COURSERA, INC., 10-Q filed on 5/1/2025
Quarterly Report
v3.25.1
Cover - shares
shares in Millions
 3 Months Ended
Mar. 31, 2025
Apr. 24, 2025
Cover [Abstract]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Mar. 31, 2025  
Document Transition Report false  
Entity File Number 001-40275  
Entity Registrant Name COURSERA, INC.  
Entity Incorporation, State or Country Code DE  
Entity Tax Identification Number 45-3560292  
Entity Address, Address Line One 2440 West El Camino Real, Suite 500  
Entity Address, City or Town Mountain View  
Entity Address, State or Province CA  
Entity Address, Postal Zip Code 94040  
City Area Code 650  
Local Phone Number 963-9884  
Title of 12(b) Security Common Stock, $0.00001 par value per share  
Trading Symbol COUR  
Security Exchange Name NYSE  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding   161.4
Entity Central Index Key 0001651562  
Document Fiscal Year Focus 2025  
Amendment Flag false  
Document Fiscal Period Focus Q1  
Current Fiscal Year End Date --12-31  
v3.25.1
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Millions
Mar. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 748.0 $ 726.1
Accounts receivable, net 59.9 59.7
Deferred costs, net 24.2 24.7
Prepaid expenses and other current assets 21.9 20.2
Total current assets 854.0 830.7
Property, equipment, and software, net 37.9 36.9
Operating lease right-of-use assets 2.8 3.0
Intangible assets, net 24.9 24.5
Other assets 31.6 35.2
Total assets 951.2 930.3
Current liabilities:    
Educator partners payable 100.5 101.9
Other accounts payable and accrued expenses 17.4 21.4
Accrued compensation and benefits 17.8 31.6
Deferred revenue, current 184.7 159.7
Other current liabilities 14.1 12.9
Total current liabilities 334.5 327.5
Operating lease liabilities, non-current 3.1 3.0
Deferred revenue, non-current 2.2 1.6
Other liabilities 0.9 0.8
Total liabilities 340.7 332.9
Commitments and contingencies (Note 9)
Stockholders’ equity:    
Preferred stock, $0.00001 par value—10.0 shares authorized and no shares issued and outstanding as of March 31, 2025 and December 31, 2024 0.0 0.0
Common stock, $0.00001 par value—300.0 shares authorized as of March 31, 2025 and December 31, 2024; 165.3 shares issued and 161.3 shares outstanding as of March 31, 2025, and 165.3 shares issued and 160.1 shares outstanding as of December 31, 2024 0.0 0.0
Additional paid-in capital 1,516.3 1,506.7
Treasury stock, at cost— 4.0 and 5.2 shares as of March 31, 2025 and December 31, 2024 (37.8) (49.1)
Accumulated deficit (868.0) (860.2)
Total stockholders’ equity 610.5 597.4
Total liabilities and stockholders’ equity $ 951.2 $ 930.3
v3.25.1
Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares
Mar. 31, 2025
Dec. 31, 2024
Statement of Financial Position [Abstract]    
Preferred stock, par value (in dollars per share) $ 0.00001 $ 0.00001
Preferred stock, shares authorized (in shares) 10,000,000.0 10,000,000.0
Preferred stock, shares issued (in shares) 0 0
Preferred stock, shares outstanding (in shares) 0 0
Common stock, par value (in dollars per share) $ 0.00001 $ 0.00001
Common stock, shares authorized (in shares) 300,000,000.0 300,000,000.0
Common stock, shares issued (in shares) 165,300,000 165,300,000
Common stock, shares outstanding (in shares) 161,300,000 160,100,000
Treasury stock, shares (in shares) 4,000,000.0 5,200,000
v3.25.1
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Income Statement [Abstract]    
Revenue $ 179.3 $ 169.1
Cost of revenue 81.4 79.6
Gross profit 97.9 89.5
Operating expenses:    
Research and development 29.5 34.6
Sales and marketing 56.8 57.6
General and administrative 26.9 25.0
Restructuring related charges (0.9) 2.1
Total operating expenses 112.3 119.3
Loss from operations (14.4) (29.8)
Interest income, net 7.8 9.6
Other income (expense), net 0.3 (0.3)
Loss before income taxes (6.3) (20.5)
Income tax expense 1.5 0.8
Net loss $ (7.8) $ (21.3)
Net loss per share - basic (in dollars per share) $ (0.05) $ (0.14)
Net loss per share - diluted (in dollars per share) $ (0.05) $ (0.14)
Weighted average shares used in computing net loss per share - basic (in shares) 160,700,000 156,400,000
Weighted average shares used in computing net loss per share - diluted (in shares) 160,700,000 156,400,000
v3.25.1
Condensed Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Statement of Comprehensive Income [Abstract]    
Net loss $ (7.8) $ (21.3)
Change in unrealized loss on marketable securities, net of tax 0.0 (0.1)
Comprehensive loss $ (7.8) $ (21.4)
v3.25.1
Condensed Consolidated Statements of Stockholders’ Equity (Unaudited) - USD ($)
$ in Millions
Total
Common Stock
Additional Paid-In Capital
Treasury Stock
Accumulated Other Comprehensive Income (Loss)
Accumulated Deficit
Beginning balance (in shares) at Dec. 31, 2023   155,300,000        
Beginning balance at Dec. 31, 2023 $ 616.2 $ 0.0 $ 1,460.0 $ (63.2) $ 0.1 $ (780.7)
Treasury stock, beginning balance (in shares) at Dec. 31, 2023       (7,600,000)    
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Number of shares, exercised (in shares)   1,200,000        
Exercise of stock options 4.1 $ 0.0 4.1      
Vesting of restricted stock units, net of tax withholdings (13.5) $ (13.5)        
Vesting of restricted stock units, net of tax withholdings (in shares)   1,100,000        
Repurchases of common stock (in shares)   400,000   400,000    
Repurchases of common stock (6.0)     $ (6.0)    
Stock-based compensation 29.7   29.7      
Other comprehensive income (0.1)       (0.1)  
Net loss (21.3)         (21.3)
Ending balance (in shares) at Mar. 31, 2024   157,200,000        
Ending balance at Mar. 31, 2024 $ 609.1 $ 0.0 1,480.3 $ (69.2) 0.0 (802.0)
Treasury stock, ending balance (in shares) at Mar. 31, 2024       8,000,000.0    
Beginning balance (in shares) at Dec. 31, 2024 160,100,000 160,100,000        
Beginning balance at Dec. 31, 2024 $ 597.4 $ 0.0 1,506.7 $ (49.1) 0.0 (860.2)
Treasury stock, beginning balance (in shares) at Dec. 31, 2024 5,200,000     (5,200,000)    
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Number of shares, exercised (in shares)   300,000   300,000    
Exercise of stock options $ 1.2 $ 0.0 (1.3) $ 2.5    
Vesting of restricted stock units, net of tax withholdings (6.2) $ (15.0)   $ 8.8    
Vesting of restricted stock units, net of tax withholdings (in shares)   900,000   (900,000)    
Stock-based compensation 25.9   25.9      
Other comprehensive income 0.0          
Net loss $ (7.8)         (7.8)
Ending balance (in shares) at Mar. 31, 2025 161,300,000 161,300,000        
Ending balance at Mar. 31, 2025 $ 610.5 $ 0.0 $ 1,516.3 $ (37.8) $ 0.0 $ (868.0)
Treasury stock, ending balance (in shares) at Mar. 31, 2025 4,000,000.0     4,000,000.0    
v3.25.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities:    
Net loss $ (7.8) $ (21.3)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 7.1 6.4
Stock-based compensation expense 24.2 27.9
Impairment of long-lived assets 0.3 0.0
Other (0.2) 0.4
Changes in operating assets and liabilities:    
Accounts receivable, net (0.1) 8.5
Prepaid expenses and other assets 0.8 (1.6)
Operating lease right-of-use assets 0.2 1.5
Accounts payable and accrued expenses (4.2) (0.6)
Accrued compensation and other liabilities (12.4) (5.0)
Operating lease liabilities 0.0 (2.2)
Deferred revenue 25.6 10.5
Net cash provided by operating activities 33.5 24.5
Cash flows from investing activities:    
Proceeds from maturities of marketable securities 0.0 66.0
Purchases of property, equipment, and software (0.5) (0.1)
Capitalized internal-use software costs (3.6) (4.1)
Purchases of content assets (4.1) (2.2)
Net cash provided by (used in) investing activities (8.2) 59.6
Cash flows from financing activities:    
Proceeds from exercise of stock options 1.2 4.1
Payments for repurchases of common stock 0.0 (5.6)
Payments for tax withholding on vesting of restricted stock units (6.2) (13.5)
Net cash used in financing activities (5.0) (15.0)
Net increase in cash, cash equivalents, and restricted cash 20.3 69.1
Cash, cash equivalents, and restricted cash—beginning of period 728.4 658.1
Cash, cash equivalents, and restricted cash—end of period 748.7 727.2
Supplemental disclosure of cash flow information:    
Cash paid for income taxes, net of refunds 0.2 1.1
Supplemental disclosure of noncash investing and financing activities:    
Stock-based compensation capitalized as internal-use software costs 1.7 1.8
Unpaid purchases of content assets $ 0.9 $ 1.1
v3.25.1
Basis of Presentation and Description of Business
 3 Months Ended
Mar. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Basis of Presentation and Description of Business BASIS OF PRESENTATION AND DESCRIPTION OF BUSINESS
Basis of Presentation
The accompanying Condensed Consolidated Financial Statements (Unaudited) of Coursera, Inc., a Delaware public benefit corporation, and its subsidiaries (“Coursera,” the “Company,” “we,” “us,” or “our”) have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) and following the requirements of the Securities and Exchange Commission (“SEC”) for interim reporting. As permitted under those rules, certain footnotes or other financial information that are normally required by GAAP can be condensed or omitted. These Condensed Consolidated Financial Statements (Unaudited) have been prepared on the same basis as our annual consolidated financial statements and, in the opinion of management, reflect all adjustments, consisting only of normal recurring adjustments, that are necessary for a fair statement of our financial information. The results of operations for the three months ended March 31, 2025 are not necessarily indicative of the results to be expected for the year ending December 31, 2025 or for any other interim period or for any other future year.
