Coursera, Inc. (NYSE: COUR) has reported its financial results for the fourth quarter and full year ending December 31, 2024. The company delivered full-year revenue of $695 million, representing a 9% increase from the prior year's $635.8 million. In the fourth quarter of 2024, total revenue was $179.2 million, up 6% from $168.9 million a year ago.
For the full year 2024, Coursera reported a gross profit of $371.4 million, or 53% of revenue, compared to $329.8 million, or 52% of revenue, in the prior year. Non-GAAP gross profit was $379.6 million, or 55% of revenue, compared to $337.5 million, or 53% of revenue, in the prior year.
The company reported a net loss of $(79.5) million for the full year 2024, representing an improvement from the $(116.6) million loss in the prior year. Additionally, non-GAAP net income for the full year was $55.6 million, or 8.0% of revenue, compared to $1.8 million, or 0.3% of revenue, in the prior year.
Adjusted EBITDA for the full year 2024 was $41.5 million, or 6.0% of revenue, showing significant improvement from the $(10.0) million, or (1.6)% of revenue, reported in the prior year.
Coursera's net cash provided by operating activities for the full year 2024 was $95.4 million, compared to $29.6 million in the prior year. Free cash flow for the same period was $59.3 million, compared to $7.9 million in the prior year.
In the fourth quarter of 2024, the company reported a net loss of $(21.6) million, compared to $(20.4) million a year ago. Non-GAAP net income for the same period was $13.3 million, or 7.4% of revenue, compared to $9.5 million, or 5.6% of revenue, a year ago.
Adjusted EBITDA for the fourth quarter of 2024 was $9.5 million, or 5.3% of revenue, compared to $5.7 million, or 3.4% of revenue, a year ago. Net cash provided by operating activities was $19.2 million for the fourth quarter, compared to $11.6 million a year ago. Free cash flow for the same period was $7.4 million, compared to $5.7 million a year ago.
These results reflect Coursera's efforts to drive sustainable growth and demonstrate strong financial and operating leverage in its business model, as noted by Ken Hahn, Coursera's CFO. The company's CEO, Jeff Maggioncalda, highlighted the significant strides made in expanding the content catalog and launching new courses to meet the needs of learners and customers. Moreover, Coursera announced the appointment of Greg Hart as president and CEO, effective February 3, 2025. Following these announcements, the company's shares moved -10.9%, and are now trading at a price of $8.54. If you want to know more, read the company's complete 8-K report here.