I want to remind everyone that our commentary may include forward-looking statements. These statements are subject to risks and uncertainties that could cause Dayforce's results to differ materially from historical experience or present expectations. A description of some of these risks and uncertainties can be found in the reports we file with the Securities and Exchange Commission, such as the cautionary statements in our filings. Additionally, over the course of this call, we will reference non-GAAP measures to describe our performance. Please review our earnings press release and filings with the SEC for our rationale behind the use of non-GAAP measures and for a full reconciliation of these GAAP to non-GAAP metrics. Both our earnings press release and SEC filings are available on the Dayforce Investor Relations website. As a final note, a replay of this call will also be available on our investor relations website. With that, I'd like to turn the call over to David. Hello, everyone, and thank you for joining our Q3 earnings call. Today, I'll speak about our very strong performance in the quarter and continued company momentum, as well as some exciting product highlights as we prepare for our global customer conference Dayforce Discover taking place next week. Leagh will elaborate on both our market momentum and our continued ability to scale. Noémie will provide commentary on the Q3 results and full year guidance before we open the call for questions. Let me start with our financial performance. We had a very strong third quarter. We exceeded the high end of our guidance across all metrics despite the headwinds of a stronger U.S. dollar. Our PEPM revenue growth remains strong and float income continues to benefit from a return to a more normalized interest rate environment. On a constant currency basis, Dayforce recurring revenue grew 32% and 27% excluding float. Our business continues to scale very well. I'm pleased to report that adjusted EBITDA was $63.5 million, a 61% improvement year-on-year. Adjusted EBITDA margin was 20.1% of revenue, an expansion versus a year ago when the business was operating at 15.3%. Adjusted cloud recurring gross margins of 74.8% expanded 50 basis points year-over-year. We continue to invest in sales and product innovation to fuel durable revenue growth while also demonstrating our ability to scale operations. Third quarter operating cash flows were $52.1 million in the third quarter, doubling from last year and driven by operating margin expansion and flow benefits. Our brand promise has always been to make work life better. The reality of the post-pandemic world is the way people work has permanently changed, and as a result, the demand for Dayforce remains robust. Furthermore, in a difficult market, every organization worldwide is focused on efficient growth, and the most significant asset companies have is its people. Dayforce has always promised the delivery of quantifiable value, meaning real money saving and ROI back to our customers. We are the engine that helps companies determine the most efficient, high-value way of engaging employees across the enterprise while also providing real-time insights and reporting. This delivers quantifiable value for the organization. Given the new reality of work and the fact that every organization is striving to operate efficiently in today's market conditions, it's clear why demand for Dayforce is growing. Year to date sales are up significantly and our pipeline remains strong. All of which I will ask Leagh to discuss in more detail in a moment. Turning to technology and product innovation, we are very pleased to report that for the third year in a row, we have been named a leader by Gartner in its Magic Quadrant for Cloud HCM Suites for organizations that have more than 1,000 employees. It's worth noting that we are the only pure play HCM vendor in the leader quadrant alongside the ERP vendors. We have continually said our ability to innovate at pace and scale will result in us separating ourselves from our competition. We believe that's been clearly validated and at a point in time when demand for what we do remains strong. A consistent pace of innovation allows us to expand our addressable market across all segments and geographies simultaneously. Whether it's serving the world's largest global multinationals, delivering full suite capabilities in our native markets, or breaking centuries-old models around how and when people get paid. So far in 2022, we've delivered more than 840 new features to our customers, and we're not done. In the quarter, we delivered the following technology that makes work life better for our customers. HR Knowledge Management, which provides HR professionals with the ability to create knowledge bases that empower employees to find answers to their common HR and compliance questions proactively. HR Knowledge Management is delivered seamlessly to employees through our engaging employee experience hub. Mobile time sheet management that provides managers with a fast and efficient way to view and edit and manage time information for their teams directly on their mobile devices. Integration Studio, which provides self-service enterprise integration capabilities, enabling customers to build, deploy, and manage their integrations with Dayforce. Integration Studio automates many of the traditional manual integration reporting tasks that companies wrestle with, and in doing so, makes our customers more efficient. Further, it's the strength of our highly differentiated technology, a single solution, and continuous calculation engine that allows us to deliver innovation like Dayforce Wallet, where we continue to see incredible market momentum. Today, more than 1,340 customers have signed for the Dayforce Wallet and over 750 are live. Average