Udemy Investor Presentation Q4 2022
GAAP to Non-GAAP Reconciliation
GAAP
Year Ended December 31, 2021
Stock-based
Amortization of
Non-GAAP
Compensation Intangible Assets
(in thousands, except per share amounts)
Revenue
Cost of revenue
Gross profit
$
515,657
$
515,657
236,024
279,633
(1,623)
1,623
(1,022)
233,379
1,022
282,278
Operating expenses
Sales and marketing
227,023
(8,637)
(481)
217,905
Research and development
66,107
(6,816)
59,291
General and administrative
64,410
(17,604)
46,806
Total operating expenses
357,540
(33,057)
(481)
324,002
Loss from operations
(77,907)
34,680
1,503
(41,724)
Other income (expense)
Interest expense, net
(16)
(16)
Other expense, net
Net loss before taxes
(920)
(920)
Total other income, net
(936)
(936)
(78,843)
34,680
1,503
(42,660)
Income tax provision
(1,183)
(1,183)
Net loss attributable to common stockholders
Net loss per share attributable to common
(80,026)
34,680
1,503
(43,843)
38
stockholders
Basic and diluted
Weighted-average shares used in
computing net loss per share attributable
to common stockholders
$
(1.46)
54,972,827
$
(0.80)
54,972,827
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