These Condensed Consolidated Financial Statements (Unaudited) should be read in conjunction with the Consolidated Financial Statements contained in our Annual Report on Form 10-K for the year ended December 31, 2024, which was filed with the SEC on February 24, 2025 (“Form 10-K”).
Description of Business
Coursera is an online learning platform that aims to provide access to world-class, affordable, and relevant education and skills training by connecting learners, institutions, and content creators in our ecosystem. We deliver branded content and product capabilities through an integrated platform that encompasses our global reach, data, and technology, making it customizable and extensible for both individual learners and institutions. We partner with university and industry partners (collectively, our “educator partners” or “content creators”) to provide high-quality adult education and training solutions to a wide range of individuals, businesses, organizations, and governments. We also sell directly to institutions, including employers, colleges and universities, organizations, and governments, enabling their employees, students, and citizens to gain critical skills aligned with job market needs. Our corporate headquarters is located in Mountain View, California.
Leadership Transition
Effective February 3, 2025, our Board of Directors (the “Board”) appointed Gregory Hart as our President, Chief Executive Officer (“CEO”), and a Class III director on our Board. Refer to Note 11 for additional information.
Reporting Segments
Our chief operating decision maker (“CODM”) is our CEO. In connection with Mr. Hart’s appointment as our CEO, we have simplified our business model and determined that our operations are conducted through two reporting segments: Consumer and Enterprise, which reflects how our CODM assesses performance and allocates resources. This updated structure enhances our CODM’s ability to allocate resources effectively and enables our CODM to make informed decisions that align with our strategic priorities, drive learner and customer satisfaction, and ultimately support business growth. This segment reporting change does not impact our Enterprise segment or consolidated results. Refer to Note 13 for additional information.
v3.25.1
Significant Accounting Policies
 3 Months Ended
Mar. 31, 2025
Accounting Policies [Abstract]  
Significant Accounting Policies SIGNIFICANT ACCOUNTING POLICIES
Principles of Consolidation
The Condensed Consolidated Financial Statements (Unaudited) include the Company and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation.
Summary of Significant Accounting Policies
There have been no significant changes to our significant accounting policies as of and for the three months ended March 31, 2025 as compared to the significant accounting policies described in our Form 10-K.
Concentrations of Risk
Financial instruments that potentially subject us to concentration of credit risk consist of cash and cash equivalents. We only invest in high-credit-quality instruments and maintain our cash equivalents in fixed-income securities. We place our cash primarily with domestic financial institutions that are federally insured within statutory limits.
For the purpose of assessing the concentration of credit risk with respect to accounts receivable and significant customers, we treat a group of customers under common control or customers that are affiliates of each other as a single customer. For the three months ended March 31, 2025 and 2024, we did not have any customers that accounted for more than 10% of our revenue. As of March 31, 2025, we did not have any customers that accounted for more than 10% of our net accounts receivable balance.
Our business model relies on educational content and credentialing programs from educator partners. Our largest educator partner has global brand recognition and supplies a variety of in-demand content across multiple domains. The loss of, or significant reduction in, this partnership or one of our other large educator partners could have a material adverse effect on our financial position, results of operations, and cash flows.
Use of Estimates
The preparation of the Condensed Consolidated Financial Statements (Unaudited) in conformity with GAAP requires management to make estimates, judgments, and assumptions that affect the reported amounts of assets and liabilities and related disclosures as of the date of the Condensed Consolidated Financial Statements (Unaudited), as well as the reported amounts of revenue and expenses during the reporting period. We base our estimates on historical experience, current conditions, and various other factors that we believe to be reasonable under the circumstances. Significant items subject to such estimates, judgments, and assumptions include, but are not limited to, those related to the determination of principal versus agent and variable consideration in our revenue contracts; stock-based compensation expense; period of benefit for capitalized commissions; internal-use software costs; useful lives of long-lived assets; the carrying value of operating lease right-of-use assets; the valuation of intangible assets; loss contingencies and potential recoveries; and income tax expense, including the valuation of deferred tax assets and liabilities, among others. Actual results could differ from those estimates, and any such differences could be material to our Condensed Consolidated Financial Statements (Unaudited).
Recent Accounting Pronouncements
Recently Issued Accounting Pronouncements Not Yet Adopted
In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which requires public entities on an annual basis to disclose (1) specific categories in the tax rate reconciliation and (2) income taxes paid disaggregated by jurisdiction. This ASU will be effective for annual reporting periods beginning with our fiscal year ending December 31, 2025, with early adoption permitted. The amendments should be applied on a prospective basis, though retrospective application is permitted. We preliminarily expect the new ASU to result in enhanced disclosure of disaggregated data about our tax payments within certain U.S. states, India, Canada, and the U.K. We are evaluating the components of our rate reconciliation to ensure disclosure of sufficient information to enable users of our financial statements to understand the nature and magnitude of factors contributing to the difference between the effective tax rate and the statutory tax rate.
In November 2024, the FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40), which requires disclosure, on an annual and interim basis, of specified disaggregated information about certain costs and expenses. Additionally, in January 2025, the FASB issued ASU 2025-01, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40), to clarify the effective date of ASU 2024-03. ASU 2024-03 will be effective for annual reporting periods beginning with our fiscal year ending December 31, 2027 and for interim reporting periods beginning with our fiscal quarter ending March 31, 2028, with early adoption permitted. The amendments may be applied either prospectively or retrospectively. We are currently evaluating the impact ASU 2024-03 will have on our financial statement disclosures.
v3.25.1
Revenue Recognition
 3 Months Ended
Mar. 31, 2025
Revenue from Contract with Customer [Abstract]  
Revenue Recognition REVENUE RECOGNITION
Deferred Revenue
Revenue recognized during the three months ended March 31, 2025 and 2024 that was included in the corresponding deferred revenue balance at the beginning of each year was $82.1 million and $70.3 million.
Remaining Performance Obligations
Remaining performance obligations represent contracted revenue that has not yet been recognized, which includes deferred revenue in the Condensed Consolidated Balance Sheets and unbilled amounts that will be recognized as revenue in future periods. As of March 31, 2025, we had remaining performance obligations of $330.2 million and expect to recognize approximately 73% as revenue over the next 12 months and the remainder thereafter.
Costs to Obtain and Fulfill Contracts
The following table presents our capitalization and amortization of commissions and related payroll tax expenditures recorded within sales and marketing in the Condensed Consolidated Statements of Operations:
Three Months Ended March 31,
Commissions and related payroll tax expenditures:20252024
Capitalization$1.7 $1.3 
Amortization$3.9 $3.6 
Deferred commissions and related payroll tax expenditures, which are included in deferred costs and other assets, were as follows:
March 31, 2025December 31, 2024
Deferred costs, net$13.2 $13.8 
Other assets$13.0 $14.6 
No impairment losses were recognized during the three months ended March 31, 2025 and 2024.
v3.25.1
Investments
 3 Months Ended
Mar. 31, 2025
Investments, Debt and Equity Securities [Abstract]  
Investments INVESTMENTS
Investments Measured at Fair Value on a Recurring Basis
The following table summarizes our investments measured at fair value on a recurring basis by balance sheet classification and investment type:
March 31, 2025December 31, 2024
Amortized
Cost		Fair
Value - Level 1		Amortized
Cost		Fair
Value - Level 1
Cash equivalents—money market funds$177.3 $177.3 $174.2 $174.2 
Cash equivalents—U.S. Treasury securities550.4 550.4 529.5 529.5 
Total cash equivalents$727.7 $727.7 $703.7 $703.7 
Gross unrealized and realized gains and losses related to our cash equivalents were not material for the three months ended March 31, 2025 and 2024.
