Steve Beauchamp: Yeah. So I mean, I think, we were able to obviously maintain our guidance for the year. We had a beat in the quarter. So I think just from a sizing perspective, this was not the biggest needle mover just in terms of the impact of employees on the platform. We’ve got essentially, a full look at the first three months and we get an early look at the fourth month and we’ve kind of factored that into the year, and we’ll still be able to maintain our guidance for the year, and we feel pretty good about it. Knowing that, this is the first quarter of the year and in our business, there’s a lot of sales that happen in the next quarter that gets started in January. So there’s just — I think traditionally if you look at the way we think about first quarter is we’ve got a lot of execution.
We sell and implement a lot of businesses within that same quarter. And so I think it’s a combination of seeing just a small amount of softness in employees on the platform and just the normal approach we take on a first quarter of fiscal year.
Brad Reback: Perfect. Thanks very much.
Operator: Thank you. One moment for our next question. And that will come from the line of Bryan Bergin with TD Cowen. Your line is open.
Jared Levine : It’s actually Jared Levine on for Bryan tonight. In terms of the sales headcount, can you provide an update on your sales headcount growth intentions for FY ’24? And then can you remind us when you typically do most of that sales headcount hiring during the fiscal year?
Toby Williams: Hey, Jared, it’s Toby. Yes, I mean I think as we’ve said before we came into the year fully staffed sales headcount up 18%. And most of the hiring of that headcount comes in during that. We hire all throughout the year but I think you see hiring season for the sales team really in that spring timeframe. And I think as we’ve said, before we’re really happy with the level of talent across the sales team really happy with the class that came in coming into this fiscal year. And as Steve said, I mean, we’re right in the selling season. And so I think we came through Q1 really happy with the performance of the team and happy with where we sit from a staffing perspective as we came through Q1 this year and on into selling season.
Jared Levine: Great. And then in terms of the enterprise segment let’s call that 1000-plus employees how are your win rates there the past 12 months? How do those compare to prior years? And can you update us in terms of like the mix of clients that fall in that enterprise segment?
Steve Beauchamp: Yeah. So we have over the last several years focused some of our most experienced reps on some of these larger market opportunities. They were just happening more naturally in the market. We kind of always — we’re focused on those when they became available but we definitely have seen increased traction up market. I think we’ve called that out probably over the last two years. I wouldn’t have anything from a win rate perspective to tell you. They definitely have been pretty strong for us. If I were to look at first quarter which is kind of interesting I would call it broker referrals and really our core team as being the strength of the sales force in first quarter, which is from our perspective the largest part of the market and where we focus the most. So that was a definite positive.
Operator: Thank you. One moment for our next question. That will come from the line of Mark Marcon with Baird. Your line is open.
Mark Marcon: Hi. Good afternoon and thanks for taking my question. With regards to the sales pipeline Steve or Toby, can you describe how that sales pipeline looks right now compared to a year ago? And also can you describe what you ended up seeing during the first quarter in terms of sales conversions? Are clients acting in any way in a more hesitant manner? Or is the cadence relatively similar to a year ago in terms of being able to close sales?
Steve Beauchamp: Yes. So I think the sales pipeline is building nicely as we are really in the throes of kind of selling season. Lots of execution in front of us. I would say nothing major, Mark. I mean maybe at the margins you might hear from spots in the sales force where it’s taken a little bit longer for people to make decisions. But I wouldn’t say that’s uniform. I would say that we’re hearing that a little bit at the margin. And that would be really the only call out.
Mark Marcon: Any change at all in terms of like who you’re going up against? Or are there any new competitors that are out there? Any private players that are competing for the same clients? Anything that you’re seeing that’s different?
Steve Beauchamp: I think from a competitive front, it’s absolutely the same in usual suspects. It’s always been a very competitive environment. That definitely has not changed. There’s only a handful of private companies of any size or scale. That really hasn’t changed in terms of whether we’re seeing them any more or less. So we really feel good about the competitive position we’re in especially with the product investments that we’ve made and all of the new products that we’ve been able to release and so that becomes a big point of differentiation just like it did last year.
Mark Marcon: Great. Thank you.
Operator: Thank you. One moment for our next question. That will come from the line of Raimo Lenschow with Barclays. Your line is open.
Sheldon McMeans: Hey. Great. This is Sheldon McMeans on for Raimo. Thanks for taking our question. I wanted to ask about interest coming out of Elevate. You talked about several thousand clients at the event. How did that look year-over-year and the pipeline exiting that? And does that pipeline provide a level of comfort around the reiterated full year guidance? Thank you.
Ryan Glenn: Yes, sure. So I mean great call-out for Elevate. I think as I said in the prepared remarks it was our best Elevate to-date. We had thousands of attendees there. And I think we felt really good about the level of attendance and the level of client engagement both from an existing client perspective and then the level of focus on our product and our product differentiation that that gives us the opportunity to talk about with our client base. So I think overall we feel really good about the event. And I think as Steve has said feel pretty good about the momentum that we have coming out of Q1 part of that is certainly around Elevate and part of that I think is just how we’re executing from an overall go-to-market perspective. So I think overall feel very solid coming out of it.
