“We expect to continue our free cash flow generation in fiscal ‘24.”

In context

“positions us well to execute our long-term growth plans. We ended the year with $121 million in cash on hand compared to a cash balance of $43 million a year ago. Our ending inventory balance was $81 million compared to $84 million a year ago. Given our stronger-than-expected consumption in Q4, our ending inventory was lighter than expected. We expect to recover in Q1 and build inventory through fiscal ‘24 to support our holy grail launches and core franchises. I’m also pleased with the strong free cash flow we generated of approximately $100 million in fiscal ‘23. Given our cash position, and the early repayment of approximately $25 million of our outstanding debt last fall, we ended fiscal ‘23 with a net cash position and less than 1x leverage in terms of total debt to adjusted EBITDA. We expect to continue our free cash flow generation in fiscal ‘24. Looking at our cash priorities. First and foremost, we plan to continue to invest in our people and infrastructure to fuel our growth. As Tarang discussed, this year, we plan to invest behind our ERP transition to SAP, working capital to support the strong demand we continue to see, and increasing our distribution capacity. Now let’s turn to our initial outlook for fiscal ‘24. For the full year, we expect net sales growth of approximately 22% to 24%, adjusted EBITDA between $144.5 million to $147.5 million, adjusted net income between $98.5 million to $100.5 million, and adjusted EPS of $1.73 to $1.76 per diluted share. We expect a fully diluted average share count of approximately 57 million shares and our fiscal ‘24 adjusted tax rate to be approximately 21% to 22%. Let me provide you wi”