Mo Katibeh: Well, thanks for the question, Tim. This is Mo. What I will tell you is, as we said in our prepared remarks, we are continuing to see overall ARPU staying strong and steady over $30. This has been a very consistent metric that we have given for three quarters in a row now and I think something that speaks to the resilience of this product set in the marketplace. To the second half of your question, I articulated that our win rates have remained steady and strong as well. So when you think about those two things together, what I would tell you is, broadly, no, we are not seeing any elevated levels of competition that’s resulting in deal loss or ARPU degradation. Thanks for the question.
Operator: Our next question will come from Brian Peterson with Raymond James. Please go ahead.
Brian Peterson: Thanks for taking the question and I appreciate all the commentary, especially about into 2023. Mo, I just wanted to double click on what of your comments. I know you are not alone in seeing sales cycles expand. I’d love if you could open up on that maybe a little bit more in terms of is that more on the net new side or has the expand motion with your enterprise customer base, has that slowed down a bit as well? Thanks, guys.
Mo Katibeh: Good question. What I will tell you is that this modulates a bit quarter-to-quarter. But essentially, approximately 60% of our new bookings comes from acquisition and approximately 40% comes from net upsell. We are generally seeing those two things move together with no meaningful change over the last few quarters. And so as you think about the trends that I articulated, they are playing out across the Board, whether it’s a new ship from on-prem to cloud or as people are thinking about spending incremental dollar expanding what they have today. Thanks for your question.
Operator: Our last question will come from Matt Stotler with William Blair. Please go ahead.
Matt Stotler: Hey, team. Thank you for taking the question. We get a lot of inbound from investors on your stock-based comp as a percentage of revenue. It had increased there for some time into the — well into the 20s and it seems to actually be coming down over the last several quarters. I would love to just get an update on how you are thinking about plans to continue reducing that and then where ultimately you would like that to kind of settle out in terms of percentage of revenue?
Sonalee Parekh: Thanks. I will start and Mo may want to add a comment or two. But you are absolutely right, it is something that we have been focused on and if you think about where we are guiding for full year 2022, you should see about a 400 basis point improvement in stock-based comp as a percentage of revenue. And the reason that the spend was elevated is partly by virtue of — when we gave out those grants, it was at a much higher stock price. It is something that we manage and evaluate as a management team. And what I would say is, it will continue to be one of the levers we use to incentivize our employees. We think it’s really important for our employees to be aligned with all of the shareholders and so it is something that we continue to use.
But you should expect that number as a percentage of revenues over time to stabilize. You won’t see as strong an improvement as you saw this year. We made a big step change. But over time, that should stabilize. And then, secondly, just in terms of SBC, the flip side of that is, we also use buybacks at times and you saw this quarter in my prepared remarks that we did $20 million of buyback — $20 million share buybacks this quarter and that helps to offset the dilution as well. So I don’t know if you have anything to add, Mo.
