Udemy (UDMY) Financials

$6.12 +0.02 (+0.33%)

As of 04:00 PM Eastern

Annual Income Statements for Udemy

This table shows Udemy's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2019	2020	2021	2022	2023	2024
Net Income / (Loss) Attributable to Common Shareholders	-70	-78	-80	-154	-107	-85
Consolidated Net Income / (Loss)	-70	-78	-80	-154	-107	-85
Net Income / (Loss) Continuing Operations	-70	-78	-80	-154	-107	-85
Total Pre-Tax Income	-68	-74	-79	-152	-104	-81
Total Operating Income	-68	-73	-78	-151	-122	-89
Total Gross Profit	133	221	280	354	419	492
Total Revenue	276	430	516	629	729	787
Operating Revenue	276	430	516	629	729	787
Total Cost of Revenue	144	209	236	275	310	295
Operating Cost of Revenue	144	209	236	275	310	295
Total Operating Expenses	201	294	358	505	541	581
Selling, General & Admin Expense	40	51	64	99	94	96
Marketing Expense	126	193	227	301	317	343
Research & Development Expense	34	51	66	105	120	125
Restructuring Charge	-	-	0.00	0.00	10	17
Total Other Income / (Expense), net	-0.30	-1.09	-0.94	-0.40	18	8.39
Interest Expense	-	-	0.22	1.25	0.52	-0.38
Interest & Investment Income	0.09	-1.15	0.20	5.55	21	20
Other Income / (Expense), net	-0.38	0.06	-0.92	-4.70	-1.90	-12
Income Tax Expense	1.38	3.15	1.18	2.29	3.65	4.35
Basic Earnings per Share	($2.57)	($2.33)	($1.46)	($1.09)	($0.71)	($0.56)
Weighted Average Basic Shares Outstanding	27.10M	33.38M	54.97M	140.87M	150.10M	151.32M
Diluted Earnings per Share	($2.57)	($2.33)	($1.46)	($1.09)	($0.71)	($0.56)
Weighted Average Diluted Shares Outstanding	27.10M	33.38M	54.97M	140.87M	150.10M	151.32M
Weighted Average Basic & Diluted Shares Outstanding	-	-	139.53M	145.36M	158.09M	147.74M

This table shows Udemy's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Income / (Loss) Attributable to Common Shareholders	-47	-52	-45	-26	-17	-20	-18	-32	-25	-9.86
Consolidated Net Income / (Loss)	-47	-52	-45	-26	-17	-20	-18	-32	-25	-9.86
Net Income / (Loss) Continuing Operations	-47	-52	-45	-26	-17	-20	-18	-32	-25	-9.86
Total Pre-Tax Income	-46	-51	-43	-25	-16	-20	-17	-31	-24	-8.21
Total Operating Income	-43	-54	-47	-27	-21	-26	-23	-26	-29	-12
Total Gross Profit	89	91	100	102	107	110	121	121	123	127
Total Revenue	158	165	176	178	185	190	197	194	195	200
Operating Revenue	158	165	176	178	185	190	197	194	195	200
Total Cost of Revenue	69	74	77	76	77	80	76	73	72	73
Operating Cost of Revenue	69	74	77	76	77	80	76	73	72	73
Total Operating Expenses	133	145	147	130	129	136	143	147	153	139
Selling, General & Admin Expense	27	27	26	23	22	23	25	27	22	22
Marketing Expense	77	89	80	77	76	83	87	87	86	83
Research & Development Expense	28	30	31	30	30	30	31	32	33	29
Restructuring Charge	0.00	-	10	0.14	0.00	-	0.00	0.00	11	5.41
Total Other Income / (Expense), net	-2.93	3.08	3.79	2.78	5.54	6.14	5.42	-5.47	5.05	3.39
Interest Expense	1.02	-	0.39	-0.05	0.12	0.05	0.00	0.08	-0.50	0.05
Interest & Investment Income	1.61	3.57	4.32	4.89	5.54	5.91	5.73	5.20	4.73	4.01
Other Income / (Expense), net	-3.52	-0.26	-0.14	-2.16	0.12	0.28	-0.31	-11	-0.19	-0.58
Income Tax Expense	0.51	1.14	1.06	1.06	0.81	0.73	1.03	0.80	0.86	1.66
Basic Earnings per Share	($0.33)	($0.37)	($0.31)	($0.17)	($0.11)	($0.12)	($0.12)	($0.21)	($0.17)	($0.06)
Weighted Average Basic Shares Outstanding	140.95M	140.87M	145.74M	148.07M	151.31M	150.10M	156.57M	152.99M	149.18M	151.32M
Diluted Earnings per Share	($0.33)	($0.37)	($0.31)	($0.17)	($0.11)	($0.12)	($0.12)	($0.21)	($0.17)	($0.06)
Weighted Average Diluted Shares Outstanding	140.95M	140.87M	145.74M	148.07M	151.31M	150.10M	156.57M	152.99M	149.18M	151.32M
Weighted Average Basic & Diluted Shares Outstanding	141.32M	145.36M	146.77M	150.39M	153.33M	158.09M	153.10M	150.36M	145.90M	147.74M

