Anne Samuel: No, that was really helpful. And then maybe just — I was hoping you could walk through the cadence of just the pricing adjustments how those will flow through the model? Because I think you said in your prepared remarks, you don’t expect much in fiscal 2024. So how much should we expect this year? And how should we think about the cadence going forward?
Brent Bowman: Yes. So what we — so we announced effective April 1st going forward that we’ll have a price increase of the lower of 4% or CPI. So how to think about that for ’24, it’s not going to have a material impact on our revenue. If you think about Q4 is our largest renewal quarter. It’ll have more of an impact on billings in fiscal year ’24. And then it’ll be more impactful on revenue in fiscal year ’25. But realize it could take a few years for that to fully play through, because we have customers on multi-year arrangements. You have to come up for renewal. So it will take a few years to see the full amount play through.
Anne Samuel: Helpful. Thank you.
Brent Bowman: Yes. Thank you.
Operator: Will go to Stephanie Davis, SVB Securities.
Stephanie Davis: Hey guys. Thanks for taking my question. I was hoping you could tell us more about the large Crossix wins. Are you seeing a renewed interest in MV digital commercialization tools despite the tough ad environment? When we think about it, will folks be more reactive in adopting these solutions once the market starts to improve. So we could see kind of a fast follower sort of dynamic?
Peter Gassner: Yes, Stephanie, I believe your question broke up in the beginning. So could I ask you to repeat that?
Stephanie Davis: Yes, sure thing. It’s just the large Crossix wins and kind of if this is going to be something we see people prepping for the environment improving an ad? Were they going to add that ahead of it or if they adopt their solutions once the market kind of starts to improve as the reactive ?
Peter Gassner: Okay. Yes, the enterprise type deals in Crossix, I think that we’re working on some more of those. Now it’s undetermined when those are going to come in. I don’t think those are really correlated too much with the headwinds in advertising. That’s more long-term things that people are thinking about. Do they want to standardize and have a common operating model across all their brands and go forward with an enterprise approach or do they want to have the budgets brand by brand. So — it’s just a slow evolution to more of an enterprise buy that’s not affected by the ups and downs of advertising.
Stephanie Davis: All right. Understood. And as a follow-up one on the CRM business. You guys called out a number of SMB wins. Can you tell us how and who you’re winning against? I mean because we spent so much time, but the transition away from the sales force last quarter. Is that factoring into any of these conversations as you go through it?
Peter Gassner: Yes. We’re continuing to win. Our win rate really hasn’t changed in CRM. We continue to execute really well. And the competitive environment is pretty much the same. It’s all of the same players. So the way to think about it is these are generally one of two categories. It’s either pre-commercial companies, SMBs that are in either the U.S. market or the European market, or its domestic companies that you may see in Japan as an example. So those are the kinds of companies that we’re winning and we’re winning against traditional competitors. So it’s the — they may not have anything if they’re a pre-commercial company, they may be buying their first CRM system. If it’s a domestic and maybe a local competitor or some of the traditional competitors that we’ve seen.
Stephanie Davis: All right. Helpful as always. Thank you.
Operator: The next question is Gabriela Borges, Goldman Sachs.
