Good morning, everyone, and welcome to the Kaltura Q3 2023 earnings call. All material contained in the webcast is the sole property of Kaltura, with all rights reserved. For opening remarks and introductions, I'll now turn the call over to Erica Mannion at Sapphire Investor Relations. Please go ahead. Thank you, and good morning. With me today from Kaltura are Ron Yekutiel, Co-founder, Chairman, and Chief Executive Officer, and Yaron Garmazi, Chief Financial Officer. Ron will begin with a summary of the results for the Q3 ended September 30, 2023, and provide a business update. Yaron will review in greater detail the financial results for the Q3 2023, followed by the company's outlook for the Q4 and full year of 2023. We will then open the call for questions. Please note that this call will include forward-looking statements within the meaning of the federal securities laws, including, but not limited to, statements regarding Kaltura's expected future financial results and management's expectations and plans for the business. These statements are neither promises nor guarantees and involve risks and uncertainties that may cause actual results to differ materially from those discussed here. Important factors that could cause actual results to differ from forward-looking statements can be found in the Risk Factors section of Kaltura's annual report on Form 10-K for the fiscal year ended December 31, 2022, and other SEC filings, including the quarterly report on Form 10-Q for the quarter ended September 30, 2023, to be filed with the SEC. Any forward-looking statements made in this conference call, including responses to your questions, are based on current expectations as of today, and Kaltura assumes no obligation to update or revise them, whether as a result of new developments or otherwise, except as required by law. Please note, we will be discussing a non-GAAP financial measure, Adjusted EBITDA, during this call. For reconciliation of this non-GAAP financial measure to the most directly comparable GAAP metric, please refer to our earnings press release, which is available on our website at www.investors.kaltura.com. Now, I would like to turn the call over to Ron. Thank you, Erica, and thanks to everyone for joining us on the call this morning. Today, we reported total revenue for the Q3 of 2023 of $43.5 million, up 6% year-over-year, and subscription revenue of $40.8 million, up 8% year-over-year. Adjusted EBITDA for the quarter was $0.3 million. For the Q4 in a row, we posted record subscription revenue, and our year-over-year total revenue growth rate was the highest since the Q1 of 2022. Subscription revenue represented 94% of total revenue, compared to 92% in Q3 2022. We are pleased to share that our keen focus on returning to profitability has proven fruitful and that we achieved adjusted EBITDA profits for the first time since 2020. In the Q3, we also posted $1.7 million in cash flow from operations, the highest since the Q4 of 2020. Stabilizing our bottom line and cash burn has been our main goal for the year. We repeatedly stated that we have reported both positive Adjusted EBITDA and cash flow from operations in 2019 and 2020, and that we had a plan to achieve it again. We are pleased to have achieved it again in the Q3 ahead of plan. Moving on to the business update. In the Q3, we secured a seven-digit deal with a new leading financial services customer, who has chosen Kaltura as their go-to platform for all their virtual and hybrid events. We also expanded our collaboration with two of the largest banks in the United States, including signing a seven-digit upsell deal with one of those banks. Over the quarter, we continued to see growing demand for consolidation around Kaltura across a wide array of on-demand, live, and real-time video use cases for both employees, customers, and prospects. This continued to drive larger deals with new customers and expansions with existing ones. For example, a leading Fortune 500 tech customer that started working with Kaltura less than a year ago to power external events and marketing use cases expanded this quarter with another seven-digit deal to also utilize Kaltura as their internal video portal for improved employee collaboration, knowledge sharing, and training. A European university customer expanded this quarter beyond our video content management suite, connected to their LMS, to also utilize a real-time conferencing virtual classroom solution to enrich their hybrid and remote learning experiences. From a marketing perspective, last week, we hosted our third annual Virtually Live event, our own virtual event for marketing and event professionals, focused on discussing how to best reach and excite audiences through virtual and hybrid events, including leveraging innovative AI tools. It was a huge success with thousands of registrants. We had insightful fireside chats and panel discussions featuring leading minds from the marketing world, including senior leaders from Kaltura customers such as AWS, VMware, Adobe, SAP, and Salesforce, which is a new 2023 customer that uses Kaltura to power live and on-demand videos in Salesforce+ in order to, among other things, provide the online experience for large events like Dreamforce, which took place this past quarter and was a huge success. This year's Virtually Live included a showcase of our latest