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Coursera Q4 2021: $115M Revenue, $47.7M in Losses, 16k Degree Students

In 2021, Coursera’s revenue grew by 41%, with a 30% increase projected for 2022.

Coursera 2021 growth across its three segments: consumer, enterprise, and degrees

Last week, Coursera published their fourth quarterly report and annual report for 2021. 

In Q4 2021, Coursera’s revenue grew to $115M, compared to $83.2M a year prior and $109.9M in Q3 2021. Compared to Q3, losses also jumped to $47.7M from $32.5M.

The company kept its pace, adding 5 million quarterly learners and reaching 97 million learners at the end of 2021.

Coursera Quarterly Revenue: Q1 2019 – Q4 2021

The total number of degree learners stayed the same (around 16k) but degree revenue increased from $11.6 million to $13.3 million.

Coursera Revenue 2021 (in million)
Consumer Enterprise Degrees Total
2021 Q1 51.9 24.5 12 88.4
2021 Q2 62 28.2 11.9 102.1
2021 Q3 66.5 31.8 11.6 109.9
2021 Q4 65.8 35.9 13.3 115

Coursera’s FY 2021 and 2022

Coursera segments growth over the years

In 2021, Coursera’s revenue grew by 41%, but to achieve that growth, its losses more than doubled.

In 2022, Coursera is projecting a revenue growth of 30%, with an expected revenue in the range of $536-544 million.

Coursera: segment growth over the years
2019 2020 2021
Total 184.4 293.5 415.3
Consumer 121 193 246.2
Business 48.2 70.8 120.4
Degrees 15.1 29.9 48.8
Net Loss 46.7 66.8 145.2

According to the investor presentation, Coursera is adding 5 million learners per quarter post-pandemic, compared to 2 million pre-pandemic.

In 2021, the Consumer segment accounted for 60% of the revenue, compared to 65% a year ago. We can already see some signs that Consumer revenue growth might have plateaued to a certain extent.

Udemy, another company that went public last year projected a 0% growth for its Consumer segment in FY 2022.

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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