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In this analysis, Udemy and Coursera go head-to-head: revenue, growth, losses — here are all the numbers.

On Feb 5, 2026, Coursera released its Q4 2025 results. It was the first report since announcing the Udemy merger, which Dhawal Shah, Class Central founder, recently analyzed (in 5000+ words!). Coursera’s stock barely moved after the announcement and is currently at ~$6, down 87% from its opening day price in 2021. Here’s a quick review of its last 2025 quarter. More Users, Struggling Segments Coursera’s Q4 revenue was ~$197M, up 10% YoY, but growth has been flat since Q2. Consumer revenue saw

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