Udemy Investor Presentation Q4 2022
GAAP to Non-GAAP Reconciliation
GAAP
Three Months Ended December 31, 2021
Stock-based Amortization of
Compensation Intangible Assets
(in thousands, except share and per share amounts)
Non-GAAP
Revenue
$
135,451
$
135,451
Cost of revenue
64,122
Operating expenses
Gross profit
Sales and marketing
71,329
(736)
736
(729)
62,657
729
72,794
70,624
(2,852)
(384)
67,388
Research and development
19,208
(2,370)
16,838
General and administrative
22,442
(5,018)
17,424
Total operating expenses
112,274
(10,240)
(384)
101,650
Loss from operations
(40,945)
10,976
1,113
(28,856)
Other income (expense)
Interest income, net
Other expense, net
Total other income, net
Net loss before taxes
Income tax provision
Net loss attributable to common stockholders
436
436
(206)
(206)
230
230
(40,715)
10,976
1,113
(28,626)
(669)
(669)
(41,384)
10,976
1,113
(29,295)
Net loss per share attributable to common
stockholders
Basic and diluted
$
(0.38)
$
(0.27)
Weighted-average shares used in
computing net loss per share attributable
108,168,420
108,168,420
to common stockholders
37
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