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. (Nasdaq: UDMY) is a renowned global marketplace dedicated to online learning and teaching. The platform connects more than 24 million students with an extensive library of over 80,000 courses, delivered by expert instructors in more than 50 languages. Udemy caters to both professional development and personal enrichment needs, offering self-paced, on-demand courses that enable learners to master new skills at their convenience.
For enterprises, Udemy for Business provides a subscription-based service that grants access to a diverse range of business-relevant courses. Companies can also use the platform to host and distribute their own training content. This dual offering positions Udemy at the center of a dynamic knowledge network, facilitating effective skill acquisition and development with exceptional flexibility.
The company operates under two primary segments: Consumer and Enterprise, with the latter generating the majority of its revenue. Geographically, North America represents Udemy's largest revenue source. Leveraging cutting-edge technology, data insights, and an intelligent skills platform, Udemy ensures a superior learning experience for individuals and organizations alike.
Recent Achievements and Projects:
- Launch of new offerings aimed at bridging skills gaps more swiftly and enhancing learning outcomes.
- Authorization of a $100 million share repurchase program, reflecting strong confidence in the company’s future prospects by the Board and management.
- Insightful reports highlighting emerging trends and demands in technical and business skills among nearly 16,000 Udemy Business customers globally.
Financial Performance:
In the first quarter of 2024, Udemy exceeded its financial guidance for both the top and bottom lines. The company reported significant progress in establishing its Intelligent Skills Platform, which facilitates personalized and immersive learning experiences. Udemy also expanded its share repurchase program by an additional $50 million, underscoring its commitment to shareholder value and long-term growth.
Strategic Partnerships: Udemy partners with various industry leaders, including Fender, Glassdoor, On24, The World Bank, and Volkswagen, to provide comprehensive learning solutions that meet evolving workplace demands.
Headquartered in San Francisco, Udemy maintains offices in diverse locations such as Dublin, Ireland; Ankara, Turkey; and São Paulo, Brazil, ensuring a global reach and presence.
Udemy (Nasdaq: UDMY) has launched Udemy IR Access, an innovative investor engagement initiative aimed at enhancing communications with investors. This initiative includes an investor relations blog and video content that provides regular updates on business developments. The first event will be a live webcast of the Udemy Business customer panel scheduled for April 18, 2023. This panel will showcase insights from leaders at Cisco and Devoteam, discussing the value of learning and development in their organizations. The investor relations blog will help Udemy comply with disclosure obligations under Regulation FD and keep stakeholders informed. This commitment to transparency reflects Udemy’s broader mission to improve lives through learning.
Udemy has announced that its CEO, Greg Brown, will participate in a fireside chat during the Jefferies Virtual Online Education/e-Learning Summit on March 14, 2023, at 8:15 a.m. PT / 11:15 a.m. ET. The event will be available via a live webcast on Udemy's investor relations website, with a replay accessible for approximately 90 days following the event. Udemy, listed on Nasdaq under UDMY, is committed to improving lives through flexible and effective online learning.
Udemy (Nasdaq: UDMY) announced a live webcast of a fireside chat featuring Incoming CEO Greg Brown and CFO Sarah Blanchard on March 7, 2023, at 12:15 p.m. PT / 3:15 p.m. ET. This session will be part of Morgan Stanley’s Technology, Media & Telecom Conference and will focus on Udemy’s growth in online learning. Investors can access the live stream through the ‘Events & Presentations’ section on Udemy's investor relations website. The archived replay will be available for about 90 days. Udemy, headquartered in San Francisco, provides flexible learning solutions with a marketplace for skill development, hosting thousands of courses in various subjects.
Udemy reported a 22% increase in total revenue year-over-year for Q4 2022, reaching $165.3 million, and for the full year at $629.1 million. The Udemy Business segment saw a remarkable 57% growth to $90.6 million, while the Consumer segment experienced a 4% decline to $74.7 million. The company intends to reduce its workforce by 10%, incurring one-time severance costs of $8 to $9 million, but anticipates annualized savings of $30 to $32 million. Udemy aims for adjusted EBITDA profitability in the second half of 2023.
Udemy (Nasdaq: UDMY) has announced that it will report its fourth quarter and full year 2022 financial results on February 14, 2023, after the market closes. A live conference call is scheduled for the same day at 2 p.m. PT / 5 p.m. ET to discuss these results. Investors can access the live call via telephone or through a webcast on Udemy's Investor Relations website. The archived replay will be available for approximately one year. This event is crucial for stakeholders seeking insights into Udemy's financial performance and strategic direction.
Udemy (Nasdaq: UDMY) has been recognized on Built In's Best Places to Work list, earning seven awards at national and regional levels. These accolades include recognition as a Best Large Place to Work in the U.S., Austin, Colorado, and San Francisco. Karen Fascenda, Chief People Officer, noted that 93% of employees are proud to work for Udemy. The awards highlight Udemy's commitment to a supportive company culture, competitive compensation, and benefits.
Udemy (Nasdaq: UDMY) announces the retirement of CEO and Chairman Gregg Coccari effective February 28, 2023. Greg Brown, previously President of Udemy Business, will take over as CEO and join the Board of Directors. Jeff Lieberman will serve as Interim Chair. The transition aims to strengthen corporate governance by separating the Chair and CEO roles. The company projects Q4 2022 revenue between $164 to $167 million, with an adjusted EBITDA margin exceeding previous guidance, emphasizing efficient expense management.
Udemy announced the appointment of Karen Fascenda as Chief People Officer and Nathan Blain as General Manager of Cohort Learning. These new leaders bring over 60 years of experience to Udemy, which is focusing on enhancing its workplace culture and driving corporate learning strategies. Fascenda will lead employee engagement and talent retention efforts, while Blain will oversee the cohort learning division, promoting leadership development for corporate clients. Their appointments come at a critical growth phase for Udemy as it addresses skills gaps and expands its learning offerings.
Udemy (Nasdaq: UDMY) announced a virtual fireside chat with CFO Sarah Blanchard and President Greg Brown at the 25th Annual Needham Growth Conference. The event is scheduled for January 12, 2023, at 7:15 a.m. PT / 10:15 a.m. ET. Investors can access the live webcast through the 'Events & Presentations' section on Udemy's investor relations website, with an archived replay available for 90 days. Udemy aims to improve lives through learning, offering a platform for flexible skill development and a broad range of courses from real-world experts.
Udemy (Nasdaq: UDMY) announced significant expansion in Latin America, securing new partnerships to enhance skill development. With access to 19,000 courses across 14 languages, Udemy Business addresses corporate learning needs, currently serving 4.4 million learners in Brazil and millions more across the region. Partnerships with notable organizations like HSM and CognosOnline aim to provide tailored e-learning solutions to various sectors, fostering a culture of continuous learning.
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