with over 1000 companies. We’ve actually bought two companies along the way, and we have close to 110 employees. So if you would have told me 20 years ago, I’d be running a large bookkeeping and tax company, I would have said, you’re crazy, but I love doing

Patrick: Well, it’s a great name you’ve got. I mean, what better name for an accounting firm or anything in the financial world? You know, I usually will ask, you know, where you came up with the name. But you and your co founder, you didn’t agree to call it Tait Services or anything. So how’d you find Decimal and just tell us what led you to the company.

Matt: Anybody who’s tried to think of a name for a business knows that you’re really just throwing a bunch of stuff against the wall and seeing what sticks the longest. When, we actually started Decimal inside of Somerset CPAs, and the Pandemic came, and we approached them a couple of months after that to buy the business.

And one of their requirements, and totally understandable, was that we come up with a different name. And at the time, we had a team of, I think, six people, and so we just said, hey, we gave everybody a week, wanted everybody to come up with 20 of what they thought were the best names.

And then we had an hour-and-a-half long fun meeting where we kind of played some games. We did like a survivor challenge, and eliminated it down to three good names and all kind of related to accounting or numbers or something like that. And the next step, which I’d learned in past companies, is it’s really important to be able to get a good URL and a good website name.

Patrick: Yes.

Matt: And so as we looked, we were able to get, I think, get decimal, but we also saw that there would be an opportunity to get decimal.com and ultimately, now we have decimal.com and that’s a long fun story about buying it from a bankrupt FinTech in Australia for some money and but it’s really nice to have the URL, and we really like the name of the brand that goes with it.

Patrick: That’s cool. I don’t mean to digress off to my personal stuff. But I can tell you when my family got a new little Pomeranian puppy, and there was all this tension on, okay, what are we going to name the little guy? And, you know, we did a very similar thing. We just with my two daughters, my wife, four names each, we’re going to throw them in a hat and just, we’re going to vote on them and do that exact survivor game.

And you just eliminated till we got down to right, the last one or two, and then it wasn’t imposing your will. But it’s great. It’s just bonding and creativity and doing that. Yeah, and you think about the human component when you’re thinking about businesses, which is unique with accounting, because everybody’s got this preset, look about what the mindset is for people that would choose accounting as a career.

They’re not the most flamboyant or what some people think imaginative people. They’re fairly straight-laced by the book. You know, round pegs in round holes. You know, straightforward folks. Let’s talk about the culture of Decimal because I think your approach in this is really a refreshing one.

Matt: You know, for us, number one, and the pandemic made this easy, we’re remote only. So at this point, we have team members in five countries and 26 states. And that helps too, because we’re remote with our clients, and so I think at this point, we’ve had clients in almost 45, 46 states. We made a determination early on that we wanted to build a great company, and that starts with having a really great team.

And our team is amazing. They do really amazing stuff for our clients, but they also work together. When you’re building a remote company, it’s different, and it’s harder than building with an office. I’ll joke with friends of mine who have companies that have an office, that you can lazily build a great culture when you have an office, because you’re all there, and you can go to lunch and maybe have drinks after work, and you get to spend time together.

With remote cultures, it’s harder. And we talk a lot about how important it is that every employee is an island, and it’s our job as a business, and it’s their job as employees to build bridges and to really figure out how to stay connected. And one of the ways that we do that is by getting people to work together daily.

So you really won’t go a whole day without having some chance to work with somebody else. And in accounting, that’s hard because it feels like such a solo project of I’m in this person’s books. Or I’m paying these bills for a client, or I’m hopping on a client call, but we really the team is really stitched together a way to make it so it’s a team sport at everything we do. And shared work is what really brings culture.

Now, what we also did that, I think is also really, really important, is we’ve built a great culture around our values and the key behaviors that lead to those values. So our company values aren’t words on a wall. Granted, we also don’t have walls that technically are the companies, but they really mean something.

And we waited a little over two years to actually sit down and enumerate what those company values were because we wanted to see what we became. We wanted to see what they were and how the team embodied them. Because when you have a small team, you as the CEO, or you as your CEO and a business partner like you can demonstrate culture every day with every single person.

But once you start having managers and teams and all of that stuff that starts to spread out. And so once we got to that spread out point, I sat the leadership team down and I said, hey, we need to spend a whole week coming up with company values. And we actually got together in person, and ultimately we came up with four.

And I said, hey, it’s really important that we tie these values to the key behaviors that drive them. We need to make it tangible for people. These aren’t theoretical things. We need to make it tangible. And in addition to that, we need to make sure that we’re celebrating them daily. So at Decimal, if somebody does something good, if they get a kudos or props for doing something, you have to tag a company value and key behavior.

