NASDAQ$UDMY
Udemy Inc · Q4 2022 earnings
Q4 2022 earnings · · Investor relations
Briefing
Udemy reported its Q4 2022 earnings, showing revenue growth and strategic actions for profitability.
Udemy's Q4 2022 saw a 22% year-over-year increase in total revenue, reaching $165.3 million. Udemy Business revenue grew by 57% to $90.6 million, while Consumer segment revenue decreased by 4% to $74.7 million. The company is focusing on balancing growth and margin expansion, aiming for adjusted EBITDA profitability in the second half of 2023.
- Total revenue increased by 22% year-over-year to $165.3 million.
- Udemy Business revenue grew by 57% year-over-year to $90.6 million.
- Consumer segment revenue decreased by 4% year-over-year to $74.7 million.
- Udemy Business Annual Recurring Revenue increased 55% year-over-year to $371.7 million.
Headline financials
Revenue & EPS history
Udemy · Revenue · Quarterly
$165M
Revenue by segment
Udemy · $76.6M total across 1 segment · Q2 2023
- Consumer$76.6M-2.4%100.0%
Forward guidance
Udemy expects revenue between $168 million and $172 million for the first quarter of 2023 and between $700 million and $730 million for the full year 2023. Adjusted EBITDA margin is expected to be between -10% and -8% for Q1 2023, and between -4% and -2% for the full year 2023.
Tailwinds
- Revenue guidance between $168 million and $172 million for Q1 2023.
- Revenue guidance between $700 million and $730 million for FY 2023.
- Focus on achieving adjusted EBITDA profitability in the second half of 2023.
- Strategic actions to streamline operations and cost structure.
- Anticipated annualized non-GAAP savings of approximately $30 to $32 million from workforce reduction.
Headwinds
- Adjusted EBITDA margin expected to be between -10% and -8% for Q1 2023.
- Adjusted EBITDA margin expected to be between -4% and -2% for FY 2023.
- Anticipated one-time charge of $8 to $9 million in Q1 2023 due to workforce reduction.
- Macroeconomic conditions impacting business operations.
- Foreign currency exchange rates expected to negatively impact total revenue year-over-year growth by approximately 6 percentage points in Q1 2023 and 3 percentage points for FY 2023.
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 Q4 2022
+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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