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Coursera Q2 2021: $102.1M Revenue, $46.4M in Losses, 14.6K Degree Students

Coursera shared its second quarterly report since going public. Here are some key numbers.

Coursera Q2

Yesterday, Coursera published its second quarterly report of the year (the Form 8-K), giving a glimpse into the company finances for Q2 2021. Compared to Q1 2021, revenue grew from $88.4 million to $102.1 million.

In their Q1 report, Coursera expected their Q2 revenue to be in the $89–93 million range. For Q3, they predict revenue in the $105–109 million range.

Coursera Q2 Revenue Growth

But the revenue gain came at a much bigger loss. In Q2 2021, Coursera lost $46.4 million, compared to $18.7 million in Q1 2021 and $13.9 million in Q2 2020.

The majority of the revenue increase over Q1 2021 came from its consumer segment, which grew from $51.9 million to $62.0 million. In the same interval, the enterprise segment grew from $24.5 million to $28.2 million.

Coursera Q2 2020 vs 2021 stats
Q2 2020 Q1 2021 Q2 2021
Revenues $73.4m $88.4m $102.1m
Consumer $50.4m $51.9m $62.0m
Enterprise $16.6m $24.5m $28.2m
Degrees $6.68m $12.1m $11.9m
Losses $(13.9)m $(18.7)m $(46.4)m

Another interesting thing Class Central noticed is that, though the number of students enrolled in Coursera’s degrees increased from 13,493 to 14,630 between Q1 and Q2 2021, their degree segment revenue decreased from $12.1 million to $11.9 million.

Put differently, Coursera’s revenue per degree student has decreased. Coursera has over 30 online degrees on its platform, but no new degrees were announced in Q2 2021.

Below is an overview of how Coursera’s degrees have performed over the years (from their S-1).

Coursera online degrees
No. of Degrees Revenue Students
2016 2
2017 4 $2.5m
2018 12 $7.4m
2019 16 $15.1m 6,217
2020 26 $29.9m 11,900
Dhawal Shah Profile Image

Dhawal Shah

Dhawal is the CEO of Class Central, the most popular search engine and review site for online courses and MOOCs. He has completed over a dozen MOOCs and has written over 200 articles about the MOOC space, including contributions to TechCrunch, EdSurge, Quartz, and VentureBeat.

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