Pete Godbole: I think as I have said before, it’s a little early to call out next year just because Q4 is a big quarter. We have got to go execute it. I think we are all heads down trying to make sure we get the best outcome we can in Q4. That’s one part of it. And the other part is clearly the fact that a lot of the things we have put into play are like, call it, just recently in the pan, if you will. So, we have got to let those things play out, see what those do to be really able to put a perspective on what FY ‘25 looks like.
Ethan Bruck: Great. Congrats again and thank you guys.
Pete Godbole: Thanks Ethan.
Operator: We will take our next question from DJ Hynes with Canaccord.
DJ Hynes: Hey. Good evening guys. Mark, as I think back to the IPO, I remember we used to talk about $5,000 as the threshold at which you would typically see customer spend start to inflect up. And maybe that’s still true. But obviously, it’s a much different and scaled business today. As you look into the mid-market or low enterprise, however you want to qualify it, is there a spend threshold in that cohort or any other signal that you see where spend typically starts to inflect up again, or is it more linear progression higher up?
Mark Mader: Yes. Isn’t it interesting how our frame of reference changes from 5 years ago. I was talking to Pete yesterday about our average time to progress a customer from $0.5 million to $1 million. And again, so radically different from what we spoke about in the IPO. And I will stay away from pointing to one inflection point because there are so many phases to this game. We are seeing an acceleration of our moves from $0.5 million to $1 million. We are seeing, again, almost a double up of our $1 million customers. So, I think whenever a company gets tempted to focus on an inflection point, it’s also known as a missed opportunity when focusing at a higher inflection point. So, we are really trying to, as I just spoke to in terms of how we are viewing the partner ecosystem, recognize that there are multiple points at which you can exert energy or deliver value to a customer, which will compel them to move higher and faster.
And don’t view that as one, but view that as you have one at your very large enterprise, one at your emerging enterprise, one at your mid-major and one at your emerging customer and treat those all as important. So, it’s – I think we have learned over the last 5 years, and I think we are trying to arrange our capital and our resources to go after those.
DJ Hynes: Yes. Okay. It makes sense. And then maybe a quick follow-up to Terry’s question on the self-discovery. So, you kind of alluded to – in the answer to a question, that you would roll more capabilities into that motion. Just from a technical perspective, will it be easier to enable the next product for self-discovery now that you have already done a couple of them?
Mark Mader: Yes, absolutely. And I think when we think about self-discovery, it’s not simply the enablement of a feature, it’s how do you give the people who are responsible for managing that environment the confidence, the visibility, the ability to control those elements. So, we are creating these frameworks and these heads-up displays within an administration console so that the administrators and the budget holders can have very high confidence and very efficiently manage these situations. Once that framework is set, adding that next one, you don’t have to rebuild that infrastructure. We are making – we are building that in a modular way and building upon some of those early foundational investments.
DJ Hynes: Yes. Okay. I appreciate the color. Thank you, guys.
Mark Mader: Thanks.
Operator: We will take our next question from Brent Thill with Jefferies.
John Byun: Hi. Thank you. This is John Byun for Brent Thill. My first question was, as you have noticed, you had very good activity with the larger enterprises with your offering. I am wondering if there are any notable drivers to call out, anything to really help, I don’t know if any sort of unusual tailwinds from the ENGAGE conference?
Pete Godbole: So, I think your question is about the strength in the enterprise. I think it’s user-compelling nature of the solutions and the enablement we have done with the field in sort of building that out. These deals that happened in Q3 weren’t a result of just what happened in Q3 or just what happened at ENGAGE. It’s a series of plays to start with an opportunity, build the compelling value for the customer and then grow that opportunity over time and then find the right way to describe that value to close the transaction. So, that’s what we have seen. I don’t think it’s a special magic bullet, but just running through it.
John Byun: Good. That’s helpful. And then in terms of follow-up, for – in your guidance comments, you talked about enabling services to do more of the service work and having a $4 million impact on billings. Wondering, was that embedded already in the previous full year guide of 20% growth, or was that kind of maybe a little bit newer development?
Pete Godbole: It’s a newer development because we specifically called it out. And so it’s – think of that as incremental to prior guidance.
John Byun: Great. Thank you.
Pete Godbole: You’re welcome.
Operator: We will take our next question from Rishi Jaluria with RBC Capital Markets.
Chris Fountain: Hi. This is Chris Fountain on for Rishi Jaluria. Thanks for taking our question. So, you mentioned a really large expansion deal in the prepared remarks and that there is still further opportunity to do more with that organization. So, I was just wondering, what features are they still evaluating, or what really drives that next leg of expansion with a customer of that size?