Investments Measured at Fair Value on a Nonrecurring Basis
Our existing equity investments are remeasured at fair value on a nonrecurring basis when an identifiable event or change in circumstance may have a significant adverse impact on its fair value. No such events or changes occurred during the three months ended March 31, 2025 and 2024.
v3.25.1
Consolidated Balance Sheet Components
 3 Months Ended
Mar. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Consolidated Balance Sheet Components CONSOLIDATED BALANCE SHEET COMPONENTS
Restricted Cash
The reconciliation of cash, cash equivalents, and restricted cash was as follows:
March 31, 2025December 31, 2024
Cash and cash equivalents$748.0 $726.1 
Restricted cash, current— 1.6 
Restricted cash, non-current0.7 0.7 
Total cash, cash equivalents, and restricted cash$748.7 $728.4 
Accounts Receivable, Net
Accounts receivable, net consisted of the following:
March 31, 2025December 31, 2024
Billed accounts receivable, net of allowance for credit losses$48.0 $55.4 
Unbilled accounts receivable11.9 4.3 
Accounts receivable, net$59.9 $59.7 
Property, Equipment, and Software, Net
Property, equipment, and software, net consisted of the following:
March 31, 2025December 31, 2024
Internal-use software and website development$99.9 $94.6 
Computer equipment and purchased software4.5 4.7 
Leasehold improvements1.1 0.7 
Furniture and fixtures0.8 0.5 
Total property, equipment, and software106.3 100.5 
Less accumulated depreciation and amortization(68.4)(63.6)
Property, equipment, and software, net$37.9 $36.9 
The following table presents depreciation and amortization expense related to property, equipment, and software as well as the portion of amortization expense related to internal-use software and website development that is recorded within cost of revenue in the Condensed Consolidated Statements of Operations:
Three Months Ended March 31,
20252024
Depreciation and amortization expense$5.0 $5.3 
Amortization expense for internal-use software and website development4.7 4.8 
Intangible Assets, Net
Intangible assets, net consisted of the following:
March 31, 2025December 31, 2024
Gross
Carrying
Value		Accumulated
Amortization 		Net
Carrying
Value		Gross
Carrying
Value		Accumulated
Amortization 		Net
Carrying
Value
Content assets$33.7 $(9.3)$24.4 $31.2 $(7.6)$23.6 
Developed technology8.4 (7.9)0.5 8.4 (7.5)0.9 
Intangible assets$42.1 $(17.2)$24.9 $39.6 $(15.1)$24.5 
Capitalization of content assets and amortization expense for intangible assets were as follows:
Three Months Ended March 31,
20252024
Capitalization of content assets$2.8 $1.9 
Amortization expense for intangible assets$2.1 $1.1 
Impairment losses related to content assets were immaterial during the three months ended March 31, 2025 and 2024.
As of March 31, 2025, future expected amortization expense for intangible assets was as follows:
Remainder of 2025$6.5 
20266.1 
20274.8 
20284.4 
20293.0 
Thereafter0.1 
Total$24.9 
v3.25.1
Leases
 3 Months Ended
Mar. 31, 2025
Leases [Abstract]  
Leases LEASES
We have entered into various non-cancelable office space operating leases with lease periods expiring through June 2030. These leases do not contain residual value guarantees, covenants, or other restrictions.
In August 2024, we entered into a new operating lease agreement for office space in Mountain View, California to replace our existing headquarters lease, resulting in the recognition of an operating lease right-of-use asset and operating lease liability of $3.0 million. The lease term commenced in September 2024 and terminates in June 2030. The operating lease agreement includes an option to extend or terminate the lease, which is not reasonably certain to be exercised and therefore is not factored into the determination of lease payments.
v3.25.1
Income Taxes
 3 Months Ended
Mar. 31, 2025
Income Tax Disclosure [Abstract]  
Income Taxes INCOME TAXES
Income tax expense or benefit for interim periods is determined using an estimate of our annual effective tax rate, adjusted for discrete items, if any, that are considered in the relevant period. Each quarter, we update the estimate of the annual effective tax rate, and if the estimated tax rate changes, we record a cumulative adjustment.
Our effective tax rate for the three months ended March 31, 2025 and 2024 was (23.1%) and (4.0%). The difference between the effective tax rate and the U.S. federal statutory rate is primarily due to a valuation allowance for our federal and state net deferred tax assets, income taxes on foreign operations, U.S. state income taxes, and stock-based compensation expense.
As of March 31, 2025, we continued to have a full valuation allowance against our U.S. federal and state deferred tax assets. Management regularly evaluates the realizability of our deferred tax assets. Adjustments are recorded to income during the period in which management makes the determination a deferred tax asset is more likely than not to be realized.
v3.25.1
Net Loss Per Share
 3 Months Ended
Mar. 31, 2025
Earnings Per Share [Abstract]  
Net Loss Per Share NET LOSS PER SHARE
The following table presents the calculation of basic and diluted net loss per share:
Three Months Ended March 31,
20252024
Numerator:
Net loss$(7.8)$(21.3)
Denominator:
Weighted-average shares used in computing net loss per share—basic and diluted160.7156.4
Net loss per share—basic and diluted$(0.05)$(0.14)
The following potentially dilutive securities were excluded from the computation of diluted net loss per share calculations for the periods presented because the impact of including them would have been anti-dilutive:
Three Months Ended March 31,
20252024
Restricted stock units (“RSUs”)
19.621.2
Common stock options 13.99.9
ESPP stock purchase rights (“ESPP Rights”)
0.50.4
Performance stock units (“PSUs”)
0.40.3
Total34.431.8
v3.25.1
Commitments and Contingencies
 3 Months Ended
Mar. 31, 2025
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies COMMITMENTS AND CONTINGENCIES
Purchase Obligations
Our purchase obligations primarily relate to a third-party cloud infrastructure agreement, subscription arrangements, and service agreements used to facilitate our operations. As of March 31, 2025, we had approximately $10.7 million in future minimum payments due under our non-cancelable purchase obligations with a remaining term in excess of one year. These are expected to be paid through 2026.
Legal Proceedings
From time to time, we may be subject to legal proceedings, as well as demands, claims, and threatened litigation. The outcomes of legal proceedings and other contingencies are inherently unpredictable, subject to significant uncertainties, and could be material to our operating results and cash flows for a particular period. Regardless of the outcome, litigation can have an adverse impact on our business because of defense and settlement costs, diversion of management resources, and other factors. Other than the matters described below, we are not currently party to any legal proceeding that we believe, as of the filing of this Quarterly Report on Form 10-Q, could have a material adverse effect on our business, operating results, cash flows, or financial condition should such litigation or claim be resolved unfavorably.
We regularly review the status of each significant matter and assess its potential likelihood of loss or exposure. We record an accrual for loss contingencies for legal proceedings when we believe that an unfavorable outcome is both (i) probable and (ii) reasonably estimable in terms of the amount or range of any possible loss. The actual liability in any such matters may be materially different from the Company’s estimates, if any, which could result in the need to adjust the liability and record additional expenses.
Privacy Arbitration Matters
Law firms representing a significant number of purported claimants have threatened to file or filed arbitration demands for alleged violations of the Video Privacy Protection Act (“VPPA”) and allege, among other things, that without consent or knowledge of the plaintiffs, Coursera disclosed the video viewing history and certain other information of the plaintiffs to a third-party company and made similar disclosures without the knowledge or consent of other unidentified users. Certain firms also claim violations of the Electronic Communications Privacy Act, the California Invasion of Privacy Act, and/or various state wiretapping and unfair or deceptive practices laws. Under the VPPA, each claimant may be entitled to recover damages for each alleged violation of the VPPA, as well as punitive damages, attorneys’ fees and costs, and equitable relief. Without admitting to any liability or wrongdoing, we settled claims with a substantial portion of these claimants in the fourth quarter of 2024 for $4.7 million, for which we recovered the full amount with insurance proceeds. Additionally, we entered into a settlement agreement in principle with the majority of the remaining claimants in January 2025 for $4.5 million. The remaining arbitration claims are not considered material.

While we maintain insurance policies intended to provide coverage for the aforementioned claims and have notified our insurance carriers about these claims, there can be no assurance regarding if or to what extent our insurance may cover such claims or any future claims. With respect to certain of the VPPA matters, inclusive of the aforementioned settlements, we have accrued $4.8 million within other current liabilities on the Condensed Consolidated Balance Sheets as of March 31, 2025.
Legal fees related to these matters were insignificant during the three months ended March 31, 2025 and 2024.

Indemnifications
In the normal course of business, we enter into contracts and agreements that contain a variety of representations and warranties and provide for the potential of general indemnification obligations. Our exposure under these agreements is unknown because it involves future claims that may be made against us but have not yet been made. To date, we have not paid any material claims and have not been required to defend any actions related to our indemnification obligations; however, we may record charges in the future as a result of these indemnification obligations. In addition, we have indemnification agreements with certain of our directors, executive officers, and other employees that require us, among other things, to indemnify them against certain liabilities that may arise by reason of their status or service with Coursera. The terms of such obligations may vary.
v3.25.1
Stockholders' Equity
 3 Months Ended
Mar. 31, 2025
Equity [Abstract]  
Stockholders' Equity STOCKHOLDERS’ EQUITY
Share Repurchase Program
On April 26, 2023, the Board approved a share repurchase program with authorization to purchase up to $95.0 million of our common stock, excluding commissions and fees. We funded these share repurchases with our existing cash and cash equivalents and completed the purchase authorization on May 7, 2024.
During the three months ended March 31, 2024, we repurchased an aggregate of approximately 0.4 million shares of our common stock for $6.0 million under the aforementioned program.
v3.25.1
Employee Benefit Plans
 3 Months Ended
Mar. 31, 2025
Retirement Benefits [Abstract]  
Employee Benefit Plans
11.    EMPLOYEE BENEFIT PLANS
Stock Incentive Plans
As of March 31, 2025, 15.7 million shares and 6.7 million shares of our common stock were reserved for future issuance under our 2021 Stock Incentive Plan (the “2021 Plan”) and 2021 Employee Stock Purchase Plan (the “ESPP”). Shares issuable under the 2021 Plan and the ESPP may be drawn from authorized but unissued shares or from treasury stock. In 2024, we began settling stock option exercises, vesting of RSUs, and ESPP purchases by reissuing shares of our common stock from treasury stock.
