“Expectation is that our Q4 renewal will be on par. We had a 98% renewal rate in Q3. We expect similar levels in Q4, and so feel very good about the pace of renewals for the remainder of the year.”

In context

“Gina Mastantuono (Chief Financial Officer): So I talked about the fact that one of the reasons why our cRPO beat in Q3 was related to 50 basis points of pull-forwards of Q4 renewals into Q3. And if you remember, on prior calls, I talked about the fact that this Q4 was a large renewal cohort because the fact that we were able to get some of them done early absolutely helped drive the RPO but also ramped our revenue beat as well. Expectation is that our Q4 renewal will be on par. We had a 98% renewal rate in Q3. We expect similar levels in Q4, and so feel very good about the pace of renewals for the remainder of the year.”