Revenue: As of FY2026 Q2, the actual value is USD 298.6 M, beating the estimate of USD 293.61 M.

EPS: As of FY2026 Q2, the actual value is USD -0.34, missing the estimate of USD -0.102.

EBIT: As of FY2026 Q2, the actual value is USD -78.3 M.

Financial Performance (Three Months Ended June 30, 2026)

Operational Metrics (GAAP)

• Gross Profit: Coursera, Inc.’s GAAP gross profit for Q2 2026 was $173.4 million, a 69% increase from $102.7 million in Q2 2025. This represented 58.1% of revenue, an increase of 320 basis points from the prior year.
• Net Loss: The company reported a GAAP net loss of -$80.4 million in Q2 2026, compared to a net loss of -$7.8 million in Q2 2025, representing a -931% change year-over-year.
• Net Loss Margin: The GAAP net loss margin was -26.9% in Q2 2026, a -2270 basis point change from -4.2% in Q2 2025.

Operational Metrics (Non-GAAP)

• Non-GAAP Gross Profit: Non-GAAP gross profit was $185.8 million in Q2 2026, a 77% increase from $104.7 million in Q2 2025. This represented 62.2% of revenue, up 620 basis points year-over-year.
• Non-GAAP Net Income: Non-GAAP net income reached $40.4 million in Q2 2026, increasing 109% from $19.3 million in Q2 2025, and representing 13.5% of revenue.
• Adjusted EBITDA: Adjusted EBITDA for Q2 2026 was $42.7 million, a 137% increase from $18.0 million in Q2 2025.
• Adjusted EBITDA Margin: The Adjusted EBITDA margin was 14.3% in Q2 2026, up 470 basis points from 9.6% in Q2 2025.

Operating Expenses

• GAAP operating expenses totaled $258.1 million, or 86.4% of revenue, including $79.8 million in merger, integration, and restructuring related costs.
• Non-GAAP operating expenses were $149.7 million, or 50.1% of revenue.

Segment Revenue and Operational Metrics

• Enterprise Revenue: Enterprise revenue was $140.0 million in Q2 2026, an increase of 118% from $64.3 million in Q2 2025.
• Enterprise Gross Profit: Enterprise gross profit was $111.0 million in Q2 2026, up 148% from $44.8 million in Q2 2025, with a gross profit margin of 79.3%, an increase of 960 basis points from Q2 2025.
• Consumer Revenue: Consumer revenue was $158.6 million in Q2 2026, a 29% increase from $122.8 million in Q2 2025.
• Consumer Gross Profit: Consumer gross profit was $103.2 million in Q2 2026, up 37% from $75.3 million in Q2 2025, with a gross profit margin of 65.1%, an increase of 380 basis points from Q2 2025.
• Subscription Revenue (Consumer): Subscription revenue within the Consumer segment was $121.7 million, up 19% year-over-year.

Cash Flow

• Net Cash (Used in) Provided by Operating Activities: Net cash used in operating activities was -$19.8 million in Q2 2026, compared to $35.5 million provided by operating activities in Q2 2025, representing a -156% change year-over-year.
• Free Cash Flow: Free cash flow was -$32.6 million in Q2 2026, compared to $28.6 million in Q2 2025, a -214% change year-over-year.
• These cash flow figures include $39.1 million in cash payments for merger and integration-related costs and $18.1 million for merger-related personnel and severance costs. Excluding these payments, Free Cash Flow would have been approximately $25 million.

Balance Sheet & Capital Allocation

• As of June 30, 2026, Coursera, Inc. held approximately $982 million in unrestricted cash, cash equivalents, and marketable securities, with no debt.
• Coursera, Inc. repurchased $90 million of shares in Q2 2026 and more than $140 million cumulatively through July 28, 2026, under its $500 million share repurchase authorization.

Unique Metrics

• Equity Investment: Coursera, Inc. completed a $100.0 million equity investment in LearnVector Inc., representing a 33.33% ownership interest on a fully diluted basis.
• Annual Run-Rate Net Synergies: Coursera, Inc. expects to achieve at least $85 million of annual run-rate net synergies by the end of 2026.
• Net Retention Rate for Enterprise Customers: This rate was 91% for Q2 2026, down from 95% for Q2 2025, and a decrease of -380 basis points quarter-over-quarter.
• Enterprise Customers: The number of Enterprise Customers was 12,107 as of June 30, 2026, a -2% change from 12,325 as of June 30, 2025.
• Paid Subscribers: Paid Subscribers reached 1,655 thousand as of June 30, 2026, a 44% increase from 1,152 thousand as of June 30, 2025.
• Recurring Subscription Offerings: More than 85% of total revenue is now derived from recurring subscription offerings across both Enterprise and Consumer segments.
• Operational Reach: Following its combination with Udemy, Coursera, Inc.’s platforms, in conjunction with Udemy, now reach over 300 million learners worldwide and serve 12,000 enterprise customers globally.

Financial Outlook

For the third quarter of 2026, Coursera, Inc. expects revenue in the range of $364 million to $372 million and Adjusted EBITDA in the range of $52 million to $56 million. For the full year 2026, the company increased its revenue outlook to a range of $1.220 billion to $1.245 billion and raised its Adjusted EBITDA Margin target to approximately 14%. The company anticipates achieving at least $85 million of annual run-rate net synergies by the end of 2026 and expects to deliver the full $115 million annual run-rate net synergy target before the end of 2027.