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Coursera’s Udemy Acquisition Unlocks $85 Million in Synergies!

The full-year 2026 results for Coursera, Inc. reflect the first quarter of combined operations following its acquisition of Udemy, completed in May 2026. Total revenue for Q2 reached $299 million, marking a 60% year-over-year increase primarily due to the consolidation of Udemy’s results. On a normalized basis, which adjusts for the timing of the acquisition, revenue declined 1% year-over-year. Revenue growth was driven by the Enterprise segment and consumer subscriptions, with paid subscribers expanding 44% year-over-year to exceed 1.6 million. Notably, recurring revenue from subscriptions in both Enterprise and Consumer segments now comprises over 85% of total revenue. Profitability metrics improved, with gross profit increasing 77% to $186 million and gross margin expanding by 620 basis points year-over-year to 62% as reported, reflecting benefit from improved content economics and leverage from Udemy’s contribution.