Coursera, Inc.COUR

Coursera, Inc. Leases Disclosure

10-KFiled Feb 23, 20262 min read
6.    LEASES
We have entered into various non-cancelable office space operating leases, with lease periods expiring through June 2030. These leases do not contain residual value guarantees, covenants, or other restrictions.
In August 2024, we entered into an operating lease agreement for office space in Mountain View, California to replace our existing headquarters lease, resulting in the recognition of an operating lease right-of-use asset and operating lease liability of $3.0 million. The lease term commenced in September 2024 and terminates in June 2030. The operating lease agreement includes an option to extend or terminate the lease, which is not reasonably certain to be exercised and, therefore, is not factored into the determination of lease payments.
The components of lease costs were as follows:
Year Ended December 31,
202520242023
Operating lease cost$0.9 $4.8 $5.5 
Short-term lease cost0.8 0.8 0.9 
Variable lease cost0.7 2.0 2.1 
Sublease income(1)
— (2.3)(2.7)
Total lease costs$2.4 $5.3 $5.8 
(1) In May 2022, we entered into an agreement to sublease a portion of our existing office space in Mountain View, California, which commenced on June 1, 2022 and terminated on October 31, 2024.
Future lease payments under our non-cancelable operating leases, excluding short-term leases, as of December 31, 2025 were as follows:
2026$1.7 
20271.8 
2028
1.2 
2029
1.2 
2030
0.6 
Total lease payments6.5 
Less imputed interest(0.8)
Present value of operating lease liabilities$5.7 
Operating lease liabilities, current1.8 
Operating lease liabilities, non-current3.9 
Total operating lease liabilities$5.7 
Supplemental cash flow information as well as the weighted-average remaining lease term and discount rate related to our operating leases were as follows:
Year Ended December 31,
202520242023
Cash paid for amounts included in the measurement of operating lease liabilities$0.7 $6.5 $8.5 
Cash received for lease incentives
0.8 — — 
Operating lease ROU assets obtained in exchange for lease liabilities2.2 3.0 — 
December 31, 2025December 31, 2024
Weighted-average remaining operating lease term (in years)3.925.43
Weighted-average operating lease discount rate6.50 %6.56 %

Historical Timeline

Fiscal YearFiled
2025Feb 23, 2026Showing above
2022Feb 23, 2023

About Leases Disclosures

Lease disclosures under ASC 842 provide a comprehensive view of a company's leased asset portfolio, including the split between operating and finance leases, discount rates used to present-value future payments, and the maturity schedule of lease obligations. This section reveals a significant source of off-balance-sheet commitments that were largely hidden before the current standard.

Key signals: the weighted-average discount rate affects the size of recorded lease liabilities — a higher rate reduces the reported obligation, so compare the chosen rate against the company's incremental borrowing rate. The operating versus finance lease mix affects both EBITDA and operating income presentation. Watch the maturity table for concentration risk: large payment cliffs in specific years may create cash flow pressure. Variable lease payments excluded from the liability measurement represent real obligations that do not appear on the balance sheet. Compare total lease costs against prior-year operating lease expense to assess the true economic burden.

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