UDMY · Udemy, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | - | - | - | - | - | - | - | - | - | - |
| Cost of Revenue | $62.14M | - | $66.81M | $67.83M | $70.86M | - | $72.36M | $73.24M | $76.28M | - |
| Gross Profit | $129.27M | - | $128.87M | $132.05M | $129.44M | - | $123.06M | $121.12M | $120.56M | - |
| R&D | $26.79M | - | $25.58M | $26.36M | $24.96M | - | $32.98M | $32.41M | $31.22M | - |
| SG&A | $25.39M | - | $21.94M | $21.83M | $25.01M | - | $22.27M | $27.26M | $24.77M | - |
| Total Operating Expenses | $141.79M | - | $129.03M | $128.12M | $133.94M | - | $152.51M | $146.66M | $143.29M | - |
| D&A | $6.36M | - | $800.0K | $900.0K | $6.21M | - | $700.0K | $800.0K | $6.48M | - |
| Operating Income | ($12.53M) | - | ($162.0K) | $3.93M | ($4.49M) | - | ($29.46M) | ($25.55M) | ($22.73M) | - |
| Interest Expense | $240.0K | - | $350.0K | $0 | $3.0K | - | ($504.0K) | $77.0K | $3.0K | - |
| Income Tax | $2.05M | - | $1.11M | $1.13M | $937.0K | - | $863.0K | $802.0K | $1.03M | - |
| Net Income | ($12.61M) | - | $1.64M | $6.26M | ($1.77M) | - | ($25.27M) | ($31.81M) | ($18.34M) | - |
| EPS - Basic | ($0.09) | - | $0.01 | $0.04 | ($0.01) | - | ($0.17) | ($0.21) | ($0.12) | - |
| EPS - Diluted | ($0.09) | - | $0.01 | $0.04 | ($0.01) | - | ($0.17) | ($0.21) | ($0.12) | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $252.56M | $231.49M | $235.93M | $230.26M | $189.62M | $190.59M | $204.56M | $272.36M | $256.81M | $305.56M |
| Accounts Receivable | $97.14M | $95.89M | $76.56M | $84.44M | $111.17M | $88.22M | $81.16M | $82.08M | $99.77M | $92.56M |
| Inventory | - | - | - | - | - | - | - | - | - | - |
| Accounts Payable | $12.89M | $8.20M | $6.53M | $7.41M | $4.43M | $6.31M | $4.27M | $3.67M | $3.08M | $2.51M |
| Current Assets | $533.63M | $524.21M | $524.14M | $547.50M | $541.06M | $506.33M | $508.01M | $567.90M | $603.43M | $632.33M |
| Total Assets | $634.59M | $617.70M | $618.90M | $643.96M | $638.99M | $605.63M | $608.90M | $671.94M | $708.45M | $741.20M |
| Current Liabilities | $416.15M | $400.07M | $389.18M | $402.67M | $420.32M | $397.48M | $402.85M | $408.84M | $408.29M | $380.13M |
| Long-term Debt | - | - | - | - | - | - | - | - | - | - |
| Total Liabilities | $422.41M | $407.24M | $397.09M | $410.60M | $429.63M | $408.23M | $412.65M | $419.69M | $411.96M | $384.30M |
| Stockholders' Equity | $212.18M | $210.46M | $221.81M | $233.36M | $209.36M | $197.39M | $196.26M | $252.25M | $296.49M | $356.89M |
| Retained Earnings | ($813.79M) | ($801.18M) | ($798.85M) | ($800.49M) | ($806.76M) | ($804.99M) | ($795.12M) | ($769.85M) | ($738.04M) | ($719.70M) |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $15.44M | - | - | - | $12.21M | - | - | - | $20.97M | - |
| Investing Cash Flow | $9.08M | - | - | - | ($7.41M) | - | - | - | ($3.77M) | - |
| Financing Cash Flow | ($2.92M) | - | - | - | ($5.91M) | - | - | - | ($66.47M) | - |
| CapEx | $548.0K | - | - | - | $2.38M | - | - | - | $197.0K | - |
