Shares of online learning marketplace Udemy (UDMY 33.25%) skyrocketed on Friday after the company released strong financial results for the fourth quarter of 2024. As of 12:15 p.m. ET, Udemy stock was up a whopping 33%.Udemy's profits suddenly surgeAt first glance, investors seem to be overreacting with Udemy stock today. While it did beat expectations on the top and bottom lines, the numbers in isolation weren't necessarily inspiring. For revenue, Udemy generated $200 million, which was only up 5% year ove ...

Udemy, Inc. (NASDAQ:UDMY) Q4 2024 Earnings Conference Call February 13, 2025 5:00 PM ET Company Participants Dennis Walsh – Vice President-Investor Relations Greg Brown – Chief Executive Officer Sarah Blanchard – Chief Financial Officer Eren Bali – Founder and Chief Technology Officer Conference Call Participants Jason Tilchen – Canaccord Genuity Ryan MacDonald – Needham Josh Baer – Morgan Stanley Stephen Sheldon – William Blair Curtis Nagle – Bank of America Connor Passarella – Truist Yi Fu Lee – Cantor Fi ...

4Q & FY24 Earnings Presentation February 13, 2025 1 Safe Harbor Notice This presentation and any accompanying oral commentary include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements other than those of historical fact, including information concerning our future operating results and financial position, anticipated future expenses and investments, business strategies and plans, market growth, market posi ...

For the quarter ended December 2024, Udemy, Inc. (UDMY) reported revenue of $199.94 million, up 5.5% over the same period last year. EPS came in at $0.10, compared to $0.02 in the year-ago quarter.The reported revenue represents a surprise of +2.69% over the Zacks Consensus Estimate of $194.7 million. With the consensus EPS estimate being $0.07, the EPS surprise was +42.86%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street ...

Udemy, Inc. (UDMY) came out with quarterly earnings of $0.10 per share, beating the Zacks Consensus Estimate of $0.07 per share. This compares to earnings of $0.02 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 42.86%. A quarter ago, it was expected that this company would post earnings of $0.01 per share when it actually produced earnings of $0.07, delivering a surprise of 600%.Over the last four quarters, the company has su ...

Revenue Performance - Total revenue for the fiscal year 2024 increased by 8% year-over-year to $786.6 million, with a negative impact of 2 percentage points from foreign exchange rates[5] - Enterprise segment revenue for Udemy Business reached $494.5 million, reflecting an 18% year-over-year increase, also impacted by a 2 percentage point negative effect from foreign exchange rates[5] - Consumer segment revenue decreased by 5% year-over-year to $292.1 million, including a negative impact of 2 percentage points from foreign exchange rates[5] - Udemy's revenue for the three months ended December 31, 2024, was $199,942,000, representing a 5.8% increase from $189,545,000 in the same period of 2023[26] Profitability Metrics - Adjusted EBITDA for the fiscal year 2024 was $43.0 million, representing a 451% increase year-over-year[2] - The gross profit for the fiscal year ended December 31, 2024, was $491,940,000, up from $419,339,000 in 2023, indicating a growth of 17.3%[26] - Udemy reported a net loss of $85,288,000 for the fiscal year 2024, an improvement compared to a net loss of $107,294,000 in 2023, reflecting a reduction of 20.5%[30] - Gross profit for Q4 2024 was $127,205,000, an increase from $109,850,000 in Q4 2023, representing a growth of 15.0%[32] - Non-GAAP gross profit for the fiscal year 2024 reached $500,707,000, up from $429,245,000 in 2023, indicating a year-over-year increase of 16.7%[32] - The net loss for Q4 2024 was $9,864,000, a significant improvement compared to a net loss of $20,248,000 in Q4 2023, reflecting a reduction of 51.2%[34] - Non-GAAP net income for Q4 2024 was $15,531,000, compared to $3,824,000 in Q4 2023, marking an increase of 305.5%[34] - Adjusted EBITDA for Q4 2024 was $19,480,000, a substantial rise from $3,977,000 in Q4 2023, representing a growth of 388.5%[35] Customer Metrics - Total customers increased to 17,096, with nearly 1,400 net new Enterprise customers added in 2024[5] - Monthly average buyers in the consumer segment decreased by 4% year-over-year to 1.32 million[5] Cash Flow and Assets - The company experienced a net cash provided by operating activities of $53,043,000 in 2024, a significant turnaround from a net cash used of $2,005,000 in 2023[30] - The total current assets decreased to $506,328,000 as of December 31, 2024, down from $632,328,000 in 2023, a decline of 20%[28] - Cash and cash equivalents decreased to $190,592,000 from $305,564,000, representing a decline of 37.5% year-over-year[28] Liabilities and Expenses - Total liabilities increased to $408,234,000 as of December 31, 2024, compared to $384,304,000 in 2023, marking a rise of 6.2%[28] - Udemy's operating expenses for the fiscal year 2024 totaled $581,268,000, an increase from $541,234,000 in 2023, which is a rise of 7.4%[26] Strategic Initiatives - The company completed a $150 million share repurchase program, indicating confidence in its long-term strategy[5] - Udemy opened a new office in Mexico City to enhance operations in the LATAM market[5] Future Guidance - The company expects first quarter 2025 revenue to be between $195 million and $199 million, with full year 2025 revenue guidance of $787 million to $803 million[7] Share Metrics - The weighted-average shares used in computing net loss per share for 2024 were 151,320,497, compared to 150,098,776 in 2023, indicating a slight increase in shares[26] - The weighted-average shares used in computing non-GAAP net income per share, diluted, for Q4 2024 was 148,068,999, compared to 162,850,017 in Q4 2023[34] Margins - The gross margin for Q4 2024 improved to 64%, up from 58% in Q4 2023[32] - The net loss margin for Q4 2024 was -5%, an improvement from -11% in Q4 2023[35] - The adjusted EBITDA margin for Q4 2024 was 10%, compared to 2% in Q4 2023, showing a notable increase[35] Investment Metrics - Udemy's strategic investments decreased to $0 from $10,311,000 in 2023, reflecting a complete divestment in this area[28]

