Coursera (COUR) Q4 2024 earnings summary

Executive summary

• Full year 2024 revenue reached $695 million, up 9% year-over-year, with significant growth across Consumer, Enterprise, and Degrees segments.

• Achieved first full year of positive Adjusted EBITDA ($41.5 million, 6% margin) and generated $59.3 million in Free Cash Flow.

• Registered learners reached 168 million by year-end, with over 6 million new learners added in Q4 2024.

• Leadership transition announced: Greg Hart to become CEO effective February 3, 2025, succeeding Jeff Maggioncalda.

• AI-driven innovation, content expansion, and operational excellence highlighted as key growth drivers.

Financial highlights

• Q4 2024 revenue was $179 million, up 6% year-over-year; full-year revenue was $695 million, up 9%.

• Q4 gross profit was $97.5 million (54% margin); full-year gross profit was $379.6 million (55% margin, up from 53%).

• Q4 net income was $13.3 million (7.4% of revenue); full-year non-GAAP net income was $55.6 million (8% of revenue).

• Q4 Adjusted EBITDA was $9.5 million (5.3% margin); full-year Adjusted EBITDA was $41.5 million (6% margin, up from -1.6% in 2023).

• Free Cash Flow for 2024 was $59.3 million; year-end cash and equivalents totaled $726 million with no debt.

Outlook and guidance

• Q1 2025 revenue guidance: $173–$177 million (2–5% year-over-year growth); Adjusted EBITDA expected between $8–$12 million.

• Full year 2025 expected to show overall top-line growth, led by Consumer and Enterprise segments; Degrees segment revenue anticipated to decline.

• Committed to continued annual Adjusted EBITDA margin expansion, though at a moderated pace to allow for growth investments.

• More detailed 2025 outlook to be provided following leadership transition.