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SEGMENT AND GEOGRAPHIC INFORMATION
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
SEGMENT AND GEOGRAPHIC INFORMATION SEGMENT AND GEOGRAPHIC INFORMATION
Segment Information
Our chief operating decision maker (“CODM”) is our Chief Executive Officer. Based on how our CODM assesses performance and allocates resources, we have identified two reporting segments: Enterprise and Consumer. This is also consistent with how we disaggregate revenue. Following the Merger with Udemy, we continue to report two reporting segments, Enterprise and Consumer, as the CODM reviews the combined segment results on an integrated basis.
Our CODM primarily measures each segment’s performance based on revenue and gross profit. Segment gross profit, as presented below, is defined as segment revenue less segment content costs within cost of revenue. These costs are considered significant segment expenses that are regularly reviewed by our CODM. Other costs of revenue, including platform operation and maintenance costs, customer support services, amortization of internal-use software and intangible assets, and stock-based compensation expense, are managed on an enterprise-wide basis and not reported by segment. In addition, we do not report operating expenses, other income (expense), net, or income tax expense (benefit) by segment because our CODM reviews this financial information on a consolidated basis.
Our CODM does not use segment-level asset information to assess performance or allocate resources. Therefore, we do not track our long-lived assets by segment. The geographic identification of these assets is provided below.
Financial information for each reportable segment was as follows:
Three Months Ended June 30,
20262025
EnterpriseConsumerConsolidatedEnterpriseConsumerConsolidated
Revenue$140.0 $158.6 $298.6 $64.3 $122.8 $187.1 
Segment content costs29.0 55.4 84.4 19.5 47.5 67.0 
Segment gross profit$111.0 $103.2 $214.2 $44.8 $75.3 $120.1 
Segment gross profit margin79.3 %65.1 %71.7 %69.7 %61.3 %64.2 %
Other costs of revenue:
Platform operation, customer support, and maintenance costs
22.6 9.6 
Amortization of internal-use software5.7 4.7 
Amortization of intangible assets11.5 2.5 
Stock-based compensation expense1.0 0.6 
Cost of revenue$125.2 $84.4 
Gross profit$173.4 $102.7 
Gross profit margin58.1 %54.9 %
Six Months Ended June 30,
20262025
EnterpriseConsumerConsolidatedEnterpriseConsumerConsolidated
Revenue$206.2 $288.1 $494.3 $126.0 $240.4 $366.4 
Segment content costs48.3 103.1 151.4 38.0 92.7 130.7 
Segment gross profit$157.9 $185.0 $342.9 $88.0 $147.7 $235.7 
Segment gross profit margin76.6 %64.2 %69.4 %69.8 %61.4 %64.3 %
Other costs of revenue:
Platform operation, customer support, and maintenance costs
34.9 19.8 
Amortization of internal-use software11.0 9.4 
Amortization of intangible assets13.4 4.6 
Stock-based compensation expense1.6 1.3 
Cost of revenue$212.3 $165.8 
Gross profit$282.0 $200.6 
Gross profit margin57.1 %54.7 %
Geographic Information
Revenue
The following table summarizes the revenue by region based on the billing address of our customers:
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
United States$132.9 $96.3 $228.8 $189.3 
Europe, Middle East, and Africa75.3 45.1 123.2 88.5 
Asia Pacific59.4 26.5 91.0 51.3 
Latin America21.1 12.6 34.6 24.2 
Other9.9 6.6 16.7 13.1 
Total$298.6 $187.1 $494.3 $366.4 
No single country other than the United States represented 10% or more of our total revenue during the three and six months ended June 30, 2026 and 2025.
Long-lived Assets
The following table presents our long-lived assets, consisting of property, equipment, and software, net of depreciation and amortization, and operating lease right-of-use assets, by geographic region:
June 30, 2026December 31, 2025
United States$60.0 $45.2 
Rest of World6.9 2.7 
Total$66.9 $47.9