Udemy Results Presentation Deck

GAAP to Non-GAAP Reconciliation Fiscal Year Ended December 31, 2021 Stock-based Amortization of Compensation Intangible Assets (in thousands, except per share amounts) Revenue Cost of revenue Gross profit Operating expenses Sales and marketing Research and development General and administrative Total operating expenses Loss from operations Other expense Interest expense, net Other expense, net Total other expense, net Net loss before taxes Income tax provision Net loss attributable to common stockholders Net loss per share attributable to common stockholders Basic and diluted 36 Weighted-average shares used in computing net loss per share attributable to common stockholders $ $ GAAP 518,157 236,024 282,133 227,023 66,107 64,410 357,540 (75,407) (16) (920) (936) (76,343) (1,183) (77,526) (1.41) 54,972,827 (1,623) 1,623 (8,637) (6,816) (17,604) (33,057) 34,680 34,680 34,680 (1,022) 1,022 (481) (481) 1,503 1,503 1,503 $ $ Non-GAAP 518,157 233,379 284,778 217,905 59,291 46,806 324,002 (39,224) (16) (920) (936) (40,160) (1,183) (41,343) (0.75) 54,972,827 ûdemy

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