This table details how cash moves in and out of Udemy's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2019	2020	2021	2022	2023	2024
Net Change in Cash & Equivalents	9.42	126	359	-219	-7.76	-118
Net Cash From Operating Activities	-16	9.62	-7.10	-61	-2.01	53
Net Cash From Continuing Operating Activities	-16	9.62	-7.10	-61	-2.01	53
Net Income / (Loss) Continuing Operations	-70	-78	-80	-154	-107	-85
Consolidated Net Income / (Loss)	-70	-78	-80	-154	-107	-85
Depreciation Expense	8.74	11	15	21	25	25
Amortization Expense	3.04	7.49	18	31	47	51
Non-Cash Adjustments To Reconcile Net Income	13	38	39	94	97	106
Changes in Operating Assets and Liabilities, net	29	30	0.43	-53	-63	-45
Net Cash From Investing Activities	15	-15	-53	-173	-25	1.08
Net Cash From Continuing Investing Activities	15	-15	-53	-173	-25	1.08
Purchase of Property, Plant & Equipment	-11	-15	-18	-16	-13	-15
Acquisitions	0.00	0.00	-24	-1.50	0.00	0.00
Purchase of Investments	-1.54	0.00	-10	-164	-308	-337
Sale and/or Maturity of Investments	27	0.00	0.00	7.50	296	353
Net Cash From Financing Activities	11	131	419	15	19	-172
Net Cash From Continuing Financing Activities	11	131	419	15	19	-172
Repayment of Debt	-	-	0.00	0.00	-6.76	-31
Repurchase of Common Equity	0.00	0.00	-2.25	0.00	0.00	-150
Issuance of Common Equity	0.00	0.00	415	9.19	8.04	7.05
Other Financing Activities, net	11	10	5.70	5.56	18	2.35
Effect of Exchange Rate Changes	-	0.00	0.00	-0.03	0.02	-0.12
Cash Interest Paid	0.01	0.05	0.09	0.02	3.19	0.00
Cash Income Taxes Paid	0.12	0.15	0.39	0.68	1.42	1.28

This table details how cash moves in and out of Udemy's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Change in Cash & Equivalents	-84	-114	-38	47	4.75	-22	-49	13	-68	-14
Net Cash From Operating Activities	-14	-31	-20	13	12	-7.27	21	29	-6.10	9.58
Net Cash From Continuing Operating Activities	-14	-31	-20	14	12	-7.27	21	29	-6.19	9.56
Net Income / (Loss) Continuing Operations	-47	-52	-45	-26	-17	-20	-18	-32	-25	-9.86
Consolidated Net Income / (Loss)	-47	-52	-45	-26	-17	-20	-18	-32	-25	-9.86
Depreciation Expense	5.42	5.60	5.79	6.10	6.18	6.52	6.48	6.69	6.34	5.91
Amortization Expense	5.35	8.96	8.69	13	12	13	13	11	17	11
Non-Cash Adjustments To Reconcile Net Income	37	33	26	23	23	25	16	40	18	32
Changes in Operating Assets and Liabilities, net	-15	-27	-16	-2.59	-13	-31	3.26	2.40	-22	-29
Net Cash From Investing Activities	-72	-89	-19	26	-10	-21	-3.77	24	-5.70	-13
Net Cash From Continuing Investing Activities	-72	-89	-19	26	-10	-21	-3.77	24	-5.70	-13
Purchase of Property, Plant & Equipment	-4.71	-3.68	-3.36	-3.27	-3.13	-3.31	-3.46	-3.81	-4.10	-3.41
Purchase of Investments	-66	-92	-58	-68	-100	-82	-89	-57	-93	-97
Sale and/or Maturity of Investments	-	7.50	43	97	92	65	89	84	92	87
Net Cash From Financing Activities	1.95	4.99	1.18	8.29	3.57	6.16	-66	-39	-56	-10
Net Cash From Continuing Financing Activities	1.95	4.99	1.18	8.29	3.57	6.16	-66	-39	-56	-10
Repayment of Debt	-	-	0.00	-	-	-6.76	-12	-8.18	-5.55	-5.46
Repurchase of Common Equity	-	-	0.00	-	-	-	-55	-35	-51	-8.73
Issuance of Common Equity	-	3.63	-	-	-	3.29	0.31	4.22	-	2.52
Other Financing Activities, net	1.95	1.36	1.18	3.53	3.57	9.63	-	-	0.48	1.42
Effect of Exchange Rate Changes	-0.03	0.01	-0.02	-0.01	-0.09	0.14	-0.05	0.03	0.08	-0.18
Cash Income Taxes Paid	0.13	0.16	0.04	0.95	0.35	0.08	0.07	0.53	0.56	0.12

