Udemy (UDMY) Cost of Revenue (2020 - 2026)

Udemy has reported Cost of Revenue over the past 7 years, most recently at $89.6 million for Q1 2026.

• Cost of Revenue reached $89.6 million in Q1 2026 per UDMY's latest filing, up from $82.6 million in the prior quarter.
• Across five years, Cost of Revenue topped out at $100.0 million in Q4 2022 and bottomed at $66.8 million in Q3 2025.
• Median Cost of Revenue over the past 5 years was $77.4 million (2023), compared with a mean of $78.3 million.
• The largest annual shift saw Cost of Revenue soared 33.64% in 2022 before it decreased 22.31% in 2025.
• Over 5 years, Cost of Revenue stood at $100.0 million in 2022, then fell by 13.18% to $86.8 million in 2023, then dropped by 16.24% to $72.7 million in 2024, then increased by 13.59% to $82.6 million in 2025, then rose by 8.46% to $89.6 million in 2026.
• Business Quant data shows Cost of Revenue for UDMY at $89.6 million in Q1 2026, $82.6 million in Q4 2025, and $66.8 million in Q3 2025.

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