Udemy Inc (UDMY) 2022 Q2 法說會逐字稿

完整原文

使用警語:中文譯文來源為 Google 翻譯,僅供參考,實際內容請以英文原文為主

  • Stacey Zolt Hara - SVP of Corporate Communications

    Stacey Zolt Hara - SVP of Corporate Communications

  • Thank you, and welcome to Udemy Second Quarter 2022 Earnings Conference Call. With me today are Gregg Coccari, Udemy's Chairman and Chief Executive Officer; and Sarah Blanchard, Udemy's Chief Financial Officer.

    謝謝,歡迎參加 Udemy 2022 年第二季度收益電話會議。今天和我在一起的是 Udemy 的董事長兼首席執行官 Gregg Coccari;和 Udemy 的首席財務官 Sarah Blanchard。

  • Before we begin, during this conference call, we will make forward-looking statements within the meaning of federal securities laws. These statements and assumptions and are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those discussed or anticipated. For a complete discussion of risks associated with these forward-looking statements, we encourage you to refer to our most recent Form 10-K and Form 10-Q filings with the Securities and Exchange Commission.

    在我們開始之前,在這次電話會議期間,我們將在聯邦證券法的意義上做出前瞻性陳述。這些陳述和假設受到已知和未知風險和不確定性的影響,這些風險和不確定性可能導致實際結果與討論或預期的結果大不相同。有關與這些前瞻性陳述相關的風險的完整討論,我們鼓勵您參考我們最近提交給證券交易委員會的 10-K 表格和 10-Q 表格。

  • Our forward-looking statements are based upon information currently available to us. We caution you to not place undue reliance on forward-looking statements, and we do not undertake and expressly disclaim any duty or obligation to update or alter our forward-looking statements, except as required by applicable law.

    我們的前瞻性陳述基於我們目前可獲得的信息。我們提醒您不要過分依賴前瞻性陳述,除適用法律要求外,我們不承擔並明確拒絕更新或更改我們的前瞻性陳述的任何義務或義務。

  • In addition, during this call, certain financial performance measures may be discussed that differ from comparable measures contained in our financial statements prepared in accordance with the U.S. generally accepted accounting principles referred to by the Securities and Exchange Commission as non-GAAP financial measures. We believe these non-GAAP financial measures assist management and investors in evaluating our performance and comparing period-to-period results of operations in a more meaningful and consistent manner, as discussed in greater detail in the supplemental schedules to our earnings release.

    此外,在本次電話會議期間,可能會討論某些財務業績衡量標準,這些衡量標準與我們根據美國公認會計原則編制的財務報表中包含的可比衡量標準不同,美國證券交易委員會將其稱為非公認會計原則財務衡量標準。我們認為,這些非公認會計原則財務措施有助於管理層和投資者以更有意義和一致的方式評估我們的業績並比較期間的經營業績,正如我們在收益發布的補充時間表中更詳細地討論的那樣。

  • A reconciliation of these non-GAAP measures to the most comparable GAAP financial measures is included in our earnings press release. These reconciliations together with additional supplemental information are available at the Investor Relations section of our website. A replay of today's call will also be posted on the website.

    這些非公認會計原則措施與最具可比性的公認會計原則財務措施的對賬包含在我們的收益新聞稿中。這些對賬以及其他補充信息可在我們網站的投資者關係部分獲得。今天電話會議的重播也將發佈在網站上。

  • I will now turn the call over to Gregg.

    我現在將把電話轉給 Gregg。

  • Gregg Andrew Coccari - Chairperson of the Board of Directors, President & CEO

    Gregg Andrew Coccari - Chairperson of the Board of Directors, President & CEO

  • Thank you, Stacey. Good afternoon, everyone, and thank you for joining us. Q2 was a very strong quarter for Udemy, continuing our momentum as the platform with exceptional breadth, depth and reach for learners and instructors around the world who seek to improve lives and business outcomes through learning.

    謝謝你,斯泰西。大家下午好,感謝您加入我們。對於 Udemy 來說,第二季度是一個非常強勁的季度,繼續保持我們作為平台的勢頭,為世界各地尋求通過學習改善生活和業務成果的學習者和教師提供卓越的廣度、深度和影響力。

  • In a changing labor market where highly skilled talent is both scarce and increasingly valuable, Udemy's platform for reskilling and upskilling has become mission-critical for businesses and individuals. The added tailwinds of hybrid and remote work as well as digital transformation are further driving Udemy's adoption. But what makes Udemy truly unique is the unsurpassed quality of our content. Learners come to Udemy because that's where they learn best. That's why we win.

    在不斷變化的勞動力市場中,高技能人才既稀缺又越來越有價值,Udemy 的技能再培訓和技能提昇平台已成為企業和個人的關鍵任務。混合和遠程工作以及數字化轉型的附加順風進一步推動了 Udemy 的採用。但是,使 Udemy 真正與眾不同的是我們內容的無與倫比的質量。學習者之所以來到 Udemy,是因為他們在那裡學習得最好。這就是我們獲勝的原因。

  • We hear this directly from learners. For example, we were thrilled in June with Stack Overflow's annual survey of nearly 30,000 developers around the world found that 2/3 of the responders selected Udemy as the most popular online course or certification program for learning how to code. This truly incredible result reminds us of why we do what we do, help people learn valuable skills like coding so they can advance their careers, explore new opportunities and ultimately change their lives.

    我們直接從學習者那裡聽到這一點。例如,6 月份 Stack Overflow 對全球近 30,000 名開發人員進行的年度調查發現,2/3 的受訪者選擇 Udemy 作為學習如何編碼的最受歡迎的在線課程或認證計劃,我們對此感到非常興奮。這個真正令人難以置信的結果讓我們想起了我們為什麼要做我們所做的事情,幫助人們學習編碼等有價值的技能,以便他們能夠提升自己的職業生涯、探索新的機會並最終改變他們的生活。

  • We saw a strong execution this quarter with revenues of $153 million, up 21% year-over-year. We delivered another quarter of outstanding Udemy business performance with year-over-year revenue up 77% and ARR of $316 million, up 74% year-over-year. We now have over 12,000 Udemy business customers. And for the first time, Udemy business revenue exceeded consumer revenue in June. As we've outlined on previous calls, our Udemy business learning platform has expanded beyond on-demand courses to also include additional learning methodologies to further engage the learner, help them interact with the instructor and their peers in practice and test their knowledge.

    我們在本季度看到了強勁的執行力,收入為 1.53 億美元,同比增長 21%。我們又實現了一個季度的出色 Udemy 業務表現,收入同比增長 77%,ARR 為 3.16 億美元,同比增長 74%。我們現在擁有超過 12,000 名 Udemy 企業客戶。並且在 6 月份,Udemy 的業務收入首次超過了消費者收入。正如我們在之前的電話會議中所概述的那樣,我們的 Udemy 商業學習平台已經擴展到按需課程之外,還包括其他學習方法,以進一步吸引學習者,幫助他們在實踐中與講師和同行互動並測試他們的知識。

  • During the quarter, we signed our largest deal in Udemy history, a multiyear existing customer renewal deal with a large global professional services firm, encompassing all 3 Udemy business learning methods. These included on-demand learning via our marketplace-driven curated course content, cohort-based learning via our core offering, and immersive learning via our Udemy Business Pro offering with labs, workspaces and assessments.

    在本季度,我們簽署了 Udemy 歷史上最大的一筆交易,這是與一家大型全球專業服務公司的多年現有客戶續訂協議,涵蓋了所有 3 種 Udemy 商業學習方法。其中包括通過我們以市場為導向的精選課程內容的按需學習,通過我們的核心產品基於隊列的學習,以及通過我們的 Udemy Business Pro 產品與實驗室、工作區和評估的沉浸式學習。

  • We also saw some early but encouraging signs of stabilization in our consumer business in Q2. After adjusting for FX impact, consumer revenue declined by 2% year-over-year in the quarter. As I look ahead to the second half of the year, several key drivers will help position us for further growth and expansion. First, our ability to grow at scale with a large market opportunity ahead of us as enterprises increasingly embrace upskilling and reskilling. Second, our expansion into larger enterprises as they tap into a broader set of Udemy's products and learning methods. And third, the customer-centric driven product innovation that we're delivering to individuals and organizations as we continue to invest in our marketplace to support our 71,000 instructors around the world and the nearly 5,000 new courses they produce every month on Udemy.

    我們還看到第二季度消費者業務出現了一些早期但令人鼓舞的穩定跡象。在調整外匯影響後,本季度消費者收入同比下降 2%。展望下半年,幾個關鍵驅動因素將有助於我們進一步增長和擴張。首先,隨著企業越來越多地接受技能提升和技能再培訓,我們有能力在巨大的市場機遇面前實現規模增長。其次,我們向更大的企業擴張,因為它們利用了更廣泛的 Udemy 產品和學習方法。第三,我們正在向個人和組織提供以客戶為中心的產品創新,因為我們將繼續投資於我們的市場,以支持我們在全球的 71,000 名講師以及他們每月在 Udemy 上製作的近 5,000 門新課程。

  • That said, we continue to see a more volatile and uncertain macroeconomic environment, which has already impacted our consumer business, as we've noted in previous quarters. While these are forces beyond our control, we believe that these macro factors will drive more organizations to prioritize cost-effective training, reskilling and upskilling of their workforces.

    也就是說,正如我們在前幾個季度所指出的那樣,我們繼續看到一個更加動盪和不確定的宏觀經濟環境,這已經影響了我們的消費業務。雖然這些是我們無法控制的力量,但我們相信這些宏觀因素將推動更多組織優先考慮具有成本效益的培訓、員工技能再培訓和技能提升。

  • Additionally, the current economic environment positions us well. We have a high and measurable ROI and are also rapidly deployable. Our strong employee engagement also demonstrates the immediate impact of our learning. We believe these factors promote a certain level of resilience and counter cyclicality in our business and will help us weather the coming months as organizations prioritize their spend.

