Udemy, Inc. (NASDAQ:UDMY) Q3 2023 Earnings Call Transcript

Devin Au : Hi, Greg. Hi, Sarah. Thanks for filling me in. Just one question and also I just want to ask about the instructor revenue share. With that structure kind of going from 25% down to 15% over the years. How does the revised structure maybe stack up against kind of the other players in the industry? Just any color you can provide on that? Thanks.

Sarah Blanchard : Yeah, it’s a great question. And I think I would also remind everyone that we don’t just have the instructive revenue share on the Udemy Business side, but all the instructors that sit in our subscription business, sit in our marketplace, and they’re able to enjoy well above market of 37%. So when you look at the combined, it is still a very, very strong revenue share. In addition to that, the access that they have to 67 million learners and growing globally and the access they have to our Udemy Business, which — even though the macro is tough, like we’re winning market share, like we’re in a good spot. So the combination of those, I would say, make it a very attractive place for instructors to come and share their expertise on our platform.

Operator: And this concludes our question-and-answer session. I’d like to turn the conference back over to Greg Brown for any closing remarks.

Greg Brown: I’d just like to thank everybody for joining us on the call and appreciate all of the feedback and questions. And look forward to seeing you again in February.

Operator: The conference is now concluded. Thank you for attending today’s presentation. You may now disconnect your lines.