Coursera,(COUR) - 2024 Q4 - Annual Results

Revenue and Growth - Full year revenue reached $695 million, with a 9% increase from $635.8 million in the prior year[5] - Fourth quarter total revenue was $179.2 million, up 6% from $168.9 million a year ago[6] - Paid Enterprise Customers increased to 1,612, an 18% rise from the previous year, with enterprise revenue up 7% to $62.3 million[13] - First quarter 2025 revenue is projected to be in the range of $173 to $177 million, with Adjusted EBITDA expected between $8 to $12 million[23] - Q4 2024 revenue reached $179.18 million, a 6.7% increase from $168.88 million in Q4 2023[36] - Full year 2024 revenue totaled $694.67 million, up 9.3% from $635.76 million in 2023[36] Profitability - Gross profit for the full year was $371.4 million, representing 53% of revenue, compared to 52% in the prior year[6] - Gross profit for Q4 2024 was $95.51 million, compared to $89.33 million in Q4 2023, reflecting a gross margin improvement[36] - Non-GAAP net income for the full year was $55.6 million, or 8.0% of revenue, a significant increase from $1.8 million or 0.3% in the prior year[6] - Non-GAAP net income for Q4 2024 was $13.3 million, compared to $9.5 million in Q4 2023, reflecting a year-over-year increase of 40.5%[42] - Adjusted EBITDA for the full year was $41.5 million, or 6.0% of revenue, compared to a loss of $(10.0) million in the prior year[6] - Adjusted EBITDA for Q4 2024 was $9.5 million, up from $5.7 million in Q4 2023, indicating a margin increase from 3% to 5%[43] Cash Flow and Financial Position - Free Cash Flow for the full year was $59 million, a significant increase from $7.9 million in the prior year[5] - Cash and cash equivalents increased to $726.13 million as of December 31, 2024, up from $656.32 million a year earlier[38] - Free cash flow for 2024 was $95.36 million, a significant increase from $29.64 million in 2023[40] - Net cash provided by operating activities for the year ended December 31, 2024, was $95.4 million, a substantial increase from $29.6 million in 2023[43] Losses and Expenses - Net loss for Q4 2024 was $21.61 million, slightly higher than the $20.36 million loss in Q4 2023[36] - Adjusted EBITDA for the year was not explicitly stated, but the company reported a loss from operations of $113.22 million for 2024[36] - The company reported a net loss margin of 12% for Q4 2024, consistent with the margin reported in Q4 2023[43] - Stock-based compensation expense for the year ended December 31, 2024, totaled $108.1 million, down from $115.2 million in 2023[43] - The company incurred $6.8 million in restructuring-related charges during Q4 2024, with no such charges reported in Q4 2023[43] Future Outlook - The company plans to provide more detailed full year 2025 outlook in the coming months following the leadership transition[15] - The company anticipates continued investment in product development and market expansion to drive future growth[34] Learner Metrics - The number of registered learners reached 168 million, with an addition of six million new learners in the fourth quarter[13]