And so it means that we’re constantly talking about it. And we found that people talk about it with our clients. I don’t know if I told you this in our initial meeting, but one of the coolest stories I have was last summer, we got our first intern. JJ was his name. He’s a business school student at Butler University here in Indianapolis where I live.

Patrick: In Indianapolis, yeah.

Matt: And JJ, when he got done with his internship, I did an exit interview. I wanted to see we’d never had an intern, and I think it can be hard for right out-of-college people to work in a remote setting where you’re also learning about being an adult as well as what you’re doing. And, you know, remote isn’t for everybody. It works for us. So I asked, JJ, I was like, Hey, what are your takeaways?

He gave me some good ones, but then he said, you know, he was like, Matt, I think, honestly, I’m the only person going back to Butler this semester that could tell you all the company values of the company they interned in. And he’s like, you talk about them all the time. Your team talks about them all the time.

I’ve heard them on client calls, like you guys repeat Decimal’s core values all the time. I know them. And he spit it off to me. And I was like, that’s really cool, because probably, like you, I’ve worked in a lot of businesses, and I’d never, I couldn’t tell you the core values of a single one I’ve worked in. Including one that I owned.

But at Decimal, it’s a really big thing that stitched into the fiber of who we are, and it’s led to things like GoFundMe campaigns for family health issues, food wagons for births and deaths, and pregnancies. It’s stuff that people just do because it’s the right thing to do. And to be fair, that’s the number one value of Decimal is do the right thing. And we’ve got a team that does it every day.

Patrick: That’s much more effective than a corporate mission statement that maybe on a plaque when you walk into the reception area. But that’s about as far as it goes on that. When we think about Decimal and it’s helpful with your four core principles, let’s operationally because there are two areas that you’re in. You are an organization that’s providing this outsourced accounting services.

But then the other side of it is you are doing a lot of acquisitions and partnerships with other accounting firms, either looking to transition, to grow, maybe they’ve seen as far as they’re going to go. They don’t know where the next step is. And here you are. And I think it’s that capability that you’re bringing that I think speaks to how you’ve grown to be one of the larger accounting firms in the country right now.

So let’s talk about the two sides, if you can segregate between the operational services for clients, and then the very helpful thing you do for the partners and firms that choose to partner with you or be acquired. Because you want to shackle the principles to do a lot more client-facing work, and I think that is fantastic.

Matt: Yeah, so, I mean, one of the things that we’ve really focused on, and I think it’s helpful that we’re a company that’s run by outsiders to the industry. You know, I’m not an accountant. Jacob, my co-founder, isn’t an accountant. And Michael, our CEO, also not an accountant. We have amazing accountants who work for us and bookkeepers, but ultimately, we’ve run this with a business-first principle.

And that is companies, they don’t like to do this, but they have to. And if you do it well, it is a strategically, really great thing. You run your business better. You make more money when you want to get acquired it’s easier to get acquired for a lot more. It’s only good to do this.

Patrick: It’s eat your vegetables time.

Matt: It is. But most people in accounting view this as an accounting issue. We view it as a business problem. Our goal is to make sure you can pay your bills, get paid, and track it all for when you want to see it. That I think is an important distinction, and it’s allowed us to really look at how the work is completed, to create a core foundational technology infrastructure that does as much of the work and makes it as easy on everybody as is humanly possible.

Aligning incentives is the most important thing. Aligning incentives with your team, aligning incentives with your clients, aligning incentives with outside parties like banks and investors. So having that technology helps, having a team in the Philippines that can outsource and do a lot of the work, it helps with the cost structure, which helps with my margins, which helps me grow well.

Then having a team in the US that’s focused on doing the work and creating great relationships. They don’t actually do the bookkeeping, but their relationships, final quality. They make sure that you get everything that’s great and perfect for you.

Creating that has created an economic infrastructure that makes it so that we can do this very profitably, and we can grow very fast. And as we look at growing when you’re in professional services, you can really only grow so fast before you break your team and your profitability.

Patrick: Yes.

Matt: Onboarding becomes an amazingly big problem. And once you look at and you determine what that is, for us this year, I think we’ll grow 32%. It’s probably a stretch, but I like pushing the team a little bit, and we’re good enough that I can pull that lever. We wanted to push to 40. I know we have a sales team that could sell to 40. If we want to pull back to 20, and our operations team wants to take a deep breath, we can do that.