AI-focused product releases, including crowd reactions, AI-based content discovery, and our new event, AI Assistant, which I will talk about later. Discussions revolved around enhancing ROI, strengthening brands, and building robust pipelines. We also dedicated significant attention to sustainability, diversity, equity, and inclusion, acknowledging their growing importance in the marketing landscape. Underlying all discussions was the transformative potential of AI in marketing. We explored how AI is revolutionizing the game for marketers and how its ongoing evolution will continue to impact all of us in the industry. While on the topic of AI and moving to product updates, we've started bringing AI offerings to market. Salesforce+ incorporated Kaltura-powered AI enrichment services for content repurposing in alignment with our AI-forward Einstein focus, particularly for events. Salesforce leveraged Kaltura AI to create automatic summaries and key takeaways for over 300 Dreamforce sessions, providing great value to attendees and saving their marketers and event organizers countless hours. In addition, another leading Silicon Valley technology company went live this quarter with a pilot program that utilizes Kaltura-powered generative AI tools to rapidly produce on-the-fly, highly targeted, short-form video content and automatically publish it across many distribution channels. This quarter, Kaltura also released an AI assistant that streamlines the process of setting up webinars, providing users with intelligent suggestions and automated actions to increase the efficacy of event management. Soon, we plan to expand the AI assistant to provide insights and suggested actions to organizers and presenters during webinars and other events, from recommending audience engagement strategies to providing real-time performance metrics. We believe this assistant will be a valuable tool for optimizing the event experience and maximizing the impact of each session. We also added an AI-powered chatbot to our media and telecom cloud TV offering. Our new Kaltura TV Genie now engages TV viewers with tailored content suggestions. Lastly, on AI, we kicked off in the past quarter a Kaltura AI accelerator program with the goal of integrating the best Gen AI third-party technologies with our open and flexible platform. We are already engaged with 15 pioneering Gen AI startups that specialize in diverse fields such as video creation, editing, repurposing, and analysis. Over 10 large Kaltura customers across various industries have shown interest in these solutions for their specific use case and needs. We are excited about the great opportunity that the AI accelerator program can bring to our customers and to the wider tech ecosystem. Beyond AI, during the quarter, on the EE&T front, product front, we introduced more event platforms features aimed at enhancing engagement and ROI. These include a new dashboard for session analytics, interactive quick polls, improved recording management, and deeper integration with our video portal. We also added a connector to Salesforce CRM, a new HubSpot integration, and a theme editor for customization. On the M&T product front, we integrated new ad-supported FAST channels and server-side ad insertion capabilities designed to allow us to broaden the target segment of our Kaltura streaming platform to media companies who want to syndicate their content to third-party platforms like LG, Samsung, Amazon Prime, and Roku. Before I summarize and hand the call over to Yaron, I would like to briefly comment on the recent escalation in the Middle East. Kaltura is a U.S.-domiciled company that operates in many countries, including Israel, where we have a sizable presence. We are heartbroken, and our thoughts and prayers go out to our Israeli Kalturians and their families, and to everyone else that has been impacted. Approximately 10% of our Israel-based workforce, which is approximately 5% of our global workforce, has been called up for reserve duty, and we are prioritizing and allocating resources between projects to mitigate any impact to our business. To date, we've not seen any disruption to our ability to deliver products and services to our customers. In summary, in the Q3, we achieved an important milestone in our journey back to profitability, posting both positive adjusted EBITDA and positive cash flow from operations. Given the quarterly results, we are slightly increasing our subscription and total revenue guidance for the full year. While top of the sales funnel KPIs, like the number of new qualified leads, grew sequentially, underscoring the interest in Kaltura's comprehensive offerings, the industry headwinds we have been discussing in recent quarters have continued to weigh down on both new deals and renewals. Lower budgets, increased price pressure, and elongated sales cycles have kept new bookings relatively flat throughout this year and have ticked down gross retention levels. As a result, we continue to forecast the combined impact will create a headwind to revenue in the Q4, which is reflected in our guidance. We are raising our adjusted EBITDA guidance for the full year, setting the middle of the range at -$4.3 million, compared with -$28.3 million in 2022. We're also restating again our expectation of posting a positive adjusted EBITDA in 2024. And lastly, we are reaffirming