Welcome to our dedicated page for Udemy news (Ticker: UDMY), a resource for investors and traders seeking the latest updates and insights on Udemy stock.
Udemy Inc. (UDMY) operates a leading global online learning platform, empowering individuals and organizations through accessible skills development. This news hub provides investors and stakeholders with verified updates on corporate developments, financial performance, and strategic initiatives.
Access official press releases, earnings announcements, and market-moving updates in one centralized location. Track key operational milestones including new course launches, enterprise partnerships, and technology innovations that shape Udemy's position in the competitive e-learning sector.
The curated collection features essential updates across multiple business dimensions: quarterly financial results, leadership changes, platform enhancements, and global expansion efforts. Content is organized chronologically for efficient tracking of corporate progress.
Bookmark this page for streamlined access to Udemy's latest official communications. Combine these primary sources with broader market analysis to inform your understanding of the company's evolving role in digital education.
Udemy has partnered with Sanjieke, a leading digital transformation training provider in China, to expand its learning platform in the region. This collaboration will introduce over 8,000 courses, including around 600 in Mandarin, aimed at enhancing professional development opportunities for the Chinese workforce. The partnership builds on Udemy's previous investment in Sanjieke's Series C funding round and reflects a strategic effort to address the digital skills gap in China. Udemy's commitment to global learning aligns with Sanjieke’s mission to provide high-quality training.
Udemy (Nasdaq: UDMY) and Benesse have partnered with the Tokyo Metropolitan Government to enhance digital transformation among local small and medium-sized enterprises (SMEs). This initiative aims to provide tailored educational resources to 500 employees from 250 SMEs by March 31, 2023, under the 'DX Reskilling Support Project.' Courses will focus on emerging technologies and skills, taught in Japanese by local instructors. This collaboration supports SMEs in addressing skills gaps and adapting to a rapidly changing business environment.
Udemy reported a significant increase in its second quarter 2022 results, showcasing a 21% rise in revenue to $153.1 million and a 77% growth in Udemy Business revenue to $74.6 million. The company's annual recurring revenue (ARR) for Udemy Business reached $316.1 million, up 74% year over year. Despite a GAAP net loss of $(29.4) million, the company noted operational growth with a 118% net dollar retention rate and increased customer engagement. Initiatives to enhance digital transformation and upskilling were also highlighted, alongside new product offerings.
Udemy has released its first-ever Environmental, Social, and Governance (ESG) impact report, highlighting its commitment to enhancing online learning globally. The report emphasizes Udemy's role during the COVID-19 pandemic, aiding over 52 million learners and 68,000 instructors since its inception in 2010. Key ESG pillars include providing quality education, advancing talent, and promoting diversity. Highlights include a 38% increase in international students and a 230% rise in non-profit learning hours, showcasing Udemy's significant societal impact.
Udemy (Nasdaq: UDMY) will announce its fiscal Q2 2022 financial results on August 3, 2022. The company plans to share its financial performance and business highlights during a live audio webcast at 5:00 p.m. EDT the same day, after market close. Interested parties can register for the conference call and access the live stream through Udemy's Investor Relations website. The archived replay will also be available post-event. Udemy focuses on skill development, offering a wide range of courses for individual learners and corporate clients.
Udemy has reported significant growth in the Asia-Pacific region, particularly with its Udemy Business offering. The first quarter of 2022 yielded nearly $500K in annual recurring revenue (ARR) from South Korea and marked the company's first deals in China. With over 8,000 courses available in 13 local languages, Udemy Business is actively collaborating with major firms such as Commonwealth Bank of Australia and Hyundai Mobis. The company emphasizes the importance of integrating learning into workplaces to enhance employee experiences and outcomes.
Udemy (Nasdaq: UDMY) has appointed Natalie Rothman to its board of directors, effective immediately. Rothman, currently Chief Human Resources Officer at Advance Auto Parts, brings valuable expertise in human resources and organizational development. She has a strong background at PepsiCo and experience in corporate labor law. Her addition aligns with Udemy's goal of enhancing corporate partnerships focused on skill development. Rothman will serve on the Compensation and Nominating Committees, joining a board of eight directors, seven of whom are independent, including three women.
Udemy reported Q1 2022 results, highlighting a 22% increase in overall revenue to $152.2 million, driven by a 77% growth in Udemy Business revenue, reaching $64.9 million. The annual recurring revenue (ARR) for Udemy Business surged 80% to $279.6 million, with a net dollar retention rate of 120%. Despite these gains, Udemy recorded a GAAP net loss of $(25.6) million. The company also expanded its customer base significantly and launched new features in its platform, aiming to cater to evolving market demands.
Udemy has been certified as a Great Place to Work® in the U.S., based on an independent analysis by the Great Place to Work Institute. This recognition highlights Udemy's strong workplace culture, with 94% of U.S. employees affirming it as a great workplace. The certification reflects the company’s commitment to employee experience, which is linked to higher revenue, retention, and innovation. This accolade adds to Udemy's recent recognitions, including awards in Ireland for excellence in workplace culture.
On April 27, 2022, Udemy (NASDAQ: UDMY) announced the expiration of lock-up agreements following its IPO, allowing the sale of 124,380,752 shares by directors and executive officers. This change may impact stock liquidity as these shares become available in the public market. Udemy is recognized for its online learning platform, providing diverse courses and corporate training solutions.
