highlights cover the our financial I'll you, key Thank and Eren. outlook.
complete website. our the find can of You on release financial in news Relations Investor tables our set
the to are financial We with strong pleased end year results.
outperformed of negative revenue X% For margin. percentage guidance from the percentage $XXX impact both FX our points was revenue points. Within consumer of the including on growth impact and million segments' increased year-over-year, full X year, a for both Business of Udemy X%, negative a adjusted for X Revenue we including XX% from EBITDA FX year, rate. while that, down increased revenue
just EBITDA, we've exciting delivered nearly EBITDA the $XX an far even for resilience our XXXX of execute dynamic of bottom the a how million in X come in years, On of so margin.
What's priorities on loss model environment. in execution That particularly X% $XX amid or we in us which million a a and Greg a strategy our we XXXX, to we disciplined outlook, our be in I'll adjusted will having moment. adjusted is to the delivered said, line, remain measured out, macroeconomic year laid business transition get our strategic testament as
Now FX focusing year With of nearly Fourth our rates. annual $XXX I'll Business year-over-year review including up million, X was fourth a year percentage ARR, U.S., point changes ARR We we was the the of up total percentage in a recurring of revenue, from than ended the Udemy had results. while the quarter increase a of enterprises growth an Udemy year-over-year, year-over-year $XXX large rate ago, million, Business to or our increased with XX%. headwind XX% highlights, from to revenue from revenue million. quarter X% of XX% for revenue from X XX% outside $XXX negative from coming impact points. quarter more the on FX
base large increasing customer quarter. point net approximately X% global more year-over-year. dollar Udemy single retention only Business encouraged that added X,XXX this we year-over-year new to and decline are an customers, XXX were Within enterprise We also XX,XXX. For enterprises, large QX, XX% total rate that total, increase our more than for by net both than a experienced we
in our that margin NDRR deeper Udemy as at the periods, rate budget-constrained the was XX% quarter, primarily for has end due XXXX. efforts the of the January at to of dynamics X from The strength while margin went a are relationships change gross to quarter we is came the Our basis points January segment consolidated on fourth Business revenue large take slowed drive was expansion XXX prior expect rate our This again on retention for another rate XX.X%, customers. important instructor lowered XX%, of signaling reflects decline environment.
Gross prior compared will basis for We full into the it year, contribute and for share to up instructor stabilizing. XXX% points customer even of in that to the engagement the effectiveness effect XXX X, which our year. our
which take in As down will tailwind additional next an a our reminder, the margins provide to will XXXX. year, rate to move XX%
Turning to segment. the Consumer
of revenue our purchases vibrant, headwinds, quarter growth somewhat instructors As The decline course the by well million offset driven fourth quarter. was subscriptions. each revenue and impact marketplace during personal Udemy's month year-over-year from added was lower year-over-year courses a as remains X,XXX by basis, over Despite plan down point individual negative X% on $XX X expected, was FX. consumer fourth from percentage a including primarily
QX unless was we well revenue revenue share from down over otherwise. quarter, all last initiatives. basis the as shift for an accounted improvement stated company revenue, primarily savings was margin XXXX. as operating which points improvement was financial revenue continued year than expense Business, of driven change XXX of of year, cost P&L, $XXX basis Total are XX% The total approximately of Udemy XX% year. point by gross the lower by points total of XXX or increase million, note QX non-GAAP, XXX instructor As driven the basis mix metrics to the in XX%, a move QX our that
and in basis ended or income outperformance, delivered of EBITDA a of while adjusted EBITDA cash, recognized marketable We charges XXXX to efficiencies, in XX% net driven X% for revenue, million expansion restricted bottom our initiatives. year-over-year. equivalents, positive of representing $XX and cash flow $XX million, focus cash securities, savings quarter.