registrations continue to trend at 45% of eligible users, and the typical Wallet user uses the Wallet about 25 times per month. These trends illustrate what our customers are telling us, which is that Dayforce Wallet is modern payroll. It's increasingly becoming an expectation from employees across organizations of all sizes and industries. Recall Dayforce Wallet is differentiated in that it allows employees to get paid when they want in real time with no additional cost to the employee or the employer, thereby improving employees' financial wellness by avoiding costly alternatives and while significantly reducing employee turnover and cost for our customers. All of this and more will be on full display at our annual customer conference, held live for the first time in three years, starting next week, November the seventh to tenth in Las Vegas. Reflective of our market demand, we have a high number of attendees across both customers and prospective customers, and we look forward to introducing you to what I believe will be another paradigm-breaking innovation. Before passing it over to Leagh to give you more details on our results, let me conclude by saying I'm very pleased to see us continuing to execute on all of our growth initiatives and making meaningful progress on our path to 30% adjusted EBITDA and operating cash flow generation. We have long committed to being the market leading global HCM company, and this quarter is continued proof of that. Leagh, I'll turn it over to you. Thank you, David. As David noted, we're continuing to execute on our growth levers while at the same time demonstrating our ability to drive scale. In Q3, we saw continued momentum across all segments of our business, from emerging to large enterprise and in every region in which we operate. Year-to-date sales are up significantly year-over-year. This is driven primarily by net new customer wins. After 2 years of significant investment in the strength of our sales engine, we continue to see sellers' productivity increase. For the 9-month period or year to date, deals above $1 million are up over 50% year-over-year, which is indicative of both our move-up market and also the breadth and relevance of our offering in the mid-market. Global traction continues with a stellar sales performance from our EMEA region in the third quarter, wherein we have strong momentum in the mid-market that's becoming consistently augmented by large global transactions with notable large enterprise and EMEA-based customers. Our fourth quarter pipeline is strong. While our teams are focused on delivering in Q4, they are simultaneously building pipeline on the back of very strong market demand. I'd also like to note that among our customer base, 38% now take the Dayforce Suite, and we maintain a healthy back to the base sales motion, which represents approximately 25% of year-to-date sales. The customer wins listed in our earnings release illustrate the strong demand for Dayforce. As we've said all along, our platform scales, and this is evidenced by several very large global customers selecting Dayforce as their platform of choice over the course of the last quarter. As already reported, one of the world's largest shipping and logistics companies chose Ceridian to provide Dayforce Payroll and Dayforce Wallet to modernize its payroll processes and to offer unique recruitment and retention benefits. At seasonal peak, we will handle approximately 700,000 employees on our platform for this single customer, and we have shifted to the critical work of getting them live successfully. As well, in Q3, a leading UK retailer chose Ceridian to provide its full suite of Dayforce capabilities, including managed services to support 50,000 employees across Europe and Asia Pacific. The largest flat rolled steel company in North America selected Ceridian to provide its 25,000 employees with payroll and workforce management in a complex and highly regulated environment. In line with our growth lever strategy, we've delivered momentum in the global large enterprise while continuing to win in the mid-market and in selling back to the base. A US financial services company with 8,000 employees globally chose to expand its Dayforce use to include payroll. With workforce management already in place, the company was focused on streamlining its payroll processes with the help of Dayforce. The key differentiator in this win was Ceridian's modern technology that provides continuous calculation and the ability to increase payroll accuracy and efficiency. A global leader in packaging machinery and manufacturing chose Dayforce as its unified human capital management solution. With 5,000 employees in 27 countries, the company was looking for a single system to replace multiple platforms. With pay, time, and HR in the single global Dayforce platform, the company will have better visibility into its data and can strengthen security and compliance. In addition to great sales momentum, we're now operating at 74.8% adjusted cloud recurring gross margin and have a clear path to greater efficiencies ahead as we continue to leverage our global footprint, international shared services centers, and as we scale our platform. All of this operational scale is being driven while we continue to improve the core service metrics our customers have come to expect from us. Customer retention rates remain best in class. Customer CSAT scores, which we monitor daily, continue to exceed expectations. Support tickets, which are a proxy for both customer and product efficiency, continue to trend downward despite us supporting a record number of customers. Our SI ecosystem, essential to our ability to grow and scale, is now comprised of more than 170 partners, many of which are priming our customers' implementations of Dayforce globally. Looking internally, we are so proud of the way that we are growing and developing our people to reflect the customers we serve and to ensure the long-term health of the business. As examples, more than 50% of our employees globally are female. 