Brent Bracelin: Thank you. Good afternoon. Despite the challenging macro here, it looks like organic CPR growth actually ticked up this quarter. Your Q4 guide here implies subscription growth organically will remain I think for the fourth consecutive quarter in this 28% range. So my question here is, what is resonating with the platform with banks at least willing to send money here? Is it cost savings that’s primarily still enticing some banks to continue to lean in on the software stack? Just be curious to hear any sort of color commentary on what’s resonating, just given the consistency that we’re seeing in subscription growth and a slight uptick in CRPO.
Pierre Naudé: Yes. First thing, in general Brent €“ thanks a lot for your question. The platform approach that we take and digital transformation in general are compelling value propositions, and it’s very interesting. The drivers of digital transformations, very slightly as you go around the world markets. As I mentioned before, when you look at Japan, there’s some aging population and a reduction in the workforce. That is a massive issue for that economy. If you come down to Australia and New Zealand, it’s more of a modernization, profitability drive. If you go to Europe, it’s actually driven by compliance regulations, etc. and visibility into their lending practices as well as ESG. When you come to the U.S. and its profitability, market share drivers, efficiency, cost reductions and compliance.
So it varies and the emphasis is just slightly different in different places. But digital transformation is here to stay. Banks know it’s not a decision anymore. It’s actually an impediment, and then some are leaders and some are laggards. But that’s what we’re seeing in the market in general. So the trend for us for the long-term future is fantastic and I see it in the pipeline. I just think we have to get through this slight sentiment of uncertainty as we get through the economic turmoil.
Brent Bracelin: Great! And then David, just a quick follow-up here. As you think about kind of 20% growth next year to 10% EBIT margins, to the extent that business maybe starts to pick up, would you look to invest towards the back half of the year in hiring capacity for the following year or how are you kind of thinking about the balancing kind of growth and profitability going forward?
David Rudow : Yes. Our number one priority is growth. We are committed to that rule of 30 model, as we’re €“ because we are just starting planning now, we’ve got an important Q4 in front of us, so it’s early in the process. But we are looking to make investments as the market improves. So if the mortgage market improves, if FX turns, that could change that, but for now we’re planning on 20% revenue growth, and that will be 20% subscription, 20% total and targeting that 10% margin target for the year.
Brent Bracelin: It makes sense and certainly encouraging to see the progress this quarter. Thank you.
Pierre Naudé: Thank you.
Operator: Thank you. One moment for our next question. And our next question comes from the line of Brad Sills from Bank of America. Your question please.
Unidentified Analyst: Hi! This is Carly on for Brad. I just wanted to ask a follow-up on the macro. I guess it’s glad to hear that new expansion momentum remains strong. But just curious, in the U.S. I guess in particular, what have you been hearing from, you know your conversations with the CIOs with regard to their willingness to take on these, I guess new digital transformation projects for loan origination for the upcoming quarter and also on the upcoming year 2023?
