Good afternoon, everyone, and welcome to the Cantor Fitzgerald 2025 Tech Conference. Today, we have the pleasure to host the Domo management team, Mr. Josh James, Founder CEO of Domo. Domo is a data cloud and AI platform. Specifically, it is a leader in business intelligence and analytics and data integration. We like to keep things interactive, so we'll be sure to leave about 10 minutes of Q&A at the end. Without further ado, let's kick things off with a brief management introduction, Josh. How about, you know, like. Yeah, absolutely. Yeah, so Domo, imagine if you had a friend who's the smartest person in the entire world, and he happens to work with you, and he knows anything and everything there is to know about your business, and he also can automate portions of your business. That's what Domo is. It started because I had another company called Omniture that I took public back in the day in 2006 and sold it to Adobe in 2009. The whole time I was running that business, we were selling web analytics. It was an online marketing suite. I always found it so ironic that all my customers had all this real-time data about their business because we were selling real-time web analytics data. Yet, I knew very little about my own. I knew all the data lived digitally somewhere. We set out to make sure that you could have access to that data right there on your phone. And now we're really a platform for AI products and data products. That's a good introduction, Josh. Maybe let's start off with the most general question. Obviously, macro has been biting us across the entire industry. You hear about longer sales cycle, more scrutiny and approval, but it appears Domo has been navigating this volatility fairly well, in my opinion, right? How would you characterize the macro environment today versus what it was six months ago and 12 months ago? Any commentary on the new incoming administration? It's been about 60 days. Obviously, we heard about DOGE How does that affect Domo? Yeah, I think the macro hasn't changed that much in terms of how it's impacting our business over the last 12 months. Definitely, a lot of chatter about what's going on right now and uneasiness in the stock market definitely makes customers uneasy as well when they're thinking about spending decisions. I think there's just jittery. Everyone's jittery right now. That's not a positive thing. That said, I think when the macro really changed the first time post-COVID, it definitely affected us. It exposed some weaknesses that we had in our business. We rapidly adjusted. We've moved entirely to a consumption model. We stopped charging for seats. That's where the weakness was for us. We had some customers that only had us in one department. We had customers where we didn't know the CIO. We switched to the consumption model. Everybody has access to the product now. That's really stabilized our customer base. We actually guided retention up this year a couple percentage points. We're seeing the customer base really stabilize in terms of long-term relationships, really reflecting on the strength of the relationships we have with our customers and how much those customers are relying on us, in fact. It's been nice to finally get to a spot where we're like, OK, the customer base is stabilized. We've got great enterprise customers. We've got great mid-market customers. We are cash flow positive. We've guided the fact we're going to be free cash flow positive this quarter and this year. Finally getting to the spot where we're like, OK, we can see growth again. Towards the back half of this year, we'll start seeing at least growth, where the last couple of years it's been challenging for us to kind of just stay flat. I guess a lot of work cut off for RJ, huh? Yes, sir. RJ's sitting right here. He's our CRO. And he's really. No pressure, though. No pressure, except for the entire weight of the company and world's on you. It has been one of the other things that we really focused on over the last couple of years. One of the other weaknesses I mentioned, we did not have relationships with the CIOs. A big part of that was not necessarily deliberate. When we started our company, we had to create the full stack of connecting to your data, ETL for your data, storing your data, and then visualizing, presenting, building data products and AI products on top of it. We had to build the whole stack. In the process, we became competitive with the CDWs, the Snowflakes, and the Databricks of the world. At the time, we were all the same size. We did not know. We kind of picked the wrong way to go about it. We should have partnered with those guys early on. We were viewed as competitive. We fixed that a couple of years ago. We said, all right, we're going to really change the way that we run our business and the way that we architect our business. Now every deal that we go into, we're bringing a CDW with us. That has really dramatically changed the relationship that we have with our customers. It has changed the way that we're perceived by the CDWs. We're still working on that. They like us a lot. We help them. Historically, they would have to go and close a deal with five other vendors. Now they can just go into that customer with us. Because we have the rest of the stack, it helps the deal move along much more quickly. This segues really to the partner ecosystem update. Obviously, it's good that about two years ago, you went to the consumption transition. It's been an accelerator to efficient partnership deals. As you can see, you're partnering with CDW, independent software vendors, hyperscalers, and system integrators. Can you offer us more detail, I guess, Josh? In your last earning calls, you