50% of our VP level and above are female. As a result of these stats and many more, we were welcomed earlier this year onto the Bloomberg Gender-Equality Index, and we have completely eradicated pay disparity inside our four walls. By every measure, this is a very healthy business, primed for continued success. Before I pass it on to Noémie, I'd just simply like to thank our customers and partners who have registered for our Insights conference starting next week. We deeply appreciate customers like Coca-Cola and Blackstone and Danone North America and Fourteen Foods and so many others taking the stage to showcase how Dayforce has made their people's work lives better while delivering the value and return on investment that is just so critical during these uncertain times that we are all navigating together. As I do each quarter, I would like to close with a broader thank you to our customers, to our shareholders, and to our people. Thank you. Thank you for the faith that you have put in us while we make it our mission to deliver on that in the day to day and quarter after quarter and year over year. With that, I'll simply turn it over to Noémie. Thank you, Lee. I'd like to provide additional color on our third quarter performance and full-year guidance, which is detailed in the press release published on our investor relations website. As David highlighted, our third quarter performance exceeded guidance across all revenue and profitability metrics, despite approximately 200 basis points of FX headwinds to growth. Notably, at constant currency, Dayforce recurring revenue excluding floats grew 27%, cloud revenue grew 28%, and total revenue grew 25%. Adjusted EBITDA margin of 20.1% exceeded our guidance range, driven by revenue upside in the quarter, as well as operational efficiencies, as illustrated by our adjusted cloud recurring gross margin of 74.8%, an expansion of 50 basis points. Third quarter operating cash flow of $52.1 million doubled versus last year, driven in part by operating margin expansion and float benefits. Turning to updated fiscal year 2022 guidance, I want to reiterate that our growth is impacted by additional FX headwinds driven by a stronger U.S. dollar compared to what we previously anticipated. However, on a constant currency basis, we are raising the midpoint and narrowing our full-year guidance range across all revenue metrics. For the full year, we now expect Dayforce recurring revenue ex float growth of 27%-27.5%, cloud revenue growth of 26%, and total revenue growth of 23% at constant currency. In reviewing Q4, I want to note that FX impact in the quarter is the greatest we've experienced year to date. On average, these FX headwinds impact our growth metrics by 300-400 basis points. Now, the last point I wanna make is we're raising our fiscal year 2022 adjusted EBITDA guidance to reflect revised float assumptions and flow-through of profitability upside in Q3. Partially offset by increased sales and marketing spend in Q4, historically our largest sales quarter. At the midpoint, full-year adjusted EBITDA guidance margin of 19% represents a significant improvement year-over-year. As said before, we're committed to investing for future growth while continuing to drive scale and efficiencies across the organization. Now, I'd like to turn the call back over to Matt to open it for Q&A. Thank you, Noémie. Our first question will come from Bryan Bergin at TD Cowen. Hi. Thank you. Good afternoon. Wanted to just start at a high level demand question. Can you just get a sense, have you really seen any impact to pipeline or the pace of buyer decision-making just given the increasing macro uncertainty? I'm just curious, you know, if you could talk by client segment size and by geography, it would be helpful. No, we haven't seen any impact. As Lee pointed out. Is this Alex? It's Bryan. Oh, Bryan. Wrong sheet. Bryan, we haven't seen any impact at all. As Leagh pointed out, Q3, we had very strong sales year to date. Our sales are up significantly. The Q4 pipeline looks quite robust. Leagh, anything you would add? No. Okay. That's great. And then a follow-up, just on the sales force, you talked a little bit about that. Can you dig in a little bit more around productivity levels, how you're feeling about sales force staffing here and just overall retention in the sales force? Retention is quite good. We're fully staffed. Sales productivity is up, as Lee pointed out, significantly over the last two years. Thank you. Our next question comes from Mark Marcon from Baird. Good afternoon and congratulations on the strong sales results. Wondering, can you talk a little bit about, you know, the guidance? You clearly ended up beating here, you know, by a fairly material amount in the third quarter. Appreciate the FX. In the commentary you mentioned bureau being down 13%-14%. Can you talk a little bit about, you know, what some of the drivers are there, and how we should think about it? Sure. On the bureau side, if I look at the Ceridian payroll business, the old bureau business, which in Q3 was about $3 million, it drops down to about $2 million in Q4. That's largely just end of life of one of those particular platforms. There was an accounting true-up on the Excelity side of about $1 million that benefited Q3, and so obviously there's a drop going down into Q4. The other line items are largely consistent quarter-over-quarter. It's mostly those two items. One is the movement of end of life in an old Ceridian platform and a one-time true-up for Excelity. Noémie, maybe you want to- Just