UDMY · As filed with the SEC

Udemy cash flow statement, by quarter

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.

Condensed Consolidated Statements of Cash Flows · USD thousands

USD thousands	Q1 2026 3 months ended Mar 31, 2026	Q4 2025^† 3 months ended Dec 31, 2025	Q3 2025^† 3 months ended Sep 30, 2025	Q2 2025^† 3 months ended Jun 30, 2025	Q1 2025 3 months ended Mar 31, 2025	Q4 2024^† 3 months ended Dec 31, 2024	Q3 2024^† 3 months ended Sep 30, 2024	Q2 2024^† 3 months ended Jun 30, 2024
Cash flows from operating activities:
Net loss	(12,614)	(2,329)^†	1,642^†	6,265^†	(1,771)	(9,864)^†	(25,271)^†	(31,814)^†
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	6,364	6,074^†	6,139^†	6,941^†	6,205	5,906^†	6,340^†	6,692^†
Amortization of deferred contract costs	17,375	17,148^†	16,780^†	15,992^†	15,620	15,791^†	15,221^†	14,601^†
Stock-based compensation	16,368	15,073^†	18,294^†	17,420^†	17,967	19,758^†	23,242^†	24,317^†
Allowance for credit losses	475	528^†	444^†	290^†	2,101	523^†	283^†	0^†
Net (accretion) amortization of marketable securities	83	(510)^†	(543)^†	(847)^†	(1,287)	(1,650)^†	(2,201)^†	(2,150)^†
Non-cash operating lease expense	1,138	1,077^†	854^†	931^†	915	883^†	909^†	1,245^†
Unrealized gain on strategic investments	(500)	0^†	0^†	0^†	—	0^†	0^†	—
Other	552	513^†	423^†	273^†	350	1,232^†	817^†	287^†
Changes in operating assets and liabilities:
Accounts receivable	(1,702)	(19,866)^†	7,437^†	26,441^†	(25,057)	(7,575)^†	632^†	17,686^†
Prepaid expenses and other assets	(5,094)	2,763^†	(6,392)^†	3,693^†	(4,106)	920^†	(4,963)^†	4,501^†
Deferred contract costs	(20,592)	(14,863)^†	(14,550)^†	(15,497)^†	(19,495)	(11,707)^†	(13,892)^†	(14,653)^†
Accounts payable, accrued expenses and other liabilities	14,197	12,590^†	909^†	(221)^†	(9,975)	4,088^†	3,025^†	4,082^†
Content costs payable	(4,961)	900^†	(893)^†	(1,318)^†	(3,121)	1,307^†	649^†	279^†
Operating lease liabilities	(1,305)	(1,741)^†	880^†	(662)^†	(949)	(1,254)^†	(984)^†	(1,116)^†
Deferred revenue	5,656	(1,842)^†	(15,693)^†	(15,498)^†	34,813	(8,776)^†	(9,907)^†	(5,676)^†
Net cash provided by operating activities	15,440	15,515^†	15,731^†	44,203^†	12,210	9,582^†	(6,100)^†	28,592^†
Cash flows from investing activities:
Purchases of marketable securities	(21,863)	(44,800)^†	(25,298)^†	(33,861)^†	(78,644)	(97,115)^†	(93,405)^†	(56,916)^†
Proceeds from maturities of marketable securities	43,550	53,365^†	52,350^†	40,350^†	76,350	87,400^†	91,800^†	84,400^†
Purchases of property and equipment	(548)	(522)^†	(620)^†	(2,280)^†	(2,381)	(1,184)^†	(562)^†	(357)^†
Capitalized software costs	(4,058)	(3,204)^†	(3,025)^†	(2,912)^†	(2,739)	(2,228)^†	(3,536)^†	(3,450)^†
Payments related to asset acquisitions	—	0^†	0^†	—	—	0^†	0^†	—
Purchases of strategic investments	(8,000)	—	—	—	—	—	—	—
Net cash provided by (used in) investing activities	9,081	4,839^†	23,407^†	(203)^†	(7,414)	(13,127)^†	(5,703)^†	23,677^†
Cash flows from financing activities:
Net proceeds from exercise of stock options	0	8^†	13^†	8^†	41	1,424^†	482^†	126^†
Proceeds from share purchases under employee stock purchase plan	—	1,615^†	0^†	—	—	2,521^†	0^†	—
Taxes paid related to net share settlement of equity awards	(2,802)	(5,468)^†	(4,921)^†	(3,969)^†	(5,948)	(5,461)^†	(5,548)^†	(8,181)^†
Repurchases of common stock and excise taxes paid	(117)	(21,753)^†	(28,337)^†	(875)^†	0	(8,733)^†	(51,014)^†	(35,433)^†
Payments of debt issuance costs	—	0^†	(219)^†	—	—	0^†	0^†	—
Net cash used in financing activities	(2,919)	(25,598)^†	(33,464)^†	(3,495)^†	(5,907)	(10,249)^†	(56,080)^†	(38,955)^†
Effect of foreign exchange rates on cash flows	97	69^†	(3)^†	136^†	36	(177)^†	82^†	29^†
Net increase (decrease) in cash, cash equivalents and restricted cash	21,699	(5,175)^†	5,671^†	40,641^†	(1,075)	(13,971)^†	(67,801)^†	13,343^†
Cash, cash equivalents and restricted cash—Beginning of period	231,869	237,044	231,373	190,732	191,807	205,778	273,579	260,236
Cash, cash equivalents and restricted cash—End of period	253,568	231,869	237,044	231,373	190,732	191,807	205,778	273,579
Supplemental disclosures of cash flow information:
Interest paid	—	255^†	44^†	0^†	0	0^†	0^†	0^†
Income taxes paid	1,936	3,548^†	385^†	299^†	813	116^†	563^†	531^†
Supplemental disclosure of non-cash investing and financing activities:
Stock-based compensation in capitalized costs	905	1,579^†	1,665^†	1,647^†	1,657	1,551^†	2,326^†	2,321^†
Net change in unrealized gain (loss) on marketable securities	(233)	22^†	82^†	(37)^†	(27)	(68)^†	181^†	10^†
Increase (decrease) in purchases of property and equipment included in liabilities	(76)	(38)^†	(108)^†	(938)^†	584	577^†	(294)^†	177^†
Operating lease right-of-use assets exchanged for operating lease liabilities	795	0^†	1,867^†	0^†	—	0^†	0^†	—
Accrued excise tax on share repurchases	—	117^†	—	—	—	(68)^†	—	—

† Derived: worked out from the filings, not stated in them. A fourth quarter is the 10-K year less the nine months in the third-quarter 10-Q; a quarter of cash flows is year to date less the prior year to date.

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