Filing Flows › Coursera (COUR) › Q2 2025
Coursera (COUR) Q2 2025 earnings results (second quarter 2025)
10-Q filed Jul 31, 2025
Coursera (COUR) reported revenue of $187M for the second quarter 2025 (Q2 2025), +10% from a year earlier and +4% from the quarter before. Operating margin was -8.1%, net loss $7.8M (4.2% of revenue).
Coursera, Q2 2025: revenue $187M (+10% year over year), operating margin -8.1%, net loss $7.8M, operating cash flow $35.5M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $187M | +4% | +10% |
| Operating profit | −$15.1M | — | — |
| Net earnings | −$7.8M | — | — |
| Operating cash flow | $35.5M | +6% | +49% |
| Free cash flow | $28.6M | — | +69% |
What changed
Revenue was $187.1M in Q2 2025, up 10% year over year and up 4% from the previous quarter.
Gross margin was 54.9%, up 1.9 points from a year earlier. Operating costs exceeded revenue by $15.1M, an operating margin of -8.1%. Operating expenses fell 3% while revenue rose 10%. The quarter ended with a net loss of $7.8M, wider than the previous quarter's $7.8M loss. Non-operating items added $8.1M, -116% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $35.5M (up 49% year over year). Non-cash charges added back $7.4M of depreciation and amortization and $23.8M of share-based compensation. Working capital and other items added $12.1M. After capitalized internal-use software costs ($4.7M) and purchases of content assets ($1.8M) and purchases of property, equipment, and software ($400K), free cash flow as the company reports it was $28.6M.
Questions
What was Coursera's revenue in the second quarter 2025?
Coursera (COUR) reported revenue of $187M for the second quarter 2025 (Q2 2025), +10% from a year earlier and +4% from the quarter before.
Was Coursera profitable in the second quarter 2025?
Operating loss was $15.1M (-8.1% of revenue) and net loss $7.8M.
Source: Coursera 10-Q on SEC EDGAR.