So, we often have discussions like "is Udemy going out of business" and other issues around the growth of Udemy. Tonight the quarterly report came out and if you have any interest in this as a business, you should definitely review the report. You can find it here: https://investors.udemy.com/news-events/events These are the headlines: Udemy Business Revenue Up 77% Year over Year, ARR up 74% to $316.1 million SAN FRANCISCO, Aug. 03, 2022 (GLOBE NEWSWIRE) -- Udemy (Nasdaq: UDMY), a leading destination for learning and teaching online, today reported results for the second quarter ending June 30, 2022. “Udemy is disrupting learning through our unparalleled platform and rapidly scaling SaaS business,” said Gregg Coccari, Chairman and CEO of Udemy. “Improving lives through learning is our mission, and we are proud to bring together our approximately 71,000 instructors, over 12,000 Udemy Business customers and growing roster of strategic partners to deliver it worldwide. Together, united in our commitment to upskilling and reskilling, we are activating positive outcomes for businesses and individuals, even in the face of economic uncertainty.” Second Quarter 2022 Financial Results and Key Operating Data: Revenue totaled $153.1 million, up 21% year over year. GAAP net loss was $(29.4) million compared to $(11.4) million in the second quarter of fiscal 2021. GAAP net loss per share was $(0.21), compared to $(0.31) in the second quarter of fiscal 2021. Non-GAAP net loss was $(13.6) million compared to $(5.4) million in the second quarter of fiscal 2021. Non-GAAP net loss per share was $(0.10) compared to $(0.15) in the second quarter of fiscal 2021. GAAP gross profit was $87.3 million, compared to $70.1 million in the second quarter of fiscal 2021. Non-GAAP gross profit was $89.0 million, compared to $70.3 million in the second quarter of fiscal 2021. Adjusted EBITDA was $(8.6) million, compared to $(1.6) million in the second quarter of fiscal 2021. Udemy Business revenue totaled $74.6 million, up 77% year over year. Udemy Business segment gross profit was $49.9 million compared to $27.7 million in the second quarter of fiscal 2021. Udemy Business segment annual recurring revenue was $316.1 million, up 74% year over year. Udemy Business total customers was 12,514 as of June 30, 2022, up 44% year over year. Udemy Business net dollar retention rate was 118%. Consumer revenue totaled $78.5 million, down 7% year over year. Consumer segment gross profit was $42.3 million compared to $45.1 million in the second quarter of fiscal 2021. Consumer segment monthly average buyers was 1,290 thousand, down 2% year over year.
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