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Chegg, Inc. (symbol: CHGG) is a leading student-first connected learning platform dedicated to making higher education more affordable and accessible, while enhancing student outcomes. Founded in Santa Clara, CA, Chegg operates globally with offices across major cities like San Francisco, New York, Portland, and international locations including India, Israel, Berlin, and Ukraine.
Chegg’s comprehensive student hub offers an array of services aimed at supporting learners throughout their academic journey and beyond. Key offerings include Chegg Study, tutoring, writing tools, math help, test preparation, career search, internship admissions, and college admissions.
The company's services are categorized into two main segments: Subscription Services and Skills and Other. Subscription Services feature the Chegg Study Pack, Chegg Study, Chegg Writing, Chegg Math, and Busuu, which can be accessed globally through Chegg’s websites and mobile apps. Skills and Other include products like skills development, advertising services, print textbooks, and eTextbooks.
Chegg is committed to enhancing the educational experience through technology, maintaining a user-centric approach, and constantly evolving its offerings to meet the changing needs of students. The company has received recognition as a certified great place to work, reflecting its positive workplace culture and dedication to employee satisfaction.
Recent developments highlight Chegg’s significant progress. For example, the company’s strategic appointments, like Etay Geller as VP of Product, have been instrumental in advancing core products such as Chegg Study and expanding its mobile app capabilities.
Chegg continues to be a vital resource for students worldwide, providing essential tools and support for academic and career success. For more information, visit Chegg Careers.
Chegg, Inc. (NYSE:CHGG) reported its Q4 and full-year 2022 financial results, highlighting a 10% growth in Chegg Services revenue, with a total revenue of $205.2 million in Q4 and $766.9 million annually. Subscription Services revenues reached $177.5 million in Q4, a 4% year-over-year increase, and $672 million for the full year, growing 9%. Subscriber count rose to 8.2 million, up 5%. Looking ahead, the company projects Q1 2023 revenues between $184 million and $186 million, with a gross margin of 72%-73%.
DoorDash (NYSE: DASH) has partnered with Chegg (NYSE: CHGG) to provide US Chegg Study Pack subscribers with a free DashPass Student membership. This initiative aims to enhance savings and convenience for students by offering unlimited $0 delivery fees and exclusive promotions. Subscribers can activate their membership immediately, allowing for affordable on-demand delivery from numerous restaurants and retailers. With a DashPass Student membership, Chegg users benefit from 5% DoorDash credits on Pickup orders, all for a significantly reduced price compared to standard plans. The promotion is available until August 1, 2023.
Chegg (NYSE: CHGG) is set to release its earnings results for the fourth quarter and full fiscal year of 2022 on February 6, 2023, after market close. A conference call will follow at 1:30 PM PST (4:30 PM EST) to discuss the financial results. Access to the call will be available via telephone and through a live webcast on the Chegg investor relations website. An audio replay will commence at 7:30 PM EST on the same day and will be available until February 13, 2023.
Chegg (NYSE: CHGG) has announced a global partnership with Calm, providing Chegg Study Pack users free access to Calm Premium, featuring hundreds of hours of mindfulness content in seven languages. This initiative aims to help students manage stress, improve focus, and enhance overall mental well-being, addressing the significant anxiety many students face regarding their studies. A recent study indicates that 74% of students feel anxious about academic demands, highlighting the growing need for mental health support in education.
Chegg, Inc. reported its Q3 2022 financial results, revealing total net revenues of $164.7 million, down 4% year-over-year. However, Chegg Services revenues rose by 8% to $159.3 million, constituting 97% of total revenues. The company’s net income surged to $251.6 million, attributed to a one-time tax benefit and debt extinguishment gain. The firm anticipates Q4 revenues between $200 million and $203 million, with full-year revenues expected between $762 million and $765 million.
Chegg Inc. (NYSE: CHGG) announced the promotion of Nathan Schultz to Chief Operating Officer, effective immediately. Schultz, who has been with Chegg for 15 years, previously served as President of Learning Services. In his new role, he will oversee consumer-facing products, focusing on expanding Chegg's direct-to-student services, including learning tools and career skills training, to enhance the overall consumer experience. CEO Dan Rosensweig noted Schultz's transformational leadership and significant contributions to supporting student learning.
Chegg, Inc. (NYSE: CHGG) will release its third-quarter earnings results for 2022 on November 1, 2022. The earnings call is scheduled for 1:30 PM PT (4:30 PM ET) on the same day. Investors can access the call via phone or through a live webcast at the Chegg investor relations site. A replay will be available from 7:30 PM ET on November 1 until 11:59 PM ET on November 8, 2022.
Chegg (NYSE: CHGG) has expanded its Uversity platform to Canada and the United Kingdom, connecting millions of students with valuable educational content from verified instructors. Since its U.S. launch in June 2021, Uversity hosts over 180,000 pieces of content developed by over 6,000 professors. Instructors are compensated for their contributions while retaining ownership of their materials. Chegg aims to enhance student learning experiences by providing high-quality resources and financial support for educators.
Chegg, Inc. (NYSE:CHGG) reported a 9% year-over-year increase in Chegg Services revenue, totaling $189.1 million, representing 97% of total net revenues of $194.7 million for Q2 2022. Despite a 2% decline in overall net revenues, the company achieved 5.3 million subscribers, reflecting solid growth. Net income stood at $7.5 million, with a non-GAAP net income of $55.0 million and adjusted EBITDA of $68.3 million. For Q3 2022, total net revenues are projected between $156 million and $160 million.
Chegg, Inc. (NYSE: CHGG) will announce its second-quarter earnings results on August 4, 2022, after market close. The period under review ended on June 30, 2022. A conference call will occur at 1:30 p.m. PDT (4:30 p.m. EDT) on the same day to discuss the financial outcomes. Interested parties can join via phone or a live webcast at investor.chegg.com. A replay will be available from August 4 at 7:30 p.m. EDT until August 11, 2022.
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