Scott Berg: Got it, that’s very helpful. And then from a brief follow-up perspective, lot of discussion on the macro, obviously, not a surprise given what’s going on, but how do all of you view your opportunity or recent working with partners, partners continue to becoming increasingly more important component of, I think some of your sales process is not necessarily sell directly, but they seem to influence that. Are you seeing anything different out of partners recently than maybe what you have in the past?
Mark Mader: I’ll start. Scott, Like talking to a message I send to — a video message I did for the kick-off to one of our global SIs who has one of the global practices. Building a set of workflows and solutions on the Smartsheet platform. In this — for this large global SI, every single M&A transaction and divestiture within this industry practice is backboned by Smartsheet. Every single project they do is navigated with Smartsheet. Every time they leave the customer site post the transaction being completed, Smartsheet is left behind with the customer for it to continuing those operations. So that is, a few years ago, those types of discussions, those types of experience is never existed. It was much more of a midsized SI.
We still have hundreds and hundreds of SIs in the middle range who are contributing influencing. We do it as much co-selling with them as we do them closing deals independent of us. But I would say they are really notable ones, the ones that sort of give me the most confidence in terms of high-impact, are those larger players who have developed practices around us and that is not just one global SI, we have three of those in play right now.
Scott Berg: Okay, great. Congrats again on nice results this quarter.
Mark Mader: Thanks, Scott.
Operator: Your next question is from the line of Robert Simmons with D.A. Davidson. Your line is open.
Robert Simmons: Hi, thanks for taking my questions. I was wondering, given the way valuations have generally come down and maybe federalized little bit privately, what are your kind of thought process on doing further M&A and kind of how much cash do you need to keep on your balance sheet, kind of what’s currently your capacity or bandwidth?
Pete Godbole: So, we have a healthy cash balance and our approach to M&A has been that, we want to look for adjacencies when they come up, but they have to be accretive relative to our margin model. So we’re not looking for visionary M&A that doesn’t have a clear payback or a clear ROI. So that’s been our strategy. We continue to pursue that aggressively.
Robert Simmons: Got it. And then, talking about an existing one. Can you tell us about how Outfit has been performing? Will it more quantitatively, perhaps. when you did before in terms of like approach like the actual performance?
Pete Godbole: So, Outfit is performed to our expectation is that a — really, kind of effective job. The way we went about Outfit was it really tags along with Brandfolder as a part of templating that you need when you’re doing Brandfolder deals. We’re seeing a good sort of it — what I call, synergistic effect and the product integration, we’re thinking about between Brandfolder and Outfit makes this even more compelling when that comes through.
Robert Simmons: Great, thank you very much.
Pete Godbole: You’re welcome.
Operator: Your next question is from the line of Jacob Roberge with William Blair. Your line is open.
Jacob Roberge: Hi, congrats on great results especially on that profitability guidance. Those are good to see. Understand there was a slight degradation in close rates and sales cycles, but you’re still seeing some pretty strong new customer activity with new bookings and the user growth number. Another customers start small but were there any particular segments or industry verticals that stood out on that front?
