Udemy Q1 revenue $200.3M (+2% YoY), adjusted EBITDA $21.1M, exceeds guidance

Udemy, Inc.

2025-Q1 EPS reported -$0.01 revenue$200,300,000

Revenue $200.3M (+2% YoY, 2pp FX headwind); enterprise +9% to $127.7M, consumer -8% to $72.6M.
Adjusted EBITDA $21.1M (11% margin) vs $6.5M (3%) a year ago; net loss improved to $1.8M from $18.3M.
UB ARR $519M (+8%), net dollar retention 96% vs 104% prior; added ~120 net enterprise customers.
Free cash flow positive $7.1M; cash & securities $358.1M.
Launched Career Accelerators AI-powered learning paths; partnered with Ingram Micro India.

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