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Mar 31, 2023
Udemy Q1 2023 Earnings Report
Udemy reported strong Q1 2023 results, exceeding expectations for revenue and adjusted EBITDA margin.
Key Takeaways
Udemy's Q1 2023 total revenue increased by 16% year-over-year to $176.4 million. Udemy Business revenue grew by 47% year-over-year. The company is focused on operational efficiency and making progress toward profitability.
Total revenue increased 16% year-over-year to $176.4 million.
Udemy Business revenue increased 47% year-over-year to $95.2 million.
Udemy Business Annual Recurring Revenue (ARR) increased 42% year-over-year to $396.0 million.
Launched innovative AI-powered tool for instructors to develop coding exercises
Revenue by Segment
Forward Guidance
Udemy provides revenue guidance for the second quarter of 2023 to be between $172 million and $174 million and full year ending December 31, 2023 revenue to be between $702 million - $730 million. Adjusted EBITDA margin for the second quarter is expected to be between (5)% - (3)% and for the full year to be between (3.5)% - (1.5)%.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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