This table presents Udemy's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2020	2021	2022	2023	2024
Total Assets	282	740	738	741	606
Total Current Assets	237	642	615	632	506
Cash & Equivalents	175	534	314	306	191
Restricted Cash	-	-	0.00	3.33	0.10
Short-Term Investments	-	0.00	152	171	164
Accounts Receivable	46	73	105	93	88
Prepaid Expenses	6.04	16	15	21	23
Other Current Assets	9.64	19	30	39	41
Plant, Property, & Equipment, net	9.11	9.89	7.01	4.44	4.53
Total Noncurrent Assets	36	88	116	104	95
Long-Term Investments	-	10	12	10	0.00
Goodwill	0.00	13	13	13	13
Intangible Assets	14	34	37	37	34
Other Noncurrent Operating Assets	22	32	54	45	48
Total Liabilities & Shareholders' Equity	282	740	738	741	606
Total Liabilities	269	350	398	384	408
Total Current Liabilities	264	341	387	380	397
Accounts Payable	24	35	15	2.51	6.31
Accrued Expenses	47	40	31	28	31
Current Deferred Revenue	141	208	274	279	291
Current Employee Benefit Liabilities	20	22	23	24	29
Other Current Liabilities	31	36	44	46	40
Total Noncurrent Liabilities	4.86	8.81	11	4.17	11
Noncurrent Deferred Revenue	0.94	2.28	4.34	3.00	2.44
Other Noncurrent Operating Liabilities	3.93	6.53	7.01	1.17	8.32
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	-261	390	339	357	197
Total Preferred & Common Equity	-261	390	339	357	197
Total Common Equity	-261	390	339	357	197
Common Stock	118	848	952	1,077	1,002
Retained Earnings	-379	-459	-612	-720	-805
Accumulated Other Comprehensive Income / (Loss)	-	-0.00	-0.23	0.08	-0.01

This table presents Udemy's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024
Total Assets	730	717	722	736	708	672	609
Total Current Assets	608	595	605	622	603	568	508
Cash & Equivalents	428	276	323	328	257	272	205
Restricted Cash	-	-	-	0.10	3.33	0.10	0.10
Short-Term Investments	66	170	142	151	174	149	153
Accounts Receivable	72	96	87	83	100	82	81
Prepaid Expenses	13	17	14	18	26	20	25
Other Current Assets	29	36	39	41	44	45	45
Plant, Property, & Equipment, net	7.82	6.21	5.49	4.98	4.07	3.84	3.32
Total Noncurrent Assets	114	116	111	110	101	100	98
Long-Term Investments	12	12	10	10	10	0.00	0.00
Goodwill	13	13	13	13	13	13	13
Intangible Assets	36	37	38	37	36	36	36
Other Noncurrent Operating Assets	53	54	51	50	42	51	49
Total Liabilities & Shareholders' Equity	730	717	722	736	708	672	609
Total Liabilities	374	392	389	391	412	420	413
Total Current Liabilities	358	383	384	386	408	409	403
Accounts Payable	17	11	5.31	5.66	3.08	3.67	4.27
Accrued Expenses	37	26	27	31	31	35	25
Current Deferred Revenue	238	276	285	280	316	310	300
Current Employee Benefit Liabilities	25	27	22	25	20	20	32
Other Current Liabilities	41	42	44	45	39	40	41
Total Noncurrent Liabilities	16	9.29	5.49	4.20	3.68	11	9.79
Noncurrent Deferred Revenue	3.10	4.35	2.18	2.52	2.34	2.46	2.36
Other Noncurrent Operating Liabilities	13	4.94	3.31	1.68	1.34	8.39	7.43
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	357	325	333	346	296	252	196
Total Preferred & Common Equity	357	325	333	346	296	252	196
Total Common Equity	357	325	333	346	296	252	196
Common Stock	917	982	1,016	1,045	1,035	1,022	991
Retained Earnings	-560	-657	-683	-699	-738	-770	-795
Accumulated Other Comprehensive Income / (Loss)	-0.27	-0.10	-0.05	-0.06	-0.07	-0.04	0.20

This table displays calculated financial ratios and metrics derived from Udemy's official financial filings.