maybe a couple other things on the Q4 guidance for revenue specifically. Now we're not expecting to grow 18%-19% at constant currency. As you noted, there's a bit of FX headwinds on a GAAP basis of about $5.7 million versus our previous guidance. On Dayforce Recurring ex float, we maintain our 23%-24% guidance range at constant currency. So that hasn't really changed from last time we issued guidance. Remember in the second half of 2021, we had some net employment level recovery from COVID, which gave us a little bit of a boost. To compare on the second half is a difficult one, but we're maintaining our growth rates for Dayforce Recurring ex float. We're expecting a bit of float upside as a result of the continued sustained interest rates environment, which we've reflected in our top line guidance. The other lines, David touched on them. The other thing I would say is Powerpay is still expected to decline single digits, but primarily due to FX headwinds. The core business on Powerpay is holding very well. We actually had a strong performance in Q3, and we'll continue to maintain that throughout the end of the year. Great. Just to be clear, with regards to Ascender and Excelity, in terms of new sales and client retention, those continue to go well, correct? They do, and we actually are still selling Ascender in market quite successfully. Terrific. Thank you. Our next question comes from Siti Panigrahi from Mizuho. Hey. Thanks for taking my question. It's very impressive to see these large size deals like another 700,000 users deal. You even last few quarters you talked about 100,000, 50,000 users kind of deal. What's really driving such demand lately? Is it something to do with have you started seeing disruption by a legacy vendor? What's really driving such demand, and could you talk about pipeline of such large deals? Well, I think again, Siti, thanks for that. Remember, this has been a journey over the last about 3, 4 years, starting with the restructuring of the sales force, building out quite an extensive partner network, and obviously proving to the market through successful deployments that the technology can scale to very large organizations. Our global footprint has also helped differentiate us relative to the other players inside the actual market. I'd say the combination of those 4 things are coming together and we're seeing continued traction quarter over quarter into the very large enterprise. Typically, you know, December this year, one of your big go live month, how is the pipeline this year? How does it look like? Also, could you comment about some of these large deals you closed recently, when do you expect them to go live? Sure. Well, we have the larger accounting firm that actually will go live in quarter, I believe, which is actually quite successful. It's a very quick deployment of probably must be about 7 or 8 months. Yeah. For well over 50,000 people. As you know, we've had quite a few of those going live in about the same time period for that. We do expect a strong go live quarter inside Q4. From a sales perspective, it's also our largest quarter and we're expecting another successful sales quarter as well. Great. Thank you. Our next question comes from Bhavin Shah of Deutsche Bank. Bhavin, you may be on mute. We'll take our next question from Matthew Pfau of William Blair. Hey, great. Thanks for taking my question, guys. Wanted to ask on the EBITDA margin improvement, maybe you can just discuss, you know, more specifically what operating efficiencies you're seeing and then, you know, in the future, what operating efficiencies do you see that are gonna get you to the 30% EBITDA target, EBITDA margin target that you mentioned. Thanks. Sure. We're quite focused, as you've heard us speak about this over the last number of quarters. Firstly, we're committed to taking the cloud recurring gross margin from the 74.8% where it is currently to 80% by 2026. The areas that I was coming from, as Lee pointed out, we've seen efficiency from the customer support and on the operational side coming from having more advanced software and better processes in place. She actually mentioned that the number of support calls coming in is actually at a record low, even though we've had many more customers live, which is one example. We've obviously used a lot of automation and technology to get to that particular cycle point. On the actual sales and marketing side, G&A side, the goal of the various to hold them relatively flat as a percentage of revenue as we continue to expand. A lot of the actual margin comes from two trends of recurring. The first is every year, as you know, the percentage of total revenue that come from recurring revenue goes up by about 1%. The second part that happens is the percentage of recurring revenue that come from cloud versus the bureau side. Recall that the cloud has a 74.8% margin, and the bureau currently has about 61% margin. As that shifts more towards the cloud recurring side, it lifts up the overall recurring margin of the actual business. By 2026, we expect that movement to be quite significant, and that drives quite a lot of the improvements. Great. Thanks, guys. Appreciate it. Our next question comes from Daniel Jester of BMO. Hey, good afternoon, everyone. Thanks for taking my question. Maybe just to expand on that margin comment, David. Can you just, you know, it feels like a lot of that is organic, the natural evolution of the business. If we do see a slowdown next year, are there levers you could pull to sort of accelerate that? Or is that sort of a linear progression as we get to 2026 on the margin opportunity? You know, our business is a highly plannable business, as you can see via our guidance for the second half of the year, which Noémie spoke about when we spoke about the Q2 results. We