According to recent research, the global e-learning market is estimated to grow from $144 billion in 2019 to $374.3 billion by 2026 at a CAGR of 15%. The current pandemic conditions have also accelerated the demand for online learning courses from educational institutions as well as other organizations. Earlier this year Coursera (NYSE: COUR) listed on the stock exchange. It recently announced its first set of results since it went public.

Coursera’s Financials

For the first quarter of the year, Coursera’s revenues grew 64% to $88.4 million. Net loss was $13.4 million, compared to an adjusted net loss of $11.3 million a year ago.

By segment, consumer revenues grew 61% to $51.9 million, enterprise revenues grew 63% to $24.5 million, and degrees revenues grew 81% to $12 million.

Coursera forecast revenues of $89-$93 million for the second quarter and $369-$381 million for the fiscal year.

Coursera’s Expanding Offerings

During the quarter, Coursera announced the expansion of its stackable system of branded content and credentials from leading universities and companies. It added five new degrees, six MasterTrack programs, four university certificates, and a wider selection of Guided Projects to help prepare learners for in-demand jobs. It also launched three new entry-level Professional Certificates from technology companies such as IBM and Salesforce. It also introduced ten new university partners from countries across the globe including Latin America and Asia.

Coursera is also improving its learning platform with new platform features for its learners, educators, and institutions. It introduced real-time, personalized content recommendations, and language subtitle translations for over 2,000 courses. The expanded language capabilities will help it grow its presence within the international markets. For the educators, it piloted new scalable tools to create content efficiently and effectively. It announced the Data Science Academy and SkillSets to help institutions develop, benchmark, and measure skills.

Coursera continues to launch content that will help learners secure jobs within fields that are in demand. Recently it announced the new Microsoft Azure Fundamentals Specialization, a collaboration with Microsoft. The beginner Specialization will provide the Microsoft Certified AZ-900 Azure Fundamentals Exam training and help learners get access to cloud technology related content. The global pandemic has accelerated the need for cloud-based technologies and created a shortage of cloud talent. Coursera’s tie-up with Microsoft will help address this gap. According to a recent report, the number of Azure-related jobs is projected to grow roughly 38% over the next ten years. Coursera is helping address this growing demand through this course.

Coursera went public in March this year on the NYSE with a list price of $33. At the time of the IPO, it raised $520 million and was valued at $4.3 billion. Its stock is trading at $34.8, with a market capitalization of $4.53 billion, and reached a high of $62.53 in early April. Prior to the listing, Coursera had raised $443.1 million in funding from investors including Kleiner Perkins Caufield & Byers and New Enterprise Associates. Its last round of funding of $130 million was held in July 2020 at a $2.5 billion valuation.