Udemy reported FY 2025 revenue of USD 789.84 million (up 0.4%), driven by Enterprise revenue of USD 524.07 million (up 6%) while Consumer revenue fell to USD 265.77 million (down 9%). Net income was USD 3.81 million, compared with a net loss in FY 2024, and adjusted EBITDA was USD 95.26 million. Gross profit rose to USD 518.41 million and gross margin increased to 66% from 63%, with cost of revenue down to USD 271.44 million (down 8%). Free cash flow was USD 69.98 million, and net cash provided by operating activities was USD 87.66 million. For operating metrics, Udemy Business customers totaled 17,029 at December 31, 2025, and Udemy Business ARR was USD 539.97 million; Udemy Business net dollar retention rate was 93% (Large Customer NDRR: 97%). Paid Consumer subscribers were 343,000 at year-end. Udemy said subscription offerings represented 72% of FY 2025 revenue (up from 66% in FY 2024), and noted it lowered the instructor revenue share for subscription offerings to 17.5% effective January 1, 2025, with a further reduction to 15% effective January 1, 2026. On corporate developments, Udemy said it entered into a merger agreement with Coursera on December 17, 2025 in an all-stock transaction (0.800 shares of Coursera common stock per Udemy share), with closing expected in the second half of 2026 subject to customary conditions; it recorded USD 3.7 million of acquisition-related expenses in FY 2025. The company also reported the FTC granted early termination of the HSR waiting period on February 9, 2026.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Udemy Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001607939-26-000034), on February 19, 2026, and is solely responsible for the information contained therein.