Michael Turits : I want to come back to seasonality. So there’s all different seasonality in different parts of your underlying business. To the extent your customers are B2B customers, I guess, I get — well, coming back from vacation, it makes sense to get projects going again. But I would also think that in B2C, as we go into the holiday season, that you would get a boost out of that also. So why wouldn’t we see sort of continuing in a very typical fourth quarter positive seasonality at this point given how much of your business is focused on consumption?
Dev Ittycheria : Yes. Thanks, Michael. Just to clarify, I wouldn’t say it’s coming back and starting new projects. What we’re talking about here, again, is the underlying usage of the database. And so whether it’s internal applications or B2B applications or consumer-facing applications or whatever, what we see is an increase in the underlying database activity. So this is a different dynamic than people kicking off new projects, right? It’s reflecting the underlying activity in the workload or in the application. And given that we’ve seen this now for two years in a row, we’re highlighting it given the behaviors that we’re seeing. I want to kind of call that out for folks as what appears to be an emerging seasonal trend.
Michael Turits : Okay. And then Mike, can you quantify the impact of on rev rec — upfront rev rec of the shift to a larger percentage of — or a larger percent of multiyear EA deals because obviously, as you said, that pulls things forward a bit in terms of rev rec. So how much does from that shift could we have seen in terms of benefits in the quarter?
Michael Gordon : Yes. We’re not going to quantify an exact number. Part of this is also based off of — we assume some level of multiyear deals in our forecast, in our guidance, obviously. We saw a little bit more than that. It was material enough to bother to call out just so people don’t extrapolate inaccurately. And so that’s why we wanted to make sure people understood the dynamic.
Operator: One moment for our next question please. It comes from the line of Will Power with R.W. Baird.
Will Power : Maybe just bigger picture. I know you touched on this a bit. But as customers increasingly focus on TCO in this environment, I’m just kind of curious how much more aggressive customers are getting at moving legacy databases and workloads over to Mongo versus maybe what you’ve seen six, nine months ago? Any real change in pace of that type of activity?
Dev Ittycheria : Yes. So Will, thanks for your question. We recently had a customer advisory board where we had some more — some are larger customers with us for a number of days in Europe. And I would tell you the feedback there was that there’s even more interest in moving off legacy platforms to more modern platforms in this environment because the cost structure and the brittleness of those architectures really are inhibitor for those companies to be able to move quickly and to seize new opportunities or to respond to new threats. And so in this environment, there’s actually even more interest. We’re actually seeing that also in say, an industry like financial services where they’re starting to move to the cloud at scale. And that’s a catalyst for them to be more aggressive in modernizing their tech portfolio. And that’s more of a recent phenomenon, and we’re obviously pleased about the engagements we’re having with that vertical as well.
Operator: I’m not showing any further questions in the queue. I would like to turn the call back to Dev Ittycheria for his final comments.
Dev Ittycheria: Thank you. So we’re really happy with our new business performance and see it as evidence that our value proposition resonates with developers, IT decision makers and our partners. We’re obviously pleased to see the rebound in Atlas consumption during the quarter and expect a continued macro impacts, and so we’re closely monitoring consumption trends. And we will deliver another year of operating margin expansion despite the macro headwinds, and we are committed to profitable growth. With that, thank you for your time today.
Operator: Everyone, thank you for participating in today’s conference. You may now disconnect. Good day.
