“I think once we get through some of the supply chain stuff that we'll start to see that be a little more reflective of what we've been planning on.”

In context

“attish. There's two things that I would point out. We have -- we, obviously, have been transitioning from perpetual software model, which is in decline, and that's by design. We want to decline our perpetual software and increase our subscription software. And the way I think about it is, our perpetual was down roughly 14% during the quarter. And we also, as Scott said, have over $2 billion, and it's actually a higher number exiting Q4 than it was in Q3 of software in backlog, as you said, connected to hardware. So those are two contributing factors, which is why we really should be thinking about the ARR situation because that's reflective of the ACV that we basically had exiting the quarter. And it's -- so that's an indicator of future software revenue. So we're comfortable with it. And I think once we get through some of the supply chain stuff that we'll start to see that be a little more reflective of what we've been planning on. On the cloud vertical, we continue to win new insertions. That business is approaching 3 billion annually now after just two or three short years ago, it was pretty close to nothing. And so the teams have done a fantastic job. It is, obviously, over the last four quarters, it's grown 50%. From a revenue perspective, it's very supply chain dependent. So I wouldn't get too wrapped up about the revenue versus the orders right now. I think we'll work our way through that over the next four to five quarters. But overall, really pleased with where we are. Tim Long: Okay. Thank you. Marilyn Mora: Thanks Tim. Next question, please. Operator: Rod Hall with Goldman Sachs. You may go ahead, sir. Rod Hall: Yeah. Hey guys, thanks for the question. I guess, I wanted to dig into this order growth a litt”