Coursera, Inc. COUR
Our mission is to provide universal access to world-class learning so that anyone, anywhere can transform their life through learning. We believe learning is a powerful source of human progress, transforming our world from illness to health, from poverty to prosperity, and from conflict to peace.
As a global platform, Coursera unites educators, learners, and institutions, serving approximately 197 million learners from over 230 countries and territories as of December 31, 2025. Our content is created by a world-class ecosystem of expert instructors, including more than 200 universities and 175 industry leaders, who have developed a broad catalog of content and credentials, ranging from entry-level industry microcredentials to university degrees. These offerings are distributed globally through our platform, making high-quality, affordable education more accessible around the world.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $757.5M | $694.7M | $635.8M | $523.8M | $415.3M | $293.5M | $184.4M | — |
| Cost of revenue | $344.1M | $323.3M | $306.0M | $192.3M | $165.8M | $138.8M | $89.6M | — |
| Gross profit | $413.4M | $371.4M | $329.8M | $331.5M | $249.5M | $154.7M | $94.8M | — |
| R&D | $121.6M | $132.1M | $160.1M | $165.1M | $135.4M | $76.8M | $56.4M | — |
| SG&A | $114.4M | $108.7M | $98.3M | $105.9M | $77.8M | $37.2M | $29.8M | — |
| Total operating expenses | $490.8M | $484.6M | $475.4M | $508.9M | $392.5M | $221.2M | $143.2M | — |
| Operating income | -$77.4M | -$113.2M | -$145.6M | -$177.4M | -$143.1M | -$66.6M | -$48.4M | — |
| Interest expense | — | — | — | — | $0 | $12.0K | $625.0K | — |
| Pre-tax income | -$45.9M | -$78.5M | -$111.2M | -$170.6M | -$143.1M | -$65.3M | -$46.0M | — |
| Income tax | $5.1M | $1.0M | $5.4M | $4.7M | $2.1M | $1.5M | $718.0K | — |
| Net income | -$51.0M | -$79.5M | -$116.6M | -$175.4M | -$145.2M | -$66.8M | -$46.7M | — |
| EPS, basic | -0.31 | -0.51 | -0.77 | -1.21 | -1.28 | -1.80 | — | — |
| EPS, diluted | -0.31 | -0.51 | -0.77 | -1.21 | -1.28 | -1.80 | -1.45 | — |
| Shares, diluted (wtd. avg.) | $163.8M | $157.4M | $151.0M | $145.3M | $113.6M | $37.2M | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $792.6M | $726.1M | $656.3M | $322.9M | $582.7M | $82.4M | $59.8M | $32.7M |
| Short-term investments | — | $0 | $65.7M | $459.7M | $241.1M | $205.4M | — | — |
| Receivables | $65.4M | $59.7M | $67.4M | $53.7M | $34.4M | $40.7M | — | — |
| Total current assets | $898.1M | $830.7M | $832.5M | $876.0M | $892.3M | $355.1M | — | — |
| Property, plant and equipment | $43.4M | $36.9M | $30.4M | $27.1M | $24.7M | $18.6M | — | — |
| Other intangibles | $27.1M | $24.5M | $11.7M | $8.6M | $10.1M | $10.6M | — | — |
| Total assets | $1.00B | $930.3M | $920.5M | $947.6M | $958.9M | $417.6M | — | — |
| Total current liabilities | $357.9M | $327.5M | $298.3M | $242.4M | $201.1M | $153.6M | — | — |
| Total liabilities | $364.3M | $332.9M | $304.3M | $253.0M | $217.4M | $177.2M | — | — |
| Retained earnings | -$911.2M | -$860.2M | -$780.7M | -$664.1M | -$488.8M | -$343.6M | — | — |
| Total equity | $635.7M | $597.4M | $616.2M | $694.6M | $741.5M | -$221.8M | -$187.0M | -$177.7M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $108.7M | $95.4M | $29.7M | -$38.1M | $1.7M | -$15.0M | -$21.3M | — |
| Depreciation and amortisation | $28.8M | $25.1M | $22.3M | $18.5M | $14.8M | $9.6M | $5.3M | — |
| Stock-based compensation | $95.1M | $108.1M | $109.6M | $110.8M | $91.2M | $16.8M | $16.3M | — |
| Capital expenditure | $1.5M | $1.6M | $1.1M | $1.6M | $1.6M | $3.1M | $4.4M | — |
| Investing cash flow | -$30.2M | $29.9M | $384.8M | -$234.0M | -$51.6M | -$101.4M | -$64.9M | — |
| Financing cash flow | -$13.5M | -$55.0M | -$79.3M | $12.2M | $550.2M | $139.0M | $113.4M | — |
| Buybacks | $0 | $36.7M | $58.5M | $0 | $0 | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001651562-26-000036.
Others in SIC 7372
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| MSFT | MICROSOFT CORP | $3.71T | 27.8x | 17.8% |
| ORCL | ORACLE CORP | $457.36B | 27.2x | 17.3% |
| PLTR | Palantir Technologies Inc. | $418.36B | 276.7x | 56.2% |
| CRWD | CrowdStrike Holdings, Inc. | $218.20B | — | 21.7% |
| CRM | Salesforce, Inc. | $213.35B | 33.2x | 9.6% |
| SHOP | SHOPIFY INC. | $187.92B | 154.4x | 30.1% |
| NOW | ServiceNow, Inc. | $146.06B | 84.6x | 20.9% |
| SNOW | Snowflake Inc. | $118.96B | — | 29.2% |