Metric	2019	2020	2021	2022	2023	2024
Growth Metrics	-	-	-	-	-	-
Revenue Growth	0.00%	55.58%	19.95%	22.00%	15.87%	7.91%
EBITDA Growth	0.00%	3.27%	16.53%	-125.87%	49.00%	54.05%
EBIT Growth	0.00%	-7.18%	-7.50%	-97.76%	20.59%	18.43%
NOPAT Growth	0.00%	-7.86%	-6.17%	-94.06%	19.38%	26.72%
Net Income Growth	0.00%	-11.36%	-3.10%	-92.28%	30.27%	20.51%
EPS Growth	0.00%	9.34%	37.34%	25.34%	34.86%	21.13%
Operating Cash Flow Growth	0.00%	158.49%	-173.82%	-758.07%	96.71%	2,745.54%
Free Cash Flow Firm Growth	0.00%	0.00%	-156.22%	-96.58%	26.29%	56.49%
Invested Capital Growth	0.00%	0.00%	4.61%	10.38%	3.24%	-17.55%
Revenue Q/Q Growth	0.00%	0.00%	0.00%	4.99%	3.44%	1.34%
EBITDA Q/Q Growth	0.00%	0.00%	0.00%	-9.94%	39.11%	29.63%
EBIT Q/Q Growth	0.00%	0.00%	0.00%	-9.25%	18.97%	11.56%
NOPAT Q/Q Growth	0.00%	0.00%	0.00%	-9.53%	18.92%	13.60%
Net Income Q/Q Growth	0.00%	0.00%	0.00%	-7.53%	22.92%	10.85%
EPS Q/Q Growth	0.00%	0.00%	0.00%	2.68%	26.04%	9.68%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	-172.15%	-118.05%	92.11%	46.56%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	0.00%	18.93%	29.52%
Invested Capital Q/Q Growth	0.00%	0.00%	0.00%	7.61%	7.17%	2.37%
Profitability Metrics	-	-	-	-	-	-
Gross Margin	48.07%	51.33%	54.23%	56.24%	57.53%	62.54%
EBITDA Margin	-20.50%	-12.74%	-8.87%	-16.42%	-7.23%	-3.08%
Operating Margin	-24.62%	-17.07%	-15.11%	-24.03%	-16.72%	-11.36%
EBIT Margin	-24.76%	-17.06%	-15.29%	-24.78%	-16.98%	-12.84%
Profit (Net Income) Margin	-25.22%	-18.06%	-15.52%	-24.46%	-14.72%	-10.84%
Tax Burden Percent	102.01%	104.23%	101.50%	101.51%	103.52%	105.37%
Interest Burden Percent	99.87%	101.56%	100.02%	97.24%	83.72%	80.15%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Equity (ROE)	0.00%	-578.43%	-39.70%	-42.21%	-30.82%	-30.77%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Return on Assets (OROA)	0.00%	-25.99%	-15.43%	-21.10%	-16.74%	-15.00%
Return on Assets (ROA)	0.00%	-27.52%	-15.66%	-20.83%	-14.51%	-12.67%
Return on Common Equity (ROCE)	0.00%	11,236.97%	-12.71%	-42.21%	-30.82%	-30.77%
Return on Equity Simple (ROE_SIMPLE)	0.00%	29.78%	-20.54%	-45.35%	-30.06%	-43.21%
Net Operating Profit after Tax (NOPAT)	-48	-51	-55	-106	-85	-63
NOPAT Margin	-17.23%	-11.95%	-10.58%	-16.82%	-11.71%	-7.95%
Net Nonoperating Expense Percent (NNEP)	0.00%	-30.00%	-7.09%	-9.41%	-4.54%	-5.39%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-31.19%	-23.91%	-31.68%
Cost of Revenue to Revenue	51.93%	48.67%	45.77%	43.76%	42.47%	37.46%
SG&A Expenses to Revenue	14.49%	11.81%	12.49%	15.75%	12.88%	12.23%
R&D to Revenue	12.44%	11.78%	12.82%	16.62%	16.51%	15.95%
Operating Expenses to Revenue	72.68%	68.39%	69.34%	80.27%	74.25%	73.90%
Earnings before Interest and Taxes (EBIT)	-68	-73	-79	-156	-124	-101
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-57	-55	-46	-103	-53	-24
Valuation Ratios	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	6.97	4.39	6.33	6.08
Price to Tangible Book Value (P/TBV)	0.00	0.00	7.91	5.14	7.34	7.96
Price to Revenue (P/Rev)	1.52	0.98	5.27	2.37	3.10	1.53
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Revenue (EV/Rev)	0.00	1.21	4.21	1.61	2.43	1.08
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	53.99	0.00	0.00	0.00	15.95
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	4.71	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00
Financial Leverage	0.00	-13.04	-1.78	-1.40	-1.39	-1.52
Leverage Ratio	0.00	21.02	2.54	2.03	2.12	2.43
Compound Leverage Factor	0.00	21.35	2.54	1.97	1.78	1.95
Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	2,042.66%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	0.00%	-1,942.66%	100.00%	100.00%	100.00%	100.00%
Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00
Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00
Altman Z-Score	0.00	-0.39	4.62	1.61	3.01	0.87
Noncontrolling Interest Sharing Ratio	0.00%	2,042.66%	68.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-
Current Ratio	0.00	0.90	1.88	1.59	1.66	1.27
Quick Ratio	0.00	0.84	1.78	1.47	1.50	1.11
Cash Flow Metrics	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	110	-62	-122	-90	-39
Operating Cash Flow to CapEx	-147.96%	66.20%	-39.03%	-387.67%	-15.35%	359.01%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	-281.72	-97.39	-173.38	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	-32.29	-48.73	-3.87	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	-115.03	-61.30	-29.09	0.00
Efficiency Ratios	-	-	-	-	-	-
Asset Turnover	0.00	1.52	1.01	0.85	0.99	1.17
Accounts Receivable Turnover	0.00	9.29	8.63	7.08	7.40	8.70
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	47.21	54.30	74.45	127.31	175.32
Accounts Payable Turnover	0.00	8.83	8.09	11.20	36.35	66.83
Days Sales Outstanding (DSO)	0.00	39.27	42.27	51.55	49.34	41.94
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	41.36	45.11	32.58	10.04	5.46
Cash Conversion Cycle (CCC)	0.00	-2.08	-2.84	18.97	39.30	36.48
Capital & Investment Metrics	-	-	-	-	-	-
Invested Capital	0.00	-162	-154	-138	-134	-157
Invested Capital Turnover	0.00	-5.32	-3.27	-4.30	-5.36	-5.41
Increase / (Decrease) in Invested Capital	0.00	-162	7.44	16	4.48	-23
Enterprise Value (EV)	0.00	520	2,171	1,013	1,768	846
Market Capitalization	421	421	2,715	1,491	2,259	1,201
Book Value per Share	$0.00	($7.81)	$2.80	$2.40	$2.33	$1.35
Tangible Book Value per Share	$0.00	($8.23)	$2.47	$2.05	$2.01	$1.03
Total Capital	0.00	13	390	339	357	197
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt	0.00	-175	-544	-477	-491	-355
Capital Expenditures (CapEx)	11	15	18	16	13	15
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	-202	-233	-237	-228	-246
Debt-free Net Working Capital (DFNWC)	0.00	-27	301	228	252	109
Net Working Capital (NWC)	0.00	-27	301	228	252	109
Net Nonoperating Expense (NNE)	22	26	25	48	22	23
Net Nonoperating Obligations (NNO)	0.00	-175	-544	-477	-491	-355
Total Depreciation and Amortization (D&A)	12	19	33	53	71	77
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	-46.96%	-45.25%	-37.72%	-31.29%	-31.23%
Debt-free Net Working Capital to Revenue	0.00%	-6.25%	58.28%	36.26%	34.60%	13.84%
Net Working Capital to Revenue	0.00%	-6.25%	58.28%	36.26%	34.60%	13.84%
Earnings Adjustments	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	$0.00	($1.09)	($0.71)	($0.56)
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	0.00	140.87M	150.10M	151.32M
Adjusted Diluted Earnings per Share	$0.00	$0.00	$0.00	($1.09)	($0.71)	($0.56)
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	0.00	140.87M	150.10M	151.32M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	0.00	145.36M	158.09M	147.74M
Normalized Net Operating Profit after Tax (NOPAT)	-48	-51	-55	-106	-78	-51
Normalized NOPAT Margin	-17.23%	-11.95%	-10.58%	-16.82%	-10.72%	-6.46%
Pre Tax Income Margin	-24.73%	-17.32%	-15.29%	-24.10%	-14.22%	-10.29%
Debt Service Ratios	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	-358.30	-124.61	-238.98	0.00
NOPAT to Interest Expense	0.00	0.00	-247.89	-84.60	-164.72	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	-441.05	-137.18	-264.21	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	-330.63	-97.17	-189.95	0.00
Payout Ratios	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	-2.81%	0.00%	0.00%	-176.25%