mentioned that when you do partner with these CDW and SIs, your conversion rate is five times faster and your close rate is two to three times faster. What does Domo bring to the table, the partnership that helps you close these deals faster, converts better? Vice versa, what does the Snowflake of the world, the Databricks of the world, offer you? Yeah, I think you brought up consumption. I think it's really pretty stellar what we've done, what my management team has done over the last couple of years. If you look at it just from the outside and look at the financials, don't see the growth. We struggled with retention there for a bit. That's one way to look at it. Another way to look at it is, in spite of those things, we were able to pretty dramatically change the company and stabilize retention. We're approaching the high 80s this year. Hopefully, we can see a 9 next year with our gross retention. Just really, over the last 24 months, we've gone from 5% of our business was on consumption and 95% was seat-based. We've almost swapped that just in 24 months. We now have over two-thirds of our business that is consumption. The one-third that's left by the end of this year, I think we can approach 90% by the end of this fiscal year of our business being on the consumption model. I think that's pretty astounding and pretty quick to change an entire customer base. It really strengthens the relationship with the customer because, number one, they don't worry about who has access. That spreads opportunities for use cases. Number two, in a seat-based model, I think especially when the macro turns, if you're the CFO and you're like, we're paying for, let's say, 800 seats, in your head, you're like, there's no way the last 80 seats are as valuable as the first 80 seats. Let's cut a couple hundred seats. Let's just see what happens. Those directives come down. You're like sitting there trying to figure out how to argue that everyone needs access. It's a very difficult argument to make. Whereas in the consumption model, how do you say that the last data that was processed was less valuable than the first piece of data that was processed? The model is definitely more important and more stable with the customer. The customer, by definition, is getting value for every single piece of consumption that's taking place. That's been, I think, pretty astounding and pretty cool that we've done that over the last 24 months. The second piece, when it comes to the ecosystem, what part do you want to talk about, I guess, the most? I guess in terms of working with the system integrators, the Databricks of the world, the Snowflake of the world, what is it that they're able to bring to Domo that I'm imagining. Yeah, and the speed you're talking about. The speed as well. Conversion rates. Conversion rates. Yeah. Yeah, Yeah, so historically, we've always been fighting alone. We're going into battle alone. And we're something that is a part of a company's broader data strategy. In that analysis, historically, there was not a center of gravity. No one knew who was making that decision, which department was making that decision, when that decision was being made. We weren't a part of that conversation. Now every CIO out there has a data strategy, has a cloud data warehouse strategy. Most of them are making decisions to go on Snowflake, or go on Databricks, or go on Google, or sometimes multiple clouds. That's a conversation that we weren't a part of. Now when we're in there with a CDW, of course, our conversion rates are higher because we're not the kid at the end of the table hoping to get a scrap of food. We're a part of the data strategy conversation. That definitely changes our closure. That's where our close rates are literally 5x from just a raw lead. If that lead comes from a CDW, it's 5x. We've definitely allocated a lot more resources towards making our product ready for CDWs and then also the relationships that develop with those CDWs to make sure that we can go to market effectively. Basically, you're part of the conversation with this. You have a seat at the table, which leads to the next question, Josh. On the last earnings call with Snowflake, they talked about shifting kind of to the left, where they're trying to do some of the ETL stuff. That's extract, transform, load, the data ingestion side. What is it that Domo—I understand you guys have a lot of integrations with a lot of vendors. You invested heavily in that. Are you any concerned if these large software vendors get into that space? No, I mean, I think everyone, the important component is getting the data. We have 1,000 different connectors. And we have a lot of experience connecting to anything and everything. I think we have more connectors than anybody. There are definitely lots of different tools and strategies that people use. Really, if you're in a department and you're trying to figure out how to get that data into Snowflake, you don't really care how you connect that. When you're using Domo, it's just another tool that we have that can help you connect that. Beyond that, it's not just if you go into and look at a Snowflake or a Databricks, et cetera, those CDWs have maybe 100 users at an organization, maybe 200, where we walk in and we'll add 5,000-10,000 users. All of those users are driving compute on Snowflake. We are a great partner to help drive compute for the CDWs. Those interests are aligned. When the reps see that and understand that, of course, it gets them excited because that is the main objective that they have, burning down those credits that have been purchased. We think we do that more effectively than anybody. OK. Josh, you talked about cloud optimization. We talked about