Howard Fu: Yes. And just to follow-up on Tooey’s answer, we are not seeing that same level of deterioration on the upper end of the market. The other thing that I will add is that even though our net adds are down, our gross retention rate is still strong at 95%. So, it’s not necessarily customers leading the platform or canceling. It’s really about that willingness to make new purchase decisions. The other thing to keep in mind is our customer count is heavily skewed towards the down market towards the SMB space. And so that’s what you are seeing in terms of that split in terms of emerging versus the enterprise space. And most of our ARR is actually up-market as well. So, keep that in mind.
Brent Thill: And Tooey, just as a follow-up, if you look across all your software payers at $1 billion of revenue, the average margin is 12%, you are guiding to 1 to 2. The question is, why not going to hurry up offense on expense control, trying to get the margins moving? It’s clearly on investors’ minds. What’s causing the non-hurry up offense on the expense side or maybe there is, maybe there is a greater sense of urgency that we are not hearing out of your commentary.
Howard Fu: Hey Brent, this is Howard. I will answer that one. I actually don’t think that we need to go into hurry up office because this is something that we have been doing for a number of quarters now. Remember thinking back when we were coming out of ‘22 and going into 2023, we talked about being way more intentional about our hiring of our resources. And then also, when we talked about at Investor Day was 2023 being a catch-up year in terms of our margin profile. And so some of what you are seeing is that catch-up in that plan to be above the framework this year and in terms of our margin expansion. And then on top of that, we have been even more intentional and more disciplined in terms of improving our spend and margin profile. So, to answer your question more directly, it’s not a hurry-up office because we have been doing this and we are guiding to a place where we are at 1100 [ph] basis points improvement year-over-year.
Brent Thill: Great. Thank you for the color.
Operator: Our next question comes from Nick Altmann with Deutsche Bank. Please proceed.
Nick Altmann: Awesome. Thanks guys. I wanted to circle back to DJ’s question, just around how you guys made comments as it pertains to the installed base, how the installed base is actually pretty healthy relative to sort of the net new side of the equation. So, I am wondering if you could comment what’s sort of driving the strength there? Is it more on the volume side, or is it more kind of on cross-selling additional modules into the installed base?
Howard Fu: Yes. Hey, this is Howard. The installed base, there is two things. One is the proportion and the actions of the installed bases are bases taking, which is out that a bigger proportion of the installed base is renewing flat versus that dichotomy, right. So, that makes me feel better about the predictability and the narrowing of the range of potential. In terms of the strength of expansion, expansion is still outweighing downgrades. And so on the net, it’s still a positive for Procore. And then in terms of – further in terms of that expansion, it’s still largely going to be more focused and more strength in terms of that enterprise space versus down in the emerging side.
Tooey Courtemanche: Well, also I think to answer the rest of the question was, most of the increases historically has been volume, and that’s true today. And as though we are working more and more on cross-sell, but it’s more like a – yes, it’s more like an 80-20 mix of volume to new products.
Nick Altmann: Okay. Super helpful. And then just one more quick one, if I may. You guys had mentioned that there were a handful of larger deals that sort of slipped out of October – out of September, excuse me. Just to clarify, are those deals that did slip out of 3Q, did they close, are you still sort of working on them, just wondering if you could comment on that. Thanks.