Which or better-than-expected $XX $X point revenue. nonrecurring approximately with On was operational restructuring us line, cost approximately The We cash the we result and was on million, by sheet the of XXX nearly million. free balance key revenue our cash, brings Adjusted $XXX items. flow year the was million ongoing
back million shares $XXX management. disciplined also efficiencies, cash to priority operational are with repurchase to to We strategic drive year. program during million through committed buy the we in XX In used line our our expense
ensure scalable flow. Udemy have high model that the generate we past that steps periods of focusing initiatives is returns cash cash even business our generates and in Over few revenue, months, on and deliberate taken macroeconomic is By consistently to support deliver to flow uncertainty. resilient positioned well
of Our converting our greater and revenue predictability. than a more flow.
With of XX% offerings, efforts to visibility Udemy percentage Business we expansion subscriptions, cash and have from including of have now a growing coming revenue personal high meaningful revenue allowed plan subscription-based us and degree into while margin deliver also
how remain capital. deploy ahead, Looking in we we disciplined
the to explore objectives; M&A excess appropriate. business opportunistic that and first, second, Our to priorities shareholders cash in when third, strategic fuel growth; sustainable with reinvest remain: return our aligns
Now XXXX. to for our turn our guidance introduce and outlook to
market We optimistic agile the year evolving are navigating about remain to conditions. cautiously our in and ability ahead
priorities, for while from sustainable, see delivering value on can our to prudently, managing long-term focus is you As costs stakeholders. foundation growth innovation, building accelerating our drive strategic our our profitable and
X% up we FX, from revenue, X XXXX growth, to $XXX remain headwind year full to percentage representing be million $XXX point flat assuming exchange expect million, the a year-over-year rates including range in For to of constant.
implies the FX. X% point Udemy Business from including approximately revenue of midpoint approximately the headwind of purposes, year-over-year, modeling For increases guidance X
reduction expected is As capacity. the in revenue we noted on SMB Business impacted QX our to by growth million sales be $XX Udemy call, XXXX
SMBs. faster expect from grow large that from enterprises revenue to to than We continue
year-over-year, guidance impact For X% a for the down implies FX. X to revenue Consumer, be midpoint negative approximately year of including from percentage the point
heard you revitalizing priority growth Eren, is Greg the marketplace a to and As us. segment for from and returning
On line, to XX% approximately revenue the full at to EBITDA of of million, $XX we the $XX bottom expect adjusted year deliver midpoint. million or
million, our greater XXXX.
With to at year raising for are we million, million revenue the year-over-year into We between expectations first visibility EBITDA respect quarter, given $XX roughly adjusted $XXX full approximately midpoint. to by flat the representing and be expect $XXX growth
impact is Assuming exchange constant, remain rates expected by QX revenue growth percentage X to FX negatively points.
For modeling purposes, the XX% including midpoint negative from of FX. from percentage the increases guidance implies X X% would point X be impact approximately percentage Udemy while negative a revenue year-over-year, Business FX, year-over-year, consumer point revenue impact down a including
$XX we line, of expect bottom million, million $XX EBITDA deliver or approximately of the revenue. to to X% On adjusted
reminder, million OpEx to cost a tied $XX QX our initiatives. includes expenses As some savings redundant
year, while to a and we up our in beyond. have to growth the XXXX expect ahead, Looking XXXX organization improve work transition sets is completed we restructure the us
the EBITDA XXXX in confidence need closing, change on increased progress. our our By $XXX on and upskilling our keeping you have We accelerating continue an at creating approach accelerating advantage a are positioned to to remain $XXX forward workforce opportunity adjusted innovation, updated we in navigate of down XXXX.
In our expanding ahead. to Udemy, in we to opportunity for target as of we massive on of target marketplace doubling between XX% committed an EBITDA unprecedented is pace, adjusted and and for take in margin look growth model profitability. million actions, a significant scalable a efficiency product and we delivering million the balanced Given well environment greater where towards
with we'll questions. So call that, Moderator? your open for the
