Udemy (UDMY) Gross Margin (2020 - 2026)

Udemy has disclosed Gross Margin across 7 years of filings, most recently posting 67.54% for Q1 2026.

• Gross Margin for Q1 2026 came in at 67.54%, up 291.0% year-over-year; the trailing twelve-month figure through Mar 2026 was 66.36% (up 297.0% YoY), and the FY2025 annual result was 65.63%, up 309.0% from the prior year.
• Gross Margin came in at 67.54% for Q1 2026 at Udemy, up from 66.01% in the prior quarter.
• In the past five years, Gross Margin ranged from a high of 67.54% in Q1 2026 to a low of 55.25% in Q4 2022.
• The 5-year median for Gross Margin is 61.25% (2024), against an average of 60.9%.
• Across the five-year window, Gross Margin advanced 17 bps in 2023 and soared 567 bps in 2024, its largest moves.
• Udemy's Gross Margin stood at 55.25% in 2022, then grew by 5 bps to 57.95% in 2023, then grew by 10 bps to 63.62% in 2024, then climbed by 4 bps to 66.01% in 2025, then climbed by 2 bps to 67.54% in 2026.
• The last three Gross Margin figures came in at 67.54% (Q1 2026), 66.01% (Q4 2025), and 65.86% (Q3 2025), per Business Quant data.