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. “2019 was a fantastic year for Chegg. Pinterest is where people go to discover, dream and do. 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. 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. In 2020, zooplus’ online presence spans across Europe and engages with its consumers in over 20 languages. All information provided in this release and in the conference call is as of the date hereof and Chegg undertakes no duty to update this information except as required by law. Contact Us . Our company’s portfolio includes the Coach, Kate Spade New York, and Stuart Weitzman brands. Chegg amortizes intangible assets that it acquires in conjunction with business combinations, which results in non‑cash operating expenses that would not otherwise have been incurred had Chegg internally developed such intangible assets. During the 10 years I have been at Chegg, we have witnessed a dramatic change in the higher education system. We invite institutional investors to meet with our management team. Learn more about the Investor Relations, Undergrad Intern position now! Our mission is simply to help students save time, save money, and get smarter in order to improve the overall return on educational investment. 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. I am delighted to report that we had another great quarter, ending the decade on a high note. From the cost, curriculum and student demographics, the industry has been forced to evolve to the new realities. 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. 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. Looking for a great paid job opportunity at Genius Sports Group in New York, NY? The bundle offers overwhelming value to our students and gives them even greater support across a diverse range of academic needs. Vice President of Investor Relations Chegg Inc. Oct 2016 - Present 4 years 2 months. These restructuring charges are excluded from non-GAAP financial measures because they are the result of discrete events that are not considered core-operating activities. Visit www.chegg.com for more information. 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. 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. Cintas is committed to providing a safe, healthy, and inclusive work environment, sustainable products and services and care for the communities in which we do business. Our company and our brands are founded upon a consumer-led view of luxury that stands for inclusivity and approachability. Thank you, Tracey, and welcome everyone. Jul 30, 2020 at 8:30 AM EDT Q2 … Chegg believes excluding the accounting expense associated with acquired intangible assets from non-GAAP measures allows for a more accurate assessment of its ongoing operations. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. To break the code each function has a value of 4 and each non- function has a value of 8. 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. The donation from Chegg Foundation represents a one-time event to transfer funds to a third party, for the benefit of Chegg.org, our not for profit arm of Chegg. You can obtain copies of Chegg's SEC filings on the SEC's website at www.sec.gov or at Chegg Investor Relations website at investor.chegg.com. Management and Directors. This is "Chegg Investor Relations" by Chegg on Vimeo, the home for high quality videos and the people who love them. This was driven by subscriber growth of 29%, resulting in Chegg Services revenue of $332 million, an increase of $78 million year over year. Chegg is the leading student-first interconnected learning platform, which is on-demand, adaptive, personalized, and backed up by a network of human help. 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. Prepared Remarks - Andy Brown, CFO Chegg, Inc. Today I will discuss our financial performance for the fourth quarter and full year 2019, as well as our increased outlook for 2020. Learn more about the Intern - Investor Relations position now! Chegg believes that the exclusion of the non-cash interest expense provides investors an enhanced view of our performance and enables the comparison of period-over-period results. Find the latest Earnings Report Date for Chegg, Inc. Common Stock (CHGG) at Nasdaq.com. Huge change brings even bigger challenges to address the needs and demands of today’s students who are very different than they were even just a few years ago. As such, we believe we enter 2020 in an even stronger position than we entered 2019 and expect to have another great year. Questions for the Investor Relations Department can be emailed to ir@chewy.com or by clicking the button below. For more information about non-GAAP net income and adjusted EBITDA, and a reconciliation of non-GAAP net income to net income (loss), and adjusted EBITDA to net income (loss), see the sections of this press release titled “Use of Non-GAAP Measures,” “Reconciliation of Net Income (loss) to EBITDA and Adjusted EBITDA,” and “Reconciliation of GAAP to Non-GAAP Financial Measures.”, For more information about the use of forward-looking non-GAAP measures, a reconciliation of forward-looking net loss to EBITDA and adjusted EBITDA for the first quarter 2020 and full year 2020, see the below sections of the press release titled “Use of Non-GAAP Measures,” and “Reconciliation of Forward-Looking Net Loss to EBITDA and Adjusted EBITDA.”. Investor Fact Sheet; UK Tax Strategy; contact us . As our platform expands, serving the increased needs of students, we have also been able to improve our competitive moat. All of the success we have seen over the last decade is thanks to the fantastic work of our amazing employees in 2019 our team was, once again, recognized with several awards as one of Fortune’s Great Places to Work, including our second year on the Best Small & Medium Workplaces and our first nod for being a great place to work for parents. To deliver our financial goals and continue to provide services that create overwhelming value for learners; To expand the subjects we cover and the modalities and formats of content we offer, including coverage of other countries; and. These non-GAAP financial measures also facilitate comparisons of Chegg’s performance to prior periods. Andy…. Acquisition-related compensation costs include compensation expense resulting from the employment retention of certain key employees established in accordance with the terms of the Imagine Easy, Cogeon GmbH, WriteLab, StudyBlue, and Thinkful acquisitions. At the same time, we expanded into one of the biggest growth categories in the industry; skills-based training for workforce development. We