NASDAQ$UDMY
Udemy Inc · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
Udemy reported solid Q4 and full year 2023 results, exceeding expectations and showing growth in revenue and customers.
Udemy's Q4 2023 results showed a 15% increase in total revenue year-over-year, reaching $189.5 million. The Enterprise segment revenue grew by 27%, while the Consumer segment revenue remained flat. The company ended the quarter with $480.9 million in cash, cash equivalents, restricted cash, and marketable securities.
- Total revenue increased 15% year-over-year to $189.5 million.
- Enterprise segment revenue increased 27% year-over-year to $114.7 million.
- Udemy Business Annual Recurring Revenue (ARR) increased 25% year-over-year to $466.0 million.
- Consumer segment revenue growth was flat year-over-year at $74.9 million.
Headline financials
Revenue & EPS history
Udemy · Revenue · Quarterly
$190M
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 first quarter of 2024 between $193 million and $196 million, and for the full year 2024 between $795 million and $810 million. Adjusted EBITDA margin is expected to be breakeven for Q1 2024 and 1.5%-2.0% for FY 2024.
Tailwinds
- Revenue guidance for Q1 2024 is between $193 million and $196 million.
- Revenue guidance for FY 2024 is between $795 million and $810 million.
- Adjusted EBITDA margin is expected to be breakeven for Q1 2024.
- Adjusted EBITDA margin is expected to be 1.5%-2.0% for FY 2024.
- Share repurchase program underscores confidence in strategy.
Headwinds
- Challenging operating environment creates some near-term headwinds.
- Revenue growth includes a negative impact of 1 percentage point from changes in foreign exchange (FX) rates year-over-year.
- Consumer segment revenue growth was flat year-over-year.
- Revenue guidance assumes constant FX rates set at the start of the year.
- Revenue guidance assumes an estimated negative impact of 3 percentage points for the full year 2024 due to historical changes in FX rates.
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 2023
+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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