Udemy, Inc. (UDMY)

A proposed all-stock merger with Coursera, Inc. is a significant event impacting Udemy's stock. The merger agreement was entered into on December 17, 2025, and approved by Udemy shareholders on April 9, 2026, implying a combined entity valued at approximately $2.5 billion. Leading up to and following the merger announcement, Udemy's stock price has experienced notable movements, declining amid broader pressure and touching a new 52-week low in April 2026. Analysts have trimmed price targets, citing elevated execution and integration risk, and there have been analyst downgrades. In the fourth quarter of 2025, Udemy slightly beat quarterly EPS estimates, but revenue fell 3% year-over-year. Additionally, the company's CFO sold shares, and executive pay was tightly tied to AI-driven and subscription milestones.

While specific quarterly or monthly fluctuations in demand are not explicitly detailed as "seasonality", the platform experienced a significant surge in course enrollments during the initial phases of the COVID-19 pandemic. Technology and Business courses consistently account for a substantial portion of all Udemy enrollments. Development courses are particularly popular, suggesting a steady, high demand for skills relevant to professional development and career advancement. Lifestyle and personal interest courses also see increased access. The company's focus on AI-powered skills acceleration and partnerships with major tech companies likely drives consistent demand in these high-growth areas.

Udemy, Inc. is a U.S.-based education technology company that operates an AI-powered skills acceleration platform. It operates in the Technology sector, specifically in Education & Training Services. Udemy connects over 85,000 independent instructors with approximately 84 million learners worldwide, offering more than 250,000 courses in 75 languages through its marketplace platform. The company operates through Consumer and Enterprise segments, offering on-demand, video-based online courses and services such as the Udemy AI Assistant and Model Context Protocol (MCP) server.

Udemy, Inc. is headquartered in San Francisco, California, with additional offices and hubs globally, including in the United States (Austin, Texas, and Denver, Colorado), Australia, India, Ireland, Mexico, and Turkey. The platform is accessible in most countries worldwide, offering courses in over 75 languages, and it serves enterprise clients globally across North America, Europe, the Middle East, Africa, Asia Pacific, and Latin America. Udemy has also expanded its global footprint into China through a partnership with Sanjieke.

Udemy's brand reputation has been shaped by its mission to make education globally accessible and its focus on skill development. The company has actively promoted itself as an AI-powered skills acceleration platform. The introduction of the Udemy AI Assistant, the launch of its Model Context Protocol (MCP) server, partnerships with Google to launch the "Learn AI with Google" plan, the launch of an end-to-end AWS certification journey, the expansion of its Microsoft certification ecosystem, and an integration with OpenAI have positively impacted its reputation. The proposed merger with Coursera has generated discussion, with analysts noting both potential long-term value and elevated execution and integration risks.

Institutional investors are the dominant holders of Udemy shares, owning approximately 82% of outstanding shares. Major institutional owners include Insight Holdings Group, LLC, Caledonia (Private) Investments Pty Ltd, Vanguard Group Inc, and BlackRock, Inc. Individual ownership is also substantial, with insiders holding approximately 5.25% of the company's stock. Jeffrey Lieberman is reported as the largest individual shareholder, and co-founder Eren Bali also maintains a personal ownership stake.