NYSE$COUR

Coursera Inc. · Q1 2023 earnings

Q1 2023 earnings · · Investor relations

Briefing

Coursera's first quarter 2023 financial results showed revenue growth and progress in the Degrees segment.

Coursera's Q1 2023 results showcased a 23% year-over-year revenue increase, driven by strong performance in the Consumer and Enterprise segments, and the company announced ten new degree programs.

  • Total revenue was $147.6 million, up 23% year-over-year.
  • Consumer revenue increased by 20% year-over-year, driven by strong entry-level Professional Certificate performance.
  • Enterprise revenue grew by 34% year-over-year, with growth in all segment verticals.
  • Ten new degree programs were announced, priced affordably under $20,000.

Headline financials

Total Revenue

$148M

Previous: $120M+22.6%
EPS (adj)

-$0.03

Previous: -$0.11+72.7%
Net Retention Rate

104.0%

Previous: 109.0%-4.6%
Paid Enterprise Customers

1.3K

Previous: 917+36.6%
Free Cash Flow

-$32.4M

Previous: -$38.3M+15.4%
Net Income

-$32.4M

Previous: -$38.3M+15.4%
Operating Income

-$39.1M

Previous: -$37.2M-5.1%
Gross Profit

$77.5M

Previous: $77.6M-0.2%
Cash & Equivalents

$268M

Previous: $361M-25.9%
Total Assets

$964M

Previous: $947M+1.8%
Stock-Based Comp

$24.7M

Previous: $22M+12.6%

Revenue & EPS history

Coursera · Revenue · Quarterly

$148M

Q1 2023+22.6%vs Q1 2022
Beat estimate in 13 of 15 quarters(87%)
ActualEstimate

Revenue by segment

Coursera · $134M total across 2 segments · Q1 2023

  • Consumer
    $82M+20.4%
  • Enterprise
    $52.2M+33.8%

Forward guidance

Coursera provided revenue and Adjusted EBITDA guidance for the second quarter and full year 2023.

Tailwinds

  • Second quarter 2023 revenue is expected to be in the range of $143 to $147 million.
  • Second quarter 2023 Adjusted EBITDA is expected to be in the range of $(13) to $(16) million.
  • Full year 2023 revenue is expected to be in the range of $600 to $610 million.
  • Full year 2023 Adjusted EBITDA is expected to be in the range of $(26) to $(34) million.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q1 2023

Historical avgQ1 2023

+0.9%

Avg return

Earnings day

-0.7%

Avg return

5 days after

-3.6%

Avg return

30 days after

39%

9 / 23 earnings

Positive

+48.5%

Q2 2024

Best reaction

-14.7%

Q4 2022

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-11.6%+2.3%-10.9%
Q4 2025-1.2%-4.0%+3.0%
Q3 2025-12.6%-20.0%-23.2%
Q2 2025+0.2%-4.5%-7.7%
Q1 2025+13.6%+9.4%+10.0%
Q4 2024-8.9%-9.2%-6.4%
Q3 2024-8.1%-5.2%-5.1%
Q2 2024+48.5%+32.1%+15.8%
Q1 2024-14.6%-19.7%-35.8%
Q4 2023-4.9%-7.3%-16.8%
Q3 2023-0.6%+0.2%+13.4%
Q2 2023+15.0%+18.4%+26.9%
Q1 2023+21.8%+10.6%+21.8%
Q4 2022-14.7%-4.8%-28.0%
Q3 2022+4.5%+4.4%+11.4%
Q2 2022-12.2%-8.8%-23.1%
Q1 2022-2.5%-5.0%-16.3%
Q4 2021-11.3%-6.1%-20.8%
Q3 2021-13.0%-9.7%-22.4%
Q2 2021+19.9%+10.9%+8.8%
Q2 2020+19.9%+10.9%+8.8%
Q4 2020+1.2%+9.5%+26.9%
Q1 2021-8.9%-21.6%-14.1%

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