Coursera, Inc. (COUR) experienced a decline of 0.78% in the aftermarket because the company announced Third Quarter Fiscal 2021 Financial Results. However, the last trading session closed at $36.03 with a decrease of 2.62%.
Third Quarter Fiscal 2021 Financial Results
COUR reported Third Quarter Fiscal 2021 Financial Results on 2nd November 2021. Total sales were $109.9 million, up 33% from $82.7 million the previous year. Moreover, gross profit increased by 55 percent to $67.7 million and non-GAAP gross profit rose 56 percent to $68.3 million.
The net loss was $32.5 million, or 29.5 percent of revenue, more than $11.9 million a year before. Non-GAAP net loss was $8.0 million and adjusted EBITDA was $3.1 million. Last but not least, operating operations contributed $10.7 million in net cash, more than $1.3 million a year ago.
New Coursera Study
On 9th September 2021, COUR launched a new study that looks at the influence of the pandemic on women’s abilities and learning habits. The Women and Skills Report compares pre-pandemic enrollment and performance statistics with trends on the Coursera platform. According to Coursera statistics, women in the United States are learning online at higher rates than they were pre-pandemic, accounting for 52% of new learners in 2021. In addition, more women are enrolling in certificate programs geared for entry-level digital employment.
Moreover, women have been disproportionately affected by the pandemic’s job loss. Despite the more tough job market conditions, however, women increased their commitment to learning new skills on Coursera throughout this time. COUR’s analysis reveals that during the epidemic, gender differences in online learning shrank even as gender employment gaps expanded. Lastly, the company is encouraged by how women are using online learning to get new skills that will help them get back to work faster and move up the economic ladder.
Launch of Leadership Academy
On 18th August 2021, COUR announced the launch of its new Leadership Academy, which will assist businesses in developing the next generation of leaders and high-performance teams in the face of fast change, remote work, and back-to-office transitions. The school, which will be available as part of the company’s enterprise platform Coursera for Business, will offer content from the world’s best institutions and businesses, as well as many notable teachers.
Moreover, recent developments like SkillSets, which help employees gain specialized abilities for specific positions, are powering the academies. Emotional Intelligence, Interpersonal Skills, Change Management, and Organizational Development are just a few of the 42 Skillsets available in the Leadership Academy. The upheaval and unpredictability brought about by digital transformation, as well as the growing use of hybrid work, have posed new problems for businesses. Hence these issues need leaders to stay pace as change advances.