$UDMY
Udemy, Inc.

2023 Q4 Form 10-Q Financial Statement

#000160793923000186 Filed on November 02, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3
Revenue $189.5M $184.7M
YoY Change 14.65% 16.59%
Cost Of Revenue $79.70M $77.26M
YoY Change 7.71% 11.85%
Gross Profit $109.9M $107.5M
YoY Change 20.26% 20.26%
Gross Profit Margin 57.95% 58.17%
Selling, General & Admin $105.8M $98.65M
YoY Change -8.13% -5.64%
% of Gross Profit 96.29% 91.8%
Research & Development $29.51M $30.31M
YoY Change -1.52% 8.0%
% of Gross Profit 26.86% 28.2%
Depreciation & Amortization $6.518M $700.0K
YoY Change 16.39% -36.36%
% of Gross Profit 5.93% 0.65%
Operating Expenses $135.5M $129.0M
YoY Change -6.82% -2.75%
Operating Profit -$25.66M -$21.50M
YoY Change -52.57% -50.3%
Interest Expense $5.858M $124.0K
YoY Change 75.65% -79.05%
% of Operating Profit
Other Income/Expense, Net $283.0K $5.540M
YoY Change -210.12% -289.01%
Pretax Income -$19.52M -$15.96M
YoY Change -61.74% -65.45%
Income Tax $729.0K $811.0K
% Of Pretax Income
Net Earnings -$20.25M -$16.77M
YoY Change -61.18% -64.09%
Net Earnings / Revenue -10.68% -9.08%
Basic Earnings Per Share -$0.11
Diluted Earnings Per Share -$0.13 -$0.11
COMMON SHARES
Basic Shares Outstanding 153.3M shares 150.4M shares
Diluted Shares Outstanding 151.3M shares

Balance Sheet

Concept 2023 Q4 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $476.9M $479.4M
YoY Change 2.48% -2.95%
Cash & Equivalents $305.6M $328.0M
Short-Term Investments $171.4M $151.5M
Other Short-Term Assets $62.84M $59.50M
YoY Change 1837.02% 2237.0%
Inventory
Prepaid Expenses
Receivables $92.56M $82.86M
Other Receivables $0.00 $0.00
Total Short-Term Assets $632.3M $621.7M
YoY Change 2.82% 2.19%
LONG-TERM ASSETS
Property, Plant & Equipment $10.13M $4.984M
YoY Change 44.47% -36.23%
Goodwill $12.65M $12.65M
YoY Change 0.0% 0.0%
Intangibles $5.223M $6.177M
YoY Change -44.03% -40.59%
Long-Term Investments $10.31M $10.30M
YoY Change -14.81% -14.9%
Other Assets $39.17M $3.730M
YoY Change 978.47% -0.82%
Total Long-Term Assets $108.9M $114.8M
YoY Change -11.17% -5.91%
TOTAL ASSETS
Total Short-Term Assets $632.3M $621.7M
Total Long-Term Assets $108.9M $114.8M
Total Assets $741.2M $736.5M
YoY Change 0.49% 0.84%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.506M $5.663M
YoY Change -82.75% -66.81%
Accrued Expenses $57.94M $17.46M
YoY Change 582.07% 124.72%
Deferred Revenue $279.4M $279.6M
YoY Change 2.0% 17.57%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $380.1M $386.5M
YoY Change -1.75% 7.87%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $4.172M $26.00K
YoY Change 799.14% -99.43%
Total Long-Term Liabilities $4.172M $26.00K
YoY Change 799.14% -99.43%
TOTAL LIABILITIES
Total Short-Term Liabilities $380.1M $386.5M
Total Long-Term Liabilities $4.172M $26.00K
Total Liabilities $384.3M $390.7M
YoY Change -3.5% 4.49%
SHAREHOLDERS EQUITY
Retained Earnings -$719.7M -$699.5M
YoY Change 17.52% 24.85%
Common Stock $2.000K $2.000K
YoY Change 100.0% 100.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $356.9M $345.8M
YoY Change
Total Liabilities & Shareholders Equity $741.2M $736.5M
YoY Change 0.49% 0.84%

