Coursera, Inc. Q2 2026 Earnings Recap

Coursera's shares dropped 9.9% following Q2 results as investors were disappointed by a cautious outlook and signs of deceleration despite revenue growth and synergy progress.

Key Takeaways

• Reported Q2 revenue totaled $299 million, buoyed by Udemy acquisition completed in May.
• Paid subscribers rose 44% year-over-year to over 1.6 million, with 85% of revenue now recurring subscription streams.
• Full-year 2026 revenue guidance was raised to $1.22–$1.245 billion, supported by Enterprise and Consumer segments.
• Adjusted EBITDA margin target was increased by 100 basis points to approximately 14% for 2026, reflecting synergy-driven margin improvement and cost discipline.
• Market reaction suggests investor skepticism over the pace of integration benefits and underlying growth sustainability amid a competitive and evolving AI-driven market environment.