once again our expectation to achieve positive cash flow from operations for the H2 of 2023. This translates into a maximum forecasted annual cash consumption from operations of $11.5 million, compared with $46.8 million in 2022. We're also reaffirming that following the typical seasonal greater cash losses in the H1 of next year, we expect to arrive at cash flow from operations break even by the H2 of 2024, with sufficient cash reserves. With that, I'll turn it over to Yaron, our CFO, to discuss our financial results in more detail. Yaron? Thank you, Ron, and good morning, everyone. As I review the Q3 results today, please note that I will be referring to a non-GAAP metric, Adjusted EBITDA. A reconciliation of GAAP and non-GAAP financials is included in today's earnings release, which is available on our website at www.investor.kaltura.com. Total revenue for the Q3 ended September 30, 2023, was $43.5 million, up 6% year-over-year. Subscription revenue was $40.8 million, up 8% year-over-year, while professional services revenue contributed $2.7 million, down 14% year-over-year. The remaining performance obligations were $164 million, down 3% year-over-year, of which we expect to recognize 59% as revenue over the next twelve months. Annualized recurring revenue was $163.1 million, up 7% year-over-year. Our net dollar retention rate was 101% in the Q3, compared with 96% in Q3 2022. Within our EE&T segment, total revenue for the Q3 was $31.1 million, up 3% year-over-year. Subscription revenue was $30 million, up 5% year-over-year, while professional services revenue contributed $1.1 million, down 24% year-over-year. Within our M&T segment, total revenue for the Q3 was $12.4 million, representing 13% year-over-year growth. Subscription revenue was $10.8 million, up 17% year-over-year, while professional services revenue contributed $1.6 million, down 6% year-over-year. GAAP gross profit for the quarter was $27.7 million, representing a gross margin of 64%. Within our EE&T segment, gross profit for the Q3 was $22.8 million, representing a gross margin of 73%, up from 71% gross margin in Q3 2022. With our M&T segment, gross profits for the Q3 was $4.9 million, representing a gross margin of 40%, down from 47% gross margin in Q3 2022. GAAP net loss for the quarter was $8.3 million, or $0.08 per diluted share. Adjusted EBITDA for the quarter was positive $0.3 million, improving from a negative $7.2 million in Q3 2022. Turning to the balance sheet and cash flow. We ended the quarter with $71.1 million in cash and marketable securities. Net cash provided by operating activity was $1.7 million in the quarter, compared to $1.1 million provided in Q3 2022. I would now like to turn to our outlook for the Q4 of 2023 and for the fiscal year ending December 31, 2023. In the Q4, we expect subscription revenue to be between 3% decline to 1% growth, to between $38.4 million and $39.8 million, and total revenue to decrease by 7% to 4% to between $40.8 million and $42.3 million. We expect negative adjusted EBITDA to be between $0.6 million and $1.1 million. For the full year, we expect subscription revenue to grow by 5%-6% to between $160.3 million and $161.7 million, and total revenue to grow by about 2% to between $171.5 million and $173 million. We expect for the full year, a negative Adjusted EBITDA to be between $4 million and $4.5 million. In summary, despite the macro environment and our industry headwinds, we are slightly improving in our total revenue, subscription revenue, and Adjusted EBITDA guidance for the rest of the year and reaffirming our forecast to achieving a positive cash flow from operation for the H2 of 2023. Lastly, we are reaffirming our expectation to a positive Adjusted EBITDA in 2024, and to achieving a cash flow from operations breakeven by the H2 of 2024, with sufficient cash reserves independent of our top-line growth. With that, we will open the call to questions. Operator? Yes, thank you. At this time, we will begin the question and answer session. To ask a question, you may press star then one on your touchtone phone. If you are using a speakerphone, please pick up your handset before pressing the keys. To withdraw your question, please press star then two. At this time, we will pause momentarily to assemble the roster. The first question comes from Gabriela Borges with Goldman Sachs. Thanks for taking my question. This is Jake Teitelman on for Gabriela. Our thoughts are with you and all the Kaltura employees on the ground in Israel. On subscription revenue, which has grown sequentially for the last Q4, what has changed in the macro environment that's resulting in the negative sequential growth guide for the Q4? Thank you, Jake, and appreciate your comments about Israel. Nothing has changed. By the way, we've said last quarter that that was expected to happen, and that's because of the bookings versus gross retention in the last couple of quarters already, so that continued. You can see that the general direction is not very different than we had said last quarter. But let me give you a bit more insight around where business was and is, to give you a bit more background around where we feel things are. So first- ... In this quarter, most contribution came from upsells versus new logos, and was still headed by enterprise and also headed by North America. You could see there's a bit