Filing Flows › Coursera (COUR) › Q3 2026 › vs Q3 2025
Coursera (COUR) Q3 2026 vs Q3 2025 (year over year)
Coursera's revenue rose $182M (+94%) from $194M in Q3 2025 to $377M in Q3 2026. The biggest changes: Enterprise +$137M (+214%); Consumer +$45.5M (+35%).
Coursera, Q3 2026: revenue $377M (+94% year over year), operating margin -7.7%, net loss $25.6M, operating cash flow $15.5M. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Free cash flow margin | 1.2% | 13.7% | -12.5 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Enterprise | $201M | $63.9M | $137M | +214% |
| Consumer | $176M | $130M | $45.5M | +35% |
| Revenue | $377M | $194M | $182M | +94% |
| Other income, net | $5.9M | $7.8M | −$1.9M | -24% |
| Net loss | $25.6M | $8.6M | $17.0M | +198% |
| Costs & expenses | $408M | $211M | $198M | +94% |
| Operating costs | $406M | $210M | $196M | +93% |
| Income tax | $2.6M | $800K | $1.8M | +225% |
| Cost of revenue | $157M | $88.2M | $68.4M | +78% |
| Research & development | $52.1M | $30.0M | $22.1M | +74% |
| Sales & marketing | $130M | $67.4M | $62.1M | +92% |
| General & admin | $36.6M | $24.2M | $12.4M | +51% |
| Operating cash sources | $57.7M | $30.3M | $27.4M | +90% |
| Depreciation & amortization | $34.6M | $7.3M | $27.3M | +374% |
| Share-based compensation | $23.1M | $23.0M | $100K | +0.4% |
| Net loss absorbed | $25.6M | $8.6M | $17.0M | +198% |
| Working capital & other | $16.6M | −$12.2M | $28.8M | — |
| Operating cash flow | $15.5M | $33.9M | −$18.4M | -54% |
| Free Cash Flow (company-reported) | $4.6M | $26.6M | −$22.0M | -83% |
| Capitalized internal-use software costs | $7.8M | $5.0M | $2.8M | +56% |
| Purchases of content assets | $2.8M | $2.1M | $700K | +33% |
| Purchases of property, equipment, and software | $300K | $200K | $100K | +50% |
Questions
How much did Coursera's revenue grow year over year in Q3 2026?
Coursera's revenue rose $182M (+94%) from $194M in Q3 2025 to $377M in Q3 2026.
What drove Coursera's revenue change in Q3 2026?
Enterprise +$137M (+214%); Consumer +$45.5M (+35%).