Udemy Investor Presentation Q4 2022
GAAP to Non-GAAP Reconciliation
GAAP
Year Ended December 31, 2022
Stock-based
Amortization of
Non-GAAP
Compensation Intangible Assets
(in thousands, except per share amounts)
Revenue
$
629,097
$
629,097
Cost of revenue
275,320
Operating expenses
Gross profit
Sales and marketing
353,777
(5,360)
5,360
(2,900)
267,060
2,900
362,037
301,347
(29,054)
(1,366)
270,927
Research and development
104,556
(20,850)
83,706
General and administrative
99,064
(26,029)
73,035
Total operating expenses
504,967
(75,933)
(1,366)
427,668
Loss from operations
(151,190)
81,293
4,266
(65,631)
Other income (expense)
Interest income, net
4,297
4,297
Other expense, net
(4,696)
(4,696)
Total other expense, net
(399)
(399)
Net loss before taxes
(151,589)
81,293
4,266
(66,030)
Income tax provision
(2,286)
(2,286)
Net loss attributable to common stockholders
(153,875)
81,293
4,266
(68,316)
Net loss per share attributable to common
stockholders
Basic and diluted
$
(1.09)
Weighted-average shares used in
computing net loss per share attributable
140,873,504
$
(0.48)
140,873,504
to common stockholders
36
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