Udemy demonstrated strong momentum in Q3 2025, with revenue remaining stable year-over-year and a significant improvement in net income, turning a loss into a profit. The company surpassed its full-year target for paid consumer subscribers early, driven by a strategic shift towards higher-value recurring revenue streams, particularly in the Consumer segment.
Total revenue for Q3 2025 was $195.7 million, consistent with the prior year.
Net income significantly improved to $1.6 million, compared to a net loss of $25.3 million in Q3 2024.
Paid consumer subscribers reached 294,000, exceeding the full-year target ahead of schedule.
Udemy Business Net Dollar Retention Rate was 93%, and Free Cash Flow was positive $12.1 million for the quarter.
Udemy provided guidance for the fourth quarter and full year ending December 31, 2025, anticipating continued revenue growth and improved Adjusted EBITDA.
Visualization of income flow from segment revenue to net income
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