| Free Cash Flow | $14.89M | - | - | - | $9.83M | - | - | - | $20.77M | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | - | - | - | - | - | - | - | - | - | - |
| Operating margin | - | - | - | - | - | - | - | - | - | - |
| EBITDA margin | - | - | - | - | - | - | - | - | - | - |
| Net margin | - | - | - | - | - | - | - | - | - | - |
| Free cash flow margin | - | - | - | - | - | - | - | - | - | - |
| FCF / Net income | -1.18 | - | - | - | -5.55 | - | - | - | -1.13 | - |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | - | - | - | - | - | - | - | - | - | - |
| Effective tax rate | - | - | 40.3% | 15.3% | - | - | - | - | - | - |
| Return on assets | -2.0% | - | 0.3% | 1.0% | -0.3% | - | -4.2% | -4.7% | -2.6% | - |
| Return on equity | -5.9% | - | 0.7% | 2.7% | -0.8% | - | -12.9% | -12.6% | -6.2% | - |
| Return on invested capital | - | - | - | - | - | - | - | - | - | - |
| Liquidity | ||||||||||
| Current ratio | 1.28 | 1.31 | 1.35 | 1.36 | 1.29 | 1.27 | 1.26 | 1.39 | 1.48 | 1.66 |
| Quick ratio | 1.28 | 1.31 | 1.35 | 1.36 | 1.29 | 1.27 | 1.26 | 1.39 | 1.48 | 1.66 |
| Cash ratio | 0.61 | 0.58 | 0.61 | 0.57 | 0.45 | 0.48 | 0.51 | 0.67 | 0.63 | 0.80 |
| Leverage | ||||||||||
| Debt / Equity | - | - | - | - | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | -52.2x | - | -0.5x | - | -1497.3x | - | 58.5x | -331.8x | -7576.3x | - |
| Equity multiplier | 2.99 | 2.93 | 2.79 | 2.76 | 3.05 | 3.07 | 3.10 | 2.66 | 2.39 | 2.08 |
| Liabilities / Assets | 0.67 | 0.66 | 0.64 | 0.64 | 0.67 | 0.67 | 0.68 | 0.62 | 0.58 | 0.52 |
| Efficiency | ||||||||||
| Asset turnover | - | - | - | - | - | - | - | - | - | - |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - | - | - | - | - | - |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | 76d | - | 36d | 40d | 23d | - | 22d | 18d | 15d | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | - | - | 701.0x | 175.8x | - | - | - | - | - | - |
| P / B | 3.2x | - | 4.8x | 4.5x | 5.5x | - | 5.7x | 5.2x | 5.8x | - |
| P / S | - | - | - | - | - | - | - | - | - | - |
| EV / EBITDA | - | - | 1300.3x | 171.4x | 559.9x | - | - | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| Revenue CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| Revenue CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Gross profit growth (YoY) | -0.1% | - | 4.7% | 9.0% | 7.4% | - | 14.5% | 18.4% | 20.9% | - |
| Operating income growth (YoY) | -178.9% | - | 99.5% | - | 80.2% | - | -37.0% | 7.0% | 51.9% | - |
| Net income growth (YoY) | -612.3% | - | - | - | 90.3% | - | -50.7% | -23.6% | 58.8% | - |
| EPS growth (YoY) | -800.0% | - | - | - | 91.7% | - | -54.5% | -23.5% | 61.3% | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | 51.5% | - | - | - | -52.7% | - | - | - | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | 1.3% | 6.6% | 13.0% | -7.5% | -29.4% | -44.7% | -43.3% | -24.3% | -8.8% | 5.2% |
Peer comparison
Same SIC group: Services-Educational Services
Comparing Udemy against the 5 most active filers in the same SIC group.