This table displays calculated financial ratios and metrics derived from Udemy's official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	22.28%	22.06%	15.90%	16.41%	16.59%	14.65%	11.57%	9.04%	5.79%	5.49%
EBITDA Growth	-3,358.60%	-30.68%	-135.10%	19.85%	91.74%	85.02%	89.90%	-70.96%	-123.37%	171.04%
EBIT Growth	-379.93%	-32.08%	-85.52%	-1.45%	54.30%	53.31%	51.42%	-21.97%	-38.69%	52.04%
NOPAT Growth	-352.89%	-32.12%	-86.75%	3.73%	50.30%	52.57%	51.92%	6.98%	-37.04%	54.82%
Net Income Growth	-404.14%	-26.02%	-73.67%	12.41%	64.09%	61.18%	58.83%	-23.62%	-50.72%	51.28%
EPS Growth	-32.00%	7.50%	-72.22%	19.05%	66.67%	67.57%	61.29%	-23.53%	-54.55%	50.00%
Operating Cash Flow Growth	-251.64%	-1,424.34%	-42.36%	648.41%	184.32%	76.31%	205.40%	111.93%	-152.28%	231.84%
Free Cash Flow Firm Growth	45.88%	0.00%	-136.24%	-121.73%	-130.82%	58.34%	99.27%	128.47%	82.12%	168.36%
Invested Capital Growth	-184.99%	10.38%	9.07%	6.25%	3.71%	3.24%	-11.77%	-18.27%	-11.76%	-17.55%
Revenue Q/Q Growth	3.47%	4.35%	6.71%	1.03%	3.64%	2.61%	3.85%	-1.26%	0.54%	2.32%
EBITDA Q/Q Growth	-167.05%	-10.52%	17.22%	67.19%	72.48%	-100.40%	44.19%	-455.44%	64.04%	163.74%
EBIT Q/Q Growth	-60.19%	-16.20%	12.76%	37.53%	27.85%	-18.73%	9.22%	-56.83%	17.95%	58.94%
NOPAT Q/Q Growth	-51.61%	-25.07%	12.61%	41.91%	21.72%	-19.37%	11.42%	-12.39%	-15.32%	60.64%
Net Income Q/Q Growth	-58.93%	-11.69%	14.59%	42.23%	34.85%	-20.76%	9.43%	-73.48%	20.57%	60.97%
EPS Q/Q Growth	-57.14%	-12.12%	16.22%	45.16%	35.29%	-9.09%	0.00%	-75.00%	19.05%	64.71%
Operating Cash Flow Q/Q Growth	-462.48%	-121.76%	35.16%	167.81%	-13.52%	-162.30%	388.51%	36.35%	-121.33%	257.08%
Free Cash Flow Firm Q/Q Growth	-49.49%	-180.64%	14.08%	37.91%	28.36%	-9.01%	98.49%	2,511.67%	-144.99%	516.76%
Invested Capital Q/Q Growth	1.75%	7.61%	4.27%	-7.89%	-0.92%	7.17%	-10.59%	-14.16%	4.63%	2.37%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	56.40%	55.25%	56.53%	57.40%	58.17%	57.95%	61.25%	62.32%	62.97%	63.62%
EBITDA Margin	-22.73%	-24.07%	-18.67%	-6.06%	-1.61%	-3.14%	-1.69%	-9.51%	-3.40%	2.12%
Operating Margin	-27.30%	-32.72%	-26.80%	-15.41%	-11.64%	-13.54%	-11.55%	-13.14%	-15.07%	-5.80%
EBIT Margin	-29.52%	-32.88%	-26.88%	-16.62%	-11.57%	-13.39%	-11.70%	-18.59%	-15.17%	-6.09%
Profit (Net Income) Margin	-29.47%	-31.54%	-25.25%	-14.44%	-9.08%	-10.68%	-9.32%	-16.37%	-12.93%	-4.93%
Tax Burden Percent	101.11%	102.22%	102.43%	104.28%	105.08%	103.73%	105.93%	102.59%	103.54%	120.20%
Interest Burden Percent	98.73%	93.86%	91.71%	83.31%	74.65%	76.92%	75.15%	85.83%	82.34%	67.42%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Equity (ROE)	-78.64%	-42.21%	-48.97%	-47.77%	-39.64%	-30.82%	-26.09%	-29.78%	-35.30%	-30.77%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Return on Assets (OROA)	-34.68%	-28.00%	-24.12%	-15.36%	-11.12%	-13.20%	-12.31%	-20.41%	-17.50%	-7.11%
Return on Assets (ROA)	-34.62%	-26.86%	-22.66%	-13.34%	-8.72%	-10.53%	-9.80%	-17.98%	-14.92%	-5.76%
Return on Common Equity (ROCE)	-19.38%	-42.21%	-48.97%	-47.77%	-39.64%	-30.82%	-26.09%	-29.78%	-35.30%	-30.77%
Return on Equity Simple (ROE_SIMPLE)	-40.14%	0.00%	-53.15%	-50.77%	-40.25%	0.00%	-27.35%	-34.56%	-48.75%	0.00%
