Michael Cikos: Thank you. Thank you for that Alpana. And I guess a follow-up, it’s probably full on you. Sorry, Wendy. Just on the financials again. I know in the prepared remarks, again, you were trying to frame or give us some parameters for the guidance, which I really do appreciate. I think one of the things that kind of struck me and I’m hoping you can kind of tease it out a bit. But with respect to the renewal cohort for Taegis, I think the direct line was you guys are taking a measured approach to renewals. Can you help parse through that, are we expecting any impact whether it’s gross retention or net retention, like how should we consider that comment in the context of the guidance that we have today?
Alpana Wegner: Yes, yes. And I’ll let Wendy weigh in here, too. She might have a little bit of color to add. But just from a guidance perspective, what we try to do is make sure that we took into consideration what we’re seeing from the broader macro environment. We continue to see deal cycle times being stable. We continue to see what I would consider kind of stabilization, but the continued scrutiny around deals, the additional layers of approvals, and just overall a bit of cautionary spend behavior. And so when we thought about the guide in particular around the renewal pool, we took that into consideration as well as on balance and the use of the term measure as we were just trying to be really balanced about. We do have a large amount of renewals coming up this year.
That’s a function of as you look into our history, you will see, we had some in late fiscal year 2022 and going into fiscal year 2023, we had a significant ramp of new customer acquisition. As those deals are now coming up for renewal, it’s creating a larger renewal pool. And just being considerate of the macro environment, I wanted to make sure we put that on balance with what I would say is a strong, we view it to be a strong customer satisfaction and performance that we get from our things like CSAT and NPS. And so we’re just being balanced between the two in thinking about our guide.
Wendy Thomas: Yes, I’ll just add a little color to that in terms of we do look ahead in terms of customer health scores and SAT scores and NPS and those things, and those continue to be the highest they’ve been in Q4. So that’s a good leading indicator for us. And we still see the demand for the platform and the customer usage on that platform as indicators of how important it is to the security of their organizations. But we are just going into the year ahead with a measured approach looking out for the full year given a big base up for renewal for some of the first time in this journey with Taegis and this, I am just being measured about that.
Michael Cikos: Terrific, thank you very much guys. I will turn it over to my colleagues.
Operator: [Operator Instructions]. Our next question comes from Hamza Fodderwala from Morgan Stanley. Your line is now open. Please go ahead.
Hamza Fodderwala: Thank you for taking my questions. Maybe I’ll start with Wendy, you mentioned how the spending environment has been more or less stable. At the same time, I think customers are looking for more value from their security spend. So maybe just walk us through how SecureWorks is helping deliver good security outcomes, but also driving ROI?
Wendy Thomas: Absolutely. There’s a couple of ways that we see ourselves as unique in that approach. And I’ll kind of do two sides of the coin. The first side of the coin is that we have a unique approach to pricing that’s very transparent, that we have always had fixed end point pricing even though we are securing, protecting and responding across all telemetry types from business systems, from email to [indiscernible] to end point, kind of the whole spectrum. So that pricing is easily comparable in terms of the incremental value that you get. It also doesn’t have any variable data charges despite the fact that we stored 12 months of data versus most competitors 30 days, again, tremendous security value in terms of detection capabilities, proactive hunting capabilities because of the way we treat our data, but that pricing incense customers to share that data for better security outcomes.
So that pricing remains a strategic advantage and that could not be possible without the cloud architecture that we’ve built. On the other side, you have to show the value, the security value to customers. So we have spent good deal of this development in terms of the platform itself, being able to show customers in our quarterly security posture reviews, the efficacy of both the detections and response that we’ve done for them, the times, etcetera. But in comparison to benchmark them against peers in their industry so that they can also translate the value of security to their C Suite, their Board, etcetera, in terms of their risk posture, with the vulnerability perspective as well as the actual protection from detection and response. And we build that into an account management relationship that we’ve increasingly invested in, especially with larger customers to be able to translate that into evolving constantly with their technology roadmap.
Their business priority is perhaps for acquisitions and integration to just make sure that they see that seamless continuation of security value over time because we know we win this business every single day.
