Coursera Inc at KeyBanc Capital Market Technology Leadership Forum Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Jason Celino - KeyBanc Capital Markets - Analyst : Last week or two weeks ago, everything is kind of a mushy in my head, but you reported earnings? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. AUGUST 08, 2022 / 8:30PM, COUR.N - Coursera Inc at KeyBanc Capital Market Technology Leadership Forum

Question: Jason Celino - KeyBanc Capital Markets - Analyst : Several moving parts that were mentioned. Can we just maybe begin by outlining what headwinds you saw on consumer, enterprise, and degrees?

Question: Jason Celino - KeyBanc Capital Markets - Analyst : True. Maybe if we dig down just to enlighten us. In consumer, you mentioned some lower conversion rates and then a negative impact from pricing tests. What do you think of those are, one-time versus occurring?

Question: Jason Celino - KeyBanc Capital Markets - Analyst : Okay. And then in degrees, you did also mention that there were some lower enrollments at some of your more mature programs. So, we've gotten this question is -- so those must have been spring/summer or help us understand what the dynamics are.

Question: Jason Celino - KeyBanc Capital Markets - Analyst : Okay. So, for the two segments, particularly consumer and enterprise, how long do you think some of these headwinds could likely persist? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. AUGUST 08, 2022 / 8:30PM, COUR.N - Coursera Inc at KeyBanc Capital Market Technology Leadership Forum

Question: Jason Celino - KeyBanc Capital Markets - Analyst : Okay. So, I did want to talk about enterprise, the enterprise segment. I got three questions. Do you want the hard one first or the two --?

Question: Jason Celino - KeyBanc Capital Markets - Analyst : We'll get the hardware out of the way.

Question: Jason Celino - KeyBanc Capital Markets - Analyst : So, the softness that you saw in Europe, particularly around Coursera for business. I appreciate that you're not seeing any impact in your US enterprise business. But what gives you confidence that it might not spill over?

Question: Jason Celino - KeyBanc Capital Markets - Analyst : Okay. And I appreciate the opportunity in enterprise is quite long and there's really a few larger players, including yourself. How do you think about the competitive advantages that you have that others don't? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. AUGUST 08, 2022 / 8:30PM, COUR.N - Coursera Inc at KeyBanc Capital Market Technology Leadership Forum

Question: Jason Celino - KeyBanc Capital Markets - Analyst : Okay. And when I think about the competitive landscape, there was this view several years ago that we were seeing consolidation and spend: in-person training, online learning. What do you see right now in the competitive landscape? Are you seeing that consolidation still happen and, I guess, the question is where are you taking share from?

Question: Jason Celino - KeyBanc Capital Markets - Analyst : Perfect. I did want to move to degrees, since that's where, I think, that in the past, you've talked about your biggest opportunity. So, coming out of the pandemic, right around the time you guys went public, there was this view that colleges and universities needed to explore additional revenue streams or go bust. What have you seen here in the year two since? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. AUGUST 08, 2022 / 8:30PM, COUR.N - Coursera Inc at KeyBanc Capital Market Technology Leadership Forum

Question: Jason Celino - KeyBanc Capital Markets - Analyst : Okay. I do want to keep this interactive. I don't know if there's any questions.

Question: Jason Celino - KeyBanc Capital Markets - Analyst : Yes. Unidentified Analyst (inaudible)

Question: Jason Celino - KeyBanc Capital Markets - Analyst : Perfect. And then staying on the grease, I was thinking about it when I was writing these questions. It's been almost exactly a year since you announced your tiered take rate structure.

Question: Jason Celino - KeyBanc Capital Markets - Analyst : In that year since, what's customer receptivity been and then has this driven the type of activity that you are anticipating it would?

Question: Jason Celino - KeyBanc Capital Markets - Analyst : Okay. So, one of your competitors has come out recently with their own new take rate structure for stackable bundles. How do you think this may or may not change the competitive landscape?

Question: Jason Celino - KeyBanc Capital Markets - Analyst : Switching topics a little bit. I do want to touch on consumers since that's another one of your main segments. You've had a lot of success with these entry level certificates. We get a lot of questions like what they are. So, what are some examples and then why do corporate partners of yours offer? What do they get out of it?

Question: Jason Celino - KeyBanc Capital Markets - Analyst : Okay. I've heard the types of students taking these. Are these regular people trying to get jobs in salesforce or how would you describe?

Question: Jason Celino - KeyBanc Capital Markets - Analyst : Okay. So, I do have a follow-up on Coursera plus, but one vying question certificates. So, can Google and Facebook see who these people are taking them? Like, do they have access to that? Where, say, I don't know, XYZ person had the best scores, let's hire him. Can they see that?

Question: Jason Celino - KeyBanc Capital Markets - Analyst : Okay.

Question: Jason Celino - KeyBanc Capital Markets - Analyst : Okay. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. AUGUST 08, 2022 / 8:30PM, COUR.N - Coursera Inc at KeyBanc Capital Market Technology Leadership Forum

Question: Jason Celino - KeyBanc Capital Markets - Analyst : And then, I think we have five minutes left. But with Coursera plus, you did mention it. I was surprised, a couple of quarters ago, when you said it was running greater than 30% in your business. Much larger than I would have expected. What do you think has driven that and then why should we think it matters to the consumer business?

Question: Jason Celino - KeyBanc Capital Markets - Analyst : Okay. Does it improve retention or (inaudible)? (multiple speakers)

Question: Jason Celino - KeyBanc Capital Markets - Analyst : Okay.

Question: Jason Celino - KeyBanc Capital Markets - Analyst : Okay. And then maybe last question and then I'll ask one quick one. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. AUGUST 08, 2022 / 8:30PM, COUR.N - Coursera Inc at KeyBanc Capital Market Technology Leadership Forum

Question: Jason Celino - KeyBanc Capital Markets - Analyst : But when we think about the growth profile for consumer, I think it's growing high teens this year despite some choppiness. Where do you still see the long-term growth profile for consumers?

Question: Jason Celino - KeyBanc Capital Markets - Analyst : And finally, to finish up, this is your first vail. Thank you for coming. What have you liked the most so far?

Question: Jason Celino - KeyBanc Capital Markets - Analyst : What do we like best?

Question: Jason Celino - KeyBanc Capital Markets - Analyst : True.

Question: Jason Celino - KeyBanc Capital Markets - Analyst : Yes. And Sushi was good last night, so. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. AUGUST 08, 2022 / 8:30PM, COUR.N - Coursera Inc at KeyBanc Capital Market Technology Leadership Forum

Question: Jason Celino - KeyBanc Capital Markets - Analyst : Perfect. And with that, we'll close it out. And we want to thank Ken and Coursera for coming today.