Of course, we need more products. Of course, we’re expanding the products. But on that, that’s actually not the comments that I hear from customers. When I meet with customers, they’re enthusiastic about what we do, and they just said, just share more with us because it resonates with what we need. And Roei, I’ll let you talk about the RPO.
Roei Golan: Yes. So as for the RPO, it’s something that we usually don’t disclose. We disclosed it onetime, but it grew high single digits overall.
Kip Meintzer: Next up is Keith Bachman from BMO followed by Andrew Nowinski from Wells Fargo.
Keith Bachman: Thank you for the question. Gil, I wanted to ask about the product market dynamics. If I think about your guidance that you gave, it suggests that products will grow probably low single digits in FY ’23. You grew 4% in Q4, but I think it will be below that for the balance of ’23. And your competitor Fortinet gave guidance kind of mid-teens for product revenue growth. Now there’s probably some backlog usage in that number. But I’m just wondering, you talk about the strength of your product and whatnot and the efficacy of it, and yet you’re still under growing one of your major competitors. So I’m just wondering, similar to the last question, what do you think needs to catalyze or ignite the product-specific side of the growth? And then if you could specifically address the SD-WAN announcement that you made this morning, how important was that and when that might help manifest in terms of improved growth for the product side? That’s it for me. Thank you.
Gil Shwed: Thank you. So first, I mean, as far — first, you are right in many of the things you’ve said, but I’ll give a least the way I view these things. First, we are shifting more and more business from a product perspective to a subscription business. And by the way, we keep doing that with Infinity and even most of our new products, and again, that’s another highlight that it will take some time, but we’ve started it. Many of our new products we want to offer them on a monthly basis, simple pricing model. So it’s really easy for a customer to say, I want to secure a branch that starts, I don’t know, $13 or $15 per branch per month, very easy, very affordable, very simple model as opposed to the complicated business models that sometimes exist in our industry.
That does have an effect whether what’s growing is products or not growing. Same for Infinity. Again, the Infinity contract that we’ve signed throughout all of last year have shown some effect in Q4, and that didn’t necessarily had a big effect on the quarter when we actually got the contract. Now I think the phenomenon that we’ve seen over the last year is that our growth rate was going up, and some of our competitor growth rates was going down. I hope that this trend will continue, as I said. I think the economy now changed a little bit this assumption. If you’d ask me that three, four months ago, I would be far more optimistic. And again, I think we did generate almost double-digit growth rate this year. And in some aspects, internally, we did generate more than double-digit growth rate.
So that’s the plan. And the plan is to accelerate our growth. As I said, our potential and opportunity is reaching more customers, engaging more. And I think we are working very, very hard internally to achieve it. I think we have what it takes, but we need to get our act together on that.
Keith Bachman: And when do you think SD-WAN can contribute, Gil?
