Coursera, Inc. (Cour): Modelo de Negócios Canvas [Jan-2025 Atualizado]

No cenário em rápida evolução da educação digital, a Coursera é uma plataforma transformadora que preenche a lacuna entre alunos e conhecimento acadêmico de classe mundial. Ao alavancar um modelo de negócios sofisticado que conecta universidades, profissionais e alunos ansiosos em todo o mundo, a Coursera revolucionou como os indivíduos adquirem habilidades e credenciais no século XXI. De estudantes universitários que buscam alternativas de aprendizado acessíveis a profissionais que buscam avanço na carreira, esta plataforma inovadora oferece um ecossistema abrangente que democratiza a educação por meio de soluções de aprendizado flexíveis e orientadas por tecnologia.

Coursera, Inc. (Cour) - Modelo de Negócios: Principais Parcerias

Universidades e instituições acadêmicas em todo o mundo

Em 2024, a Coursera faz parceria com 275 universidades e instituições em todo o mundo, incluindo:

Região	Número de instituições parceiras
Estados Unidos	180
Europa	45
Ásia-Pacífico	35
América latina	15

Criadores e instrutores de conteúdo

A Coursera colabora com mais de 5.400 instrutores especialistas das principais instituições.

• Classificação média do instrutor: 4.7/5
• Instrutores de mais de 190 países
• Mais de 60% dos instrutores das 100 melhores universidades globais

Parceiros de tecnologia

Parceiro de tecnologia	Colaboração específica
Amazon Web Services	Hospedagem de infraestrutura em nuvem
Google Cloud	Aprendizado de máquina e integração de IA
Microsoft Azure	Soluções de aprendizado corporativo

Clientes corporativos e corporativos

Base de clientes corporativos: mais de 2.100 organizações

• Fortune 500 Empresas: 50%
• Receita anual da empresa: US $ 270,4 milhões (2023)
• Valor médio do contrato corporativo: US $ 95.000

Organizações de certificação profissional

Parceiro de certificação	Número de certificações
Google	8 certificados profissionais
IBM	6 certificados profissionais
Meta	4 certificados profissionais

Coursera, Inc. (Cour) - Modelo de Negócios: Atividades -chave

Curso online e desenvolvimento de conteúdo

A partir do quarto trimestre de 2023, a Coursera organizou 6.300 cursos ativos de 275 parceiros universitários e do setor. A plataforma desenvolveu 2.200 novos cursos em 2023, com conteúdo abrangendo 19 categorias de assuntos diferentes.

Métrica de conteúdo	2023 dados
Total de cursos ativos	6,300
Parceiros da Universidade	275
Novos cursos desenvolvidos	2,200

Manutenção da tecnologia da plataforma

A Coursera investiu US $ 103,5 milhões em despesas de tecnologia e desenvolvimento em 2023. A plataforma suporta 77 milhões de alunos registrados em 220 países e territórios.

• Investimento de tecnologia anual: US $ 103,5 milhões
• Base de Usuário Global: 77 milhões de alunos registrados
• Alcance geográfico: 220 países e territórios

Design de currículo e curadoria

Em 2023, a Coursera lançou 500 novos certificados profissionais em colaboração com líderes do setor como Google, IBM e Meta. A plataforma com curadoria de conteúdo em 14 domínios de habilidade.

Métrica de desenvolvimento curricular	2023 dados
Novos certificados profissionais	500
Parceiros do setor para certificados	25
Domínios de habilidade	14

Otimização da experiência de aprendizado

A Coursera implementou algoritmos de aprendizado de máquina que personalizam as recomendações do curso para 62% de sua base de usuários. A plataforma alcançou uma taxa de conclusão do curso de 73% em 2023.

• Cobertura de personalização: 62% dos usuários
• Taxa de conclusão do curso: 73%
• Sistema de recomendação orientado a IA: implementado

Gerenciamento de parceria corporativa e acadêmica

A Coursera se envolveu com 3.400 clientes corporativos em 2023, incluindo 80% das empresas da Fortune 500. Parcerias acadêmicas expandiram -se para 275 instituições globalmente.

