Filing Flows › Coursera (COUR) › Q4 2025
Coursera (COUR) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 23, 2026
Coursera (COUR) reported revenue of $197M for the fourth quarter 2025 (Q4 2025), +10% from a year earlier and +1% from the quarter before. Operating margin was -16.4%, net loss $26.8M (13.6% of revenue).
Coursera, Q4 2025: revenue $197M (+10% year over year), operating margin -16.4%, net loss $26.8M, operating cash flow $5.8M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $197M | +1% | +10% |
| Operating profit | −$32.3M | — | — |
| Net earnings | −$26.8M | — | — |
| Operating cash flow | $5.8M | -83% | -70% |
| Free cash flow | $5.4M | -84% | -70% |
What changed
Revenue was $196.9M in Q4 2025, up 10% year over year and up 1% from the previous quarter.
Gross margin was 54.2%, up 0.9 points from a year earlier. Operating costs exceeded revenue by $32.3M, an operating margin of -16.4%. Operating expenses grew 10% against revenue growth of 10%. The fastest-growing cost line was General & admin (+43%). The quarter ended with a net loss of $26.8M, wider than the previous quarter's $8.6M loss. Non-operating items added $7.5M, -30% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $5.8M (down 70% year over year). Non-cash charges added back $7.0M of depreciation and amortization and $24.1M of share-based compensation. Working capital and other items added $1.5M. Capital expenditures of $400K left free cash flow of $5.4M.
Questions
What was Coursera's revenue in the fourth quarter 2025?
Coursera (COUR) reported revenue of $197M for the fourth quarter 2025 (Q4 2025), +10% from a year earlier and +1% from the quarter before.
Was Coursera profitable in the fourth quarter 2025?
Operating loss was $32.3M (-16.4% of revenue) and net loss $26.8M.
Source: Coursera 10-K on SEC EDGAR.