Udemy Inc
NASDAQ:UDMY
Income Statement
Earnings Waterfall
Udemy Inc
Revenue
|
728.9m
USD
|
Cost of Revenue
|
-309.6m
USD
|
Gross Profit
|
419.3m
USD
|
Operating Expenses
|
-531m
USD
|
Operating Income
|
-111.6m
USD
|
Other Expenses
|
4.3m
USD
|
Net Income
|
-107.3m
USD
|
Income Statement
Udemy Inc
Dec-2019 | Mar-2020 | Jun-2020 | Sep-2020 | Dec-2020 | Mar-2021 | Jun-2021 | Sep-2021 | Dec-2021 | Mar-2022 | Jun-2022 | Sep-2022 | Dec-2022 | Mar-2023 | Jun-2023 | Sep-2023 | Dec-2023 | ||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Revenue | ||||||||||||||||||
Revenue |
276
N/A
|
295
+7%
|
341
+15%
|
394
+16%
|
430
+9%
|
463
+8%
|
479
+4%
|
490
+2%
|
516
+5%
|
543
+5%
|
570
+5%
|
599
+5%
|
629
+5%
|
653
+4%
|
678
+4%
|
705
+4%
|
729
+3%
|
|
Gross Profit | ||||||||||||||||||
Cost of Revenue |
(144)
|
(154)
|
(182)
|
(197)
|
(209)
|
(222)
|
(219)
|
(228)
|
(236)
|
(245)
|
(254)
|
(265)
|
(275)
|
(286)
|
(296)
|
(304)
|
(310)
|
|
Gross Profit |
133
N/A
|
141
+6%
|
158
+12%
|
198
+25%
|
221
+12%
|
241
+9%
|
261
+8%
|
263
+1%
|
280
+6%
|
299
+7%
|
316
+6%
|
334
+6%
|
354
+6%
|
368
+4%
|
383
+4%
|
401
+5%
|
419
+5%
|
|
Operating Income | ||||||||||||||||||
Operating Expenses |
(201)
|
(221)
|
(255)
|
(277)
|
(294)
|
(309)
|
(312)
|
(326)
|
(357)
|
(385)
|
(420)
|
(472)
|
(505)
|
(531)
|
(545)
|
(541)
|
(531)
|
|
Selling, General & Administrative |
(167)
|
(182)
|
(213)
|
(232)
|
(243)
|
(256)
|
(255)
|
(264)
|
(291)
|
(311)
|
(336)
|
(376)
|
(399)
|
(416)
|
(425)
|
(419)
|
(409)
|
|
Research & Development |
(34)
|
(39)
|
(42)
|
(45)
|
(51)
|
(53)
|
(57)
|
(61)
|
(66)
|
(73)
|
(83)
|
(94)
|
(105)
|
(113)
|
(119)
|
(121)
|
(120)
|
|
Depreciation & Amortization |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(0)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
|
Operating Income |
(68)
N/A
|
(80)
-17%
|
(97)
-21%
|
(79)
+18%
|
(73)
+7%
|
(68)
+7%
|
(51)
+25%
|
(63)
-23%
|
(78)
-24%
|
(86)
-11%
|
(104)
-20%
|
(138)
-33%
|
(151)
-10%
|
(163)
-8%
|
(162)
+1%
|
(140)
+13%
|
(112)
+20%
|
|
Pre-Tax Income | ||||||||||||||||||
Interest Income Expense |
0
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
0
|
0
|
1
|
1
|
4
|
8
|
13
|
18
|
20
|
|
Non-Reccuring Items |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(0)
|
(0)
|
(1)
|
(1)
|
(0)
|
3
|
(10)
|
(10)
|
(10)
|
(8)
|
|
Total Other Income |
(0)
|
(1)
|
0
|
0
|
0
|
(0)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(5)
|
(8)
|
(5)
|
(6)
|
(3)
|
(4)
|
|
Pre-Tax Income |
(68)
N/A
|
(81)
-19%
|
(98)
-21%
|
(80)
+18%
|
(75)
+7%
|
(69)
+8%
|
(52)
+24%
|
(64)
-23%
|
(79)
-23%
|
(87)
-10%
|
(105)
-21%
|
(141)
-35%
|
(152)
-7%
|
(170)
-12%
|
(165)
+3%
|
(135)
+18%
|
(104)
+23%
|
|
Net Income | ||||||||||||||||||
Tax Provision |
(1)
|
(2)
|
(3)
|
(3)
|
(3)
|
(3)
|
(3)
|
(2)
|
(1)
|
(1)
|
(1)
|
(2)
|
(2)
|
(3)
|
(4)
|
(4)
|
(4)
|
|
Income from Continuing Operations |
(70)
|
(83)
|
(101)
|
(83)
|
(78)
|
(72)
|
(55)
|
(66)
|
(80)
|
(88)
|
(106)
|
(143)
|
(154)
|
(173)
|
(169)
|
(139)
|
(107)
|
|
Net Income (Common) |
(70)
N/A
|
(83)
-20%
|
(101)
-21%
|
(83)
+18%
|
(78)
+6%
|
(72)
+7%
|
(55)
+25%
|
(66)
-21%
|
(80)
-22%
|
(88)
-10%
|
(106)
-21%
|
(143)
-35%
|
(154)
-8%
|
(173)
-12%
|
(169)
+2%
|
(139)
+18%
|
(107)
+23%
|
|
EPS (Diluted) |
-0.51
N/A
|
-0.6
-18%
|
-0.73
-22%
|
-0.6
+18%
|
-0.56
+7%
|
-0.53
+5%
|
-0.4
+25%
|
-0.48
-20%
|
-0.58
-21%
|
-0.62
-7%
|
-0.75
-21%
|
-1.01
-35%
|
-1.09
-8%
|
-1.18
-8%
|
-1.14
+3%
|
-0.92
+19%
|
-0.71
+23%
|