Alex Zukin: And I guess maybe just as a follow-up. If I look at the buyback cadence given on the one side, Kelly, if you are talking about having to issue shares as long as the stock goes down, on the other side, you have $5 billion in cash on the balance sheet to buy back stock. So how do we — because I get a lot of questions about dilution, particularly given the supplemental share buyback. So at least on that front, what’s the right way to think about over the next year, over the next two years, three years, how — ex-M&A, how you are going to leverage that cash balance?
Kelly Steckelberg: Yeah. So we think based on the share repurchase program that we have had — we currently have in place, we have done a good job of being able to offset the dilution from the supplemental shares. We want to be very thoughtful about our cash those. We just talked about M&A for example. And so especially as We are focusing on our FY 2024 plan, our balancing the opportunity for managing dilution, as well as earnings on that cash and M&A opportunities. So all of those are being considered as we look forward for FY 2024 and that’s really what we have to say today. We will have more to talk about when we come back for the Q4 call.
Alex Zukin: Perfect. Thank you guys.
Kelly Steckelberg: Yeah.
Operator: We will now hear from Ryan Koontz with Needham & Company.
Ryan Koontz: Thanks for the question. Can unpack the strength in Enterprise and how to think about that revenue growth across different product categories, if not quantitative, can you kind of give us an idea where phone stacks up versus expanded meeting license and any other products look like they can become meaningful in the next 12 months as you look at that on the Enterprise side? Thanks.
Kelly Steckelberg: Yeah. So really happy with the progress we have seen with Zoom One, with Zoom Phones and the strength in Zoom Rooms in Q3. We also certainly see potential in Contact Center and Ryan Koontz, they are just so early. That from a — We are seeing progress there and excitement, but it’s early stages. So in terms of what they are contributing overall to the dollar amount, it’s minimal at this point, but we are seeing growth in terms of quarter-over-quarter expansion in those products. So that’s really exciting to see.
Ryan Koontz: Got it. Thanks. Thanks, Kelly.
Operator: And our next question will come from Catherine Trebnick with MKM.
Catherine Trebnick: Thank you for taking me — my question. Appreciate it. One of mine is on your partner program. You brought in a new partner executive last July. Could you specify any particular areas that he’s going to concentrate on to drive more revenue? He just interviewed one of the CRM magazines and said he wants to get to 50% revenue through the channel and can you just address some of the ideas that he has to implement.
Kelly Steckelberg: So, yeah, Todd, Catherine is referring to Todd, who joined us, I think, a couple of quarters ago, he’s great. At Zoomtopia, he hosted our first partner connect with over 400 partners were there. So that was super exciting to see. And while there are lots of opportunities, I think, one of the biggest areas of opportunity is international partner expansion. We have done a good job over the last few years of building up master agents and carriers here in the U.S., but it’s still relatively nascent outside the U.S. So that will be a big area of focus for sure.
Catherine Trebnick: All right. Thank you.
Kelly Steckelberg: Yeah.
Operator: And James Fish with Piper Sandler. Please go ahead with your question.
