the outlook highlights financial Thank and cover you, key Greg. our I'll today.
financial which You the complete news can Relations available Investor our find website. of tables is release, in on our set
of revenue our increased year-over-year quarter FX from of increase changes percentage rates. XX% X $XXX an year-over-year the including percentage FX to we impact negative quarter million, X% Third revenue XX% to growth of Business million. from for the $XXX coming total than more our outside had U.S., year-over-year, a of revenue in from Udemy X headwind With rate point a points. was
we with for up year annual XX% Greg of or from ended a million, quarter business. ago, ARR, $XXX a milestone mentioned, revenue, the significant recurring As the
year-over-year, XX% customers X,XXX while those strongest Within large growth. with financial increased are the to that, ARR services, contributing SMB tech grew services, year-over-year. or XX% more manufacturing, or era retail from ARR verticals professional employees, and
where continue We cases array capture we in driving penetration focusing vast a market on of opportunity significant and further share. long-term use sectors to those will see
NDRR, Our end retention consolidated or for The customers. XX%. quarter dollar XXX% was rate, large net at was rate
more on more net global basis up third January base than taking than primarily the XXX from our by for to Within year-over-year historical to pressure longer customer due increased Udemy in dollar to Business revenue net that, by In Udemy customers effect XXX see new share we this driven customers, XX,XXX. the year, increasing the upsells environment. added Business came XX% than XX% quarter, on by instructor that more our base in norms than to continue went at for change retention We this margin our segment Gross points of the quarter, XX% X,XXX. prior large X into year. of
negative down was subscriptions. basis, from percentage FX. was our growth X including on of The primarily million X% and driven a lower personal decline Third course $XX by purchases quarter somewhat offset a consumer individual year-over-year year-over-year point revenue by impact from was plan
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vibrant and remains growth are steps each strong added courses traffic to Although X,XXX taking consumer the we our month, strengthen marketplace with more than offering. being
skills-based offer We continuing certification are marketplace, today's XXX and the the of a and comprehensive investing building breadth career the of on our development depth number needs that in we now marketplace experience programs, and our is learners. meets of suite to grow. Leveraging
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shift was we driven XXX stated gross business total that for otherwise. basis increase of the unless QX year-over-year. note well was share change XXXX. improvement are XXX points mix total QX, down move to basis by non-GAAP, XX% As all an instructor point from P&L, approximately as revenue of Udemy the revenue a metrics XX%, in improvement the financial accounted continued company which The quarter, revenue as margin
As expect approximately margins we driven of for previously to was points revenue. quarter expenses. than XX% basis approximately primarily last [ personnel or X,XXX total Total higher shared, operating was ] QX in of OpEx expense company million and XX% to $XXX XXXX. increase the marketing higher by year, gross
on during million result our or line, expansion adjusted EBITDA and we bottom X% approximately $XX efficiency or point focus XXX by net savings of ongoing The $XX nearly basis revenue, million we representing of Adjusted the implementing the actions year-over-year. operational the driven revenue. On of was EBITDA began cost income better-than-expected was delivered quarter. X% approximately
Approximately We Which charges QX. recognized [ million in restructuring result expenses. $XX million during expect primarily these $XX was actions to of approximately of ]. consists personnel
We XXXX. be million of final will incurred the quarter expect to during another recognize during the $X first charge QX and
with cash brings quarters, key spread marketable by driven equivalents, We the cash basis. Cash quarter which but of payments positive million, ended the Free related be collections the in $XX was and these will timing a on to securities. restricted million third year-to-date us $XX and several across flow quarter flow expenses cash to items. million our cash, sheet cash billings next negative lower was in balance $XXX
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discuss programs. future to with any We Board plans will continue for return our capital
guidance. our to Turning
outlook. are We raising our XXXX full year
revenue, expect million be For FX. the to from the to percentage $XXX in $XXX X point we range negative X% or of nearly midpoint million now at growth including an impact expected
