John Rettig: Yes. Well, so float income, sorry, specifically to address that comment, we’re assuming a yield for the full year that’s lower than our Q1 yield, up 460 basis points. So we’re actually anticipating in the first half of calendar ’24, so the second half of our fiscal year that the Fed funds rate is going to decline. We’re obviously not forecasters on these topics, but our assumption is 4% Fed funds rate versus I think current consensus is 5%. So that’s rolling through our numbers for sure, in terms of float that obviously has an impact on cash flows as well.
Darrin Peller: Rene, just on Divvy and the cross-sell, it sounds like you guys are very excited about that. We are too. I just want to understand the conviction you have now combined with — I think you said you had 7,200 customers cross sold now from probably 2,000 last time you talked about it. So is the conviction there because of the progress on the engineering side of it having been really up and running and ready to go in the fall the way you hoped?
Rene Lacerte: Yes. I think a great question, Darrin. There’s — the conviction is and it goes back to the hypothesis thesis about why we wanted the Divvy solution as part of the BILL solution and have the spend management expense capabilities inside of BILL. And so just to clarify, we had started the acquisition, we had 1,000 joint customers. And what we disclosed today is that we have 7,200 joint customers. So roughly up 6,000. Of that, around 5,000 are BILL customers adopting Divvy, the others are Divvy customers adopting BILL. So I think what gets me excited is that when you get a chance to talk and see the activity that these joint customers are doing, they’re using it as one platform. They’re seeing the opportunity to be able to manage their financial operations differently.
And that’s something that we’re very passionate about. And I think it’s super important that when you’re going to go create a new space or a new solution for businesses that you have to have passion, you have to have set of expertise and vision and you have to have the ability to be persistent and do it on a continuous basis over time. And that’s what we’ve been doing. And so this is — FY’24 is an important year on this journey of getting more cross-sold. But it’s going to take all the things I just said, to continue this journey for SMBs to have — make that difference so that they actually do have one place, and that’s something that we’re going to be focused on for years to come.
Operator: Unfortunately, that is all the time that we do have for the Q&A session. So I will pass the conference back to Rene for any final remarks.
Rene Lacerte: Thank you, and thanks, everyone, for joining us today. BILL delivered another great quarter and fiscal year. We are excited about the future, and we look forward to serving more and more SMBs. Thanks for joining.
Operator: That will conclude today’s conference call. Thank you all for your participation. You may now disconnect your lines.
