Armon Dadgar: Yes. Thanks, Billy. I think right now there’s a whole lot of misinformation in the market associated with our license change to the business source license. In practice, there is really no impact to our customers, our partners and 99-plus percent of the user community around the tools. So, what it’s really about was really addressing the sense that there’s a handful of effectively product clones that are cloning our product, and that’s been enabled by our traditional NPL license. And so what this changes about is, what’s the right long-term model for us to continue to innovate openly within the community. And so, that’s really what was motivating it.
Operator: And I show our next question comes from the line of Patrick Walravens from JMP Securities. Please go ahead.
Patrick Walravens: Great. Maybe for you, Dave. I mean, just if you look at this business from a high level, in Q3 of last year, you were growing 52% and your guidance for this Q3 is 14%. I just never would have expected such a big slowdown. So, maybe rank the factors that have driven that slowdown? And when could it reaccelerate?
Dave McJannet: I’m not sure I have a simple answer to the elements. Certainly, I think the optimization cycle for infrastructure is all in the same path as everybody else. I think the reality is if you look at our Global 2000 customer adds and the customer wins that we’re at and they’re very, very consistent. What we’re just seeing is a slightly lower ASP starting price as those companies are applying more caution to the buying cycles. So, if I were to point something out, it would really be the starting point for some of these larger customers that are taking the propensity to start smaller rather than what was happening a couple of years ago. That being said, they’re not changing their plans, their cloud plans remain intact, and we’re still winning the market.
It’s just a function of the scale at which people are beginning. Point number two, I think we’ve seen an elongation of sort of the expansion and extension cycles, not surprisingly as a lot more scrutiny has been applied to the budgets that are out there. And I’ve always been of the view these sort of cyclical changes in fact, different companies at different — who are at different stages of their overall life cycle. We are sort of in early stages of our growth arc, and so have 4,000 customers, not 40,000 customers to work with. And I think that’s indicative of what you’re seeing in the impact of that on us. That being said, like I said, these trends are next moving forward, once we get to the digestion cycle that is in every Global 2000 account for every software vendor, we’re super optimistic that we can get the growth rates to continue to be super aggressive.
And we’ll keep executing towards that vision.
Patrick Walravens: I just want to take a shot at when we might see it?
Dave McJannet: I would refer to the guidance that you’ll see from us at the end of this year, which reflects our best view of how that continues to progress. I think anything else will be speculation.
Operator: Thank you. I’m showing no further questions in the queue. That concludes our Q&A session. At this time, I would like to turn the call back to Mr. Dave McJannet for closing remarks.
Dave McJannet: Just like to express my thanks for the participation from everyone here, and we certainly appreciate you dialing in and for all the questions. So we look forward to speaking with many of you at our event in October. Thank you.
Operator: Thank you. This concludes today’s conference call. Thank you for attending. You may all disconnect.