Métrica de Parceria	2023 dados
Clientes corporativos	3,400
Engajamento da empresa da Fortune 500	80%
Instituições acadêmicas	275

Coursera, Inc. (Cour) - Modelo de Negócios: Recursos Principais

Infraestrutura da plataforma de aprendizado digital

A partir do quarto trimestre de 2023, a plataforma digital da Coursera suporta 87 milhões de usuários registrados em 190 países. A infraestrutura da plataforma inclui:

• Arquitetura baseada em nuvem hospedada no Amazon Web Services (AWS)
• Custo da infraestrutura técnica: US $ 42,3 milhões em 2023
• Tempo de atividade da plataforma: 99,99% de confiabilidade

Componente de infraestrutura	Especificação	Investimento anual
Infraestrutura do servidor	Arquitetura de nuvem distribuída	US $ 18,7 milhões
Rede de entrega de conteúdo	Distribuição global de conteúdo	US $ 12,5 milhões
Sistemas de segurança	Criptografia avançada	US $ 6,1 milhões

Catálogo de cursos extensos

Métricas de catálogo do curso a partir de 2024:

• Total de cursos: 7.250
• Certificados profissionais: 985
• Parcerias da Universidade: 275
• Idiomas suportados: 16

Algoritmos avançados de IA e recomendação

Investimento e capacidades da IA:

• Investimento anual de P&D da AI: US $ 37,6 milhões
• Modelos de aprendizado de máquina: 52 algoritmos de recomendação ativa
• Precisão de personalização: 78,3% de conteúdo de usuário taxa de correspondência

Rede global de instrutores acadêmicos e profissionais

Categoria de instrutor	Número	Compensação média
Professores universitários	4,750	US $ 12.500 por curso
Profissionais do setor	3,200	US $ 9.800 por curso

Dados do usuário e análise de aprendizagem

Recursos de análise de dados:

• Processamento anual de dados: 2.7 Petabytes
• Rastreamento de comportamento de aprendizado: 15 indicadores de desempenho principais
• Conformidade de privacidade de dados: GDPR, CCPA certificado

Coursera, Inc. (Cour) - Modelo de Negócios: Proposições de Valor

Opções de aprendizado on -line flexíveis e acessíveis

A partir do quarto trimestre de 2023, a Coursera oferece mais de 7.300 cursos on -line e mais de 1.600 certificados profissionais em 220 países. A plataforma suporta 16 idiomas e fornece acessibilidade para aprendizado móvel.

Métricas de acessibilidade de aprendizado	2023 dados
Total de cursos online	7,300+
Certificados profissionais	1,600+
Países serviram	220
Idiomas suportados	16

Ampla gama de cursos das principais universidades

A Coursera faz parceria com 275 melhores universidades e empresas, incluindo Stanford, Google, Yale e IBM.

• Principais parceiros da universidade: Stanford, Yale, Princeton
• Parceiros corporativos: Google, IBM, Meta
• Instituições acadêmicas globalmente: 275+

Desenvolvimento de Habilidades Profissionais e Certificação

Em 2023, a Coursera registrou 97 milhões de alunos registrados com 56 milhões de matrículas de cursos.

Métricas de engajamento do usuário	2023 Estatísticas
Total de alunos registrados	97 milhões
Matrículas de curso	56 milhões

Alternativa acessível à educação tradicional

O preço médio do curso varia de US $ 39 a US $ 79 por mês, significativamente menor que os programas de graduação tradicionais.

Estrutura de preços	Intervalo de custos
Assinatura mensal	$39 - $79
Certificado profissional	$39 - $199

Programas de aprendizado de ritmo próprio e orientado para a carreira

A Coursera oferece mais de 4.300 programas orientados para a carreira com um tempo médio de conclusão de 3-6 meses.

• Programas orientados para a carreira: 4.300+
• Tempo médio de conclusão do programa: 3-6 meses
• Faixas de habilidade prontas para o trabalho: mais de 30 domínios

Coursera, Inc. (Cour) - Modelo de Negócios: Relacionamentos do Cliente

Recomendações de aprendizado personalizadas

A partir de 2024, a Coursera utiliza algoritmos de recomendação orientados para a IA que analisam os padrões de aprendizado do usuário. A plataforma processa mais de 77 milhões de pontos de dados do aluno para gerar sugestões de cursos personalizadas.

Métrica de recomendação	Valor estatístico
Precisão de personalização	82.5%
Recomendações médias por usuário	6.3 cursos
Taxa de envolvimento do usuário	64.2%

Fóruns de discussão da comunidade

A Coursera mantém fóruns de discussão ativos em sua plataforma com métricas específicas de engajamento.

• Tópicos de discussão ativa total: 412.000
• Participantes mensais do fórum: 2,1 milhões
• Tempo médio de resposta: 12,4 horas

Rastreamento e suporte de progresso do usuário

A plataforma fornece um monitoramento abrangente de progresso com análises detalhadas.