But think we’ve actually figured out how to balance and align the internal incentives well. And that, I think, is really important, because then we look and we say, hey, I’m kind of crazy. I want to grow more than 30 plus percent. So if we’re going to do it, we need to look at acquisitions, and that’s when we start to have conversations with people about, hey, what do you want the next stage of your business to be?

Now all of this exists in a I am an abundance mentality type person. Ao we’ve built with the mindset of, I’m not competing against anybody. I’m going to help everybody. And so from day one, we’ve partnered with fractional CFOs. We’ve partnered with large accounting firms, small tax firms, people who don’t do what we do. And we want to be able to offer trusted solutions to our clients and anything they need.

Because ultimately, the mission that we have is just to make it easier to be a business, because it’s hard to run your own company. And if we can be a one-stop shop for just being able to help you, then that’s perfect. And so building out that mentality has also it’s opened us up to great relationships.

So as we’ve looked and had conversations around acquisitions and other stuff, things have just kind of popped up for us. And what we’ve ultimately learned is that the economics of our business are much better than the economics that we traditionally see in bookkeeping and accounting firms.

And that’s what makes a good acquisition principle because you can do it in a way that the payback costs can be relatively fast and low, and but the most important thing is the integration costs. We’re a people-first company, and so as we look it’s aligning teams. And fascinating, I’m an outsider to an industry that doesn’t like outsiders. So I’ve had multiple conversations with people.

In fact, I now wear a hat every day because I hopped on an acquisition conversation and 30 seconds into meeting this gentleman, he looked and he said, you know, don’t you think you look a little unprofessional? And my thought like, what went through my head was a lot of bad words my mom would now be proud of me for saying, and I didn’t say them.

What I ultimately said was, you know, the first core value at Decimals is do the right thing, and we like to be good people. And what that means when we meet people, we try to be nice to them, we try to respect them, and we try to have conversations that uplift them and make them feel whole.

You called me about acquiring your business, I can tell you, within three minutes that we’re not going to do that. I don’t think our values align with your values, but if there’s anything else I can do to help, I’m more than happy to have the conversation.

Patrick: You are not the first on this podcast now to share with us this abundance mindset. I may have to, you know, delve into this a little bit deeper as we go on because I think that the competitive scarcity mindset out there, where it’s either I win or, you know, I win, or I lose.

Or I win and they lose, is just counterproductive. And I think I’ve seen people who there’s enough for everybody. I’m in the insurance business, there are enough clients and deals and projects out there for everybody to be really well served. I think that’s really fed to your success.

Matt: I appreciate that. And, you know, I had a conversation, it was very telling to this exact subject. Little over a week ago, I was talking to Waseem. Waseem runs a company called Pilot. Between the two of us were two of the larger kind of bookkeeping companies.

They’re much more tech-enabled, and they’re they’re actually a tech company, but both of us are pretty big. And in the conversation, I was laughing with him. I was like, hey, Waseem, do you know how many times a year I run into you guys? We’re two of the biggest in the market. Once.

Patrick: Wow, yeah.

Matt: My sales team runs into Pilot. That tells you everything you need to know about this whole industry is there are millions of businesses. They have to do this stuff. We can all work together. And when we do, it’s helpful. And the other part of this too is accounting, like a lot of industries, can be a really good industry, but it’s not as inclusive as it should be.

We should look at who we work together with, fractional CFOs, who are not CPAs, but you know, they’re fractional CFOs. You know what? I’m going to part them at both because they are all doing awesome things that are helping businesses. So I’m including them. A lot of accountants, they’ll view them as the outsiders.

And you know that that doesn’t work for me. The other thing is technology companies. I hate the term vendor. I absolutely hate the term vendor, and I hate vendor relationships. It’s a buy and it’s it’s an antagonistic relationship. I want a partner. And we found great technology partners in this space that want to work with us and say, hey, how can we make this product better for your team and for your clients?

And we say, hey, here’s how you could do this. And by the way, if you did these three things, it would make it so it’d be easier for you to sell to other accounting firms. And how can we help you sell this to other accounting firms?

And like this is our mentality as a business is we’re not in this just for us. We want to help everybody as often as we can, and if they are impacting the industry, if they’re impacting this community, if they’re dedicated to great client experiences, we’re in. That works. I don’t care about anything else.

Patrick: A question I had when you were talking about integration, because you’ve got people culture, and then you’ve got the the technology. How difficult, or how much easier is integrating technology today than maybe two, three years ago?

Matt: Oh, I mean the pace of change and improvement is getting astronomically faster by the month. When you’re a company of our size, one of the hardest things that you have to determine is the pace of change that’s good for your team. And so we implement new technology and new processes and new stuff all the time, but we also very carefully figure out the right order and the right pace.