Net Operating Profit after Tax (NOPAT)	-30	-38	-33	-19	-15	-18	-16	-18	-21	-8.12
NOPAT Margin	-19.11%	-22.90%	-18.76%	-10.79%	-8.15%	-9.48%	-8.08%	-9.20%	-10.55%	-4.06%
Net Nonoperating Expense Percent (NNEP)	-5.80%	-2.80%	-2.33%	-1.30%	-0.35%	-0.47%	-0.54%	-3.11%	-1.10%	-0.41%
Return On Investment Capital (ROIC_SIMPLE)	-	-11.16%	-	-	-	-5.03%	-	-	-	-4.11%
Cost of Revenue to Revenue	43.60%	44.75%	43.47%	42.60%	41.83%	42.05%	38.75%	37.68%	37.03%	36.38%
SG&A Expenses to Revenue	17.07%	16.28%	14.93%	12.69%	11.99%	12.02%	12.58%	14.03%	11.39%	10.95%
R&D to Revenue	17.71%	18.12%	17.51%	16.63%	16.41%	15.57%	15.86%	16.67%	16.87%	14.42%
Operating Expenses to Revenue	83.70%	87.97%	83.32%	72.80%	69.81%	71.49%	72.79%	75.46%	78.05%	69.42%
Earnings before Interest and Taxes (EBIT)	-47	-54	-47	-30	-21	-25	-23	-36	-30	-12
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-36	-40	-33	-11	-2.97	-5.96	-3.33	-18	-6.64	4.23
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	4.77	4.39	3.95	4.73	4.13	6.33	5.68	5.24	5.70	6.08
Price to Tangible Book Value (P/TBV)	5.53	5.14	4.67	5.57	4.83	7.34	6.80	6.50	7.58	7.96
Price to Revenue (P/Rev)	2.84	2.37	1.96	2.32	2.03	3.10	2.25	1.73	1.44	1.53
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Revenue (EV/Rev)	2.00	1.61	1.26	1.62	1.33	2.43	1.65	1.18	0.98	1.08
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00	31.89	16.68	21.04	15.95
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Financial Leverage	-1.56	-1.40	-1.39	-1.42	-1.42	-1.39	-1.45	-1.53	-1.56	-1.52
Leverage Ratio	2.80	2.03	2.06	2.07	2.09	2.12	2.29	2.38	2.48	2.43
Compound Leverage Factor	2.77	1.90	1.89	1.73	1.56	1.63	1.72	2.04	2.04	1.64
Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Altman Z-Score	2.68	2.06	1.73	2.28	2.11	3.45	2.27	1.53	1.12	1.35
Noncontrolling Interest Sharing Ratio	75.35%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.70	1.59	1.56	1.58	1.61	1.66	1.48	1.39	1.26	1.27
Quick Ratio	1.58	1.47	1.42	1.44	1.46	1.50	1.30	1.23	1.09	1.11
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	67	-54	-46	-29	-21	-22	-0.34	8.18	-3.68	15
Operating Cash Flow to CapEx	-293.97%	-834.97%	-592.82%	412.32%	372.99%	-219.58%	606.39%	751.04%	-148.85%	280.83%
Free Cash Flow to Firm to Interest Expense	65.62	0.00	-118.68	0.00	-166.04	-415.63	-113.10	106.27	0.00	340.94
Operating Cash Flow to Interest Expense	-13.59	0.00	-51.01	0.00	94.09	-134.59	6,989.67	371.32	0.00	212.93
Operating Cash Flow Less CapEx to Interest Expense	-18.22	0.00	-59.62	0.00	68.86	-195.89	5,837.00	321.88	0.00	137.11
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.17	0.85	0.90	0.92	0.96	0.99	1.05	1.10	1.15	1.17
Accounts Receivable Turnover	10.68	7.08	7.96	8.68	9.13	7.40	7.64	9.05	9.46	8.70
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	65.11	74.45	86.28	98.53	110.11	127.31	145.87	164.14	186.94	175.32
Accounts Payable Turnover	12.27	11.20	21.10	26.13	26.75	36.35	44.58	68.23	60.71	66.83
Days Sales Outstanding (DSO)	34.18	51.55	45.85	42.05	39.99	49.34	47.78	40.31	38.57	41.94
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	29.76	32.58	17.30	13.97	13.65	10.04	8.19	5.35	6.01	5.46
Cash Conversion Cycle (CCC)	4.43	18.97	28.55	28.07	26.35	39.30	39.59	34.96	32.55	36.48
