NYSE$COUR

Coursera Inc. · Q1 2024 earnings

Q1 2024 earnings · · Investor relations

Briefing

Coursera's first quarter results for 2024 showed revenue growth and increased operating leverage.

Coursera's Q1 2024 earnings report showcased a 15% year-over-year revenue increase, reaching $169.1 million. The company reported net cash provided by operating activities of $24.5 million and a Free Cash Flow of $18.1 million. They also added 7 million new registered learners during the quarter, bringing the total to 148 million.

  • Total revenue increased by 15% year-over-year, reaching $169.1 million.
  • Net loss improved to $(21.3) million, compared to $(32.4) million in the previous year.
  • Free Cash Flow significantly increased to $18.1 million, compared to $0.9 million year-over-year.
  • Added 7 million new registered learners, bringing the total to 148 million.

Headline financials

Total Revenue

$169M

Previous: $148M+14.5%
EPS

-$0.14

Previous: -$0.03-366.7%
Net Retention Rate

94.0%

Previous: 104.0%-9.6%
Total Registered Learners

148.5M

No prior period
Paid Enterprise Customers

1.5K

Previous: 1.3K+18.1%
Capital Expenditures

-$4.2M

No prior period
Free Cash Flow

-$21.3M

Previous: -$32.4M+34.3%
Net Income

-$21.3M

Previous: -$32.4M+34.3%
Operating Income

-$29.7M

Previous: -$39.1M+23.9%
Gross Profit

$89.5M

Previous: $77.5M+15.5%
R&D Expense

$34.6M

No prior period
Stock-Based Comp

$27.9M

Previous: $24.7M+12.6%

Revenue & EPS history

Coursera · Revenue · Quarterly

$169M

Q1 2024+14.5%vs Q1 2023
Beat estimate in 13 of 15 quarters(87%)
ActualEstimate

Revenue by segment

Coursera · $154M total across 2 segments · Q3 2023

  • Consumer
    $99M+26.9%
  • Enterprise
    $54.9M+14.4%

Forward guidance

Coursera provided revenue and Adjusted EBITDA guidance for Q2 2024 and full year 2024.

Tailwinds

  • Second quarter 2024 revenue is expected to be in the range of $162 to $166 million.
  • Second quarter 2024 Adjusted EBITDA is expected to be in the range of $(2) to $2 million.
  • Full year 2024 revenue is expected to be in the range of $695 to $705 million.
  • Full year 2024 Adjusted EBITDA is expected to be in the range of $24 to $28 million.
  • Reaffirming Adjusted EBITDA margin outlook of approximately 4%.

Headwinds

  • Actual results may differ materially from Coursera’s Financial Outlook.
  • Stock-based compensation expense-related charges are impacted by the timing of employee stock transactions.
  • Future fair market value of our common stock is difficult to predict and subject to constant change.
  • Our future hiring and retention needs are difficult to predict and subject to constant change.
  • Uncertainty regarding expenses that may be incurred in the future.

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 2024

Historical avgQ1 2024

+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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