Operator: Thank you. The next question will be from the line of Brent Thill with Jefferies. Your line is now open.
Brent Thill: Mike, you mentioned at the Analyst Day you are idling back quota-carrying sales capacity on the new hire front. Have you seen any difference to lean back into hiring quota reps in ’23?
Mike Scarpelli: It really depends upon the territory and the opportunity. There are some territories where kind of regions we’re shrinking where it’s overcapacity, and we’re re-shifting those heads to other more productive territories as we — I’m not planning on adding net a lot of new ones for the balance of this year. But as we’re starting to plan for next year, there are — there is additional headcount going into the quota carrying rep area.
Brent Thill: Great. And for Frank, on the vertical side, any verticals that are showing more excitement that perhaps weren’t online that weren’t firing up? Are you seeing anything change here?
Frank Slootman: Actually, that’s a great question, because we had massive outperformance by our healthcare vertical this quarter, and healthcare usually runs fourth or fifth in the lineup of verticals and a massive way to [Technical Difficulty] really excited about, it feels like that healthcare is really getting a move on, if you will. They have not traditionally been an aggressive adopter of technology. But in the world of data, they are moving. They’re moving hard and you see it on the provider side, you see it on the payer side, you see it on the pharma side. So I think that’s going to become a great contributing segment for us.
Mike Scarpelli: Yes. Healthcare and life sciences grew 61% year-over-year in revenue for us.
Brent Thill: Thanks for the color.
Mike Scarpelli: Very good, too.
Operator: The next question will be from the line of Michael Turrin with Wells Fargo. Your line is now open.
Michael Turrin: Hey, great. Thanks. Appreciate taking the question. I think one of the comments mentioned new bookings outperformed expectations. I appreciate you’re still seeing room for improvement, but anything you can add around what drove the improvement versus last quarter? It sounded like healthcare from the prior commentary, but wondering if some of that or certain product releases maybe also contributed there.
Mike Scarpelli: Yes. Hard to say whether — I don’t think it was a product release. I would say we saw some nice renewals from customers with growth. We also saw two very large Cap Ones, one large one in Europe, which was — Cap One is an initial deal, it was a $22 million TCV deal in an insurance industry, and we saw a large gaming company in Korea commit to $9.5 million as a Cap One. So clearly, our message is getting across to these customers, and they see what we’re doing and a lot of these want to do more in the area of AI. But first, they need to get their data into Snowflake and it’s going to be a journey for these people. It’s not going to happen overnight AI for our customers.
Michael Turrin: I like and appreciate those large deal stats. Maybe just quickly on the back half. If you can just help level set what’s embedded in the rest of the year outlook? You’ve seen multiple comments around stabilization. Is that fairly consistent with what informs the outlook and maybe just any refresh on second half seasonality as expected? Thank you.
Mike Scarpelli: Well, Q4 is usually one of our largest bookings quarter and it’s shaping up, but that’s not necessarily consumption. And — but the sentiment within our sales team has definitely shifted from where it was in the first half of the year.
Michael Turrin: Thank you.
Operator: Thank you. The next question will be from the line of Patrick Colville with Scotiabank. Your line is now open.