cloud optimization, where you transfer from a seat-based model to a consumption-based model. Obviously, in the software space, there is a lot of pressure we have seen across all the SaaS companies, where during the pandemic, if I have 75 employees, I might buy 100 seats. Now it is the opposite. If I have 75 employees, I might buy 50 seats and see what happens, right? Right. Because you switched over to the consumption model, have you seen that really helped you guys propel in terms of, one, the usage, and two, you do not see that headwind anymore? Right. I think a couple of things happened. Number one, as we've demonstrated in this last quarter, our RPO has been climbing rapidly. We increased our long-term RPO by, I think, 38%, almost 40% just this last quarter. Our billings growth was approximately zero. To see that kind of RPO growth demonstrates the relationship that we have with those customers. What those customers are doing on the consumption model, they're able to see exactly what they're consuming right now. They're able to see the growth that they've had over the past year. It makes them really comfortable saying, OK, we're going to commit to the growth for next year and to the growth for the year after that because by doing so, it gets them a lower price per credit. We're actually seeing customers with the consumption model being really comfortable leaning into it because they have historical trajectory. I'm going to stick with this topic, Josh. And feel free to grab Todd, since he's here on the financial side. Long-term RPO has been great, 38%, 14% for the overall. Obviously, customers are investing all in in Domo, right? Domo Everywhere. What's driving that force that, hey, look, we're not just going with one product? And can you discuss what are the products that they're going all in on? And obviously, what's driving them to get there? Is it over time or is it like, hey, let's land big? No, the incentive for the customer is if you make the commitment for more credits, if you make the commitment for multiple years, then you're going to get a lower price per credit now. Even though you're not going to, let's say you're going to grow 20% next year and 20% the year after that, if you do an annual contract with us, you're going to pay the rate for this year. If you do a two-year deal, you're going to get the benefit of the 25% growth and a lower price per credit. You do a three-year deal, you're going to get the benefit of the additional 20% growth, and you're going to get that price per credit all three years. There is a pretty big incentive for the customer, and they're really comfortable, especially you see it in our customers. When you've got several thousand people using the product inside an organization, the company's really comfortable that their users like it, that they're getting value out of it. We're not charging them per seat. They're not worried about that last person, that last seat, how much value they're getting. They're seeing the value based on the usage. That consumption model really aligns. I think that's why we're having that success is we churned out some of the customers where we had unstable relationships. The ones that remain are really stable relationships. What are some of the products? Do they start with the BI usually or the ingestion suite or something else? Of our products? Yes. Yeah, usually it's, first of all, you've got to get the data in, right? It's usually some form of connector, some form of ETL, and then they start distributing it. What happens is either that one thing that they started with gets consumed throughout the organization, or someone else sees that and they say, oh, we want to do that. They go connect more data. They build another, they're building AI agents right now. A lot of our customers are, you're going to see at Domop alooza. We're announcing so many different AI agents that our customers are building. Can't wait for that next week. Josh, is the sell-on motion different just because now you're talking to CIO, CTO of the world? Yep. Before, you go to the business user, the department managers, right? Yep. Is it different that now you have the connection with the CIO, CTO that you could land bigger? Has the sell-on motion been changed? The sell-on motion's tweaked a little bit. Even the CDWs, usually when they're in there, they're most successful when they're selling a solution. When there's a business case, there's a business use case that the CIO is trying to solve for, or maybe they're trying to solve for four or five things. It's not just we need a data strategy. We need a data strategy to solve these use cases. Whether it's trying to figure out how to, we had a customer that we closed this last quarter. They're a legal software company, and they're trying to figure out how to get all their customers to use the legal software to manage all their cases. Our customer's trying to figure out how to get them real-time data about usage, alerts on that data, if something closed, if a case closed, what's the profitability on it. All that data is sitting in there. Domo's managing it. They're trying to figure out how to distribute that data, set up real-time alerts for their customers. That's a use case that's trying to deliver an outcome. We go back and figure out how to deliver it. It's really about selling that use case. Got it. Got it. Let's stick with the go-to-market motion. You talked about you're partnering with the CDW, ISV, hyperscalers, SIs. Yeah. Now, I know RJ's running hard on the sales side. In terms of the direct hires, obviously, you would need to, I guess, hire more, I would assume, right, as you get progress. What's your plan, I guess, seasonality in terms