Samad Samana

update us on what the backdrop looks like in terms of deal cycles just looks like? And then how are you thinking about just time to close

if you think about where the quarter shook out, how does that maybe compare to what you were thinking at the time of the Analyst Day

Help us think about distribution, though, and how much better is the sales organization at selling? And then how are you thinking about indirect distribution there

How much of that's from existing customers that are converting over to it versus gaining share from competitors

how should we think about maybe ADP's own hiring plans? Are you guys going to still track to maybe what you anticipated in terms of headcount growth

Are you seeing -- is this kind of a clear inflection now? Is it fair to say that

Is that going to be referrals between the two organizations? Is there co-development on the product

what was the evolutionary or revolutionary moment that led to the rebranding now

Any signal in that, that we should take whether that's the company willing to be more acquisitive

what are the top 1 or 2 near-term priorities is it integrating the M&A? Is it driving adoption of the AI business?

What have NRR trends look like maybe to the first quarter, just as we as we reconcile that incremental

should we take that as maybe we won't see Armis-sized deals going forward? Or just maybe help us get some clarity on how we should think about the M&A in 2026.

how should we think about the prudence that you factored in? Is it different from what you were thinking, let's call it, 90 days ago?

are you seeing that the broader sales organization and the partner base that Kash just mentioned is getting better at selling the AI solutions and it's being less of a top-down driven sale?

is the framework still going to be as you do larger deals to still rewrite them into the code base, or is there any change in maybe the not just the size or scale of M&A, but the approach

I'm just curious if we've been getting feedback from either early customers or those that were in the pipeline that there is a budget constraint or a tough decision as being having to be made, and ...

What have you observed from the early cohorts of customers. How many ended up getting into a level where it required the consumptive element? And maybe just help us think about how that will impact...

Can you remind us what the kind of vertical exposure inside of the PEO business is broadly speaking versus, let us call it, white collar, blue collar?

You had mentioned recently that maybe the initial land per client was a little bit smaller than historical or fewer add-on modules at the point of sale. I am curious if you have seen that trend cha...

is it the underlying variables in the model that made you think the lower end is better for us or is it more about to be at because of what you're seeing in the business?

in terms of pricing inside the install base on renewals, are you seeing any either is it kind of a similar consistent pricing environment

it gets you to somewhere close to about 4% organic growth for the Management Solutions revenue in the quarter. Which, you know, again, it's a slightly easier comp.

the 12% to 13% contribution for fiscal '26 implies kind of around $700 million at the midpoint for Management Solutions contribution. And then if I think about what Paycor was on track to do in ter...

any insights you can provide on maybe what percentage of Paycor's sales and marketing organization you guys were able to retain versus are you thinking more about hiring on that side?

was there anything from a if I exclude the acquisition-related expenses, one percent growth is pretty low. Obviously, it's a big reflection of the productivity of the organization

if we think about the implied management solutions growth rate, for F4Q excluding Paycor is that a fair way to think about what the starting point for growth for management solutions should be for ...

could you just remind us how the monetization works there? And what type of contribution you've embedded into the fiscal '25 outlook?

what you saw in this most recent quarter from a discounting perspective and the need, the frequency and magnitude that you're having to discount

Can you just help us understand that if a Shopify merchant has these alternative channels where they're checking out, how the monetization still works and if the economics change?

do you have any ability to map where they're currently sourcing from and how much through tariff exposure that they have?