Udemy, Inc. Stock Price, News & Analysis

Udemy's new research challenges stereotypes about Generation Z (Gen Z) in the workplace. The study, based on over 6,500 responses, reveals that 65% of Gen Z are highly motivated by professional development, surpassing Millennials and Gen X. Despite high engagement with generative AI (GenAI), Gen Z is the most skeptical about AI's effectiveness in online learning.

Key findings include:

• 70% of Gen Z likely to use AI-driven personalized learning platforms
• 48% concerned about AI accuracy, 38% about potential bias
• 84% consider soft skills critical for professional success
• 94% dedicate at least an hour weekly to learning
• 44% prefer complete online courses for learning

The research suggests that employers should focus on responsible AI integration, soft skills development, and diverse learning formats to attract and retain Gen Z talent.

Udemy (Nasdaq: UDMY), a leading online skills marketplace and learning platform, has announced the return of co-founder Eren Bali as Chief Technology Officer (CTO), effective August 12, 2024. Bali, who previously served as CEO until 2014, will oversee engineering, data, and technical program management teams, reporting directly to CEO Greg Brown. His appointment aims to accelerate Udemy's product strategy, bolster enterprise business growth, and drive innovation in direct-to-consumer offerings.

Bali succeeds Venu Venugopal, who has been CTO since May 2019 and will continue in an advisory role. The move reflects Udemy's commitment to evolving learning with AI and delivering value to customers. Bali's extensive background in product launches, market expansions, and team-building is expected to contribute significantly to Udemy's future development.

Udemy's Q2 2024 Global Workplace Learning Index reveals key trends in corporate learning. Problem-solving, teamwork, and change management emerged as top professional skills, highlighting the importance of soft skills in navigating tech-driven changes. IT certification preparation courses saw high demand, with 11 million learner enrollments over the past year. Generative AI course consumption increased by 37%, while ChatGPT courses rose by 40%.

Organizations are investing in Diversity and Inclusion courses, with a 12% increase overall and a 31% surge in the manufacturing sector. This focus aligns with Udemy's research showing that 67% of employees believe a skills-based approach improves workplace fairness. The report underscores the shift towards skills-based talent management and the critical role of upskilling in addressing global skills gaps.

Udemy (UDMY) reported Q2 2024 results, with revenue at the high-end of guidance and exceeding Adjusted EBITDA expectations. Key highlights include:

• Revenue increased 9% YoY to $194.4 million
• Udemy Business revenue grew 19% YoY to $120.6 million
• Adjusted EBITDA of $5.5 million, up from $1.9 million in Q2 2023
• Achieved milestone of one billion course enrollments

The company announced a strategic shift to focus on large enterprise customers, targeting $130-$150 million Adjusted EBITDA for FY 2026. Udemy is implementing cost-saving measures and expects at least $25 million in annualized structural cost-savings. The company also continued its $150 million share repurchase program, buying back 3.8 million shares for approximately $35 million in Q2.

Udemy has launched a new course, 'Ultimate AWS Certified AI Practitioner AIF-C01', created by instructor Stephane Maarek. This course aims to prepare professionals for the new AWS Certified AI Practitioner exam, focusing on generative AI (GenAI), AI, and machine learning (ML) concepts. The launch comes as demand for GenAI content surges on Udemy's platform, with a 21% increase in GenAI course consumption reported in Q1 2024.

Key highlights include:

• Over 4 million enrollments in GenAI courses in the past year
• 11 million enrollments in IT certification preparation courses, with 2.5 million for AWS certifications
• 3.3 million enrollments in ChatGPT-related courses since December 2022

The new course covers GenAI and AI/ML concepts, teaching learners to identify AI application opportunities and use AI tools responsibly.

Udemy has launched a new course led by McLaren Racing executives, offering insights into fostering high-performance cultures. The course, 'Accelerating Excellence: Unleashing High-Performance Culture with McLaren Racing', addresses modern work challenges and emphasizes continuous improvement and inclusivity. Key themes include decision-making under pressure, leveraging marginal gains, and prioritizing team wellbeing.

The course is available to over 70 million learners across Udemy's platforms, with subtitles in 14 languages. This initiative is part of Udemy's role as the Official Learning and Skills Partner of McLaren Racing, which includes various skills-oriented events and programs. The partnership aims to empower professionals with insights from the fast-paced motorsports industry, applicable across various sectors.

Udemy (Nasdaq: UDMY) announced it will release its second quarter 2024 financial results after market close on Wednesday, July 31, 2024.

The company will host a live conference call and webcast to discuss these results at 2 p.m. PT / 5 p.m. ET the same day. Access to the live webcast and a recorded replay of the call will be available on Udemy's Investor Relations website. The live call can be accessed toll-free via phone at (833) 630-1963 for domestic callers and (412) 317-5702 for international callers. The webcast replay will remain available for approximately one year.

Udemy (Nasdaq: UDMY) has expanded its Badging and Certification preparation offerings to all learners through its Personal Plan subscription. New features for Udemy Business customers include curated content for third-party certification exams, personalized insights dashboards, and the ability to host and share badges. With over 10 million enrollments in IT certification courses in the past year, Udemy aims to help organizations and individuals validate and showcase their skills. The platform now supports third-party certifications from AWS, Azure, and CompTIA, among others. Udemy's new features also include Badge Upload/Download for skill verification and Badge Insights dashboards for tracking progress, aiding professional development and retention.

Udemy, in collaboration with AWS, announced a new generative AI upskilling program called 'Unlocking GenAI Opportunities with AWS,' designed to equip leaders with GenAI tools and strategies. The six-week cohort program, offered through the Udemy Business Leadership Academy, aims to foster innovation, enhance productivity, and drive revenue growth. Key features include practical exercises using Amazon Bedrock, innovation tournaments, and change management strategies. The program addresses the need for tech-savvy leadership, responsible innovation, and inspirational change management to navigate the digital transformation effectively.