Recurso de rastreamento de progresso	Métrica
Taxa de conclusão do curso	46.7%
Usuários ativos semanais Rastreando o progresso	1,8 milhão
Painéis de desempenho em tempo real	93% dos cursos

Interação direta do instrutor

O Coursera facilita os canais de comunicação direta entre alunos e instrutores.

• Total de instrutores na plataforma: 7.300
• Interações semanais médias do instrutor: 340.000
• Taxa de resposta às consultas do aluno: 78,6%

Sucesso do cliente e serviços de orientação profissional

A Coursera fornece serviços abrangentes de suporte de carreira com resultados mensuráveis.

Métrica de Serviço de Carreira	Valor estatístico
Taxa de colocação de carreira	62.3%
Usuários de certificados profissionais	5,2 milhões
Sessões de aconselhamento de carreira	214.000 anualmente

Coursera, Inc. (Cour) - Modelo de Negócios: Canais

Plataforma da Web

A partir do quarto trimestre de 2023, a plataforma da Web da Coursera hospedou 87 milhões de alunos registrados em todo o mundo. A plataforma oferece mais de 7.300 cursos de 275 parceiros universitários e do setor.

Métrica da plataforma	2023 dados
Total de usuários registrados	87 milhões
Ofertas totais de curso	7,300+
Instituições parceiras	275

Aplicativo móvel

O aplicativo móvel da Coursera teve 4,5 milhões de downloads em 2023, com uma classificação de 4,6/5 na Apple App Store e no Google Play Store.

• Downloads de aplicativos móveis: 4,5 milhões
• App Store Classificação: 4.6/5
• Disponível em plataformas iOS e Android

Marketing de mídia social

A presença das mídias sociais da Coursera inclui:

• LinkedIn: 2,3 milhões de seguidores
• Twitter: 1,1 milhão de seguidores
• Facebook: 1,5 milhão de seguidores
• Instagram: 680.000 seguidores

Comunicação por e -mail

A Coursera envia aproximadamente 68 milhões de e-mails de marketing mensalmente, com uma taxa de abertura média de 22,3% e uma taxa de cliques de 3,4%.

Métrica de marketing por e -mail	2023 dados
Volume mensal de e -mail	68 milhões
Taxa de abertura por e -mail	22.3%
Taxa de cliques	3.4%

Referências de parceria estratégica

A Coursera possui parcerias estratégicas com 275 universidades e 200 parceiros da indústria, gerando 35% do total de matrículas de cursos por meio de canais de referência.

• Parceiros da Universidade: 275
• Parceiros da indústria: 200
• Região de canais de referência: 35%

Coursera, Inc. (Cour) - Modelo de Negócios: Segmentos de Clientes

Estudantes universitários

Em 2023, a Coursera atende a aproximadamente 108 milhões de alunos registrados em todo o mundo. Os estudantes universitários representam um segmento significativo com acesso a mais de 7.000 cursos de 275 melhores universidades e empresas.

Características do segmento	Dados estatísticos
Usuários de estudantes universitários totais	42,3 milhões
Taxa média de conclusão do curso	46%
Faixa etária típica	18-24 anos

Alunos profissionais

Os alunos profissionais constituem um segmento crítico de clientes para o modelo de receita da Coursera.

• Usuários profissionais totais: 27,5 milhões
• Gastos anuais médios: US $ 249 por usuário
• Domínios profissionais mais populares: tecnologia, negócios, ciência de dados

Departamentos de treinamento corporativo

A Coursera for Business gera receita corporativa significativa.

Métricas de segmento corporativo	2023 dados
Total de clientes corporativos	2.100 empresas
Receita anual da empresa	US $ 370,2 milhões
Valor médio do contrato	$176,000

Changers de carreira

Os programas de transformação de carreira representam um segmento crescente para o Coursera.

• Usuários totais de transição de carreira: 15,6 milhões
• Transições de carreira bem -sucedidas: 62% dos usuários
• Planos de carreira mais transformados: tecnologia, marketing digital, análise de dados

Entusiastas da aprendizagem ao longo da vida

O segmento de aprendizado contínuo demonstra crescimento consistente.

