Derek Wood

And an investor sentiment is super skeptical right now.

I mean, we've always thought that 2026 will be the year of inflection in the software space around AI.

It takes a lot longer to go through sales cycles, new product development than some of the consumer stuff that we see taking off so quickly.

And so we're hoping that 2026 is going to be the year where a lot of these new products kick into new gear.

People get through proof of concept, move into production, start getting more comfortable with new pricing models.

And we're hoping that that is going to turn the corner on the sentiment for investors in the application software bucket.