Coursera (COUR) Q2 2024 earnings summary

Executive summary

• Achieved 11% year-over-year revenue growth in Q2 2024 to $170.3M, driven by strong demand for generative AI credentials, growth in all business segments, and robust learner additions, reaching 155 million registered users.

• Net loss narrowed to $23.0M from $31.7M in Q2 2023, while non-GAAP net income was $13.8M; gross margin improved to 53–54%.

• Added nearly 7 million new learners, launched a record number of entry-level professional certificates, and expanded partnerships with major tech companies.

• Maintained a strong balance sheet with $709M in cash and no debt, supporting ongoing investment in AI-powered product innovation and strategic flexibility.

• Completed $95M share repurchase program, returning capital to shareholders and addressing dilution concerns.

Financial highlights

• Q2 2024 revenue was $170.3M (up 11% year-over-year); gross profit was $92.3M (54% margin); adjusted EBITDA was $10.4M (6.1% margin); free cash flow was $17.0M.

• Net loss for Q2 2024 was $23.0M, improved from $31.7M in Q2 2023; non-GAAP net income was $13.8M.

• Ended Q2 with $709M in cash and cash equivalents and no debt; repurchased 2.7–3.1M shares for $30.6–$36.7M in Q2, totaling $95M over the past year.

• Stock-based compensation expense was $30.0M in Q2 2024.

• Weighted average share count (diluted) for Q2 2024 was 161 million.

Outlook and guidance

• Q3 2024 revenue expected between $171M and $175M; adjusted EBITDA between break-even and $4M.

• Full-year 2024 revenue guidance reaffirmed at $695M–$705M; adjusted EBITDA guidance at $24M–$28M, targeting a 4% margin.

• Management expects existing cash and cash flow to be sufficient for at least the next 12 months.