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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

Despite assurances of sustained instructor earnings, Udemy’s policy changes delivered a $30 million pay cut, sacrificing creator income to bolster its stock value.

From course ratings to pricing, let’s have a look at some of the discernible trends of Udemy’s catalog.