Alex Zukin: Got it. And what about on the bookings side?
A –Brian Miller : Yes, the booking side, we talked about this, it can be kind of lumpy. But generally, the — really a reflection of kind of the combination of all the new SaaS business, the new increases in the transaction business, which kind of run through bookings at the same time as they run through revenues. And just the combination of all that led to a stronger quarter this quarter. We didn’t have any of the mega deals, but we did have a really solid flow of new SaaS deals, some — a couple of not super large but meaningful license deals this quarter and then pretty good activity around the expansions with existing customers as well. So it’s pretty broad-based, but again not driven by super large contracts, but nice growth across all of our revenue streams.
Alex Zukin: Perfect. Thank you guys.
Operator: Thank you for your question. Our next question comes from the line of Saket Kalia with Barclays. Your line is live.
Saket Kalia: Okay. Great. Hey, Lynn. Hey, Brian, thanks for taking my question here. Brian maybe for you. I’d love to dig into the restatements just one level deeper. So can you just walk through what some of the — one of — I guess, what some of the items were from the NIC business that are now SaaS versus transaction? And maybe the follow-on is how would your SaaS revenue growth have looked I guess, excluding the restatement? I know that I think it’s about 26% year-over-year growth this quarter. What would that have been under the old convention, which is what our model is kind of currently are based on? Does that make sense?
Brian Miller: Yes. I don’t have that number in front of me. They’re not restatements. In the financial statements, they were always all in subscription revenues. It’s in the…
Saket Kalia: That’s fair, it’s a reclass. That’s fair. It’s a reclass not a restatement, Brian.
Brian Miller: Some of those were — when we originally acquired NIC and before we basically had almost all their revenues classified in our transaction category. And some of the revenues from a contract can have sort of a blend of some SaaS revenues and transaction revenues around those. So they’re providing some software services but getting paid with transaction fees. And so sometimes there’s some boring between that. Also, when we acquired the VendEngine acquisition, we initially made an additional judgment from their financials of how those revenues should be spread. And with a deeper understanding of those, we start to map those to our new financial system. We just found that some of those were more appropriately classified a different way. So those are all relatively minor reclassifications as well. So I don’t think there’s a big change in the trend, but…
Saket Kalia: But maybe just to maybe understand that a little bit better because 26% growth is quite a bit higher than what we were seeing before. I mean, was that mix — that the newly added SaaS revenue there, was that growing significantly faster than sort of what I’ll call the old SaaS revenue that was in there? Because it is quite a bit higher than what it was before. So I just — I wanted to make sure I just kind of flesh that out.
Brian Miller: No, no. There’s not a significant change from that. That’s not really accelerating it. The 26% growth is actually an acceleration this quarter. But again, we said that will maybe move around from quarter-to-quarter. But generally, we expect this around the 20% CAGR over the next couple of years in SaaS revenue. Some quarters, it may be higher. And as we talked about, some of that variability from quarter-to-quarter has to do with the lag from when we sign a new SaaS deal to when those revenues hit, which can be a quarter or two occasionally longer.
