Allan Thygesen: No, I agree. I set with that. And look, we’ve said that it was going to be a few quarters of downward trend, and then we will see how we do with the product release system, but we certainly want to get it to a healthier level. And it’s our expectation that we’ll be able to do that. So that’s much as we can say at this point.
Alex Zukin: Okay. That makes sense. And I guess the other question is, again, it feels like a bit of a tale of kind of two cities, right? To some extent, you’ve got the double-digit growth, both in billings and in CRPO and subscription revenue. But then to the question Karl asked, like your guidance implies billings in the very low single-digit range in the second half. It implies that even subscription revenue growth kind of goes down into the 6% range exiting the year. And I appreciate the conservatism we do love it. But if you think about the business itself and that’s why that NRR question comes back. The Street has you accelerating in Q1, right, and to some extent, accelerating next year. So just help us level set like that exit rate that you’re looking at for Q4, what would be the factors that you would be expecting to kind of have to see for it to kind of get better from there?
Blake Grayson: Right. So again, I mean, our full year guide is in line or better than it was in the previous quarter. So we’re staying in line or better in that guidance. I think that like we’ve talked about and referenced a couple of times on the call that the strength in the on-time renewals is what has driven that outperformance in the first half of the year. And so — and then the pressure like you noted on DNR expansion rates and macro uncertain, it creates volatility for us. And frankly, over the long term, and I’m not putting a time line on that, but it’s how do we reaccelerate growth and particularly around the product innovation that we have in front of us. And so as a company, I would tell you that 70-plus percent of our time as a leadership team is on how do we evolve this product road map in a way that customers like appreciate and provides us the opportunities for expansion.
And so that’s what we’re solely focused on. We believe that if we can deliver on that road map, the results will show themselves.
Allan Thygesen: I agree with that. And I would just say, in my mind, the best thing that happened this quarter, yes, I’m proud of the solid execution, kudos to the team. But the fact that we were able to present our vision and road map to customers and partners, and that they validated — enthusiastically validated that everywhere I went. I was incredibly gratifying and tells us I think we’re on the right path. So I think we’re very bullish on the long-term future for DocuSign. And I think that bullishness just became more pronounced as a result of the sharing of the road map and the feedback that we got. So that is our goal is to deliver against that. And I think if we do that, all will be very — all will be well.
Allan Thygesen: Maybe to close. Thank you, everyone, for joining us today. We’re pleased with the results and feedback and we’re driving transformation here at DocuSign. We want to balance our product investments with operational efficiency and drive shareholder value. Thank you for joining us.
Operator: Ladies and gentlemen, this does conclude today’s teleconference. Thank you for your participation. You may disconnect your lines at this time and have a wonderful day.