more heat on the European side, but we have financial pressure. There's continued increase in demand for our event platform and especially our external marketing use cases. Now, that's something that's not new. Again, we've been discussing this in recent years as we've moved from internal to also external. And earlier, we referred to a seven-digit deal with a new customer that's one of the largest investment firms in the world, and they moved to us from a competitor to power all their marketing, communication, and events. We're getting a lot more of that, so that continues. We also get the MNC companies consolidate around Kaltura, and so you're seeing both internal and external cases, which is unique for us. Half of our RFPs that we responded this quarter were combined, internal and external, and the ARPU continues to grow. We also mentioned earlier about another seven-digit deal with an existing Fortune 500 tech company that signed with us, and they expanded from external into internal. Sometimes it's the other way around, and they grew their account to 2.5x the initial value, and that's also typical. Win rates continue to be high this quarter, by the way, higher than all quarters last year. The change isn't the% of deals that we win versus lose, but again, how many actually make it to the final process? We also had a higher percent of booking this quarter compared to usual from channels. It's generally been choppy. Now it's deep into the double digit, and we had 2 quite large channel drop competitors and start working with us this quarter, and we expect it to impact future quarters as well. We saw less percent booking from professional services. We know that that's continued to pressure our PS revenue down, which is not amazing for the short term, but good for the mid to long term. It increases our TAM, accelerating our sales deployment cycle. It does well to gross margin, so that's good. We're still seeing good top-of-the-funnel signs. I mentioned a number of new SQLs in the quarter that grew sequentially, and also SDR meetings are generally low in Q3 because of the summer, but it was better year-over-year. So all these are the good signs. To your question about the dip, we're still seeing the industry headwinds. We reported on that—you know, earlier in the year. Still longer sales cycles, still reduced budgets, still price pressures. That means that deals get delayed again. The result is kind of a flattish new booking this quarter compared to Q1 and Q2, and it's at lower levels than last year, about 25% less. So bookings are a bit lower. I would note, though, that the productivity isn't lower. We have now two-thirds of the salespeople than we had a year ago, so if bookings are less by 25%, but we have, you know, two-thirds of the salespeople, that means that on average, we're actually selling better per salesperson. And so that's, you know, the combination of that, we could talk later about retention, has pushed us a bit down. But, you know, we believe that the macro conditions are going to start improving, the headwinds are going to settle down. Productivity is expected to go up, and generally speaking, we, based on existing business, already see that that compression that we're seeing in Q4 is not expected to continue to Q1. That's based on already deals that are in pocket. So that's a lengthy answer, but it gives you a feel for where the business is. Does that address your question? Absolutely. Thanks, that's super helpful color. And then maybe one for Yaron, and I realize that you're not gonna provide, you know, 2024 guidance on this call, but if we look at the exit rate that's implied for Q4, how should we think about like, planning for 2024 numbers at this point? Yeah, thank you for the question. The one important comment, as Ron mentioned, that first of all, the decline that we projected, and we projected it before in Q4 revenue, we don't see it continuing to Q1 2024. So it's definitely changed direction. The way that you should look on 2024 is that, at this point, we see that the subscription revenue will continue to grow. It's too early to give you the exact number and the, the nu-- the rate that it's continued to grow, but at the same time, we will continue to see decline in the professional services revenue. So net-net, we still want to close the quarter. We want to see the trends in terms of booking and retention rate. But, to make a long story short, we see the subscription revenue continue to grow into next year and probably some more pressure that we saw before on the professional services. Thank you, and good luck. Thank you. Thank you. The next question comes from Ryan Koontz with Needham & Company. Thanks for the question. On your AI developments, Ron, can you kind of walk us through some of your strategy there on, you know, build versus buy? You know, are you partnering for some of these? You know, I'm certainly enthused about the kind of new ecosystem partners you're bringing to bear, but on the new AI features you're rolling out, can you walk us through, you know, how much of that you're sourcing internally versus partnering? Thanks. Sure. Happy to do that, Ryan. So yeah, we said that in the last couple of quarters, that AI is definitely an important direction for us. You know, part of the benefit of Kaltura is that we have almost all the layered cake, and the AI would