Margin PressureThe only nitpick in the quarter was some margin pressure from a confluence of a) supply constraints, b) media investments and c) TCPA volatility.
Operating OutlookThe overall pace of growth is starting to be impacted by the uncertain operating outlook, but it seems so far to be a slowing of growth as opposed to pullbacks in spend.
Regulatory ChangesImplementation of the FCC's new explicit consent rule under the Telephone Consumer Protection Act was postponed, but a more restrictive rule will eventually arrive.