CEO Transition
As described in Note 1, Mr. Hart was appointed on February 3, 2025 (the “Start Date”) as our President, CEO, and a Class III director on our Board. Pursuant to the terms of his offer letter, the Board granted Mr. Hart new hire equity awards consisting of approximately 1.9 million RSUs, 3.7 million service-based stock options, and 1.4 million performance-based stock options. The RSUs are scheduled to vest over four years, with 25% vesting on the first anniversary of the Start Date, 6.25% vesting on February 15, 2026, and the remainder vesting in equal quarterly installments thereafter, subject to Mr. Hart’s continued employment through each vesting date. The service-based stock options have an exercise price of $7.81 per share of common stock and are scheduled to vest over four years, with 25% vesting on the first anniversary of the Start Date and the remainder vesting in equal quarterly installments thereafter, subject to continued employment. The performance-based stock options also have an exercise price of $7.81 per share of common stock and are scheduled to vest upon satisfaction of both service- and market-based vesting conditions. The service-based vesting condition is consistent with the vesting schedule of the service-based stock options, and the market-based vesting condition is satisfied when the trailing simple moving average closing price of the Company’s common stock over a 60-trading day period equals or exceeds $12.81 per share.
We estimated the grant date fair value of the service-based stock options utilizing the Black-Scholes option-pricing model, resulting in a fair value of $4.47 per share. The Black-Scholes model considers several variables and assumptions in estimating the fair value of options, including the exercise price, expected term, risk-free interest rate, and expected stock price volatility over the expected term.
The grant date fair value of the performance-based stock options was estimated using a Monte Carlo simulation model, resulting in a fair value of $4.91 per share and a derived service period of 1.8 years. We are recognizing the related stock-based compensation expense using the accelerated attribution method, which recognizes the fair value of each vesting tranche over the longer of the derived service period and contractual vesting period.
In connection with the CEO transition, we entered into separation and advisory agreements with our former CEO. The advisory agreement runs through August 15, 2025. During this period, he will continue to vest in his stock awards, and the exercise period of his outstanding vested stock options will be extended through August 3, 2026. This modification of his stock-based awards coupled with a non-substantive service period resulted in the recognition of $4.1 million of stock-based compensation expense during the three months ended March 31, 2025. The separation agreement also includes other benefits, which are not considered material.
Stock Options
We grant stock options at prices equal to the grant date fair value. Typically, these stock options expire ten years from the grant date and vest ratably over a four-year service period.
Stock option activity for the three months ended March 31, 2025 was as follows:
Number of
Shares 		Weighted-
Average
Exercise
Price		Weighted-
Average
Remaining
Contractual
Term
(in Years)		Aggregate
Intrinsic
Value
Balance—December 31, 20249.1 $7.64 4.97$25.3 
Granted5.2 7.81 
Exercised(0.3)4.46 
Canceled(0.1)24.14 
Balance—March 31, 202513.9 $7.67 6.59$13.5 
Options vested7.6 $7.03 4.08$13.5 
RSUs and PSUs
RSUs have a service-based vesting condition, which is satisfied generally either (i) over four years with a 25% cliff vesting period after one year and 6.25% vesting each quarter thereafter for new hires, or (ii) over four years with 6.25% vesting each quarter for new grants to existing employees. The related stock-based compensation expense is recognized on a straight-line basis over the requisite service period.
In March 2025 and 2024, we granted PSUs to certain executives under the 2021 Plan. PSU grants have both performance and service-based vesting conditions. The ultimate number of units that will vest is determined based on the achievement of annual revenue against a pre-established target (with defined threshold and maximum amounts ranging from 50% to 150% of target). If annual revenue is below the threshold amount, none of the PSUs will vest. If annual revenue is equal to or exceeds the threshold amount, 25% of the PSUs ultimately granted will vest after one year, and 6.25% of the remaining PSUs will vest quarterly over the subsequent three years. The fair value of each unit is determined on the grant date, and the related stock-based compensation expense is recognized using the accelerated attribution method. We evaluate the vesting conditions on a quarterly basis and recognize stock-based compensation expense if the achievement of the performance condition is probable.
RSU and PSU activity for the three months ended March 31, 2025 was as follows:
RSUsPSUs
Number of
Units		Weighted-Average
Grant Date Fair Value		Aggregate
Intrinsic
Value		Number of
Units		Weighted-Average
Grant Date Fair Value		Aggregate
Intrinsic
Value
Unvested balance—December 31, 202416.1 $12.82 $136.7 0.3 $14.36 $2.2 
Granted(1)
6.8 7.38 0.3 7.12 
Vested(2)
(1.6)16.22 (0.1)14.36 
Forfeited(3)
(1.7)13.20 (0.1)14.36 
Unvested balance—March 31, 202519.6 $10.63 $130.6 0.4 $9.53 $2.9 

(1) For PSUs, the amount presented as the number of units granted is based on the performance condition being achieved at the target level. Once the performance period is complete, the number of units that will vest may range from 0% to 150% of the target amount based on actual performance.

(2) Includes 0.2 million units or 83.85% of PSUs granted in March 2024, certified as vested by our Human Resources and Compensation Committee in February 2025 based on attainment against the pre-established annual revenue target.

(3) Forfeited PSUs include awards forfeited due to the failure to meet service-based vesting conditions and those that did not satisfy the performance-based vesting condition. The latter represents the difference between the PSUs granted at target and the number of units vested based on the attainment against the pre-established annual revenue target.
Stock-Based Compensation Expense
Stock-based compensation expense is classified in the Condensed Consolidated Statements of Operations as follows:
Three Months Ended March 31,
20252024
Cost of revenue$0.7 $0.7 
Research and development8.6 11.0 
Sales and marketing4.9 7.9 
General and administrative11.6 8.3 
Restructuring related charges(1.6)— 
Total$24.2 $27.9 
We capitalized $1.7 million and $1.8 million of stock-based compensation related to our internal-use software during the three months ended March 31, 2025 and 2024.
The table below presents unrecognized employee compensation cost related to unvested shares and the weighted-average period over which it is expected to be recognized:
March 31, 2025
Unrecognized Employee Compensation Cost Related to Unvested SharesWeighted-Average Period Over Which the Compensation Is Expected to Be Recognized
(in Years)
RSUs
$190.0 2.7
Common stock options29.1 3.5
ESPP Rights
4.4 1.0
PSUs
3.2 3.6
Common Stock Reserved for Issuance
The following table presents total shares of our common stock reserved for future issuance:
March 31, 2025December 31, 2024
RSUs outstanding19.616.1
Stock options outstanding13.99.1
PSUs outstanding0.40.3
Shares available for future grants22.422.5
Total shares of common stock reserved56.347.9
401(k) Plan
We have a 401(k) savings plan that provides for a discretionary employer-matching contribution. We made matching contributions of $0.9 million to the plan for the three months ended March 31, 2025 and 2024.
v3.25.1
Related-Party Transaction
 3 Months Ended
Mar. 31, 2025
Related Party Transactions [Abstract]  
Related-Party Transaction RELATED PARTY TRANSACTIONS We have a content sourcing agreement with DeepLearning.AI Corp (“DeepLearning.AI”), which was entered into in the normal course of business and under standard terms. Dr. Andrew Ng, one of our co-founders and Chairman of our Board, owns DeepLearning.AI. Content fees earned by DeepLearning.AI during the three months ended March 31, 2025 and 2024 were $2.2 million and $2.3 million and were recorded within cost of revenue in the Condensed Consolidated Statements of Operations. As of March 31, 2025 and December 31, 2024, outstanding educator partner payables related to this content sourcing agreement were $2.2 million and $4.1 million.
v3.25.1
Segment and Geographic Information
 3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
Segment and Geographic Information SEGMENT AND GEOGRAPHIC INFORMATION
Segment Information
As disclosed in Note 1, our CODM is our CEO. Under our new CEO’s leadership, we have simplified our business model to better reflect our focus on serving adult learners at every stage. This includes a broad set of offerings that span from standalone courses to university degrees. As a part of this strategy, degrees has been incorporated into our Consumer segment as another product category that supports our learners. These changes aim to ensure that our investments effectively serve a broad audience of learners.
Beginning in fiscal year 2025, due to the simplification of our business model and the change in how our CODM assesses performance and allocates resources, we have identified two reporting segments: Consumer and Enterprise. This is also consistent with how we disaggregate revenue. The segment reporting change does not impact our Enterprise segment or consolidated results. We have recast all prior-period segment information to align with our current segment presentation.
Our CODM primarily measures each segment’s performance based on revenue and gross profit. Segment gross profit, as presented below, is defined as segment revenue less segment content costs within cost of revenue. These costs are considered significant segment expenses that are regularly reviewed by our CODM. Other costs of revenue, including platform operation and maintenance costs, amortization of internal-use software and intangible assets, and stock-based compensation expense, are managed on an enterprise-wide basis and not reported by segment. In addition, we do not report operating expenses, other income (expense), net, or income tax expense (benefit) by segment because our CODM reviews this financial information on a consolidated basis.
Our CODM does not use segment-level asset information to assess performance or allocate resources. Therefore, we do not track our long-lived assets by segment. The geographic identification of these assets is provided below.
Financial information for each reportable segment was as follows:
Three Months Ended March 31,
20252024
ConsumerEnterpriseConsolidatedConsumerEnterpriseConsolidated
Revenue$117.6 $61.7 $179.3 $111.6 $57.5 $169.1 
Segment content costs45.2 18.5 63.7 45.0 18.4 63.4 
Segment gross profit$72.4 $43.2 $115.6 $66.6 $39.1 $105.7 
Segment gross profit margin61.6 %70.0 %64.5 %59.7 %68.0 %62.5 %
Other costs of revenue:
Platform operation and maintenance costs10.2 9.6 
Amortization of internal-use software4.7 4.8 
Amortization of intangible assets2.1 1.1 
Stock-based compensation expense0.7 0.7 
Cost of revenue$81.4 $79.6 
Gross profit$97.9 $89.5 
Gross profit margin54.6 %52.9 %
Geographic Information
Revenue
The following table summarizes the revenue by region based on the billing address of our customers:
Three Months Ended March 31,
20252024
United States$93.0 $92.4 
Europe, Middle East, and Africa43.4 39.2 
Asia Pacific24.8 21.1 
Other18.1 16.4 
Total$179.3 $169.1 
No single country other than the United States represented 10% or more of our total revenue during the three months ended March 31, 2025 and 2024.
