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The Business of Online Education: A Deep Dive Into Udemy’s Financials
Discover how Udemy makes money, its different segments, instructor payouts, revenue growth, margins, and more.
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Coursera’s $100 Million Thesis: Andrew Ng Will Think of Something
“Andrew is literally the only person that both Sam Altman and Dario Amodei have worked for. He is going to come up with things that nobody else can come up with.”
“We don’t know exactly what those inventions and innovations will look like yet, but I’m highly confident that he is uniquely positioned to come up with things that we wouldn’t have come up with on our own.”
That’s Greg Hart, Coursera’s CEO, on the July 29 earnings call, the first one since the Udemy merger, explaining why Coursera p
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Coursera Q4 2025: 197M Learners, ~$197M Revenue, ~$27M in Losses
On Feb 5, 2026, Coursera released its Q4 2025 results. It was the first report since announcing the Udemy merger, which Dhawal Shah, Class Central founder, recently analyzed (in 5000+ words!).
Coursera’s stock barely moved after the announcement and is currently at ~$6, down 87% from its opening day price in 2021. Here’s a quick review of its last 2025 quarter.
More Users, Struggling Segments
Coursera’s Q4 revenue was ~$197M, up 10% YoY, but growth has been flat since Q2.
Consumer revenue saw
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70+ FutureLearn Courses with Free Certificates
Scanning FutureLearn’s catalog, we found more than 70 free certificates on business, teaching, health, and more.
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