The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Rishi Nitya Jaluria - RBC Capital Markets, Research Division - Analyst
: Wonderful. Wanted to start by looking at the NRR within the Enterprise segment. Obviously, Enterprise continues to show nice growth, but that
NRR figure did tick down a little bit from Q4. Q4 itself was down from earlier in the year. Can you maybe help us understand some of the drivers of
that number? How much of that is comps versus maybe just mix shift and going more towards government that might have a slower expansion
rate? And then I've got a follow-up.
Question: Rishi Nitya Jaluria - RBC Capital Markets, Research Division - Analyst
: Great. That's really helpful. And then on the Degrees side, I just wanted to turn to looking at the students. Surprisingly, it looks like that number
actually was up about 280 sequentially in spite of you shutting off a number of universities in Russia, and that was a big surprise to us. Can you
maybe talk a little bit about what you're seeing within that segment outside of Russia and specifically within U.S. universities? And then maybe
any insight you'd be able to share on what you expect in the coming academic year, which would fall under this fiscal year?
Question: Stephen Hardy Sheldon - William Blair & Company L.L.C., Research Division - Analyst
: So the consistency of registered learner growth, I think, has been pretty notable. So it would be great to get some more detail on maybe 2 things.
One, what's kind of working on the marketing side to support this and how you're finding learners or, I guess, maybe it's more that they're finding
you? And then two, anything notable about the location and demographics of recent learner additions? Or has it been pretty broad-based?
Question: Stephen Hardy Sheldon - William Blair & Company L.L.C., Research Division - Analyst
: Got it. Yes, that's really helpful. And then just as a follow-up, I just would love an update on where you guys are at in terms of expanding the
availability of local language content on the platform.
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