Koji Ikeda: Got it, Hardeep. Thanks for that. And just one follow-up for me is so you mentioned 20% pipeline growth, which is fantastic. But as we head into 2023 into a potential recession, how should we be thinking about if it becomes harder to close deals managing €“ maybe investing more to close deals versus letting the growth moderate and maybe seeing a little bit more margin, how should we be thinking about that growth versus profits kind of equation in a slowing €“ a potentially slowing demand environment?
Hardeep Gulati: I think one of the things we’ve been saying is the K-12, the base funding environment is largely insulated from the recession aspects as well for the funding is fairly stable if you’ve seen the last 30 years of K-12 funding. IT is a very small portion of that, and typically, even more important as they deal with the broader aspects of their organization. Ester Money, which is almost €“ it’s still $140 billion plus, which they have lot of it needs to tie to also proving that these funding is working. So some of the demands on the IT is healthy part of that equation as well. So we also see that to be. So we’re not really expecting any of this. And I think that’s demonstrated, as we were mentioning, our sales velocity or sales cycles actually are decreasing.
Sales velocity continues to improve. So we’re not expecting that. But to your point, we’re always looking at profitability growth as well. We don’t really push for growth as much as to make sure there’s a balanced sustainable growth, which comes with profitability. And a lot of time, we are walking away from the deals which are not profitable.
Eric Shander: Yes. I mean, Koji, it’s Eric. I would just add. I mean we’ve said this before, kind of given our PE heritage, right? We want both. We want top line growth, but we also want to add a profit. And given the fact that we are running mission-critical systems, it’s not like a lot of the districts have option to be able to trading the systems out. So we feel extremely bullish as we kind of head into next year, and we look forward to finishing the year strong and then certainly demonstrating the guidance that we’re going to showcase next quarter for full year 2023.
Koji Ikeda: Thanks, guys. Thanks so much for taking the questions.
Hardeep Gulati: Thanks, Koji.
Eric Shander: Thanks, Koji.
Operator: The next question is from Brian Peterson with Raymond James. Please go ahead.
Brian Peterson: Thanks gentlemen and congrats on the quarter. And Eric, congrats as well, very well-deserved. So I wanted to follow up on the last question, actually, and I think it’s pretty clear in this quarter that the cross-sell momentum is pretty strong. I’d actually love to understand maybe the sales cycles for some of those. And have they come in a little bit quicker than expected? Because we keep hearing about some of the needs for these districts and the problems you’re solving. Are they actually coming to you in buying in a lot shorter sales cycle than you’ve seen in the past?
Hardeep Gulati: Brian based on the data we look through across all our products, that is to be the case that our sales cycle has actually improved, not just year-over-year by almost 25%, 30%. Even quarter-over-quarter, it seems to be improving and healthy. But one of the key things, I think just to again call out is that a lot of times, I think the differentiation we have is the diversity of our platform. So €“ and we’re not €“ kind of compared to niche vendors or dependent on just one particular product and how that sales cycles might change, we’re not overly exposed to that. And that’s what’s exciting about us is that there might be times where one product might have a lesser demand based on the seasonality or what’s happening in the market, but the beauty is we don’t get exposed like other vendors for that.
