Coursera, an online education technology company, delivered robust results for the second quarter on Tuesday as it said online learning growth will continue beyond the COVID-19 pandemic.<\/p>\n\n\n\n
The Company reported revenue of $102.1 million for the second quarter, along with a non-GAAP gross profit of $61.8 million and non-GAAP EPS of -$0.05, above Wall Street estimates of a -$0.11 EPS and revenue estimates of $91.53 million.<\/p>\n\n\n\n
Coursera’s consumer sales totaled $62 million in the second quarter as the company added 5 million new registered learners during the quarter, totaling $87 million. Company revenues for the second quarter were $28.2 million, an increase of 69% over 2020.<\/p>\n\n\n\n
The company increased the total number of paying corporate customers by 584, an increase of 109% compared to the previous year.<\/p>\n\n\n\n
For the third quarter, the company forecasts revenues between $105 million and $109 million, while Coursera forecasts revenues between $402 million and $410 million for the full fiscal year 2021.<\/p>\n\n\n\n
Coursera began its first day of trading in March, and the company’s shares opened at $39 apiece, rising 18%, pushing Coursera’s market capitalization to over $5 billion. The IPO was valued at a total of 15.7 million shares at $33 per share, which would have earned the business about $484 million.<\/p>\n\n\n\n
Coursera’s prospectus for 2020 showed a turnover of $293 million, an increase of 59% compared to the previous year, with net losses of $66.8 million. The company stated that its total number of registered users had increased by 65% to over 77 million in 2020.<\/p>\n\n\n\n
Coursera CEO Jeff Maggioncalda said the second quarter results illustrate “the growing adoption and impact” of the Coursera platform.<\/p>\n\n\n