It’s a huge amount of stuff, and I feel it’s really rolling out in ways, and there is a lot of POC activity going on there. These customers want to see whether we can verify some of the outcomes that we’re anticipating. And so far, those results have been super encouraging and our sales force is pretty good about the opportunity based on the results that we’re seeing. So we’re quite excited about it. This is really — the really the biggest expansion, if you will, of our scope as a company since we first came out in 2015 time frame when we went after Hadoop workloads and things of that sort.
Operator: We now turn to Derrick Wood from Cowen. Your line is open.
Derrick Wood: Frank, legacy migrations from on-premise have been a key growth driver for new customers for you guys. Is the macro causing any change in urgency for those kinds of migration projects? And given that you guys acquired SnowConvert, can you talk about how that may help simplify or accelerate migration projects?
Frank Slootman: Well, on SnowConverts, I mean we’ve been working with that technology for years and years. We’re super familiar with it. And we’re actually really happy that we now have full control over that technology because it’s not just about migrating customers, it’s also getting them to consumption faster, which is why it matters to our model. Not really seeing a slowdown on migrations. I mean, all of Mike’s comments so far is really about all the customers who are continuing to do contract extensions. They just have a more reticent posture. In the past, it was all about enabling growth as hard and as fast as they could because that was the dynamic of the time. Now, we’re sort of in the opposite dynamic where they’re looking to not get too far over their skis. And they’re enabling the growth they are foreseeing and they’re going a few steps at a time. But migrations are keep on coming fast and furious.
Derrick Wood: Great. Mike, given all the headcount cuts happening in the tech sector, is that having any material impact to your assumptions around consumption activity. And you did allude to kind of the start-up tech seeing pressure. Any — can you give us a sense for how much revenue exposure you have there?
Mike Scarpelli: Yes. Well, first of all, when I make the comment about companies are definitely looking to save on their spend. When you’re doing a RIF, you’re generally not just looking at reducing costs and head count, you’re also looking at other areas of your business you can reduce costs. So I definitely think in some customers, you can see one that publicly announced risks. We’ve seen some real slowdown in the revenue. Yet others — I can’t name their names, but there’s another one that announced a RIF in one of our top 10 customers. Their consumption has actually gone up in Snowflake. So there’s no direct correlation between RIFs and a customer’s consumption in Snowflake. But I will say, CFOs and companies are definitely looking for ways to cut costs and either through headcount or other things.
Operator: We now turn to Alex Zukin from Wolfe Research. Your line is open.
Allan Verkhovski: This is Allan Verkhovski on for Alex Zukin. Just one quick one for me. For your 40% product growth guide in fiscal ’24, how should we think about the seasonality through the year? And perhaps how has that changed relative to your view last quarter after now seeing slower ramp times with your more recent adopters of the platform?
