EarningsQ2 2026 Earnings Report
MX:COUR Q2 2026 EPS Results
Actual EPS$3.11
Consensus EPS$1.90
Beat/MissBeat by +$1.21
One Year Ago EPS$2.20
MX:COUR Q2 2026 Revenue Results
Actual Revenue$5.46B
Expected Revenue$5.37B
Beat/MissBeat by +$91.38M
YoY Revenue Growth+59.59%
Earnings Announcement Details
QuarterQ2 2026
Date07/29/2026
TimeAfter Close
Conference CallWednesday, July 29, 2026
MX:COUR Upcoming Earnings
Coursera's next earnings date is estimated for October 22, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:COUR Q2 2026 Earnings Call
0:00 / 0:00
Q2 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call emphasized meaningful early benefits from the Coursera–Udemy combination: strong reported revenue growth (driven by the acquisition), significant margin expansion, accelerating synergy realization, rapid subscriber growth, a solid cash position and an explicit AI strategy (including a $100M LearnVector investment). Counterbalancing these positives are normalized revenue softness, pressure in transactional consumer offerings, a modest decline in enterprise NRR amid L&D budget headwinds, and notable one-time integration costs that depressed near-term free cash flow. Management framed results as proof points that the combined company is improving profitability and positioned to accelerate product innovation; the positives around profitability, synergies and platform strategy materially outweigh the operational and timing headwinds discussed.Company Guidance
Combined-company Revenue and Outlook
Reported Q2 revenue of $299 million, up 60% year-over-year (as-reported) following the May 11 Udemy close; normalized Q2 revenue declined 1% year-over-year. Full-year 2026 reported revenue guidance raised and narrowed to $1.22 billion–$1.245 billion.
Subscription Growth and Recurring Revenue Mix
Paid subscribers exceeded ~1.65 million, up 44% year-over-year. More than 85% of total revenue now comes from recurring subscription streams across Enterprise and Consumer segments; Consumer subscription revenue was approximately $122 million, representing >75% of the Consumer segment.
Gross Margin Expansion and Profitability
Q2 gross profit $186 million, up 77% year-over-year; gross margin expanded to 62% (an improvement of ~620 basis points as-reported; ~200 bps on a normalized basis). Q2 adjusted EBITDA was ~$43 million (14.3% of revenue) and net income $40 million (13.5% of revenue).
Improved Adjusted EBITDA Targets
Raised full-year adjusted EBITDA margin target to ~14% (up 100 basis points vs June outlook). Management expects Q4 adjusted EBITDA margin of >16% and cites a path from 8.4% in FY2025 to ~14% in FY2026 (over 550 bps improvement versus 2025).
Synergy Realization and Cost Actions
Expect at least $85 million of annual run-rate net synergies by the end of 2026 (up from $80M in June). Management says they are tracking ahead of prior timelines and on track toward a larger multi-year synergy target (company referenced execution toward $115M and a broader $150M target).
Cash Position and Capital Deployment
Ended the quarter with approximately $982 million of unrestricted cash, cash equivalents and marketable securities and no debt. Repurchased ~$140 million of shares to date under a $500 million authorization (including ~$90M repurchased through June at an average price of $5.45).
Product and AI Initiatives
Accelerating AI-native product work: early unified platform prototype built within 3 weeks of a cross-functional team; role play available in 2,300+ courses with new real-time voice simulations; standalone mobile app 'Ollie' for Coursera Plus; nearly 10,000 GenAI courses across both platforms and GenAI enrollments increasing to >45 enrollments per minute in 2026 (from 25/minute last year).
Strategic Investment in LearnVector
Announced a $100 million strategic investment in Andrew Ng–led LearnVector to accelerate AI-native learning experiences. Coursera owns roughly one-third of LearnVector; investment sits on the balance sheet (not consolidated) and is intended as an accelerant to internal AI initiatives.
Scale and Ecosystem Reach
Combined reach of the platforms: >300 million registered learners, 12,000+ enterprise customers, 100,000+ instructors and 400+ university/industry partners. Added 10 new micro-credentials from top partners and cited strong outcomes in a micro-credential survey (92% of employers saw better performance from micro-credential hires; 87% of graduates secured a role aligned with their field within 12 months).
MX:COUR Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed