Udemy stockholders approve officer liability limitation amendment

Udemy , Inc. (NASDAQ:UDMY), the online learning platform with a market capitalization of $1.03 billion and impressive gross profit margins of 63%, announced Wednesday that its stockholders approved an amendment to the company’s certificate of incorporation that limits the liability of certain officers as permitted by Delaware law. According to InvestingPro data, the company maintains a strong financial position with more cash than debt on its balance sheet.

The amendment was approved at Udemy’s 2025 annual meeting held on Monday, with approximately 100.5 million shares voting in favor, representing about 98% of votes cast on the proposal. The certificate of amendment was filed with the Delaware Secretary of State on June 16 and became effective immediately. Eight analysts have recently revised their earnings estimates upward for the upcoming period, suggesting growing confidence in the company’s prospects.

During the meeting, stockholders also elected Sohaib Abbasi and Heather Hiles as Class I directors to serve until the 2028 annual meeting. Abbasi received approximately 100.5 million votes in favor, while Hiles received about 90.7 million votes.

Additionally, stockholders ratified the appointment of Deloitte & Touche LLP as Udemy’s independent registered public accounting firm for the fiscal year ending December 31, 2025, with over 126.1 million votes in support.

In a non-binding advisory vote, stockholders also approved the compensation of Udemy’s named executive officers, with nearly 101 million shares voting in favor.

The annual meeting saw strong participation with approximately 127.3 million shares represented, accounting for about 85.6% of the company’s total voting power as of the record date.

According to the SEC filing, the amendment to the certificate of incorporation specifically addresses the liability limitations for certain company officers as allowed under Delaware corporate law. InvestingPro analysis suggests Udemy is currently trading below its Fair Value, with the company expected to achieve profitability this year. Discover more insights about Udemy and 1,400+ other stocks through comprehensive Pro Research Reports, available exclusively with an InvestingPro subscription.

In other recent news, Udemy has announced its acquisition of Lummi, a company specializing in AI-driven design tools, to enhance its learning platform by integrating custom illustration capabilities. This strategic move aims to bolster Udemy’s offerings for instructors, allowing them to create more interactive courses with tools like Lummi Pro, which will be available as an add-on for enterprise customers. Additionally, Udemy has launched new AI upskilling packages, including the AI Readiness Package and the AI Growth Package, to help organizations develop artificial intelligence capabilities. These packages include access to the Udemy AI Assistant for real-time coaching, supporting over 11 million enrollments in AI courses.

In leadership changes, Ozzie Goldschmied has been appointed as the new Chief Technology Officer, while founder Eren Bali transitions to Head of Innovation, focusing on AI advancements and product strategy. Morgan Stanley (NYSE:MS) analysts have upgraded Udemy’s stock rating from Underweight to Equalweight, raising the price target to $9.00, citing underestimated EBITDA growth potential despite lower top-line figures. Meanwhile, Truist Securities maintains a Hold rating with a $7.00 price target, highlighting Udemy’s new partnership with Indeed, which is expected to expand its reach through a network of job seekers. This partnership aligns with Udemy’s strategic priorities, emphasizing consumer subscriptions and expanding its partner ecosystem.

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