Udemy (UDMY) Net Margin (2020 - 2026)

Udemy has disclosed Net Margin across 7 years of filings, most recently posting 6.59% for Q1 2026.

• Net Margin for Q1 2026 came in at 6.59%, down 571.0% year-over-year; the trailing twelve-month figure through Mar 2026 was 0.9% (up 780.0% YoY), and the FY2025 annual result was 0.48%, up 1133.0% from the prior year.
• Net Margin came in at 6.59% for Q1 2026 at Udemy, down from 1.2% in the prior quarter.
• In the past five years, Net Margin ranged from a high of 3.13% in Q2 2025 to a low of 31.54% in Q4 2022.
• The 5-year median for Net Margin is 10.68% (2023), against an average of 12.04%.
• Across the five-year window, Net Margin sank 2232 bps in 2022 and surged 2086 bps in 2023, its largest moves.
• Udemy's Net Margin stood at 31.54% in 2022, then soared by 66 bps to 10.68% in 2023, then jumped by 54 bps to 4.93% in 2024, then soared by 76 bps to 1.2% in 2025, then sank by 449 bps to 6.59% in 2026.
• The last three Net Margin figures came in at 6.59% (Q1 2026), 1.2% (Q4 2025), and 0.84% (Q3 2025), per Business Quant data.