said we would grow Dayforce's recurring by about 25% in the second half. You know, it remains the same. We get tremendous visibility, which means we can also control the business quite well. If there is a slowdown, which again, we don't see that in any of the trends in the market, in the pipeline, the buying decisions, the go lives, et cetera. If it does, we can obviously improve the profitability quicker. If you recall, if you go back to Q1, you saw us not being shy about making operational changes to drive efficiencies. Furthermore, if you go back to the acquisitions that we did in APJ, in Asia, part of our thesis was that we could leverage the global footprint of those organizations to drive efficiency through our business, and we are doing that. Whether it be on the product and technology side, the customer support side, the implementation side, finance, G&A, et cetera, we're taking advantage of the lower footprint, cost footprint in those offices. Great. That's really helpful. Thank you. Just a follow-up on the wallet. Appreciate you know providing the detail here about the pace of customer go lives. You know, if I look back over the past year, it's been somewhere between 100 to you know 135 a quarter. Are we now at a pretty stable pace for go lives, or is there a possibility that we see wallet you know further accelerate on the go live basis from here? Thank you very much. I think it's a constant screen. You know, if I compare it, we've effectively got about 500-600 accounts in backlog or go live. It's just a matter of activating those particular accounts. Once we do that, you know, there's a bit of a time when we go from taking them live until we get the registrations and the active card users for each of the different clients. When I look at it, we do probably around 700-800 registrations on the employee basis per day, and that has been somewhat constant over the last little while. Great. Thank you. We'll take our next question from Mark Murphy of J.P. Morgan. Yes, thank you very much. So David, in your script, you mentioned this focus on quantifiable value. I'm interested in whether you think the value proposition of the wallet is actually gonna resonate stronger, you know, if we do get into an economic slowdown. Perhaps you'd have the typical business with more employees feeling a little strain and maybe wanting to access their pay sooner. You know, maybe there'd be a little extra catalyst to keep maybe that registration percentage higher. Mark, a few things. Wallets today has become really the same as modern payrolls. That I don't think there's any organization out there that's looking for a modern payroll system that doesn't expect to have wallets embedded in the solution. From a financial wellness perspective, there is definitely a huge benefit to people through the flexibility that the wallet provides, especially given that we do not charge the employees any fees to use the wallets in North America, that is paid through the interchange. The benefit that we've seen from a quantifiable value perspective for our customers is that the voluntary attrition rates have improved by more than 20% at those organizations that have rolled out the wallet, which is a tremendous savings to those organizations. It costs between $5,000-$10,000 to replace a person at a typical organization. A huge savings if you can save hundreds, if not thousands of people leaving your organization. We're seeing very high attachment rates of the wallet to new payroll customers, and I don't expect that to change. Okay, great. As a quick follow-up, again, I clearly understand you're not seeing, you know, it sounds like you're seeing health, which is impressive and you're not seeing macro issues. Just to check on it, if the macro does end up manifesting among some of your customers at some point in this cycle, do you think they're going to be able to find the resources and the bandwidth to keep the Dayforce go lives, you know, kind of running on time? Because part of the reason I ask is that it sounds like they are. I believe you have better capabilities than ever to be migrating the data and, you know, providing that deployment help and then providing all the support. Just wondering if you think you're gonna be actually in a better place there, for instance, than when the pandemic hit? You know, from the onset of Dayforce, the goal always has been to make every employee think like a CFO. Very much a strong focus on return on investment to our customers. In an economy where people may be nervous or more focused on cost and efficiency, our messaging really resonates nicely because, as you know, you know, we ranked number 1 for payroll, number 1 for compliance by Gartner. We have, I believe, the fastest return on investment in market, which our customers have spoken about. I think Forrester and others have done case studies on that as well. Our messaging resonates very nicely. We've become quite efficient on the implementation side. Earlier today, I mentioned that one of the large accounting firms, probably the leader in the world when it comes to taxes and such, is going live, I believe, with the product in Q4, and that, I believe, was a Q1 sale. You're talking about well under a year in terms of go live and obviously tremendous complexity around that. I do believe that our customers will continue with the implementations, will continue taking live because of the savings that they're able to get from our system. In addition, the compliance side does lower their liability. Payroll and workforce compliance and HR compliance today are becoming more and more difficult. The only other thing I would add is that we aren't constrained either. You know, we spent the last couple of years, as you well know, building out an SI ecosystem, and so there are far more hands in