Operator: Our next question is from the line of Michael Turrin with Wells Fargo.
Michael Turrin: I think so far so on the macro has been fairly like but maybe one on the competitive environment, if I may. I know it hasn’t belonged, but you had a competitor recently deployed the public market. So I’m wondering if there’s any change in hearing in customer conversions or just how you’d respond to the overall question on the competitive environment.
Mike Rosenbaum: Yes. I think my talk competitive is that things have not changed, and we still have competitors regardless of the circumstances around the ownership of those competitors, they’re still out there. They still remain. I’m super, super happy with our progress to date and I think that I’m positive on our progress is positive about the future at Guidewire. And I think that, that will have impact on our ability to compete in the market successfully. Like I’ve said before, continually up market. I think we have very differentiated offering up market for Tier 1 and Tier 2 insurance company even something to year three. It’s like very clear to me, and I think it’s becoming clearer and clearer that that’s going to be — but the ultimate were in this market will be Guidewire, but we still do have that competition.
And so the news that you’re referring to is pretty recent we — but like my message to the team here at Guidewire, let’s say focus, let’s keep executing, and let’s just keep playing our game. And I think we’ll continue to succeed kind of at least as well or better than we have to date. So that’s my take on the competitive situation. It generally hasn’t changed much.
Michael Turrin: Very balanced. Jeff, stepping away from margin maybe to ARR for just a moment. You’re holding on to the outlook there. You mentioned some of the positive first half impacts, but I think called out tougher compares in the back half. If I look at it, I see constant currency growth rate in 2Q and 4Q that are at least somewhat similar. So just hoping to and that comment a bit more, if there’s anything macro or anything else that might be driving more conservative stance in the revs of your outlook for ARR. Just anything else you can add there is helpful.
Jeff Cooper: Yes, nothing I mean Q4 is a big quarter for us. So we usually move our guidance around too much the earlier part of the year, this comp. So that’s in confidence and in comparison to model. So just when we look at activity in a material like ARR, it’s still happen that this year, the first half was pretty healthy in that regard. And the second out to what we saw last year, closed compares that are toward that. so that’s just kind of closed through the model. In addition to last year being pretty amazing in terms of the overall ARR attrition that we experienced last year. This year, we’re still expecting very solid retention rates around kind of 3% ARR attrition is how we always think about modeling our business. and we’re within the line.
But last year was a very strong year in that regard. So that also created a little bit of a difficult compare. And so those are some of the dynamics that are causing net new ARR to slow down a little bit in the back half of the year, but that was always embedded into how we thought this year would play out.
Operator: Our final question is from the line of Tyler Radke with Citi.
Tyler Radke: Mike, just on the go live, I’m curious how that compared to your expectations and are you expecting kind of the pace of go-lives to increase in the second half of the year?
