Yossi Carmil: I will add that in principle we see still longer sales cycle. This is one element, especially in the large deals. And yet, I would like to emphasize that we currently do not lose any deals due to these longer sales cycles. And there is, for example, one to the question, are they all being closed? Some of them, yes. And I have in mind at least one, which was relevant for Q2 and will be closed in Q4 for sure.
Dana Gerner: Awesome.
Operator: Please standby for our next question. Our next question comes from Mike Cikos with Needham. Your line is now open.
Mike Cikos: Hey guys, you have Mike Cikos here. Thanks for taking the questions. I wanted to make sure that I was clear on the guidance. I think that was the thing that I wanted to drill into first with you guys. So if I’m looking at the slides that you have posted on the webcast, I think it was Slide 16 showed your updated guidance expectations for 2022? And the reason I’m bringing that up is when I look at what’s changed, it looks like only the ARR guidance has been taken down versus what we had last quarter. And I just wanted to make sure that I was interpreting this properly. So when you’re talking in the press release, I know that there were some commentary that you expected come in at the lower end of your previous range.
Is that comment only for ARR or is that across the Board when we think about revenue or gross margins or adjusted EBITDA? Can you just clean up that that that question for me? Because I do want to make sure I’m thinking appropriately about what the rest of this year looks like for you.
Dana Gerner: So first, Mike, thank you for the question. The ARR — the guidance that we provide on Slide 16 is actually exactly the same as we have updated last quarter both on ARR revenue, gross margins, and EBITDA. So we did not change these guidance numbers. What we are saying during the call is that we will find ourself on the lower side of this guidance on the ARR; I would say revenue and adjusted EBITDA. And I hope this answers your question.
Mike Cikos: It does, it does.
Dana Gerner: Thank you.
Mike Cikos: Thank you for clarifying that. And I did want to come back, I think it was Patrick who had asked the first question, but one of the things that we’re trying to do on the outside is figure out what the FX impact has been as we think about Q4 and the reason for the adjusted guidance. I think we’re aware that your previous guidance probably incorporated some of the FX impact that you guys had been faced with. We’re trying to get maybe a snapshot of what that delta has been or what that change has been in the last three months. Is there any way for you to size up what that impact has been on a — from 2Q to 3Q where we stand today?
Dana Gerner: So if I look from — I would say from the early of Q3 to the end of Q3, from an ARR perspective, it was about between $2.5 million to $3 million impact on ARR. So we would’ve expected our ARR to be instead of $232 million, more towards the $234 million — $235 million I would say, if there were no ForEx, if we would look at the ForEx impact as of the beginning of Q3. And I would say around $750 to $1 million more on the revenue on Q3 compared to early Q3 ForEx numbers.