Long-lived Assets
The following table presents our long-lived assets, consisting of property, equipment, and software, net of depreciation and amortization, and operating lease right-of-use assets, by geographic region:
March 31, 2025December 31, 2024
United States$40.1 $39.0 
Rest of World0.6 0.9 
Total$40.7 $39.9 
v3.25.1
Restructuring Related Charges
 3 Months Ended
Mar. 31, 2025
Restructuring and Related Activities [Abstract]  
Restructuring Related Charges RESTRUCTURING RELATED CHARGES
During 2024 and the first quarter of 2025, in alignment with our efforts to refine our business strategy and hone our focus, we reduced our expenses and prioritized investments in key initiatives expected to drive long-term, sustainable growth.
In January 2024, we implemented a plan to restructure our Enterprise segment sales force and recognized restructuring related charges of $2.1 million during the three months ended March 31, 2024. Related cash payments of $1.8 million were made during the same period and reflected as cash used in operating activities within our Condensed Consolidated Statements of Cash Flows.
In October 2024, we announced a commitment to further reduce overall expenses, focus our efforts, and prioritize future investments in key initiatives that we expect will drive long-term, sustainable growth. This initiative resulted in a reduction of our global workforce by approximately 9%, creating capacity for targeted investments, as well as incremental profitability. In the fourth quarter of 2024, we recognized restructuring related charges of $6.8 million, mainly consisting of personnel expenses such as severance and benefits, and paid $2.7 million. During the three months ended March 31, 2025, we recognized incremental charges of $0.7 million, made cash payments of $5.2 million, and also recognized a reversal of stock-based compensation expense of $1.6 million due to the forfeiture of RSUs and stock options. As of March 31, 2025, an insignificant amount remains unpaid.
v3.25.1
Pay vs Performance Disclosure - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Pay vs Performance Disclosure    
Net loss $ (7.8) $ (21.3)
v3.25.1
Insider Trading Arrangements
 3 Months Ended
Mar. 31, 2025
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.25.1
Significant Accounting Policies (Policies)
 3 Months Ended
Mar. 31, 2025
Accounting Policies [Abstract]  
Basis of Presentation
Basis of Presentation
The accompanying Condensed Consolidated Financial Statements (Unaudited) of Coursera, Inc., a Delaware public benefit corporation, and its subsidiaries (“Coursera,” the “Company,” “we,” “us,” or “our”) have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) and following the requirements of the Securities and Exchange Commission (“SEC”) for interim reporting. As permitted under those rules, certain footnotes or other financial information that are normally required by GAAP can be condensed or omitted. These Condensed Consolidated Financial Statements (Unaudited) have been prepared on the same basis as our annual consolidated financial statements and, in the opinion of management, reflect all adjustments, consisting only of normal recurring adjustments, that are necessary for a fair statement of our financial information. The results of operations for the three months ended March 31, 2025 are not necessarily indicative of the results to be expected for the year ending December 31, 2025 or for any other interim period or for any other future year.
These Condensed Consolidated Financial Statements (Unaudited) should be read in conjunction with the Consolidated Financial Statements contained in our Annual Report on Form 10-K for the year ended December 31, 2024, which was filed with the SEC on February 24, 2025 (“Form 10-K”).
Reporting Segments
Reporting Segments
Our chief operating decision maker (“CODM”) is our CEO. In connection with Mr. Hart’s appointment as our CEO, we have simplified our business model and determined that our operations are conducted through two reporting segments: Consumer and Enterprise, which reflects how our CODM assesses performance and allocates resources. This updated structure enhances our CODM’s ability to allocate resources effectively and enables our CODM to make informed decisions that align with our strategic priorities, drive learner and customer satisfaction, and ultimately support business growth. This segment reporting change does not impact our Enterprise segment or consolidated results. Refer to Note 13 for additional information.
Principles of Consolidation
Principles of Consolidation
The Condensed Consolidated Financial Statements (Unaudited) include the Company and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation.
Concentration of Risk
Concentrations of Risk
Financial instruments that potentially subject us to concentration of credit risk consist of cash and cash equivalents. We only invest in high-credit-quality instruments and maintain our cash equivalents in fixed-income securities. We place our cash primarily with domestic financial institutions that are federally insured within statutory limits.
For the purpose of assessing the concentration of credit risk with respect to accounts receivable and significant customers, we treat a group of customers under common control or customers that are affiliates of each other as a single customer. For the three months ended March 31, 2025 and 2024, we did not have any customers that accounted for more than 10% of our revenue. As of March 31, 2025, we did not have any customers that accounted for more than 10% of our net accounts receivable balance.
Our business model relies on educational content and credentialing programs from educator partners. Our largest educator partner has global brand recognition and supplies a variety of in-demand content across multiple domains. The loss of, or significant reduction in, this partnership or one of our other large educator partners could have a material adverse effect on our financial position, results of operations, and cash flows.
Use of Estimates
Use of Estimates
The preparation of the Condensed Consolidated Financial Statements (Unaudited) in conformity with GAAP requires management to make estimates, judgments, and assumptions that affect the reported amounts of assets and liabilities and related disclosures as of the date of the Condensed Consolidated Financial Statements (Unaudited), as well as the reported amounts of revenue and expenses during the reporting period. We base our estimates on historical experience, current conditions, and various other factors that we believe to be reasonable under the circumstances. Significant items subject to such estimates, judgments, and assumptions include, but are not limited to, those related to the determination of principal versus agent and variable consideration in our revenue contracts; stock-based compensation expense; period of benefit for capitalized commissions; internal-use software costs; useful lives of long-lived assets; the carrying value of operating lease right-of-use assets; the valuation of intangible assets; loss contingencies and potential recoveries; and income tax expense, including the valuation of deferred tax assets and liabilities, among others. Actual results could differ from those estimates, and any such differences could be material to our Condensed Consolidated Financial Statements (Unaudited).
Recent Accounting Pronouncements
Recent Accounting Pronouncements
Recently Issued Accounting Pronouncements Not Yet Adopted
In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which requires public entities on an annual basis to disclose (1) specific categories in the tax rate reconciliation and (2) income taxes paid disaggregated by jurisdiction. This ASU will be effective for annual reporting periods beginning with our fiscal year ending December 31, 2025, with early adoption permitted. The amendments should be applied on a prospective basis, though retrospective application is permitted. We preliminarily expect the new ASU to result in enhanced disclosure of disaggregated data about our tax payments within certain U.S. states, India, Canada, and the U.K. We are evaluating the components of our rate reconciliation to ensure disclosure of sufficient information to enable users of our financial statements to understand the nature and magnitude of factors contributing to the difference between the effective tax rate and the statutory tax rate.
In November 2024, the FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40), which requires disclosure, on an annual and interim basis, of specified disaggregated information about certain costs and expenses. Additionally, in January 2025, the FASB issued ASU 2025-01, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40), to clarify the effective date of ASU 2024-03. ASU 2024-03 will be effective for annual reporting periods beginning with our fiscal year ending December 31, 2027 and for interim reporting periods beginning with our fiscal quarter ending March 31, 2028, with early adoption permitted. The amendments may be applied either prospectively or retrospectively. We are currently evaluating the impact ASU 2024-03 will have on our financial statement disclosures.