the market to be able to bring our customers live. Excellent. Thank you. Our next question comes from Robert Simmons of D.A. Davidson. Sorry about that. You're good. Yeah, yeah, sorry. Took me a second to unmute. Thanks for taking the question. How much of a catalyst do you think that the INSIGHTS conference coming back in person is going to be for you guys? Not so much this year, obviously, but next year. First, we're very excited with the Insights conference. When we look at the number of prospective customers that are attending, the levels are very, very high. I would think that there's probably close to $100 million of recurring revenue in terms of opportunities across the the prospective customers that are attending. In addition, we expect very healthy attendance from our customers. The agenda looks fantastic. The customer speakers, I think, are wonderful as well. As you know, we've always seen a high conversion rate of prospective customers to live customers. It should be a very good conference, and hopefully we'll see you there. Leigh, anything you would add on that? I think all I would say is it does two things. It accelerates deals in the current quarter, which is important, and it helps us build pipelines for the future year, which is also important. You know, what we accomplish in three or four days is really meaningful to the next year and to the success of closing out this one. Got it. That makes sense. I guess just kind of the competitive landscape, are you seeing anything you call out from the competition, that's different, in terms of, pricing, marketing, sales approach, product, anything like that? I mean, James is looking at me. I would not say that there's a demonstrable difference in the competitive landscape. What I would say is, we were very pleasantly surprised by the Gartner Magic Quadrant and the fact that we are now alone as the single HR-only vendor in the leadership quadrant, which I think will make a demonstrable difference going forward with respect to the way that we compete. Got it. Thank you very much. Our next question comes from Kevin McVeigh of Credit Suisse. Great. Thanks so much. Hey, Noémie, I think you'd referenced some incremental sales and marketing in the fourth quarter. Is there any way to quantify what that incremental investment was relative to initial expectations? As you know, we just talked about our INSIGHTS conference that we're hosting next week, so that's definitely part of the investments we're making in Q4. We're also increasing obviously our travel capabilities for our sellers and implementation teams because we want them in the field talking to customers in the fourth quarter, which is our historically largest quarter. There's a little bit of incremental travel as well, which was expected and which we're supporting fully. Those are the main items. The rest, in terms of adjusted EBITDA guidance for the full year, we're flowing through the excess profitability from Q3 and the additional float upside, and we're continuing to make investments to fuel our largest sales quarter. Great. Just quick follow-up on that would be, what type of rate assumptions are assumed in the Q4 float? Yeah. We're assuming the current rate environment. If you're referring specifically to the recent Fed rate hike, that's actually embedded. Remember, because our portfolio is laddered and we have half of it invested in core, the effect will be throughout 2023 and beyond. That's the float guidance embeds the current rate environment and continued ladder of our portfolio. If you need me to answer the question, we ended off Q3 with the float balance of a range of 2.19%, and we would expect it to be about 2.7% in the fourth quarter. Thank you. Our next question comes from Michael Turrin of Wells Fargo. Michael, you might be on mute. Our next question comes from Alex Zukin of Wolfe. Hey, guys, can you hear me? Yeah, we can hear you. Perfect. I guess maybe just two or three from me. First, there was a deal that you mentioned, that you talked about, in the press release, this diversified metal solutions provider, that you guys, you know, was 11,000 employees, 40 unique operating companies with multiple products, and that was led by an SI partner. I guess, can you talk a little bit more about that deal? What was unique about it? What was interesting? Was this a global SI or a strategic partner? And the reason I ask about that is, again, it seems like a highly complex deal, not just, you know, a single module for a big company, but really an entire suite. I wanted to just understand a little bit of is that. Do you have more of those in the pipeline? I got a quick follow-up. Yeah, it's a great question. Why don't I grab it and just say, you were right. First of all, I think it was 12,000 employees. I believe there were 316 locations, 12 countries. We replaced 35 separate, disparate solutions across, to your point, 50 unique operating companies. Yes, it was a full suite, and it was deployed by a partner. You asked, I think the subtext is, are our partners capable of doing that? The answer is yes, they are. The partner who did this deployment is actually a long-standing partner. They've been with us for some time. They would be on the further end of the learning curve. This isn't a brand new partner to our ecosystem. They were able to bring that customer live successfully in record time. The question is there more of those out there? The answer is yes, many. You can imagine that it's our ambition, as you well know, over the course of the next couple of years, to shift significantly in that direction. What we're doing in many cases is we're subbing in other partners into our projects in order to be able to learn and develop at rapid speed so that we can do even more of that over time. Perfect. I guess maybe also just a