Udemy, Inc. reported a revenue of $786.6 million for the fiscal year ended December 31, 2024, marking an 8% increase from $728.9 million in the previous year. The growth was primarily driven by an 18% rise in revenue from its Enterprise segment, which accounted for 63% of total revenue, while the Consumer segment saw a 5% decline. The company recorded a net loss of $85.3 million, a reduction from the $107.3 million loss in 2023, reflecting improved operational efficiency and a shift in revenue mix towards higher-margin enterprise offerings.
The company undertook a strategic restructuring plan in September 2024, impacting approximately 280 employees, aimed at enhancing operational efficiencies. This restructuring resulted in $16.7 million in charges, primarily related to severance and other personnel costs. Udemy's total operating expenses increased by 7% to $581.3 million, driven by higher sales and marketing costs, which rose by 8% to $342.9 million, as the company continued to invest in customer acquisition and brand awareness.
Udemy's user base expanded to nearly 77 million learners, with the number of Udemy Business customers increasing to 17,096, up from 15,726 in 2023. The company reported a Net Dollar Retention Rate (NDRR) of 98% for its Enterprise segment, indicating strong customer retention, although this was a decline from 106% in the previous year. The company also noted that its Annual Recurring Revenue (ARR) for Udemy Business reached $516.9 million, up from $466.0 million in 2023.
Geographically, Udemy generated 60% of its revenue outside North America, with significant contributions from Europe, the Middle East, Africa, and Asia Pacific. The company continues to focus on international expansion and localization of its offerings, which includes providing courses in 75 languages. As of December 31, 2024, Udemy had cash and cash equivalents of $190.6 million, down from $305.6 million in the previous year, reflecting ongoing investments in growth and restructuring costs.
Looking ahead, Udemy aims to enhance its platform through the integration of generative AI and machine learning technologies, which it believes will improve user engagement and learning outcomes. The company is also focused on expanding its enterprise customer base and increasing the adoption of its Udemy Business offerings, while managing costs to achieve long-term profitability.
About Udemy, Inc.
About 10-K Filings
A 10-K form is a comprehensive annual report that public companies in the United States must file with the SEC, providing a detailed overview of the company's financial condition, performance, and business strategies.
Key points about the 10-K:
- Frequency: Filed annually, typically within 60 to 90 days after the end of the company's fiscal year.
-
Content: It includes:
- Detailed financial statements audited by an independent accounting firm
- Management's Discussion and Analysis (MD&A) of financial condition and results
- Description of the company's business, properties, and legal proceedings
- Risk factors and market risks
- Executive compensation and corporate governance information
- Importance: Considered the most comprehensive and important document a public company files with the SEC.
- Length: Often exceeds 100 pages due to its extensive and detailed nature.
Our Methodology
AssetRoom is committed to providing timely summaries of news from public companies. We use AI to generate these summaries quickly, but they are not reviewed by human experts.
Our method:
- Data Collection: We continuously monitor for new filings (currently limited to US-listed stocks).
- AI-Powered Analysis: Our advanced AI system processes each filing, identifying key information and extracting relevant data.
- Summary Generation: The AI creates a concise, easy-to-understand summary of the filing, highlighting the most important points.
- Publication: The summary is immediately published on our platform, allowing users instant access to the latest information.
- Email users: We distribute round-up emails according to our users preferences, keeping them in the loop with the companies they follow.
Feedback & Corrections
Spot an error or have a suggestion? Contact us.