v3.25.1
Revenue Recognition (Tables)
 3 Months Ended
Mar. 31, 2025
Revenue from Contract with Customer [Abstract]  
Schedule of Capitalized Contract Cost
The following table presents our capitalization and amortization of commissions and related payroll tax expenditures recorded within sales and marketing in the Condensed Consolidated Statements of Operations:
Three Months Ended March 31,
Commissions and related payroll tax expenditures:20252024
Capitalization$1.7 $1.3 
Amortization$3.9 $3.6 
Schedule of Deferred Costs, Net and Other Assets Disclosure
Deferred commissions and related payroll tax expenditures, which are included in deferred costs and other assets, were as follows:
March 31, 2025December 31, 2024
Deferred costs, net$13.2 $13.8 
Other assets$13.0 $14.6 
v3.25.1
Investments (Tables)
 3 Months Ended
Mar. 31, 2025
Investments, Debt and Equity Securities [Abstract]  
Summary of Available-for-Sale Marketable Securities
The following table summarizes our investments measured at fair value on a recurring basis by balance sheet classification and investment type:
March 31, 2025December 31, 2024
Amortized
Cost		Fair
Value - Level 1		Amortized
Cost		Fair
Value - Level 1
Cash equivalents—money market funds$177.3 $177.3 $174.2 $174.2 
Cash equivalents—U.S. Treasury securities550.4 550.4 529.5 529.5 
Total cash equivalents$727.7 $727.7 $703.7 $703.7 
v3.25.1
Consolidated Balance Sheet Components (Tables)
 3 Months Ended
Mar. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Cash and Cash Equivalents
The reconciliation of cash, cash equivalents, and restricted cash was as follows:
March 31, 2025December 31, 2024
Cash and cash equivalents$748.0 $726.1 
Restricted cash, current— 1.6 
Restricted cash, non-current0.7 0.7 
Total cash, cash equivalents, and restricted cash$748.7 $728.4 
Schedule of Contract Assets and Liabilities
Accounts receivable, net consisted of the following:
March 31, 2025December 31, 2024
Billed accounts receivable, net of allowance for credit losses$48.0 $55.4 
Unbilled accounts receivable11.9 4.3 
Accounts receivable, net$59.9 $59.7 
Schedule of Property, Equipment and Software, Net
Property, equipment, and software, net consisted of the following:
March 31, 2025December 31, 2024
Internal-use software and website development$99.9 $94.6 
Computer equipment and purchased software4.5 4.7 
Leasehold improvements1.1 0.7 
Furniture and fixtures0.8 0.5 
Total property, equipment, and software106.3 100.5 
Less accumulated depreciation and amortization(68.4)(63.6)
Property, equipment, and software, net$37.9 $36.9 
Schedule of Depreciation and Amortization Expense
The following table presents depreciation and amortization expense related to property, equipment, and software as well as the portion of amortization expense related to internal-use software and website development that is recorded within cost of revenue in the Condensed Consolidated Statements of Operations:
Three Months Ended March 31,
20252024
Depreciation and amortization expense$5.0 $5.3 
Amortization expense for internal-use software and website development4.7 4.8 
Schedule of Intangible Assets, Net
Intangible assets, net consisted of the following:
March 31, 2025December 31, 2024
Gross
Carrying
Value		Accumulated
Amortization 		Net
Carrying
Value		Gross
Carrying
Value		Accumulated
Amortization 		Net
Carrying
Value
Content assets$33.7 $(9.3)$24.4 $31.2 $(7.6)$23.6 
Developed technology8.4 (7.9)0.5 8.4 (7.5)0.9 
Intangible assets$42.1 $(17.2)$24.9 $39.6 $(15.1)$24.5 
Schedule of Capitalization of Content Assets and Amortization Expense for Intangible Assets
Capitalization of content assets and amortization expense for intangible assets were as follows:
Three Months Ended March 31,
20252024
Capitalization of content assets$2.8 $1.9 
Amortization expense for intangible assets$2.1 $1.1 
Schedule of Future Expected Amortization Expense for Intangible Assets
As of March 31, 2025, future expected amortization expense for intangible assets was as follows:
Remainder of 2025$6.5 
20266.1 
20274.8 
20284.4 
20293.0 
Thereafter0.1 
Total$24.9 
v3.25.1
Net Loss Per Share (Tables)
 3 Months Ended
Mar. 31, 2025
Earnings Per Share [Abstract]  
Schedule of Basic and Diluted Net Loss Per Share
The following table presents the calculation of basic and diluted net loss per share:
Three Months Ended March 31,
20252024
Numerator:
Net loss$(7.8)$(21.3)
Denominator:
Weighted-average shares used in computing net loss per share—basic and diluted160.7156.4
Net loss per share—basic and diluted$(0.05)$(0.14)
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share
The following potentially dilutive securities were excluded from the computation of diluted net loss per share calculations for the periods presented because the impact of including them would have been anti-dilutive:
Three Months Ended March 31,
20252024
Restricted stock units (“RSUs”)
19.621.2
Common stock options 13.99.9
ESPP stock purchase rights (“ESPP Rights”)
0.50.4
Performance stock units (“PSUs”)
0.40.3
Total34.431.8
v3.25.1
Employee Benefit Plans (Tables)
 3 Months Ended
Mar. 31, 2025
Retirement Benefits [Abstract]  
Schedule of Stock Option Activity
Stock option activity for the three months ended March 31, 2025 was as follows:
Number of
Shares 		Weighted-
Average
Exercise
Price		Weighted-
Average
Remaining
Contractual
Term
(in Years)		Aggregate
Intrinsic
Value
Balance—December 31, 20249.1 $7.64 4.97$25.3 
Granted5.2 7.81 
Exercised(0.3)4.46 
Canceled(0.1)24.14 
Balance—March 31, 202513.9 $7.67 6.59$13.5 
Options vested7.6 $7.03 4.08$13.5 
Share-Based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity
RSU and PSU activity for the three months ended March 31, 2025 was as follows:
RSUsPSUs
Number of
Units		Weighted-Average
Grant Date Fair Value		Aggregate
Intrinsic
Value		Number of
Units		Weighted-Average
Grant Date Fair Value		Aggregate
Intrinsic
Value
Unvested balance—December 31, 202416.1 $12.82 $136.7 0.3 $14.36 $2.2 
Granted(1)
6.8 7.38 0.3 7.12 
Vested(2)
(1.6)16.22 (0.1)14.36 
Forfeited(3)
(1.7)13.20 (0.1)14.36 
Unvested balance—March 31, 202519.6 $10.63 $130.6 0.4 $9.53 $2.9 
Schedule of Stock-Based Compensation Expense in the Consolidated Statements of Operations
Stock-based compensation expense is classified in the Condensed Consolidated Statements of Operations as follows:
Three Months Ended March 31,
20252024
Cost of revenue$0.7 $0.7 
Research and development8.6 11.0 
Sales and marketing4.9 7.9 
General and administrative11.6 8.3 
Restructuring related charges(1.6)— 
Total$24.2 $27.9 
The table below presents unrecognized employee compensation cost related to unvested shares and the weighted-average period over which it is expected to be recognized:
March 31, 2025
Unrecognized Employee Compensation Cost Related to Unvested SharesWeighted-Average Period Over Which the Compensation Is Expected to Be Recognized
(in Years)
RSUs
$190.0 2.7
Common stock options29.1 3.5
ESPP Rights
4.4 1.0
PSUs
3.2 3.6
Schedule of Shares of Common Stock Reserved for Future Issuance
The following table presents total shares of our common stock reserved for future issuance:
March 31, 2025December 31, 2024
RSUs outstanding19.616.1
Stock options outstanding13.99.1
PSUs outstanding0.40.3
Shares available for future grants22.422.5
Total shares of common stock reserved56.347.9
v3.25.1
Segment and Geographic Information (Tables)
 3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
Schedule of Financial Information for Each Reportable Segment
Financial information for each reportable segment was as follows:
Three Months Ended March 31,
20252024
ConsumerEnterpriseConsolidatedConsumerEnterpriseConsolidated
Revenue$117.6 $61.7 $179.3 $111.6 $57.5 $169.1 
Segment content costs45.2 18.5 63.7 45.0 18.4 63.4 
Segment gross profit$72.4 $43.2 $115.6 $66.6 $39.1 $105.7 
Segment gross profit margin61.6 %70.0 %64.5 %59.7 %68.0 %62.5 %
Other costs of revenue:
Platform operation and maintenance costs10.2 9.6 
Amortization of internal-use software4.7 4.8 
Amortization of intangible assets2.1 1.1 
Stock-based compensation expense0.7 0.7 
Cost of revenue$81.4 $79.6 
Gross profit$97.9 $89.5 
Gross profit margin54.6 %52.9 %
Schedule of Revenue by Region Based on Billing Address
The following table summarizes the revenue by region based on the billing address of our customers:
Three Months Ended March 31,
20252024
United States$93.0 $92.4 
Europe, Middle East, and Africa43.4 39.2 
Asia Pacific24.8 21.1 
Other18.1 16.4 
Total$179.3 $169.1 
Schedule of Long-lived Assets by Geographic Region
The following table presents our long-lived assets, consisting of property, equipment, and software, net of depreciation and amortization, and operating lease right-of-use assets, by geographic region:
March 31, 2025December 31, 2024
United States$40.1 $39.0 
Rest of World0.6 0.9 
Total$40.7 $39.9 
v3.25.1
Basis of Presentation and Description of Business - Additional Information (Details)
 3 Months Ended
Mar. 31, 2025
segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Number of segments 2
v3.25.1
Revenue Recognition - Additional Information (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Disaggregation of Revenue [Line Items]    
Revenue Recognized $ 82,100 $ 70,300
Contract cost impairment loss 0 $ 0
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-04-01    
Disaggregation of Revenue [Line Items]    
Remaining performance obligation $ 330,200  
Percent of remaining performance obligations to be recognized 73.00%  
Period for satisfaction of remaining performance obligation 12 months  
v3.25.1
Revenue Recognition - Schedule of Capitalized Contract Cost (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Revenue from Contract with Customer [Abstract]    
Capitalization $ 1.7 $ 1.3
Amortization $ 3.9 $ 3.6
v3.25.1
Revenue Recognition - Schedule of Deferred Costs, Net and Other Assets Disclosure (Details) - USD ($)
$ in Millions
Mar. 31, 2025
Dec. 31, 2024
Revenue from Contract with Customer [Abstract]    
Deferred costs, net $ 13.2 $ 13.8
Other assets $ 13.0 $ 14.6
v3.25.1
Investments - Summary of Available-for-Sale Marketable Securities (Details) - Cash and Cash Equivalents - USD ($)
$ in Millions
Mar. 31, 2025
Dec. 31, 2024
Schedule Of Available For Sale Securities [Line Items]    
Amortized Cost $ 727.7 $ 703.7
Fair Value - Level 1 727.7 703.7
Cash equivalents—money market funds    
Schedule Of Available For Sale Securities [Line Items]    
Amortized Cost 177.3 174.2
Fair Value - Level 1 177.3 174.2
Marketable securities—U.S. Treasury securities    
