Filing Flows › Coursera (COUR) › Q3 2025
Coursera (COUR) Q3 2025 earnings results (third quarter 2025)
10-Q filed Oct 31, 2025
Coursera (COUR) reported revenue of $194M for the third quarter 2025 (Q3 2025), +10% from a year earlier and +4% from the quarter before. Operating margin was -8.0%, net loss $8.6M (4.4% of revenue).
Coursera, Q3 2025: revenue $194M (+10% year over year), operating margin -8.0%, net loss $8.6M, operating cash flow $33.9M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $194M | +4% | +10% |
| Operating profit | −$15.6M | — | — |
| Net earnings | −$8.6M | — | — |
| Operating cash flow | $33.9M | -5% | +22% |
| Free cash flow | $26.6M | — | — |
What changed
Revenue was $194.2M in Q3 2025, up 10% year over year and up 4% from the previous quarter.
Gross margin was 54.6%, unchanged from a year earlier. Operating costs exceeded revenue by $15.6M, an operating margin of -8.0%. Operating expenses grew 3% against revenue growth of 10%. The fastest-growing cost line was Sales & marketing (+14%). The quarter ended with a net loss of $8.6M, wider than the previous quarter's $7.8M loss. Non-operating items added $7.8M, -100% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $33.9M (up 22% year over year). Non-cash charges added back $7.3M of depreciation and amortization and $23.0M of share-based compensation. Working capital and other items added $12.2M. After capitalized internal-use software costs ($5.0M) and purchases of content assets ($2.1M) and purchases of property, equipment, and software ($200K), free cash flow as the company reports it was $26.6M.
Questions
What was Coursera's revenue in the third quarter 2025?
Coursera (COUR) reported revenue of $194M for the third quarter 2025 (Q3 2025), +10% from a year earlier and +4% from the quarter before.
Was Coursera profitable in the third quarter 2025?
Operating loss was $15.6M (-8.0% of revenue) and net loss $8.6M.
Source: Coursera 10-Q on SEC EDGAR.