Coursera Reports Q2 Earnings: Revenue Up 60%, Raised Guidance Amid Udemy Integration
Coursera reported second-quarter revenue of $299 million for the first quarter as a combined company following its acquisition of Udemy. On an as-reported basis, this represents a 60% year-over-year increase due to the inclusion of Udemy's results; however, normalized revenue declined by 1%. The integration is progressing well, with Coursera raising its annual synergy target from $80 million to at least $85 million by the end of 2026. The company improved profitability metrics significantly. Gross margin reached 62%, and adjusted EBITDA was nearly $43 million for Q2. Full-year revenue guidance for 2026 has been raised to between $1.22 billion and $1.245 billion, with CFO Mike Foley noting that the company expects adjusted EBITDA margins to exceed 16% in Q4 as integration benefits emerge. Coursera is also investing heavily in AI-driven learning initiatives, including a $100 million investment in LearnVector and plans for an AI-native platform rollout by mid-2027. Enterprise revenue grew on both reported (up 118%) and normalized bases (3%), while consumer revenue declined slightly despite a significant increase in paid subscribers.
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Topics: ai_investment ebitda_guidance revenue synergy_target