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actions operational drivers. are adjusted from from as the that outlook of $XX are we deliver already of savings the to cost the expect from On our realize now approximately million beginning of we efficiency range margin midpoint year we and bottom the line, full additional approximately by our EBITDA prior overperformance The are to increasing revenue. X.X% QX primary
$XXX year-over-year to and or quarter, revenue approximately the midpoint. we growth million at respect between $XXX fourth to expect be X% million the With
remain rates constant, revenue to negatively impact points. exchange growth percentage QX expected by Assuming is X FX
targeting bottom an margin On the line, of approximately adjusted X% we're EBITDA revenue. of
we plan today, wanted Although call results context next our provide year. on XXXX may our provide guidance our in how formal some for to to unfold February, additional QX we
the cost from annualized as operational have review completed focus growth over our we our result, certain rate. we our $XX our to are million in savings $XX to on aggressive call. purposefully profitability. plan savings efficiencies cost additional earnings locations approximately against In our structural break savings relocating million, of And deliver reducing September, in our from in discussed, Greg optimizing run layers, $XX identified To $XX structure. outlined and related we represents QX structure. comprehensive organizational are a when As first an to shifting down to million lower-cost roles go-to-market million cost This accelerating a
cost to global additional our and serve services, savings an and marketing meet allow identified such organization noble software base. more to million be actions customer expenses, a in you T&E. These professional better other spend, $XX also We as related to
are most that we addition, focusing regions growth potential. and sectors strategy, our In the optimizing represent go-to-market on
see retention deal higher sizes enterprises, we large and and Specifically stronger where upsell growth, larger rates. pipeline
over-delivering are target. some our expect to By back flexibility reduction expense and and in lower-cost the adjusted $XX these as we of we growth EBITDA, in such to geographies million have approximately the into for reinvest initiative, deliver XXXX, to hiring savings clear Turkey. XXXX a on our areas providing of In achieving high-impact India process in roles path key Mexico,
XXXX taken, beyond revenue previously also to reminder, margin of benefit Business have a mix points we from we XXX improvement instructor cost Udemy EBITDA efficiency towards changes and basis approximately that expect and announced gross the share. actions shift adjusted will revenue our from to As structural our
On resources opportunity on year. line, Udemy headwinds in most shift we to XXXX during transition to Business, highlight the we the discrete the wanted revenue top few as growth a to focus large enterprise
combination [ Specifically, EMEA reduction of continued to for XXXX. a Udemy at in ] projections points Business, creating headwind softness a $XX is quota few the of million our the revenue growth overall capacity for in and SMB
cohorts. near provide resources experiencing cohort. insight to in While as continue the will we we of new To forward, customers our additional this these outperform structure, shift going focus on in to market market, on transition are expect teams the progress large we and the to headwinds and highlight effectiveness the focus into term our other we
we side, the next will decline year. consumer revenue in experience we rates that the expect On single-digit high
X growth. headwind approximately our overall points represents against This of
for in investing building we longer with across a we to investments career-based prudent to be related segment, globe. are experience development the continue learners term, Although that
conditions help the done foundation organization restructure success. the expect to while market for navigate will near-term we setting ahead, long-term Looking us work we've the
to million million is expanding $XXX adjusted goal adjusted to by margin XX% XXXX. XXXX in EBITDA and target our continue Our of deliver in towards $XXX EBITDA
shift skill age the and we've enterprise massive efforts to in focus the our of In combined efficiency ongoing opportunity with operational on individual Capturing made, summary, allowing the us in strategic particularly what matters development, are AI. most.
We are our experience confident of customer work globally. business the will that and the strengthen our doing further enhance we are foundation
for we sustainable tell, to Udemy's delivering while all our you As increasing excited about stakeholders. value opportunity creating as ever and ability can and are lead category lasting this profitability growth, future long-term as
open that, up So we'll questions. with call Moderator? your the for