Métricas de aprendizado ao longo da vida	2023 Estatísticas
Alunos totais ao longo da vida	22,8 milhões
Cursos médios por ano	3.7 cursos
Taxa de assinatura recorrente	68%

Coursera, Inc. (Cour) - Modelo de Negócios: Estrutura de Custo

Manutenção de infraestrutura de tecnologia

Custos anuais de infraestrutura de tecnologia para Coursera em 2023: US $ 87,4 milhões

Componente de infraestrutura	Custo anual
Serviços de hospedagem em nuvem	US $ 42,6 milhões
Manutenção do data center	US $ 22,3 milhões
Infraestrutura de segurança cibernética	US $ 15,5 milhões
Gerenciamento de rede	US $ 7 milhões

Criação de conteúdo e licenciamento

Despesas totais relacionadas ao conteúdo em 2023: US $ 124,6 milhões

• Custos de desenvolvimento do curso: US $ 68,3 milhões
• Taxas de parceria universitária: US $ 36,2 milhões
• Licenciamento de conteúdo: US $ 20,1 milhões

Marketing e aquisição de clientes

Despesas de marketing para 2023: US $ 92,7 milhões

Canal de marketing	Gastar
Publicidade digital	US $ 45,3 milhões
Marketing de mídia social	US $ 22,4 milhões
Marketing de afiliados	US $ 15,6 milhões
Marketing de conteúdo	US $ 9,4 milhões

Desenvolvimento e inovação de plataforma

Despesas de desenvolvimento de P&D e plataforma em 2023: US $ 103,5 milhões

• Engenharia de software: US $ 62,7 milhões
• Design de produto e UX: US $ 24,8 milhões
• Desenvolvimento de IA e aprendizado de máquina: US $ 16 milhões

Compensação e suporte do instrutor

Total de despesas relacionadas ao instrutor em 2023: US $ 56,2 milhões

Categoria de compensação	Quantia
Pagamentos diretos do curso	US $ 34,6 milhões
Recursos de suporte ao instrutor	US $ 12,4 milhões
Treinamento e desenvolvimento	US $ 9,2 milhões

Estrutura de custo total para 2023: US $ 464,4 milhões

Coursera, Inc. (Cour) - Modelo de Negócios: Fluxos de Receita

Taxas de assinatura do curso

A Coursera oferece assinatura Coursera Plus em US $ 59 por mês ou US $ 399 por ano a partir de 2024. A assinatura fornece acesso ilimitado a 90% do seu catálogo de cursos.

Tipo de assinatura	Preço mensal	Preço anual
Coursera Plus	$59	$399

Compras individuais do curso

Os preços individuais do curso variam de US $ 39 a US $ 199, dependendo da complexidade e da duração.

Tipo de curso	Faixa de preço
Cursos iniciantes	$39 - $79
Cursos avançados	$99 - $199

Empresa e licenciamento institucional

A receita corporativa da Coursera em 2023 foi de US $ 215,3 milhões, representando um crescimento de 23% ano a ano.

• Contagem de clientes corporativos: 1.093 a partir do quarto trimestre 2023
• Valor médio do contrato corporativo: US $ 58.000 anualmente

Programas de certificação profissional

Certificados profissionais com preços entre US $ 39 e US $ 99 por mês, com um tempo médio de conclusão de 3-6 meses.

Programa de certificado	Custo mensal	Tempo de conclusão estimado
Certificados de carreira no Google	$49	3-6 meses
Certificados profissionais da IBM	$59	4-6 meses

Soluções de treinamento da força de trabalho

A receita de treinamento da força de trabalho atingiu US $ 83,4 milhões no quarto trimestre de 2023, com um aumento de 17% ano a ano.

• Total de alunos: 129 milhões a partir do quarto trimestre 2023
• Países com alunos: mais de 190

Coursera, Inc. (COUR) - Canvas Business Model: Value Propositions

You're looking at the core reasons why learners and enterprises choose Coursera, Inc. over other options. It boils down to scale, relevance, and increasingly, smart technology integration. Here's the quick math on the value propositions as of late 2025.

Universal access to world-class, career-relevant learning

Coursera, Inc. provides access to a massive, globally distributed catalog of learning assets. As of September 30, 2025, the platform hosted 191 million registered learners globally. This reach spans over 230 countries and territories. The content itself is curated from top sources, with Coursera partnering with over 375 leading university and industry partners. The catalog features more than 12,300+ total courses. To give you a sense of where the demand is, North America represents the largest regional learner base with 31.2 million learners, while India leads in total enrollments with 24.6 million learners. A significant majority, 85%, of these learners identify as career learners.

• Total registered learners as of September 30, 2025: 191 million.
• Total Courses offered: 12,300+.
• Percentage of learners reporting career benefits: 77%.
• Percentage of learners who are career learners: 85%.

