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Coursera Inc. (COUR) stock dwindle during premarket, following the financial results

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Coursera Inc. (NASDAQ: (COUR) stock plunged by 2.62% at last close while the COUR stock price fell by 0.78% in the pre-market trading session. Andrew Ng and Daphne Koller, two Stanford Computer Science professors, founded Coursera in 2012 with the goal of providing universal access to best earning. With 92 million enrolled students as of September 30, 2021, it has become one of the world’s biggest internet learning platforms.

COUR stock’ Financial Highlights

Coursera announced its financial results for the third quarter of fiscal 2021. The summary is given below:

  • The company has generated a revenue of $109.9 million in the fiscal third quarter of 2021. This is an increase of 33% compared to $82.7 million a year ago.
  • Gross profit increased by 55 percent to $67.7 million, or 61.6 percent of revenue, from $43.7 million a year before. Non-GAAP gross profit increased 56 percent to $68.3 million, or 62.1 percent of revenue, from $43.8 million in the previous year’s same quarter.
  • In comparison to $11.9 million or 14.4% of revenue a year ago, the net loss for third-quarter fiscal 2021 was $32.5 million, or 29.5 percent of revenue. Non-GAAP net loss was $8.0 million, or 7.3 percent of revenue, down from $7.0 million, or 8.5 percent, a year ago.
  • Adjusted EBITDA came in at $3.1 million, or 2.9 percent of revenue, down from $4.3 million, or 5.2 percent, a year ago.
  • Operating activities generated $10.7 million in net cash, relative to $1.3 million in operating activities a year before. Free cash flow was $7.1 million, up from $4.2 million the previous year.

Coursera CEO Jeff Maggioncalda commented,

The ongoing eagerness with which corporations, campuses, and governments throughout the world are engaging in digital skills is reflected in their third-quarter success. Their newly introduced SkillSets and Academies, as well as their expanding range of Professional Certificates, are ideally positioned to meet the growing need for role-based learning between individuals and organizations.

Future Outlook

  • The company expects its revenue to be between $109 to $113 million for the fourth quarter of fiscal 2021 and $409 to $413 million for the full year of fiscal 2021.
  • For the fourth quarter fiscal 2021 the adjusted EBTIDA is anticipated to be between $16.5 to $19.5 million and for the full year fiscal 2021, it will be between $32.5 to $35.5 million.

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