Udemy, Inc. (UDMY)

Udemy's stock price has seen notable events over the past six months, with a closing price of $4.69 on February 6, 2026. The 52-week high was $10.61, and the low was $4.52, with a decline of nearly 38% over six months. A merger agreement with Coursera was announced on December 17, 2025, expected to close in the second half of 2026, pending approvals. Following this, KeyBanc Capital Markets downgraded Udemy's stock. Fourth Quarter and Full Year 2025 results were reported on February 5, 2026, exceeding expectations, but no earnings call was held due to the pending merger. Canaccord Genuity lowered its price target to $5.00.

The demand for online courses is growing as individuals seek continuous learning. Udemy offers sales and special events throughout the year, such as Black Friday and Cyber Monday, influencing demand spikes. A growing proportion of new learner traffic comes from international markets, and the focus on enterprise learning provides a more stable revenue stream, mitigating some consumer-side seasonality.

Udemy, Inc. operates an online learning marketplace, offering over 250,000 courses to 80 million students in areas like programming, marketing, and data science. It provides a consumer-facing marketplace (B2C) and an enterprise platform (B2B) called Udemy Business. Key offerings include a course library, certification preparation, AI-powered coaching, and advanced analytics. Recent developments include AI content, custom role-play simulations, and plans for an AI-powered microlearning experience in 2026.

Udemy has a global presence, serving 81 million learners and 85,000 instructors with 250,000 courses in 75 languages as of June 30, 2025. Headquartered in San Francisco, it has hubs in multiple locations across the USA, Türkiye, Ireland, Australia, and India. A growing proportion of new learner traffic comes from international markets.

Udemy's brand reputation is built on democratizing education and making quality learning accessible, emphasizing ESG goals aligned with UN Sustainable Development Goals. It has received awards like Builtin 2025 Best Places to Work and the Ecovadis committed to sustainability award. However, a new revenue share model in November 2023 led to decreased instructor payouts, and a strategic pivot towards subscription monetization has caused a decline in transactional revenue.

Udemy is institutionally-controlled, with institutional investors holding approximately 84.12% of the stock as of late 2025. Major shareholders include Insight Holdings Group, LLC, Caledonia (Private) Investments Pty Ltd, Vanguard Group Inc, and BlackRock, Inc. Co-founder Eren Bali holds 15.0% as of February 2025, and Jeffrey Lieberman is the largest individual shareholder with 25.36% of the company's shares.