Coursera Reports $694.7 Million Revenue for Fiscal Year 2024, 9% Increase

Coursera, Inc. reported a revenue of $694.7 million for the fiscal year ending December 31, 2024, marking a 9% increase from $635.8 million in the previous year. The growth was primarily driven by a 19% rise in the average total number of registered learners, which reached approximately 168 million, and an 18% increase in the average number of Paid Enterprise Customers. However, the company also noted challenges, including lower retention rates among learners and customers, which impacted overall revenue growth.

The company's net loss for 2024 was $79.5 million, a decrease from a loss of $116.6 million in 2023. This improvement was attributed to a combination of increased revenue and a reduction in operating expenses, which rose only slightly to $484.6 million from $475.4 million the previous year. Notably, research and development expenses decreased by 18%, reflecting a strategic shift in resource allocation. The gross profit margin improved to 53%, up from 52% in 2023, due to lower content costs as a percentage of revenue.

In terms of strategic developments, Coursera has been focusing on restructuring its operations to enhance efficiency and profitability. The company announced a commitment to reduce overall expenses, which is expected to generate at least $30 million in annualized savings. This initiative included a global workforce reduction of approximately 9%. Additionally, Coursera is prioritizing investments in its Consumer and Enterprise segments while becoming more selective in pursuing Degrees partnerships, anticipating a decline in revenue from that segment in 2025.

Operationally, Coursera's engagement metrics showed positive trends, with learners logging approximately 49.5 million course enrollments and completing 98.2 million assessments in 2024, both reflecting a 9% to 10% increase compared to the previous year. The company also expanded its catalog, adding nearly 40 new entry-level Professional Certificates from partners like Google and IBM, which contributed to a 10% increase in Professional Certificate enrollments. Geographically, 47% of revenue came from international learners, indicating a strong global presence.

Looking ahead, Coursera's management expressed optimism about the long-term growth potential of the online learning market, driven by the increasing demand for upskilling and reskilling in a rapidly evolving digital economy. However, they acknowledged the need to navigate challenges such as fluctuating learner retention rates and the competitive landscape. The company plans to continue investing in its platform and expanding its offerings to meet the needs of learners and organizations worldwide.