UDEMY Announces Q2 Fiscal Year 2023 Earnings Results on August 3, 2023
August 14, 2023
🌥️Earnings Overview
On August 3, 2023, UDEMY ($NASDAQ:UDMY) reported its financial results for the second quarter of its fiscal year 2023 (ending June 30, 2023) with total revenue of USD 178.2 million, a 16.4% jump from the previous year. The net income for this quarter was USD -25.7 million, a significant improvement from the -29.4 million loss in the same quarter of the prior year.
Market Price
The announcement showed that stock opened at $11.2 and closed at $11.3, slightly down by 0.1% from its last closing price of $11.3. Despite this small dip, UDEMY‘s financial results showed improved performance in the second quarter of the year with overall revenue increasing from the previous year. This was further supplemented by strong growth in its corporate training and corporate education programs. The company also highlighted the success of their new online programs which have helped them reach a wider audience.
Overall, UDEMY’s strong performance in Q2 of 2023 reaffirms the company’s commitment to providing quality learning experiences to its customers and investors. The stock’s slight dip in value despite the good news is likely due to short-term market volatility and should not be taken seriously. Moving forward, UDEMY looks to continue its streak of strong performance the remainder of the fiscal year. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Udemy. UDEMY_Announces_Q2_Fiscal_Year_2023_Earnings_Results_on_August_3_2023″>More…
| Total Revenues | Net Income | Net Margin |
| 678.43 | -169.12 | -24.0% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Udemy. UDEMY_Announces_Q2_Fiscal_Year_2023_Earnings_Results_on_August_3_2023″>More…
| Operations | Investing | Financing |
| -50.93 | -154.48 | 16.41 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Udemy. UDEMY_Announces_Q2_Fiscal_Year_2023_Earnings_Results_on_August_3_2023″>More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 722.14 | 389.02 | 2.22 |
Key Ratios Snapshot
Some of the financial key ratios for Udemy are shown below. UDEMY_Announces_Q2_Fiscal_Year_2023_Earnings_Results_on_August_3_2023″>More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 31.6% | – | -23.9% |
| FCF Margin | ROE | ROA |
| -9.7% | -30.7% | -14.0% |
Analysis
At GoodWhale, we recently conducted an analysis of UDEMY‘s wellbeing, and based on our Risk Rating, we have determined that UDEMY is a medium risk investment when it comes to financial and business aspects. We believe there are potential risks in these areas, and so we recommend that investors interested in UDEMY register with us to take a closer look. Our Risk Rating system takes numerous key factors into consideration, such as the organization’s financial health, its legal position, and its other business operations. We apply a comprehensive methodology to ensure that the data we obtain is as accurate as possible. In the case of UDEMY, our analysis indicates that while there are a number of factors that could present a risk, the overall risk rating is still considered to be in the medium range. We believe that further investigation is necessary to determine the level of risk associated with this particular investment opportunity. At GoodWhale, we are committed to providing our clients with the most reliable and up-to-date information available. By registering with us, you can gain access to our proprietary data and analysis in order to get a better understanding of UDEMY’s financial and business risks. With our help, you can make an informed decision about whether or not to invest in this opportunity. More…
Peers
Udemy Inc, a leading online learning platform, offers a wide range of courses and training programs to its users. Its competitors, Upstryve Inc, Ace Edulink Co Ltd, and Coursera Inc, provide similar services and cater to a similar target audience. While all three companies offer a variety of courses and programs, Udemy Inc has a significant edge in terms of the number of courses and programs offered, as well as the quality of its offerings.
– Upstryve Inc ($OTCPK:PBYA)
Upstryve Inc is a publicly traded company with a market capitalization of $11.06 million as of 2022. The company has a negative return on equity of -0.42%. Upstryve is engaged in the business of providing technology-based solutions to the mortgage industry.
– Ace Edulink Co Ltd ($TPEX:6764)
Ace Edulink Co Ltd is a provider of educational services. The company offers a range of services, including academic advising, career counseling, and admissions consulting. It also provides online courses and programs. The company was founded in 2006 and is headquartered in Hong Kong.
– Coursera Inc ($NYSE:COUR)
Coursera is an online education company that offers courses, specializations, and degrees from top universities and companies. Its mission is to make access to education convenient, affordable, and effective for everyone. As of 2022, Coursera has a market cap of $2.03 billion and a return on equity of -14.81%. The company’s courses are available online and can be accessed from anywhere in the world.
Summary
Investor sentiment on UDEMY has been positive following the company’s earnings report for the second quarter of its fiscal year 2023. The total revenue for the quarter was USD 178.2 million, representing a 16.4% year-on-year increase. Net income improved from a loss of -29.4 million the previous year to -25.7 million. This is the third consecutive quarter UDEMY has reported improved financial performance, indicating that the company is continuing to grow and is on track to reach its long-term goals.
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