George Kurosawa: Awesome. Thanks for taking the questions.
Operator: Thank you. Our next question comes from the line of Rishi Jaluria of RBC Capital Markets. Your question please, Rishi.
Chris Fountain: Hi, this is Chris Fountain on for Rishi Jaluria. Thanks for taking the question. So, I realize the new packaging strategy only went into effect back in November, but just wondering if you could expand a little bit more on the feedback you’ve heard so far.
Anne Raimondi: Sure. Hey, Chris. I think the feedback that we’re hearing both from our field who are having conversations with our customers, our renewals team, our customer success team, and from customers directly themselves is they do really appreciate how we’ve made AI very accessible in the product in every paid plan. I think that is something that differentiates our approach to AI, AI designed directly into the workflows that employees and leaders are using. So that’s actually brought forward some renewal conversations in some cases. We’ve been, as I mentioned earlier, just pleasantly surprised to see just the level of engagement, even though we’re only a couple of weeks out, in terms of customers choosing to move to our enterprise package.
And now that we’ve got two of those choices, I think there’s also more robust conversations that we can have with customers who are interested in those features and functionality. But we anticipate we’ll continue to share more with you and have more updates in the next quarter, but the first few weeks have been really positive.
Chris Fountain: Great. Thank you.
Operator: Thank you. Please standby for our next question. Our next question comes from the line of Brent Thill of Jefferies. Your question, please, Brent.
Brent Thill: Dustin, you put together this public plan to buy 30 million shares by the end of December. I think the last filing had you close to 9 million. So, a long way to go. Can you just talk at a high level of how you’re thinking about this kind of — the plan is only 30% filled. How do you think about that trajectory in the shape of that plan?
Dustin Moskovitz: Yeah. So, I’ll just confirm the 10b5-1 is still filed, and gosh, when did we originally file it? March?
Tim Wan: March.
Dustin Moskovitz: Okay. So, all I can say is like the way I thought about that trajectory was locked-in in March, and I had to try and forecast the future at a really volatile market, and so did the best I could, and now things are playing out. But — yeah that’s basically all I can say about it at this point.
Brent Thill: Okay. That’s great. And Tim, just to follow up on the renewal, kind of, when you expect that to get more base underneath it? I mean, is there — in the next couple quarters, is there an event or something that happens that you think you’ll get a better basing on the renewals or how do you think about that specifically?
Tim Wan: Yeah. I mean, I think when we look at the renewals that we have coming up and the companies that were impacted at some point this year due to layoff and looking at their utilization, we feel like we have a pretty good handle and plan and understand what that renewal will look like. So, I think we have line of sight. There’s always surprises, but I feel like we have a pretty good handle in terms of lapping the difficult comps that we’ll have probably by the end of Q1.
Brent Thill: Great. Thank you.
Tim Wan: Thanks.
Operator: Thank you. Our next question comes from the line of Jason Celino of KeyBanc Capital Markets.
Unidentified Analyst: Great. Thanks for taking our question. This is actually Devon on for Jason today. I wanted to ask about the early renewal deal that you called out. I believe this is the second quarter you’re seeing this trend. I’m assuming this is customer driven, but any other details you can share, what the reasons are from the customer side and are you expecting more of these early renewals happening in the coming quarters?
Anne Raimondi: Yeah. Hey, Devon. So in that case that we mentioned, it’s a global transportation and food delivery company, which I actually happen to be a very loyal customer of. But we’d been talking to them about just strategically all the use cases where they wanted to expand. And so, what we really saw is both the combination of our AI features, the investments that we had made in scalability and security, and their business priorities and needs really just resulted in early renewal so that they could again roll out much more quickly. Do we anticipate seeing more of those? I think it’s still early, but I do think with the conversations our teams are having with customers with our new plans, those could create opportunities for customers to early renew.
But again, we’ll have more of that to share as we have more traction with the new plans. But again, early conversations are driving good velocity in helping customers choose the right options for them as they plan for growth over the next year.
Unidentified Analyst: Got it. That’s helpful. And then maybe just one quick one. I just want to ask about the 4Q revenue guide. I think at the midpoint you’re sort of assuming a decel in sequential growth. Is that just mainly conservatism or any other reasons there would be helpful. Thanks.
Tim Wan: Yeah, I mean, I think it’s the forecast is kind of based on our current what we’re seeing in the business right now. And hopefully, over the last — probably since we’ve been public, hopefully we’ve been in a position where we’ve over-delivered. We try to do the best that we can on the forecast.
Operator: Thank you. I would now like to turn the conference back to Catherine Buan for closing remarks. Madam?
Catherine Buan: Thank you. And we just want to thank you again for joining us today. We know that earnings is a very busy season for you. We appreciate your time, and we look forward to seeing you on the road this month and in January. Thank you.
Operator: And this concludes today’s conference call. Thank you for participating. You may now disconnect.
