We came across a bullish thesis on Coursera, Inc. on Saadiyat Capital’s Substack by Shehroz Babar. In this article, we will summarize the bulls’ thesis on COUR. Coursera, Inc.'s share was trading at $10.49 as of September 10th. COUR’s forward P/E was 24.15 according to Yahoo Finance. Is NCR Voyix Corporation (VYX) the Best Information Technology Services Stock to Buy Right Now? Robert Kneschke/Shutterstock.com Coursera (NYSE: COUR) has emerged as a leading global E-learning platform, connecting over 168 ...

Coursera (NYSE: COUR ) has seen its stock rise by 50% over the past six months, fueled by a recent reacceleration of revenue growth in Q2 in the context of an attractive valuation. Although investors mayAriel Sokol offers over twenty years of experience as a corporate finance professional at both established companies and startups. Mr. Sokol founded Kolari Consulting, a strategy consulting firm focusing on subscription and edtech businesses. Previously Mr. Sokol served as a VP of strategy and finance and Ge ...

Coursera (NYSE: COUR ) has seen its stock rise by 50% over the past six months, fueled by a recent reacceleration of revenue growth in Q2 in the context of an attractive valuation. Although investors mayAriel Sokol offers over twenty years of experience as a corporate finance professional at both established companies and startups. Mr. Sokol founded Kolari Consulting, a strategy consulting firm focusing on subscription and edtech businesses. Previously Mr. Sokol served as a VP of strategy and finance and Ge ...

PresentationBryan SmilekAnalyst Awesome. Good morning, and welcome, everybody. I'm Bryan Smilek, JPMorgan's Internet and Online Education Analyst, and I'm really excited to host two of Coursera's newest leaders for today's webcast conversation. As a reminder to all listeners, this webcast is being conducted in listen-only mode and is scheduled for the next half hour or so. As such, if you have any questions, feel free to reach out to either me or the team after today's event. So let's kick it off. Let's sta ...

PresentationBryan SmilekAnalyst Awesome. Good morning, and welcome, everybody. I'm Bryan Smilek, JPMorgan's Internet and Online Education Analyst, and I'm really excited to host two of Coursera's newest leaders for today's webcast conversation. As a reminder to all listeners, this webcast is being conducted in listen-only mode and is scheduled for the next half hour or so. As such, if you have any questions, feel free to reach out to either me or the team after today's event. So let's kick it off. Let's sta ...

Summary of Coursera's Recent Conference Call Company Overview - **Company**: Coursera - **Industry**: Online Education and Learning Platforms Key Points and Arguments Leadership Changes and Vision - **New Leadership**: Greg Hart joined as CEO in February 2023, focusing on accelerating growth through product innovation and addressing the skills needed in a rapidly changing global economy [2][6] - **Product Focus**: Patrick Suppes, the new Chief Product Officer, emphasizes the intersection of education and technology, aiming to build customer-focused technology products [3][4] Strategic Focus Areas - **Content Investment**: Coursera has historically underinvested in content but is now increasing investment to enhance the content engine, which is deemed essential for business growth [7][10] - **Go-to-Market Strategy**: The company aims to improve external marketing and customer retention, aligning marketing efforts with platform performance [8][10] Annual Conference - Connect - **Event Overview**: Connect is Coursera's annual event that gathers content creators, industry partners, and enterprise customers to discuss skills delivery and unveil new products [10][12] - **Feedback**: Positive feedback was received regarding new product announcements, including SkillTrack and improvements to CourseBuilder and Roleplay [10][12] Impact of AI on Education - **Generative AI**: The rapid adoption of AI technologies, such as ChatGPT, is reshaping job requirements and necessitating continuous learning [15][16] - **Skill Development**: Coursera is positioned to help individuals and businesses upskill and reskill in response to AI advancements, focusing on verifiable skills [16][17] New Partnerships and Content Strategy - **Anthropic Partnership**: The collaboration with Anthropic aims to enhance AI content offerings, with significant enrollment growth in GenAI courses [24][25] - **Content Personalization**: AI will enable more personalized learning experiences, allowing learners to start at appropriate skill levels and progress at their own pace [20][21] SkillTrack Launch - **SkillTrack Overview**: A new enterprise offering designed to align modular content with specific skills needed in the workplace, featuring interactive, AI-powered experiences [38][39] - **Verified Assessments**: SkillTrack includes assessments that validate the application of skills in realistic scenarios, enhancing employer confidence in credentialed learners [40][41] Growth Metrics and Future Outlook - **Performance Metrics**: Coursera tracks top-of-funnel metrics, conversion rates, retention, and average revenue per user (ARPU) to assess growth [44][45] - **Revenue Guidance**: The company increased its revenue guidance to $742 million and EBITDA margin to 8%, indicating confidence in future growth [51][52] Long-term Vision - **Future Expectations**: In three years, Coursera aims to be the leading platform for skill discovery, mastery, and verification, leveraging AI to create a more personalized and interactive learning experience [56][58] Additional Important Insights - **Customer-Centric Approach**: Emphasis on understanding learner needs and adapting offerings accordingly, including region-specific pricing and enhanced course previews [47][48] - **AI Integration**: Continuous investment in AI-driven products to improve course creation efficiency and learner engagement [27][30][36] This summary encapsulates the key discussions and strategic directions outlined during Coursera's recent conference call, highlighting the company's commitment to innovation and responsiveness to market demands.

