Our services are available online, anytime and anywhere, so we can reach students when they need us most. We invite institutional investors to meet with our management team. 2019 was a big year, particularly for engagement. Email Alerts. Chegg believes that these non-GAAP financial measures, when taken together with the corresponding GAAP financial measures, provide meaningful supplemental information regarding Chegg’s performance by excluding items that may not be indicative of Chegg’s core business, operating results or future outlook. 08/03/2020 | 05:36pm EST. “2019 was a fantastic year for Chegg. We invite institutional investors to meet with our management team. This is the result of proceeds from the convertible debt offering we completed in Q2 and improved operating cash flows. It is the Smarter Way to Student and it is transforming the way millions of students learn by reconnecting the link between learning and earning through tools and services that support students throughout their educational journey. We support students on their journey from high school to college and into their career with tools designed to help them pass their test, pass their class, and save money on required materials. And, like all Chegg Services, we continue to focus on going directly to the student: the person who is making the decisions on their future, who will invest the most in themselves, and can get a positive return on their investment. As the student population and workforce ages, we are seeing that more people are taking matters into their own hands and making decisions about where to invest their time, and their money, to get the greatest return on their investment in themselves, both academically and professionally. It is an exciting time at Chegg, and we are glad you are with us for the journey. At Chegg, we too have evolved to take advantage of new technology and new realities to help solve the biggest pain points that students face and to be their biggest advocate. Jul 30, 2020 at 8:30 AM EDT Q2 … It's been an incredible first half of the year and we are delighted to report another great quarter. Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases. We averaged over 15 million unique visitors each month, serving 2.2 million pages of content through just Chegg Study alone each day, totaling an incredible 810 million content views for the year. Chegg, Inc. (NYSE:CHGG), a Smarter Way to Student®, today reported financial results for the three months ended June 30, 2020. This strong topline growth drove gross margin to 78%, up 300 basis points from 2018. 2019 was another great year for Chegg. As a result, management excludes this item from Chegg's internal operating forecasts and models. Chegg Reports 2019 Financial Results and Raises 2020 Guidance, Governance Documents, Committee Composition, Board of Directors, https://www.businesswire.com/news/home/20200210005659/en/. Prepared Remarks - Dan Rosensweig, CEO Chegg, Inc. Adjusted EBITDA to be between $162 and $164 million, or over a 30% increase year over year. Management believes that non-GAAP measures adjusted for share-based compensation expense provide investors with a basis to measure Chegg's core performance against the performance of other companies without the variability created by share-based compensation as a result of the variety of equity awards used by other companies and the varying methodologies and assumptions used. Looking for a great paid job opportunity at Genius Sports Group in New York, NY? Chegg defines (1) adjusted EBITDA as earnings before interest, taxes, depreciation and amortization, or EBITDA, adjusted for textbook library depreciation expense and to exclude share-based compensation expense, other income, net, restructuring charges, acquisition-related compensation costs, and the donation from Chegg Foundation; (2) non-GAAP income from operations as income (loss) from operations excluding share-based compensation expense, amortization of intangible assets, restructuring charges, acquisition-related compensation costs, and the donation from Chegg Foundation; (3) non-GAAP income from operations margin as non-GAAP income from operations divided by total net revenues; (4) non-GAAP net income as net income (loss) excluding share-based compensation expense, amortization of intangible assets, restructuring charges, acquisition-related compensation costs, amortization of debt discount and issuance costs, and the donation from Chegg Foundation; (5) non-GAAP weighted average shares outstanding as weighted average shares outstanding adjusted for the effect of dilutive options, restricted stock units, and shares related to our convertible senior notes; (6) non-GAAP net income per share is defined as non-GAAP net income divided by non-GAAP weighted average shares outstanding; and (7) free cash flow as net cash provided by operating activities excluding purchases of property and equipment. Chegg is a publicly held company based in Santa Clara, California and trades on the NYSE under the symbol CHGG. We believe it’s important for Chegg to lead in this space, to support students throughout their entire learning journey. Chegg, Inc. (NYSE:CHGG), a Smarter Way to Student®, today reported financial results for the three