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Coursera,(COUR) - 2022 Q1 - Quarterly Report
2022-05-05 16:00
Learner Growth - As of March 31, 2022, Coursera has approximately 102 million registered learners on its platform[91]. - The company experienced a 25% increase in registered learners, contributing to the revenue growth[125]. - The number of total registered learners increased to 101.7 million, reflecting a year-over-year growth of 25% from 81.5 million[155]. - The number of Degrees students rose to 16,481, marking a year-over-year growth of 22% from 13,493[158]. Financial Performance - For the three months ended March 31, 2022, Coursera reported a net loss of $38.3 million, compared to a net loss of $18.7 million for the same period in 2021, resulting in a net loss margin of 32%[93]. - Total revenue for the three months ended March 31, 2022, was $120.4 million, a 36% increase from $88.4 million in the same period of 2021[125]. - Consumer revenue for the three months ended March 31, 2022, was $68.1 million, a 31% increase from $51.9 million in 2021[165]. - Enterprise revenue grew by 59% to $39.0 million in the same period, up from $24.5 million[165]. - Gross profit for the three months ended March 31, 2022, was $77.6 million, representing a 57% increase from $49.5 million in the same period of 2021[130]. - The gross margin improved to 64% for the three months ended March 31, 2022, compared to 56% in the same period of 2021[132]. - Non-GAAP gross profit for the three months ended March 31, 2022, was $78.2 million, compared to $49.6 million in 2021[171]. - Adjusted EBITDA for the same period was $(10.970) million, with an adjusted EBITDA margin of (9)%[175]. Operating Expenses - The company expects operating expenses to increase as it continues to build sales and marketing efforts, expand its employee base, and invest in technology[103]. - Operating expenses totaled $114.8 million for the three months ended March 31, 2022, a 69% increase from $67.9 million in the same period of 2021[133]. - Research and development expenses increased by 71% to $38.0 million, driven by higher personnel-related costs and stock-based compensation[134]. - Stock-based compensation expenses rose significantly to $21.978 million from $5.284 million in the previous year[175]. - Depreciation and amortization expenses increased to $4.182 million from $2.931 million year-over-year[175]. Cash Flow and Investments - Net cash used in operating activities was $(38.257) million for the three months ended March 31, 2022, compared to $(4.347) million in the prior year[178]. - Net cash used in investing activities was $185.1 million for the three months ended March 31, 2022, compared to a cash inflow of $78.0 million in the same period of 2021[150]. - Net cash provided by financing activities was $4.0 million for the three months ended March 31, 2022, slightly down from $4.5 million in 2021[151]. - As of March 31, 2022, the company had cash, cash equivalents, and marketable securities totaling $780.4 million[140]. - As of March 31, 2022, the company held $419.1 million in marketable securities, with a hypothetical 100 basis point change in interest rates impacting the market value by $2.3 million[185]. Strategic Focus - Coursera aims to expand its international footprint, particularly in regions with large, underserved adult learning populations[101]. - The company anticipates that its Enterprise and Degrees segments will grow faster than its Consumer segment, which will positively impact overall margins[99]. - The company is focused on converting free learners to paid learners through targeted marketing efforts[100]. - The company has partnered with over 250 leading global universities and industry partners to create and distribute content[91]. Tax and Currency Impact - Income tax expense for the three months ended March 31, 2022, was $1.0 million, a 169% increase from $0.4 million in the same period of 2021[139]. - A 10% increase or decrease in foreign currency exchange rates would have resulted in a $2.0 million impact on the quarterly unaudited condensed consolidated statement of operations for the three months ended March 31, 2022[186]. - The company has not entered into any hedging arrangements regarding foreign currency risk but may consider it in the future[186]. Customer Retention - The Net Retention Rate for Paid Enterprise Customers decreased to 109% as of March 31, 2022, down from 113% in the prior year[163].
Coursera,(COUR) - 2022 Q1 - Earnings Call Presentation
2022-04-29 14:13
| --- | --- | |----------------------------------------------|-------| | | | | | | | Q1 2022 Investor Presentation April 27, 2022 | | Q1 2022 Investor Presentation 2 Disclaimer Information contained in this presentation is current as of the Q1 2022 earnings date Non-GAAP Financial Measures In addition to financial information presented in accordance with GAAP, this press release includes non-GAAP gross profit, non-GAAP net loss, adjusted EBITDA, adjusted EBITDA margin and Free Cash Flow, each of which is a ...