    此外,當前的經濟環境使我們處於有利地位。我們擁有可衡量的高投資回報率,並且可以快速部署。我們強大的員工敬業度也證明了我們學習的直接影響。我們相信這些因素會在我們的業務中促進一定程度的彈性和反週期性,並將幫助我們度過未來幾個月,因為組織優先考慮他們的支出。

  • Let's dig in a little deeper into 3 of our key performance areas this quarter. First, I'll speak to Udemy Business, where we saw a very strong global and enterprise demand as well as solid go-to-market execution, and more importantly, significant ROI for our customers. Second, I'll discuss our ongoing work to promote a vibrant and healthy marketplace, including supporting our instructors. And third, I would detail the product innovation we are bringing to our customers and the workforces they support.

    讓我們更深入地了解本季度的 3 個關鍵績效領域。首先,我將與 Udemy Business 交談,在那裡我們看到了非常強勁的全球和企業需求以及穩健的上市執行,更重要的是,為我們的客戶帶來了顯著的投資回報率。其次,我將討論我們為促進充滿活力和健康的市場而正在進行的工作,包括支持我們的講師。第三,我將詳細介紹我們為客戶和他們支持的員工帶來的產品創新。

  • Let's start with the Udemy Business. Our record ARR of $316 million was up 74% year-over-year in Q2, driven by strength across all regions and multiple verticals, including professional services, technology and manufacturing. Our Udemy Business net dollar retention rate this quarter was 118% and as we continue to see success in growth in our land and expand strategy. We delivered 79% year-over-year growth in customers with over $100,000 in ARR and 60% year-over-year growth in customers that had over $1 million ARR, reflecting continued success in the enterprise.

    讓我們從 Udemy 業務開始。我們在第二季度創紀錄的 ARR 為 3.16 億美元,同比增長 74%,這得益於所有地區和多個垂直領域(包括專業服務、技術和製造)的實力。本季度我們的 Udemy Business 淨美元保留率為 118%,並且我們繼續看到我們的土地增長和擴張戰略取得成功。我們實現了 ARR 超過 100,000 美元的客戶同比增長 79%,ARR 超過 100 萬美元的客戶同比增長 60%,反映了企業的持續成功。

  • Multiyear deals now represent over 40% of total ARR, a strong signal of Udemy's mission-critical value with larger organizations. As I noted earlier, we signed our largest deal in company history in Q2. This record deal was a significant expansion with a global professional services company in a multiyear deal encompassing the full range of Udemy Business products: On-demand, Cohort and Immersive Learning. The deployment of both Cohort and Immersive Learning methods in tandem with On-demand learning demonstrates how tame serves as a learning partner with a comprehensive end-to-end learning platform that can be tailored to help achieve specific business goals. We're thrilled to work together with this customer to bring Udemy to even more employees in their organization.

    多年期交易現在佔總 ARR 的 40% 以上,這是 Udemy 對大型組織的關鍵任務價值的強烈信號。正如我之前提到的,我們在第二季度簽署了公司歷史上最大的一筆交易。這項創紀錄的交易是與一家全球專業服務公司在多年交易中的一次重大擴展,該交易涵蓋了 Udemy Business 的全系列產品:按需、隊列和沈浸式學習。隊列和沈浸式學習方法與按需學習相結合的部署展示了馴服如何作為學習合作夥伴,通過一個全面的端到端學習平台進行定制,以幫助實現特定的業務目標。我們很高興與該客戶合作,將 Udemy 帶給他們組織中的更多員工。

  • Just a couple of weeks after this deal closed, we signed our second largest deal in Udemy history, a competitive displacement and a multiyear deal with a large global services and consulting company who will deploy Udemy Learning to over 100,000 users, along with 25,000 Udemy Business Pro licenses. This company will use Udemy to help increase leadership, technology and data science skills across their organization with ample opportunity to scale even larger as they seek to deploy more Udemy learning methods, including cohort-based, tailored learning journeys to drive organizational change and leadership excellence.

    就在這筆交易完成幾週後,我們與一家大型全球服務和諮詢公司簽署了 Udemy 歷史上第二大交易、競爭性置換和多年期交易,該公司將向超過 100,000 名用戶和 25,000 名 Udemy Business 部署 Udemy Learning專業版許可證。該公司將使用 Udemy 幫助提高整個組織的領導力、技術和數據科學技能,並在他們尋求部署更多 Udemy 學習方法(包括基於群組的定制學習之旅)以推動組織變革和卓越領導力時,有充足的機會擴大規模.

  • Organizations are choosing Udemy Business because we show them tangible, measurable results. For example, Booz Allen Hamilton, a global firm providing world-class industry-leading expertise across industries, utilizes Udemy Business for their upskilling efforts. Using Udemy business to power a program for thousands of data scientists, nearly 94% of Booz Allen Hamilton learners are now highly proficient in data silence and their Udemy trained graduates now have a 93% employee retention rate.

    組織之所以選擇 Udemy Business,是因為我們向他們展示了切實、可衡量的結果。例如,Booz Allen Hamilton 是一家提供跨行業世界級行業領先專業知識的全球公司,它利用 Udemy Business 來提升他們的技能。使用 Udemy 業務為數千名數據科學家的計劃提供支持,近 94% 的 Booz Allen Hamilton 學習者現在非常精通數據靜默,他們經過 Udemy 培訓的畢業生現在擁有 93% 的員工保留率。

  • On top of that, Booz Allen has a 3% increase in consultant billability since beginning their work with Udemy business. These measurable results are why customers continue to expand and grow their footprint with us, especially with highly technical content like data science.

    最重要的是,自開始與 Udemy 業務合作以來,Booz Allen 的顧問計費能力增加了 3%。這些可衡量的結果是客戶繼續與我們一起擴大和擴大足蹟的原因,尤其是在數據科學等技術含量高的情況下。

  • Further proving out our land and expand model, other existing customers growing their Udemy offering this quarter include Colgate-Palmolive, lululemon athletica, Volkswagen Group China, TIBCO Software, Bosch Global Software Tech and Globant. And new customers this quarter include Broadridge Financial Solutions, Samsung SDS, Cision US, Edenred Brazil and Glanbia.

    進一步證明我們的土地和擴展模式,本季度增加 Udemy 產品的其他現有客戶包括高露潔棕欖、lululemon 體育、大眾汽車集團中國、TIBCO 軟件、博世全球軟件技術和 Globant。本季度的新客戶包括 Broadridge Financial Solutions、三星 SDS、Cision US、Edenred Brazil 和 Glanbia。

  • We continue to see strong uptick internationally across multiple regions, including APAC, where through our partner, Benesse, we support the Tokyo metropolitan government in their efforts to accelerate the digital transformation of small- and medium-sized enterprises in Tokyo. By the end of March 2023, Udemy and Benesse will provide over 250 Tokyo-based SMEs with skills, courses in Japanese to support digital transformation.

    我們繼續在包括亞太地區在內的多個地區看到國際上的強勁增長,通過我們的合作夥伴 Benesse,我們支持東京都政府加速東京中小企業的數字化轉型。到 2023 年 3 月,Udemy 和 Benesse 將為 250 多家東京中小企業提供日語技能和課程,以支持數字化轉型。

  • Udemy's growth is also fueled by expanding partnerships. Our partners range from other businesses offering Udemy courses as an additional product to their customers as well as other online learning platforms that use Udemy's course offerings as a way to up-level their content portfolio and further serve the levers. For example, we've partnered with SumTotal, a global leader in talent acquisition, onboarding, learning management and talent management solutions, enabling them to sell Udemy Business content through their learning management experience platform. This, coupled with our SumTotal and Udemy Business integration, provides SumTotal' customers with a streamlined purchasing process and access to Udemy courses.

    Udemy 的增長也得益於擴大合作夥伴關係。我們的合作夥伴包括向客戶提供作為附加產品的 Udemy 課程的其他企業,以及使用 Udemy 的課程產品作為提升其內容組合和進一步服務槓桿的方式的其他在線學習平台。例如,我們與人才招聘、入職、學習管理和人才管理解決方案的全球領導者 SumTotal 合作,使他們能夠通過其學習管理體驗平台銷售 Udemy Business 內容。這與我們的 SumTotal 和 Udemy Business 集成相結合,為 SumTotal 的客戶提供了簡化的購買流程和對 Udemy 課程的訪問。

  • And in Latin America, we partnered with eClass, an online learning platform in Chile, enabling them to resell Udemy Business courses. As we look ahead to Q3, we believe that the global market and demand for online learning will help drive strong Udemy Business growth over the long term.

    在拉丁美洲,我們與智利的在線學習平台 eClass 合作,使他們能夠轉售 Udemy Business 課程。展望第三季度,我們相信全球市場和在線學習需求將有助於推動 Udemy 業務的長期強勁增長。

  • Since launching just 7 years ago, Udemy Business has quickly scaled to over $300 million in ARR. With a revenue CAGR of 90% plus, over the last 3 years, as our marketplace content and instructor flywheel has provided a powerful foundation for organizations, learning and skilling. With Udemy Businesses predictable revenue stream eclipsing our consumer business in June, we look forward to continuing to drive this momentum and expanding into larger global and domestic organizations.

    自 7 年前推出以來,Udemy Business 的 ARR 已迅速擴大到超過 3 億美元。在過去 3 年中,收入複合年增長率超過 90%,因為我們的市場內容和講師飛輪為組織、學習和技能提供了強大的基礎。隨著 Udemy Businesses 可預測的收入流在 6 月超越我們的消費者業務,我們期待繼續推動這一勢頭並擴展到更大的全球和國內組織。

  • Let's move on to the second area of focus in my remarks today, our work to support our instructors and learners in building and growing our vibrant and healthy marketplace. Instructors are the foundation of everything we do here at Udemy. They power our marketplace with dynamic content that helps grow careers and enable unique learning paths for over 54 million learners at Udemy.

