Coursera, Inc. reported first‑quarter 2026 financial results, posting revenue of $195.7 million, a 9% year‑over‑year increase from $179.3 million in Q1 2025. The company recorded a net loss of $20.5 million, translating to a GAAP diluted earnings per share of –$0.12 and a non‑GAAP diluted EPS of $0.07. The non‑GAAP EPS fell short of the consensus estimate of $0.07–$0.08 by $0.01, while the GAAP EPS matched the consensus of –$0.12.
Consumer revenue grew 10% and enterprise revenue rose 7%. Gross profit margins expanded to 63.2% for consumer and 70.8% for enterprise, up from 61% and 71% reported previously, reflecting the early benefits of the 15% platform fee and a higher mix of high‑margin Coursera‑produced content. The platform fee, introduced earlier in the year, has begun to lift unit economics across both segments.
Coursera reaffirmed its full‑year 2026 revenue guidance of $805 million to $815 million, unchanged from prior guidance. The company also reiterated its adjusted EBITDA guidance of $70 million to $76 million for the year, noting that the guidance reflects a stand‑alone basis and does not include the proposed Udemy transaction. Paid enterprise customers increased 5% to 1,729, and the company added a record 7.6 million new registered learners, bringing cumulative learners past 200 million.
CEO Greg Hart said, "Coursera delivered a strong start to 2026, including our fourth consecutive quarter of double‑digit year‑over‑year Consumer revenue growth and a first quarter record of 7.6 million new registered learners. We have now surpassed more than 200 million cumulative learners, giving us both broad scale and deep insight into how the world learns and the skills employers value at a pivotal moment for global labor markets." CFO Michael Foley added, "For the second quarter, we expect revenue to be in the range of $196 million to $200 million and we expect adjusted EBITDA to be in the range of $12 million to $16 million." He also noted, "For full year 2026, we are reaffirming our prior guidance, guiding to revenue of $805 million to $815 million and adjusted EBITDA of $70 million to $76 million, while stating 'today's guidance reflects Coursera's expectations on a stand‑alone basis and does not include any impact from the proposed Udemy transaction.'"
Investors focused on the EPS miss and the cautious outlook for the enterprise segment. The company’s strong consumer momentum and margin expansion are offset by slower enterprise growth and headwinds such as longer sales cycles and pressure on learning‑and‑development budgets. The ongoing all‑stock combination with Udemy is expected to broaden Coursera’s product portfolio and generate cost synergies, but the transaction’s impact will not be reflected in the current guidance.
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