Marcelo Santos: Perfect. Great to hear. Thank you very much.
Operator: Our next question will come from the line of Maddie Schrage with KeyBank Capital Markets. Please go ahead.
Maddie Schrage: Hey, guys, and thanks for taking my question today. I was wondering if you guys could talk a bit about if you’re seeing any price sensitivity when it comes to merchants or even the customer base. And if you comment on what you’re seeing top of funnel? And secondly, I’m wondering if you guys could comment on what you’re seeing in terms of seasonal spend that we’ve seen so far in 4Q between October and November? Thanks.
Mariano Gomide de Faria: Thanks. Hi, Mariano here. On the price, I can tell you that the high interest rate is bringing a tough environment for all the retailers all over the world. And of course, the retailers are now looking for a more efficient solutions. So we see this as an opportunity. VTEX positioning as a complete and composable platform, allowing customers to be very lean and fast when they need it, but also compose and be custom when they want it. So in terms of price, we see a mood bringing the discussion of the TCO of a commerce platform as something that was not in the table, and now it is. But we see this as a huge opportunity for us as well. On the second, I will invite Sodre to answer.
Ricardo Camatta Sodre: Yes. Happy to, Mariano. So, Maddie, regarding the holiday season, and how we are seeing it. So we continue to see uncertainty in the micro environment, which makes it challenging to have clear visibility into the holiday season. Last year, we observed a shift in the seasonality a bit, with sales spreading out all over November, instead of concentrating around the typical Black Friday event or week. And there is currently conflicting information regarding holiday season expectations. So we are approaching predictions for sales cautiously. Consumer appear to be eager to make holiday purchases, but they seem to be seeking significant discounts before committing to buying. And on the retailer side, it remains uncertain to which extent they can afford to sacrifice margins to offer substantial discounts and boost sales.
So as a result, we are closely monitoring both the end consumer and our customers’ activity to assist the latter in performing well during the holiday season. And most importantly, we’re taking steps to ensure our customers can entirely rely on our platform during this critical time of the year.
Maddie Schrage: Super helpful. Thanks, guys, and congrats on the quarter.
Operator: [Operator Instructions] And your next question will come from the line of Leonardo Olmos with UBS. Please go ahead.
Leonardo Olmos: Hello. Sorry about that. Can you hear me?
Ricardo Camatta Sodre: Yes, we can hear you.
Operator: Yes, we can hear you. Go ahead.
Geraldo Thomaz: Yes, we can hear you.
Ricardo Camatta Sodre: So, I was on the webcast, so I was a bit late. So can you discuss a little bit the product approach? So if you can talk a little bit about B2B in Brazil, how has that been evolving in all the product launches that you have in the Q3? How is that being accepted by the market in Brazil? Thank you.
Geraldo Thomaz: Well, thank you, Leonardo. So first of all, B2B seems, it’s appearing as a very appealing offer at VTEX. It’s not restrained, constrained to Brazil. You just saw the announcement that we announced a PicPay B2B as a go-live. But Brazil is accelerating the sales of B2B a lot. But not only Brazil, Latin America, U.S, we are selling B2B scenarios everywhere. And the beauty of a platform, if you saw — the Gartner reports, the critical capability reports, we are the number two platform in B2C and B2B in the same platform. This creates a big advantage for our customers because they can deal with one single control panel for both channels. And this also creates a big advantage for us as a product, because we don’t redo a lot of the core things that we need to have in both scenarios.
