Michael Cikos: I wanted to see if I could parse back the guidance construction that you guys have. I know a couple of other folks have added — asked about maybe total customer ads. And I know, Mike, you had commented that you guys are looking to focus on the quality customers. If I just look at like the Global 2000 as an example, I think previously, Snowflake has spoken about having, call it, one- to two-year sales cycles for some of these customers, again, because it’s a strategic relationship. Is there any way or can you provide any detail as far as how you’re thinking about additions from the Global 2000? Or how those net retention rates are expected to trend over the course of the year? And then one follow-up, if I could, I know an earlier colleague get asked about the Company’s exposure to let’s say that the more VC-backed companies, which are clamping down versus the four growth that you had seen previously.
Can you size up what that exposure is to that customer segment?
Mike Scarpelli: So you asked a number of questions. But the first thing is we land large enterprises, Global 2000 as fast as we can. They are large long sales cycles. They will be lumpy in terms of when we land them, but that is purely the booking. The ramping of those guys take time and it’s to get them to ramp to revenue. We have not seen any change in terms of really the average deal size of those Global 2000 when we land them. In terms of net revenue retention you asked about, I’m not going to guide to net revenue retention in the future. And in terms of your question on venture-backed companies, we have disclosed this before, and it remains there. It’s roughly 10% of our business. That tends to be the segment that our inside sales really focuses on, not all of that, and there are some large companies in there as well, too.
These are some of the unicorns that have been ready to go public for a while, but given the markets have chosen not to. But when I look at those large unicorns, they’re still very well capitalized.
Michael Cikos: That’s awesome. And I know that you’re saying that there’s no change in the average deal size from when you’re landing these customers, but you are saying that the newer cohorts are are expanding at a slower rate. Can you provide like magnitude of differences, if customers have typically taken, I don’t know, six months to ramp to the run rate, how is that trending today? Like what would that delta be if we’re thinking about magnitude based on this macro impact you’re seeing?
Mike Scarpelli: Yes, I’m not going to disclose that. I’m just saying it’s slower.
Operator: Our final question today comes from Brad Zelnick from Deutsche Bank.
Unidentified Analyst: This is Dan on for Brad. I just wanted to ask one quickly on some of the hardware and software improvements that were kind of a key focus going into the year. And now that we’ve kind of gone through the year and you mentioned the Graviton migration is completed, how did those kind of play out the impact of that on consumption relative to kind of what you’re expecting? And then anything to kind of call out looking into next year, over the next several quarters in terms of hardware, software improvements and any reason that would kind of differ from kind of the long-term impact that you expect those to have that you’ve talked about before?
