Question-and-Answer Session
Operator
(Operator instructions) Your first question comes from the line of Steven DeLuca with Spinner Asset.
Steven DeLuca – Spinner Asset
Hi, actually my first question is for Kenneth, if he is still on the line, can you tell us what – a little more details around on your comment of time for a change means?
Ken Coleman
As I indicated earlier, Mark resigned after Mark and the board mutually agreed upon that really [ph] it was time for a new leadership change. Mark had done a tremendous job during this tenure in turning the company around, and the board is now on focus on finding a CEO that will create long-term sustainable growth.
Steven DeLuca – Spinner Asset
Okay.
Operator
And your next question comes from the line of Chad Bennett with Northland Securities.
Chad Bennett – Northland Securities
Yes, hi. Couple of questions, first Rick or Todd for that matter, the – you talked about the impact, foreign currency impact on deferred revenue and orders in the quarter were there – was there any impact from deals that were signed but had kind of different contract terms or unusual contract terms where you were not able to recognize the bookings, so to speak, in the deferred line?
Rick Russo
No actually, Chad, this quarter we were pretty clean at least from any deals of significance that we would have had to defer into different periods. So it was a pretty clean quarter from that perspective. There are always small ones that get tied up with services and maybe get deferred but for the most part, we did not have problems in that area.
Chad Bennett – Northland Securities
Okay, and then you talked a little bit about the macro impact on the business and I guess is it safe to say, you know, it is impacting deal flow both on the model and sim and the platform side, is there any better – you gave some color but is there any better color into what the push back could be on the platform side and maybe on the modeling and sim, you know, what – you know, in a pretty large renewal of bookings quarter, kind of what were renewal rates on that side?
Todd Johnson
Yes, I don't think we will necessarily give you exact renewal rates, but I think one of the things that we saw at the end of last quarter is that the business was really affected in two different ways. We had direct impact by large pharmaceutical companies primarily and also biotech scaling back on the number of scientists that would be using modeling and simulation software. So a direct connection between layoffs and the tools that those engineers or scientists would be using. So that was a direct connection. I think on the platform side, we had cases where budgets look like it had been secured all the way right up until the very end of the quarter and orders just were not executed, where you get through 4 levels of signature and at the fifth level of signature it would get pushed into the following quarter. So, I think depending on the part of the business you are looking at the impact is different, and we are quite fortunate to be in a position where a lot of our customers are looking for ways to drive up productivity because most of them are going to have to get more work done with fewer people, and the Pipeline Pilot platform fits well within that agenda. But it still made the predictability the orders right at the very end of the quarter a challenge and we have yet to see how that would impact us this quarter.
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