    讓我們繼續討論我今天發言的第二個重點領域,我們的工作是支持我們的教師和學習者建立和發展我們充滿活力和健康的市場。講師是我們在 Udemy 所做一切的基礎。他們通過動態內容為我們的市場提供動力,這些內容有助於發展職業,並為 Udemy 超過 5400 萬學習者提供獨特的學習路徑。

  • Our instructors also encompass a truly global footprint, spanning learning across over 75 languages. Udemy and its instructors succeed together. Our team takes an active role in partnering with instructors to help them broaden their global reach and impact as well as their earnings.

    我們的講師還涵蓋真正的全球足跡,涵蓋超過 75 種語言的學習。 Udemy 和它的導師一起成功。我們的團隊在與講師合作方面發揮積極作用,幫助他們擴大全球影響力和影響力以及他們的收入。

  • For example, Ranga Karanam is the India-based web developer instructor on Udemy who helps prepare students in over 200 countries to succeed in AWS, Global Cloud and other certification exams. In June, Ranga surpassed 1 million Udemy students worldwide. He credit the support he received from Udemy's instructor partner team with helping him reach this incredible milestone. Our instructor success is our success, and we know it is vital for us to nurture these relationships so the highest quality instructors continues to choose Udemy as their teaching platform.

    例如,Ranga Karanam 是 Udemy 的印度 Web 開發人員講師,他幫助 200 多個國家/地區的學生為在 AWS、全球雲和其他認證考試中取得成功做好準備。 6 月,Ranga 的全球 Udemy 學生人數超過 100 萬。他將 Udemy 的講師合作夥伴團隊的支持歸功於幫助他達到這一令人難以置信的里程碑。我們的講師成功就是我們的成功,我們知道培養這些關係對我們來說至關重要,因此最高質量的講師會繼續選擇 Udemy 作為他們的教學平台。

  • It's not just the quality of our instructors that matter. It's their ability to rapidly produce high-quality content. For example, a new version of the AWS certified solutions architect associate exam will replace the current exam this month to help employees and individual learners around the globe successfully prepare to achieve the certification, Udemy instructor, Chandra Lingam, has had a 4.6 rated Udemy course available on this updated certification since April, showcasing the freshness and relevance of our content offering. More than 10,000 learners have taken this course to date.

    重要的不僅僅是我們導師的素質。這是他們快速製作高質量內容的能力。例如,新版本的 AWS 認證解決方案架構師助理考試將取代本月的當前考試,以幫助全球員工和個人學習者成功準備獲得認證,Udemy 講師 Chandra Lingam 的 Udemy 課程評分為 4.6自 4 月起可在此更新的認證中使用,展示了我們提供的內容的新鮮度和相關性。迄今為止,已有超過 10,000 名學習者參加了這門課程。

  • And speaking of content, according to our Q2 Global Workplace Learning Index, courses to help individuals improve their test-taking skills saw a nearly 300% increase in course consumption in the U.S. compared to the previous quarter, signaling the importance professionals place in preparing for certification exams and providing their knowledge of various software skills. We are proud of Udemy's role in helping individuals prepare for these important milestones in their careers.

    說到內容,根據我們的第二季度全球職場學習指數,幫助個人提高考試技能的課程在美國的課程消費量與上一季度相比增長了近 300%,這表明專業人士在備考中的重要性認證考試並提供他們對各種軟件技能的了解。我們為 Udemy 在幫助個人為職業生涯中的這些重要里程碑做準備方面所發揮的作用感到自豪。

  • Now let's move on to the third area of my remarks today, Udemy's continued product innovation. This quarter, we saw this in action with Udemy Business while we rolled out our skills insights dashboard, enabling customers to unlock learning insights within their organization.

    現在讓我們繼續我今天發言的第三個領域,Udemy 的持續產品創新。本季度,我們在 Udemy Business 中看到了這一點,同時我們推出了技能洞察儀表板,使客戶能夠在其組織內解鎖學習洞察力。

  • We also introduced 18 new labs, 4 in-course workshops and 6 updated Udemy [paths] and Udemy Business Pro. These new rollouts were implemented in response to direct consumer feedback and reflect a wider customer-centric approach to our product development. This approach is a large factor in why new customers come to Udemy and why existing customers expand their relationships with us.

    我們還推出了 18 個新實驗室、4 個課程研討會和 6 個更新的 Udemy [路徑] 和 Udemy Business Pro。這些新的推出是為了響應消費者的直接反饋而實施的,並反映了我們產品開發更廣泛的以客戶為中心的方法。這種方法是新客戶來到 Udemy 以及現有客戶擴大與我們的關係的一個重要因素。

  • And in our marketplace, we're driving higher conversions with 5 new payment methods in Belgium, Malaysia, Singapore and Philippines, improved search ranking for our users and algorithm-optimized personalized discount promotions. We're also expanding our subscriptions footprint with personal plan subscriptions now available at 100% of users in the U.S., Great Britain, Australia and South Africa.

    在我們的市場中,我們正在通過比利時、馬來西亞、新加坡和菲律賓的 5 種新支付方式、改進的用戶搜索排名以及算法優化的個性化折扣促銷活動來推動更高的轉化率。我們還在擴大我們的訂閱範圍,現在美國、英國、澳大利亞和南非 100% 的用戶都可以訂閱個人計劃。

  • Lastly, we launched a bulk coupon creation tool that enables instructors to market their courses more effectively across our global community of learners. Together, we're continuing to build the best and most innovative learning company in the world so that our customers realize the best possible outcomes and ROI from learning through Udemy.

    最後,我們推出了批量優惠券創建工具,使教師能夠在我們的全球學習者社區中更有效地推銷他們的課程。我們將一起繼續打造世界上最好和最具創新性的學習公司,以便我們的客戶通過 Udemy 實現學習的最佳成果和投資回報率。

  • Our customer-centric approach to product development aims to provide the best experience for learners, the highest monetization opportunities for our instructors and the most flexible and effective way to upskill and reskill employees for organizations.

    我們以客戶為中心的產品開發方法旨在為學習者提供最佳體驗,為我們的講師提供最高的貨幣化機會,以及為組織提高員工技能和重新培訓員工的最靈活和有效的方式。

  • Before I conclude, I'd like to cover 2 important areas of investment for us at Udemy. First, our ESG goals and partnerships. And second, our equity and inclusion initiatives to help anchor our company mission and workforce culture.

    在結束之前,我想介紹一下 Udemy 的兩個重要投資領域。首先,我們的 ESG 目標和合作夥伴關係。其次,我們的公平和包容性舉措有助於鞏固我們的公司使命和員工文化。

  • Turning first to ESG, where we're currently rated in the first percentile for ESG risk ratings in our industry category last year by the ESG research firm Sustainalytics. I'm excited to announce that we recently launched our first ESG impact report in Q2, highlighting our ESG efforts and spotlighting how we support our learners, instructors, customers and communities. You can find the report on our ESG website, and I encourage you all to take a look.

    首先談談 ESG,我們目前在去年被 ESG 研究公司 Sustainalytics 評為行業類別中 ESG 風險評級的第一個百分位。我很高興地宣布,我們最近在第二季度發布了第一份 ESG 影響報告,重點介紹了我們在 ESG 方面所做的努力,並強調了我們如何支持我們的學習者、教師、客戶和社區。您可以在我們的 ESG 網站上找到該報告,我鼓勵大家看看。

  • This impact report marks the first major step in telling our ESG story to our larger audience, and we look forward to expanding our dialogue with relevant investors, partners and nonprofits in the coming months.

    這份影響報告標誌著向廣大受眾講述我們的 ESG 故事邁出了重要的第一步,我們期待在未來幾個月擴大與相關投資者、合作夥伴和非營利組織的對話。

  • I'd like to share with you the incredible impact we've seen with one of our nonprofit partners, The Last Mile, an organization that provides incarcerated and formally incarcerated individuals access to resources to thrive in today's rapidly evolving job market. Since 2019, The Last Mile has used Udemy to set up learning paths with specific objectives and groups has successfully helped over 150 program participants learn coding and workplace skills for a successful reentry into the workforce.

    我想與您分享我們與我們的一個非營利合作夥伴 The Last Mile 所看到的令人難以置信的影響,該組織為被監禁和正式被監禁的個人提供資源,以在當今快速發展的就業市場中茁壯成長。自 2019 年以來,The Last Mile 使用 Udemy 設置了具有特定目標和小組的學習路徑,已成功幫助 150 多名計劃參與者學習編碼和工作技能,以便成功重新進入勞動力市場。

  • Telisa Howe, who had served a prison sentence from 2018 to 2020, signed up for Udemy business courses through The Last Mile program to learn coding and open doors to a new career. Fast forward 2 years, Telisa now teaches others from her community how to code, and has used the skills she leaned on Udemy to secure a role as the lead web designer at the Indiana Department of Correction.

    Telisa Howe 在 2018 年至 2020 年期間服刑,她通過 The Last Mile 計劃報名參加 Udemy 商業課程,以學習編碼並開啟新職業的大門。快進 2 年,Telisa 現在教她社區中的其他人如何編碼,並利用她在 Udemy 身上獲得的技能在印第安納州懲教署擔任首席網頁設計師。

  • We're also excited to continue our partnership with Upwardly Global. Upwardly Global helps eliminate employment barriers among skilled immigrants and refugees as they integrate with the U.S. workforce. Udemy has partnered with Upwardly Global since 2020 to provide access to resources that can help individuals prepare to pass industry-recognized certifications and secure new jobs.

    我們也很高興繼續與 Upwardly Global 合作。 Upwardly Global 有助於消除技術移民和難民與美國勞動力融合時的就業障礙。自 2020 年以來,Udemy 與 Upwardly Global 合作,提供資源訪問權限,幫助個人準備通過行業認可的認證並獲得新工作。

  • Take, Maria, a business analytics professional originally from Jamaica. Following her Upwardly Global job coach recommendation, Maria completed several data analytics courses through the Udemy Business platform, including Microsoft XL, business intelligence with power query and the C learning for data analysis, progressing and forecasting. Soon after adding her new skills and core certificates through our LinkedIn profile, a hiring manager reached out to her to schedule an interview. Maria passed the interview and was offered a business analyst role at the company. These are just a few examples of the way Udemy is improving lives to learning.

