Udemy Results Presentation Deck

GAAP to Non-GAAP Reconciliation Fiscal Year Ended December 31, 2020 GAAP Stock-based Compensation (in thousands, except per share amounts) 429,899 209,253 220,646 Revenue Cost of revenue Gross profit Operating expenses Sales and marketing Research and development General and administrative Total operating expenses Loss from operations Other income (expense) Interest expense, net Other income, 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 38 Weighted-average shares used in computing net loss per share attributable to common stockholders $ $ 192,600 50,643 50,783 294,026 (73,380) (1,146) 55 (1,091) (74,471) (3,149) (77,620) (2.33) 33,384,438 - (418) 418 (7,518) (5,232) (18,450) (31,200) 31,618 31,618 31,618 $ $ Non-GAAP 429,899 208,835 221,064 185,082 45,411 32,333 262,826 (41,762) (1,146) 55 (1,091) (42,853) (3,149) (46,002) (1.38) 33,384,438 ûdemy

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