Coursera announced that its Board of Directors approved a share repurchase program authorizing the company to buy back up to $500 million of its common stock. The company said the authorization reflects leadership’s confidence in Coursera’s business strategy, long-term cash flow generation, and future shareholder value creation opportunities.
The company noted that its increased scale following the recent combination with Udemy, along with its financial position and expected operating synergies, provides flexibility to return capital to shareholders while continuing to invest in long-term growth initiatives. Coursera said it expects to fund the repurchases using existing cash balances and cash flow generated from operations.
According to the announcement, repurchases may occur periodically through open market transactions, with the timing and volume dependent on market conditions and other corporate considerations. The company added that repurchases will be conducted in accordance with applicable federal securities laws, including Rule 10b-18 under the Securities Exchange Act of 1934. Coursera may also establish Rule 10b5-1 trading plans to facilitate share repurchases under the authorization.
The repurchase program does not have a fixed expiration date and does not require the company to repurchase a specific number of shares. The Board retains the ability to modify, suspend, or terminate the program at any time.
Founded in 2012 by Andrew Ng and Daphne Koller, Coursera operates a global online learning platform that partners with universities and industry organizations to offer courses, certificates, and degree programs. The company recently completed its combination with Udemy, creating a skills development platform serving approximately 290 million learners and 18,000 enterprise customers globally.
