From the video Analysis window, click the V1 logo, then the Record a Lesson button. While the lesson is being recorded, you will see a 5 minute countdown-timer in the lower/left, along with the student's name at the bottom of the window.
Before beginning a lesson, you should select the desired device orientation, either portrait or landscape, and you should decide whether or not to compare the student video with a model or another video. Once the lesson begins, you can use Compare, from the V1 logo menu, to select a second video to compare to.
During the lesson, everything that you say, and everything that you do with the video and drawing tools will be recorded.
To end the lesson, touch the V1 logo. You will then be taken to the Lesson Wrap-Up screen.