Udemy, Inc. Stock Price, News & Analysis

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Udemy has appointed Stacey Zolt Hara as the new Senior Vice President of Corporate Communications, bringing over 20 years of experience. In her role, she will oversee Udemy's global communications, public relations, and social media strategies. Zolt Hara's previous experience includes leadership positions at Visa and Edelman. Udemy continues to expand its reach, with over 49 million learners globally and a corporate training arm supporting over 10,500 enterprise customers, including 49 of the Fortune 100. The addition of Zolt Hara is expected to enhance Udemy's corporate narrative during this critical growth phase.

Udemy reported a strong fourth quarter ending December 31, 2021, with revenue reaching $138 million, a 25% year-over-year increase. The company's Udemy Business segment saw a remarkable 81% surge in revenue, totaling $57.8 million, contributing to an annual recurring revenue (ARR) of $239 million. Despite a GAAP net loss of $38.9 million, the company noted growth in both consumer and business segments. Udemy expects continued growth driven by organizations focusing on digital transformation, with a compounded annual growth rate of over 100% in its business segment since 2015.

Udemy (Nasdaq: UDMY) will release its fourth quarter financial results for the period ended December 31, 2021, on February 9, 2022, after market close. A conference call and earnings webcast will be held at 5:00 p.m. EST / 2:00 p.m. PST the same day to discuss these results. Interested parties can access the call by registering online. An archived replay will also be available shortly after the live call concludes on the Udemy Investor Relations website.

Udemy is expanding its EMEA headquarters in Dublin, creating over 120 new jobs in 2022 to meet the growing demand from learners and enterprise customers. Founded in 2010, Udemy offers a marketplace with 46 million learners and 175,000 courses globally. The Dublin office, established in 2014, supports major customers and plans to grow its workforce from 200 to over 300 employees by year-end. This expansion will enhance Udemy's ability to deliver immersive learning experiences and support its ongoing go-to-market efforts following its recent IPO.

Udemy has been officially recognized as one of Ireland's Best Workplaces 2021, following an independent analysis by the Great Place to Work® Institute. The certification highlights Udemy's commitment to creating a high-trust and performance-driven environment. Vice President Bill O'Shea noted the significance of the Dublin office in their growth strategy amid a competitive talent market. This acknowledgement reflects Udemy's mission to connect individuals and organizations with essential skills and knowledge.

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Udemy (Nasdaq: UDMY) reported a strong Q3 2021 with revenue reaching $129.6 million, a 9% increase year over year. Udemy Business revenue surged 84% to $50.4 million, contributing to an annual recurring revenue (ARR) of $207 million. Although the consumer segment faced challenges, with revenue down 13% and average buyers declining 6%, the company added significant new clients. Adjusted EBITDA stood at $1.6 million, down from $8.1 million last year, while GAAP net loss was ($9.3 million).

Udemy has announced a partnership with MultiChoice to enhance online learning access for customers across Africa. This collaboration aims to provide thousands of quality courses to support personal and professional development. MultiChoice's platforms, including DStv and GOtv, will now offer educational content, reflecting a shared mission to enrich lives through accessible learning. Both companies emphasize the importance of investing in education as a key step towards empowering individuals on the continent, with the initiative expected to unlock new opportunities for learners.