complete it because we are running workflow integration deep into the workflows, and we have the metadata, so the data itself is owned by us or managed by us on behalf of the customers. And then if you add on top of that, the AI, we also own the last layer, which is the engagement layer, because we're a system of engagement. So if you have the integration all the way to the workflow together with the data that could be prompted into the AI and then used immediately into the engagement, then you have yourself a full loop. The vision that we set from the beginning is that we have several levels of work that we want to do. You know, some things are going to be around video, but not immediately touching video. So things like, you know, summarization of texts pertaining to videos or help around preparation or execution of a virtual event around lead management or messaging or speaker lists or recommendations. So things like this could be actually used off the shelf with existing APIs that are out there for ChatGPT and otherwise. The things that are more exciting for us that we want to either own by way of building from our existing people and/or maybe even M&A type activities, that we're looking at options or whatever, are things pertaining to compressing the breadth of different providers around creation and consumption and distribution of video. Historically, and I said that last time, there's been different technology vendors that were addressing the creation of video, the production of video, the post-production of video, to those that were dealing with the distribution and engagement. And we see the future as one system that creates the videos, distributes them, meaning that you could have highly personalized, highly interactive videos that are made on the fly to cater to a specific context and specific users, and then adapting on the way in order to maximize ROI, whether it is training or marketing. So this is a big focus for us as we go forward. Right now, what we've launched, and we mentioned a leading Silicon Valley company that's launched with us, that was around the short-form content distribution together with, you know, repurposing of the content in order to address specific needs. So now that's done in an automated way. And the other one that we mentioned was done with Salesforce at their event at Dreamforce, which was also successful. So it's already starting to hit. We also mentioned that we are working with a lot of ecosystem partners. As mentioned, we have some 15 already that are working with us, and there's many other customers, many customers, already 10, that are formally there and others that are joining and added into that, that are looking to consume these services. A big advantage of Kaltura, given what I said earlier about APIs and workflows, is that we're open and flexible, and we could easily insert third-party innovation coming from other companies. We've done that across our history. We have 120 different technology partners for the company at large beyond AI, and we expect to do the same here for AI. So a lot of plans, and we're gonna share them as we advance. For both, EMP and M&T, we also mentioned some M&T applications that we have running. That's great, Ron. Thank you for that color. On your large deals, your 6- and 7-figure new deals you announced, any general trend there in terms of, you know, are these typically still displacements of multiple vendors you're going into, or are some of them kind of new use cases for your customer base? Thanks. Combination of both. So, it's either... So we mentioned one of them, for example, an existing bank that we have. It's an existing use case that we power, but they continue to grow organically. The specific bank that we're discussing, it is a wealth management use case. If you recall, in that specific bank in the past, we've discussed was one we started internally with a video portal for training and knowledge sharing, and then had moved to webcasting, and then it moved to external use, and ultimately, had moved into video for wealth management, where our tools enable a secure distribution and creation and distribution of content for wealth managers, for their customers in a mission-critical way, connected to all the compliance and security and approvals that are required in such a situation. In this specific piece, by the way, that customer had grown 10x in recent years and are deep, deep into the seven-digit figure as a bank, and it started with six-digit as an initial deal. Not only are we adding use cases, but they're adding users and adding departments, and so it continues to grow and grow. In a different example, which we've mentioned, it was the expansion from external into internal use case, where we started with events less than a year ago as a new customer, and now they had moved into their internal, quote-unquote, "TV" for internal learning and collaboration. By the way, that customer is now in discussion with us around a very large deal to move all of their marketing use case to Kaltura, which could be another very large seven-digit deal, of which by... As an example, budget pertaining, they already said, "Look, we wanted to do this in Q4, but we're rolling this into next year because of budgetary reasons. But we've already selected Kaltura. We believe you're the right partner. We'd like to do it with you, but