SAN FRANCISCO, April 12, 2024 (GLOBE NEWSWIRE) -- Udemy (Nasdaq: UDMY), a leading online skills marketplace and learning platform, today announced it will report its first quarter 2024 financial results after the close of market on Thursday, May 2, 2024. Udemy will host a live conference call and webcast to discuss the results that afternoon at 2 p.m. PT / 5 p.m. ET. A link to the live webcast and recorded replay of the conference call will be available on the “Quarterly Results” section of Udemy’s Investor ...

The partnership seeks to help millions of current and aspiring developers upskill on key Kubernetes disciplines to enhance their level of cloud native proficiency PARIS, March 21, 2024 /PRNewswire/ -- KubeCon + CloudNativeCon Europe -- The Cloud Native Computing Foundation® (CNCF®), which builds sustainable ecosystems for cloud native software, has partnered with Udemy (Nasdaq: UDMY), a leading online skills marketplace and learning platform. Announced at KubeCon + CloudNativeCon Europe 2024, this new partn ...

SAN FRANCISCO, March 20, 2024 (GLOBE NEWSWIRE) -- Udemy (NASDAQ:UDMY), a leading online skills marketplace and learning platform, today announced it will host a virtual demonstration of Udemy's recently launched Intelligent Skills Platform, as well as a preview of the company's generative AI roadmap. The demonstration will be followed by a question-and-answer session with Udemy's Chief Product Officer, Prasad Raje. Date:Wednesday, April 3Time:8:00 a.m. PT / 11:00 a.m. ET   Individuals interested in particip ...

SAN FRANCISCO--(BUSINESS WIRE)--Udemy (Nasdaq: UDMY), a leading online skills marketplace and learning platform, today announced the launch of its GenAI Skills Pack to support organizations around the world with the rapid adoption and implementation of in-demand generative AI (GenAI) skills. The GenAI Skills Pack includes curated content, emerging skills, and learning paths correlated to specific objectives to empower organizations globally with the most effective and efficient way to develop GenAI skills i ...

