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MOUNTAIN VIEW, Calif. - Coursera, Inc. (NYSE: COUR), a leading global online learning platform currently trading at $9.58, announced the retirement of its CEO Jeff Maggioncalda and the appointment of Greg Hart as the new President and CEO, effective February 3, 2025. Hart will also join the company’s Board of Directors. According to InvestingPro analysis, Coursera shows strong financial health with multiple positive indicators, including a solid balance sheet with more cash than debt.
Andrew Ng, Co-Founder and Chairman of the Board, expressed confidence in Hart’s leadership abilities, citing his 25-year track record in technology-driven businesses, including his role in launching Amazon (NASDAQ:AMZN)’s Alexa and scaling Prime Video globally. Ng praised Hart for his capacity to create consumer demand and drive growth, as well as improve operational performance at scale.
Hart, in his remarks on the appointment, emphasized Coursera’s mission and his commitment to expanding access to learning and driving innovation. He acknowledged the growing demand for skill development in a rapidly evolving job market and the potential for Coursera to deliver value to learners and companies seeking to upskill their workforce.
The Board of Directors and Jeff Maggioncalda have been engaged in a meticulous succession planning process, ensuring a smooth transition of leadership. Ng commended Maggioncalda for his significant impact on Coursera, highlighting over 100 million new registered learners, a tenfold increase in revenue, a successful IPO, and the company’s profitability under his tenure. The company maintains strong financial metrics with revenue growing at 12.36% and a healthy current ratio of 2.61. InvestingPro analysis suggests the stock is currently undervalued, with analysts predicting profitability this year. Maggioncalda expressed pride in his achievements and confidence in Hart’s ability to lead Coursera to new heights.
Greg Hart’s extensive experience includes a pivotal role at Amazon, where he was instrumental in the development and launch of the Alexa/Echo organization and the global expansion of Prime Video. He also contributed to Compass’s public offering and operational improvements as Chief Product Officer and later COO. Hart joined the Bose Corporation Board of Directors in December 2024 and holds a Bachelor of Arts degree from Williams College.
Coursera, founded in 2012 by Andrew Ng and Daphne Koller, has grown to become one of the world’s largest online learning platforms, with 162 million registered learners as of September 30, 2024. The platform collaborates with over 350 universities and industry leaders to offer diverse educational content and credentials. For deeper insights into Coursera’s financial health and growth prospects, investors can access the comprehensive Pro Research Report available on InvestingPro, which provides detailed analysis of the company’s performance metrics and future potential.
This leadership change was disclosed in compliance with Regulation FD through various public communication methods, as stated by Coursera. The information is based on a press release statement from the company.
In other recent news, Coursera has disclosed strong financial results for Q3 2024, with a 6% year-over-year increase in revenue to $176.1 million, and an improvement in adjusted EBITDA margins to 5.4%. Additionally, the company introduced over 500 generative AI courses and reported a 19% increase in paid enterprise customers, despite a slowdown in consumer segment growth and softer retention rates. Coursera also repurchased $40 million in stock and is considering strategic acquisitions for double-digit growth.
JPMorgan initiated coverage on Coursera with a Neutral rating, highlighting the company’s status as a leading provider in the online education sector, serving approximately 162 million registered learners, 1,600 paid enterprise customers, and 26,400 degree students. The firm anticipates Coursera’s revenue to grow at a compound annual growth rate (CAGR) of over 8% from 2023 to 2026 and expects a 9.2% adjusted EBITDA margin by 2026.
However, JPMorgan also notes that Coursera faces growth headwinds and is awaiting signs of improved revenue trends and a more favorable macroeconomic environment. These recent developments reflect Coursera’s commitment to adapt to the evolving educational landscape and align its offerings with market demands.
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