2024-02-14 22:19:07 ET
Udemy, Inc. (UDMY)
Q4 2023 Earnings Conference Call
February 14, 2024, 05:00 PM ET
Company Participants
Dennis Walsh - VP, IR
Greg Brown - CEO
Sarah Blanchard - CFO
Conference Call Participants
Stephen Sheldon - William Blair
Curtis Nagle - Bank of America
Ryan MacDonald - Needham & Company
Josh Baer - Morgan Stanley
Connor Passarella - Truist Securities
Dave Lustberg - Jefferies
Noah Herman - JPMorgan
Brett Knoblauch - Cantor Fitzgerald
Jeffrey Meuler - Baird
Devin Au - KeyBanc Capital Markets
Arvind Ramnani - Piper Sandler
Presentation
Operator
Hello and welcome to the Udemy Fourth Quarter 2023 Earnings Conference Call. All participants will be in listen-only mode. [Operator instructions] After today's presentation, there will be an opportunity to ask questions. [Operator instructions].
I would now like to hand the call to Dennis Walsh, Vice President, Investor Relations. Please go ahead.
Dennis Walsh
Thank you, MJ. Joining me today are Udemy's Chief Executive Officer, Greg Brown, and Chief Financial Officer, Sarah Blanchard.
During this conference call, we will make forward-looking statements within the meaning of federal securities laws. These statements involve 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. 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.
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 U.S. Generally Accepted Accounting Principles referred to by the Securities and Exchange Commission as non-GAAP financial measures. We believe that these non-GAAP financial measures support management and investors in evaluating our performance and comparing period-to-period results of operation in a more meaningful and consistent manner, as discussed in greater detail in the supplemental schedules to our earnings release. 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 on the investor relations section of our website. A replay of today's call will also be posted on the website.
With that, I will now turn the call over to Greg.
Greg Brown
Thank you, Dennis, and good afternoon to everyone on the call. I will start today with comments on our results, highlight some achievements from 2023, and then provide an update on our strategic priorities for 2024. Udemy closed out 2023 with strong results that exceeded expectations for both revenue and adjusted EBITDA margin. Despite the challenging macroeconomic environment, Udemy increased full-year revenue by 16% year-over-year....
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Udemy, Inc. (UDMY) Q4 2023 Earnings Conference Call Transcript