    以瑪麗亞為例,她是一位來自牙買加的商業分析專家。在她的 Upwardly Global 工作教練推薦之後,Maria 通過 Udemy Business 平台完成了幾門數據分析課程,包括 Microsoft XL、帶有電源查詢的商業智能以及用於數據分析、進度和預測的 C 學習。通過我們的 LinkedIn 個人資料添加她的新技能和核心證書後不久,一位招聘經理聯繫了她安排面試。瑪麗亞通過了面試,並獲得了公司的業務分析師職位。這些只是 Udemy 改善生活以學習的方式的幾個例子。

  • Growing a successful business always comes down to talent and culture. And at Udemy. I'm proud to say that we continue to attract and retain our valuable employees. As we move forward, we continue to fuel Udemy Business growth with targeted talent investments particularly in sales and customer success. Though we remain confident about our business trajectory and continue to hire to support growth, we are also honing our resource allocation to remain strategically efficient against the macroeconomic environment. It is a balance we take seriously. Our unique culture, our diversity, equity and inclusion commitments and our company's mission to impact careers and lives for the better help us hire and retain a truly passionate and talented team of Udemy.

    發展成功的企業始終取決於人才和文化。在 Udemy。我很自豪地說,我們將繼續吸引和留住我們寶貴的員工。隨著我們的前進,我們將繼續通過有針對性的人才投資來推動 Udemy 業務的增長,尤其是在銷售和客戶成功方面。儘管我們對我們的業務軌跡充滿信心並繼續招聘以支持增長,但我們也在磨練我們的資源分配,以在宏觀經濟環境下保持戰略效率。這是我們認真對待的平衡。我們獨特的文化、我們的多元化、公平和包容性承諾以及我們公司影響職業和生活以更好地幫助我們僱傭和留住真正充滿激情和才華橫溢的 Udemy 團隊的使命。

  • And we continue to be recognized as a top employer. I'm proud to share that this quarter, Great Place to Work Ireland honored Udemy on its 2022 list of Ireland's Best Workplaces in Tech, a wonderful build upon our Great Places to Work award in Ireland last quarter. We're also excited to share that Fair Pay Workplace has certified Udemy as a company achieving pay equity. This important certification means that we are committed to using the most trusted and transparent methods to analyze pay equity by race, gender and their intersection to ensure ongoing pay equity for our employees.

    我們繼續被公認為頂級雇主。我很自豪地與大家分享,本季度,Great Place to Work Ireland 在其 2022 年愛爾蘭最佳科技工作場所名單中授予 Udemy 榮譽,這是我們上個季度在愛爾蘭獲得的 Great Places to Work 獎項的絕佳基礎。我們也很高興分享 Fair Pay Workplace 已將 Udemy 認證為實現薪酬公平的公司。這一重要認證意味著我們致力於使用最受信任和最透明的方法按種族、性別及其交叉點分析薪酬公平,以確保我們員工的持續薪酬公平。

  • To conclude, Q2 continues to demonstrate that our symbiotic model is working. Growing and supporting our content on the Udemy marketplace benefits learners and instructors alike, and drives high-quality, global and broad content for Udemy Business customers and organizations. The strong top line growth of Udemy Business in turn helps fuel further investment and growth in our marketplace content creators. This ecosystem is not only unique to the industry, but it's helped us surpass over $300 million in recurring revenue in Q2, with an enterprise scale and recurring revenue business model that is firing on all cylinders.

    總而言之,第二季度繼續證明我們的共生模型正在發揮作用。在 Udemy 市場上發展和支持我們的內容有利於學習者和教師,並為 Udemy Business 客戶和組織提供高質量、全球性和廣泛的內容。 Udemy Business 強勁的收入增長反過來又有助於推動我們對市場內容創作者的進一步投資和增長。這個生態系統不僅是該行業獨有的,而且它幫助我們在第二季度實現了超過 3 億美元的經常性收入,其企業規模和經常性收入業務模式正在全力以赴。

  • Udemy is disrupting learning through our unparalleled platform and rapidly scaling SaaS business. Improving lives through learning is our mission. And we are proud to bring together our 71,000 instructors, over 12,000 customers and growing roster of strategic partners to deliver it worldwide. Together, united in our commitment to upskilling and reskilling, we are activating positive outcomes for businesses and individuals even in the face of economic uncertainty.

    Udemy 正在通過我們無與倫比的平台顛覆學習,並迅速擴展 SaaS 業務。通過學習改善生活是我們的使命。我們很自豪能夠將我們的 71,000 名講師、12,000 多名客戶和不斷增長的戰略合作夥伴名冊聚集在一起,在全球範圍內提供它。我們齊心協力,致力於提陞技能和再培訓,即使面對經濟不確定性,我們也正在為企業和個人帶來積極的成果。

  • With that, I'll turn the call over to Sarah to dive into the numbers.

    有了這個,我會把電話轉給莎拉,讓她深入研究這些數字。

  • Sarah Walter Blanchard - CFO

    Sarah Walter Blanchard - CFO

  • Thank you, Greg. As Greg said, we had a very strong second quarter, driven by continued momentum and execution in our Udemy Business segment. This is evident in our exceptional Udemy business ARR growth in Q2 of 74% versus the prior year, with Udemy Business customer growth of 44% versus the prior year. Udemy Business continues to perform well across a broad array of verticals and geographies.

    謝謝你,格雷格。正如 Greg 所說,由於 Udemy 業務部門的持續發展勢頭和執行力,我們的第二季度表現非常強勁。這一點在我們第二季度的 Udemy 業務 ARR 與去年同期增長 74% 的非凡增長中很明顯,Udemy 業務客戶與去年同期相比增長了 44%。 Udemy Business 在廣泛的垂直領域和地區繼續表現良好。

  • Q2 total revenue of $153.1 million was up 21% year-over-year and up 1% sequentially. Our Udemy business net dollar retention rate was 118% this quarter within our expected quarter-to-quarter range, highlighting the continued success of our land and expand strategy. Udemy Business revenue was $74.6 million, up 77% from the prior year, demonstrating our consistent and sustained growth at this scale. Our consumer business delivered $78.5 million in revenue, down 7% from the prior year.

    第二季度總收入為 1.531 億美元,同比增長 21%,環比增長 1%。本季度我們的 Udemy 業務淨美元保留率為 118%,處於我們預期的季度環比範圍內,突顯了我們土地和擴張戰略的持續成功。 Udemy Business 收入為 7460 萬美元,比上一年增長 77%,證明了我們在這個規模上的持續和持續增長。我們的消費者業務實現了 7850 萬美元的收入,比上一年下降了 7%。

  • As Gregg noted earlier, we see encouraging so early signs of stability in our consumer business, which was down 2% year-over-year when excluding the impact of FX. While macro uncertainty still presents some degree of volatility in our consumer business and outlook, it's important to note that we continue to view the consumer marketplace as fundamentally healthy. And we're encouraged by the stabilization of top line performance that we saw in Q2. We continue to add instructors and thousands of courses monthly, and our marketplace serves as a vibrant engine that fuel Udemy Business growth. The symbiotic system of these 2 parts of our business is a unique and differentiated model that we believe will continue to drive Udemy Business top line growth over the long term.

    正如格雷格早些時候指出的那樣,我們看到了令人鼓舞的消費者業務穩定的早期跡象,剔除外匯影響後,該業務同比下降了 2%。儘管宏觀不確定性仍然給我們的消費業務和前景帶來一定程度的波動,但需要注意的是,我們繼續認為消費市場基本面是健康的。我們對第二季度看到的頂線業績穩定感到鼓舞。我們繼續每月增加講師和數千門課程,我們的市場作為推動 Udemy 業務增長的充滿活力的引擎。我們業務的這兩個部分的共生系統是一種獨特且差異化的模式,我們相信它將繼續推動 Udemy 業務的長期收入增長。

  • For the remainder of this call, all financial metrics are non-GAAP, unless stated otherwise. Q2 gross profit was $89 million, up 27% year-over-year, driven by Udemy Business. Gross margin was 58% of revenue, up from 56% in Q2 of 2021. This margin expansion was the result of the continued revenue mix shift to Udemy Business from consumer.

    在本次電話會議的其餘部分,除非另有說明,否則所有財務指標均為非公認會計原則。在 Udemy Business 的推動下,第二季度毛利潤為 8900 萬美元,同比增長 27%。毛利率為收入的 58%,高於 2021 年第二季度的 56%。這種利潤率的增長是收入組合持續從消費者轉向 Udemy 業務的結果。

  • Moving to OpEx. Total operating expense was $101.7 million or 66% of revenue compared to 60% in Q2 of last year. Sales and marketing expenses represented 41% of total revenue compared to 39% this quarter last year as we continue to invest in the strong growth and clear ROI in Udemy Business by expanding our go-to-market and enterprise marketing team.

    轉向運營支出。總運營費用為 1.017 億美元,佔收入的 66%,而去年第二季度為 60%。銷售和營銷費用佔總收入的 41%,而去年本季度這一比例為 39%,因為我們通過擴大我們的上市和企業營銷團隊繼續投資於 Udemy Business 的強勁增長和明確的投資回報率。

  • R&D expense was 13% of revenue, up 234 basis points year-over-year. We are continuing to invest in building out our comprehensive learning platform that sits on top of our marketplace content engine. Our focus is on building out the set of capabilities that allow our learners to achieve their professional goals in the way that works best for them. This includes continuing to build out immersive learning experiences like labs and assessments, but also investing in the ability to more clearly align the skills needed to achieve professional aspirations with the capabilities to guide learners through their journey.

