We also expect increased operating expenses as a percentage of sales primarily due to our entry into multiple expansion markets since last spring and resuming in-person events.

May 3, 2022 / CFO / receipt, needs a key / Nathan Winters, CFO | earnings call 2022-05-03 | transcript 548b4c36-2aa6-4b9e-8624-70cd1f5003bc | chars 8861-9037 | segment 9

Adjusted operating expenses as a percentage of sales increased 100 basis points, primarily due to new business acquisitions in our expansion markets, as well as increased marketing activities and employee travel costs as we return to in-person events.

May 3, 2022 / CFO / receipt, needs a key / Nathan Winters, CFO | earnings call 2022-05-03 | transcript 548b4c36-2aa6-4b9e-8624-70cd1f5003bc | chars 5113-5364 | segment 5

We also expect increased operating expenses as a percent of sales, primarily due to our entry into multiple expansion markets since last spring and resuming in-person events.

Feb 10, 2022 / CFO / receipt, needs a key / Nathan Winters, CFO | earnings call 2022-02-10 | transcript 907621a3-5f18-4405-91d6-cf93bb3c64b0 | chars 8543-8717 | segment 8