Financial Performance - For the fiscal year ended December 31, 2023, the company incurred net losses of $107.3 million, $153.9 million, and $80.0 million in the previous two fiscal years, with an accumulated deficit of $719.7 million as of December 31, 2023[102]. - Total revenue for the fiscal year ended December 31, 2023, was $728,937,000, representing a 15.8% increase from $629,097,000 in 2022[387]. - Gross profit for 2023 was $419,339,000, up from $353,777,000 in 2022, indicating a gross margin improvement[387]. - Net loss attributable to common stockholders decreased to $107,294,000 in 2023 from $153,875,000 in 2022, reflecting a 30.3% reduction in losses[387]. - Basic and diluted net loss per share improved to $(0.71) in 2023 compared to $(1.09) in 2022[387]. - Operating expenses for 2023 totaled $541,234,000, an increase from $504,967,000 in 2022, primarily driven by higher sales and marketing costs[387]. - Cash flows used in operating activities for 2023 were $2,005,000, significantly improved from $60,957,000 in 2022 and $7,104,000 in 2021[396]. - The company has incurred net operating losses (NOLs) since inception and expects to continue incurring losses in the near future, posing a risk that existing NOLs could expire unused[209]. Workforce and Diversity - The company had 1,443 full-time employees as of December 31, 2023, following a reduction in force of approximately 10% in February 2023 due to macroeconomic conditions[96]. - 95% of employees engaged in learning on the company's platform during the fiscal year ended December 31, 2023, highlighting a strong internal focus on upskilling[94]. - As of December 31, 2023, 45% of the global workforce, 38% of senior leadership, and 27% of the technical workforce identified as women, reflecting the company's commitment to diversity[95]. Market and Competition - The company faces competition from various online learning platforms, including corporate training offerings and free online resources, which may impact its market position[114]. - The company expects broader societal and macroeconomic conditions, such as inflation and economic uncertainty, to influence the growth of the online learning market[118]. - The company has experienced elongated sales cycles for its Udemy Business offerings due to budget tightening amid economic uncertainty[108]. Revenue and Business Model - Revenue from the Enterprise segment represented 58%, 50%, and 36% of total revenue for the fiscal years ended December 31, 2023, 2022, and 2021, respectively[113]. - The company announced a change in its revenue share model with instructors effective at the beginning of 2024, which may lead to content being unpublished or instructors leaving the platform[112]. - The company generated 60%, 59%, and 61% of its revenue outside of North America for the fiscal years ended December 31, 2023, 2022, and 2021, respectively[140]. Strategic Initiatives - Strategic partnerships, such as the one with McLaren Racing, are crucial for increasing brand awareness and revenue growth[120]. - The company plans to continue expanding its international operations, which currently include locations in Ireland, Turkey, Australia, and India[139]. - The company has implemented new programs covering Human Rights, Supplier Diversity, and Ethical Sourcing during the fiscal year ended December 31, 2023, enhancing its ESG initiatives[98]. Compliance and Regulatory Risks - The company is subject to various laws and regulations worldwide, and failure to comply could adversely affect its business and financial condition[146]. - The company is subject to anti-bribery and anti-corruption laws, which could lead to penalties and adverse consequences if violated[155]. - Compliance with the EU General Data Protection Regulation (GDPR) may result in fines of up to €20 million or 4% of annual global revenue for violations[164]. - The company may incur significant expenses to comply with evolving privacy, data protection, and cybersecurity standards[170]. Financial Position and Assets - As of December 31, 2023, the company had $305.6 million in cash and cash equivalents and $171.4 million in marketable securities[372]. - The company did not hold any long-term debt during the fiscal years ended December 31, 2023, 2022, or 2021[372]. - Total current assets increased to $632,328,000 in 2023 from $615,014,000 in 2022, showing a growth of 2.1%[385]. - Total liabilities decreased to $384,304,000 in 2023 from $398,258,000 in 2022, a reduction of 3.5%[385]. Intellectual Property and Technology - The company faces risks related to the protection of its intellectual property, which is essential for maintaining its competitive advantage[188]. - The company holds a limited number of issued patents, which restricts its ability to prevent competitors from implementing similar technologies[190]. - The company relies on confidentiality agreements to protect its proprietary technologies, but these may not be sufficient to prevent unauthorized use[191]. Shareholder Matters - As of December 31, 2023, directors, executive officers, and significant stockholders beneficially owned approximately 43% of the outstanding common stock, allowing them to exert significant control over corporate matters[227]. - The company has authorized a share repurchase program of up to $100 million, which may affect the stock price and increase volatility[228]. - The company does not anticipate paying dividends in the foreseeable future, relying on share price appreciation for stockholder returns[225].

SOPA Images/LightRocket via Getty Images Overview I previously rated buy rating for Udemy (NASDAQ:UDMY) as I expected UDMY to continue growing EBITDA strongly, which support UDMY to trade at the same valuation as peers. My previous call recommendation played out well as the stock surged to $16 in mid-Dec 2023, surpassing my target price. I believe the share price decline post the result has presented another buying opportunity, as such, my recommendation for UDMY is a buy rating. I believe the issue with UD ...

Shares of online learning platform operator Udemy (UDMY -21.82%) sank on Thursday after the company reported its results for 2023's fourth quarter. Most of the numbers looked pretty good, but management's cautious outlook and gentle warning regarding operating expenses seem to have spooked the market. As of 1:15 p.m. ET, Udemy stock was down 23%.Good numbers overshadowed by fearsIn 2023, Udemy's revenue rose 16% to $729 million, boosted by higher-than-expected Q4 revenue of $190 million. And for the first t ...

Udemy, Inc. (NASDAQ:UDMY) Q4 2023 Earnings Conference Call February 14, 2024 5:00 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 ...

Udemy, Inc. (NASDAQ:UDMY) Q4 2023 Earnings Conference Call February 14, 2024 5:00 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 ...

For the quarter ended December 2023, Udemy, Inc. (UDMY) reported revenue of $189.55 million, up 14.7% over the same period last year. EPS came in at $0.02, compared to -$0.16 in the year-ago quarter.The reported revenue represents a surprise of +2.07% over the Zacks Consensus Estimate of $185.71 million. With the consensus EPS estimate being -$0.02, the EPS surprise was +200.00%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall S ...