Udemy Q3 revenue $184.7M beats guidance; raises FY outlook; plans 5pp cut in instructor share

Udemy, Inc.

2023-Q3 EPS reported -$0.59 revenue$539,392,000

Total revenue $184.7M (+17% YoY), exceeded high end of guidance by $4.7M; Udemy Business $109.1M (+30%).
Adjusted EBITDA positive $8.2M vs -$12.9M last year; second consecutive positive quarter.
Udemy Business ARR $443.1M (+26% YoY); 15,378 total customers; surpassed 100,000 paid Personal Plan subscribers.
Plans to reduce instructor revenue share from 25% to 15% by 2026, first cut to 20% effective Jan 1, 2024.
Raised full-year 2023 outlook; cash and marketable securities $483M.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Udemy, Inc. reported the quarter ended September 30, 2023 results: revenue $184.7 million, net income $(16.8) million. Guidance raised.

Period: the quarter ended September 30, 2023
Revenue: $184.7 million
Net income: $(16.8) million
Guidance: raised
Result: reported results

Exact text from the filing

and progressing toward our long-term profitability targets.” Third quarter 2023 financial performance highlights include: • Total revenue increased 17% year-over-year to $184.7 million and exceeded the high end of the guidance range for the quarter by $4.7 million. Revenue growth includes a negative impact of 1 percentage point from changes in foreign exchange

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Source: SEC EDGAR

accession 0001607939-23-000184

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