Coursera, Inc.
Key statistics
from XBRL data in SEC filingsAI briefing
from the latest 10-K, 10-Q and 8-K eventsCoursera, Inc. is a global online learning platform that, after acquiring Udemy in 2026, now operates as a combined company serving consumers and enterprises.
What they do
Coursera operates an online learning platform offering courses, credentials, and degree programs from universities and industry partners. It generates revenue through two segments: Consumer (individual learners) and Enterprise (businesses, governments, and institutions). Following the Udemy merger, it also integrates Udemy's content and customer base.
Revenue drivers
- Consumer revenue — Q2 2026 revenue of $158.6M, up 29% YoY; driven by paid subscribers (1.655M, up 44% YoY).
- Enterprise revenue — Q2 2026 revenue of $140.0M, up 118% YoY, reflecting the Udemy acquisition; enterprise customers totaled 12,107.
- Udemy acquisition — Closed during Q2 2026, materially increasing revenue (total Q2 revenue $298.6M, +60% YoY) and expected to drive synergies.
Recent performance
Q2 2026 revenue was $298.6M, up 60% YoY, with gross profit of $173.4M (58.1% margin). GAAP net loss widened to $80.4M (loss per share $0.34), partly due to merger-related costs; operating cash flow was negative $19.8M. On a non-GAAP basis, net income was $40.4M and adjusted EBITDA was $42.7M (14.3% margin).
Strategy
Management is executing a unified platform after closing the Udemy transaction, targeting at least $85M of annual run-rate net synergies by end of 2026. It announced a $100M strategic investment in LearnVector, an AI-native learning company founded by Andrew Ng, to accelerate AI product innovation. The company is also returning capital, repurchasing $90M of shares in Q2 2026 and over $140M to date under a $500M authorization.
Risks
- Integration risk — The Udemy merger is recent; execution on synergies and platform unification may fall short of expectations.
- Customer retention — Enterprise net retention rate declined to 91% in Q2 2026 from 95% a year ago, and enterprise customer count fell 2% YoY.
- Persistent GAAP losses — The company continues to report GAAP net losses (e.g., $80.4M in Q2 2026) and could see further dilution or cash burn.
- AI investment risk — The $100M investment in LearnVector involves early-stage, AI-native ventures that may not generate expected returns.
Outlook
Coursera raised its full-year 2026 revenue outlook to $1.220-$1.245 billion. Management expects to achieve at least $85M of annual run-rate net synergies by end of 2026, positioning for a stronger financial profile. Forward-looking statements also emphasize AI-driven product innovation and integration benefits.