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	-150	-138	-132	-143	-144	-134	-148	-169	-161	-157
Invested Capital Turnover	-5.93	-4.30	-4.70	-4.60	-4.80	-5.36	-5.35	-4.92	-5.09	-5.41
Increase / (Decrease) in Invested Capital	-97	16	13	9.52	5.54	4.48	-16	-26	-17	-23
Enterprise Value (EV)	1,196	1,013	826	1,099	939	1,768	1,239	900	761	846
Market Capitalization	1,702	1,491	1,284	1,575	1,429	2,259	1,684	1,321	1,119	1,201
Book Value per Share	$2.53	$2.40	$2.24	$2.27	$2.30	$2.33	$1.89	$1.65	$1.31	$1.35
Tangible Book Value per Share	$2.18	$2.05	$1.89	$1.93	$1.97	$2.01	$1.58	$1.33	$0.98	$1.03
Total Capital	357	339	325	333	346	357	296	252	196	197
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt	-506	-477	-457	-476	-490	-491	-444	-421	-357	-355
Capital Expenditures (CapEx)	4.71	3.68	3.36	3.27	3.13	3.31	3.46	3.81	4.10	3.41
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-244	-237	-233	-244	-244	-228	-239	-262	-252	-246
Debt-free Net Working Capital (DFNWC)	250	228	212	222	235	252	195	159	105	109
Net Working Capital (NWC)	250	228	212	222	235	252	195	159	105	109
Net Nonoperating Expense (NNE)	16	14	11	6.51	1.72	2.29	2.43	14	4.65	1.75
Net Nonoperating Obligations (NNO)	-506	-477	-457	-476	-490	-491	-444	-421	-357	-355
Total Depreciation and Amortization (D&A)	11	15	14	19	18	19	20	18	23	16
Debt-free, Cash-free Net Working Capital to Revenue	-40.69%	-37.72%	-35.63%	-35.92%	-34.66%	-31.29%	-31.88%	-34.22%	-32.47%	-31.23%
Debt-free Net Working Capital to Revenue	41.75%	36.26%	32.53%	32.69%	33.38%	34.60%	26.04%	20.78%	13.55%	13.84%
Net Working Capital to Revenue	41.75%	36.26%	32.53%	32.69%	33.38%	34.60%	26.04%	20.78%	13.55%	13.84%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.33)	($0.37)	($0.31)	($0.17)	($0.11)	($0.12)	($0.12)	($0.21)	($0.17)	($0.06)
Adjusted Weighted Average Basic Shares Outstanding	140.95M	140.87M	145.74M	148.07M	151.31M	150.10M	156.57M	152.99M	149.18M	151.32M
Adjusted Diluted Earnings per Share	($0.33)	($0.37)	($0.31)	($0.17)	($0.11)	($0.12)	($0.12)	($0.21)	($0.17)	($0.06)
Adjusted Weighted Average Diluted Shares Outstanding	140.95M	140.87M	145.74M	148.07M	151.31M	150.10M	156.57M	152.99M	149.18M	151.32M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	141.32M	145.36M	146.77M	150.39M	153.33M	158.09M	153.10M	150.36M	145.90M	147.74M
Normalized Net Operating Profit after Tax (NOPAT)	-30	-38	-26	-19	-15	-18	-16	-18	-13	-4.33
Normalized NOPAT Margin	-19.11%	-22.90%	-14.74%	-10.73%	-8.15%	-9.48%	-8.08%	-9.20%	-6.51%	-2.17%
Pre Tax Income Margin	-29.15%	-30.86%	-24.65%	-13.85%	-8.64%	-10.30%	-8.79%	-15.96%	-12.49%	-4.10%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-45.95	0.00	-121.59	0.00	-172.37	-469.94	-7,679.00	-469.22	0.00	-270.49
NOPAT to Interest Expense	-29.74	0.00	-84.86	0.00	-121.35	-332.63	-5,303.43	-232.24	0.00	-180.35
EBIT Less CapEx to Interest Expense	-50.57	0.00	-130.19	0.00	-197.60	-531.24	-8,831.67	-518.66	0.00	-346.31
NOPAT Less CapEx to Interest Expense	-34.36	0.00	-93.46	0.00	-146.57	-393.93	-6,456.10	-281.68	0.00	-256.17
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-68.00%	-103.91%	-148.00%	-176.25%

