“So our guidance is assuming that the Euro remains where it is for the balance of the year.”

In context

“Kevin Burns (CFO): To clarify, that was a question about Europe. I apologize for missing the region. I'm interested in the impact of foreign exchange and whether you might need to lower prices, which could pose a challenge to growth. So we operate in Europe. I would say 95% of our business is done in local currency or Euro, if not closer to 99%. So our guidance is assuming that the Euro remains where it is for the balance of the year. So we don’t expect to see any additional constant currency adjusted ARR guide, assuming currency stays flat. With respect to pricing and what’s happening there from an end-user standpoint, when we do renewals with our customers, we are actually looking to drive higher price increases, right? I appreciate the economy is tough right now, but the cost of everything is going up, and we are trying to pass some of that on to our end-users as well. So, historically, we have done sort of low single-digit price increases. We are trying to realize a higher percent price increase as we move the business forward. We are certainly seeing that from our vendors that we work with, and we think that’s the right thing to do through the business. So no specific additional price pressures over in Europe, and we are certainly trying to make sure that we increase prices appropriately to maintain margin over there.”