Udemy Investor Presentation Q4 2022
GAAP to Non-GAAP Reconciliation
GAAP
Three Months Ended December 31, 2022
Stock-based Amortization of
Compensation Intangible Assets
(in thousands, except share and per share amounts)
Non-GAAP
Revenue
Cost of revenue
Gross profit
Operating expenses
Sales and marketing
Research and development
$
165,330
$
165,330
73,990
(1,920)
(725)
71,345
91,340
1,920
725
93,985
88,558
(10,538)
(341)
77,679
29,961
(7,547)
22,414
General and administrative
26,917
(8,245)
18,672
Total operating expenses
145,436
(26,330)
(341)
118,765
Loss from operations
(54,096)
28,250
1,066
(24,780)
Other income (expense)
Interest income, net
3,335
3,335
Other expense, net
(257)
(257)
Total other income, net
3,078
3,078
Net loss before taxes
(51,018)
28,250
1,066
(21,702)
Income tax provision
(1,135)
(1,135)
Net loss attributable to common stockholders
(52,153)
28,250
1,066
(22,837)
Net loss per share attributable to common
stockholders
Basic and diluted
$
Weighted-average shares used in
computing net loss per share attributable
(0.36)
143,120,852
$
(0.16)
143,120,852
to common stockholders
35
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