broader question, maybe for David. I know we go back and forth on this. I wish we could, you know, get bookings from you guys, particularly when it sounds like they are very, very good. Absent that, is there a way to kind of qualify what you're now. You know what you saw in Q3, the incremental opportunity that you see in Q4? More specifically, again, you're putting up really strong bookings performance in the backdrop of a very, let's call it, you know, scary macroeconomic environment. You're not seeing, you know, demand cycles lengthen or anything yet. I wanna understand why, and more specifically, you've been through these types of economic cycles before in various companies. Are you just gonna see it later? Is there something that is making this space more resilient given the backdrop of coming out of COVID and these deals getting delayed? How do you see this playing out, not just this quarter, but over the course of the next year? A few things. The first, the post-pandemic world is much more global than it was beforehand. The work from home is now quickly becoming work from anywhere. We're finding the requirement for global capabilities to be greater than before. There isn't anyone else really in market that has a single system where you can handle the construct of a global employee record with native payroll capability, native workforce management capability built into the actual product. That's driving a lot of the decisions that we see on the enterprise side, where customers are coming to us, because I don't think there are other really viable solutions in market. In the mid-market, which goes for us up to 3,500 employees, and even the enterprise space goes up to 10,000 employees. There is a significant cost savings when you move to a single application because you don't have to pay for the database, the infrastructure, the employee record across each of the different modules. They all come together. There's tremendous efficiencies just from a subscription payment perspective. From an operation of the system, it's obviously much more efficient and much more natural for people to use that. I think that's driving a lot of the decisions inside the market. Finally, we always have been the strongest in compliance. In many cases, customers come to us because they've had issues with other vendors in the space about paying people accurately. We obviously do that very well. In fact, that's inside one of the features that Joe's gonna show is now an add-on to the employee hub, where there is a compliance dashboard that provides information by jurisdiction about what the changes are in terms of compliance and payments requirements and such. I think that's a very big part of it. Thank you. We'll take our next question from Samad Samana from Jefferies. Samad, you may be on mute. Sorry about that. This is Jordan Baretta on for Samad Samana. David, Noémie, Leagh, congrats on the strong results. I wanted to maybe touch on the bookings mix. Leagh, you noted that in the prepared remarks. The number of greater than $1 million deals are up 50%, and obviously that's extremely impressive. Could you maybe give us some color on how the bookings mixed by customer segments of maybe mid-market versus enterprise trended this quarter versus the prior quarter? Sure. I mean, maybe what I'll say just to pick up the point that you put down is that it is true that the number of million-dollar deals are up 50% this year. I would just underscore that those are deals in the upmarket, so let's call it enterprise and large enterprise. We're also seeing a significant number of $1 million plus PEPPM deals in the mid-market as customers buy a full suite. I just put a finer point on that. With respect to momentum, I would say, you know, we are categorically seeing it everywhere. We're seeing it in our emerging market. We're seeing it in our mid-market. That's in North America, EMEA and APJ. We're seeing it in the enterprise, which to David's point, is between 3,500 and 10,000. We're seeing it in the large enterprise above 10,000. There is not one segment that we operate in where we are seeing a slowdown or any degradation in our pipeline momentum. Great. That's helpful color there. David, I wanna ask you a quick question on M&A. The last acquisition that you guys closed was ADAM HCM in December of last year, and broadly tech valuations have come in quite a bit since then. Has there been any change in how you're thinking about M&A and maybe for future M&A, are there any specific regions you're targeting more so than others globally? There's been no change in terms of M&A strategy. Obviously, I think there's still a bit of a lag between the expectations of privately held companies versus the public markets. You know, we don't have any burning fires we have to jump on, so we're quite patient to wait and see what comes out. Areas that we always are inquisitive would be around the DACH countries into the Nordics, where we have a bit of white space at the moment. We are by the way launching German payroll in 2023, and we have a huge backlog of customers for the German payroll, which is actually quite exciting. Awesome. Well, thanks for taking my question, guys, and again, congrats on the strong quarter. Our next question comes from Steven Enders of Citi. Okay, great. Thanks for taking the question here. I wanna ask more on the channel initiative. I think you called out some good opportunities that you were brought in from channel partners. I guess, how much is the channel at this point bringing you into opportunities versus more being a fulfillment engine for you? It's a great question. I would say, you know, ±50% of our pipeline is influenced through partners. That's partners of all kinds. That's system integrators, that's brokers. They're touching a lot of our pipeline now. What