    研發費用佔收入的 13%,同比增長 234 個基點。我們將繼續投資建設我們的綜合學習平台,該平台位於我們的市場內容引擎之上。我們的重點是建立一套能力,使我們的學習者能夠以最適合他們的方式實現他們的職業目標。這包括繼續打造身臨其境的學習體驗,如實驗室和評估,但也投資於更明確地將實現職業抱負所需的技能與引導學習者完成旅程的能力相結合的能力。

  • These investments include 3 core areas of innovation. First, a proprietary skills graph that matches courses and skills to realize professional aspiration. We will first launch the Udemy Business and then we will launch them as a part of our consumer offer. Second, we are fueling these skills graph with sophisticated machine learning and AI models that can personalize the learning experience for each individual. Finally, we launched Career Guides as part of our consumer subscription offerings.

    這些投資包括 3 個核心創新領域。首先,一個專有的技能圖表,匹配課程和技能以實現職業抱負。我們將首先推出 Udemy Business,然後將它們作為我們消費者產品的一部分推出。其次,我們正在通過複雜的機器學習和人工智能模型來推動這些技能圖,這些模型可以為每個人提供個性化的學習體驗。最後,我們推出了職業指南,作為我們消費者訂閱產品的一部分。

  • We expect these investments to improve owner experiences, provide more tangible outcomes for learners and customers and increase LTV over time. Rounding out our discussion of operating expenses. G&A expense was 12% of revenue versus 10% a year ago. Net loss in the quarter was negative $13.6 million or negative 9% of revenue. Adjusted EBITDA was negative $8.6 million or negative 6% of revenue.

    我們希望這些投資能夠改善業主體驗,為學習者和客戶提供更切實的成果,並隨著時間的推移提高 LTV。結束我們對運營費用的討論。 G&A 費用佔收入的 12%,而一年前為 10%。本季度的淨虧損為負 1360 萬美元,佔收入的負 9%。調整後的 EBITDA 為負 860 萬美元或收入的負 6%。

  • In Q2, we've made a decision to pull back a bit on our direct response marketing spend, which positively impacted our adjusted EBITDA. As always, we continue to be disciplined on the efficiency of our marketing expense while also investing where we see clear and worthwhile growth opportunities. Free cash flow was negative (inaudible) a $6.5 million versus positive $2.7 million a year ago.

    在第二季度,我們決定縮減我們的直接響應營銷支出,這對我們調整後的 EBITDA 產生了積極影響。與往常一樣,我們將繼續嚴格控制營銷費用的效率,同時在我們看到明確且有價值的增長機會的地方進行投資。自由現金流為負(聽不清)650 萬美元,而一年前為正270 萬美元。

  • Moving on to the balance sheet. We ended the quarter with $512 million of unrestricted cash, cash equivalents and marketable securities. By segment, free cash flow was net at $6.5 million versus positive $2.7 million a year ago.

    轉到資產負債表。我們在本季度末擁有 5.12 億美元的無限制現金、現金等價物和有價證券。按細分市場劃分,自由現金流為 650 萬美元,而一年前為 270 萬美元。

  • Moving on to the balance sheet. We ended the quarter with $512 million of unrestricted cash, cash equivalents and marketable securities. By segment, Consumer revenue was $78.5 million, down 7% year-over-year. In the second quarter, we had approximately 1.3 million monthly average buyer, which was down 2% versus a year ago. Consumer gross profit was $42.3 million or 54% of consumer revenue, approximately 20 basis points higher than in Q2 2021. Gross margin expansion was driven by lower consumer GMV in the quarter as a percentage of revenue.

    轉到資產負債表。我們在本季度末擁有 5.12 億美元的無限制現金、現金等價物和有價證券。按細分市場劃分,消費者收入為 7850 萬美元,同比下降 7%。第二季度,我們每月平均有大約 130 萬買家,與一年前相比下降了 2%。消費者毛利潤為 4230 萬美元,佔消費者收入的 54%,比 2021 年第二季度高出約 20 個基點。毛利率增長是由於本季度消費者 GMV 佔收入的百分比較低。

  • As a reminder, in our consumer transaction business, instructor costs are recorded immediately, but their revenue is recognized over a 4-month period. We also added 2 million new consumer and business learners, bringing our total order base to 54 million. As a reminder, we defined a learner as someone who is enrolled and spend time learning on the platform.

    提醒一下,在我們的消費者交易業務中,講師成本會立即記錄,但他們的收入會在 4 個月內確認。我們還增加了 200 萬新的消費者和商業學習者,使我們的總訂單量達到 5400 萬。提醒一下,我們將學習者定義為已註冊並花時間在平台上學習的人。

  • Udemy Business continues its robust growth, with Q2 revenue of $74.6 million, up 77% year-over-year. We ended the quarter with over 12,500 Udemy Business customers, up 44% from a year ago. Udemy Business also crossed the $300 million ARR mark in Q2, ending the quarter at $316.1 million, up 74% as compared to a year ago. Udemy Business gross profit was $49.9 million or 67% of Udemy business revenue, which represents a roughly 120 basis point increase year-over-year. The improvement was primarily driven by a decrease in Udemy Business content costs as a percentage of Udemy Business revenue.

    Udemy Business 繼續強勁增長,第二季度收入為 7460 萬美元,同比增長 77%。我們在本季度結束時擁有超過 12,500 名 Udemy Business 客戶,比一年前增長 44%。 Udemy Business 在第二季度也突破了 3 億美元的 ARR 大關,本季度末達到 3.161 億美元,比一年前增長 74%。 Udemy Business 毛利潤為 4990 萬美元,佔 Udemy 業務收入的 67%,同比增長約 120 個基點。改善的主要原因是 Udemy Business 內容成本佔 Udemy Business 收入的百分比下降。

  • Let's now turn to guidance. Looking ahead to the third quarter of fiscal 2022, we expect revenues to be between $153 million and $157 million. As mentioned earlier, we continue Udemy Business to experience strong level, becoming the majority of our revenue in Q3 of this year. I'd like to provide a little more color on our Q3 guidance.

    現在讓我們轉向指導。展望 2022 財年第三季度,我們預計收入將在 1.53 億美元至 1.57 億美元之間。如前所述,我們繼續讓 Udemy Business 保持強勁水平,成為我們今年第三季度收入的主要部分。我想為我們的第三季度指導提供更多色彩。

  • While we are encouraged by the stabilization of our Q2 consumer performance, our consumer business continues to be affected by some of the larger macroeconomic factors that have impacted our consumer growth over the last several quarters. We believe these headwinds remain heading into Q3 and will continue to put some pressure on consumer growth in the near term. We do expect our marketplace to continue to be healthy and to further fuel Udemy Business.

    雖然我們對第二季度消費者業績的穩定感到鼓舞,但我們的消費者業務繼續受到過去幾個季度影響我們消費者增長的一些更大的宏觀經濟因素的影響。我們認為,這些不利因素將持續到第三季度,並將在短期內繼續對消費者增長造成一定壓力。我們確實希望我們的市場繼續保持健康並進一步推動 Udemy 業務。

  • Growth in Udemy business remains strong, and we remain very excited and encouraged by the rapid revenue expansion and strong net dollar retention. For the third quarter, we expect an adjusted EBITDA margin of negative 14% to negative 12%. Given the growth and opportunity we see in the business, we are continuing to make targeted investments in R&D and go-to-market initiatives, which are factored into our Q3 operating expenses.

    Udemy 業務的增長依然強勁,我們仍然對收入的快速增長和強勁的淨美元保留感到非常興奮和鼓舞。對於第三季度,我們預計調整後的 EBITDA 利潤率為負 14% 至負 12%。鑑於我們在業務中看到的增長和機會,我們將繼續對研發和上市計劃進行有針對性的投資,這些投資已計入我們的第三季度運營費用。

  • Turning to our full year 2022 guidance. We expect full year revenue to now be between $615 million and $640 million, compared to a range of $610 million to $640 million previously. Our full year adjusted EBITDA margin guidance remains unchanged, and we expect a range of negative 12% to negative 10%.

    轉向我們的 2022 年全年指導。我們預計全年收入現在將在 6.15 億美元至 6.4 億美元之間,而之前的範圍為 6.1 億美元至 6.4 億美元。我們全年調整後的 EBITDA 利潤率指引保持不變,我們預計負 12% 至負 10% 的範圍。

  • Before I back off, I'd also like to announce that we will be holding our first Investor Analyst Day on November 16. We'll be hosting it virtually and hope you all will join us. Please save the date.

    在我退出之前,我還想宣布,我們將在 11 月 16 日舉行我們的第一個投資者分析師日。我們將以虛擬方式舉辦,希望大家能加入我們。請保存日期。

  • To conclude, our Q2 performance demonstrated the strong growth and momentum of Udemy Business and the symbiotic relationship with our marketplace. The continued growth in recurring revenue coupled with strong net dollar expansion underscores some massive opportunity in front of us to help organizations and people change lives through learning.

    總而言之,我們的第二季度業績證明了 Udemy Business 的強勁增長和勢頭以及與我們市場的共生關係。經常性收入的持續增長以及強勁的淨美元增長突顯了我們面前的一些巨大機會,可以幫助組織和人們通過學習改變生活。

  • So with that, we'll open up the call for Q&A. Operator?

    因此,我們將打開問答電話。操作員?

  • Operator

    Operator

  • (Operator Instructions) Our first question comes from the line of Brent Thill with Jefferies.

    (操作員說明)我們的第一個問題來自 Jefferies 的 Brent Thill。

  • David Marshall Lustberg - Equity Associate

    David Marshall Lustberg - Equity Associate

  • This is David Lustberg on for Brent. Appreciate the questions. Gregg, I wanted to start, you talked a little bit in your opening remarks about shifting of budget, I guess, from online to -- offline to online rather. I think a lot of folks out there are a little bit worried about pressure on L&D budgets as we head into a tougher macro. I'm curious, as you think about potential pressure on budgets, do you think that encourages the shift of dollars from off-line to online?