Flexible, stackable credentials like Professional Certificates

The shift toward stackable credentials is a major draw. Coursera, Inc. now offers nearly 100 professional certificates, including new titles from Microsoft, AAPC, and EC-Council as of Q3 2025. The platform recorded 4.9 million enrollments in Professional Certificates, representing a 10% growth compared to 2023. Specifically, enrollments in Entry-Level Professional Certificates have surpassed 15.4 million in total. This flexibility is attracting diverse learners; for instance, the percentage of women pursuing Professional Certificates rose from 25% in 2019 to 40% in 2022.

Credential Type Metric	Value as of Late 2025 Data	Context/Period
Total Professional Certificate Enrollments	4.9 million	Growth of 10% vs. 2023
Entry-Level Professional Certificate Enrollments	Over 15.4 million	Total recorded
Total Professional Certificates Offered	Nearly 100	As of Q3 2025

AI-driven personalization and accessibility (e.g., course translations)

Artificial intelligence is baked into the platform experience now. Generative AI (GenAI) enrollments have surged, surpassing 8 million in total. The velocity of adoption is clear: GenAI courses averaged 12 enrollments per minute in 2025, a significant jump from 1 per minute in 2023. Platform innovations include Coursera Coach, Role Play, and Course Builder, plus the introduction of AI translations.

Enterprise upskilling solutions for workforce transformation

For businesses, Coursera, Inc. delivers measurable workforce transformation value. In the third quarter of 2025, the Enterprise segment generated $64 million in revenue. The gross profit margin for this segment was 70% in Q3 2025. Paid enterprise customers grew to 1,686 as of Q2 2025, up 12% year-over-year. Furthermore, the Net Retention Rate for these paid enterprise customers remained steady at 93%. Companies collaborating with Coursera report saving an average of $1.12 million in recruitment costs annually.

Affordable freemium model allowing users to audit courses for free

The entry point remains highly accessible. Learners can audit courses for free, which is a key component of the freemium structure. For those seeking full access, the Coursera Plus subscription is priced at $59 per month or $399 annually. This subscription, which grants access to over 11,000+ courses, now contributes more than half of the entire Consumer segment revenue.

Coursera, Inc. (COUR) - Canvas Business Model: Customer Relationships

You're looking at how Coursera, Inc. keeps its massive, diverse user base engaged and spending, which is key since the platform mixes individual learners with large institutional contracts. The relationship strategy clearly splits between the high-volume consumer side and the high-touch enterprise side.

For the individual learner, the relationship is almost entirely automated and self-service. This is where the Coursera Plus subscription model really shines for driving defintely sticky revenue. As of the third quarter of 2025, Coursera Plus now encompasses more than half of the Consumer segment revenue. This shift gives Coursera significant visibility into recurring revenue streams, which is a huge plus for financial planning. The platform supports this with a base of 191 million Paying Users as of Q3 2025, an increase of 28.9 million year-over-year.

The platform's self-service nature is reinforced by data-driven product improvements aimed at streamlining the learner journey. The success of this approach is reflected in outcomes. A recent report, based on feedback from over 52,000 learners across 179 countries, showed that 86% of learners join to build new skills and transform their careers. Furthermore, 91% of those surveyed reported achieving a positive career outcome after learning on the platform.

When you look at the B2B/B2G side, the relationship model flips to dedicated, high-touch engagement. Coursera deploys dedicated Enterprise sales and customer success teams to manage these accounts. In Q3 2025, the Enterprise segment brought in $63.9 million in revenue, marking a 6% increase year-over-year. The customer base grew by 10%, reaching 1,724 paid enterprise customers. However, you need to watch the Net Revenue Retention (NRR) metric, which softened to 89% in that same quarter, suggesting some existing enterprise clients are spending less or churning.

Community forums and peer-to-peer support are the glue that holds the self-service model together, even if they don't generate direct revenue. They reduce the load on direct support and increase course completion rates. The platform also uses its vast data set to iterate on the learning experience itself. Here's the quick math on the key customer metrics as of Q3 2025:

Metric Category	Specific Metric	Value (Q3 2025)
Individual Learners (Scale)	Total Paying Users	191 million
Individual Learners (Growth)	Year-over-Year Paying User Increase	28.9 million
Subscription Stickiness	Coursera Plus Share of Consumer Revenue	More than half
Enterprise Customers (Scale)	Total Paid Enterprise Customers	1,724
Enterprise Customers (Growth)	Year-over-Year Paid Customer Growth	10%
Enterprise Health	Enterprise Net Revenue Retention (NRR)	89%
Learner Success	Reported Positive Career Outcome Rate	91%

The reliance on Coursera Plus means that managing the subscription lifecycle-from acquisition to renewal-is paramount. The goal is to make the value proposition so clear that learners see the subscription as a non-negotiable tool for career advancement. The data showing 86% of learners join specifically to build skills supports this value-driven relationship. If onboarding takes 14+ days, churn risk rises.