Coursera,(COUR) - 2022 Q1 - Earnings Call Transcript
2022-04-28 02:17
Coursera, Inc. (NYSE:COUR) Q1 2022 Earnings Conference Call April 27, 2022 5:00 PM ET Company Participants Cam Carey - Head, IR Jeffrey Maggioncalda - CEO, President & Director Kenneth Hahn - SVP, CFO & Treasurer Conference Call Participants Rishi Jaluria - RBC Capital Markets Joshua Baer - Morgan Stanley Terrell Tillman - Truist Securities Stephen Sheldon - William Blair & Company Brian Peterson - Raymond James & Associates Eric Sheridan - Goldman Sachs Group Ryan MacDonald - Needham & Company Operator Lad ...
Coursera,(COUR) - 2021 Q4 - Annual Report
2022-03-02 16:00
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____ to ____ Commission File Number: 001-40275 COURSERA, INC. (Exact Name of Registrant as Specified in its Charter) Delaware 45-3560292 (State or ...
Coursera,(COUR) - 2021 Q4 - Earnings Call Presentation
2022-02-11 20:38
| --- | --- | --- | |-----------------------------------------|-------|-------| | | | | | Q4 2021 | | | | Investor Presentation February 10, 2022 | | | Q4 2021 Investor Presentation 2 Disclaimer Information contained in this presentation is current as of the Q4 2021 earnings date Non-GAAP Financial Measures In addition to financial information presented in accordance with GAAP, this press release includes non-GAAP gross profit, non-GAAP net loss, adjusted EBITDA, adjusted EBITDA margin and Free Cash Flow, e ...
Coursera,(COUR) - 2021 Q4 - Earnings Call Transcript
2022-02-11 05:09
Coursera, Inc. (NYSE:COUR) Q4 2021 Earnings Conference Call February 10, 2022 5:00 PM ET Company Participants Cam Carey - Head, IR Jeffrey Maggioncalda - CEO Kenneth Hahn - CFO Conference Call Participants Joshua Baer - Morgan Stanley Stephen Sheldon - William Blair Rishi Jaluria - RBC Eric Sheridan - Goldman Sachs Jason Celino - KeyBanc Ryan McDonald - Needham Operator Ladies and gentlemen, thank you for standing by, and welcome to Coursera's Fourth Quarter Full Year 2021 Earnings Call. At this time all pa ...
Coursera,(COUR) - 2021 Q3 - Quarterly Report
2021-11-09 16:00
Financial Performance - For the three months ended September 30, 2021, Coursera reported a net loss of $32.5 million, with a net loss margin of (30)%[102]. - For the nine months ended September 30, 2021, Coursera's net loss increased to $97.5 million, with a net loss margin of (32)%[103]. - Revenue for the three months ended September 30, 2021, was $109.9 million, an increase of $27.2 million or 33% compared to $82.7 million for the same period in 2020[136]. - Revenue for the nine months ended September 30, 2021, was $300.3 million, an increase of $90.1 million or 43% compared to $210.2 million for the same period in 2020[140]. - Gross profit for the nine months ended September 30, 2021, was $178.2 million, a 60% increase from $111.2 million in the same period of 2020[144]. - Gross margin improved to 59% for the nine months ended September 30, 2021, up from 53% in the same period of 2020[147]. - Total operating expenses for the three months ended September 30, 2021, were $99.15 million, up from $55.59 million in the same period of 2020, reflecting increased investment in R&D and marketing[195]. Revenue Sources and Growth - Coursera's revenue is derived from three sources: Consumer, Enterprise, and Degrees, with revenue recognized ratably over the contract term[117][118]. - The shift in revenue mix towards Degrees and Enterprise is expected to improve overall margins as these segments incur lower content costs[111][123]. - Total Consumer revenue increased by $9.2 million, or 16%, for the three months ended September 30, 2021, compared to the same period in 2020[137]. - Total Enterprise revenue increased by $13.7 million, or 75%, for the three months ended September 30, 2021, compared to the same period in 2020[138]. - Total Degrees revenue increased by $4.3 million, or 59%, for the three months ended September 30, 2021, compared to the same period in 2020[139]. - Total Degrees revenue increased by $14.9 million, or 72%, for the nine months ended September 30, 2021, compared to the same period in 2020[143]. - Consumer segment revenue for the nine months ended September 30, 2021, was $180.4 million, with a year-over-year growth of 29%[188]. - Enterprise segment revenue for the nine months ended September 30, 2021, was $84.5 million, showing a year-over-year growth of 69%[188]. Learner and Customer Growth - As of September 30, 2021, Coursera