Tooey Courtemanche: Yes. So Dylan, the good news is that the way construction is delivered, everyone benefits from being on the same team. So, it doesn’t matter small, medium or large. Where I would say we are going to be putting some of our focus is on the upper end of the market, the enterprise customers that are more stable and they are more optimistic right now on looking at the projects that they are working on and trying to bring their collaborators onto the Procore platform. The higher up we go in the market, the better the sentiment is. And actually, I want to point out, one of the reasons why the sentiment is better up-market than it is down-market is simply because they run a much more diversified portfolio, the bigger they are.
And those diversified portfolios gives them the confidence to make bigger purchasing decisions and to partner with people. And then the inverse is true as you go down market, they have less optionality. So, we are going to focus on converting as many collaborators as possible, but we do see a lot of opportunity at the upper end of the market because of the stability that we are seeing there.
Dylan Becker: Got it. Okay. That makes sense. And then, Howard, to going back to kind of the confidence in that range of scenarios, you called out kind of normalized cRPO momentum there in the high 20-ish type of range. I guess wondering to what extent obviously, that gives you good visibility in kind of the next 12-month cycle there. But to what extent also does project duration layer into some of the stability from a volume perspective, if that makes sense?
Howard Fu: Let me come back to the project duration to get more clarity there. But I just want to be clear, we do not expect the demand alignment and the challenges that we are facing, right now in the demand environment to improve. In fact, we expect it to get more pronounced into Q4 as well as into 2024. And that likely will get reflected in our financial metrics going forward. Specifically on project duration, can you clarify that question? I am not quite sure what the question is there.
Dylan Becker: Tied to the volume exposure for multiyear projects in nature, so some of the larger scale mega projects, maybe it ties into the enterprise segment as well, but given kind of some of the visibility into the volumes.
Howard Fu: I think – let me try to answer and see if this answers your question. This cautiousness in the sentiment has actually caused our customers to be less receptive to committing higher volumes upfront, even if they have those projects lined up. And so even if there are longer project durations, that will still impact their overall portfolio in terms of what they are loan to commit based on what they have got in their portfolio. And so even if that happens, keep in mind when they commit to lower volumes upfront, they are paying a higher basis point for it and they are willing to pay that higher basis point even if they had that backlog. So, to the extent that project durations work itself into that equation for our customers, it still impacts what they are going to commit.
Dylan Becker: Got it. Okay. Thanks guys.
Operator: Our next question comes from Brent Thill with Jefferies. Please proceed.
Brent Thill: Thanks. Just on the customer count, your sixth quarter rolling average or more than 200 customers shy of what your average was. And I know you mentioned the low end. But are you seeing the high end tail off as well?
Tooey Courtemanche: We are definitely seeing a more concentrated down market than it is up market, primarily because we think it’s driven by just the macro, the overall demand environment that’s impacting the that segment. But what we are finding is that the lower you go down in the market to the smaller businesses, the less likely they are to want to enter into a new relationship right now, they are trying to figure out the challenges of their business.
