We’re super early there and opportunity to innovate and to differentiate are literally boundless, okay? So, again, I would really urge all of you to please visit us at the Enterprise Connect. We’ll have more to share then. And obviously, results will speak for themselves, but you can expect that even as we are very much moving towards a better balance between growth and profitability and perhaps what we said in the years past. Our commitment to innovation is unwavering. We have well over 1,000 engineers involved with the company. It is not an area that we’re saving on or skimping on so expect more goodness in that area.
Operator: The final question today is from Brian Peterson with Raymond James. Please go ahead.
Brian Peterson: Thanks and nice job on the free cash flow ramp this quarter. Sonalee, I appreciate all the color on the demand environment. But let me hear about what’s going on at the top of the funnel. How has that trended? Any notable changes in mix there via a partner versus direct or enterprise new products, would love to get any perspective there? Thanks guys.
Sonalee Parekh: Yes, sure. Thanks for the kind words on free cash flow. So, in terms of what we’re seeing in the demand environment, I would say there’s not a really big change to call out. One thing that I would just comment on is we did see a stabilization in SMB. We saw strong trends from the enterprise side of the house. And we don’t really tend to give you much more breakdown in terms of segments or what we’re seeing from the segments. But in terms of how the guidance is reflecting what we’re seeing, it’s assuming this continued stabilization, so no real improvement. So, if we were to see an improvement, for example, in the upsell environment or if we were to see traction from some of the steps we’re taking around churn to improve net retention, then that would be upside in terms of what we’ve laid out to you today.
The other thing I just want to say before we conclude the call, Vlad and I and the senior management team are extremely focused on SBC. And hopefully, you saw that in the way that I guided there’s meaningful, meaningful reductions in 2024. So, we’re guiding to 16% coming down from 20%. But we’re not going to stop there. Net new grants for 2024 will be down by approximately 50%. but we will continue on our drive to bring that down and you should expect further several hundred basis point improvement as you look forward to 2025. This is something that we take very seriously and thanks for calling out the free cash flow and mentioning the free cash flow, but we care about free cash flow per share. And hopefully, you will have noted that the free cash flow per share growth that we will deliver for you in 2024 is 25% year-over-year growth.
So, I look forward to spending more time with all of you in the conferences coming up over the next several weeks. But just wanted to be sure that, that point was taken home.
Operator: The conference has now concluded. Thank you for attending today’s presentation. You may now disconnect.
