UDMY · As filed with the SEC

Udemy balance sheet, by fiscal year

The statement as Udemy presents it in its 10-Q and 10-K: its own lines, labels and order. Tables over time lines up standardized figures across every filing.

Consolidated Balance Sheets · USD thousands

USD thousands	FY2025 Dec 31, 2025	FY2024 Dec 31, 2024	FY2023 Dec 31, 2023	FY2022 Dec 31, 2022
Assets
Current assets:
Cash and cash equivalents	231,485	190,592	305,564	313,685
Restricted cash, current	201	100	3,329	—
Marketable securities	127,259	163,844	171,372	151,687
Accounts receivable, net	95,891	88,216	92,555	104,530
Prepaid expenses and other current assets	25,469	22,735	20,924	14,878
Deferred contract costs, current	43,908	40,841	38,584	30,234
Total current assets	524,213	506,328	632,328	615,014
Property and equipment, net	6,694	4,534	4,439	7,012
Capitalized software, net	28,964	31,548	31,388	27,412
Operating lease right-of-use assets	9,040	10,950	5,691	11,377
Restricted cash, non-current	183	1,115	659	3,629
Deferred contract costs, non-current	28,010	32,212	35,790	35,411
Strategic investments	—	0	10,311	12,104
Intangible assets, net	2,448	2,428	5,223	9,331
Goodwill	12,646	12,646	12,646	12,646
Other assets	5,500	3,867	2,721	3,632
Total assets	617,698	605,628	741,196	737,568
Liabilities and stockholders' equity
Current liabilities:
Accounts payable	8,198	6,311	2,506	14,529
Accrued expenses and other current liabilities	32,126	31,156	27,778	31,247
Content costs payable	33,175	37,607	40,277	37,310
Accrued compensation and benefits	27,958	28,793	24,332	22,882
Operating lease liabilities, current	4,541	2,502	5,825	7,002
Deferred revenue, current	294,071	291,106	279,414	273,937
Total current liabilities	400,069	397,475	380,132	386,907
Operating lease liabilities, non-current	5,686	8,315	1,124	6,545
Deferred revenue, non-current	1,248	2,438	3,000	4,342
Other liabilities, non-current	234	6	48	464
Total liabilities	407,237	408,234	384,304	398,258
Stockholders' equity:
Preferred stock, $0.00001 par value - 50,000,000 shares authorized; zero shares issued and outstanding as of December 31, 2023, and December 31, 2022.	—	—	0	0
Common stock, $0.00001 par value - 950,000,000 shares authorized; 145,050,642 and 147,484,280 shares issued and outstanding as of December 31, 2025, and December 31, 2024, respectively.	1	1	2	1
Additional paid-in capital	1,011,477	1,002,390	1,076,508	951,946
Accumulated other comprehensive income (loss)	162	(11)	80	(233)
Accumulated deficit	(801,179)	(804,986)	(719,698)	(612,404)
Total stockholders’ equity	210,461	197,394	356,892	339,310
Total liabilities and stockholders' equity	617,698	605,628	741,196	737,568

As filed on EDGAR · Not affiliated with the U.S. SEC · Not investment advice. Each column links to its filing.