has approximately 92 million registered learners on its platform[100]. - Total registered learners increased to 92.1 million as of September 30, 2021, representing a year-over-year growth of 29%[179]. - The number of Degrees students grew by 40% year-over-year, reaching 16,068 as of September 30, 2021[182]. - Paid Enterprise Customers increased from 318 as of September 30, 2020, to 711 as of September 30, 2021[184]. - Net Retention Rate for Paid Enterprise Customers improved from 108% as of September 30, 2020, to 113% as of September 30, 2021[186]. Expenses and Investments - Research and development expenses for the nine months ended September 30, 2021, were $97.1 million, an increase of 82% from $53.4 million in the same period of 2020[153]. - Sales and marketing expenses for the nine months ended September 30, 2021, were $121.7 million, up 68% from $72.3 million in the same period of 2020[155]. - General and administrative expenses for the nine months ended September 30, 2021, increased to $54.9 million, a 113% rise from $25.8 million in the same period of 2020[157]. - Research and development expenses are expected to increase in absolute dollars over time, although as a percentage of revenue, they are expected to generally decrease over the long term[125]. - Sales and marketing expenses are also expected to increase in absolute dollars as the business grows, with a long-term expectation of a decrease as a percentage of revenue[126]. - General and administrative expenses are anticipated to increase in absolute dollars as the business expands, with a long-term expectation of a decrease as a percentage of revenue[128]. Cash and Financing - As of September 30, 2021, the company had cash, cash equivalents, and marketable securities totaling $816.1 million[163]. - The company expects its existing cash and cash equivalents will be sufficient to meet its cash needs for at least the next 12 months[164]. - Cash provided by financing activities for the nine months ended September 30, 2021, was $542.0 million, primarily from net proceeds of the IPO[176]. - The company had net cash provided by financing activities of $541.98 million for the nine months ended September 30, 2021, compared to $136.58 million in the same period of 2020, reflecting strong financing support[203]. Market and Economic Factors - The COVID-19 pandemic has accelerated the demand for online learning, significantly increasing Coursera's revenue due to higher enrollments[116]. - The company is focused on expanding its international footprint to tap into underserved adult learning populations[113]. - A hypothetical 100 basis point increase or decrease in interest rates would not have resulted in a material impact on the market value of the company's cash equivalents and marketable securities[211]. - The company's revenue is primarily denominated in U.S. dollars, minimizing significant foreign currency risk[212]. - Operating expenses are subject to fluctuations due to changes in foreign currency exchange rates, particularly with the Pound Sterling, Canadian Dollar, and Indian Rupee[212]. - A 10% increase or decrease in current exchange rates would have resulted in an impact of $1.6 million on the company's quarterly unaudited condensed consolidated financial statements[212].
Coursera,(COUR) - 2021 Q3 - Earnings Call Presentation
2021-11-04 17:00
| --- | --- | --- | --- | |-------|-------|-------|-------| | | | | | | | | | | 1 Q3 FY21 Disclaimer Information contained in this presentation is current as of the Q3 FY21 earnings date Non-GAAP Financial Measures In addition to financial information presented in accordance with GAAP, this press release includes non-GAAP gross profit, non-GAAP net loss, adjusted EBITDA, adjusted EBITDA margin and Free Cash Flow, each of which is a non-GAAP financial measure. These are key measures used by our management to ...
Coursera,(COUR) - 2021 Q3 - Earnings Call Transcript
2021-11-03 02:49
Coursera, Inc. (NYSE:COUR) Q3 2021 Earnings Conference Call November 2, 2021 5:00 PM ET Company Participants Cam Carey - Head, IR Jeffrey Maggioncalda - CEO, President & Director Kenneth Hahn - SVP, CFO & Treasurer Conference Call Participants Thomas Singlehurst - Citigroup Joshua Baer - Morgan Stanley Stephen Sheldon - William Blair & Company Ryan MacDonald - Needham & Company Jason Celino - KeyBanc Capital Markets Rishi Jaluria - RBC Capital Markets Michael Ng - Goldman Sachs Group Operator Ladies and gen ...
