Q4 2024 Coursera Inc Earnings Call Transcript
Key Points
- Coursera Inc (COUR) achieved significant revenue growth from less than $100 million in 2017 to nearly $700 million by the end of 2024.
- The company has expanded its platform by partnering with over 350 world-class universities and industry leaders.
- Coursera Inc (COUR) launched nearly 40 new entry-level professional certificates in 2024, many of which have received credit recommendations.
- The company has seen a substantial increase in generative AI course enrollments, with over 450 new courses added in 2024.
- Coursera Inc (COUR) demonstrated strong financial performance with over $59 million in free cash flow and a healthy balance sheet with $726 million in cash and no debt.
- Growth fell short of Coursera Inc (COUR)'s goals for 2024, with a slower pace of revenue increase compared to previous years.
- The company is experiencing weakness in the government workforce development programs and non-credit Coursera for Campus offerings.
- Coursera Inc (COUR) anticipates a revenue decline in its degree segment for Q1 and full year 2025.
- The company is facing challenges in the North American market, with softer growth impacting consumer segment performance.
- There is a strategic shift away from degrees as a core growth engine, with a focus on other initiatives for faster returns.
Ladies and gentlemen, thank you for standing by, and welcome to Coursera's Fourth Quarter and Full Year 2024 Earnings Call. At this time, all participants are in a listen-only mode and please be advised that this call is being recorded. (Operator Instructions)
I'd like to turn the call over to Cam Carey, Head of Investor Relations. Mr. Carey, you may begin.
Hi, everyone, and thank you for joining us for Coursera's Q4 and Full Year 2024 Earnings Conference Call. Today, I'm pleased to be joined by Andrew Ng, Coursera's Chairman and Co-Founder; Jeff Maggioncalda, our current Chief Executive Officer; Greg Hart, our incoming Chief Executive Officer; and Kenn Hahn, our Chief Financial Officer. Following their prepared remarks, we will open the call for questions.
Our earnings press release, including financial tables was issued prior to the market open and is available on our Investor Relations website located at investor.coursera.com, where this call is being simultaneously webcast where versions
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