And nobody on my team believes me if I say we’re going to have a very easy year and nothing’s going to change. No one believes me, nor is it ever true. We’re always looking at improving and changing. I think the way that technology has improved is you’re starting to see, at least in our industry and in the tools that we use, you’re starting to see more and more tech companies looking at, hey, how do we make this easy?

How do we improve the experience? How do we incentivize adoption and and I think that’s really important because it means they’re listening and improving. I just had a conversation with Abhik. He is a CEO of a company called Ashby. They’re a recruiting platform. We use them. They’re growing super fast.

And one of the things he attributes a lot of his success to is the amount with which they listen to their customers. They don’t, they’re not yes people. The customer says, I have a need, they don’t absolutely do it. They try to dive in and understand the root cause, and then they can really try to figure out where they’re going.

But I think that type of a mentality, rather than, I think there are two bad mentalities I see with with technology and with businesses. One is the laser-focused on this is the vision, and nothing is going to change me from this path.

And this is my path, and I know the right thing, and I don’t think that ever really works. And number two is the kind of Field of Dreams entrepreneur. I’m going to build this thing, and if I build it, they will come. You know, and that doesn’t work either. And so I think those mentality changes are really impacting.

Patrick: And as we look forward, give us an idea, paint a picture for us, Matt. Who is your ideal client? Who is Decimal looking to serve? And you’ve got two fronts. You got one on the business owners that are looking for your services. So let’s do that profile. And then give us a profile for the accounting firms or other I would call it service providers. Because at the end of the day, a lot of us are all service providers. Who are you looking to partner with as well?

Matt: Well, so on the small business side, we like bigger companies. We like the at least a million dollars or more in revenue. And, if you’re kind of an SMB that’s in that space and using QuickBooks Online, or can be, we want to help. You know, everybody has to do bookkeeping.

They got bills to pay.

They’ve got invoices to send. And we love helping, and we love doing it with great client relationships and clients who want to be our partner for a long, long time. And so that’s pretty easy. You know, accounting is one of those things, everybody’s got to do it. So we, you know, like to help.

Patrick: No focus on industry? Or clearly no geographical problems there.

Matt: All over the country, all types of industries. I mean, when you’re talking you know, helped 1000 businesses in five years. We pretty much touch everything. Now we have huge concentrations in professional services, construction companies, light manufacturing, really a lot. Cash medical. We have tons of dental and orthodontic practices and consulting firms. So we, nonprofits even. We span all over the place, and that’s been good. We do have a lot of industry focuses, but in general, we pretty much help anyone that can, that we can.

Patrick: Gotcha.

Matt: From an accounting perspective, AI is a buzzword, but it’s really real. And there is a lot that is coming to this industry, and we’re going to announce, and you and I are filming this on January 22nd. On February 5, a big announcement. Decimal is transitioning 200 plus clients to Puzzle, which is an AI native ledger and competitive to QuickBooks.

And I think that makes us the largest user of an AI Ledger in the world. And we’ve implemented it at scale. It’s a game changer for the industry. We still have 600 plus clients on QuickBooks, so that’s not changing. But I think for us, we want to work with and help accounting firms and accounting folks in the industry who want to take the concept of AI and actually start to apply it in a real, real way.

Because I don’t think anybody’s out as far in front of that as we are. And we’re more than willing, I’m more than willing, to work with people and walk them through how we’ve done it, help them do it. Because I think it starts to open up a lot of economics and a lot of opportunity in the industry. And to the purpose of the podcast, I think it opens up a lot of opportunity for M&A and for really good outcomes for people.

Patrick: Well and as you’re looking at M&A, one of the reasons why there have been so many successful M&A transactions over the last several years, you know, regardless of how the macroeconomy is gone, is that there’s a lot of financial risk when you’re buying and selling companies. And when the insurance industry came along with a product called reps and warranties insurance, and the objective is to transfer that financial risk between buyer and seller.

Buyer doesn’t want to get stuck holding a lemon, and seller doesn’t want to be on the hook. It definitely to the buyer post-closing for stuff that may have been missed. Nobody saw it, and they don’t want to be, you know, on the hook for that. And so the industry came in and said great, folks. Show us the reps, show us the diligence of what’s done for a couple bucks.

Buyer, if you suffer financial loss as a result of a breach, don’t come to the seller. You come to us, and we’re gonna get it taken care of. And that’s great because the buyer hedges that risk. They have a source of remedy that does not require attorneys and legal costs and pursuit and so forth. Sellers get a clean exit.