Frequently Asked Questions About Udemy's Financials

When does Udemy's fiscal year end?

According to the most recent income statement we have on file, Udemy's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Udemy's net income changed over the last 5 years?

Udemy's net income appears to be on an upward trend, with a most recent value of -$85.29 million in 2024, rising from -$69.70 million in 2019. The previous period was -$107.29 million in 2023.

What is Udemy's operating income?

Udemy's total operating income in 2024 was -$89.33 million, based on the following breakdown:

Total Gross Profit: $491.94 million
Total Operating Expenses: $581.27 million

How has Udemy revenue changed over the last 5 years?

Over the last 5 years, Udemy's total revenue changed from $276.33 million in 2019 to $786.57 million in 2024, a change of 184.7%.

How much debt does Udemy have?

Udemy's total liabilities were at $408.23 million at the end of 2024, a 6.2% increase from 2023, and a 51.9% increase since 2020.

How much cash does Udemy have?

In the past 4 years, Udemy's cash and equivalents has ranged from $175.03 million in 2020 to $533.87 million in 2021, and is currently $190.59 million as of their latest financial filing in 2024.

How has Udemy's book value per share changed over the last 5 years?

Over the last 5 years, Udemy's book value per share changed from 0.00 in 2019 to 1.35 in 2024, a change of 135.3%.

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This page (NASDAQ:UDMY) was last updated on 4/14/2025 by MarketBeat.com Staff

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