Allan Thygesen: Yeah. I mean there’s a lot of pieces to that. First, I’d just say, look, we’re really excited about our evolving partnership with Microsoft. As you know, we entered into a large strategic partnership deal with them earlier this year. They are — and we’ve delivered a number of really, I think, exciting new integrations with Microsoft, with Teams, with SharePoint, Builder and others. So I’m — and we have — I think we’re still just scratching the surface of what we’re capable of in terms of integration with a variety of Microsoft platforms. So look, I expect that Microsoft and Google will have some basic eSignature capability embedded in their office suite. But I don’t really think that that’s the core value that we provide.
We provide a lot of richness and workflow around signature that goes well beyond what I think the core office suites will supply. And I don’t feel that that is the biggest competitive risk that we face. I think we’re very pleased with the progress of the partnership with Microsoft and with the other software suppliers. I think most of them view us as the best-of-breed partner for them, and we want to capitalize on that. And, of course, they’re a huge partner for us with our amalgamation to Azure. So that’s a whole separate topic.
Mark Murphy: Thank you.
Operator: Our next question comes from the line of Jake Roberge with William Blair. Please proceed with your question.
Jake Roberge: Hey thanks for taking my questions, and congrats on the great quarter. So given signature usage from existing customers and the incremental new logo next year may be impacted as a result of the macro, how do you expect your expansion motion? So thinking about CLM, notary or premium pricing insurer capabilities like ID verification to perform next year.
Allan Thygesen: Well, I think — on the one hand, I think you will see us expand the number of products that we have that we can offer across the entire agreement workflow, as I outlined earlier. And at the same time, I think if we make it too complicated and itemize to buy too much, we make it harder to buy and we don’t necessarily include some of the features that truly differentiate us from low-end competitors. And so one of the big pushes this quarter that I initiated was a better bundling mechanism to bring together some of these features so that we make — as well as an initial onboarding for new clients to make sure they get off to the right start and that they are using not just the core eSignature capability, but some of the other features you alluded to.
And the early signs of that are promising. So we are, at the same time, I think packaging more of the features that directly relate to eSignature and making sure that we’re fully selling that bundle of features and expanding our footprint to other aspects of agreement workflow that we recharge for separately.
Jake Roberge: Great. Thanks. And then, Cynthia, if you could just add any commentary on the linearity of demand trends month-to-month throughout the quarter and into November. Did anything change over the last months leading into Q4 as it relates to demand or usage of your products?
Cynthia Gaylor: Yes, I would say there hasn’t been material changes from exiting Q3 into Q4, and that kind of informed some of our macro comments. I would say and just maybe reiterate what we said on last quarter’s call, we have been seeing a little bit of shift in linearity in the quarter itself between the months. And so I would say that continued in Q3 in month three. We saw softer linearity leaving the quarter than entering the quarter than we had historically — than we have historically seen in the kind of those quarter linearity trends — intra-quarter.
Jake Roberge: That’s helpful commentary. Thanks again for taking my questions and congrats on the great results.
Operator: Our next question comes from the line of Rishi Jaluria with RBC. Please proceed with your question.
Rishi Jaluria: Wonderful. Thanks so much for taking my questions. Allan, welcome aboard and very much looking forward to working with you. Two questions, if I may, just on the kind of preliminary outlook or framework or whatever we want to call it for next year. Really appreciate the color, a helpful way of thinking about things. I guess, just for starters, if we think about low single-digit billings growth for next year, I’m sure there’s some sort of cadence there in terms of maybe lower in the first half, higher in the second half, just given the macro picture. When we think about that, I mean, that kind of implies that calendar year 2024, FY 2025 will be mid-single-digits growth. And I know it’s way too early to start talking guidance for that.
But maybe more importantly, what would need to be done to bridge that gap from that baseline that you’re talking about based on the billings guidance to a growth rate that you’d be happy with? Because I can’t imagine you’d be happy with — given the market opportunity and everything, with mid to high single-digits growth. So, maybe can you walk through what from an execution and market opportunity standpoint needs to happen to get that growth rate to where you’d want it to be? And then I’ve got a follow-up.
Allan Thygesen: Yes, I think, first of all, we set aside macro, which obviously weighed heavily on us as we looked out to 2024. And you don’t want to presume that the economy is necessarily going to get better. So, that is embedded in our forecast. But looking beyond that, I think the key levers for us are we got to get our digital motion to work much better, and that’s a huge focus and investment area for us now. We think we can capture more business that way. But until we can really prove that to ourselves, we’re certainly not going to put it in our guidance. And similarly, I think we have a series of product initiatives that will roll out over the next two, three quarters that I think will dramatically broaden our footprint.
But again, until we have a little bit more solidity there, it would be imprudent to include that in even a preliminary outlook. So, I think we have — our international opportunity is another one where we’ll be doing some significant investing in 2024. That market is at a much earlier stage of evolution, and we have significant headroom there. So, I think there’s a number of areas where we hope to see significant upside. Obviously, I didn’t join to run a low or mid-single-digit revenue company. So, I’m pushing very hard to get us to a different place, and we’re — we hope to have a lot of news to report on that over the next few quarters.
