Home > Boards > US Listed > Miscellaneous > Chegg Inc (CHGG)

SANTA CLARA, Calif., July 25, 2017 /PRNewswire/ --

Public Reply | Private Reply | Keep | Last ReadPost New MsgNext 10 | Previous | Next
TREND1 Member Profile
Member Level 
Followed By 401
Posts 53,364
Boards Moderated 26
Alias Born 12/16/01
160x600 placeholder
Statement of Changes in Beneficial Ownership (4) Edgar (US Regulatory) - 10/15/2019 5:51:06 PM
Federman & Sherwood Initiates an Investigation of the Data Breach of Chegg, Inc. Business Wire - 10/15/2019 12:57:00 PM
Chegg to Announce Third Quarter 2019 Financial Results PR Newswire (US) - 10/10/2019 4:30:00 PM
San Francisco 49ers And Chegg Partner To Provide First Generation Students With College Scholarships PR Newswire (US) - 10/7/2019 9:00:00 AM
Current Report Filing (8-k) Edgar (US Regulatory) - 10/1/2019 4:07:30 PM
Statement of Changes in Beneficial Ownership (4) Edgar (US Regulatory) - 9/24/2019 5:05:36 PM
Vote to bring Chegg Music 101 with YUNGBLUD to your school PR Newswire (US) - 9/16/2019 4:03:00 PM
Chegg urges businesses, elected officials, and universities, to work together to reduce the devastating impact of student deb... PR Newswire (US) - 9/10/2019 9:05:00 AM
Statement of Changes in Beneficial Ownership (4) Edgar (US Regulatory) - 9/5/2019 6:38:25 PM
Statement of Changes in Beneficial Ownership (4) Edgar (US Regulatory) - 9/5/2019 6:38:05 PM
Current Report Filing (8-k) Edgar (US Regulatory) - 9/4/2019 3:59:32 PM
Chegg to Acquire Online Skills-Based Learning Platform Thinkful to Help Students Accelerate their Path from Learning to Earni... PR Newswire (US) - 9/4/2019 9:00:00 AM
Statement of Changes in Beneficial Ownership (4) Edgar (US Regulatory) - 8/22/2019 7:05:27 PM
Statement of Changes in Beneficial Ownership (4) Edgar (US Regulatory) - 8/14/2019 5:35:29 PM
Dissatisfied, Determined, and Ready to be Heard: Chegg report gives voice to today's students PR Newswire (US) - 8/14/2019 9:00:00 AM
Statement of Changes in Beneficial Ownership (4) Edgar (US Regulatory) - 8/6/2019 6:43:47 PM
Statement of Changes in Beneficial Ownership (4) Edgar (US Regulatory) - 8/2/2019 6:21:04 PM
Statement of Changes in Beneficial Ownership (4) Edgar (US Regulatory) - 8/2/2019 6:20:45 PM
Statement of Changes in Beneficial Ownership (4) Edgar (US Regulatory) - 8/2/2019 6:20:38 PM
Statement of Changes in Beneficial Ownership (4) Edgar (US Regulatory) - 8/2/2019 6:20:08 PM
Statement of Changes in Beneficial Ownership (4) Edgar (US Regulatory) - 8/1/2019 7:46:52 PM
Statement of Changes in Beneficial Ownership (4) Edgar (US Regulatory) - 8/1/2019 7:46:27 PM
Statement of Changes in Beneficial Ownership (4) Edgar (US Regulatory) - 7/29/2019 6:31:32 PM
Initial Statement of Beneficial Ownership (3) Edgar (US Regulatory) - 7/29/2019 6:31:22 PM
Quarterly Report (10-q) Edgar (US Regulatory) - 7/29/2019 4:13:55 PM
TREND1 Member Level  Sunday, 07/30/17 06:16:07 PM
Re: None
Post # of 36 
SANTA CLARA, Calif., July 25, 2017 /PRNewswire/ -- Chegg, Inc. (NYSE: CHGG), the Smarter Way to Student, today reported financial results for the three months ended June 30, 2017.

"The momentum we saw in Q1 continued into Q2, as we exceeded our expectations on both revenue and profitability. As engagement with Chegg Services expands, we have increased confidence to raise our guidance for the full year," said Dan Rosensweig, Chairman and CEO of Chegg, Inc. "We believe that Chegg is becoming the largest direct-to-student platform in the country, with students increasingly dependent on Chegg to master their subjects, pass their classes, and graduate. In the first half of this year students viewed almost 200 million pieces of Chegg Study content, created over 290 million new citations, and were tutored in over 180 different subjects."

Q2 2017 Highlights:
•Total Net Revenues of $56.3 million, an increase of 6% year-over-year
•Total Net Revenues to Non-GAAP Total Net Revenues growth increased 38% year-over-year *
•Chegg Services Revenues grew 50% year-over-year to $44.7 million, or 79% of total net revenues, compared to 56% in Q2 2016
•Net Loss was $6.0 million
•Non-GAAP Net Income was $6.0 million
•Adjusted EBITDA was $10.1 million
•1.2 million: number of Chegg Services subscribers
•98 million: total Chegg Study content views

Our total net revenues are comprised of two revenue streams: (1) Chegg Services revenues, which includes Chegg Study, Chegg Tutors, our Writing Tools service, Enrollment Marketing, Brand Partnership, Internships, and Test Prep; and (2) Required Materials revenues, which includes commission revenues from Ingram Content Group (Ingram) and textbook publishers, and the rental and sale of eTextbooks.

* Chegg presents non-GAAP total net revenues as if the transition of textbook inventory investment and textbook logistics and fulfillment functions for Chegg's print textbook business to Ingram was complete and the revenues from print textbook business were entirely commission-based. Chegg completed its transition to Ingram in November 2016 and to provide a more meaningful comparison of Chegg's total net revenues for the second quarter of 2017, Chegg has presented the year-over-year percentage against non-GAAP total net revenues for the same period in 2016.

For more information about non-GAAP total net revenues, non-GAAP net income, and adjusted EBITDA, and a reconciliation of non-GAAP total net revenues to total net revenues, non-GAAP net income to net loss, and adjusted EBITDA to net loss, see the sections of the press release titled "Use of Non-GAAP Measures" and "Reconciliation of GAAP to Non-GAAP Financial Measures."

Business Outlook:

Third Quarter 2017
•Total Net Revenues in the range of $56 million to $58 million
•Chegg Services Revenues in the range of $37 million to $39 million
•Gross Margin between 60% and 62%
•Adjusted EBITDA in the range of $3 million to $4 million

Full Year 2017
•Total Net Revenues in the range of $241 million to $243 million
•Chegg Services Revenues in the range of $180 million to $182 million
•Gross Margin greater than 65%
•Adjusted EBITDA in the range of $41 million to $42 million
•Capital Expenditures in the range of $20 million to $25 million
•Free Cash Flow in the range of $18 million to $22 million




Public Reply | Private Reply | Keep | Last ReadPost New MsgNext 10 | Previous | Next
Follow Board Follow Board Keyboard Shortcuts Report TOS Violation
X
Current Price
Change
Volume
Detailed Quote - Discussion Board
Intraday Chart
+/- to Watchlist