of hiring just to meet the demands of these new? Yeah, this last quarter, we actually had one of the most successful productivity per rep that we've had, certainly in years. It is nice to see the productivity be about where we want it to be. We think there's a little bit more productivity we can get out, but not much. It is nice to see the productivity that's come back that wasn't there for the last few years. Now, as we grow, one of the new motions is, to your point, how do you go and help build a relationship with the CDWs? You need some partner folks that there was a sales rep that worked at Domo for many years, very successful. Then he went to Google for several years. Now that we're building out these CDW relationships, he's like, hey, I want to come back and run Google for you. He knows everybody at Google and knows everything about Domo. He is one of the recent hires that we have made. He is just facilitating that relationship. When a rep goes and, let's say, they are talking to a Fortune 500 company, and we find out that they are on Google, we call the Google rep, and we go in together, and we sell them jointly. In many cases, it is not even a new opportunity. We just find out that their strategy is on Google. Before, we were independently just over here. We would not even talk about their CDW. Now we call the CDW rep, and we go and we just do a joint visit, and all kinds of opportunities pop up. It has been great for both sides. That is what is really encouraging. That is why we are leaning into it. OK. Let's talk about the product. Obviously, you can't have a SaaS software conversation without AI. Hot topic is really DeepSeek. They kind of democratize large language models, make it cheaper. And obviously, Domo AI has their own product, the AI/ML model management. I was wondering if you could talk about the traction you're seeing so far, what's the customer interaction? What do you expect to gain out of this? I know you're agnostic to any large language models, and you're able to provide that. What do you envision that? Yeah, so I mean, we're actually really excited about AI because everybody understands already that you can't just let AI run rampant in the organization, right? You need to have guardrails around it. It needs to be governed. It needs to be secure. We're actually the company that helps everybody do that with their data. When you use Domo, everybody has different levels of access in the company. You can apply AI models and let them just have access to the data that they already have access to. We also make all of the data like AI readiness. AI is only as good as the data that it's looking at. It has to be informed about what that data is. Because we connect to all this data, and we provide all the ETL on the data, we have a lot of metadata about the data. That informs AI models. We are seeing customers just rampantly build AI agents on top of the Domo platform. That is really what it is. It is a platform. Think about it. It is connected to everything in the org. All of the people have access to it. It is real-time data that sits on your CDW. It is just sitting there ready for AI. We have customers that are saying, we have thousands of employees, and we are trying to manage which employees show up to work when. Based on weather, based on all kinds of information, we are changing the schedule. Can AI do that instead of the 10 humans that we have making the schedule? They are building AI agents to do that. Again, all the data is already there. We're seeing, and we're going to announce this at Domo Palooza next week, our big user conference. We'll have 1,000+ customers there. We have dozens of AI agents that our customers are using. Now, Josh, let's say if I have to build this from scratch. Yeah. Without going to Domo AI, what are some of the tools I need? Is it automation tools that I need to piece together, stitch together to have it in one place for this work schedule automation use case you talked about? Yeah, I mean, if you do not use Domo? Yes. Yeah, if you don't use Domo, then you've got to have a way to build the agents. You've got to have an LLM. You've got to have data that's coming from somewhere to somewhere or giving AI access to that. If you're going to give AI access to that, you better be governing it. You need to have transparency and a list of everything that happened and transpired. That's a lot of components that you have to build. We already have all those components built. It's literally just applying the agent on top of it. Can we say you need data governance security? You need a tool kind of like a Workato, UiPath? Yep, you need workflows for sure. Workflows. Then model management to store it. You need to have alerts. You need to have humans in the loop being able to come in and check in and approve different things along the way. There are lots of different pieces that we've already built. You think about it, we've been doing machine learning. We've been doing workflows. We've been building data products on top of the platform. It's not that exciting just to have the data. It's what do you do with it? We've always been enabling customers to build data products on top of that. Now those data products are just being tweaked a little bit to be informed by AI, which is just moving them a lot faster. It's really fun to see the stuff that our customers are coming up with. Got it, Josh. The next question is more financial-related. I know Tod is here in the audience, CFO. Your balance sheet grew about $4 million-$5 million to end the year at about $45 million. You guys guided fiscal one Q 2026 free cash deposit as well as the entire year. Gives you a little financial flexibility. Can you discuss