NASDAQ$UDMY
Udemy Inc · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
Udemy's Q3 2024 results were reported, demonstrating stronger-than-expected profitability through operational efficiency and surpassing $500 million in Udemy Business Annual Recurring Revenue.
Udemy's Q3 2024 results showed a 6% increase in total revenue to $195.4 million. The company surpassed $500 million in Udemy Business Annual Recurring Revenue and raised its full year 2024 adjusted EBITDA outlook due to disciplined operational efficiency. Adjusted EBITDA increased 41% year-over-year to $11.6 million.
- Total revenue increased by 6% year-over-year to $195.4 million.
- Udemy Business revenue increased by 16% year-over-year to $126.1 million.
- Udemy Business Annual Recurring Revenue (ARR) increased by 14% year-over-year to $504.6 million.
- The company spent approximately $51 million to buy back 6.3 million Udemy shares in Q3.
Headline financials
Revenue & EPS history
Udemy · Revenue · Quarterly
$195M
Revenue by segment
Udemy · $76.6M total across 1 segment · Q2 2023
- Consumer$76.6M-2.4%100.0%
Forward guidance
Udemy provides revenue guidance for the fourth quarter of 2024 between $193 to $196 million and expects an adjusted EBITDA margin of approximately 6.0%. For the full year 2024, Udemy anticipates revenue between $780 to $783 million and an adjusted EBITDA margin of approximately 4.5%.
Tailwinds
- Revenue guidance for Q4 2024 is set between $193 to $196 million.
- The company anticipates an adjusted EBITDA margin of approximately 6.0% for Q4 2024.
- Full year 2024 revenue is projected to be between $780 to $783 million.
- The adjusted EBITDA margin for the full year 2024 is expected to be around 4.5%.
- The revenue guidance range assumes historical changes in FX rates will have a negative 2 percentage point impact on fourth quarter year-over-year revenue growth.
Headwinds
- Revenue growth is expected to be negatively impacted by changes in foreign exchange rates by 2 percentage points in Q4 2024.
- Weighted average share count, basic, for the full year is expected to be 151 million, excluding potential share repurchase impacts.
- Weighted average share count, diluted, for the full year is expected to be 156 million, excluding potential share repurchase impacts.
- Udemy has not provided a quantitative reconciliation of forecasted Adjusted EBITDA to forecasted GAAP net income (loss).
- The company's outlook excludes any impact from potential future repurchase activities under their share repurchase program.
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 Q3 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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