Art Zeile: The cost structure is stable at this point in time. We do have the ability to make a marketing, digital marketing campaign changes almost literally daily. And so, we have the ability to use that as a significant lever. But I would say that in general our expense structure is where we want it to be from here moving forward.
Eric Martinuzzi: Got it. Well congrats on getting your CFO candidate. I look forward to connecting with her when she starts in December. Thanks for taking my question.
Art Zeile: Absolutely Eric, thank you.
Operator: And our next question comes from Kevin Liu from K. Liu & Company. Please go ahead with your question.
Kevin Liu: Hi. Good afternoon. I wanted to start with the Dice bookings growth trajectory here. You talked about kind of the top-up impact over the past two quarters here. Any way you can quantify, how big of a drag that’s been, on the bookings? And then as you move into kind of your stronger and more typical renewal periods, wondering if that impact just kind of naturally abates since clients generally wouldn’t be topping up then?
Art Zeile: I think that’s a great question. And I am going to ask Julie to respond to that. She is the one that’s been hit deep and looking at these trends. So, Julie, do you want to speak to that?
Julie Roby: Yes. So, the topping up of our customers probably impacted our renewal rates by a few percentage points each quarter. So for our larger staffing and recruiting firm, that was a drag on our overall renewal rate. But again, as Art was talking to before, it was — our renewal rate was also impacted by the smaller customers that were returning.
Kevin Liu: And just as it relates to kind of a Q4 and Q1 renewal periods, do you guys typically have that top-up impact to work through still, or since those are more usual time frames, does that kind of headwind go away?
Julie Roby: Yes. I would say that that headwind goes away. We saw more of the customers topping up in the second and third quarter of last year. And so, that is moving behind us as we go forward and our customers have normalized their contracts to the demand that we are seeing today.
Kevin Liu: Great. That’s helpful. And then just for both Dice and ClearanceJobs. As you look at kind of the top of the funnel and you are marking qualified leads, have those continued to grow or have you seen any sort of declines there as well just as you pair back on some of your marketing investments?
Art Zeile: I would say that, we’ve seen a pretty steady state of marketing qualified leads, although, coincident with the lower demand for tech job postings in general, I’d say that we’ve seen less commercial accounts, marketing qualified leads as part of the mix. So when we say marketing qualified leads, we’re talking about all the leads that come in that service, both the Dice new business teams, the commercial accounts, and the staffing recruiting team. And proportionally we’ve seen more staff and recruiting leads come in, but the same total amount. And I think that that is consistent with the view that a lot of companies have decided to use staffing recruiting more frequently this year because it means less risk to them. It means that a person’s not on their payroll directly.
Kevin Liu: Art you mentioned kind of the see a forecast for kind of a return to positive growth in IT staffing next year. As you kind of look out, and I know it’s still early here how are you guys thinking about that forecast and whether you would want to start to renew some of the investments either in the commercial account team or elsewhere in the business?
