Episode summary
Coursera CEO on Earnings, AI, Pending Udemy Merger | Bloomberg Businessweek
Bloomberg Businessweek Daily
· · Hosts: Carol Massar, Tim Stenovec · Guests: Greg Hart
Summary
Coursera’s CEO Greg Hart said the company is moving through regulatory review of its all-stock merger with Udemy and remains confident it can close in the second half of 2026. He said the combined company would have roughly $1.5 billion in 2025 revenue, about 10% adjusted EBITDA margins, and $115 million of synergies within two years of closing. Hart framed the deal as a way to widen content choice, improve economics, and expand the platform’s global reach.
On the operating side, Hart said Coursera’s business is seeing strong demand tied to technology and especially AI. He said enrollments in Gen AI-related content rose to 15 enrollments per minute last year, up from 8 per minute in 2024, and that 86% of Coursera learners come to the platform to advance their careers. He also said more than 50% of consumer revenue comes from Coursera Plus, the subscription product that drives repeat usage.
The discussion followed Coursera’s latest results, where the company reported 2025 revenue of $757 million, up 9% year over year, and a record $78 million of free cash flow, up 32%. The hosts noted the stock had been volatile and that analysts had trimmed price targets, but Hart emphasized the company’s small share of a massive education market and the potential upside from the merger.
Key takeaways
- Greg Hart said Coursera and Udemy are still on track for a second-half-2026 close, with regulatory approval the main remaining hurdle.
- Hart said the combined company would generate about $1.5 billion of 2025 revenue and $115 million of synergies within two years of closing.
- Coursera’s Gen AI enrollments rose to 15 per minute last year from 8 per minute in 2024, according to Hart.
- Hart said 86% of Coursera learners use the platform to advance their careers, supporting the company’s skills-focused positioning.
- He said more than 50% of consumer revenue comes from Coursera Plus, indicating meaningful subscription stickiness.
Notable quotes
“we are going through the regulatory approval process uh right now”
“the combined revenue of the companies would be about $ 1.5 billion for 2025 with about 10% adjusted EBITDO margins reynergies”
“we would deliver $115 million of synergies post close within the first two years”
“for Corsera last year we saw enrollments in Gen AI related content at a rate of 15 enrollments per minute”
“more than 50% of our consumer revenue is around Corsera Plus which is our monthly or annual subscription”
How the episode opens
Bloomberg Audio Studios podcasts, radio, news. This is Bloomberg Business Week with Carol Masser and Tim Stenc on Bloomberg radio. — The Department of Justice probing Netflix tactics amid the Warner Brothers Discovery Deal investigation. This according to the Wall Street Journal. Uh the Justice Department investigating whether Netflix engaged in anti-competitive taxes. It's probing the streaming network's uh proposed acquisition of Warner Discovery Studios and HBO Max streaming service. The department looking at whether Netflix's planned Warner deal could enrich or entrench its market power or lead to monopoly in the future. Uh it's also reviewing Paramount's proposed acquisition.
Yeah, stock off its uh earlier highs. It just uh still up though about 510 of a percent here in the Friday trade. Hey, um we want to get to Corsera.
Company did report earnings last night. uh forecast revenue for 2026 with the guidance beating the average analyst estimate. Stock has swung quite a bit today up about 7% at its highs off more than four% at its lows.
Key Bank and RBC both lowering their price targets on the stock today. And we just mentioned about this Warner Brothers Discovery waiting to get this deal done. There is also an M&A uh story to Corsera as well.
Um it is about an $1 billion market cap company, online education company. It is down about 19% year to date. 12% Tim of the float is short.
I want to bring in Greg Hart, president and CEO of Corsera. Greg joins us from San Francisco. Greg, I want to start with the merger. Carol mentioned it in December, an all stock merger between Corsera and Udemy. Uh what what is the status of that right now? We understand it's going to close in the second part of the year.
From the episode’s captions: roughly the first two minutes, lightly cleaned. Keep watching on YouTube →
Topics
- earnings
- ai-native product innovation
- coursera subscription growth
- pending udemy merger
- free cash flow
Companies and tickers mentioned
- COUR
- Coursera
- Udemy
Watch the episode
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Summary, takeaways and quote selection by Octagon. Quotes are short excerpts; the full conversation is in the episode.
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