Coursera,(COUR) - 2021 Q2 - Quarterly Report
2021-08-12 16:00
User Growth - As of June 30, 2021, Coursera has approximately 87 million registered learners on its platform, reflecting a significant user base growth[98]. - The number of registered learners increased to 86.7 million as of June 30, 2021, up 36% year-over-year from 63.7 million[174]. - The number of Paid Enterprise Customers grew by 109% year-over-year, reaching 584 as of June 30, 2021, compared to 279 in the same period of 2020[181]. - Degrees student count increased by 81% year-over-year, reaching 14,630 as of June 30, 2021, compared to 8,079 in the same period of 2020[179]. Financial Performance - For the three months ended June 30, 2021, Coursera reported a net loss of $46.4 million, with a net loss margin of (45)%, compared to a net loss of $13.9 million and a margin of (19)% for the same period in 2020[100]. - For the six months ended June 30, 2021, the net loss increased to $65.0 million, with a net loss margin of (34)%, compared to a net loss of $28.2 million and a margin of (22)% in 2020[101]. - Revenue for the three months ended June 30, 2021, was $102.1 million, an increase of $28.4 million or 38% compared to $73.7 million for the same period in 2020[135]. - Revenue for the six months ended June 30, 2021, was $190.5 million, an increase of $62.9 million or 49% compared to $127.6 million for the same period in 2020[139]. - The net loss for the three months ended June 30, 2021, was $46.363 million, compared to a net loss of $13.916 million for the same period in 2020, representing a deterioration of about 233.5%[192]. Revenue Breakdown - Coursera's revenue is derived from three sources: Consumer, Enterprise, and Degrees, with revenue recognized ratably over the contract term[116]. - Total Consumer revenue increased by $11.7 million, or 23%, for the three months ended June 30, 2021, compared to the same period in 2020[136]. - Total Enterprise revenue increased by $11.5 million, or 69%, for the three months ended June 30, 2021, compared to the same period in 2020[137]. - Total Degrees revenue increased by $5.2 million, or 78%, for the three months ended June 30, 2021, compared to the same period in 2020[138]. - Consumer revenue for the six months ended June 30, 2021, was $113.9 million, a 38% increase from $82.6 million in the same period of 2020[185]. - Enterprise revenue for the six months ended June 30, 2021, reached $52.7 million, reflecting a 66% year-over-year growth from $31.7 million[185]. Operating Expenses - Total operating expenses for the three months ended June 30, 2021, were $106.7 million, a 104% increase from $52.4 million for the same period in 2020[147]. - Research and development expenses for the three months ended June 30, 2021, were $41.0 million, a 127% increase from $18.0 million for the same period in 2020[149]. - Sales and marketing expenses for the three months ended June 30, 2021, were $43.9 million, a 73% increase from $25.4 million for the same period in 2020[151]. - General and administrative expenses for the three months ended June 30, 2021, were $21.8 million, a 144% increase from $8.9 million for the same period in 2020[153]. Cash and Liquidity - As of June 30, 2021, the company had cash, cash equivalents, and marketable securities totaling $800.7 million[160]. - The company received cash proceeds of $525.3 million from its IPO in April 2021, net of underwriting discounts and commissions[160]. - The company expects its existing cash and cash equivalents will be sufficient to meet its cash needs for at least the next 12 months[161]. - For the six months ended June 30, 2021, net cash used in operating activities was $9.8 million, compared to net cash provided of $3.8 million for the same period in 2020, reflecting a $13.6 million increase in cash used[167][168]. Growth Strategy - The company anticipates continued investment in growth, expecting operating expenses to increase as it builds sales and marketing efforts and expands its employee base[114]. - Coursera aims to expand its international footprint, particularly in regions with large underserved adult learning populations, as part of its growth strategy[112]. - The shift in revenue mix towards Degrees and Enterprise is expected to improve overall margins, as these segments incur lower content costs compared to Consumer offerings[110]. - Coursera's ability to attract and engage new learners and Enterprise customers is critical for its growth, as these segments contribute significantly to overall revenue[107]. Market and Economic Factors - The company's revenue is primarily denominated in U.S. dollars, minimizing significant foreign currency risk[210]. - Operating expenses are subject to fluctuations due to changes in foreign currency exchange rates, particularly in the Pound Sterling, Canadian Dollar, and Indian Rupee[210]. - A 10% increase or decrease in current exchange rates would have resulted in an impact of $1.7 million on the company's quarterly unaudited condensed consolidated financial statements[210].