Brief: Udemy Reports Fourth Quarter And Full Year 2022 Results

Udemy

14/02/2023 21:43

Feb 14 (Reuters) - Udemy Inc  UDMY.O :
    * UDEMY REPORTS FOURTH QUARTER AND FULL YEAR 2022 RESULTS
    * TOTAL REVENUE INCREASED 22% YEAR-OVER-YEAR FOR BOTH Q4 AND
FULL
YEAR
    * QTRLY MONTHLY AVERAGE BUYERS ON UDEMY'S CONSUMER
MARKETPLACE
DECREASED BY 2% YEAR-OVER-YEAR
    * TO REDUCE ITS GLOBAL WORKFORCE BY APPROXIMATELY 10%
    * EMPLOYEE NOTIFICATIONS ARE COMPLETE AND ACTION WILL RESULT
IN A
ONE-TIME CHARGE IN Q1 2023 OF $8 TO $9 MILLION IN NON-GAAP
SEVERANCE COSTS
    * EXPECTS TO BE PROFITABLE ON AN ADJUSTED EBITDA BASIS FOR
SECOND
HALF OF 2023
    * EXPECTS WORKFORCE CUT ACTIONS TO RESULT IN ANNUALIZED
NON-GAAP
SAVINGS OF APPROXIMATELY $30 TO $32 MILLION
    * SEES Q1 REVENUE $168 MILLION - $172 MILLION
    * SEES 2023 REVENUE $700 MILLION - $730 MILLION
    * Q4 REVENUE VIEW $166.0 MILLION -- REFINITIV IBES DATA
    * FY2023 REVENUE VIEW $777.3 MILLION -- REFINITIV IBES DATA

Source text for Eikon:  ID:nGNX1Q3cJv 
Further company coverage:  UDMY.O 
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