In 2025, Udemy hit its first profitable year, but its Q4 2025 ended in a loss. A few days after announcing the numbers, the stock reached an all-time low. The company didn’t have an earnings call, nor did it release an investor presentation because of its pending merger with Coursera. The earnings call would have been helpful to break down the numbers, since the numbers look bleak from an investor’s perspective. The overall revenue has fallen for the first time since the company went public, a

Duolingo’s market value ($13.49B) now eclipses both Coursera and Udemy combined, driven by explosive user growth and surging quarterly revenue.

2U, the online education giant that acquired edX last year, just saw its stock price drop by half.

Online course platforms closely track their learners. And things have gotten worse over the past two years.