    這是布倫特原油的大衛·勒斯特伯格。欣賞這些問題。 Gregg,我想開始,你在開場白中談到了一些關於預算的轉變,我猜,是從線上轉移到線下轉移到線上。我認為當我們進入更嚴格的宏觀環境時,很多人有點擔心 L&D 預算的壓力。我很好奇,當您考慮預算的潛在壓力時,您認為這會鼓勵美元從線下轉移到線上嗎?

  • Gregg Andrew Coccari - Chairperson of the Board of Directors, President & CEO

    Gregg Andrew Coccari - Chairperson of the Board of Directors, President & CEO

  • Yes, we actually do. Still 80% of the online -- of the training today is in-person. And we know with remote work, and we know with the remote workforce, that's very expensive, and it's more difficult. So we're seeing some budgets that are being cut back, but actually are -- they're adding more CCU to Udemy because we have a very effective cost-effective, high ROI business. And so we've been doing very well in this environment.

    是的,我們確實這樣做了。今天仍有 80% 的在線培訓是面對面的。我們知道遠程工作,我們知道遠程勞動力,這非常昂貴,而且更加困難。因此,我們看到一些預算正在被削減,但實際上是——他們正在為 Udemy 添加更多的 CCU,因為我們擁有非常有效的成本效益、高投資回報率的業務。所以我們在這個環境中一直做得很好。

  • David Marshall Lustberg - Equity Associate

    David Marshall Lustberg - Equity Associate

  • That's helpful. And maybe just a follow-up. Can you remind us about your sales cycle? What's the typical time line? And have you guys noticed any changes in that over the last couple of months?

    這很有幫助。也許只是後續行動。你能提醒我們你的銷售週期嗎?典型的時間線是什麼?在過去的幾個月裡,你們有沒有註意到這方面的任何變化?

  • Gregg Andrew Coccari - Chairperson of the Board of Directors, President & CEO

    Gregg Andrew Coccari - Chairperson of the Board of Directors, President & CEO

  • Not really. It's really too early for us to have seen any impact in that. It was very consistent over the last couple of quarters, so we have not seen that lengthen at all. And our normal sales cycle, it really depends on size of companies, the smaller companies we do within a quarter. The larger company is 6 to 12 months.

    並不真地。我們現在看到任何影響還為時過早。在過去的幾個季度中,它非常一致,所以我們根本沒有看到這種延長。而我們正常的銷售週期,這真的取決於公司的規模,我們在一個季度內做的較小的公司。較大的公司是 6 到 12 個月。

  • Operator

    Operator

  • Our next question comes from Rob Oliver with Baird.

    我們的下一個問題來自 Rob Oliver 和 Baird。

  • Robert Cooney Oliver - Senior Research Analyst

    Robert Cooney Oliver - Senior Research Analyst

  • Can you guys hear me okay?

    你們能聽到我的聲音嗎?

  • Gregg Andrew Coccari - Chairperson of the Board of Directors, President & CEO

    Gregg Andrew Coccari - Chairperson of the Board of Directors, President & CEO

  • Yes, we can.

    我們可以。

  • Robert Cooney Oliver - Senior Research Analyst

    Robert Cooney Oliver - Senior Research Analyst

  • Just figured I'd double check. So obviously, a huge quarter for you guys on UB with some major signature wins, which you called out, Gregg, in your prepared remarks. I've been just analyzing the focus on bolt-on, but I'll just focus on one, and then I had a follow-up.

    只是想我會仔細檢查。所以很明顯,對於你們在 UB 上的一個巨大的季度,你們獲得了一些重大的簽名勝利,格雷格,你在準備好的評論中提到了這一點。我一直在分析對螺栓固定的關注,但我只關註一個,然後我進行了跟進。

  • On that -- on the second largest deal which came on the heels of the largest deal, which you characterized as a competitive displacement. I was wondering if you could add a little bit of color around the RFP process, what some of the salient points were for why Udemy was chosen? And was there a side-by-side trial period? I know we've -- you discussed in the past, you guys have mentioned often you run side-by-side with competitors. Any color there would be helpful. And then I just had a quick follow-up.

    關於那 - 在最大交易之後的第二大交易,您將其描述為競爭性替代。我想知道您是否可以在 RFP 流程中添加一點色彩,選擇 Udemy 的一些要點是什麼?是否有並行試用期?我知道我們——你們過去討論過,你們經常提到你們與競爭對手並肩作戰。那裡的任何顏色都會有幫助。然後我進行了快速跟進。

  • Gregg Andrew Coccari - Chairperson of the Board of Directors, President & CEO

    Gregg Andrew Coccari - Chairperson of the Board of Directors, President & CEO

  • Yes, I believe it was a head-to-head test that went on for a significant number of months. And so normally, when that's in these larger companies, we'll be careful. They'll do head-to-head tests and we had much higher engagement. So it led to that deal.

    是的,我相信這是一場持續數月的正面交鋒。所以通常情況下,在這些大公司中,我們會小心。他們會進行面對面的測試,我們的參與度要高得多。所以它促成了那筆交易。

  • Robert Cooney Oliver - Senior Research Analyst

    Robert Cooney Oliver - Senior Research Analyst

  • Okay. Helpful. And Sarah, for you, just on the consumer side, you I think you guys were fairly clear you saw signs of stabilization. We're not out of the woods in still some unknowns. So would just love to get a sense from you, I guess, on some of the newer initiatives there, in particular, perhaps the consumer subscription offering. It appears you guys mentioned how you've rolled that out now broadly in the U.S., I think I heard -- appears you guys have settled around that $30 price point per month with what struck us as a newer option. We're at a significant discount for upfront pay.

    好的。有幫助。莎拉,對你來說,就消費者而言,你我認為你們很清楚,你看到了穩定的跡象。在一些未知的情況下,我們還沒有走出困境。因此,我想,我想從您那裡了解一些較新的舉措,尤其是消費者訂閱服務。看來你們提到了你們現在是如何在美國廣泛推出的,我想我聽說了——你們似乎已經解決了每月 30 美元的價格點,這是一個讓我們印象深刻的新選擇。我們的預付款有很大的折扣。

  • Can you talk a little bit about how that's going, early reads on that? And if those economics are right? And then a corollary to that, if we can expect you guys will tweak that consumer subscription pricing similar to the pricing we see the levers you guys pull around your one-off course solutions.

    你能談談這是怎麼回事嗎,早期的閱讀?如果這些經濟學是正確的?然後一個推論,如果我們可以預期你們會調整消費者訂閱定價,類似於定價,我們會看到你們圍繞一次性課程解決方案拉動的槓桿。

  • Sarah Walter Blanchard - CFO

    Sarah Walter Blanchard - CFO

  • Yes, great questions. So you're right on the economics there. And it's too early to tell. It's pretty early that we launched that annual plan. So I would say too early to tell, but we are rolling it out. And we expect pretty broad rollout across most of the major markets in the back half. From a pricing perspective, we're always testing. We've discussed before that we have this really sophisticated pricing algorithm for our transactional courses. And we'll probably be doing some testing on the consumer subscription side, but we're not there yet.

    是的,很好的問題。所以你在經濟學上是對的。現在說還為時過早。我們推出年度計劃還為時過早。所以我想說說還為時過早,但我們正在推出它。我們預計後半部分大部分主要市場都會有相當廣泛的推廣。從定價的角度來看,我們一直在測試。我們之前已經討論過,我們為交易課程提供了這種非常複雜的定價算法。我們可能會在消費者訂閱方面進行一些測試,但我們還沒有。

  • Operator

    Operator

  • Our next question comes from Terry Tillman with Truist.

    我們的下一個問題來自 Truist 的 Terry Tillman。

  • Terrell Frederick Tillman - Research Analyst

    Terrell Frederick Tillman - Research Analyst

  • Gregg and Sarah, and congrats on the UB traction. I just had a couple of questions. It seems like with UB Pro and some of these enhancements like cohort learning, immersive learning. I think you all mentioned that those were added to some of these kind of signature wins in the quarter or renewals. This seems like this could be a pretty meaningful uplift on UB deals. So what is the typical uplift you're seeing so far where UB Pro is being attached? And then how much have you actually kind of made this programmatic selling and gone back to base and comfortable in selling in new deals? And then I had a follow-up.

    格雷格和莎拉,祝賀 UB 牽引力。我只是有幾個問題。似乎與 UB Pro 和其中一些增強功能(如隊列學習、沉浸式學習)類似。我想你們都提到了這些是在本季度或續約中添加到其中一些簽名勝利中的。這似乎是對 UB 交易的一個非常有意義的提升。那麼到目前為止,您在連接 UB Pro 的地方看到的典型提升是什麼?然後,您實際上做了多少這種程序化銷售並回到基地並在新交易中進行銷售?然後我進行了跟進。

  • Sarah Walter Blanchard - CFO

    Sarah Walter Blanchard - CFO

  • Great questions. So we are still, as we've discussed, kind of seeding the market with these and some of these upsells really are smaller portions of the seats while our customers are testing it out. And I think they're ramping nicely. But too early to sort of give any uplift numbers. We are and have been sort of enabling our sales force to sell kind of a solution set to our customers comprehensively. And so we're hoping to continue to see that ramping and taking hold over the next few quarters.

    好問題。因此,正如我們所討論的那樣,我們仍然在用這些來播種市場,而其中一些加售實際上只是座位的一小部分,而我們的客戶正在對其進行測試。而且我認為他們的發展勢頭很好。但現在給出任何提升數字還為時過早。我們現在並且一直在使我們的銷售人員能夠全面地向我們的客戶銷售某種解決方案。因此,我們希望在接下來的幾個季度中繼續看到這種增長並佔據主導地位。

  • Terrell Frederick Tillman - Research Analyst

    Terrell Frederick Tillman - Research Analyst

  • Okay. Great. And maybe a follow-up. I don't know if this is for you, Sarah or Gregg. But I'm kind of curious about like network effects in your business now. Particularly in Asia Pac, you seem like you have some interesting new nuggets for us every quarter. But I think you're setting a precedent whether you like it or not. You all had some large Japanese corporation deals, now you're working with municipalities. Whether it's Japan or maybe an update on South Korea or China, just how would you kind of characterize where you are on maybe creating these kind of halo effects or network effects where you're becoming kind of like a brand of choice in those markets?