we're seeing when they do that is that our win rates in that segment of the pipeline are increasing quite significantly, because the pipeline is better qualified. Okay. Gotcha. That's helpful. And then maybe just another quick question on the guide here, just in terms of you know, EBITDA and how you're thinking about float income kinda flowing in there. I think you mentioned in the past that we're kinda thinking about, you know, 50% of float upside, you know, going to the bottom line. Is there any change in how you're thinking about utilizing the float upside here? And then how you're kinda thinking about kind of further investments kind of beyond 4Q there as well? No, there's no change. You know, we've been quite focused, as you know, on. You know, when we look towards 2026, we see about $2 billion of top line, 80% recurring margins and about a 30% EBITDA. We also believe that operating cash flow will be very close to the EBITDA numbers, adjusted EBITDA number as well. Regarding float, we invest the float in a triple-A rated fund, which means that we are quite limited in the types of securities that we can invest in. It's largely government and triple-A rated corps. There are certain rules around the amount of leverage that you can do as well. We put about 50% of the balances into a liquidity portfolio, and there we typically get the overnights, and the other 50% goes into a portfolio that we typically lever up about 2.5 years. It gives us. You know, there's a little bit of time before we get the full impact of the raise of the interest rates. If they do come down, which I expect they will come down at some point, it takes longer for that to actually, kind of wind down as well. The rates that we're in at the moment, I would call that more of a normalized rate environment, quite similar to prior to 2008. Has always been part of the operating model, if you like, of our type of business. In terms of investments, we continually invest heavily in product and technology. If you look at the year-over-year investment growth that we've made in products, you know, you can actually see what we're actually delivering from that investment as well. Sales and marketing, we continue to invest in sellers. Q4, we're having the investment in our INSIGHTS conference, which is probably about a $6 million investment in that particular event alone. We're very mindful of making sure that we do get return on all investments. Okay, perfect. Appreciate the color there. Our next question comes from Raimo Lenschow of Barclays. Thank you. David, I wanted to go back to one of the earlier questions when people were questioning demand and why demand for HR. What are you seeing post-pandemic? You mentioned compliance already, et cetera, but like, talking to people in the market, other vendors as well, it does seem like HR got elevated as a pain point post the pandemic, and hence it feels like it's more strategic again. I don't know if you could do you see that as well. If you comment on that one. Coming out of the pandemic, you had the increase in attrition rates across clients. It became more important to have things like succession planning, properly outlined and have proper strategies around that. There was more of a movement, as I mentioned, to more global workforces, and so finding an HR system that could manage a global workforce and report on that. Analytics became very important because all of a sudden you had to think about, did you have enough people to handle the capacity that you were trying to push through your business? Without having metrics around your people, that's obviously very, very difficult to do. The movement to architectures like ours, where it's all one database, that makes that type of analytics much easier. Compliance has become more difficult. It started during the actual pandemic when tax rules were changing almost weekly. There's been continual focus on things like employee privacy, wage laws, kind of fairness rules for the employees, payment rules for the employees, minimum wage rates for the employees. You need a sophisticated system that can handle those types of requirements. Yes, in a world of today where we are almost at full employment, you have to make sure that you can get as much as possible from your people. You have to make sure that the experience that you have for those people is as best as possible, so that they wanna stay and continue to build out their careers at your organization. If you do have vacancies, you do have to have strategic talent acquisition systems that need to leverage AI and ML to make sure that you have the right candidate experience and that you are bringing on the right people. When there is churn, you have to rely on learning management systems because you need to have embedded learning throughout the experience of the actual people. All of that, I think, has become very, very important. Probably the last piece I would add is that, as you know, workforces today are more distributed. There hasn't been a return back to the office, and I think the Dilbert kind of era is over, and people aren't gonna go back to cubes. You do need to have HR systems that can really help with collaboration and idea sharing, new ways of doing performance management in this new world of work. The only thing I would add, if I could, to that very thorough answer is that, you know, we used to manage people shoulder to shoulder inside an office. Given that people aren't returning to the office, organizations are relying on technology to support that work, period. As a result, to your question, a direct answer is HR and HR technology has become significantly more strategic post-pandemic. Okay. I'll leave it at that. Congratulations. Thank you, Raimo Lenschow. That concludes our Q&A session for the evening. Thank you, everyone.