Cashflow Statement

Concept 2023 Q4 2023 Q3
OPERATING ACTIVITIES
Net Income -$20.25M -$16.77M
YoY Change -61.18% -64.09%
Depreciation, Depletion And Amortization $6.518M $700.0K
YoY Change 16.39% -36.36%
Cash From Operating Activities -$7.265M $11.66M
YoY Change -76.32% -184.27%
INVESTING ACTIVITIES
Capital Expenditures $3.306M $3.130M
YoY Change -10.04% -166.5%
Acquisitions
YoY Change
Other Investing Activities -$17.67M -$7.270M
YoY Change -79.19% -89.25%
Cash From Investing Activities -$20.98M -$10.39M
YoY Change -76.3% -85.64%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 6.165M 3.560M
YoY Change 23.47% 82.19%
NET CHANGE
Cash From Operating Activities -7.265M 11.66M
Cash From Investing Activities -20.98M -10.39M
Cash From Financing Activities 6.165M 3.560M
Net Change In Cash -22.08M 4.830M
YoY Change -80.67% -105.74%
FREE CASH FLOW
Cash From Operating Activities -$7.265M $11.66M
Capital Expenditures $3.306M $3.130M
Free Cash Flow -$10.57M $8.530M
YoY Change -69.23% -193.43%

