Gregg Moskowitz: Okay. Mike, you mentioned that weaker net new bookings and the slower-than-expected ramp from your youngest cohort impacted the fiscal ’24 guide. But thinking back to the Q3 call, you had also spoken about some significant customers that you were expecting to materially ramp in fiscal ’24. And you also said today that the enterprise has generally held up pretty well. So, I’m wondering, three months later, maybe looking at it from a bottoms-up perspective, can you share with us how you’re thinking about these particular customers and the ones that there was this potential line of sight in terms of them ramping in fiscal ’24. Just wondering if that’s changed at all in terms of that viewpoint.
Mike Scarpelli: Well, those customers are definitely still ramping. But what I will say, what is different in literally Week 10 of our quarter, we converted 90% of our weighted pipeline into bookings where historically, that’s been 140% in Q4, and that’s typically because deals are understated and deals get pulled in. That did not happen this quarter. We also had a number of customers, big customers who rather than they consumed everything and rather than do a big multiyear deal, literally, just bought enough capacity to get them through to the next quarter or two. I do have two of my biggest customers. I know they run out of capacity within the next six months that they will have to do something. But once again, they could do big deals or they could just do buy a sufficient capacity on a quarterly basis because their contracts still haven’t expired.
They just don’t have any capacity left on them. So that’s why I don’t focus too much on bookings and focus more on revenue and why I think that’s the leading indicator. But as I said, we definitely do see a number of our newer customers in the cohort still ramping, but ramping at a slower pace than what historically they have. And I think that is a function of the cost controls that are going on within companies to make sure they are conserving as much money as they can from an expense standpoint.
Gregg Moskowitz: Very helpful. And then just for Mike and for Frank, on Snowpark for Python. So we’ve heard of a lot of customers that are kicking the tires, a lot of small tests that are taking place, but you did call out a couple of customers that are really ramping, and it sounds like there’s a lot of robust POC activity. Just be helpful to get a little bit more insight in terms of how you’re thinking about how this plays out over the course of fiscal ’24 in terms of adoption.
Frank Slootman: Well, we definitely have sort of unleashed a full court press because our basic posture is that, for example, any Spark job that runs in the Snowflake orbit, either putting data into Snowflake or taking data out of Snowflake, Snowpark for consumption, analytics, machine learning purposes is really ours. That’s sort of the attitude that we take towards it, and we will we will challenge existing Spark chats, and we will compete hard for any new ones. So we are really taking ownership for the action activity that is happening in our hemisphere, so to speak. So it is all over the map. We can see very clearly from our own data, which customers are doing what because they’re touching Snowflake. So we really mobilized ourselves as an organization to target that and you clearly seem to have picked up on a lot of the activity.