And in cases where sellers are rolling over equity, and, you know, moving forward with a parent company, it makes life a lot less contentious. If something does erupt post-closing, there’s no finger-pointing. Everybody just goes to that third party. They take care of it. But, you know, don’t take my word for it. Matt, good, bad, or indifferent, what’s Decimal’s experience been with rep and warranty insurance?

Matt: I do it every time. I wouldn’t buy a house without insurance or a car without insurance, and I certainly wouldn’t buy a company without one. So to me, I think it’s a no-brainer. It’s like a lot of insurance. You hope you never have to use it, and you hope it just costs you money, but man, when you got it, you’re really glad you do. And I’ve done a lot of diligence. I’ve been on the buy and sell side of quite a few things and deals.

What I have found is you can never know everything, period. And you will always have some amount of risk. You could do years of diligence on a deal. You’re still not going to know everything, and ultimately, your acquisition should be an equation, and you should build that risk into the equation for the acquisition. But certainly having some insurance to protect yourself, I think is a really good idea.

Patrick: That’s fantastic. And I want to take the opportunity now with the reps and warranties product. It’s usually been a product reserved for deals priced 100 million dollars in enterprise value and up. And in the last two years, underwriters have come up with a product now for deals that are priced between a million in enterprise value to 30 million in enterprise value.

It’s a fraction of the cost because smaller deals represent a lot less risk. And on average, this program is called TLPE, transaction liability, private enterprise. There’s no underwriting fee, and the average cost is $15,000 per million dollars in limits. I’d say half our clients can purchase up to 50% usually of the enterprise value as the insurance, which is substantially more than a 10% escrow that uninsured deals get.

And it is facilitating deals on the micro market, lower middle market that were before this product came along were not eligible for your traditional buy side. So we’re very, very proud that as time comes on, there are more innovations in the marketplace, as you guys are uncovering innovations and leading everything forward. Now, Matt, aside from breaking news for us today with your launch with Puzzle, we’re early in the year. What trends do you see going forward for 2025?

Matt: I think in general, particularly in the M&A space, I think you’re going to start to see as interest rates come down, I think things are going to pick up. I don’t even know if they really slowed down all that much, but they’re going to keep picking up. I mean, the cost of capital is a huge motivator for M&A. You’re seeing that in the accounting space. I mean, accounting is one of the hottest acquisition spaces, particularly for private equity.

Patrick: Yes.

Matt: I’ve even heard about venture funds getting into it. And so I think that’s going to pick up. The cost of capital makes acquisitions easier and better. SBA loans going down too are going to be hugely impactful, because it’s not just company buying company, it’s person buying company. And I think that’s really, really important. So I think with the current state of our politics, at least being steady for four years, and then we’ll be back and crazy again. I think with that, and hopefully, cash getting cheaper, I think you’ll start to see it pick up in a big way.

I think you’re also going to start to see, look, with the correct implementation of technology, it brings your internal costs down. Which brings your internal profit up, which increases the amount of money people are going to pay for your business. And I think with those two factors, you’re going to see a lot of good outcomes for a lot of good businesses.

Patrick: And being out here in Silicon Valley, I mean, Moore’s Law continues, and it’s not going away, that every 18 months, you know, the cost of computing falls, you know, goes down by half, and the capacity goes up by two or three times.

I think AI is just going to accelerate it. And I just see that being the development like the cloud computing, where now companies don’t have to have loads and loads of hardware and keep their data in one spot. It’s now protected out there, and they’re now open to more outsourcing, more storage and all that. I think everything bodes well for just the innovative spirit.

And quite frankly, if we have more people like you out there, my other guests with this abundance mentality, that mindset, in and of itself, is going to just build the collective. I’m sounding like a real Californian with collective, but I could just see how the community is embracing and picking up on that. Matt Tait from Decimal, how can our audience members find you?

Matt: Well, Patrick, they can easily find me on LinkedIn. Love to chat with people. Love to connect. At decimal.com, if anybody wants help. And After the First Million for a podcast about kind of what you talked about, what it’s like to get after that first million of building a business and all the crazy stuff that goes with it.

Patrick: And it’s, I’m sorry we didn’t get into this, but After the First Million, okay, everywhere you can get podcasts? Apple, Spotify, all that good stuff?

Matt: Apple, Spotify, and even YouTube. All that place, and you can find it decimal.com. We’ve got a whole section. Make it easy to find, too.

Patrick: Oh, fantastic. And it’s Matt Tait, T, a, i, t, as opposed to the Tate Museum in London, which is T, A, T, E. Matt, it’s a pleasure having you today. Thanks very much, and I wish you all the success as we go forward.

Matt: Patrick, thanks again for having me. I appreciate it.