Udemy slightly beats Q4 revenue estimates on subscription growth

Udemy

05/02/2026 21:18

Overview

AI-powered skills platform's Q4 revenue slightly beat analyst expectations

Adjusted EBITDA for Q4 beat consensus

Company announced pending merger with Coursera, subject to approvals

Outlook

Udemy will not provide financial guidance due to pending merger with Coursera

Company highlights strategic focus on subscription revenue and AI-driven learning solutions

Udemy notes increasing demand for AI content and enterprise reskilling needs

Result Drivers

SUBSCRIPTION REVENUE GROWTH - Consolidated subscription revenue increased 7% year-over-year, now comprising 76% of total revenue, supporting the subscription-first strategy

ENTERPRISE SEGMENT - Enterprise segment revenue increased 3% year-over-year, aided by a $12.8 million increase in Net New ARR

CONSUMER SUBSCRIPTION INCREASE - Consumer subscription revenue rose 53% year-over-year, reflecting a strategic pivot towards recurring revenue

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q4 Revenue
Slight Beat*
$194 mln
$193.41 mln (7 Analysts)
Q4 Net Income
-$2.30 mln
Q4 Adjusted EBITDA
Beat
$21.40 mln
$19.67 mln (6 Analysts)
Q4 Gross Margin
66.00%
Q4 Adjusted EBITDA Margin
11.00%
Q4 Gross Profit
$128 mln


*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 3 "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the online services peer group is "buy."

Wall Street's median 12-month price target for Udemy Inc is $8.00, about 66% above its February 4 closing price of $4.82

The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 11 three months ago

Press Release: ID:nBwc5yWf2a

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)