Stephen Schneider

Well, so, so, so I'll answer your question, but I'm going to argue with you on the first one.

Look at Domo.

Domo is a competitor in our space that raised, I think, $600 million, um, went public and

And is trading, last I checked, less than that.

And they certainly went public for a net loss for their investors.

So you look at companies like Burst that raised a ton of money and then ultimately imploded.

I would argue, I think if you go up and add it, you'd find that the ones you hear about are the ones that do really well and the ones that don't are the ones you don't hear about.

But let me answer your second question because we could get into that topic for a long time.

So how do we compete with them?

We compete with them by being smart, knowing our use case.

Our use case is to focus on product managers and application teams.

And our focus and our win theme is around the ability to embed so deeply within their application that no one knows that it's us as part of their application.

We want to deliver the best engaging product experience.

And we're the only company of scale that focuses on that use case.

Most of our competitors in the space go after direct use cases, go after wide industries.

They go after any kind of operational type improvement use case they can.

We're the only ones out there that really focus in on the product managers and application teams and how do you embed it within an application.

And that requires a different product stack, it requires a different licensing model, it requires a different go-to-market.

Well, so keep in mind that is true if you had a SaaS model with reoccurring business.

Again, remember, until two years ago, much of our business was perpetual.