Coursera delivers ten percent Q2 2025 revenue growth and lifts 2025 forecast

Second-quarter results showed higher revenue and stronger free cash flow while net losses narrowed, prompting an updated full-year revenue range.

Coursera has reported second quarter 2025 financial results, posting revenue of $187 million, a 10% increase compared to the same period last year. The company narrowed its net loss to $7.8 million from $22.9 million in Q2 2024 and generated $29 million in free cash flow.

Based on the results, Coursera has raised its full-year revenue outlook by $17 million to a range of $738 million to $746 million.

Revenue growth and improved profitability

Gross profit rose to $102.7 million from $90.2 million a year ago, a 14% increase, while the net loss margin improved to 4.2%, down from 13.4% last year. On a non-GAAP basis, net income reached $19.3 million, a 40% increase, with adjusted EBITDA climbing 73% to $18 million.

CFO Ken Hahn says the quarter reflects stronger operating leverage. “Q2 marked another solid quarter for Coursera. We delivered double-digit revenue growth, demonstrated strong operating leverage, and generated $29 million in Free Cash Flow,” Hahn says. “We are raising our outlook for the full year as we begin to implement new operational capabilities and invest in a focused set of initiatives to reignite durable, long-term growth.”

Expanding user base and enterprise growth

The platform attracted 7.5 million new learners during the quarter, bringing the total number of registered learners to 183 million, up 18% from last year. Paid enterprise customers grew 12% year over year to 1,686. Net retention for paid enterprise customers remained steady at 93%.

CEO Greg Hart says the results highlight the platform’s growing relevance as learners seek emerging technology skills. “Coursera’s market opportunity continues to expand with the global demand to embrace new technology and skills. This quarter, we attracted more than seven million new learners looking to master emerging skills that can advance their careers,” Hart says. “We are executing at a renewed and rapid pace, increasing our revenue growth to 10% year-over-year and making strong early progress in delivering more meaningful customer experiences across our platform. Our second quarter performance marks an important step in laying the foundation for our next chapter of innovation and growth. We are raising our expectations for full year revenue and Adjusted EBITDA, and I am excited to build on this momentum as we move forward.”

Updated guidance

For the third quarter of 2025, Coursera expects revenue between $188 million and $192 million with adjusted EBITDA between $10 million and $14 million. For the full year, the company anticipates an annual adjusted EBITDA margin improvement of 200 basis points, reaching 8%.