budget-wise, it's going to need to wait a bit longer to get the budget." And so this keeps on being the story. We enter from the window, we exit from the door, or the other way around. It's either internal goes external, external goes internal, but the ARPU continues to climb, and the land and expand has continued to do very well for us. That's really helpful, Ron, and best regards to everyone there at the company. Thank you, Ron. I I appreciate it. Thank you. The next question comes from Patrick Walravens with JMP Securities. Please go ahead, Mr. Walravens. Your line is live. Thank you. Let me add my thoughts and prayers, Ron, to you, your families, and everyone. So number one, why is subscription revenue, and I know you answered it, but just very, very clearly for us. Why is subscription revenue going down from Q3 to Q4 by $1-$1.5 million? So I, I mentioned half of it, right? And I said bookings are flattish compared to last year and at about a 25% less. The other piece of it is retention, right? And I said last quarter, that it went down, and we expect it to continue to go down because we also said that, we had that large deal that we announced that came in after the end of the quarter, but we mentioned it last time for the RPO change, and it hit this quarter, Q3. So we had another quarter of lower gross retention rates than usual, in part because of that large single customer. Now, annual gross retention rate in general is down by a few percentage points from the high 80s% to the mid-80s%. It's still decent, but it's not as good as it was before. By the way, ENT had lower gross retention rates this quarter than MNT, and in ENT, half of the churn, very similar to last time, was reduction and not full churn. So it's not customers completely leaving us, but spending less. Less than 10% of that reduction was because of product or services gap, and the rest is budget, price-related, services that are no longer needed. So net, net, what we're seeing is lesser gross retention and lesser, new bookings, which are and have, for this specific quarter, ended up with a negative impact on subscription revenue. Now, we're expecting and have expected this because we've seen that come towards Q2 and already saw what's going to happen in Q4. But likewise, we could already see what's expected to happen in Q1, where we're seeing this balance given the different numbers that we're seeing. The question is for next year, right? You know, is the gross retention going to tick up again, and is the bookings gonna, you know, go up again? I already mentioned earlier, the productivity is higher than last year because we've also released some of the people, and it's really a question of, are we seeing better quarters? There's some upside in Q4. We're seeing a lot of interesting demand. There's some interesting deals. We're very cautious, and obviously, we don't forecast bookings. We forecast revenue. But by the end of Q4, we'll be in a position to tell you what's happening to booking. You know, we have some reasons to be cautiously optimistic about Q4 maybe being different, but let's wait and see. Okay. And, I mean, under what circumstances would you say, "Okay, this is, you know, time to consider our strategic alternatives and, and consider selling the company? I think it's always been a reasonable, legitimate option like it is for any single company on earth. I don't know that we've ever said that we're not or that we are. Our responsibility is to take care of our shareholders, and we listen to them closely, and we've been in touch and continue to be in touch with different players. If and when an offer that makes sense would come our way, then we will reconsider it. But this has never been a yes versus no. It's always been devil in the detail, in the right time, in the right place, a deal could happen. We said that the same answer I've said time and time again, by the way. Yeah. Okay, and then lastly, on a positive note, I really- I do wanna just mention one thing in macro, because it's easy to kind of... The whole industry right now is where it's at. You can listen to all the other players in the industry, three of which have already reported. What you're hearing here is not different. We're looking at a situation where there's some headwinds that are continuing by way of demand and by retention and pressures. This is happening to everybody. I must admit that most of the other folks out there that are public, and we see their numbers, have been declining aggressively this year. We're not. And so we're not as at a place that the others are. Is this a great year for us? Definitely is it. Is there a lot more to hope for? Yes. Are we meeting the numbers that we've set at the beginning of the year? We are. We're doing better than the numbers, both on Adjusted EBITDA and revenue, and so the direction is as guided for the year, but we're hoping that next year is going to pull up. We need to wait patiently like all the other folks in our industry, and like I said, we do see top of the funnel activity that looks good, and we do see continued strategic interest in moving to Kaltura. We hear a lot of folks talking about moving to Kaltura when things are better, because when you talk about consolidation and the interest of one single platform for everything, a lot of them are saying, "Listen, for the immediate short term, it's an investment