NASDAQ$UDMY
Udemy Inc · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Udemy delivered a strong start to the year, with first quarter results exceeding guidance and strategic progress made in establishing the company as a leading skills development platform.
Udemy's Q1 2024 results showed a 12% year-over-year revenue increase to $196.8 million, exceeding guidance. The company's Enterprise segment (Udemy Business) grew by 24%, while Consumer segment revenue decreased by 2%. The board authorized a $50 million expansion of the share repurchase program to $150 million, reflecting confidence in the company's long-term opportunity.
- Total revenue increased by 12% year-over-year to $196.8 million.
- Enterprise segment revenue increased by 24% year-over-year to $117.6 million.
- Udemy Business Annual Recurring Revenue (ARR) increased 21% year-over-year to $479.4 million.
- The Board approved the expansion of the share repurchase program to $150 million.
Headline financials
Revenue & EPS history
Udemy · Revenue · Quarterly
$197M
Revenue by segment
Udemy · $76.6M total across 1 segment · Q2 2023
- Consumer$76.6M-2.4%100.0%
Forward guidance
Udemy provides guidance for Q2 and full year 2024, based on current market conditions and expectations, with revenue guidance assuming historical changes in FX rates will have a negative one percentage point impact.
Tailwinds
- Q2 2024 Revenue: $192 to $195 million
- Q2 2024 Adjusted EBITDA Margin: (50) to 50 basis points
- Full Year 2024 Revenue: $795 to $805 million
- Full Year 2024 Adjusted EBITDA Margin: 200 to 300 basis points
- Weighted Average Share Count, Basic: 156 million
Headwinds
- Q2 2024 Weighted Average Share Count, Basic: 155 million
- Q2 2024 Weighted Average Share Count, Diluted: 158 million
- Full Year 2024 Weighted Average Share Count, Diluted: 162 million
- Revenue guidance assumes FX rates will remain unchanged from the end of the first quarter of 2024.
- Udemy has not provided a quantitative reconciliation of forecasted Adjusted EBITDA to forecasted GAAP net income (loss)
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q1 2024
+2.0%
Avg return
Earnings day
+1.9%
Avg return
5 days after
-0.6%
Avg return
30 days after
50%
12 / 24 earnings
Positive
+40.7%
Q3 2023
Best reaction
-22.1%
Q4 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -2.9% | — | — | |
| Q4 2025 | +0.0% | -2.3% | +3.8% | |
| Q3 2025 | -11.6% | -16.5% | -20.4% | |
| Q2 2025 | +9.2% | +4.6% | -1.9% | |
| Q1 2025 | -6.6% | -5.7% | +6.6% | |
| Q4 2024 | +28.0% | +29.2% | +4.9% | |
| Q3 2024 | -1.1% | -2.7% | -2.5% | |
| Q2 2024 | -17.7% | -22.2% | -7.3% | |
| Q1 2024 | +0.7% | +0.2% | -12.1% | |
| Q4 2023 | -22.1% | -20.9% | -21.4% | |
| Q3 2023 | +40.7% | +40.9% | +67.2% | |
| Q2 2023 | -4.5% | -4.1% | -9.6% | |
| Q1 2023 | +2.9% | +1.5% | +21.4% | |
| Q4 2022 | -0.7% | -11.8% | -23.9% | |
| Q3 2022 | -3.9% | +0.8% | -2.7% | |
| Q2 2021 | +23.0% | +23.2% | +21.7% | |
| Q2 2022 | +23.0% | +23.2% | +21.7% | |
| Q1 2021 | +5.1% | +18.8% | +39.5% | |
| Q1 2022 | +5.1% | +18.8% | +39.5% | |
| Q4 2019 | +1.0% | +3.2% | -15.0% | |
| Q4 2021 | -13.0% | -14.2% | -30.8% | |
| Q3 2020 | +0.2% | -7.0% | -30.2% | |
| Q4 2020 | +0.2% | -7.0% | -30.2% | |
| Q3 2021 | -6.5% | -5.8% | -32.5% | |
| Q2 2020 | — | — | — | |
| Q1 2020 | — | — | — |
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