Operator: Thank you, Mr. Koontz. The next question is a question from the line of Jeff Van Rhee with Craig-Hallum. You may proceed.
Jeff Van Rhee: Great. Thanks for taking my questions. I’ve got several. I want to circle back a second to Sinergise, just a few more questions there. Customer count, number of users, price paid, cash deal, can you fill in a few more gaps there? And then if you would just spend a second longer on the cross-sell, maybe a little clear example of an existing customer and how you’re going to come into them why they would want these products and what they’re using now.
Will Marshall: Maybe I can just kick it off by saying that there are thousands of users on this platform already, and it really helps us to get to that longer tail of smaller users, easing the ability and speed to get your first application. Ashley, maybe you can talk to the financial pieces, and Kevin here, maybe you can talk a little bit to the other pieces, too.
Ashley Fieglein Johnson: Yes. Just — so financially, it’s a roughly approximately $45 million deal with a mix of cash and stock. We expect it, as I mentioned, to be neutral to EPS in fiscal ’24 and accretive next year.
Kevin Weil: Yes, as far as customers attaching to Sinergise, we see a meaningful opportunity for Sinergise to speed time to value for our customers in general as well as make Planet products stickier. I gave the example of the agriculture customer in my prepared remarks that is currently having to devote meaningful engineering resources to building their own pipeline to leverage the work they’re doing with Planet data. And in the combined Planet plus Sinergise world, they would be able to do all of that and stream it directly into their platform, just using Sinergise’s AVI’s. So our plan is to offer Sinergise solutions to both new and renewing customers. We will be looking to drive a high attach rate of their high-margin compute solutions alongside Planet’s data, and there are already a number of joint customers. So I’m looking forward to seeing that expand as we join forces.
Jeff Van Rhee: Okay. And two other questions, if I could. The — it sounds like you guys reflecting on what you’re going to do here with Pelican, you talked about a tasking constrained world. Ex what’s going on in Ukraine, I guess I would ask how broad is the constraint? Clearly, everybody that can get imagery over Ukraine is probably very busy right now, but talk about like the breadth of the constraints on tasking right now.
Will Marshall: Well, broadly, that system, we are building it more and more to be a one-to-many system. So yes, it’s a tire satellite system, but we’ve now got a tasking aggregated such that when there’s many users in one area, actually, they take one strip of images that covers many of those tasks in one go. And then actually concentration becomes back to our advantage again. So it’s a . Obviously, Pelican is aiming to relieve and add more capacity to that. But presently, we still have the potential in many regions, and we are seeing a lot of demand for that. As I mentioned in my prepared remarks, we did three deals last year, over $10 million in ACV each, which were driven by SkySat. And that just gives you a sense of the pull that we’re feeling. And many of our customers, of course, are using both SkySat and the plant scope data. I don’t know if anyone’s got anything to add to that. Does that answer your question?
Jeff Van Rhee: It does. I guess just last one, pipeline. Just you touched on the number of seven figure deals. If you could, maybe just contrast kind of what the pipe looks like now maybe 6 or 12 months ago in terms of just the vertical sort of target markets that are seeing the most uptake or improvement and those that might be fading?
Will Marshall: I would say the quick answer is stronger and more robust, bigger. I mean you mentioned the seven figure deals, that’s right. We’ve got 45 of those, and they’re all qualified deals. I’m really excited about that and across commercial, civil government and Defense and Intelligence. Kevin, you’ve been around the world, anything to add to that.
Kevin Weil: Yes. Just to add briefly, I’ve spent a bunch of time on the road this year. I’ve been in Asia. I’ve been in Europe twice. I’ve been in D.C. a number of times, around the U.S. We’re seeing broad-based demand in our core verticals in areas like agriculture, civil gov, defense and intelligence because of the unique data we have. But as we go off the data pyramid, as we provide planetary variables, we are opening up new verticals. And with insurance, as an example, we have both AXA and Swiss Re now using our content planetary variable to create a drought insurance product for farmers. Will talked about PG&E now using the Vegetation Encroachment, planetary variable. So that’s new demand. And those kind of products aren’t just for new customers.
They’re also — they also open up new opportunities with existing customers. Just imagine Defense and Intelligence, for example, monitoring large areas that you can’t do without artificial intelligence. And so now with the advent and the acceleration of AI, we are seeing expansion opportunities with existing customers and existing verticals .
Will Marshall: If I could just add to that. caution in the commercial business, we’re still seeing a lot of those deals come in at pace. And the couple of areas that Kevin was just mentioning a really strong one. AXA, the CEO was here just this week, and we were talking about this drought insurance and expanding our partnership there. And we mentioned PG&E. We did mention that we signed another Fortune 500 utility company up this year. this quarter, sorry. So we are expanding to that sector. So yes, as Kevin saying, as we go up the stack, we start to open up these vertical markets outside our core one.
Jeff Van Rhee: Very helpful. Thank you.
Ashley Fieglein Johnson: Thanks, Jeff.
Operator: Thank you, Mr. Van Rhee. The next question is from the line of Noah Poponak with Goldman Sachs. You may proceed.
Noah Poponak: Hello, everyone.
Will Marshall: Hey.
Ashley Fieglein Johnson: Hey, Noah.
