Key Highlights

  • Revenue rose 60% YoY to $298.6 million, including Udemy Merger contribution.
  • Net loss widened to $80.4 million from $7.8 million a year earlier.
  • Full-year 2026 Revenue guidance raised to $1.220-$1.245 billion.
  • Shares closed at $4.97, down $0.10, or 2%, at Tuesday's close.

Coursera, Inc. (NYSE:COUR)'s second quarter combined sharply higher revenue following its merger with Udemy with a wider GAAP net loss, driven in part by merger, integration and restructuring costs. Chief Executive Greg Hart said the quarter marked an important milestone in the company's next chapter of value creation, as it closed the Udemy transaction and began operating as a combined company.

COUR is a global online learning platform operating Enterprise and Consumer segments. Total revenue of $298.6 million included $103.8 million relating to the Udemy merger. Enterprise revenue rose 118% to $140.0 million, while Consumer revenue rose 29% to $158.6 million.

The company said it announced a $100 million strategic Investment in LearnVector, a newly formed AI-native learning company founded by Andrew Ng, designed to accelerate Coursera's AI strategy and product innovation.

Second quarter 2026 compared with the prior-year quarter

Gross profit was $173.4 million, against $102.7 million; non-GAAP Gross Profit was $185.8 million, against $104.7 million. Net loss was $80.4 million, against $7.8 million, which the company said included $79.8 million of merger, integration and restructuring-related costs. Non-GAAP Net Income was $40.4 million, against $19.3 million.

Adjusted EBITDA was $42.7 million, against $18.0 million, an adjusted EBITDA Margin of 14.3%, up 470 basis points. Net cash used in Operating Activities was $19.8 million, against $35.5 million provided a year earlier, which the company said included $39.1 million of cash merger and integration costs and $18.1 million of merger-related personnel and severance costs. Free Cash Flow was negative $32.6 million, against positive $28.6 million.

The company said it repurchased $90 million of shares during the quarter, and more than $140 million to date under its $500 million share repurchase authorization.

Management outlook and stated risks

Management increased its full-year 2026 revenue outlook to a range of $1.220 billion to $1.245 billion. The company said it now expects to achieve at least $85 million of annual run-rate net synergies by the end of 2026, reflecting accelerated integration execution.

Management said it expects third-quarter 2026 revenue of $364 million to $372 million.

The Bottom Line

Management tied its near-term plans to completing Udemy integration work and deploying its $100 million strategic investment in LearnVector to accelerate its AI strategy and product innovation. The company said it will continue to evaluate share repurchases under its $500 million authorization, of which more than $140 million had been used as of its report.