Craig Safian: I mean, I think it’s stabilization, George. So, we haven’t yet seen signs that market has shifted yet. We do believe, again, over the medium-term or the next year, year-and-a-half that, we will get back to more normal growth trends there, but, I would say, what we saw in Q3 and what’s embedded in the guidance. And again, I mean, the reality just also remember that, contract value or growth we sell in Q4 really has almost a de minimis impact on the full-year research revenue numbers from a subscription revenue perspective. And so, stabilization baked in there and similarly on the non-sub line we have not assumed any crazy rebound, sort of what we’re seeing is stabilization, and that’s what we’ve modeled into the guidance.
George Tong: Got it. That’s helpful. And then perhaps to ask the margin question a little bit differently, you’ve raised your full-year guidance for EBITDA margins, once again this quarter, can you provide your latest views on what structural EBITDA margins are, and if the factors that led to your improved full-year outlook for EBITDA margins can also lead to an improved view on structural margins?
Craig Safian: Sure. Happy to. So, I think, the view is really not changed from prior quarters and prior discussions. So, what I’d say is, our view on our margin profile today is that the base or foundational margins are in the low 20s. Obviously, that is significantly higher than they were before the pandemic and before the CEB acquisition. In addition to that, as always, we believe there is operating leverage in the business and that our margins will go higher over time. We’ll give guidance in February as we always do. We talked about on some of the other OpEx questions, this year’s operating expense as a reasonable starting point to think about the margins and the overall P&L for next year. But just obviously keep in mind that there are other things beyond just the OpEx level and the level of investment we put into the business next year that will impact.
The margins most notably where we end this year from a contract value perspective, because as we’ve talked about, there is a lag in terms of the revenue and the CV relationship, both when CV decelerating, but also when CV begins to accelerate as well. So, it does take a quarter or two for a lag for the sub-revenue to kind of catch up with the CV. And so again, just be mindful of that as you think about 2024 as well. We’ll provide all those details in February when we come out with our initial guidance for 2024.
George Tong: Got it. Thank you.
Operator: One moment for our next question, please. And it comes from the line of Jeffrey Silber with BMO Capital Markets.
Jeffrey Silber: Thank you, so much. I’m not going to ask a margin question. Actually, wanted to talk about pricing. If I remember correctly, this is the time of year when you start instituting price increases, and I’m just wondering how that been? If you’ve seen any pushback in terms of client may be pushing back on what they’re buying. Thanks.
Gene Hall : Alright, Jeff, I’ll get started. Which is — as I mentioned earlier, we haven’t seen any, it is the time we increased prices. It rolls through obviously as clients renew. And I’d say it’s a normal environment. We haven’t seen any pushback.
Craig Safian : Yes, I mean, Jeff, so the major price increase for us goes in went into place two days ago on November 1st. So, we’re obviously very, very, very early in that cycle. But again, if you think about it, the average client is spending order of magnitude $250,000 or $260,000 a year with us. So, the difference between 4% and 5% is not a lot of money in the grand scheme of things. And again, we’re very focused on making sure that we’re delivering value well in excess of that $250,000 or $260,000. So, we’re generally able to sell the price increase, again, sort of as a normal course of business for us.