that we don't want to make, but for the mid to long term, it's a savings that we want to have, and it's a better product that we want to have." And so we keep on hearing this. The question is: When are they going to click on it? And again, we're doing better than the other folks, but I think that when things turn around for the industry, we're going to continue to be on top, and that's going to mean, I think it's going to mean decent returns that we've not seen over the last couple of years, for sure. Not us, nor the industry. Sorry, Pat, just muted that. Go ahead. That's fine. Thank you very much. Thank you. The next question comes from Michael Turits with Wells Fargo. Hey, this is Austin Williams on for Michael Turits. Just wanted to ask on the EBITDA breakeven target. It's good to hear that that's restated for next year. But looking into 2024, where are you expecting the biggest areas of operating leverage to emerge? Anyone want to take this? Yes. First of all, the one comment that I made in my statement is that this trend of getting back to a positive bottom line, Adjusted EBITDA-wise, is going to happen any way that the revenue will develop into next year. We said all along that, at least for the short term, the gross margin will continue to be in the low-to-mid 60s, and I think it's a very solid statement right now. In the long term, it's definitely going to go more to the 70%. If we will be able to do it already next year, I'm not sure, but we are doing some major efforts around production cost and around a major agreement that we signed with one of our cloud providers, which give us much better unit economics. At the same time, we believe that, in terms of our expense base, we don't need to increase significantly our sales and marketing and our R&D in order to push revenue and to start the reacceleration of the revenue. So bottom line, keep the gross margin as it is right now, keep the rest of the balance sheet, the expenses around the same levels, and get back to growth next year. It will enable us at least to be in a positive territory going into the beginning of the year. Okay, got it. And I also wanted to ask on the new AI assistant and some of the new AI features. What are you expecting this to open up from a monetization perspective, and how is this changing the expansion discussion with customers? Thank you. Sure, I'll take this one. Thanks for the question. It's early to say for us and for everybody. We do know that a residual effect of this is a dramatically greater amount of videos that are created and consumed, and a higher ROI for wherever the videos are used. Will the immediate value come from a higher subscription for this feature, or will it come from the greater use of the platform? That's a question. If you ask me, I expect it'll be more the latter than the first, but it's still early days around that to be able to provide a clear enough answer. At this point of time, we're still in initial deployment time, but the focus is on creating value as opposed to optimizing and maximizing revenue. I believe that over the next few quarters, that'll take shape, and then we'll be able to provide you a good answer. By the way, this is the same answer for every single company in our ecosystem. It's still too early. Okay. Thank you. The next question comes from George Iwanyc with Oppenheimer. Thank you for taking my question. Ron, maybe following up on your comments about the sales productivity progress you're seeing. Can you give us some perspective on the lower touch parts of the platform that you've put in place and, you know, the traction you're seeing there? Yeah, I'm happy to do that. Look, we said that throughout the year that this is not the bigger focus, especially given our need to focus on the different aspects of the business, especially in a year like this. Now, you know, we've improved our messaging framework and updated it in order to have better flow around webinars. Self-service has grown by about 180% quarter-over-quarter, in part, by the way, we've inserted AI into that. And we've also seen that the number of webinars that are created on the platform have increased 100% month-over-month. And so the KPIs that we're currently looking on are more adoption, user conversion, that are not yet revenue KPIs for this year, and we said that throughout the entire year. I expect that next year, at a certain point, we'll be able to point on it, but I was clear as the year went by, we said, you know, the number one revenue generator for our company had been the higher touch, larger enterprise deals. And in between the different verticals, between enterprise, education, media, and telecom, it had been enterprise. In a year like this, you know, where everybody's required to focus more, not less, this is the number one place that we put most of our effort to complete this significant expansion into real-time conferencing and into the new products being the event platform, the webinars for larger companies, and the virtual classroom, as well as the move to a new buyer, from a CIO into a CMO for smaller companies, from very large into a bit lower touch into SMBs, and even applying more distribution channels, as I mentioned, are working on. So that took a first step, more so than doing the complete self-serve credit card, small, small company type of a sale. But, you know, we are