Udemy, Inc. (UDMY)

Udemy's stock experienced a notable decline of 24.7% in value over the six months leading up to December 23, 2025. In December 2025, Coursera agreed to acquire Udemy for approximately $930 million in equity, leading to a 22% jump in Udemy's shares, but KeyBanc downgraded Udemy in January 2026, causing a fall in shares. In Q3 2025, Udemy shifted its financial strategy to prioritize subscriptions, resulting in an 11% decrease in consumer revenue. In August 2025, Udemy launched its Model Context Protocol (MCP) server and reported strong Q2 2025 financial results. In September 2025, Udemy released its 2026 Global Learning & Skills Trends Report. Hugo Sarrazin took over as CEO in March 2025.

Online learning platforms often experience fluctuations, and a significant portion of Udemy's revenue is historically generated towards the end of the year, driven by sales events. Following a surge in retail sales during the pandemic, revenue from the Consumer segment began a gradual decline starting in Q4 2020. The company is undergoing a strategic shift to a subscription-based model, aiming for more predictable and recurring revenue. There is a continuous demand for self-learning to stay employable, with a surging demand for tech skills, particularly in AI.

Udemy, Inc. operates a global online learning marketplace connecting instructors with learners. It functions through two segments: Consumer and Enterprise, offering a diverse catalog of video-based courses and AI-powered tools. Udemy's sector is Education & Training Services, falling under the broader industry of Education Technology or E-learning.

Udemy has a significant global presence, operating across North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. The platform supports learning in over 75 languages and maintains offices in several key locations, including San Francisco, Dublin, Ankara, Istanbul, Melbourne, Mumbai, Gurgaon, Chennai, and Mexico City.

Udemy's brand reputation has strengths and challenges. The platform is praised for its vast course variety and affordability, and Udemy Business boasts a positive Net Promoter Score (NPS). However, the company faces criticism regarding course quality due to its open-door instructor policy, leading to inconsistent quality, and its certifications are generally not recognized by employers. Instructor sentiment has been impacted by changes in revenue sharing. Udemy laid off 30% of its employees in September 2024, with plans to hire in lower-cost regions. Udemy has actively integrated AI into its offerings and formed strategic partnerships.

Udemy's ownership is predominantly institutional, with institutional investors holding 82.43% of the company's shares. Major institutional shareholders include Insight Holdings Group, LLC, Naspers Ltd, Caledonia (Private) Investments Pty Ltd, Vanguard Group Inc, and BlackRock, Inc. Jeffrey Lieberman is the largest individual shareholder, and individual insiders collectively hold 3.98% of the shares.