The churn of N3 also has an impact on ARR numbers. You'd need to remove N3 from every previous quarter's numbers to get a proper comparison. Since it was LVT's decision to end the N3 partnership, the ARR from that deal can't really be counted as regular customer churn.
Smoothed out for FX changes over the past 3 quarters, this is what their ARR growth looks like.
ARR growth has certainly been a bit softer over the last couple of quarters, but given the current economic climate, this ARR growth looks pretty solid.
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