Anything that that would be helpful in terms of what software projects are getting approved versus not?François Locoh-Donou Yeah. I think, so our security software business has been more resilient. I would say, all — we are seeing all product lines affected, but our security software business has been more resilient. And for managed services and Software-as-a-Service part of our business, which is still a small part of our business overall, but we are seeing that, that is affected, but continues to grow.Where we are seeing the biggest impact, Meta, is in these large multimillion dollar, multiyear project that typically include our ADC solution and it could be ADC and attached security, but these projects have enormous scrutiny.We have seen a couple of them where they are approved all the way up to the CIO only for the COO or CEO or the Board to come and say, we are not doing this project.
And of course, that happens with these multimillion dollar projects, but it doesn’t happen as much with normal deals that are a few hundreds of thousands of dollars.In fact, our — this quarter, the number — if I just speak in terms of volume, the number of multiyear subscription software deals that we did was up significantly relative to a year ago. But when you look at it in terms of dollars, because the large multimillion dollar projects were those that were most affected or postponed, you saw the impact on our software revenue.So that’s the difference we are seeing in terms of the scrutiny on the smaller deals versus the big multimillion dollar deals. And those deals from the feedback we are getting from customers are not getting — going away, they are essentially delayed by one or multiple quarters.
But we do see that demand coming back down the road.Meta Marshall Great. Helpful color. Thank you.Operator Thank you. Due to time constraints, we will take our last question from the line of James Fish with Piper Sandler. Please proceed with your question.James Fish Hey, guys. Most mine have been asked, but just wanted to follow up. François, you actually made the comment that you expect some of the — maybe it was Frank, some of the working capital stuff to kind of work itself out by fiscal Q4 and I know you don’t want to talk about backlog specifically, but it sounds like if it’s going to work itself out by fiscal Q4 that we should expect to kind of exit the year at a more normal backlog level now. Is that the right way to kind of think about it at this point?Frank Pelzer Yes.
Jim, that is the right way to think about it.James Fish Okay. And just lastly, I know you called out SaaS being more resilient and that it’s still growing on a year-to-year basis. Just given now that, that’s become a more resilient part and it seems like it should be at this point a material part of the business. Any further color as to what percentage of the total recurring software business is now overall and if it grew actually sequentially?Frank Pelzer Yeah. Jim, we have not split that out and we are not currently splitting that out now. In terms of growth year-over-year, yes, but we just have not split that out yet.James Fish Okay. Understood. Thanks, guys.Operator This concludes today’s call. Thank you for attending. You may now disconnect your lines.
