Coursera,(US:COUR)2022-05-05 16:00Learner 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].