Jay Chaudhry: Yes. I would start on the pricing pressure discount, you talked about, and Remo can get the billing part of it. So due to a tighter macro environment, there is increasing scrutiny and pressure on CISOs this year. Our customers are negotiating order over payment and deal terms. But customers do view us as one of the most mission-critical service. And they want to make sure they buy the service that works, the service they can depend upon. But they’re not looking for the cheapest solution. So from their point of view, I would say we aren’t seeing tremendous pressure on discounting. We’re seeing some focus on it. And to help that, that’s where some of the ramp deals come in to help lower the first year cost for the customer to manage their spend. But being strategic, being dealing at the right level and actually delivering a lot of ROI value, reduces pressure on us from a pricing point of view. Remo?
Remo Canessa: Yes. So, if you look at the average that we’ve had in the second half sequentially from Q3 to Q4, it’s been in the 48%, 49% range. But we’ve — our guidance is 46% at the midpoint.
Operator: Our next question comes from the line of Jonathan Ruykhaver with Cantor.
Jonathan Ruykhaver: So Jay, I’m wondering if you can talk in more detail on the adoption trends you’re seeing around cloud workload protection. And what those initial lands look like from a deal size perspective relative to ZIA and ZPA? And also, just touch on the go-to-market, are all reps equipped to sell that solution today? Is there an initial overlay strategy? Thanks.
Jay Chaudhry: Thank you. Our overall adoption of cloud workflows product is pretty good as planned. And as customers are launching more and more workflows, they have two options. Either they extend their corporate network just like a branch network to every cloud region and put virtual firewalls there or they do Zero Trust architecture with Zscaler. So, these products are primarily sold to our customers. Our customers understand the value of it, and that’s why they’re embracing it. Now the initial deals are smaller, customers are growing, and there are some large deals. But majority of the deals start small and customers start buying into it. They largely end up doing the same thing, just like ZIA for users, ZPA for users, and this is ZIA for workloads, ZPA for workloads.
That’s where we believe opportunity for us is significant. In terms of go-to-market, all reps are equipped to sell it, but we also understand that there are a bunch of nuanced discussions in this area. So, we do have product specialists. This is not overlay sales team. These product specialist are experts in this area, and they do help in the sales process. And Remo, overall, we are expecting the emerging products, too.
Remo Canessa: Yes. Commercial products still tracking to high-teens, both new and upsell.
Operator: Our next question comes from the line of Gabriela Borges with Goldman Sachs.
Gabriela Borges: I wanted to ask you on the market opportunity for best of breed. With Zscaler now having over 30%of the Global 2000, how do you think about the risk that the enterprises that can move to that best of breed are essentially already Zscaler customers? In other words, where do you think the ceiling is to that G2000 penetration rate? And are you getting feedback from, let’s say, the next sort of bake-offs, that’s perhaps we don’t care as much about best of breed technology. How do you think about that?
Jay Chaudhry: Next bake-offs? I’m sorry. Can you expand on last part again?
Gabriela Borges: Yes. Essentially, do you — you’re competing for today, are you getting any signs of feedback from customers saying, we know you’re best of breed, but we’re not going to prioritize you?