the roadmap, the sales roadmap? Are we supposed to think the first half you're going to build a pipe? You have events like Domo Palooza next week, sorry. Yep. Build a pipe. You're going to try to close it in the second half. Is that the game plan? Yeah, I mean, I think we're going to have some decent cores all along the way. We definitely see the acceleration happening in the second half of the year. It is primarily because of, like you're saying, build the pipe with the CDWs. We have been investing heavily into that arena here for the last year. We really only started seeing leads come in last quarter. With a kind of six-month sales cycle, you can see that it's going to take some time for that to build. We are seeing, like on Friday, we had just in one day, we had five leads come in from one CDW. We have multiple CDWs that we're getting leads from every week. It is definitely starting to build. Those leads are closing, like you said, you mentioned earlier, those leads are closing at five times the rate an average lead closes for us. The average deal size is a little bit larger than our historical average deal size. The other thing that I'd say is kind of the dollars that are closing from the ecosystem, they're better dollars than us closing independently. They're more stable dollars. There's more upside there. Again, it's part of someone's data strategy now. It's a blessed data strategy, which historically we didn't have that, especially in the enterprise. Much more sticky. In terms of the competitive landscape, obviously a lot of your competitors have gone private. In terms of what are you seeing, has that helped Domo as pretty much the only independent BI analytics platform out there? It's definitely helped as we've gone into focusing on the CDWs and that ecosystem. We're seeing not just the CDWs be excited, but the SIs that are built around all these CDWs. There are really big SIs that are focused exclusively on Snowflake, exclusively on Databricks. They are going in, and they're responsible for putting together these solutions for the customers. They're literally strapping together four, five, six different vendors to build a solution. Now that we're not competitive with those CDWs, and we're very friendly with those CDWs, and we're giving business to those CDWs, the SIs are like, oh my gosh, this makes our life so much easier. Just recently, one of those exclusive big SIs came to us and said they're exclusively going to work with us now and recommend us. We're seeing great traction. We're not seeing it in the financials this quarter. We're not guiding to lifts this quarter. We're definitely seeing it in our pipe. We think, hopefully, throughout the year, we're going to be able to even talk about how that's affecting Q3 and Q4. That's definitely one of the places where we can see some nice upside this year. OK. Last question from me, Josh, before I open it up to the audience is we've seen M&A activities in your data cloud space very active this year. IBM acquisitions of DataStax, obviously, it's not the same, but it's still in the data cloud space. Snowflake getting interest into Redpanda. What are the conversations you're hearing in terms of the M&As, I guess? Yeah, I think. Or vice versa. Are you interested in anything? I mean, we'll be interested in stuff when our stock's working. Yeah. Right now, stock's not working. We're, I think, one of the more undervalued multiples out there. I think there was a talk track that we were going to churn to zero when the economy churned, and we were having some churn issues. We didn't think they were as great as what was perceived on the outside. I could see the story. They're like, you got debt, and you're burning cash, and you're going to churn to zero. We're like, what? That's really the talk track? We had to prove that's not the case. Being able to say, hey, we're cash flow positive. We're cash flow positive this quarter. We're cash flow positive for the year. We have a $300 million recurring revenue business. We have very stable relationships with our customers, as demonstrated by our increase in RPO. We've got a great place out there in the ecosystem. If you think about all the CDWs, our competitors on the visualization front are competitors with all those big software companies. Tableau is owned by Salesforce. They're competitive with all the other big software companies. Microsoft is competitive with every other software company. All these other big software companies out there need a partner like us. They like us independent. It's independent. I think in terms of M&A towards us, there's definitely interest that comes in. I don't think you're going to see us go and there's not a multiple that's interesting when we're trading at $8 that anybody reasonable is going to pay. Give me a 50% premium on $8. Yeah, that's not that interesting. As the stock starts to work, then those conversations will be even more compelling. The best thing that we can do is just build these relationships with the ecosystem so that we're really important to these partners. We're becoming really important to these partners. We have the ability to stay independent to the extent that that's working. Definitely, we'll always have conversations and always take a listen. I think the most important thing we can do is just continue to build the business. To have a $300 million recurring revenue business, cash flow positive this year, finally got to that spot, and seeing growth accelerate through the second half of this year, I think we're in a really interesting and compelling spot. Josh, we definitely see the passion in your eye. You really want to make that business grow to go back to the 20% plus range. We