Coursera, Inc. (NYSE:COUR) is among the best education stocks to buy right now. According to the Form 13F filing with the SEC, AlphaQuest LLC has expanded its holdings in Coursera, Inc. (NYSE:COUR) by 164.5% during the first quarter. With the purchase of 26,147 shares, the firm now owns 42,039 shares of the company’s stock, valued at $280,000. There’s one thing that everyone is rooting for, and that’s Coursera’s rapid expansion. Coursera, Inc. (NYSE:COUR) has a business model that is tailored yet generic. ...

MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--Coursera, Inc. (NYSE: COUR), a leading global online learning platform, today announced the launch of Skill Tracks, a data-backed learning solution mapped to specific occupations that guides learners from foundational knowledge to expert proficiency through verified skill paths. Powered by Coursera's Career Graph, which uses millions of labor market data points, third-party competency frameworks, and a proprietary skills taxonomy, Skill Tracks precisely m. ...

Coursera (COUR) Conference Call Summary Company Overview - **Company**: Coursera (COUR) - **Date of Conference**: August 11, 2025 - **Key Speaker**: Ken Corso, CFO Industry and Business Segments - **Industry**: Online Education and Learning Platforms - **Business Segments**: - Consumer Segment - Enterprise Segment Key Points and Arguments Business Performance - The consumer segment faced operational and executional headwinds leading to slowed growth since the IPO in March 2021, but has recently rebounded with double-digit growth in the last quarter [6][8] - The enterprise segment also experienced a slowdown due to uncertainty in capital spending across the market [6][20] - The appointment of the new CEO, Greg Hart, has led to a renewed focus on operational improvements, particularly in the consumer segment [7] AI and Course Demand - There has been a significant increase in interest in AI-related courses, with enrollments rising from 8 to 12 per minute over the past year [11] - The company has expanded its offerings to include 5,000 courses in 26 languages, resulting in increased revenue from these courses [12] - A shift in demand is noted, with more mid-level professionals seeking reskilling in AI rather than just entry-level courses [14] Subscription Model - The Coursera Plus subscription model has seen strong adoption, particularly in annual subscriptions, which enhances cash flow and deferred revenue visibility [17] - The focus on improving key metrics such as conversion and retention has yielded positive results, contributing to overall growth [17][18] Enterprise Segment Insights - The enterprise segment is experiencing a slowdown, but there is optimism for recovery as companies seek to reskill their workforces in response to AI advancements [19][21] - The campus segment, while smaller, is performing well, offering accredited courses to universities, which is beneficial for both students and institutions [25][27] Financial Performance - The company reported strong second-quarter results, raising its full-year revenue guidance by $17 million and increasing EBITDA guidance [36][40] - The consumer business model reacts quickly to improvements, leading to immediate payback on strategic initiatives [35] - There is a focus on maintaining a balance between growth and operational efficiency, with improvements in gross margin due to content initiatives and partnerships [44] Future Outlook - The company is transitioning towards a more platform-oriented approach, enhancing the value of its offerings through AI and product improvements [49][51] - There is an expectation of creating more value with existing content, which will drive revenue growth [53] Additional Important Insights - The synergy between Coursera's consumer and enterprise segments is significant, with approximately 30% of enterprise leads coming from former students [32] - The company emphasizes the importance of brand recognition and the value of certificates in enhancing the learning experience [49] - The management is focused on long-term platform investments and capabilities to drive future growth [51] This summary encapsulates the key insights from the conference call, highlighting Coursera's current performance, strategic initiatives, and future outlook in the online education industry.