The Enterprise team's relationship focus is on demonstrating clear Return on Investment (ROI) to justify the spend, especially when NRR is softening. They are using new enterprise SKUs, like Skills Tracks, to better address upskilling ROI directly, which is a clear action based on the 89% NRR figure.

Finance: draft 13-week cash view by Friday.

Coursera, Inc. (COUR) - Canvas Business Model: Channels

You're looking at how Coursera, Inc. gets its content and services in front of learners and institutions as of late 2025. The channels are a mix of direct digital reach and targeted enterprise sales motions, which is definitely showing in the latest numbers.

Core online learning platform (website and mobile app)

This is the foundation, the digital storefront where the vast majority of transactions and consumption happen. The platform's reach is substantial, evidenced by the total registered learner base. As of the third quarter of 2025, Coursera, Inc. reported a total registered learner base of 191 million, which marked an 18% increase from the prior year. The platform's ability to acquire new users remains strong, adding 7.7 million new registered learners in that single quarter. The mobile experience is a key part of this channel, with a significant portion of the user base relying on it for access.

• Total Registered Learners (as of Q3 2025): 191 million
• New Registered Learners (Q3 2025): 7.7 million
• Mobile Access: A substantial portion of the user base accesses courses via mobile devices.

Direct-to-Consumer (D2C) digital marketing and SEO

The Consumer segment is the primary engine for top-line growth, relying heavily on digital acquisition channels like search engine optimization (SEO) and targeted digital marketing to drive subscriptions. This channel's success is directly reflected in the segment's financial performance. For the third quarter of 2025, the Consumer segment generated $130.3 million in revenue, representing a strong 13% year-over-year growth. A critical component of this D2C channel is the subscription offering; Coursera Plus now accounts for more than half of the entire Consumer segment revenue. Management noted they will continue to invest in marketing channels that prove effective at driving Coursera Plus subscriptions.

Enterprise sales team for Coursera for Business and Government

The Enterprise segment utilizes a direct sales force to target corporate learning and public sector workforce development. This channel is more relationship-driven than the D2C path, though it faces some headwinds. In Q3 2025, the Enterprise segment revenue grew by 6% year-over-year, reaching $63.9 million. The number of paid enterprise customers stood at 1,724, a 10% year-over-year increase. However, the Net Retention Rate (NRR) for these customers was 89% as of Q3 2025, a metric the CEO admitted the company was not pleased with, suggesting challenges in expansion or retention within this base. Coursera for Government was specifically noted as being more challenged compared to the business and campus verticals.

University and institutional sales for Coursera for Campus (C4C)

Coursera for Campus (C4C) is a specialized focus within the broader enterprise effort, targeting higher education institutions for content integration and credit-bearing courses. This channel is strategically prioritized for growth. While the overall Enterprise segment grew at 6% in Q3 2025, C4C was explicitly stated to be expected to deliver the highest growth among all enterprise offerings. The strategy here centers on integrating Coursera content into existing university programs to drive higher completion rates and secure tuition revenue share, which is seen as a more scalable approach than the Degrees offering, which saw expected revenue decline for the full year 2025.

Partner networks (universities, companies) promoting content

The partner network acts as a crucial distribution and credibility channel, lending authority to the platform's offerings. As of early 2025 data, Coursera, Inc. maintained partnerships with approximately 200 universities and 150 industry leaders. These partnerships are vital for content creation and co-promotion, especially for high-demand areas like AI certifications. The growth in AI enrollments, which surged by 195% year-over-year to surpass 8 million in total, is partly fueled by the credibility and reach provided by these established institutional and corporate partners. The platform also boasts over 12,000 total courses available.

Here's a quick look at the segment revenue contribution for the third quarter of 2025:

Segment Channel	Q3 2025 Revenue (Millions USD)	Year-over-Year Growth
Consumer (D2C Digital)	$130.3	13%
Enterprise (Business, Government, Campus)	$63.9	6%
Total Reported Revenue	$194.2	10%

Finance: draft 13-week cash view by Friday.

Coursera, Inc. (COUR) - Canvas Business Model: Customer Segments

You're looking at the core paying and non-paying groups Coursera, Inc. serves as of late 2025. The platform's scale is massive, with a total registered learner base reaching 191 million as of September 30, 2025. In the third quarter alone, the company added 7.7 million new registered learners.

