Scott Farquhar: Yeah. Fred, I can take that one. Look, it may sound like a boring answer to you. I think the way we think about product innovation in the current environment doesn’t change to the way we thought about it a year ago, two years ago or three years ago, right? We have a job to unleash the potential of every team and that’s all about making our customers more efficient at running their businesses. Again, we can’t help them make cars or rockets or drugs or provide financial services, whatever it is our customers are doing, but we can make their team is more efficient and we really try to keep that as a North Star across all of our markets. At the same time, we continue to rebalance our priorities as we hear from customers and as we look at our resourcing.
One of our advantages, I would say, is having a large investment in R&D, which is quite unique, is we are able to move those resources around a little bit more fluidly than other companies may be. So we continue to innovate, we have a lot of new products that we have built over the last couple of years and we continue to work with customers in testing, things like Jira product discovery, Encompass and Atlas, and a couple of upcoming ones like is in alpha and beta. Those are examples of ability to ship new things. At the same time, we continue to deepen our platform investment and one of the things as I just mentioned, to Gregg’s question earlier, when customers move to the cloud, their ability to consume multiple Atlassian products via the platform and connect them together with things like Smartlinks or analytics running across them is a huge advantage of the cloud and that all comes from the innovation and investment in our infrastructure and ability to manage all of that sort of thing.
At the same time, the innovation doesn’t just come in new product form. So we continue to work on the big enterprise aspects of our cloud in terms of scale and performance, in terms of accessibility. As you said, this roll out new data residency regions this month and we continue to work with our customers on what regions they want to see us data residency remain, things like BaFin and HIPAA and all sorts of the acronym soup that comes with the enterprise. So those are all examples of where we spend our R&D dollars to continue to try to innovate on the things that customers want and are looking for. At the same time, we are obviously responsive to the environment that we just didn’t launched.
Operator: Your next question comes from Michael Turrin from Wells Fargo Securities. Please go ahead.
Michael Turrin: Hey, there. Thanks. Appreciate you taking the question. On the cloud target, can you just expand on what goes into the new range and what makes that the right range going forward? There’s some useful language in the letter, just around some assumptions that the macro worsened in the second half of the fiscal year. So maybe just what those impacts are, what gets worse and the letter calls out December as especially pronounced. I am just curious if there’s anything you can say on whether those trends how consistent in January or if things are getting worse or better? Any color there as we are just kind of sorting through everything that’s going on is helpful? Thank you.
