Joe Vruwink: That’s great. And then I wanted to ask the outlook for the commercial segment. It’s gone up more than I expected over the course of this year. And in the prepared remarks, I think you were referencing commercial content and like. So kind of a barbell in that, you have a very mature product growing nicely and that’s still very early product growing nicely. There’s understandably been a lot of focus on CRM of late. But how would you kind of frame performance from the non-CRM piece of commercial and kind of what you’re seeing in market so far to drive what seems like has been upside to your original forecast?
Brent Bowman: Yes, Joe, it’s Brent. I’ll take that one as well. So we have increased that commercial number through the course of the year. And you put it quite nicely in that it’s a combination of our more established products, continuing to contribute revenue growth by content. And then our newer products like Link really kicking in nicely. And we’re still very early days there. And then the data products, I think you saw in Peter’s prepared remarks, really coming along nicely. We’re very early days, but we’re optimistic in a very long journey there. So those are the things that we think about. And Crossix is another one that’s contributing nicely as well to our growth.
Operator: Your next question comes from the line of Dylan Becker from William Blair.
Dylan Becker : Maybe staying on the theme of data here as well. Brent, you just called out Compass, maybe for Paul on that side. There’s a lot of new customer momentum. I know we’re releasing some new offerings there early next year. But how do you think about that enthusiasm, maybe kind of validating the strategy and some of the encouraging momentum from customers around that strategy as we think about that upcoming opportunity? I know it’s beyond 2024. But as we think about kind of the going — or having that kind of full suite as we think about early next year?
Paul Shawah: Yes. So it is a great validation of what we’re doing. We have — we’re excited — we have a very clear product strategy with what we’re doing in data and more broadly overall with Data Cloud. We’re building a modern data platform. Compass is a key part of that. We started with patient data. We did announce the expansion of that portfolio at the beginning part of next year with prescriber and national. So with those 3 products in Compass, we are well positioned to be the standard data provider for even the very largest pharma companies. And the momentum that you saw in the quarter is a good indicator for us. It’s a good indicator that new customers are starting and trialing our data products but that existing customers are expanding, where we started with one brand and then we expand to an additional brand.
So it is, in fact, a great validation product strategy, our commitment to getting product excellence. So we’re on the right path with Compass. We feel good about that.
Dylan Becker : Got it. And then maybe for Peter, too, right? As you think about that evolution of Data Cloud to R&D, obviously, a lot of kind of pertinent use cases there. But how do you think about that data standardization playing in with the kind of work flow or process standardization at some of the momentum you’re seeing in that clinical suite today, maybe what the value can accrue from having kind of both the connected workflow and standardized data as we think about development life cycles as well.
Peter Gassner: Yes, I’m really excited about that. I think our clinical opportunity and data can be which were maybe larger than our commercial one. It really can be large. Now we’re much earlier. So that has all proven out. And there’s a very strong, very strong synergy between our software and clinical and the data products that we can build. So if you look at it big picture, I think Veeva has been working pretty hard at cleaning up the software side of life sciences over the last 15 years, and we’ve made a lot of progress, still more to go with adoption, but we’ve clearly got great footprint for it. Now with Data Cloud, I see us cleaning up the industry data and harmonizing the industry data, and then we’ll make our data and software work very well together.
So that’s really what we’re talking about for the industry cloud, it’s a digital transformation, which is software and data, all working together. So I’m very excited about it. I think the special sauce on the clinical side is clinical data all on its own is not as valuable as clinical data that can work with clinical software. And I think we’re into revolutionize that area. It will just take some time.
Operator: Your next question comes from the line of Ryan McDonald from Needham & Company.
Ryan MacDonald: Maybe first one for Brent. You talked about hiring fewer people in the quarter. And as we just look out into next year, what areas might you be adding still? And how you’re thinking about the hiring environment or hiring plan, given that we’re starting now to see more and more companies right-size their organization structure heading into next year again?
Brent Bowman: Yes. So overall, our hiring strategy hasn’t changed. We’re focused on hiring for growth and we’re going to focus on areas where we can drive customer success and innovation. So that’s always been our approach. And we’re going to do it in a disciplined way. You saw in Q3, we had a lower hiring quarter than you have seen in the recent past. And looking out to the balance of fiscal year ’24, it’s reasonable to expect that, that lower higher rate continues. Not going to get into fiscal year ’25 at this point in 90 days, we’ll provide our traditional metrics, which would include operating income and margin. And obviously, headcount will be factored into that.
Ryan MacDonald: Super helpful. I appreciate the color. Peter, maybe just a follow-up for you. You talked about in the prepared remarks about some of the lower clinical data products around CDB, RTSM, ePRO and at your Analyst Day, talking about how this really expands the TAM within that area. As you start to speak with customers or prospective customers about some of these newer products, what sort of appetite are you seeing for — from those customers around development or co-development on some of these newer areas and sort of willingness to make some of those earlier investments with you in innovation on the product roadmap amidst the evolving environment?
