Udemy, Inc. Reports Strong 2024 Performance

Udemy, Inc. ( (UDMY) ) has released its Q4 earnings. Here is a breakdown of the information Udemy, Inc. presented to its investors.

Udemy, Inc. is a prominent online skills marketplace and learning platform that offers a wide range of courses and solutions for individual learners and enterprise clients, focusing on upskilling and professional development. In its latest earnings report, Udemy revealed its strong performance for the fourth quarter and full year of 2024, highlighted by an 18% growth in Enterprise revenue and record Adjusted EBITDA. The company also completed a significant $150 million share repurchase program.

For the fiscal year 2024, Udemy’s total revenue increased by 8% to $786.6 million, despite facing a negative impact of 2 percentage points due to foreign exchange rates. The Enterprise segment was a key driver of growth, contributing $494.5 million in revenue, marking an 18% year-over-year increase. However, the Consumer segment experienced a decline, with revenue dropping by 5% to $292.1 million. The company ended the year with $355.7 million in cash and marketable securities.

Udemy attracted eight million new learners and nearly 1,400 new Enterprise customers throughout 2024, bringing its total to 77 million learners and 17,096 Enterprise customers. The company expanded its global reach with new or expanded relationships with major clients across various regions and industries. Additionally, Udemy opened a new office in Mexico City to strengthen its presence in the LATAM market and partnered with Ingram Micro to enhance upskilling opportunities in India.

Looking ahead, Udemy’s management remains optimistic about the company’s potential, particularly in addressing the growing demand for skills development in the era of generative AI. While 2025 is expected to be a transition year, the company is focused on executing its strategic initiatives to drive sustainable growth and long-term value for stakeholders.