please open the line for questions. Thank you. We will now begin the question and answer session. To ask a question you may past star then one on our touch type phone. If you are using a speaker phone, we ask that you please pick up your handset before pressing the keys. If your question has been addressed and you'd like to remove yourself from the queue, please press star then two. Once again, ladies and gentleman, that's star then one if you have a question, and today's first question comes from Ed Uromo with Key Bank, please go ahead. Hey, good morning, thanks for taking the question and nice to see the sequential improvements. I guess, a couple of things from me. Um, first, I think you guys have done a really good job of you know, inaudible business during the pandemic and making yourselves more efficient. Is there a way that we should think, as bookings rebuild from an incremental margin perspective and how the shape may differ than what we've seen previously? And second, um, kind of as expected, you- you're gonna draw down on the cash a bit I guess, as people redeem vouchers. How should we think about the cash usage progression over the next couple of quarters, and when will that trough? Thank you. Ed, Alberto, good morning. Thanks for your question. On cash, I think, allow me to reiterate what we discussed in prior calls, uh, I r- actually, re- recall your question. Okay, we are looking at the similar levels to what we have discussed, let's say like, a minimum cash value for the year of around 250, okay? In particular driven for the same reasons that you highlighted. With regards to margins, clearly we are in the trajectory that we're actually break even point. We already, in the month of October, that we are closing those figures, okay, we're seeing, um, um, already, um, blue lines when it comes to at an EBITDA level, that is particularly encouraging. When you start looking at margins, let's say top to bottom, okay, we, we are seeing, um, take rate at similar levels to, to the ones we have been discussing. Okay, let's recall what we have mentioned in prior calls about having, let's say, a- a longterm trajectory on ticket at around, uh, uh 12%. Okay, 12% plus, that is higher in around 50 basis points we will discuss, uh, pre-pandemic. With regards to, um, uh, structural cost, uh, while we are, what we have said is that the structural cost, uh, should actually benefit from, let's say, a- uh, around 60%, uh, operating leverage. Meaning that if orders were to grow around 100, okay, structural cost should be growing no more than, than 40%. Uh, and that, uh, I would say points to a picture, uh, on what could be the profitability of the company going forward. That is, should be in excess of what we were discussing pre-pandemic in the long run. Got it, and maybe one other followup. Um, you indicated you're looking to kind of, rebuild inventory for packages, given some of the demand signals you're seeing. Um, I guess how quickly can that happen and do you expect that you'll be able to, um, to have enough kind of capacity for the peak travel seasons? Thank you. We currently see, um, I think that, that answer has maybe t- two, two, two different ideas. Number one is, uh, the company, uh, um, continues to be, let's say, on the sidelines when it comes to, uh, let's say, secured inventory, uh, as we have done pre-pan- pandemic, okay? Remember that, uh, we were actually at around, let's say, 5%, uh, on n- n- n- no, uh, between 5-10 %, no more than that, uh, of all the gross bookings we're selling, were actually secured, occupying advance on capacity at hotels, uh, and/or airlines, okay? Uh, since the pandemic struck, we, we were completely on the sidelines of that, and we are now thinking about starting to push into that arena, um, uh, as of, let's say, the, the next few quarters, and we do not see a reason to do it given, uh, number one, uh, uh the ups and downs of the business, and number two, the, we, we see capacity so there's no need to do it. Okay? Of course, we see that as a profitable business and that will be, uh, will put the, the, um, um, our, our foot on, on, on, on the gas pedal, uh, as the, uh, we are fully recovered, because we see there's, there are, there's opportunity to gain extra margin. But for, for the time being, we will not do it. In uh, region in, and in regional inventory, what we are seeing is that, uh, airlines are, uh, increasing their network significantly, Latin America for the upcoming two to three months. So everything that's, uh, available from the airlines and the inaudible is gonna be in Despegar, and we are seeing in- increases levels of, uh, of inventory on both areas. So we are confident that the pace of this recovery will be sustainable the next few months. Very good, thanks so much. And ladies and gentleman, as a reminder, if you'd like to ask a question, please press star then one. Our next question comes from Kevin Coupleman, with Talent and Company. Please go ahead. Uh, good morning. This is Emily on for Kevin, thanks for taking my question. Um, you mentioned a new marketing campaign, uh, launching in Q4 focused on affordability, and I was just wondering if you could help us understand how that will affect, um, revenue take rate, installments and sales and marketing expenses in the quarter? Thanks. Hi Emily, thanks for your question. This is Damian. Um, uh, t- the new campaign was, uh, extremely, this has been extremely successful, inaudible, and uh, what we are pointing towards is, uh, getting back to travel and being able to afford the travel, uh, as, as always have been positioned in the market section. We do not expect that this will represent or be reflected in any lower take rate. Remember that as we mentioned during the observed remarks, uh, we have a higher significant r- revenue margin capabilities. So we are being much more effective than in the past in increasing, uh, demand without having to give up, uh, significantly on the take rate. So the numbers that Alberto referred to in this question should be, uh, sustained over the next few months. Very clear, thank you. Thank you, and ladies and gentleman, this concludes our question and answer session, I'd like to turn the conference back over to management team for any final remarks. Thank you very much. Um, just wanted to thank all of you, uh, for your participation and interest in this regard. We hope you all, uh, remain healthy and safe, and thanks for joining us today, looking forward to seeing you on our next call, bye. Thank you. This concludes today's conference call. We thank you all for attending today's presentation, you may not disconnect your lines, and