advancing, and we are seeing better and better results, and I do expect that the cavalry will arrive and that will become an increasing part of our revenue in the years to come. It's just not an immediate impact, and it was never forecasted to be, even before things turn around a bit for the year. All right, thank you for that. And then, Yaron, maybe just a question for you. With this ability that you saw on the net expansion rate this quarter, what are your assumptions and guidance, and what type of visibility do you have into the early part of next year from an expansion perspective? Yeah, as Ron and myself mentioned before, we do see a very solid scenario that the trend of decline revenue in Q4 not going to go with us into next year. Too early to see what's going to be the trend in terms of getting back to reacceleration, but it's definitely based on the deals that we already closed in the last Q3 and the beginning of Q4. We see that the trend of declining revenue in Q4, which by the way, we focused it from the beginning of the year almost, when we gave the guidance, is not going to continue into next year. It's too early to say when it's going to rebound back and start to reaccelerate again. We have to close the quarter to see to get a better visibility in terms of the booking, and hopefully we'll be able to deliver better numbers going into next year. Let me add a comment about NDR for a second. You know, this quarter, we're still aligned with the general direction that we set it for the year, and we still forecast the year to be at around 100% NDR for the year, which is what throughout the year we kind of said it's gonna be. It could, given what we just said about gross retentions and where they are in the last couple of quarters, is expected to dip a bit for Q4 before gradually starting to turn back again. It's not gonna be lower than earlier numbers posted by us. So there's nothing extra dramatic in the dip. But given the gross retention situation this year, which I mentioned earlier, it will dip a bit lower, but we made it 100% for the year, and we expect it to be 100%, hopefully, plus for next year. Thank you. Thank you. And once again, please press star, then one if you would like to ask a question. And the next question comes from Matthew Niknam with Deutsche Bank. Hey, guys. Thank you for taking the question. Just one for me. On the competitive backdrop, can you just talk about what you're seeing there, whether there's been any change in dynamics over the last quarter, and if that's a factor that may be weighing, in addition to macro, on some of the bookings or gross retention trends? Thanks. Yeah, thanks for the good question. The answer is no, it's not weighing because our win rate does not come down, and it's at a very high number that's higher than last year and higher than most years. So it's not that we're losing accounts to our competitors more so than ever before, and we're not seeing any player that's coming in and taking significant deals from us. And even from the gross retention statement that I said earlier, by and large, most of them are reductions, as I said earlier, as opposed to full-on departures. And when they are a reduction, it's just because they have less money and/or are pressuring to have a bit lower price and doing less. On the contrary, what we're seeing is takeaways from competitors. I mentioned earlier, you know, one of the big financial services is yet another big takeaway from a competitor around the webinar/external/marketing use case that, you know, as far back as a year ago, we weren't able to do at all. This is an expansion for our product, and we're able now to take away. It adds up to a few other big customers that we've taken from that particular competitor, and we expect to have many more because, again, we're just entering the pearly gates of being able to do that we weren't able to do before. So no, we're, we're not seeing any of the competitors out there win more business compared to us. We're just seeing a general, you know, pressures of the industry that are causing everybody to be a bit slower. That's all. Very helpful. Thanks, Ron. Thank you. Thank you. This concludes the question and answer session. I will let you turn it over to Ron Yekutiel for any closing comments. Yeah, I wanna thank you all for your questions and also for those that have commented on the situation in Israel. You know, we also are heartbroken and send our big hugs to all the Kalturians that are working there. But we are a global company and plowing forward and doing well. I'd say from a macro perspective, again, there's a lot of discussions here about the industry headwinds. I think by and large, we're delivering on the numbers that we've committed to at the beginning of the year. We've achieved Adjusted EBITDA earlier, positive earlier than said and cash flow positive, and we are seeing a lot of top of the funnel trends that are taking us to the right direction. I think we have place for some hopeful good news around Q4 bookings, and the general direction for next year hasn't changed for us. So we're looking forward to what's to come. I wanna thank you again for your continued support, and have a great remainder of the week. Take care. Bye-bye. Thank you. The conference has now concluded. Thank you for attending today's presentation, You may now disconnect your lines.