Andrew Jeffrey: JP, I wonder if you could comment a little bit on sales cycle as you increase your focus, tighten the focus on bigger and more complex merchants and whether or not that’s affecting payments attach? Or if the payments attach that kind of stalled out this quarter a little bit as a percent of total volume is more of a macro impact? And I’ve got a follow-up.
Jean Paul Chauvet: Sales cycles, we’ve always had well understood the sales cycles with the larger segments. We’ve been doing this forever. I think that’s the real €“ when you look at the real value prop of Lightspeed, we really shine with the more sophisticated SMBs. And we know how to sell, we know how to onboard. So doesn’t change much in our sequence on that front. Second piece of the question, attach rates, we are seeing very good attach rates on new customers. And if you look €“ and I think what gets us excited is attach rates and new customers, even outside of the US, are very strong. So we’re not having any difficulties on that front. And maybe just to address the last piece of the question, which is penetration, that is purely a factor of industries and GMV per merchant.
Andrew Jeffrey: As a follow-up, recognizing that nobody’s macro crystal ball is particularly clear, it feels like perhaps we’re coming to the end of this normalization period that has seen retail, especially in certain verticals, to which Lightspeed oversamples perhaps, get to a point of normalization and maybe start to bottom out, how do you think €“ I understand you’re taking an appropriately conservative approach to guidance, but how do you feel about returning to a more normal sort of consumer spend environment where we could see more balanced growth across your two primary verticals?
Asha Bakshani: You’re absolutely right. We are taking a conservative approach to guidance, especially given what we saw in the third quarter where you’re seeing overall GMV pretty flat versus the quarter before. But we are in a position of strength in terms of focusing on profitable growth. And if and when the macro does turn around, to your point, we’re in a position to take advantage of those growth opportunities as they arise.
Operator: Your next question is from Josh Beck with KeyBanc.
Josh Beck: I appreciate the disclosures on the locations by size. I’m just kind of wondering, if we play this forward a couple of years, more or less how much of a change you expect or potentially we could see in the locations with greater than $500k of GMV?
Jean Paul Chauvet: Look, again, just talking about a big theme here, the company is focusing on this. Just maybe two years ago, we would probably be much broader in our fishing net with marketing, we would be much broader with sales. And this has changed. So, right now, we are hyper focused when it comes to every function in the company even in our roadmaps to creating more and more value to that segment. That segment is really important to us. And I think it’s very important to the SMB space because when you look even at the GMV, the total GMV, it’s hyper concentrated into the more established. And so, because we are doing suppliers, we’re doing payments, for us, it’s just going to continue to be the focus as we go forward.