invite institutional investors to meet with our management team. Chegg, Inc. (NYSE:CHGG), a Smarter Way to Student®, today reported financial results for the three months ended September 30, 2020. Amortization of debt discount and issuance costs. And finally, as a result of the initial investment in textbooks, we expect adjusted EBITDA to free cash flow conversion to be between 40% - 50%. Total net revenues include revenues from Chegg Services and Required Materials. Overview; Events and Presentations; SEC Filings; Proxy Materials; Governance; FAQ; Events & Presentations Upcoming Events More events are coming soon. View source version on businesswire.com: Earnings Release 563.5 KB. To continue to invest in opportunities that leverage the strength of our brand, reach, and customer base and provide opportunities for meaningful growth in future years. I am incredibly proud of all the work our team has done to serve the needs of students and it’s clearly paying off, as you will see when Andy walks you through the numbers. This is the result of proceeds from the convertible debt offering we completed in Q2 and improved operating cash flows. Past Events Date Title; Oct 29, 2020 at 8:30 AM EDT Q3 2020 Overstock.com, Inc. Earnings Conference Call. 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. 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. Determine if the following relations are functions or not. Chegg was founded in 2005 to improve the overall return on investment in education by helping students learn more in less time and at a lower cost. It’s also a reflection of how we have built our team to mirror our customer base, as 40% of students are working 30 hours a week or more and 26% of them are already parents. Become a Tutor; Chegg For Good; College Marketing; Corporate Development; Investor Relations; Jobs; Join Our Affiliate Program; Media … Looking for a great internship opportunity at Ball Corporation / Ball Aerospace in Westminster, CO? Chegg, Inc. (NYSE:CHGG), a Smarter Way to Student®, today reported financial results for the three and twelve months ended December 31, 2019. As a result, management excludes this item from Chegg's internal operating forecasts and models. We have worked hard to realign the education industry by focusing on students first. Governance Documents, Committee Composition, Board of Directors, https://medium.com/@Chegg/education-in-the-era-of-technology-cfe67522b2a4. 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. CHEGG Profil - hier finden Sie alle Informationen über CHEGG wie z.B. It’s their passion and commitment to our mission that will fuel us over the next decade and beyond. Learn more about the Investor Relations Manager position now! And, with that, I will turn it over to Andy. Reconciliation of cash, cash equivalents and restricted cash: Restricted cash included in other current assets, Total cash, cash equivalents and restricted cash, RECONCILIATION OF NET INCOME (LOSS) TO EBITDA AND ADJUSTED EBITDA, RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES, (in thousands, except percentages and per share amounts), Operating expenses as a percent of net revenues, Non-GAAP operating expenses as a percent of net revenues, Weighted average shares used to compute net income (loss) per share, Effect of shares related to convertible senior notes, Non-GAAP weighted average shares used to compute non-GAAP net income per share, RECONCILIATION OF NET CASH PROVIDED BY OPERATING ACTIVITIES TO FREE CASH FLOW, RECONCILIATION OF FORWARD-LOOKING NET LOSS TO EBITDA AND ADJUSTED EBITDA, Other depreciation and amortization expense. 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. Chegg : Investor Relations Data Sheet Unaudited. Use of Investor Relations Website for Regulation FD Purposes. 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.”. Chegg is a publicly held company based in Santa Clara, California and trades on the NYSE under the symbol CHGG. We are the industry and market leader with an exceptional reputation. Read more. And I want to thank the incredible Chegg family who have worked relentlessly over the last decade to put students first. X Chegg Earnings. Important factors that could cause actual results to differ materially from those expressed or implied by these forward-looking statements include the following: Chegg’s ability to attract new students, increase engagement and increase monetization; Chegg’s ability to attract new students from high schools and colleges, which are populations with inherently high turnover; the ease of accessing Chegg’s offerings through search engines; the rate of adoption of Chegg’s offerings; the effect and integration of Chegg’s acquisition of Imagine Easy Solutions, Cogeon, WriteLab, StudyBlue, and Thinkful; Chegg’s ability to strategically take advantage of new opportunities to leverage the Student Graph; competitive developments, including pricing pressures and other services targeting students; Chegg’s anticipated growth of Chegg Services; Chegg’s ability to build and expand its services offerings; Chegg’s ability to develop new products and services on a cost-effective basis and to integrate acquired businesses and assets; the impact of seasonality on the business; Chegg's reputation with students and tutors; the outcome of any current litigation; the ability of our logistics partners to manage the fulfillment processes; the effect of Chegg's transition to using FedEx as its logistics partner; Chegg’s ability to effectively control operating costs; changes in Chegg’s addressable market; regulatory changes, in particular concerning education, privacy and marketing; changes in the education market; and general economic, political and industry conditions. An updated investor presentation and an investor data sheet can be found on Chegg's Investor Relations website http://investor.chegg.com. The top concern of global employers is the future of workforce education. As the leading direct-to-student learning platform, we strive to improve educational outcomes by putting the student first in all our decisions. Welcome to the zooplus AG Investor Relations center. As the education industry is undergoing significant disruption, it has becoming increasingly clear that Chegg’s model of putting the student first and going direct to the student is the envy of the education landscape. Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases. Thank you, Tracey and welcome everyone to our 2019 Q4 earnings call. Prepared Remarks - Dan Rosensweig, CEO Chegg, Inc. 2020 is off to a good start and we are increasing our total revenue and adjusted EBITDA guidance. 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