Toby Williams: Yes. I mean I think what you’ve heard us say over — pretty consistently over the last handful of quarters is we felt very good about the demand environment. We continue to. We felt really good about the growth opportunity in front of us based on having relatively low share of a very large market. I think what the message has been is we would continue to invest in — certainly in sales and marketing, in sales headcount and in marketing and in channels, a lot of that being in the form of digital marketing, support for our channel initiatives, which continue to drive 25% plus of new business to us. And I think what you’re seeing in the first half of this year is the continued progress and the continued sort of motion against that strategy.
And I think we came into this fiscal year feeling really good about our staffing levels from a sales headcount perspective, and I think our strategy on an ongoing basis has been to continue to add talent in those areas where we can, given that from an overall business perspective, sales and marketing is certainly along with product, one of the big growth-driving areas of the business. And so I think you’ve just seen us continue to incrementally invest there in the first half of the year, pretty consistent with how we’ve described it historically.
Ryan Glenn: And Alex, I’d just add there, if you think about our financial playbook, so to speak, is — and we’ve talked about this over several years, we’ve talked about consistently investing where we can in what Toby just referenced. Sales and marketing to drive continued revenue growth or R&D, which you also see this fiscal year. And offsetting that, you’re seeing the scale and leverage across the areas that we focused on historically and continue to do so. So really strong gross margin leverage this quarter, year-to-date, really strong G&A leverage this quarter and year-to-date. And I think if you add all that together, it allows us to drive in this quarter, over 400 basis points of of leverage from an adjusted EBITDA perspective while investing incrementally, both in sales and marketing and R&D. So I feel really good about that combination in addition to the strong revenue growth we’re driving.
Operator: Our next question comes from the line of Siti Panigrahi with Mizuho Group.
Siti Panigrahi: So you talked about employee growth within your platform. So when you look at the incremental recurring revenue, what percentage of that incremental revenue come from new customer versus cross-selling new products like increasing PEPM within your installed base?
Toby Williams: The vast majority of what you see from a revenue growth perspective is attributable to new logo acquisition. So it’s the result of selling new clients. We do — as we’ve talked about, see certainly the opportunity to sell back into the customer base, that is, on a relative basis, still a smaller part of our overall revenue, still a smaller part of new sales and that continues to be the case through the first half of the year and certainly in this quarter. It’s important to us. We certainly continue to invest in it. And the more that we have introduced new products over time, certainly the bigger that opportunity has gotten, and we’ve pursued it for sure but still had the go-to-market motion and the bigger part of it is new logo acquisition.
Siti Panigrahi: Great. And then a follow-up to earlier questions in terms of employee client employment growth. You have exposure to multiple vertical industry, including tech and financial services, some of this white collar industries. So what’s your mix? Like what’s your exposure to tech and white collar industry?
