Unidentified Analyst: Yeah, thanks for taking my question. I wanted to ask on sales force productivity given that you substantially hired in 2022, especially towards the end of the year. How are some of the changes that you made to your go-to-market organization last year playing out this year? And do you still plan to grow your sales headcount by double-digits in 2023?
Gil Shwed: Sales productivity remains, I mean, our target for the salespeople remains healthy and remains similar. We are not planning to grow the sales force significantly this year, given the economy and given the fact that we want to digest and we want to make the people which we hire productive, I do believe that our sales force can be far more productive and engage more with customers. We can do more. So I think that we can do more with the people that we have. On the same time, I think because we are cautious because we are not overspending because I think we watch everything, we have the freedom and the flexibility to add people whenever we see it makes sense. So I mean it’s the same message that you’re hearing from even our sales force hears from me if you have opportunities to add people, if you see that, if you’ll add certain people in certain segments, certain countries, certain places that add value, I’ll be happy to add them because we can.
Kip Meintzer: All right. Next up is Saket Kalia, followed by Jonathan Ho.
Saket Kalia: Okay. Great. Hey, thanks and good morning, everyone. Roei, maybe for you. I was wondering if you could just talk a little bit about the impact that ITP is having on billings. And I know that we don’t guide to billings, but even qualitatively, can you just touch on how you’re sort of thinking about billings through the rest of this year as you sort of balance ITP, a higher mix of obviously, duration changes within the industry. Any thoughts you could have on billings for the year would be helpful.
Roei Golan: Yes. Thanks for the question, Saket. So I think, in general, again, Infinity, most of the Infinity digital not being billed upfront. Most of them, we have a specific payment terms. Usually, it’s annual payment terms, not paid up front. So the duration of the billing for Infinity deals are usually not more than one year. So that’s something that — again, we see very strong Infinity environment. We see very strong implementation of our Infinity platform, and we see it growing in all regions. But in terms of billing, it can fluctuate because again, it’s specifically based on the payment terms for each deal. In terms of billing as in general, so again, we’ve seen this behaviour in the last two quarters that we see customers that less intend to repay upfront for multiyear deals.
Again, in this kind of market environment that we have higher interest rates. So it’s something that I can — we can — we see and we understand. But again, still see healthy, healthy billing, annual billings, LTE renewals, as Gil mentioned, healthy billing in terms of all of the growth pillars, mainly around the cloud business and the Harmony E-mail business. So again, in terms of building it tough to me to say how it will affect in the end, how it will impact the annual billing for 2023 because we just finished the first quarter, but that’s how we see it.
Saket Kalia: Very helpful. Thanks, guys.
Kip Meintzer: Next up is Jonathan Ho from William Blair followed by Joel P. Fishbein, Jr. from Truist.
Jonathan Ho: Fantastic. Can you maybe help us understand the impact from some of the deal postponements and delays that you talked about on the quarter, if there’s a way to quantify that — and perhaps relative to the guidance, like why not sort of take the opportunity to take a more conservative view here? What’s maybe giving you the confidence to support that? Thank you.
Gil Shwed: First, I think you see some of the impact in the product revenues, and that’s — I think we were very straightforward about that. That’s the impact of the changes that we’ve seen in especially, again, it’s refresh what we call new deals, the new business that we have in the business. About the forecast, right now, we are basing our projection based on our sales forecast based on our pipeline and so on. And they still seem to support the projection for the year. I definitely don’t, again, I don’t really don’t want to lower guidance just so that we can show better numbers in the future. I think we have to be very responsible here. So as I said, the arrangement that we have is wide. There’s a good potential that will be on the upper hand.