Individual Learners (Consumer segment) seeking career advancement.

This segment is the engine driving recent acceleration. Career advancement is the top motivation, with 86% of learners joining to build new skills and transform their careers, according to a September 2025 report. Furthermore, 91% of learners reported achieving a positive career outcome after completing a course. The Consumer segment, which now includes Degrees, posted revenue of $130 million in Q3 2025, marking a 13% year-over-year growth. The Coursera Plus subscription offering is now a major driver, accounting for more than half of the entire Consumer segment revenue.

Key metrics for the Individual Learner segment:

• New registered learners added in Q3 2025: 7.7 million.
• Year-over-year Consumer revenue growth (Q3 2025): 13%.
• Total registered learners as of September 30, 2025: 191 million.

Businesses (Enterprise segment) needing workforce upskilling/reskilling.

The Enterprise segment includes Coursera for Business and Government. Management has noted a more muted corporate spend environment, which has impacted growth rates here compared to the Consumer side. For the third quarter of 2025, Enterprise segment revenue was $64 million, representing a 6% year-over-year growth. This growth rate decelerated from the 10% seen in Q2 2025. The total number of paid enterprise customers stood at 1,686 as of Q2 2025. The segment gross profit margin remained strong at 70% in Q3 2025.

Here's a quick comparison of the two primary revenue segments for Q3 2025:

Segment	Revenue (Q3 2025)	Year-over-Year Growth (Q3 2025)	Gross Profit Margin (Q3 2025)
Consumer	$130 million	13%	61%
Enterprise	$64 million	6%	70%

Governments and NGOs focused on public sector training.

This group is served under the Enterprise umbrella, specifically via Coursera for Government. While specific revenue for this sub-segment isn't broken out, growth in the Enterprise vertical is noted as being driven by both business and campus verticals. There is evidence of government-led initiatives driving demand, such as cybersecurity training in the Middle East & North Africa region, which saw a 17% enrollment increase in 2024. The overall Enterprise segment is being managed under new leadership to reignite more significant long-term growth.

Universities and Colleges utilizing C4C for blended learning.

Coursera for Campus (C4C) is a primary focus for 2025, positioned to deliver the highest growth among Enterprise offerings. The strategy involves integrating course content into existing university programs, aiming to capture a share of the $2 trillion higher education market. Credit-bearing courses within C4C see the highest completion rates across the entire platform. Adoption is leading in India, with European universities being slower to embrace the model.

Learners in emerging markets seeking affordable, localized content.

Emerging markets are key beneficiaries of platform innovations designed for accessibility. Generative AI (GenAI) enrollments have surged by 195% year-over-year, surpassing 8 million in total, with India leading all countries in GenAI course enrollments at over 1.3 million in 2024. Latin America saw a 425% increase in GenAI enrollments. The platform is actively using AI translations and AI dubbing, enabling over 120,000 learners to complete over 400,000 learning hours in multiple languages, specifically targeting Spanish-speaking markets.

Key statistics related to global reach and emerging skills:

• GenAI courses averaged 12 enrollments per minute across Coursera's 700 GenAI courses in 2025.
• Women represent 46% of the global learner base, with countries like Kazakhstan showing 56% female learners.
• Professional Certificate enrollments grew 37% in North America and 36% in the Middle East and North Africa over the past year.

Finance: draft 13-week cash view by Friday.

Coursera, Inc. (COUR) - Canvas Business Model: Cost Structure

You're looking at the expense side of the ledger for Coursera, Inc. as of late 2025, which is all about scaling efficiently while keeping those partner payouts in check. The cost structure is heavily influenced by how they pay their content creators, which is the primary variable cost.

Content costs: Revenue share payments to university and industry partners.

This is the biggest lever in the Cost of Revenue line. Coursera, Inc. manages this by favoring newer content arrangements that come with a lower revenue share percentage. For the three months ended March 31, 2025, content costs for the Enterprise segment were $18.5 million. This represented a content cost as a percentage of revenue of 30.0% for the Enterprise segment in that quarter. The Consumer segment shows similar dynamics; in Q3 2025, the Consumer segment gross profit margin hit 61.2%, up from 59.4% year-over-year, directly because newer content carries a lower revenue share.

Here's a quick look at the gross margin performance, which directly reflects content cost management:

Metric	Period	Value
Enterprise Segment Gross Profit Margin	Q3 2025	69.6%
Consumer Segment Gross Profit Margin	Q3 2025	61.2%
Overall GAAP Gross Margin	Q3 2025	56%
Enterprise Content Cost as % of Revenue	Q1 2025	30.0%

Technology and development expenses for platform maintenance and AI.