Schedule Of Available For Sale Securities [Line Items]    
Amortized Cost 550.4 529.5
Fair Value - Level 1 $ 550.4 $ 529.5
v3.25.1
Consolidated Balance Sheet Components - Schedule of Reconciliation of Cash, Cash Equivalents, and Restricted Cash (Details) - USD ($)
$ in Millions
Mar. 31, 2025
Dec. 31, 2024
Mar. 31, 2024
Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]        
Cash and cash equivalents $ 748.0 $ 726.1    
Restricted cash, current 0.0 1.6    
Restricted cash, non-current 0.7 0.7    
Total cash, cash equivalents, and restricted cash $ 748.7 $ 728.4 $ 727.2 $ 658.1
v3.25.1
Consolidated Balance Sheet Components (Details) - USD ($)
$ in Millions
Mar. 31, 2025
Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]    
Billed accounts receivable, net of allowance for credit losses $ 48.0 $ 55.4
Unbilled accounts receivable 11.9 4.3
Accounts receivable, net $ 59.9 $ 59.7
v3.25.1
Consolidated Balance Sheet Components - Schedule of Property, Equipment and Software, Net (Details) - USD ($)
$ in Millions
Mar. 31, 2025
Dec. 31, 2024
Property Plant And Equipment [Line Items]    
Total property, equipment, and software $ 106.3 $ 100.5
Less accumulated depreciation and amortization (68.4) (63.6)
Property, equipment, and software, net 37.9 36.9
Internal-use software and website development    
Property Plant And Equipment [Line Items]    
Total property, equipment, and software 99.9 94.6
Computer equipment and purchased software    
Property Plant And Equipment [Line Items]    
Total property, equipment, and software 4.5 4.7
Leasehold improvements    
Property Plant And Equipment [Line Items]    
Total property, equipment, and software 1.1 0.7
Furniture and fixtures    
Property Plant And Equipment [Line Items]    
Total property, equipment, and software $ 0.8 $ 0.5
v3.25.1
Consolidated Balance Sheet Components - Schedule of Depreciation and Amortization Expense (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Property Plant And Equipment [Line Items]    
Depreciation and amortization expense $ 7.1 $ 6.4
Amortization expense for internal-use software and website development 2.1 1.1
Property, Equipment and Software    
Property Plant And Equipment [Line Items]    
Depreciation and amortization expense 5.0 5.3
Software and Website Development    
Property Plant And Equipment [Line Items]    
Amortization expense for internal-use software and website development $ 4.7 $ 4.8
v3.25.1
Consolidated Balance Sheet Components - Schedule of Intangible Assets, Net (Details) - USD ($)
$ in Millions
Mar. 31, 2025
Dec. 31, 2024
Finite Lived Intangible Assets [Line Items]    
Gross Carrying Value $ 42.1 $ 39.6
Accumulated Amortization (17.2) (15.1)
Net Carrying Value 24.9 24.5
Content assets    
Finite Lived Intangible Assets [Line Items]    
Gross Carrying Value 33.7 31.2
Accumulated Amortization (9.3) (7.6)
Net Carrying Value 24.4 23.6
Developed technology    
Finite Lived Intangible Assets [Line Items]    
Gross Carrying Value 8.4 8.4
Accumulated Amortization (7.9) (7.5)
Net Carrying Value $ 0.5 $ 0.9
v3.25.1
Consolidated Balance Sheet Components - Schedule of Capitalization of Content Assets and Amortization Expense for Intangible Assets (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Finite Lived Intangible Assets [Line Items]    
Amortization expense for intangible assets $ 2.1 $ 1.1
Content assets    
Finite Lived Intangible Assets [Line Items]    
Capitalization of content assets $ 2.8 $ 1.9
v3.25.1
Consolidated Balance Sheet Components - Schedule of Future Expected Amortization Expense for Intangible Assets (Details) - USD ($)
$ in Millions
Mar. 31, 2025
Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]    
Remainder of 2025 $ 6.5  
2026 6.1  
2027 4.8  
2028 4.4  
2029 3.0  
Thereafter 0.1  
Net Carrying Value $ 24.9 $ 24.5
v3.25.1
Leases (Details)
$ in Millions
 3 Months Ended
Mar. 31, 2025
USD ($)
Leases [Abstract]  
Right-of-use asset obtained in exchange for operating lease liability $ 3.0
v3.25.1
Income Taxes (Details)
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Income Tax Disclosure [Abstract]    
Effective tax rate 23.10% 4.00%
v3.25.1
Net Loss Per Share - Schedule of Basic and Diluted Net Loss Per Share (Details) - USD ($)
$ / shares in Units, $ in Millions
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Numerator:    
Net loss $ (7.8) $ (21.3)
Denominator:    
Weighted-average shares used in computing net loss per share - basic (in shares) 160,700,000 156,400,000
Weighted-average shares used in computing net loss per share - diluted (in shares) 160,700,000 156,400,000
Net loss per share - basic (in dollars per share) $ (0.05) $ (0.14)
Net loss per share - diluted (in dollars per share) $ (0.05) $ (0.14)
v3.25.1
Net Loss Per Share - Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share (Details) - shares
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]    
Antidilutive securities excluded from computation of dilutive earnings per share (in shares) 34,400,000 31,800,000
Restricted stock units (“RSUs”)    
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]    
Antidilutive securities excluded from computation of dilutive earnings per share (in shares) 19,600,000 21,200,000
Common stock options    
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]    
Antidilutive securities excluded from computation of dilutive earnings per share (in shares) 13,900,000 9,900,000
ESPP stock purchase rights (“ESPP Rights”)    
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]    
Antidilutive securities excluded from computation of dilutive earnings per share (in shares) 500,000 400,000
Performance stock units (“PSUs”)    
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]    
Antidilutive securities excluded from computation of dilutive earnings per share (in shares) 400,000 300,000
v3.25.1
Commitments and Contingencies (Details) - USD ($)
$ in Millions
 1 Months Ended
Jan. 31, 2025
Mar. 31, 2025
Oct. 31, 2024
Commitments and Contingencies Disclosure [Abstract]      
Non-cancelable purchase obligations   $ 10.7  
Loss contingency receivable     $ 4.7
Litigation settlement, amount awarded to other party $ 4.5    
Loss contingency accrual   $ 4.8  
v3.25.1
Stockholders' Equity (Details) - USD ($)
shares in Millions, $ in Millions
 3 Months Ended
Mar. 31, 2024
Apr. 26, 2023
Equity [Abstract]    
Stock repurchase program authorized amount   $ 95.0
Number of shares, repurchased (in shares) 0.4  
Stock repurchased, value $ 6.0  
v3.25.1
Employee Benefit Plans - Additional Information (Details)
$ / shares in Units, $ in Millions
 3 Months Ended
Feb. 03, 2025
trading_day
$ / shares
shares
Mar. 31, 2025
USD ($)
$ / shares
shares
Mar. 31, 2024
USD ($)
Dec. 31, 2024
$ / shares
shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]        
Total shares of common stock reserved (in shares) | shares   56,300,000   47,900,000
Compensation cost related to the nonvested awards not yet recognized   $ 29.1    
Weighted average period for recognition of compensation cost   3 years 6 months    
Employer discretionary contribution amount   $ 0.9 $ 0.9  
Stock-based compensation expense   24.2 27.9  
Chief Executive Officer        
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]        
Stock-based compensation expense   4.1    
Internal-use software and website development        
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]        
Cumulative stock-based compensation expense   $ 1.7 $ 1.8  
Employee Stock Purchase Plan        
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]        
Total shares of common stock reserved (in shares) | shares   6,700,000    
Compensation cost related to the nonvested awards not yet recognized   $ 4.4    
Weighted average period for recognition of compensation cost   1 year    
2021 Employee Stock Purchase Plan        
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]        
Total shares of common stock reserved (in shares) | shares   15,700,000    
Stock Options        
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]        
Share based compensation, expiration period   10 years    
Vesting period   4 years    
Restricted Stock Units        
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]        
Vesting period   4 years    
Compensation cost related to the nonvested awards not yet recognized   $ 190.0    
Weighted average period for recognition of compensation cost   2 years 8 months 12 days    
Number of shares, granted (in shares) | shares   6,800,000    
Weighted-average grant date fair value, unvested ending balance (in dollars per share) | $ / shares   $ 10.63   $ 12.82
Restricted Stock Units | Chief Executive Officer        
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]        
Number of shares, granted (in shares) | shares 1,900,000      
Restricted Stock Units | Share-Based Payment Arrangement, Tranche One        
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]        
Award vesting rights percentage   25.00%    
Cliff vesting period   1 year    
Restricted Stock Units | Share-Based Payment Arrangement, Tranche One | Chief Executive Officer        
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]        
Award vesting rights percentage 25.00%      
Restricted Stock Units | Share-Based Payment Arrangement, Tranche Two        
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]        
Award vesting rights percentage   6.25%    
Restricted Stock Units | Share-Based Payment Arrangement, Tranche Two | Chief Executive Officer        
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]        
Award vesting rights percentage 6.25%      
Restricted Stock Units | Share-Based Payment Arrangement, Tranche Three        
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]        
Award vesting rights percentage   6.25%    
Performance stock units (“PSUs”)        
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]        
Compensation cost related to the nonvested awards not yet recognized   $ 3.2    
Weighted average period for recognition of compensation cost   3 years 7 months 6 days    
Number of shares, granted (in shares) | shares   300,000    
Revenue target amount   $ 0.2    
Share-Based Compensation Arrangement by Share-Based Payment Award, Non-Option Equity Instruments, Awards Expected To Vest, Percentage   83.85%    
Weighted-average grant date fair value, unvested ending balance (in dollars per share) | $ / shares   $ 9.53   $ 14.36
Performance stock units (“PSUs”) | Chief Executive Officer        
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]        