[PART I. FINANCIAL INFORMATION](index=3&type=section&id=PART%20I.%20FINANCIAL%20INFORMATION) [Item 1. Condensed Consolidated Financial Statements (Unaudited)](index=3&type=section&id=Item%201.%20Condensed%20Consolidated%20Financial%20Statements%20(Unaudited)) The company presents its unaudited financial statements, showing revenue growth and a significantly reduced net loss - Effective February 3, 2025, Gregory Hart was appointed as the new President and Chief Executive Officer (CEO)[24](index=24&type=chunk) - Following the CEO transition, the company simplified its business model and now operates under two reporting segments: **Consumer** and **Enterprise**[25](index=25&type=chunk)[83](index=83&type=chunk) Condensed Consolidated Balance Sheet Highlights (in millions) | Account | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $775.1 | $726.1 | | Total current assets | $881.9 | $830.7 | | Total assets | $979.9 | $930.3 | | **Liabilities & Equity** | | | | Total current liabilities | $346.2 | $327.5 | | Total liabilities | $352.9 | $332.9 | | Total stockholders' equity | $627.0 | $597.4 | Condensed Consolidated Statements of Operations Highlights (in millions) | Metric | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :--- | :--- | :--- | :--- | :--- | | Revenue | $187.1 | $170.3 | $366.4 | $339.4 | | Gross Profit | $102.7 | $90.2 | $200.6 | $179.7 | | Loss from operations | $(15.1) | $(31.2) | $(29.5) | $(61.0) | | Net loss | $(7.8) | $(22.9) | $(15.6) | $(44.2) | | Net loss per share | $(0.05) | $(0.15) | $(0.10) | $(0.28) | Condensed Consolidated Statements of Cash Flows Highlights (in millions) | Cash Flow Activity | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :--- | :--- | :--- | | Net cash provided by operating activities | $69.0 | $48.3 | | Net cash provided by (used in) investing activities | $(15.1) | $52.8 | | Net cash used in financing activities | $(6.5) | $(48.7) | [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=22&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management analyzes Q2 2025 results, detailing revenue growth, segment performance, and key business metrics [Results of Operations](index=26&type=section&id=Results%20of%20Operations) Revenue grew 10% YoY in Q2 2025, driven by growth in both segments and improved gross margins Revenue by Segment (in millions) | Segment | Q2 2025 | Q2 2024 | % Change | H1 2025 | H1 2024 | % Change | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Consumer | $122.8 | $111.6 | 10% | $240.4 | $223.2 | 8% | | Enterprise | $64.3 | $58.7 | 10% | $126.0 | $116.2 | 8% | | **Total Revenue** | **$187.1** | **$170.3** | **10%** | **$366.4** | **$339.4** | **8%** | - Gross margin for Q2 2025 increased to **54.9%** from 53.0% in Q2 2024, driven by lower content cost rates in both Consumer and Enterprise segments[132](index=132&type=chunk)[133](index=133&type=chunk) - Total operating expenses for Q2 2025 **decreased by 3% YoY** to $117.8 million, primarily due to lower personnel-related expenses from 2024 expense reduction initiatives[138](index=138&type=chunk)[139](index=139&type=chunk)[143](index=143&type=chunk) [Liquidity and Capital Resources](index=31&type=section&id=Liquidity%20and%20Capital%20Resources) The company maintains strong liquidity with $775.1 million in cash and increased operating cash flow - The company's principal source of liquidity as of June 30, 2025, was cash and cash equivalents totaling **$775.1 million**[148](index=148&type=chunk) - Net cash provided by operating activities **increased by $20.7 million to $69.0 million** for the six months ended June 30, 2025, compared to the same period in 2024[156](index=156&type=chunk)[157](index=157&type=chunk) - The share repurchase program, authorizing up to $95.0 million, was completed in May 2024, with no repurchases made in 2025[152](index=152&type=chunk)[153](index=153&type=chunk) [Key Business Metrics and Non-GAAP Financial Measures](index=33&type=section&id=Key%20Business%20Metrics%20and%20Non-GAAP%20Financial%20Measures) Key metrics show growth in learners and enterprise customers, with improved non-GAAP profitability Key Business Metrics as of June 30 | Metric | 2025 | 2024 | YoY Growth | | :--- | :--- | :--- | :--- | | Total Registered Learners (millions) | 183 | 155 | 18% | | Paid Enterprise Customers | 1,686 | 1,511 | 12% | | Net Retention Rate for Paid Enterprise Customers | 93% | 93% | 0% | Non-GAAP Financial Measures Reconciliation (in millions) | Metric | Q2 2025 | Q2 2024 | H1 2025 | H1 2024 | | :--- | :--- | :--- | :--- | :--- | | **Non-GAAP Gross Profit** | $104.7 | $92.3 | $204.8 | $184.0 | | **Non-GAAP Net Income** | $19.3 | $13.8 | $39.0 | $25.7 | | **Adjusted EBITDA** | $18.0 | $10.4 | $36.7 | $18.7 | | **Free Cash Flow** | N/A | N/A | $53.9 | $35.1 | [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=38&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company's primary market risks are interest rate and foreign currency fluctuations - The company's primary market risks are **interest rate changes** and **foreign currency fluctuations**[186](index=186&type=chunk) - A hypothetical **100 basis point** increase or decrease in interest rates would result in a **$7.8 million** change in annualized interest income as of June 30, 2025[189](index=189&type=chunk) - Foreign currency risk from operating expenses would have had a **negligible impact** on pre-tax loss for Q2 2025 based on a 10% change in exchange rates[190](index=190&type=chunk)[192](index=192&type=chunk) [Item 4. Controls and Procedures](index=39&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and internal controls over financial reporting were effective - The CEO and CFO concluded that as of the end of the period, the company's disclosure controls and procedures were **effective** at the reasonable assurance level[194](index=194&type=chunk) - **No changes** in internal control over financial reporting occurred during the quarter that have materially affected, or are reasonably likely to materially affect, these controls[195](index=195&type=chunk) [PART II. OTHER INFORMATION](index=40&type=section&id=PART%20II.%20OTHER%20INFORMATION) [Item 1. Legal Proceedings](index=40&type=section&id=Item%201.%20Legal%20Proceedings) The company details legal proceedings, including a $4.5 million settlement for privacy arbitration matters - The company refers to Note 9 in Part I, Item 1 for information on legal proceedings[199](index=199&type=chunk) - In May 2025, the company entered into settlement agreements with the majority of remaining claimants in the Privacy Arbitration Matters for **$4.5 million**[59](index=59&type=chunk) [Item 1A. Risk Factors](index=40&type=section&id=Item%201A.%20Risk%20Factors) The company faces risks related to industry growth, competition, regulation, AI, and its PBC status - The company's growth may be adversely impacted by macroeconomic conditions, and its limited operating history makes future results difficult to predict[201](index=201&type=chunk)[207](index=207&type=chunk) - The business depends on partnerships with content creators, with the top five generating approximately **24% of total revenue** in the first six months of 2025[212](index=212&type=chunk) - The use of AI presents risks related to inaccurate content, academic integrity, and evolving regulations, which could damage the company's reputation[245](index=245&type=chunk)[246](index=246&type=chunk) - Degree programs rely on the DOE's non-codified "bundled services exception" guidance, which could be altered or removed, impacting revenue-sharing models[298](index=298&type=chunk)[300](index=300&type=chunk) - As a Public Benefit Corporation (PBC), the board must balance stockholder interests with its public benefit purpose, potentially impacting short-term financial results[372](index=372&type=chunk)[374](index=374&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=81&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company reports no unregistered sales of equity securities during the reporting period - None[381](index=381&type=chunk) [Item 5. Other Information](index=81&type=section&id=Item%205.%20Other%20Information) Two company officers adopted Rule 10b5-1 trading arrangements during the quarter - On May 15, 2025, Michele M. Meyers, VP, Accounting and Chief Accounting Officer, entered into a Rule 10b5-1 trading arrangement for the sale of up to **21,000 shares** of common stock[383](index=383&type=chunk) - On May 30, 2025, Marcelo C. Modica, SVP and Chief People Officer, entered into a Rule 10b5-1 trading arrangement for the sale of up to **51,720 shares** of common stock[384](index=384&type=chunk) [Item 6. Exhibits](index=82&type=section&id=Item%206.%20Exhibits) This section lists all exhibits filed with the Form 10-Q, including certifications and charter documents - Lists the exhibits filed with the report, including charter documents, officer certifications required by the Sarbanes-Oxley Act, and Inline XBRL documents[390](index=390&type=chunk)