Udemy(US:UDMY)2025-04-30 20:13Revenue Performance - Total revenue increased 2% year-over-year to $200.3 million, with a negative impact of 2 percentage points from foreign exchange rates[5] - Enterprise segment revenue of $127.7 million increased 9% year-over-year, including a negative impact of 1 percentage point from foreign exchange rates[5] - Consumer segment revenue decreased 8% year-over-year to $72.6 million, with a negative impact of 3 percentage points from foreign exchange rates[5] - Udemy Business Annual Recurring Revenue (ARR) increased 8% year-over-year to $519.0 million[5] - Revenue for Q1 2025 was $200.3 million, a 2.3% increase from $196.8 million in Q1 2024[26] Profitability and Loss - Net loss was $1.8 million, a significant improvement of 90% year-over-year, while Adjusted EBITDA was $21.1 million, representing an 800 basis point expansion in margin to 11%[5] - Net loss for Q1 2025 decreased to $1.8 million from $18.3 million in Q1 2024, with net loss per share improving from $(0.12) to $(0.01)[34] - Adjusted EBITDA for Q1 2025 was $21.1 million, compared to $6.5 million in Q1 2024, reflecting an adjusted EBITDA margin of 11%[35] Operating Expenses - Total operating expenses for Q1 2025 were $133.9 million, down from $143.3 million in Q1 2024, primarily due to reduced sales and marketing expenses[26] - Stock-based compensation expense for Q1 2025 was $18.0 million, down from $22.7 million in Q1 2024[34] Customer Growth and Engagement - Added 2 million new learners and nearly 120 net new Enterprise customers, ending the quarter with a total of 79 million learners and 17,216 Enterprise customers[5] - The company continues to focus on expanding its Udemy Business offerings, targeting enterprise clients with on-demand learning solutions[24] Financial Guidance - Guidance for Q2 2025 revenue is projected between $195 million and $199 million, with full year 2025 revenue guidance between $772 million and $794 million[7] - The company expects a negative impact of 1.5 percentage points on Q2 year-over-year revenue growth due to foreign exchange rates[8] Market Recognition - Recognized as a Strategic Leader in the 2025 Fosway 9-Grid™ for Digital Learning, highlighting its market position[5] Cash and Receivables - Cash, cash equivalents, and restricted cash at the end of Q1 2025 totaled $190.7 million, slightly down from $191.8 million at the beginning of the period[30] - Accounts receivable increased to $111.2 million in Q1 2025 from $88.2 million in Q4 2024, indicating improved sales performance[28] - Deferred revenue increased to $326.3 million in Q1 2025, up from $291.1 million in Q4 2024, suggesting strong demand for Udemy's services[28] Gross Profit - Gross profit for Q1 2025 was $129.4 million, compared to $120.6 million in Q1 2024, resulting in a gross margin of 65%[32]