Coursera, Inc.

Listed Company

COURCIK 0001651562NYSELarge AcceleratedServices-Prepackaged SoftwareDelawareFY ends Dec 31

Period

FY 2025

Revenue

$757.50M

Net Income

$-51.00M

Total Assets

—

Equity

—

Shares Out

169.30M

Op. Cash Flow

$108.70M

Business

Coursera, Inc. operates a global online learning platform that connects educators, learners, and institutions to provide access to modular educational content and credentials. It offers courses, guided projects, Specializations, Professional Certificates, university-issued certificates and fully online degrees, AI-powered authoring tools, hands-on labs, and a subscription service (Coursera Plus). Its business is organized across consumer offerings (Coursera.org), Coursera for Business, Coursera for Campus, Coursera for Government, and Degrees programs. Coursera distributes content worldwide through its website and mobile app, direct enterprise sales, channel partners, and institutional partnerships.

Summary from filing dated 2025-02-24

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenue	758	695	636	524	415
Cost of revenue	344	323	306	192	166
Gross profit	413	371	330	331	249
Research and development	122	132	160	165	135
Sales and marketing	256	235	223	228	179
General and administrative	114	109	98	106	78
Restructuring related charges	−900,000	9	−6	10	0
Total operating expenses	491	485	475	509	393
Loss from operations	−77	−113	−146	−177	−143
Interest income, net	32	37	34	9	320,000
Other income (expense), net	−500,000	−2	0	−2	−346,000
Loss before income taxes	−46	−79	−111	−171	−143
Income tax expense	5	1	5	5	2
Net loss	−51	−80	−117	−175	−145
Net loss per sharebasic (in dollars per share)	−0.31	−0.51	−0.77	−1.21	−1.28
Net loss per sharediluted (in dollars per share)	−0.31	−0.51	−0.77	−1.21	−1.28
Weighted average shares used in computing net loss per sharebasic (in shares)	164	157	151	145	114
Weighted average shares used in computing net loss per sharediluted (in shares)	164	157	151	145	114

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	793	726	656	321	581
Accounts receivable, net	65	60	67	54	34
Deferred costs, net	20	25	26	24	20
Prepaid expenses and other current assets	21	20	17	18	16
Total current assets	898	831	832	876	892
Property, equipment, and software, net	43	37	30	27	25
Intangible assets, net	27	25	12	9	10
Other assets	31	38	41	26	15
Total assets	1,000	930	921	948	959
Content liabilities	100	104	101	66	49
Other accounts payable and accrued expenses	30	19	23	23	23
Accrued compensation and benefits	37	32	22	21	18
Deferred revenue, current	181	160	137	116	95
Other current liabilities	11	13	8	7	8
Total current liabilities	358	328	298	242	201
Deferred revenue, non-current	1	2	3	3	4
Other liabilities	5	4	3	2	559,000
Total liabilities	364	333	304	253	217
Commitments and contingencies (Note 9)	—	—	—	—	—
Preferred stock, $0.00001 par value10.0 shares authorized and no shares issued and outstanding as of December 31, 2025 and 2024	0	0	0	0	0
Common stock, $0.00001 par value300.0 shares authorized as of December 31, 2025 and December 31, 2024; 167.9 shares issued and outstanding as of December 31, 2025, and 165.3 shares issued and 160.1 shares outstanding as of December 31, 2024	0	0	2,000	1,000	1,000
Additional paid-in capital	1,547	1,507	1,460	1,364	1,235
Treasury stock, at costnone and 5.2 shares as of December 31, 2025 and 2024	0	−49	−63	−5	−5
Accumulated deficit	−911	−860	−781	−664	−489
Total stockholders equity	636	597	616	695	742
Total liabilities and stockholders equity	1,000	930	921	948	959

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	29	25	22	19	15
Stock-based compensation expense	95	108	110	111	91
Impairment losses	4	2	3	6	0
Other	−300,000	600,000	−12	1	−448,000
Accounts receivable, net	−6	7	−15	−21	6
Prepaid expenses and other assets	7	7	−12	−18	−6
Accounts payable and accrued expenses	8	−2	34	18	16
Accrued compensation and other liabilities	2	6	−5	3	8
Deferred revenue	21	21	21	20	18
Net cash provided by operating activities	109	95	30	−38	2
Purchases of marketable securities	0	0	−122	−594	−242
Proceeds from maturities of marketable securities	0	66	530	375	205
Purchases of property, equipment, and software	−2	−2	−1	−2	−2
Capitalized internal-use software costs	−18	−17	−15	−12	−12
Purchase of minority interest	0	0	−2	0	0
Purchases of content assets	−11	−17	−5	−1	−1
Net cash provided by (used in) investing activities	−30	30	385	−234	−52
Proceeds from exercise of stock options	10	9	27	18	32
Proceeds from employee stock purchase plan	4	6	6	7	6
Payments for repurchases of common stock	0	−37	−59	0	0
Payments for tax withholding on vesting of restricted stock units	−28	−33	−54	−12	−7
Net cash used in financing activities	−14	−55	−79	12	550
Net increase in cash, cash equivalents, and restricted cash	65	70	335	−260	500
Cash paid for income taxes, net of refunds	6	5	6	4	3
Stock-based compensation capitalized as internal-use software costs	8	8	7	5	5
Capital Expenditures Incurred but Not yet Paid	4	2	1	0	577,000
Right-of-use asset obtained in exchange for operating lease liability	2	3	0	0	295,000

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