    好的。偉大的。也許還有後續。我不知道這是給你的,莎拉還是格雷格。但我現在對你們業務中的網絡效應有點好奇。尤其是在亞太地區,您似乎每個季度都會為我們提供一些有趣的新掘金。但我認為無論你喜不喜歡,你都在開創先例。你們都有一些大型日本公司交易,現在你們正在與市政當局合作。無論是日本,還是韓國或中國的最新消息,你如何描述你所處的位置,或者創造這種光環效應或網絡效應,讓你成為那些市場上的首選品牌?

  • Gregg Andrew Coccari - Chairperson of the Board of Directors, President & CEO

    Gregg Andrew Coccari - Chairperson of the Board of Directors, President & CEO

  • Yes. We absolutely believe that there's a network effect to this business. That as we are very well established in Japan. Japan continues to be one of our fastest growing markets. Our relationship with Benesse is very strong, and we're building it out, and it's very exciting to be around. But it's also helping us in Korea. We've only been there for 2 quarters, but we reached 100 -- we reached $1 million ARR in Q2 -- in the second quarter in South Korea. But we also had a couple of large corporations, too.

    是的。我們絕對相信這項業務存在網絡效應。因為我們在日本已經很成熟了。日本仍然是我們增長最快的市場之一。我們與 Benesse 的關係非常牢固,並且我們正在建立它,而且很令人興奮。但它也在幫助我們在韓國。我們只在那里呆了兩個季度,但我們在第二季度在韓國達到了 100 - 我們在第二季度達到了 100 萬美元的 ARR。但我們也有幾家大公司。

  • So we've got a couple of anchor tenants. And so we feel real good about that. In Japan -- excuse me, in China, we're building the pipeline, but it feels very strong. It feels very good. So we are seeing network effects in Asia for sure. But I think we've seen this historically in other places.

    所以我們有幾個主力租戶。所以我們對此感覺很好。在日本——對不起,在中國,我們正在建設管道,但感覺非常強大。感覺非常好。因此,我們肯定會看到亞洲的網絡效應。但我認為我們在其他地方歷史上已經看到了這一點。

  • Operator

    Operator

  • Our next question comes from Jason Celino with KeyBanc.

    我們的下一個問題來自 KeyBanc 的 Jason Celino。

  • Devin Au - Associate

    Devin Au - Associate

  • This is actually Devin on for Jason tonight. It sounds like Udemy Business is firing in all cylinders. But just given the macro backdrop in Europe and a lot of investors are zooming in on that, curious to hear what you're seeing in that region in your Udemy Business. Are you seeing deals getting delayed or pushed out? Just curious to hear any commentary on that.

    這實際上是傑森今晚的德文。聽起來 Udemy Business 正在全力以赴。但考慮到歐洲的宏觀背景,很多投資者都在關注這一點,很想知道你在 Udemy 業務中在該地區看到了什麼。您是否看到交易被推遲或推遲?只是好奇聽到對此的任何評論。

  • Gregg Andrew Coccari - Chairperson of the Board of Directors, President & CEO

    Gregg Andrew Coccari - Chairperson of the Board of Directors, President & CEO

  • Yes. We actually had a very strong quarter in EMEA in Udemy Business. So -- and they've been consistently very, very strong for us. And so we had another very good quarter. What we did see was a little softness in the small business segment. So as the first time we've seen a little bit of that. And -- but other than that, the large corporations, the large enterprises did very, very well. So it was just one segment of Europe was a little bit soft.

    是的。實際上,我們在 Udemy Business 在 EMEA 的季度表現非常強勁。所以 - 他們一直對我們非常非常強大。所以我們有另一個非常好的季度。我們確實看到了小型企業領域的一些疲軟。因此,這是我們第一次看到這種情況。而且 - 但除此之外,大公司,大企業做得非常非常好。所以它只是歐洲的一部分有點軟。

  • Devin Au - Associate

    Devin Au - Associate

  • Got it. That's good to hear. And then just one more. I know there's a lot of emphasis on profitability by investors recently. Has there been any sort of reevaluation to Udemy's strategy or framework around profitability targets recently. Just want to hear some thoughts on that.

    知道了。聽起來還不錯。然後只有一個。我知道最近投資者非常重視盈利能力。最近是否對 Udemy 圍繞盈利目標的戰略或框架進行了任何形式的重新評估。只是想听聽對此的一些想法。

  • Sarah Walter Blanchard - CFO

    Sarah Walter Blanchard - CFO

  • Yes. So we've always been focused on driving toward profitability. At the same time, we are making targeted investments. We continue to see really strong demand in Udemy Business. So we're very thoughtfully building out that go-to-market team and obviously watching very closely. And on the R&D side, investing in things that we believe are going to drive a long-term improvement in our LTV.

    是的。因此,我們一直專注於推動盈利。同時,我們也在進行有針對性的投資。我們繼續看到 Udemy Business 的需求非常強勁。因此,我們非常周到地建立了進入市場的團隊,並且顯然非常密切地關注。在研發方面,投資於我們認為將推動 LTV 長期改善的事物。

  • So I would say we have always had a focus on profitability. Obviously, there was some macroeconomic uncertainty. We're trying to make sure we're being very prudent and very targeted. But we're still investing where we believe that makes sense from a unit economics perspective.

    所以我想說我們一直關注盈利能力。顯然,宏觀經濟存在一些不確定性。我們正在努力確保我們非常謹慎且非常有針對性。但我們仍在投資我們認為從單位經濟學的角度來看有意義的地方。

  • Operator

    Operator

  • Our next question comes from Josh Baer with Morgan Stanley.

    我們的下一個問題來自摩根士丹利的 Josh Baer。

  • Joshua Phillip Baer - Equity Analyst

    Joshua Phillip Baer - Equity Analyst

  • Congrats on the strong quarter. Wanted to ask a few more on margins and maybe start on the outperformance in Q2. I was hoping you could quantify the pullback in marketing spend or give a little more context on what made you decide to pull back on marketing spend? And then as far as the outperformance, was it mostly that and just generally the strong segment gross margins or any other moving pieces in Q2?

    祝賀強勁的季度。想再問一些關於利潤率的問題,也許從第二季度的出色表現開始。我希望您可以量化營銷支出的回落,或者提供更多背景信息來說明您決定回落營銷支出的原因?然後就表現而言,主要是這種情況,而且通常只是強勁的細分毛利率或第二季度的任何其他變動因素?

  • Sarah Walter Blanchard - CFO

    Sarah Walter Blanchard - CFO

  • Yes, great question. So the majority of the outperformance was pulling back on the direct marketing spend. Earlier on, we saw some softness in conversions. We actually saw in May and June many of those conversions have come back and are looking good. And there were some project spend as well that, just as we're watching the macroeconomic environment, we're trying to be really, really step with our spend.

    是的,很好的問題。因此,大部分的出色表現都是在縮減直銷支出。早些時候,我們看到轉化率有所下降。實際上,我們在 5 月和 6 月看到其中許多轉換已經恢復並且看起來不錯。還有一些項目支出,正如我們正在觀察宏觀經濟環境一樣,我們正試圖真正、真正地與我們的支出同步。

  • So I would say nothing unusual, just trying to run the business. We do -- we're very careful with our marketing ROI, and we run it by channel, by country. We have a pretty sophisticated machine over there. So continuing to progress that. And I think in the third quarter, if we -- if those conversion rates hold up, we might be leaning in a little bit more there where it makes sense, obviously, with the long-term bottom line in mind.

    所以我想說沒有什麼不尋常的,只是想經營業務。我們確實這樣做了——我們對我們的營銷投資回報率非常謹慎,我們按渠道、按國家/地區運行它。我們那邊有一台相當精密的機器。所以繼續推進。而且我認為在第三季度,如果我們 - 如果這些轉換率保持不變,我們可能會更傾向於在有意義的地方,顯然,考慮到長期的底線。

  • Joshua Phillip Baer - Equity Analyst

    Joshua Phillip Baer - Equity Analyst

  • Got it. Yes, that's the next question on Q3 and just more generally the back half. I mean with that outperformance in Q2, you just did minus 5% margin in the first half and then guidance is for minus 13% in Q3. And then that implies minus 20%, I believe, in Q4.

    知道了。是的,這是第三季度的下一個問題,更普遍的是後半部分。我的意思是,由於第二季度的出色表現,上半年的利潤率僅為負 5%,然後第三季度的指導為負 13%。我相信,這意味著第四季度的負20%。

  • So like maybe going -- leaning back into direct marketing spend, we've heard about the R&D investments. I mean, but anything else broadly to -- and as far as investment areas or any other moving pieces, just surround that decline in the EBITDA margin?

    所以就像可能會 - 回到直接營銷支出,我們聽說了研發投資。我的意思是,但其他任何廣義上的 - 就投資領域或任何其他移動部分而言,只是圍繞 EBITDA 利潤率的下降?

  • Sarah Walter Blanchard - CFO

    Sarah Walter Blanchard - CFO

  • Yes. The other moving piece is our go-to-market team. So we had some great success in Q2, bringing on some talent across the regions that we're still seeing more demand than we can handle. And so those expenses are sitting Q3 as those teams are ramping up. But nothing unusual. Same on the R&D side where we were able to bring in some key skill sets that we have been looking for in the second quarter.

    是的。另一個動人的部分是我們的上市團隊。所以我們在第二季度取得了一些巨大的成功,在我們仍然看到需求超出我們能力的地區引進了一些人才。因此,隨著這些團隊的增加,這些費用在第三季度。但沒有什麼不尋常的。在研發方面也是如此,我們能夠引入我們在第二季度一直在尋找的一些關鍵技能。

  • Operator

    Operator

  • Our next question comes from Brett Knoblauch with Cantor Fitzgerald.

