Derrick Wood: Got it. Makes sense. And I guess, Dominic, another one for you. I saw your comments around seasonality with respect to the ARR build and how you’re expecting it to be a bit more back end loaded because of engaging more with larger companies that I suspect have more seasonal budgets. But this has been a motion, it’s been pretty consistent for you guys for a while. So what’s different for this year, and perhaps as we contemplate the macro and longer sales cycles? Is that part of the reason for more back end loaded?
Dominic Phillips: No. I think it’s just, it’s more of the first point that you made, if you look at just the ARR mix coming from 100,000 plus customers is now at 48% year ago is that 45% and so we’re €“ we would expect that that to continue that cohort of customers is growing a little bit faster. And at the same time, we’ve talked about de-emphasizing customers that pay less than $5,000 of ARR, where you see more, steady bookings throughout the year, it’s much more consistent. And so, as we expect that trend to continue into FY €˜24 that would lead to a little bit more, back end ARR, net new ARR linearity than what we’ve seen. We don’t expect it to be extreme. But that’s a trend that we expect to continue to happen.
Derrick Wood: Great. Congrats on a great quarter. Thanks.
Mike Chang: So our next question comes from Matt Hedberg at RBC, followed by Kash Rangan at Goldman Sachs.
Matt Hedberg: Hi, guys, thanks for taking my questions. I will offer my congrats as well. Sanjit, you called out the $1 million state government deal as well as a bunch of other public sector wins in your shareholder letter. That’s super exciting to me, I guess. My question is, how big of a vertical is public sector for you? And I think once you’ve when one large state contract that looks almost like a standardization, could that create a bit of a domino effect isn’t what’s good for one state could be good for the others?
Sanjit Biswas: Sure, Matt. So we are excited about governments because they have large complex physical operations. And like you said, there are multiple states out there. So as one state sees value from what we do, and becomes referenceable, it is something that is applicable across the board. Now that the challenge with public sector is the buying cycles are a little bit longer, you do need to get on some of these state contract vehicles. And then they have also different pieces of software they integrate with that we don’t see as often out with commercial customers. So we’re in the process of building out our public sector team, and also all the sort of necessary integrations. But for us, we believe it could be a top 10 industry vertical for us, and we’re excited to continue to invest.
And within government, I should highlight it’s really state and local is the largest opportunity for us because the operations are so distributed. And that’s not just here in the U.S., but also in international markets, Canada, Mexico, Western Europe, as well.
Matt Hedberg: Fantastic. And then Dominic for you, I know you guys signed longer term contracts, maybe looking back at some of those contracts from 5, 6 years ago that are renewing. Can you talk about sort of the renewal yield you’re getting on these because I think, obviously you’ve got a lot more opportunity now a lot more product than you did back then? How are those in trending, in what is obviously a tighter economy?
