Udemy Results Presentation Deck

GAAP to Non-GAAP Reconciliation Gross Profit ($ in thousands) Revenue: Consumer Enterprise Total Revenue Gross Profit Consumer Enterprise Total Segment Gross Profit Less: Amortization of Capitalized Software Less: Depreciation Non-GAAP Total Gross Profit Less: Stock-Based Compensation Less: Amortization of Intangible Assets GAAP Total Gross Profit Gross Margin: Consumer Enterprise Total Segment Non-GAAP GAAP 40 Three Months Ended December 31, 2020 2021 78,120 $ 31,974 110,094 35,957 20,696 56,653 (1,917) (133) 54,603 (165) 54,438 46.0% 64.7% 51.5% 49.6% 49.4% 80,168 $ 57,783 137,951 39,432 38,641 78,073 (2,604) (175) 75,294 (736) (729) 73,829 49.2% 66.9% 56.6% 54.6% 53.5% Fiscal Year Ended December 31, 2020 2021 326,454 $ 103,445 429,899 160,650 67,926 228,576 (6,894) (618) 221,064 (418) 220,646 49.2% 65.7% 53.2% 51.4% 51.3% 331,203 186,954 518,157 171,862 122,970 294,832 (9,292) (762) 284,778 (1,623) (1,022) 282,133 51.9% 65.8% 56.9% 55.0% 54.4% ûdemy

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