Rob Enslin: Thank you. Look, we feel really positive about where we are with the SAP partnership. I feel like the new logos, the Swiss large retailer is one. What we’re doing with Mark and Spencer is another one. In both cases, test suite is predominant or is a dominant factor together with the rest of the platform. So we feel really, really positive about that platform. But I would also not underestimate the announcement with Google Cloud and the marketplace. I mean, many, many companies announced on to see that when they combine the automation play together with SAP and the S/4HANA RISE momentum, which has, as you said, an end date, they also want to benefit from the investments in the marketplace. And we feel like that those investments with marketplace will also benefit us in the future.
Mark Murphy: Okay, thank you, Rob. And as a quick follow-up for Ashim, I’m looking at the net new ARR. It grew year-over-year in Q3. It almost got there in Q4, but it still looks good. You’re guiding that this fiscal year, I think you’re guiding the net new similar to what it was in FY 2024. I’m wondering what ingredients you think might have to align to see that grow, sort of get back to pretty meaningful growth. For instance, if we do end up with a soft-landing scenario this year, then do you think that that might be in the cards with some good execution?
Ashim Gupta: Mark, the way I look as we continue to make great progress as a company. I look at last year in this first half, if you look at the net new ARR, it was down. The second half was basically close to neutral. As you mentioned, when you look at our guidance right now, at the midpoint, we are growing net new ARR overall and in the first quarter. I think we continue to execute. Our strategy is really clear. The value proposition and our product roadmap is also very clear. And I think if we continue to execute, we have a lot of optimism. That being said, our guide is our guide. And we are very clear in terms of the assumptions that are there. And our focus is just on executing this quarter and continuing to execute on our strategy.
Mark Murphy: Thank you.
Operator: Thank you. Our next question comes from the line of Matt Hedberg with RBC. Please proceed with your question.
Matt Hedberg: Great guys, thanks for taking my questions. What really stood out to me too, Ashim, I think you noted your cloud ARR was 650 million. I believe you said it for 70% if I wrote that down right. I’m sort of curious, how should we think about that mix in fiscal 2025, because it feels like that could be a significant portion of a reacceleration as well.
Ashim Gupta: Yes, like our flex offering is really popular with customers and we continue to see customer momentum moving to the cloud. So, we feel very good about that momentum. I would say the mix and the growth rates would consider, will continue on the trends that we’ve seen historically and the overall trend of the company as we’ve disclosed the numbers every quarter. So I think we feel very good about it.
Matt Hedberg: That’s great to hear. And the other thing, obviously the progress on the margins is great and the 100 bps is really good to hear this year. I think just seeing GAAP profitable in 4Q was also really nice. Thoughts on GAAP profitability in fiscal 2025. I mean, do you think it could kick it there? I don’t know if it’s every quarter, but just sort of thoughts on GAAP profitability on a go-forward basis.
Ashim Gupta: Well, look, we obviously don’t guide together on GAAP profitability, so I won’t comment there. What I would say is, two things. We have really good cost discipline and capital allocation. And for us, whether that is cash that is going out the door, or whether that is equity, we look at them as equal components of capital now, and that’s what we’re focused on. Really pleased with the progress in terms of just overall GAAP profitability, even for the year, cutting the overall GAAP operating loss significantly. And like you said, achieving GAAP profitability in the fourth quarter. We’ll have seasonal patterns, right, that will be a part of that, in different quarters. And I just like the overall trend line. We can give more information as we need, we’ll update more information at the appropriate times in terms of long-term margins.
Matt Hedberg: Got it, thanks, Ashim.
Operator: Thank you. Our next question comes from the line of Keith Weiss with Morgan Stanley. Please proceed with your question.
Sanjit Singh: This is Sanjit Singh for Keith Weiss, and thank you for taking the question. Rob, I had a question actually on the partners. You mentioned, I think, Deloitte and Ernst & Young as highlighting some deals for you guys this quarter. Broadly, where do we stand in terms of partner contribution? I know it’s been a big focus for the company. But in terms of partner source revenue or partner influenced revenue, how does that look this year in terms of mix? And where do you plan on taking that to going into fiscal year 2025?
Rob Enslin: Yes. I mean we don’t disclose, obviously, those numbers, but we feel really strong about where we are with Accenture and E&Y, PWC and Deloitte. Many of those programs that we’re talking about, like, there’s a super exciting program, taking Deloitte and focusing on fast-growing companies using their smart finance solution, combining it with automation and then repackaging it into a vertical solution. We feel those are really going to drive activity. We also feel that — our partners are extremely important, and we’re driving more and more partner connections, over 70% of our deals are touched by partners. And we’ll continue to see us focused on driving partners in the future as well, both the channel and the GSIs.
