Abstract
Coursera, Inc. will report fourth-quarter 2025 results on February 05, 2026 Post Market; this preview compiles last quarter’s metrics, current-quarter forecasts, and recent media and analyst perspectives to frame expectations on revenue, margins, and EPS drivers.
Market Forecast
Consensus and company-tracked forecasts point to Coursera, Inc. delivering fourth-quarter revenue of $191.84 million, with a projected adjusted EPS of $0.06 and EBIT of $2.20 million; year over year, revenue is forecast to rise by 8.68% and adjusted EPS by 47.17%. Specific gross margin or net margin guidance for the quarter is not disclosed in aggregated forecasts; the company’s main business mix continues to skew toward Consumer, with expectations for stable gross efficiency given last quarter’s 54.58% gross margin. Coursera, Inc.’s main business is expected to benefit from diversified content breadth and enterprise expansion, while the consumer segment remains the largest with resilient monetization. The highest-potential segment remains Enterprise, supported by ongoing seat expansion and pipeline conversion; last quarter, Consumer revenue was $130.30 million and Enterprise revenue was $63.90 million.
Last Quarter Review
Coursera, Inc.’s previous quarter delivered revenue of $194.20 million, a gross profit margin of 54.58%, a GAAP net loss attributable to shareholders of $8.60 million, a net margin of -4.43%, and adjusted EPS of $0.10, with revenue rising 10.29% year over year and adjusted EPS beating estimates. Operating execution outperformed expectations as EBIT reached $9.70 million compared with a $6.14 million estimate, evidencing operating leverage amid steady learner demand. Segment performance showed Consumer revenue of $130.30 million and Enterprise revenue of $63.90 million, underscoring healthy mix and recurring contract momentum.
Current Quarter Outlook (with major analytical insights)
Main business momentum and revenue quality
Coursera, Inc.’s core revenue drivers center on its Consumer learning marketplace and Enterprise solutions, which together form a balanced growth engine. The current-quarter forecast of $191.84 million implies typical seasonal softness from the back-to-school peak yet a firm 8.68% year-over-year expansion, suggesting retention and conversion remain intact. Given last quarter’s gross margin of 54.58%, investors will focus on whether content amortization and instructor-partner economics sustain mid-50s gross profitability while marketing ROI preserves unit economics. Management’s ongoing discipline around paid acquisition and lifecycle engagement could help maintain revenue quality even as top-line growth moderates, keeping customer acquisition cost paybacks within targeted ranges.
Enterprise expansion and the largest growth opportunity
The Enterprise segment remains the most promising growth pillar, with last quarter revenue of $63.90 million reflecting healthy adoption among large organizations and public sector clients. The quarter’s pipeline conversion will hinge on renewal rates, upsells tied to role-based academies, and cross-sell into workforce reskilling programs. Macro conditions remain a mixed factor, yet skills-based learning investment has shown persistence in procurement cycles as employers align training with measurable outcomes. If net retention trends remain stable and multi-year deals widen seat counts, the Enterprise trajectory can offset consumer seasonality and support multi-quarter operating leverage. Attention will fall on logo additions, contract wins in regulated industries, and any commentary on federal and international public-sector opportunities.
Profit drivers, margin outlook, and EPS sensitivity
With a forecast adjusted EPS of $0.06 and EBIT of $2.20 million, the earnings algorithm relies on maintaining gross margin efficiency and controlling go-to-market and R&D expenditure growth. Key swing factors include partner content cost dynamics, pricing mix between certificate programs and general courses, and marketing efficiency amid year-end promotional activity. If revenue mix tilts toward Enterprise subscriptions and high-certification pathways, gross margin could remain resilient even as growth investments continue. Conversely, a heavier Consumer promotional stance could weigh on near-term margin, though it may strengthen cohort performance into the first half. Given prior-quarter upside on EBIT, the market will scrutinize opex cadence and potential operating leverage in customer success and platform infrastructure.
Cash conversion, bookings, and seasonality considerations
Investors will also watch bookings growth, deferred revenue movements, and free cash flow conversion as indicators of demand durability. Seasonal patterns around year-end typically normalize from the back-to-school lift, and comparisons are complicated by the timing of enterprise renewals and public-sector awards. Stable billings expansion combined with disciplined capital allocation could underpin cash generation trends; any acceleration in annual prepayments or multi-year commitments would amplify visibility for 2026. Clarity around the cadence of university partner agreements and certificate launches will further inform backlog and content ROI.
Product and ecosystem signals
The content roadmap, including industry micro-credentials and degree-aligned certificates, remains central to sustaining competitive differentiation. Learner engagement metrics—active learners, completion rates, and certificate attainment—will contextualize the revenue mix and pricing power dynamics. Platform enhancements around assessments, gen-AI-enabled learning aids, and role-based pathways can deepen enterprise penetration and mitigate churn. The interplay between consumer demand for career outcomes and enterprise needs for measurable skills validation supports a diversified growth base through economic cycles.
Analyst Opinions
Across recent institutional commentary, the prevailing stance is positive, with a majority of analysts expecting Coursera, Inc. to post in-line to modestly better-than-expected revenue and stable to slightly improved profitability metrics. Supportive views emphasize the durability of Enterprise pipeline activity and the scalability of the platform’s content partnerships, noting the last quarter’s EBIT outperformance and adjusted EPS beat as signs of operational discipline. Several well-known firms highlight recurring characteristics in enterprise learning budgets and the expanding role of professional certificates in driving higher-value subscriptions, framing the quarter’s 8.68% revenue growth forecast and $0.06 EPS projection as achievable. The constructive outlook also points to potential upside if net retention trends hold and contract expansions land before quarter-end, while acknowledging that consumer promotions and macro procurement timing remain watch items. Overall, the balance of opinions leans bullish, anticipating that Coursera, Inc. can maintain mid-50s gross efficiency and extend operating leverage as Enterprise scales.Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
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