    我們的下一個問題來自 Brett Knoblauch 和 Cantor Fitzgerald。

  • Brett Anthony Knoblauch - Research Analyst

    Brett Anthony Knoblauch - Research Analyst

  • Just 2 for me. First, I know you guys added 5 new currencies or support from 5 new currencies in the quarter. Can you talk about what you initially see when you announced support for those currencies? Is it just for companies that pay in their local currency and maybe see an uptick in demand?

    對我來說只有2個。首先,我知道你們在本季度添加了 5 種新貨幣或 5 種新貨幣的支持。您能談談您宣布支持這些貨幣時最初看到的情況嗎?是否僅適用於以當地貨幣支付並可能看到需求上升的公司?

  • Gregg Andrew Coccari - Chairperson of the Board of Directors, President & CEO

    Gregg Andrew Coccari - Chairperson of the Board of Directors, President & CEO

  • It's really on the consumer side that we're adding the currencies. So -- and when you add currencies, what you see is an uptick in the conversion rates. So that's why we keep adding currencies. And so we added -- it's a fairly simple math. We can see the conversions are, we can see new payment methods. If we could add 5% conversions in a country, we will do that. So this is the never-ending story. We've been working on currencies for over a decade. And we just actually those teams have gotten bigger because the opportunities are, of course, global.

    我們添加貨幣實際上是在消費者方面。所以——當你添加貨幣時,你看到的是轉換率的上升。這就是我們不斷添加貨幣的原因。所以我們補充說——這是一個相當簡單的數學。我們可以看到轉換是,我們可以看到新的付款方式。如果我們可以在一個國家/地區增加 5% 的轉化率,我們就會這樣做。所以這是一個永無止境的故事。十多年來,我們一直在研究貨幣。而且我們實際上這些團隊已經變得更大,因為機會當然是全球性的。

  • Brett Anthony Knoblauch - Research Analyst

    Brett Anthony Knoblauch - Research Analyst

  • Understood. That makes sense. And then on one of the large deals you guys flagged as you replace a competitor, there's just some insights into the customer's decision there. Was it price driven? Or is that a combination of those? And I guess, broadly speaking, have you seen any changes in the competitive landscape? Or are you still winning a similar amount or a fair share?

    明白了。那講得通。然後在你們替換競爭對手時標記的一項大宗交易中,只有一些關於客戶決定的見解。是價格驅動的嗎?或者是這些的組合?我想,從廣義上講,您是否看到競爭格局發生了任何變化?還是您仍在贏得類似金額或公平份額?

  • Gregg Andrew Coccari - Chairperson of the Board of Directors, President & CEO

    Gregg Andrew Coccari - Chairperson of the Board of Directors, President & CEO

  • Yes. We haven't seen a lot of change in the competitive landscape. We typically don't win on -- price is not usually the answer either. It's engagement. We win -- we go head to head, and it's the quality of the content, it's the depth of the content, it's the 13 local languages. And we add over 400 courses a month to Udemy Business. So it gets bigger and bigger, fresher and fresher, better and better. And that's why we win. And typically, we have people that are under pricing us. And so we're winning and we're winning our fair share. So our close rates are, if anything, a little bit better.

    是的。我們還沒有看到競爭格局發生很大變化。我們通常不會贏——價格通常也不是答案。是訂婚。我們贏了——我們正面交鋒,這是內容的質量,是內容的深度,是 13 種當地語言。我們每月向 Udemy Business 添加超過 400 門課程。所以它變得越來越大,越來越新鮮,越來越好。這就是我們獲勝的原因。通常情況下,我們有些人對我們定價過低。所以我們贏了,我們贏得了公平的份額。因此,如果有的話,我們的收盤價會好一點。

  • Operator

    Operator

  • Our next question comes from Ryan MacDonald with Needham.

    我們的下一個問題來自 Ryan MacDonald 和 Needham。

  • Matthew Dineen Shea - Research Analyst

    Matthew Dineen Shea - Research Analyst

  • This is Matt Shea on for Ryan. I wanted to start on the Consumer segment. So going back to the currency and pricing and promotion updates, how do those changes impact the gross margin within the consumer business?

    這是 Ryan 的 Matt Shea。我想從消費者領域開始。那麼回到貨幣、定價和促銷更新,這些變化如何影響消費者業務的毛利率?

  • Sarah Walter Blanchard - CFO

    Sarah Walter Blanchard - CFO

  • So our -- the biggest piece of our cost of revenue are the instructor costs, and those are a take rate. And so as we're doing pricing changes and promotion changes, because it's a take rate, it doesn't really impact the gross margin too much.

    所以我們 - 我們收入成本的最大部分是教師成本,這些是收取率。因此,當我們進行定價更改和促銷更改時,因為這是一個接受率,它並不會真正影響毛利率太多。

  • Matthew Dineen Shea - Research Analyst

    Matthew Dineen Shea - Research Analyst

  • Got it. That makes sense. Okay. And then appreciating all the updates around Udemy Business and the tailwinds that you guys have behind you, what kind of impacts are you seeing from the potentially weakening macro that could cause seat-based decline because of layoffs or tightening budgets? Just kind of trying to get a sense of what negatives are built into the guidance?

    知道了。那講得通。好的。然後感謝有關 Udemy Business 的所有更新以及你們背後的順風,您從可能因裁員或收緊預算而可能導致座位下降的潛在疲軟宏觀中看到什麼樣的影響?只是想了解指導中包含哪些負面因素?

  • Gregg Andrew Coccari - Chairperson of the Board of Directors, President & CEO

    Gregg Andrew Coccari - Chairperson of the Board of Directors, President & CEO

  • We haven't seen a lot of impact. The fact is we are only in 10% of the seats, potential seats in our current customers. So our land and expand strategy is working very, very well. And you can see that from our net retention. So we think that there's -- in this environment, that gets more difficult. That the fact is because we have a very effective, efficient high ROI product that we will define in this environment.

    我們還沒有看到很大的影響。事實上,我們只佔現有客戶的 10% 的席位,即潛在席位。所以我們的土地和擴張戰略運作得非常非常好。您可以從我們的淨留存率中看出這一點。所以我們認為有 - 在這種環境下,這變得更加困難。這是因為我們有一個非常有效、高效的高 ROI 產品,我們將在這種環境中定義它。

  • Operator

    Operator

  • Our next question comes from Arvind Ramnani with Piper Sandler.

    我們的下一個問題來自 Arvind Ramnani 和 Piper Sandler。

  • Arvind Anil Ramnani - MD & Senior Research Analyst

    Arvind Anil Ramnani - MD & Senior Research Analyst

  • So I just wanted to ask about the overall strength in your business segment. Certainly, you provided some color, but I wanted to really ask sort of what are you seeing in terms of your overall pipeline now versus 6 months ago?

    所以我只想問一下你們業務部門的整體實力。當然,您提供了一些顏色,但我真的想問一下您現在與 6 個月前相比,您的整體管道有何看法?

  • And secondly, is there any sort of change in conversations you've had with clients now versus 6 months ago? And then I have a follow-up after that.

    其次,與 6 個月前相比,您現在與客戶的對話是否有任何變化?然後我有一個後續行動。

  • Gregg Andrew Coccari - Chairperson of the Board of Directors, President & CEO

    Gregg Andrew Coccari - Chairperson of the Board of Directors, President & CEO

  • We're seeing continued strength in our Udemy Business. We're adding -- why we keep adding more people, why we keep adding more to our go-to-market teams. Our pipeline is bigger than it was 6 months ago, so it continues to grow. As we keep adding go-to-market people and we keep scaling well, our pipeline keeps building. So the business looks very strong at this point.

    我們看到 Udemy 業務的持續實力。我們正在增加——為什麼我們不斷增加更多的人,為什麼我們不斷增加我們的上市團隊。我們的管道比 6 個月前更大,所以它還在繼續增長。隨著我們不斷增加進入市場的人員並且我們不斷擴大規模,我們的管道也在不斷建立。因此,在這一點上,業務看起來非常強大。

  • Arvind Anil Ramnani - MD & Senior Research Analyst

    Arvind Anil Ramnani - MD & Senior Research Analyst

  • Terrific. And then with some companies looking to kind of conserve costs, I mean, certainly, we've seen a lot of like layoffs and focus on operating efficiency. Are you all benefiting from consolidation where a particular client may be using 2 or 3 education providers and -- but they're kind of like consolidating their spend with 1 provider. Are you seeing any benefit or any headwind from that consolidation?

    了不起。然後,對於一些希望節省成本的公司,我的意思是,當然,我們已經看到了很多類似的裁員和關注運營效率的情況。你們是否都從合併中受益,其中特定客戶可能使用 2 或 3 個教育提供者,並且 - 但他們有點像將他們的支出與 1 個提供者合併。您是否從該整合中看到任何好處或任何不利因素?

  • Gregg Andrew Coccari - Chairperson of the Board of Directors, President & CEO

    Gregg Andrew Coccari - Chairperson of the Board of Directors, President & CEO

  • We really haven't seen that at this point. I think it's too early for us to see that kind of an impact. So there's -- we really haven't. So our close rates continue to be very high. Our net retention --

    在這一點上,我們真的沒有看到這一點。我認為現在看到這種影響還為時過早。所以有 - 我們真的沒有。所以我們的收盤率仍然很高。我們的淨留存率——

  • Operator

    Operator

  • Ladies and gentlemen, this concludes today's comments.

    女士們,先生們,今天的評論到此結束。

  • Gregg Andrew Coccari - Chairperson of the Board of Directors, President & CEO

    Gregg Andrew Coccari - Chairperson of the Board of Directors, President & CEO

  • So we really haven't seen a huge effect at this point.

    所以我們在這一點上真的沒有看到巨大的影響。

  • Operator

    Operator

  • That concludes today's question-and-answer session. Ladies and gentlemen, this concludes today's conference. Thank you for participating. You may now disconnect.

    今天的問答環節到此結束。女士們,先生們,今天的會議到此結束。感謝您的參與。您現在可以斷開連接。