Udemy Announces Share Repurchase Program
14 Fevereiro 2024 - 6:05PM
Udemy (Nasdaq: UDMY), a leading online skills marketplace and
learning platform, today announced its Board of Directors approved
a share repurchase program, authorizing the purchase of up to $100
million of the Company’s common stock, effective immediately.
“This share repurchase program underscores the confidence that
our Board and management team have in our business and the future
of Udemy, and reinforces our commitment to deliver returns for
Udemy shareholders,” said Greg Brown, Udemy’s President and CEO.
“Our strong balance sheet provides us with the flexibility to
repurchase shares, while continuing to drive shareholder value
through execution of our long-term strategy.”
The timing and amount of any shares of the Company’s common
stock that are repurchased under the repurchase program will be
determined by the Company’s management based on its evaluation of
market conditions and other factors. Shares may be acquired from
time to time in the open market, through privately negotiated
transactions or otherwise in compliance with Rule 10b-18 and Rule
10b5-1 under the Securities Exchange Act of 1934. The Board of
Directors also authorized the Company to establish Rule 10b5-1
trading plans that permit the Company to repurchase its outstanding
shares at times when it might otherwise be prevented from doing so.
The repurchase program may be suspended or discontinued at any
time.
About UdemyUdemy (Nasdaq: UDMY) improves lives
through learning by providing flexible, effective skill development
to empower organizations and individuals. The Udemy marketplace
platform, with thousands of up-to-date courses in dozens of
languages, offers the tools learners, instructors and enterprises
need to achieve their goals and reach their full potential.
Millions of people learn on the Udemy platform from real-world
experts in topics ranging from programming and data science to
leadership and team building. Udemy Business enables employers to
offer on-demand learning for all employees, immersive learning for
tech teams and cohort learning for leaders. Udemy Business
customers include Fender®, Glassdoor, On24, The World Bank and
Volkswagen. Udemy is headquartered in San Francisco with hubs in
Ankara and Istanbul, Türkiye; Austin, Texas; Denver, Colorado;
Dublin, Ireland; Melbourne, Australia; and New Delhi, India.
Forward-Looking StatementsThis press release
contains forward-looking statements within the meaning of Section
27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934 and the meaning of the Private Securities
Litigation Reform Act of 1995. These forward-looking statements
include, but are not limited to, statements regarding Udemy’s
expectations relating to future operating results and financial
position, including the second quarter of 2023, the full year 2023,
and future periods; anticipated future expenses and investments;
our business strategy and plans; market growth; and our market
position and potential market opportunities. The words “believe,”
“may,” “will,” “estimate,” “potential,” “continue,” “anticipate,”
“intend,” “expect,” “could,” “would,” “project,” “plan,” “target,”
and similar expressions are intended to identify forward-looking
statements.
Forward-looking statements are subject to known and unknown
risks and uncertainties and are based on potentially inaccurate
assumptions that could cause actual results to differ materially
from those expected or implied by the forward-looking statements.
Actual results may differ materially from the results predicted and
reported results should not be considered as an indication of
future performance.
The potential risks and uncertainties that could cause actual
results to differ from the results predicted include, among others,
those risks and uncertainties included under the caption "Risk
Factors" and elsewhere in our filings with the Securities and
Exchange Commission (“SEC”), including, without limitation, our
Quarterly Report on Form 10-Q for the period ended September 30,
2023, filed with the SEC on November 2, 2023. All information
provided in this release is as of the date hereof, and we undertake
no duty to update this information unless required by law.
Investor Contact:Dennis WalshVice President,
Investor Relationsdennis.walsh@udemy.com
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