Jeff Van Rhee: Okay, got it. Yeah, a lot of moving parts there. Understood and helpful. So and then on the – as it relates to Billings in the quarter, obviously you’re starting to get a little more time under your belt from the most recent Court ruling. What impact did it have on billings in the quarter? I think you said SAP was actually a good improvement. But specifically, what are you seeing in billings as an impact of the Court ruling? And somewhat similar question just where is the pipeline now versus a year ago?
Seth Ravin: Well, let’s start first with pipeline. Pipeline continues to grow. As you know, we as a company strive for a 4x pipeline, even though most market companies would strive for a 3x pipeline, according to what they want to close for their plan. We always have a little bit higher, because we have more complexity in our deals around licenses and all sorts of terms and challenges that are a little unique to our business, which means, your fall off rate is higher. We generally close around 30% of our pipe, that’s been pretty consistent in that sort of 25%, 30% range. And so, pipelines growing means that we have a bigger opportunity to close more business. So that part has continued to move forward. As far as impacts of all the, again, the latest litigation.
Let’s talk about the results of the Rimini II trial. Let’s talk about the results of the contempt hearings, and then the findings. And then the recent appeal where we had some of that pulled back by the Court. I think the answer is, we don’t really know. I mentioned how SAP was up over 60% in billings for the quarter, year-over-year, Oracle products and services were down about 9%. Now, it’s easy to try and read some things in. you could say, for example, we were so busy selling SAP that we didn’t sell as much Oracle, that’s a conclusion you could reach. We were very busy with SAP and it’s the same seller group. So if you’re selling so much of one you may not have focused on the other. We may have seen impacts from the litigation.
There could have been customers who decided not to join us, because they’re concerned about what they saw or not understanding it just as everyone’s trying to wait and see how all these Court hearings and decisions come down and get clarified. But it’s unclear to us to have any sense as what that combo mix is that would have driven that 9% less Oracle number. But I think those are all kind of reasonable conclusions that could have happened.
Jeff Van Rhee: Okay, fair enough. I’ll leave it there. Thank you.
Seth Ravin: Thank you.
Operator: Thank you. [Operator Instructions] Our next question comes from the line of Brian Kinstlinger from Alliance AGP. Your line is open.
Brian Kinstlinger: Thanks for taking my questions. It’s good to see the earnings power, I think of the company. And I’m thinking about where the stock is and creating shareholder value. Not sure if your plan for sales investments that you’ve discussed last quarter, which were right when the rulings happened with Oracle, but sales execution was stronger, outside of Oracle that you discussed. And you’re clearly unsure of what’s going to happen with the Oracle ruling and how to react. So are there any thoughts about going to market with what you have today, flexing the earning power of the company kind of like you did this quarter better than we all thought, and holding off on investing in more sales and marketing?