Facts In Submission

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us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
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us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-20363000 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-1132000 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
3628000 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-1375000 usd
udmy Increase Decrease In Capitalized Contract Costs Net
IncreaseDecreaseInCapitalizedContractCostsNet
45205000 usd
udmy Increase Decrease In Capitalized Contract Costs Net
IncreaseDecreaseInCapitalizedContractCostsNet
40203000 usd
us-gaap Increase Decrease In Accounts Payable And Other Operating Liabilities
IncreaseDecreaseInAccountsPayableAndOtherOperatingLiabilities
-7102000 usd
us-gaap Increase Decrease In Accounts Payable And Other Operating Liabilities
IncreaseDecreaseInAccountsPayableAndOtherOperatingLiabilities
-14257000 usd
udmy Increase Decrease In Content Costs Payable
IncreaseDecreaseInContentCostsPayable
505000 usd
udmy Increase Decrease In Content Costs Payable
IncreaseDecreaseInContentCostsPayable
-1525000 usd
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-5168000 usd
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-5012000 usd
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
3887000 usd
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
30395000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
5263000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-30272000 usd
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
225536000 usd
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
66128000 usd
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
231300000 usd
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
0 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
435000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1397000 usd
us-gaap Payments For Software
PaymentsForSoftware
9321000 usd
us-gaap Payments For Software
PaymentsForSoftware
10652000 usd
us-gaap Payments To Acquire Equity Securities Fv Ni
PaymentsToAcquireEquitySecuritiesFvNi
0 usd
us-gaap Payments To Acquire Equity Securities Fv Ni
PaymentsToAcquireEquitySecuritiesFvNi
5000000 usd
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
0 usd
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
1500000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-84677000 usd
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
5785000 usd
us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
5563000 usd
udmy Payment Of Deferred Offering Costs
PaymentOfDeferredOfferingCosts
0 usd
udmy Payment Of Deferred Offering Costs
PaymentOfDeferredOfferingCosts
1586000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
13034000 usd
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-116000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
14189000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
317314000 usd
CY2023Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
327974000 usd
CY2023Q3 us-gaap Restricted Cash Current
RestrictedCashCurrent
100000 usd
CY2023Q3 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
3429000 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
331503000 usd
us-gaap Interest Paid Net
InterestPaidNet
3186000 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
1337000 usd
us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
6966000 usd
us-gaap Marketable Securities Unrealized Gain Loss
MarketableSecuritiesUnrealizedGainLoss
218000 usd
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2 segment
us-gaap Use Of Estimates
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<div><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of estimates</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">— The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the condensed consolidated financial statements and the results of operations during the reporting periods.</span></div><div style="margin-top:6pt"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Significant estimates and assumptions reflected in the condensed consolidated financial statements include, but are not limited to, allowance for credit losses, capitalization of internally developed software and ass</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">ociated useful lives, stock-based compensation, determination of the income tax valuation allowance and the potential outcome of uncertain tax positions, estimated instructor withholding tax obligations, estimated service period for consumer single course purchases, the period of benefit for deferred commissions, t</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">he fair value and associated useful lives of intangible assets and goodwill acquired via business combinations, and the valuation of privately-held strategic investments, including impairments. Management periodically evaluates such estimates and assumptions for continued reasonableness.</span></div><div style="margin-top:6pt"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Actual results may ultimately differ from management’s estimates and such differences could be material to the Company’s financial position and results of operations.</span></div>
us-gaap Concentration Risk Credit Risk
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<span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Concentration of credit risk</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">—</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> </span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents, marketable securities, restricted cash, and accounts receivable. For cash and restricted cash, the Company is exposed to credit risk in the event of default by the financial institutions to the extent the amounts recorded on the accompanying condensed consolidated balance sheets are in excess of federal insurance limits. The Company’s investments that are classified as cash equivalents and marketable securities consist of high-credit-quality instruments and fixed-income securities.</span>The Company generally does not require collateral or other security in support of accounts receivable. To reduce credit risk, management performs ongoing evaluations of its customers’ financial condition and maintains an allowance based upon expected credit losses of outstanding receivables.
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
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us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
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us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
1370000 usd
CY2023Q3 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
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us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
467000 usd
us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
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CY2022Q3 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
1072000 usd
CY2023Q3 us-gaap Self Insurance Reserve
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CY2023Q3 us-gaap Equity Securities Fv Ni Cost
EquitySecuritiesFvNiCost
15000000 usd
CY2023Q3 us-gaap Equity Securities Fvni Noncurrent
EquitySecuritiesFVNINoncurrent
10300000 usd
CY2023Q3 us-gaap Equity Securities Without Readily Determinable Fair Value Impairment Loss Cumulative Amount
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4700000 usd
CY2023Q2 us-gaap Equity Securities Without Readily Determinable Fair Value Impairment Loss Annual Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueImpairmentLossAnnualAmount
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CY2023Q3 us-gaap Available For Sale Debt Securities Amortized Cost Basis
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11000 usd
CY2023Q3 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
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4000 usd
CY2023Q3 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
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CY2022Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
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CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
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CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
246000 usd
CY2022Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
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CY2023Q3 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
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CY2023Q3 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
4000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
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CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
246000 usd
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
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CY2023Q3 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
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CY2022Q3 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
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CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Number Of Positions
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerNumberOfPositions
0 security
CY2023Q3 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Number Of Positions
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerNumberOfPositions
0 security
CY2023Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
32025000 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
32182000 usd
CY2023Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
27041000 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
25170000 usd
CY2023Q3 us-gaap Property Plant And Equipment Net
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4984000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
7012000 usd
CY2023Q3 us-gaap Depreciation
Depreciation
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CY2022Q3 us-gaap Depreciation
Depreciation
1100000 usd
us-gaap Depreciation
Depreciation
2300000 usd
us-gaap Depreciation
Depreciation
3400000 usd
CY2023Q3 us-gaap Capitalized Computer Software Gross