Wall Street analysts forecast that Udemy, Inc. (UDMY) will report quarterly earnings of $0.07 per share in its upcoming release, pointing to a year-over-year increase of 250%. It is anticipated that revenues will amount to $194.7 million, exhibiting an increase of 2.7% compared to the year-ago quarter.Over the last 30 days, there has been no revision in the consensus EPS estimate for the quarter. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of t ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to ___________ Commission File Number 001-40956 Udemy, Inc. (Exact Name of Registrant as Specified in its Charter) Delaware ...

ûdemy 1 Earnings Presentation Q3 2024 October 29, 2024 Safe Harbor Notice This presentation and any accompanying oral commentary include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements other than those of historical fact, including information concerning our future operating results and financial position, anticipated future expenses and investments, business strategies and plans, market growth, market p ...

Financial Data and Key Metrics - Revenue grew 6% YoY to $195 million, with a 2-percentage point headwind from FX [9][35] - Adjusted EBITDA margin reached a new record, significantly higher than anticipated [9] - Udemy Business ARR surpassed $500 million, up 14% YoY [10][36] - Gross margin for Udemy Business improved to 74%, up 600 basis points YoY [39] - Consumer revenue declined 8% YoY to $69 million, impacted by FX and lower individual course purchases [39] - Adjusted EBITDA was $12 million, or 6% of revenue, with a 200 basis point expansion YoY [44] Business Line Performance - Udemy Business revenue grew 16% YoY to $126 million, despite a 2-percentage point FX headwind [35] - Large enterprise customers (1,000+ employees) contributed 75% of Udemy Business revenue, with ARR growing 15% YoY [16][36] - SMB ARR grew 11% YoY, but resources are being reallocated to focus on large enterprises [16][36] - Consumer segment saw a decline in revenue, but personal plan subscriptions showed growth [39] Market Performance - Over 60% of total revenue came from outside the US, with FX negatively impacting growth by 2 percentage points [35] - EMEA region showed muted growth, while APAC and LATAM regions performed stronger [105] - The company serves 17,000 Udemy Business customers and 75 million learners across 180 countries [12] Strategy and Industry Competition - The company is shifting focus to large enterprise customers, de-emphasizing SMBs, to optimize resource allocation for higher growth and margins [16] - AI-powered skills mapping and AI Assistant were launched to enhance personalized learning experiences [10][28] - The company aims to achieve $130-$150 million in adjusted EBITDA by 2026 and a 20% adjusted EBITDA margin by 2027 [57] - Generative AI and digital transformation are driving the need for upskilling, presenting a significant market opportunity [19][20] Management Commentary on Operating Environment and Future Outlook - The operating environment remains stable but subdued, with continued scrutiny on corporate budgets [11][65] - The company expects to deliver $70 million in adjusted EBITDA in 2025, with a clear path to its 2026 target [52] - Management is confident in the long-term opportunity for enterprise and individual skills development, particularly in the age of AI [58] Other Important Information - The company achieved $50 million in annualized cost savings, exceeding the initial target of $25 million [13][50] - A $150 million share repurchase program is nearing completion, with $51 million used in Q3 [46] - The company expects restructuring charges of $18 million, primarily related to personnel expenses [44][45] Q&A Session Summary Question: Impact of AI-enabled capabilities on enterprise growth [60] - AI capabilities like skills mapping and AI Assistant are already improving sales cycles and customer engagement, with over 1,000 enterprises adopting these features [61][63] Question: Corporate L&D spending environment [65] - The L&D spending environment remains subdued, but the company sees opportunities to consolidate L&D content and strategy, as evidenced by a 40,000-seat deal with a Fortune 100 tech company [65][67] Question: Growth expectations for Udemy Business in 2025 [71] - The company expects headwinds in 2025 due to reduced SMB capacity and EMEA weakness, but remains confident in long-term double-digit growth for Udemy Business [72][73] Question: Integration with Workday [76] - The integration with Workday maps Udemy Business content to Workday's Skills Cloud, promoting internal mobility and requiring customers to use both platforms [78][80] Question: Impact of new CRO on sales processes [88] - The new CRO is focused on enhancing sales capabilities, particularly in key verticals, with expected impact on growth in 2025 [89][91] Question: Geographical performance and net dollar retention [104][106] - EMEA showed muted growth, while APAC and LATAM performed stronger Net dollar retention is pressured by longer sales cycles and smaller deal sizes, but the company remains focused on driving customer value [105][107] Question: Product roadmap beyond AI [115] - The return of the CTO is expected to accelerate product innovation, with more details to be shared in future announcements [116][117] Question: Expansion within Udemy Business [120] - The company is leveraging its expanded product portfolio, including AI capabilities, to drive larger deals and strategic conversations with enterprise customers [121][123] Question: Sequential net add decline in Udemy Business customers [125] - The decline in net adds is primarily due to the strategic reallocation of resources from SMB to large enterprise customers [126]