"With generative AI transforming the global workforce, Udemy is well positioned to take the lead in driving the upskilling revolution," said Hugo Sarrazin, Udemy’s President and CEO. "The accelerating pace of technological change is creating massive global demand for continuous learning and skill development across every industry. This $50 million repurchase program reflects our Board’s strong conviction in Udemy’s ability to capture this significant growth opportunity while delivering returns to our shareholders."

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.