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CY2022Q4 us-gaap Capitalized Computer Software Gross
CapitalizedComputerSoftwareGross
63748000 usd
CY2023Q3 us-gaap Capitalized Computer Software Accumulated Amortization
CapitalizedComputerSoftwareAccumulatedAmortization
48941000 usd
CY2022Q4 us-gaap Capitalized Computer Software Accumulated Amortization
CapitalizedComputerSoftwareAccumulatedAmortization
36336000 usd
CY2023Q3 us-gaap Capitalized Computer Software Net
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30924000 usd
CY2022Q4 us-gaap Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
27412000 usd
CY2023Q3 us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
4500000 usd
CY2022Q3 us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
3300000 usd
us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
12700000 usd
us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
9000000 usd
CY2023Q3 udmy Computer Software Expected Amortization Remainder Of Fiscal Year
ComputerSoftwareExpectedAmortizationRemainderOfFiscalYear
4503000 usd
CY2023Q3 udmy Computer Software Expected Amortization Year One
ComputerSoftwareExpectedAmortizationYearOne
15009000 usd
CY2023Q3 udmy Computer Software Expected Amortization Year Two
ComputerSoftwareExpectedAmortizationYearTwo
9169000 usd
CY2023Q3 udmy Computer Software Expected Amortization Year Three
ComputerSoftwareExpectedAmortizationYearThree
2243000 usd
CY2023Q3 us-gaap Capitalized Computer Software Net
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30924000 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
15100000 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
8923000 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
6177000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
15100000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
5769000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
9331000 usd
CY2023Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1000000 usd
CY2022Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1100000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
3100000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
3200000 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
954000 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
2795000 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
917000 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
917000 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
594000 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
6177000 usd
CY2023Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
17463000 usd
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
8494000 usd
CY2023Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
1519000 usd
CY2022Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
1696000 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
4753000 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
5095000 usd
CY2023Q3 us-gaap Variable Lease Cost
VariableLeaseCost
271000 usd
CY2022Q3 us-gaap Variable Lease Cost
VariableLeaseCost
189000 usd
us-gaap Variable Lease Cost
VariableLeaseCost
816000 usd
us-gaap Variable Lease Cost
VariableLeaseCost
596000 usd
CY2023Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
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CY2022Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
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us-gaap Operating Lease Payments
OperatingLeasePayments
5481000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
4853000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
8901000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
270000 usd
CY2023Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
8631000 usd
CY2023Q3 us-gaap Deferred Rent Credit Current
DeferredRentCreditCurrent
1327000 usd
CY2022Q4 us-gaap Deferred Rent Credit Current
DeferredRentCreditCurrent
6627000 usd
CY2023Q3 us-gaap Accrual For Taxes Other Than Income Taxes Current
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7471000 usd
CY2022Q4 us-gaap Accrual For Taxes Other Than Income Taxes Current
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9137000 usd
CY2023Q3 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
4779000 usd
CY2022Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
6989000 usd
CY2023Q3 udmy Accrued Expenses And Other Liabilities Current
AccruedExpensesAndOtherLiabilitiesCurrent
31040000 usd
CY2022Q4 udmy Accrued Expenses And Other Liabilities Current
AccruedExpensesAndOtherLiabilitiesCurrent
31247000 usd
CY2023Q3 us-gaap Unrecorded Unconditional Purchase Obligation Balance Sheet Amount
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47600000 usd
CY2023Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.0508
CY2022Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.0111
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.0348
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.0114
CY2023Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
50000000 shares
CY2022Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
50000000 shares
CY2023Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.00001
CY2022Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.00001
udmy Common Stock Number Of Voting Rights
CommonStockNumberOfVotingRights
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CY2023Q3 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
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CY2022Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
31255576 shares
CY2023Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
900000 usd
CY2023Q3 us-gaap Allocated Share Based Compensation Expense
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23484000 usd
CY2022Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
24969000 usd
us-gaap Allocated Share Based Compensation Expense
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72928000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
53043000 usd
CY2023Q3 udmy Share Based Payment Arrangement Amount Capitalized As Capitalized Software
ShareBasedPaymentArrangementAmountCapitalizedAsCapitalizedSoftware
2100000 usd
CY2022Q3 udmy Share Based Payment Arrangement Amount Capitalized As Capitalized Software
ShareBasedPaymentArrangementAmountCapitalizedAsCapitalizedSoftware
1600000 usd
udmy Share Based Payment Arrangement Amount Capitalized As Capitalized Software
ShareBasedPaymentArrangementAmountCapitalizedAsCapitalizedSoftware
6800000 usd
udmy Share Based Payment Arrangement Amount Capitalized As Capitalized Software
ShareBasedPaymentArrangementAmountCapitalizedAsCapitalizedSoftware
4200000 usd
CY2023Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
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CY2023Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2022Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
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CY2022Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
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us-gaap Net Income Loss Available To Common Stockholders Diluted
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us-gaap Net Income Loss Available To Common Stockholders Basic
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us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
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us-gaap Net Income Loss Available To Common Stockholders Diluted
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-101722000 usd
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
151307963 shares
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
140951605 shares
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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140951605 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
148392636 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
148392636 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
140116156 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
140116156 shares
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.11
CY2023Q3 us-gaap Earnings Per Share Basic
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-0.11
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.33
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.33
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.59
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.59
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.73
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.73
CY2023Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
25800545 shares
CY2022Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
27785466 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
25800545 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
27785466 shares
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2 segment
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2 segment
CY2023Q3 us-gaap Gross Profit
GrossProfit
107458000 usd
CY2022Q3 us-gaap Gross Profit
GrossProfit
89352000 usd
us-gaap Gross Profit
GrossProfit
309489000 usd
us-gaap Gross Profit
GrossProfit
262437000 usd
CY2023Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
184722000 usd
CY2022Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
158432000 usd
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
539392000 usd
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
463767000 usd
CY2023Q3 us-gaap Noncurrent Assets
NoncurrentAssets
12125000 usd
CY2022Q4 us-gaap Noncurrent Assets
NoncurrentAssets
18338000 usd
CY2023Q1 us-gaap Restructuring And Related Cost Number Of Positions Eliminated Period Percent
RestructuringAndRelatedCostNumberOfPositionsEliminatedPeriodPercent
0.10
CY2023Q1 us-gaap Restructuring Charges
RestructuringCharges
10100000 usd
CY2023Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2023Q3 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2023Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2023Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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0001607939-23-000186.txt Edgar Link pending
0001607939-23-000186-xbrl.zip Edgar Link pending
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udmy-20230930_htm.xml Edgar Link completed