Tooey Courtemanche: Yes, I wish I had an exciting answer for you on this, but it’s pretty much business as usual. The competitive dynamics have not changed meaningfully in any direction. So no, there is really no update to provide there, unfortunately.
Mike Richards: Thank you.
Operator: Our next question comes from Jason Celino with KeyBanc. Please proceed.
Jason Celino: Great. Thanks for taking my questions. Maybe just first as a follow-up question from the Analyst Day on Procore Pay. If we think about the opportunity, and there is obviously the greenfield of customers who might not be using an automated payments process and then there is the share gain opportunity from other legacy payments providers. How should we think about these two opportunities? And maybe what you might focus on over the next near-term?
Tooey Courtemanche: You said two opportunities. We’re talking about Pay. Is there another one? Did I miss?
Jason Celino: Yes, while the customers who might not be using a payments product from anyone and then legacy providers, therefore, share gains?
Tooey Courtemanche: Yes. So the legacy provider customers have been rooting for Procore for a while to come to market with this product line. And we’re having a lot of success there. But we’re also having equal success with folks that have never been on it before. I actually listened to a customer call yesterday where the woman said that when she learned what Procore Pay was going to do for her by saving her so much time every day that she started to cry. So those kind of stories are kind of fun to listen to. But yes, so I think that the opportunity is there for everybody. Remember, this is really a big pain point for anybody who does construction. And so it’s being received well.
Howard Fu: Hey, Jason, this is Howard. I just want to follow up on Tooey’s answer. I want to just make sure that everyone understands, we are still pretty early in terms of the implementation of the rollout of this product. And there is no significant contribution at this point to our results or do we see significant contribution at this point going into in the next fiscal year. It’s going to take time for us to roll this out to the customer base and even in our targeted USGC customers.
Jason Celino: Yes. Okay. That’s fair. And then Howard, maybe just to focus on efficiency, I think it makes a lot of sense moving left on the margin framework. As you think about the leverage, help us understand what the near-term drivers you have at your disposable?
Howard Fu: Yes. So, similar to what has happened throughout this year, the efficiencies have actually come across of all the different parts of Procore, from cost of revenue to all the different OpEx lines. And the company has really rallied around this efficient growth mantra that we have put forth internally. And so specifically, I think we are still going to see that operating margin benefits from sales and marketing, R&D as well as G&A.
Jason Celino: Great. Thanks Howard.
Operator: Our next question comes from Daniel Jester with BMO. Please proceed.
Daniel Jester: Great. Thanks for taking my question. Maybe to start off and not to the labor sort of the macro point, but I would love to kind of hear like, when did you actually start seeing the softness, was it in September, or is this October? I am just wondering, and at the Analyst Day was six weeks ago, and I am just wondering can we kind of dig in there. And then tactically as you think about the near-term macro, is the U.S. and international trends, you expect any divergence, or should we see similarities?