Vesting period 4 years      
Number of shares, granted (in shares) | shares 1,400,000      
Exercise price (in usd per share) | $ / shares $ 7.81      
Trading period (in days) | trading_day 60      
Market-based vesting condition, stock price (in usd per share) | $ / shares $ 12.81      
Performance stock units (“PSUs”) | Minimum        
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]        
Award performance targets (percent)   50.00%    
Performance stock units (“PSUs”) | Maximum        
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]        
Award performance targets (percent)   150.00%    
Performance stock units (“PSUs”) | Share-Based Payment Arrangement, Tranche One        
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]        
Award vesting rights percentage   25.00%    
Performance stock units (“PSUs”) | Share-Based Payment Arrangement, Tranche One | Chief Executive Officer        
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]        
Award vesting rights percentage 25.00%      
Performance stock units (“PSUs”) | Share-Based Payment Arrangement, Tranche Two        
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]        
Award vesting rights percentage   6.25%    
Cliff vesting period   3 years    
Time-Based Stock Options | Chief Executive Officer        
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]        
Number of shares, granted (in shares) | shares 3,700,000      
Exercise price (in usd per share) | $ / shares $ 7.81      
Performance-Based Stock Options | Chief Executive Officer        
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]        
Cliff vesting period 1 year 9 months 18 days      
Weighted-average grant date fair value, unvested ending balance (in dollars per share) | $ / shares $ 4.91      
Service-Based Stock Options | Chief Executive Officer        
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]        
Weighted-average grant date fair value, unvested ending balance (in dollars per share) | $ / shares $ 4.47      
v3.25.1
Employee Benefit Plans - Schedule of Stock Option Activity (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 3 Months Ended 9 Months Ended
Mar. 31, 2025
Sep. 30, 2024
Dec. 31, 2024
Number of Shares      
Number of shares, beginning balance (in shares) 9.1    
Number of shares, ending balance (in shares) 13.9    
Stock Options      
Number of Shares      
Number of shares, beginning balance (in shares) 9.1    
Number of shares, exercised (in shares) (0.3)    
Number of shares, canceled (in shares) (0.1)    
Number of shares, ending balance (in shares) 13.9    
Number of shares, granted (in shares) 5.2    
Number of shares, options vested (in shares) 7.6    
Weighted- Average Exercise Price      
Weighted-average exercise price, beginning balance (in dollars per share) $ 7.64    
Weighted-average exercise price, exercised (in dollars per share) 4.46    
Weighted-average exercise price, canceled (in dollars per share) 24.14    
Weighted-average exercise price, ending balance (in dollars per share) 7.67    
Weighted-average exercise price, options vested (in dollars per share) $ 7.03    
Weighted-average remaining contractual term, balance 6 years 7 months 2 days 4 years 11 months 19 days  
Weighted-average remaining contractual term, options vested 4 years 29 days    
Aggregate intrinsic value $ 13.5   $ 25.3
Aggregate intrinsic value, options vested $ 13.5    
Weighted-average exercise price, granted (in dollars per share) $ 7.81    
v3.25.1
Employee Benefit Plans - Schedule of Share-based Compensation, Restricted Stock Units Award Activity (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 3 Months Ended
Mar. 31, 2025
Dec. 31, 2024
Restricted Stock Units    
Number of Units    
Number of shares, unvested beginning balance (in shares) 16.1  
Number of shares, granted (in shares) 6.8  
Number of shares, vested (in shares) (1.6)  
Number of shares, forfeited (in shares) (1.7)  
Number of shares, unvested ending balance (in shares) 19.6  
Weighted-Average Grant Date Fair Value    
Weighted-average grant date fair value, unvested beginning balance (in dollars per share) $ 12.82  
Weighted-average grant date fair value, granted (in dollars per share) 7.38  
Weighted-average grant date fair value, vested (in dollars per share) 16.22  
Weighted-average grant date fair value, forfeited (in dollars per share) 13.20  
Weighted-average grant date fair value, unvested ending balance (in dollars per share) $ 10.63  
Aggregate intrinsic value, unvested balance $ 130.6 $ 136.7
Performance stock units (“PSUs”)    
Number of Units    
Number of shares, unvested beginning balance (in shares) 0.3  
Number of shares, granted (in shares) 0.3  
Number of shares, vested (in shares) (0.1)  
Number of shares, forfeited (in shares) (0.1)  
Number of shares, unvested ending balance (in shares) 0.4  
Weighted-Average Grant Date Fair Value    
Weighted-average grant date fair value, unvested beginning balance (in dollars per share) $ 14.36  
Weighted-average grant date fair value, granted (in dollars per share) 7.12  
Weighted-average grant date fair value, vested (in dollars per share) 14.36  
Weighted-average grant date fair value, forfeited (in dollars per share) 14.36  
Weighted-average grant date fair value, unvested ending balance (in dollars per share) $ 9.53  
Aggregate intrinsic value, unvested balance $ 2.9 $ 2.2
Performance stock units (“PSUs”) | Maximum    
Weighted-Average Grant Date Fair Value    
Performance period target level (percent) 150.00%  
Performance stock units (“PSUs”) | Minimum    
Weighted-Average Grant Date Fair Value    
Performance period target level (percent) 0.00%  
v3.25.1
Employee Benefit Plans - Schedule of Stock-Based Compensation Expense in the Consolidated Statements of Operations (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]    
Stock-based compensation expense $ 24.2 $ 27.9
Internal-use software and website development    
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]    
Cumulative stock-based compensation expense 1.7 1.8
Cost of revenue    
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]    
Stock-based compensation expense 0.7 0.7
Research and development    
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]    
Stock-based compensation expense 8.6 11.0
Sales and marketing    
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]    
Stock-based compensation expense 4.9 7.9
General and administrative    
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]    
Stock-based compensation expense 11.6 8.3
Restructuring related charges    
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]    
Stock-based compensation expense $ (1.6) $ 0.0
v3.25.1
Employee Benefit Plans - Schedule of Shares of Common Stock Reserved for Future Issuance (Details) - shares
shares in Millions
Mar. 31, 2025
Dec. 31, 2024
Retirement Benefits [Abstract]    
Stock options outstanding (in shares) 13.9 9.1
RSUs outstanding (in shares) 19.6 16.1
PSUs outstanding 0.4 0.3
Shares available for future grants (in shares) 22.4 22.5
Total shares of common stock reserved 56.3 47.9
v3.25.1
Related-Party Transaction (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Dec. 31, 2024
Related Party Transaction [Line Items]      
Educator partners payable $ 100.5   $ 101.9
Content Sourcing Agreement | Related Party      
Related Party Transaction [Line Items]      
Related party content fees 2.2 $ 2.3  
Educator partners payable $ 2.2   $ 4.1
v3.25.1
Segment and Geographic Information - Additional Information (Details)
 3 Months Ended
Mar. 31, 2025
segment
Segment Reporting [Abstract]  
Number of segments 2
v3.25.1
Segment and Geographic Information - Financial Information By Segment (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Segment Reporting Information [Line Items]    
Revenue $ 179.3 $ 169.1
Gross profit $ 97.9 $ 89.5
Segment gross profit margin 54.60% 52.90%
Amortization expense for intangible assets $ 2.1 $ 1.1
Cost of revenue 81.4 79.6
Segment Reconciling Items    
Segment Reporting Information [Line Items]    
Platform operation and maintenance costs 10.2 9.6
Stock-based compensation 0.7 0.7
Segment Reconciling Items | Amortization of internal-use software    
Segment Reporting Information [Line Items]    
Amortization expense for intangible assets 4.7 4.8
Segment Reconciling Items | Amortization of intangible assets    
Segment Reporting Information [Line Items]    
Amortization expense for intangible assets 2.1 1.1
Consumer | Operating Segments    
Segment Reporting Information [Line Items]    
Revenue 117.6 111.6
Segment content costs 45.2 45.0
Gross profit $ 72.4 $ 66.6
Segment gross profit margin 61.60% 59.70%
Enterprise | Operating Segments    
Segment Reporting Information [Line Items]    
Revenue $ 61.7 $ 57.5
Segment content costs 18.5 18.4
Gross profit $ 43.2 $ 39.1
Segment gross profit margin 70.00% 68.00%
Reportable Segment | Operating Segments    
Segment Reporting Information [Line Items]    
Revenue $ 179.3 $ 169.1
Segment content costs 63.7 63.4
Gross profit $ 115.6 $ 105.7
Segment gross profit margin 64.50% 62.50%
v3.25.1
Segment and Geographic Information - Schedule of Revenue by Region Based on Billing Address (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Segment Reporting Information [Line Items]    
Total $ 179.3 $ 169.1
United States    
Segment Reporting Information [Line Items]    
Total 93.0 92.4
Europe, Middle East, and Africa    
Segment Reporting Information [Line Items]    
Total 43.4 39.2
Asia Pacific    
Segment Reporting Information [Line Items]    
Total 24.8 21.1
Other    
Segment Reporting Information [Line Items]    
Total $ 18.1 $ 16.4
v3.25.1
Segment and Geographic Information - Schedule of Long-lived Assets by Geographic Region (Details) - USD ($)
$ in Millions
Mar. 31, 2025
Dec. 31, 2024
Segment Reporting Information [Line Items]    
Total $ 40.7 $ 39.9
United States    
Segment Reporting Information [Line Items]    
Total 40.1 39.0
Rest of World    
Segment Reporting Information [Line Items]    
Total $ 0.6 $ 0.9
v3.25.1
Restructuring Related Charges (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2025
Dec. 31, 2024
Mar. 31, 2024
Restructuring Cost and Reserve [Line Items]      
Reversal of stock-based compensation expense $ 24.2   $ 27.9
Restructuring related charges (0.9)   2.1
Payments for restructuring 5.2 $ 2.7 $ 1.8
Employee Severance      
Restructuring Cost and Reserve [Line Items]      
Restructuring related charges $ 0.7 $ 6.8