Adam Bergere: That’s helpful. And then, again, just like the gross margin, could you kind of call out when that might trough out and what kind of like the level of that might be? I think it was at like 77% for this quarter. So is it fair to assume that that’s kind of like a trough level for that?
Juho Parkkinen : Well, thank you for the question. I think the more important thing is that we assume there would be a pressure in the gross margin when we provided the operating margin and operating profit guide and our path to profitability. So we are expecting pressure on it, but it doesn’t change our path to profitability in 1 bit. So I cannot tell you exactly where I think it will dip down to, but I think in your models as you prepare the business back in FY ’20 — sorry, back when we hit FY ’24, Q4, we should be back at 77-plus gross margin. So it may go down in the interim and then it comes back up as we enter profitability.
Operator: And our next question comes from the line of Arvind Ramnani with Piper Sandler.
Arvind Ramnani : I had a question on some of your kind of partnerships or alliances to help drive sales. Are you able to kind of dimension how much of your new sales or bookings come from in-house sales teams versus your partners? I’m sure it’s probably pretty difficult to kind of bifurcate the 2. But if you’re able to do that, that would be great. And on the same topic of partnerships, are the margins higher or lower on sales that are brought in by some of your partners?
Tom Siebel : Arvind, it’s Tom. Virtually all of our sales today, we’re selling with a partner, not through a partner, okay? And so that would be 100%, where we’re selling with them. Now they may introduce us to the account. They may bring the executive team over here as Google has, as Baker Hughes has, as Microsoft has in the past like many, many times. But we’re actively engaged, okay, in the sales process. Now we are just now putting our products on the marketplaces of the various hyperscalers. And so that dynamic might change going forward. But there’s no margin difference because there is virtually no case where they’re selling independently of us.
Operator: Our next question and our last question comes from the line of Michael Turits with Keybanc.
Michael Vidovic : This is Michael Vidovic on for Michael Turits. Could you just talk about linearity in the quarter and then trends you’re seeing to start out November for fiscal 3Q?
Juho Parkkinen : So are you talking about that deal velocity in the quarter? Or what are you asking about?
Michael Vidovic : Yes. And just was it month-to-month, how do deals trend? Was it a constant uptick to reach throughout the quarter? Or was it stronger back into the quarter or the beginning of the quarter?
Juho Parkkinen : We see activity all throughout the quarter, but it’s not unusual in this business where as you approach currently, you have slightly more activity.
Michael Vidovic : Okay. And then just a quick follow-up on the vertical standpoint, particularly energy, have you seen like an uptick in deals in that area? And I guess, which areas besides Federal are you seeing particular strength in this time?
Juho Parkkinen : So if your question is relating to the diversification of industries, we see continued diversification, which we’re very excited about. Yes, there’s deals in energy, but defense, as we discussed, is really exciting for us as many other industries as well. And we continue to expect more diversification with the consumption-based pricing and scores of new customers.
Tom Siebel : Okay. I guess that was our last question. And gentlemen, thank you for your thoughtful questions. And we appreciate the courtesy of you participating in our call. And we thank you all very much for your time.
Operator: Ladies and gentlemen, this concludes today’s conference call. Thank you for participating, and you may now disconnect.
