“So we are maintaining that $245 million of services revenue.”

In context

“Rodney Smith (Executive Vice President, Chief Financial Officer and Treasurer): And Eric, I would just add a couple of quick comments. One is on our services revenue. We have not reduced our outlook for services revenue. So we are maintaining that $245 million of services revenue. That is really underpinned by the broad base of services that we provide to our customers, which really include end-to-end solutions as well as continued strong contributions from our services and acquisitions in zoning and permitting. So that's pretty consistent. There has been a step down in '26 from 2025. But in '26, we are seeing a very consistent outlook over time. With that said, it is slightly front-end loaded. So we do expect a small step down in the back half of the year in services, but we are maintaining the $245 million of services revenue. And then I would just highlight what Steve says: in Europe, our European business is performing exceptionally well for us, solid mid-single-digit organic tenant billings growth. It has performed better than our original underwriting when we did the Telefonica transaction. And the key to that really is that it's a differentiated portfolio compared to other portfolios in Europe. And what that really means is that the counterparty and the way the customer contracts work offer steady mid-single-digit or better growth. We have very limited churn. There's not a lot of consolidation risk within our portfolio. We are covered on inflation and CPI with uncapped CPI, local CPI-based escalators. So it really is a very well performing, very stable, very much a differentiated portfolio than others you may see in Europe.”