Udemy, Inc. Stock Price, News & Analysis

The Texas State Library and Archives Commission (TSLAC) has partnered with Gale to offer access to Gale Presents: Udemy via public libraries across Texas. This initiative aims to support workforce development by providing library cardholders with on-demand access to over 19,000 video courses in various fields such as business and technology. Nearly half of these courses are taught by experts in multiple languages, catering to diverse learners. The collaboration aligns with a recent $3.5 million grant from the Texas Workforce Commission to enhance job training and reduce unemployment.

Udemy (Nasdaq: UDMY) announced plans to achieve adjusted EBITDA breakeven by 2024 during its first Investor Day on November 17, 2022. The company highlighted its long-term targets reflecting growth in Udemy Business, discussing competitive advantages and a robust customer acquisition strategy across over 180 countries. The presentation emphasized Udemy's vast market opportunities and the increasing demand for workforce upskilling globally. Udemy aims to enhance shareholder value by executing its strategic initiatives successfully.

Udemy (Nasdaq: UDMY) has established Melbourne as its regional business hub in Australia, indicating a commitment to enhancing its presence in the Asia-Pacific region. The company's workforce in Australia has grown more than tenfold since 2019, and Udemy Business, its corporate training solution, reported a 50% increase in learners compared to the previous year. With a global reach of over 57 million learners across 187 countries, Udemy continues to add new courses and instructors, aiming to meet the rising demand for skill development in an ever-changing economic landscape.

Udemy reported a 22% year-over-year revenue increase to $158.4 million for Q3 2022, with Udemy Business achieving a 67% revenue growth, totaling $83.9 million. Annual Recurring Revenue rose 69% to $350 million. Despite solid performance, the consumer segment faced a 6% revenue decline to $74.6 million. The company also noted a GAAP net loss of $46.7 million, a significant rise from the previous year. Operationally, Udemy expanded global partnerships and joined the AWS Partner Network. The financial outlook suggests potential macroeconomic headwinds but maintains a positive long-term growth perspective.

Udemy has been ranked number one in the Internet Software and Services sub-industry for its Environmental Social and Governance (ESG) performance by Sustainalytics for the second consecutive year. This recognition highlights Udemy's strong commitment to ESG criteria and is a significant endorsement from the leading ESG research firm. The company also achieved various accolades, including Fair Pay Workplace certification and recognition as a Great Place to Work for Women, emphasizing its focus on positive impact across employees and customers.

Udemy's "2023 Workplace Learning Trends Report" reveals a significant 49% annual increase in hours spent on technical skills training. The report identifies three key trends for organizations fostering a learning culture: promoting continuous learning, enabling agile learning in the flow of work, and implementing diverse learning delivery strategies. Cloud computing remains a focal point, particularly with Amazon Web Services-related skills. The report emphasizes the importance of aligning learning strategies with business objectives to enhance employee engagement and retention.

Udemy (Nasdaq: UDMY) will report its Q3 2022 financial results after market close on November 2, 2022. A live conference call will follow at 2 p.m. PT / 5 p.m. ET to discuss these results. Interested participants can access the call by registering through the link provided. An archived version of the webcast will be available for one year on Udemy's Investor Relations website. Udemy is a prominent platform for online learning, offering courses in various subjects from real-world experts.

Udemy (Nasdaq: UDMY) announced its virtual Investor Day set for November 17 at 9 a.m. PT. The event will feature presentations from Udemy's senior leadership team and a live Q&A session with analysts.

Interested participants can find the agenda and register for the live webcast on Udemy's investor relations page. Presentations will be available on the same day, with an archived replay accessible after the event.