secwatch.observer — SEC 8-K summary
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Issuer:     Udemy, Inc. (UDMY)
CIK:        0001607939
Form:       8-K
Filed at:   2023-11-02T23:59:59+00:00
Accession:  0001607939-23-000184
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1607939/000160793923000184/0001607939-23-000184-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1607939/000160793923000184/udmy-20231102.htm
  HTML page:      https://secwatch.observer/filing/0001607939-23-000184

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