are looking forward to, obviously, attending Domo Palooza, get on-the-ground checks as well. As for right now, let me open up for any questions from the audience if there are any. Any takers? Please. I'm just curious the dynamic potentially of any rebates that that's like the likes of CDW, which is the really low volume from Domo. Are you providing them a rebate which then they are ultimately passing on to the end customer? Sorry, I can't hear. The rebates. Remember you were talking about the longer you sign with Domo? Yeah. Is that your question? It's ultimately like a CDW. Are they providing a rebate? Are you providing the likes of a CDW a rebate that they then pass on to the end customer as they push through more volume of Domo's product? Oh, no, the kind of interests are aligned. We go to market together. There is not a transaction that takes place between us and the CDW. The customer, at the same time, the real compelling thing that we provide to the CDW, they go through and they look at their dashboard of which partners are driving consumption and driving compute. We are at the top of those lists. On a per-customer basis, we are driving a massive amount of compute. I mean, the way to think about it is we went into a customer, and that customer had a couple hundred seats with their CDW. Before us, they had a couple hundred seats with another BI vendor. We walk in there, and literally 10,000 people are logging in every month. The CEO is logging in every day. Big multinational company. To see that every single time someone's looking at those reports and asking questions, it's driving compute. That's the benefit, not just the fact that we can help them close faster and we can hydrate with all the connectors that we have, but it's the people that come in as well. The fact that we don't charge for those seats and we just charge compute, everybody's really aligned. Hey, Josh, big picture, not specific to your guidance, but if you think about AI and the utility of data is going to increase, right? You say you're the control point. You've got the data. As AI models are out there now, synthesizing data quicker, faster, better, cheaper, effectively, what does that look like overall in terms of an accelerant to the industry growth? You've got their numbers. You're sitting on this pot of gold, really, oil. What do you think about long term, two, five, ten years out? How much does AI accelerate the overall industry? I think it's, I mean, we think about it every day. We sit down and 10 people in a room talking about what AI is going to do, often, weekly. We have all kinds of offsites talking about it, making sure that we cannibalize our own business with AI to make sure that we don't become obsolete. What can that do? I think it's going to be, I mean, it's going to be more disruptive than the internet was in 1995. I mean, it's going to be the most disruptive thing that's happened that I can imagine. The thing that, at the end of it all, you still have to have compute. It's not like you look at, is it going to make all software companies disappear. Software companies, actually, there's not a lot of cost to the software. It's actually the compute behind the software. It's not like you're going to marginalize every software company out there. You still need that utility. Behind all of it, you have to have the data. The data is what informs it. You're going to have agents that govern. You're going to have agents that are buying for you. You're going to have agents that are auditing for you. All of those agents are going to drive compute and drive data. That data has to be governed. It has to be in a safe place. That's why I think AI readiness, managing all your data to be AI ready, and then what happens after that is going to drive a lot of business for us. We think that's going to be a huge tailwind for sure. I have a follow-up question on the AI question in your response on AI. Yeah. AI doesn't read dashboards. It doesn't need dashboards. It doesn't need visualization. It needs actions. It doesn't need dashboards. It needs. AI doesn't need to read a dashboard. Human beings need to read a dashboard. How are you going to, how do you look at the future? Because you have to make your data actionable. The same AI agents that you just talked about. How do you see the future evolving, just not with the whole industry as we evolve that? Yeah, you still have to think about when AI, you still have to think about what's the most efficient way for it to happen, too. You can't have a prompt, and every time you want to ask a question, you've got to go and run thousands of models to come up with an answer. There are efficient ways to do those things. A lot of the underlying tech that's out there, it's just going to be mimicked and mapped the same way by AI agents. You're not going to have to have all the integration and build the way that you do today. It is just going to make it so much more quick to get those solutions. That is, to your point, why I think it's going to dramatically alter the world that we're in. The compute is going to go up or go down in the number of. Oh, compute is going to go through the roof. The number of human beings go down, the amount of compute you will have will go up, right? Yep. OK. I think with that, I think this is a good stopping point with AI on a positive note. On behalf of the Cantor Fitzgerald team, we thank you, Josh, RJ, Tod, and Pete for coming over to New York City. We hope to continue the conversation next week at Domo Palooza. I think there is an analyst day session next Wednesday on the 19th. Correct. Thank you very much, Josh. Thank you very much. Thank you. Appreciate it. Thanks for coming. Thanks for coming.