Joe Vruwink: Great. And then just thinking of kind of the caliber of consortium members. Obviously, these are the type of organizations that are typically well into their budget planning for the next calendar year. And I’m just wondering if anything is coming up from kind of what you know around that whole planning process. that makes you feel better or worse entering 2024. Obviously, things can always change. But in terms of any green shoots or early impressions, maybe what your takeaways might be?
William Feehery: Yes. Thanks a lot for the question. This is Will. So as you know, we don’t break out Simcyp’s numbers, but I would say that the demand for Simcyp continues to be quite healthy. We have launched 2 new versions of since discovery and then more recently, a version called Simcyp Biopharmaceuticals, which are enabling our customers to expand the number of users who can potentially make good use of Simcyp. And so that’s, I think, giving us some positive feeling about where that can go as we go in the fourth quarter and then into next year. These things do take some time to launch and to get out there. The — but I think that underlying your question, the Simcyp consortium kind of consists of mostly — it’s not entirely the biggest company. They are the most active customers and what we’re seeing is a continuation of their activity in biosimulation and we expect further growth from them in this.
Joe Vruwink: Okay. Very good. Thank you.
Operator: [Operator Instructions] Our next question comes from the line Vikram Purohit from Morgan Stanley. You may now proceed.
Vikram Purohit: Sorry, did you hear my question? So at this point with one quarter left, what are the scenarios that you think could lead to the lower or upper bound of your year-end guidance?
John Gallagher: Hi, Vikram, yes, it’s John. The way to think about that is a number of things would need to be accelerated to be at the lowest end. So to be at the very low end of our guidance range, we would need to see a reversal of the momentum that we saw in the services business as well as deceleration in the software business. And to be clear, we don’t see that. So that’s — so obviously, there’s a couple of months left here. And that’s the reason to leave the room in place. But that’s what would need to happen to get you to the lower end and we’re not seeing that at the moment. To be at the high end, it’s really the opposite of that. We need to see acceleration in each of those fronts versus the momentum that we’ve already had coming out of Q3. So that’s what would push us to the higher end. But to be clear, we reiterated the guidance. It’s obviously the midpoint there is $352.5 million, and we wanted to reiterate that guidance on this call.
William Feehery: Right. And to John’s point, one other thing I can add is that as we’ve pushed into some of our newer products, particularly in AI, we’re finding a lot of customer interest, but to be to be honest about it, we don’t have past data about how long those deals take to close. And so there’s some uncertainty as we get into them about just how long does it take to close a deal for something that we — is pretty new technology that the customers haven’t bought before, and we haven’t sold before. So it’s — it’s a very exciting field. I think it’s good in the future, but we’ve left ourselves some room there and recognition that those are just sort of based on their newness, harder to predict.
Vikram Purohit: I see. Thank you.
Operator: I’m showing no further questions at this time. So, I’d like to now turn it back to William Feehery for closing remarks.
William Feehery: All right. So thank you, everybody, for joining us tonight. Just to kind of summarize how we see the quarter. We’re pleased that we saw a stabilization in bookings as we went into this quarter, coming out of where we were in the second quarter. Obviously, we’re experiencing some turmoil in the pharmaceutical market, and I’m quite proud of how the company is executing and adjusting through that. That said, we believe that, that’s relatively short term. We have a very firm belief in biosimulation and where that’s going in the long run and the opportunity to continue to expand it. And we’re really, really excited about what we’re doing as we add in things like artificial intelligence and where that’s taking us in the future. So we’re continuing to invest in those. We’re expecting those to lead to growth in the future, and we’re looking forward to speaking with all of you next quarter. Thank you very much, and good evening.
Operator: Thank you all for your participation in today’s conference. This does conclude the program, and you may now disconnect.
