COURSERA, INC.
Cash Flow Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Operating Activities | |||||||
| Net Income | $-51.0M | $-79.5M | $-116.6M | $-175.4M | $-145.2M | $-66.8M | $-46.7M |
| Depreciation & Amortization | $28.8M | $25.1M | $22.3M | $18.5M | $14.8M | $9.6M | $5.3M |
| Depreciation | — | — | — | — | — | — | — |
| Amortization | — | $5.5M | $3.0M | $2.6M | $2.2M | $1.5M | $542.0K |
| Stock-Based Compensation | $95.1M | $108.1M | $109.6M | $110.8M | $91.2M | $16.8M | $16.3M |
| Net Cash from Operating Activities | $108.7M | $95.4M | $29.7M | $-38.1M | $1.7M | $-15.0M | $-21.3M |
| Investing Activities | |||||||
| Capital Expenditures | $1.5M | $1.6M | $1.1M | $1.6M | $1.6M | $3.1M | $4.4M |
| Business Acquisitions | — | — | — | — | — | — | — |
| Net Cash from Investing Activities | $-30.2M | $29.9M | $384.8M | $-234.0M | $-51.6M | $-101.4M | $-64.9M |
| Financing Activities | |||||||
| Dividends Paid | — | — | — | — | — | — | — |
| Stock Repurchases | $0 | $36.7M | $58.5M | $0 | $0 | — | — |
| Net Cash from Financing Activities | $-13.5M | $-55.0M | $-79.3M | $12.2M | $550.2M | $139.0M | $113.4M |
| Net Change in Cash | $65.0M | $70.3M | $335.2M | $-259.8M | $500.3M | $22.6M | $27.2M |
| Free Cash Flow | $107.2M | $93.8M | $28.6M | $-39.6M | $192.0K | $-18.1M | $-25.7M |