These fixed-like costs, along with Sales and Marketing and G&A, are what you watch to see if the company is gaining operating leverage. For the first quarter of 2025, the total GAAP operating expense was $112.3 million, which was 62.7% of revenue for that period. This was an improvement, down 780 basis points year-over-year, showing a clear focus on pacing investments against top-line growth. The push into generative AI, including partnerships like the one with Anthropic, is a key area for this spending bucket.

Sales and marketing costs to acquire Consumer and Enterprise customers.

Acquisition costs are necessary to fuel the growth seen in the Consumer segment, which saw revenue grow 13% year-over-year in Q3 2025. The Enterprise segment, however, saw its Net Retention Rate soften to 89% in Q3 2025, suggesting that the cost to maintain or grow those accounts might be under pressure or that spending is more muted. The company is trying to address this by launching new Enterprise SKUs like Skills Tracks to better demonstrate upskilling ROI.

General and administrative expenses (G&A) for a public company.

G&A covers the overhead of being a publicly traded entity, including finance, legal, and executive functions. While specific G&A dollar amounts aren't broken out in the immediate results, the overall cost control is evident when looking at the non-GAAP profitability metrics. The company reported an Adjusted EBITDA of $15.6 million for Q3 2025, which translates to an 8.0% Adjusted EBITDA Margin for that quarter.

Targeting Adjusted EBITDA margin of 8.0% for full-year 2025.

This is the key profitability goal you need to track. Coursera, Inc. has maintained its guidance for the full year 2025, targeting an annual Adjusted EBITDA Margin improvement of 200 basis points, landing at 8.0%. This target shows management's commitment to letting revenue growth flow through to profitability, especially as content costs are managed down. If onboarding takes 14+ days, churn risk rises, which would directly impact the revenue base against these fixed operating costs.

• Q3 2025 Adjusted EBITDA was $16 million (or $15.6 million).
• The Q3 2025 Adjusted EBITDA Margin was approximately 8.0%.
• Full year 2025 revenue is projected to be in the range of $750 million to $754 million.
• The company held approximately $798 million in unrestricted cash and cash equivalents as of September 30, 2025, with no debt.

Finance: draft 13-week cash view by Friday.

Coursera, Inc. (COUR) - Canvas Business Model: Revenue Streams

You're looking at the revenue side of Coursera, Inc.'s (COUR) business model as of late 2025, which is showing a clear pivot toward subscription and enterprise growth while de-emphasizing one older revenue line. The overall expectation for the full fiscal year 2025 is a revenue range of $750 million to $754 million.

The primary engine for growth right now is the Consumer subscription revenue, largely driven by Coursera Plus. This subscription service is key because it provides more predictable, recurring revenue streams. In the third quarter of 2025, Coursera Plus had grown to account for more than half of the entire Consumer segment revenue.

The Consumer segment itself showed strong momentum, reporting revenue of $130.3 million in the third quarter of 2025, marking a 13% year-over-year growth. This segment's gross profit margin expanded to 61.2% in that same quarter. This revenue stream is a blend of subscriptions and direct purchases, which we can break down further:

• Coursera Plus subscriptions (key growth driver).
• Individual course/Specialization purchases.
• Professional Certificate fees.

The Enterprise segment, which covers B2B, B2G (Business-to-Government), and C4C (Consumer-for-Corporate) sales through annual contracts, is still a significant contributor, though its growth has moderated. For the third quarter of 2025, Enterprise segment revenue was $63.9 million, representing a 6% year-over-year increase. Management noted a muted corporate spend environment, reflected in the Net Retention Rate (NRR) for paid Enterprise Customers softening to 89%. The Enterprise segment gross profit margin for Q3 2025 was reported at 69.6%.

Here's a quick look at the segment performance as of the latest reported quarter:

Metric	Q3 2025 Value (Millions USD)	Year-over-Year Growth
Total Revenue	$194.2	10%
Consumer Segment Revenue	$130.3	13%
Enterprise Segment Revenue	$63.9	6%

Finally, you need to note the shift away from Degree program tuition revenue. Management explicitly indicated that the degrees product revenue is expected to decline in 2025 as the focus shifts to the Consumer and Enterprise growth opportunities. In fact, the company stopped reporting the number of Degrees students as a standalone metric because it no longer provides a meaningful indication for Consumer segment performance. The overall catalog supporting these revenue streams includes more than 12,000 courses and nearly 100 professional certificates as of late 2025.