months ended September 30, 2020. Pinterest is where people go to discover, dream and do. * Adjusted EBITDA guidance for the three months ending March 31, 2020 and year ending December 31, 2020 represent the midpoint of the ranges of $27.5 million to $28.5 million and $162 million to $164 million, respectively. These statements are not guarantees of future performance, and are based on management’s expectations as of the date of this press release and assumptions that are inherently subject to uncertainties, risks and changes in circumstances that are difficult to predict. We exceeded all of our financial targets and key operating metrics, made significant investments in our existing services, expanded our offerings organically and through acquisition, and strengthened our balance sheet with a very well received convertible debt offering early in the year. This press release contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, which include, without limitation statements regarding Chegg's continued momentum and 2020 guidance; and those included in the investor presentation referenced above, those included in the “Prepared Remarks” sections above, and all statements about Chegg’s outlook under “Business Outlook.” The words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “project,” “endeavor,” “will,” “should,” “future,” “transition,” “outlook” and similar expressions, as they relate to Chegg, are intended to identify forward-looking statements. Our team executed at a high level and we’ve positioned ourselves for continued success in 2020. Chegg Services hits a record 3.9 million subscribers for 2019, up 29% year-over-year Chegg, Inc. (NYSE:CHGG), a Smarter Way to Student®, today reported financial results for the three and twelve months ended December 31, 2019. People on Pinterest are here to take action. Financial Highlights. Accordingly, investors should monitor http://www.chegg.com/press, in addition to following press releases, Securities and Exchange Commission filings and public conference calls and webcasts. As presented in the “Reconciliation of Net Income (loss) to EBITDA and Adjusted EBITDA,” “Reconciliation of GAAP to Non-GAAP Financial Measures,” “Reconciliation of Forward-Looking Net Loss to EBITDA and Adjusted EBITDA,” and “Reconciliation of Net Cash Provided by Operating Activities to Free Cash Flow” tables below, each of the non-GAAP financial measures excludes one or more of the following items: Share-based compensation expense is a non-cash expense that varies in amount from period to period and is dependent on market forces that are often beyond Chegg's control. The … Weighted average shares used to compute net income (loss) per share: (1) Includes share-based compensation expense as follows: Adjustments to reconcile net loss to net cash provided by operating activities: Loss from write-offs of property and equipment, Amortization of debt discount and issuance costs, Operating lease expense, net of accretion. Request now. Learn more about the Investor Relations Manager position now! With that, I’ll turn the call over to the operator for your questions. X Chegg Earnings. To deliver on our financial goals and continue to provide services that create overwhelming value for academic and professional learners; To continue investing in opportunities that leverage the strength of our brand, reach, and customer base providing opportunities for meaningful growth in future years; And to continue to invest in content and our technical infrastructure to allow us to take advantage of those opportunities, not only faster but also at a greater global scale. Chegg, Inc. CHGG is set to report third-quarter 2019 results on Nov 4.For the quarter, the company expects revenues between $88 million and $90 … “2019 was a fantastic year for Chegg. For full year 2019, total revenue grew 28% to $411 million. Free cash flow for 2019 came in at the higher end of our expectations at $71 million, or 57% of adjusted EBITDA. A live webcast of the call will also be available at http://investor.chegg.com under the Events & Presentations menu. For more information, visit www.chegg.com. Chegg, Inc. (NYSE:CHGG), a Smarter Way to Student®, today reported financial results for the three months ended March 31, 2020. We invite institutional investors to meet with our management team. These non-GAAP financial measures also facilitate comparisons of Chegg’s performance to prior periods. And the types of support they need also evolved, as many are working full time, raising families, and juggling multiple priorities, all while pursuing their education. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from any future results, performance or achievements. Chegg Services primarily includes Chegg Study, Chegg Writing, Chegg Tutors, Chegg Math Solver and Thinkful, our skills-based learning platform that we acquired in October 2019. Founded in 1999 in Germany, zooplus has been in the pet supplies category for two decades. This resulted in adjusted EBITDA margin of 30% or $125 million, up 50% year-over-year, demonstrating the continued leverage of our subscription services model at scale. Learn more about the Investor Relations, Undergrad Intern position now! Chegg believes that it is appropriate to exclude the donation from Chegg Foundation from non-GAAP financial measures because it is the result of a discrete event that is not considered a core-operating activity and enables the comparison of period-over-period operating results. Restructuring charges primarily relate the exit of Chegg’s print coupon business, and Chegg's strategic partnership with the National Research Center for College & University Admissions. An audio archive of the call will also be available at http://investor.chegg.com. Visit www.chegg.com for more information. View source version on businesswire.com: Past Events Date Title; Oct 29, 2020 at 8:30 AM EDT Q3 2020 Overstock.com, Inc. Earnings Conference Call. Become a Tutor; Chegg For Good; College Marketing; Corporate Development; Investor Relations; Jobs; Join Our Affiliate Program; Media … Chegg Services hits a record 3.9 million subscribers for 2019, up 29% year-over-year. Chegg, Inc. (NYSE: CHGG), a Smarter Way to Student®, today announced that it is scheduled to release its earnings results for the second quarter of 2020 which ended June 30, 2020, on … We believe this reflects just how essential Chegg has become in the minds of students. Total revenue grew 28% year over year and we exceeded our profitability expectations, driven by leverage from our … In closing, 2019 was another great year for Chegg. Welcome to the zooplus AG Investor Relations center. To the extent additional significant non-recurring items arise in the future, Chegg may consider whether to exclude such items in calculating the non-GAAP financial measures it uses. As a reminder, the Chegg Study Pack is being rolled out in stages over the course of 2020. As such, we believe we enter 2020 in an even stronger position than we entered 2019 and expect to have another great year. The difference between the effective interest expense and the contractual interest expense are excluded from management's assessment of our operating performance because management believes that these non-cash expenses are not indicative of ongoing operating performance. This gives us a tremendous foundation to expand internationally, because our content significantly overlaps in most countries because of our focus on business and STEM, which we call STEM-B which have become universal in a technology driven world. We are proud of the recognition our team has received this year and I want to thank them for continuing to make Chegg such a great place to work. Total revenue to be between $522 and $527 million, or approximately 27% growth at the mid-point of the range, with Chegg Services revenue between $435 and $437 million. Andy…. https://www.businesswire.com/news/home/20200210005659/en/, Investor Contact: Tracey Ford, [email protected] An updated investor presentation and an investor data sheet can be found on Chegg’s Investor Relations website http://investor.chegg.com. Investor Relations. A limitation of the utility of free cash flow as a measure of financial performance is that it does not represent the total increase or decrease in Chegg's cash balance for the period. We continue to see leverage in the model all while increasing investments, such as the technology platform to support future growth initiatives that Dan talked about earlier. For reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures, please see the section of the accompanying tables titled, “Reconciliation of Net Income (loss) to EBITDA and Adjusted EBITDA,” “Reconciliation of GAAP to Non-GAAP Financial Measures,” “Reconciliation of Net Cash Provided by Operating Activities to Free Cash Flow,” and “Reconciliation of Forward-Looking Net Loss to EBITDA and Adjusted EBITDA.”. Contact Us . The Investor Relations website contains information about TAL Education Group – IR Site's business for stockholders, potential investors, and financial analysts. As learners are increasingly more diverse, older, and come from various socio-economic backgrounds, the number of people that need learning support, both academically and professionally, continues to increase. Initially it is being offered to new subscribers only and we expect to start rolling it out to the broader customer base in the second half of the year. Contact Chewy.com. Total net revenues include revenues from Chegg Services and Required Materials. It’s their passion and commitment to our mission that will fuel us over the next decade and beyond. In most cases, these acquisition-related compensation costs are not factored into management's evaluation of potential acquisitions or Chegg's performance after completion of acquisitions, because they are not related to Chegg's core operating performance. Chegg is the leading student-first interconnected learning platform, which is on-demand, adaptive, personalized, and backed up by a network of human help. CapEx to be between $105 and $115 million, which includes approximately $50 million of net textbook purchases, as we move to our new partner FedEx. Overview; Events and Presentations; SEC Filings; Proxy Materials; Governance; FAQ; Events & Presentations Upcoming Events More events are coming soon. And exceeded all of our objectives publicly held company based in Santa Clara California. 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