Gleb Budman: Yes, so what can I say about that? I think that the pipeline is the biggest that we’ve had at the company, and it is bigger. The pipeline has accelerated more than the growth of the company. So it has actually grown relative to the company, not just in sheer dollars. And I think from the conversations that we’ve had with the sales team, they still feel good about the deals in there. Obviously, like what we call the deals, that they have the different stages that they are marked through, but in terms of the quality based on the stages that they’re at. But in terms of the quality based on the stages that they’re at the pipeline has grown for each of the stages.
Ittai Kidron: Excellent. Great. Good stuff. Thank you guys. Appreciate it. Good luck.
Gleb Budman: Thanks.
Operator: Your next question comes from Chad Bennett with Craig-Hallum. Please go ahead.
Chad Bennett: Great. Thanks for taking my questions. So just on kind of price increase impact at least how you’re looking at mix in the fourth quarter here between the B2 side and computer backup. Obviously you see more immediate impact on the B2 side of the price increase with pay as you go. So should we expect the mix, revenue mix of B2 to increase in the fourth quarter? Is that a fair way to think about it?
Gleb Budman: Not necessarily. We’re looking at still the overall churn, right. So because we’ve never had a B2 price increase although to date for one month it looks fine. So, and the second thing is that the computer backup price increases higher than the B2, right. So when we’re looking at it what we’re seeing right now is about the same, but overall remember that B2 with a growth rate — we’re using the growth rates from this quarter it was growing at 31% and computer backup was growing at 4%. So and B2 is already 46% of the total business So long-term B2 is overtaking as the dominant product quickly.
Chad Bennett: I guess maybe to ask, so I think the way you talked about it pre price increase last quarter, is B2 ARR growth would be in the low 30s this quarter, but accelerate up to 40% in the December quarter. Is that still the kind of ballpark we should think about?
Gleb Budman: Yes 40s we felt.
Chad Bennett: 40s. Okay. I just wanted to make sure we’re still on track with that and then and then in terms of as much as is I can kind of directionally think about. At the midpoint of your fourth quarter revenue guidance range, you reaccelerate, from 15% this quarter to call it, Maybe 23%, 24% year-over-year in the fourth quarter here. When we think about next year, I assume you’re talking about next year accelerating beyond that fourth quarter growth rate. Is that how you think about it?
Gleb Budman: The so — you’re right about the midpoint so we see that midpoint growth rate at around 24% in our quarter for and we are seeing growth rate similar to that going forward as we enter 2024.
Chad Bennett: Okay, so it is just in terms of the price increase on B2, it doesn’t sound like again small data set and timeline, but it doesn’t sound like you’re seeing increased churn. It — I don’t know if you’ve seen anything in terms of data use usage or data growth changes, whether it’s because of B2 to the price increase or not, but I’m just conceptually thinking about effectively a 20% price increase and if you believe that business ex a price increase could grow 35%, 40% next year, is there is there anything changing in terms of your assumptions of growth kind of non price increase on that part of the business? If you understand what I’m asking.
Gleb Budman: I think so the — so we always look at growth in new revenue coming from new customers amplification which is growth in current customers and then we have our price increase. So those are the three factors and this pushes a churn in there. And so because our churn so far appears fine our churn assumptions the other areas of growth are as expected.
Chad Bennett: So data growth or new logo growth you aren’t seeing any deceleration is what you’re saying?
Gleb Budman: Correct.
Chad Bennett: Okay, and then last one for me if I could, so I think this might be related to the very large B2 reserve deal you talked about on the call, but your long-term deferred REVs, I think, effectively almost doubled sequentially. Is that related to that deal? It was about almost a $4 million sequential increase, or were there more B2 reserve deals, kind of multiyear deals, on top of that? Thanks.
Gleb Budman: It’s the — that single deal is the largest reason for the increase, and then the — there are other…
Chad Bennett: What was that? Hello? Hello? Did you hear me?
Gleb Budman: Yes, you cut out at the other…
Chad Bennett: There were other deals, I assume you said?
Gleb Budman: Yes. Yes. Yes. Okay. But that was the largest.
Chad Bennett: Okay. Great. That’s great to hear. Okay. Thanks. Nice job, again, on the quarter, guys.
Gleb Budman: Thank you.
Operator: Our next question comes from Erik Suppinger with JMP Securities. Please go ahead.
