April 17, 2014 6:32 AM ET

Internet Software and Services

Company Overview of Chegg, Inc.

Company Overview

Chegg, Inc. operates student-first connected learning platform that empowers students to take control of their education to save time, save money, and get smarter. The company, through its Student Hub, rents and sells print textbooks; and provides eTextbooks, supplemental materials, Chegg Study service, textbook buyback, courses, internships, and college admissions and scholarship services, as well as offers enrollment marketing and brand advertising services. Chegg, Inc. was founded in 2005 and is headquartered in Santa Clara, California.

3990 Freedom Circle

Santa Clara, CA 95054

United States

Founded in 2005

639 Employees

Phone:

408-855-5700

Key Executives for Chegg, Inc.

Chairman
Age: 51
Total Annual Compensation: $603.1K
Chief Financial Officer
Age: 53
Total Annual Compensation: $389.4K
Chief Content Officer
Age: 36
Total Annual Compensation: $305.9K
Chief Technology Officer
Age: 46
Total Annual Compensation: $381.0K
Chief Information Officer
Age: 50
Total Annual Compensation: $312.1K
Compensation as of Fiscal Year 2013.

Chegg, Inc. Key Developments

Chegg, Inc. Presents at Piper Jaffray Technology, Media & Telecommunications Conference, Mar-12-2014 12:30 PM

Chegg, Inc. Presents at Piper Jaffray Technology, Media & Telecommunications Conference, Mar-12-2014 12:30 PM. Venue: Le Parker Meridien, 119 West 56th Street, New York, NY 10019, United States. Speakers: Andrew J. Brown, Chief Financial Officer.

Chegg, Inc. Presents at Raymond James 35th Annual Institutional Investors Conference, Mar-04-2014 01:40 PM

Chegg, Inc. Presents at Raymond James 35th Annual Institutional Investors Conference, Mar-04-2014 01:40 PM. Venue: JW Marriott Grande Lakes, 4040 Central Florida Parkway, Orlando, Florida, United States. Speakers: Andrew J. Brown, Chief Financial Officer.

Chegg, Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2013; Provides Earnings Guidance for the First Quarter and Full Year of 2014

Chegg, Inc. announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2013. For the quarter, the company reported net revenues of $77,116,000 compared to $68,280,000 a year ago. Loss from operations was $8,490,000 compared to income of $10,030,000 a year ago. Loss before provision for income taxes was $5,317,000 compared to income of $8,319,000 a year ago. Net loss available to common stockholders was $107,974,000 or $2.36 per basic and diluted share compared to income of $8,120,000 or $0.15 per diluted share a year ago. Net cash used in operating activities was $8,435,000 against $7,644,000 a year ago. Purchases of property and equipment and other assets were $2,165,000 against $5,147,000 a year ago. EBITDA was $16,309,000 against $29,235,000 a year ago. Adjusted EBITDA was $18.6 million against $18.5 million a year ago. Non-GAAP net income was $20.3 million, or $0.40 per diluted share, excluding non-cash charges of $102.6 million recorded as a result of IPO, stock-based compensation of $25.1 million and amortization of intangible assets of $0.6 million. For the year, the company reported net revenues of $255,575,000 compared to $213,334,000 a year ago. Loss from operations was $51,031,000 compared to income of $45,255,000 a year ago. Loss before provision for income taxes was $55,208,000 compared to income of $49,014,000 a year ago. Net loss available to common stockholders was $158,407,000 or $7.58 per diluted share compared to income of $49,043,000 or $4.39 per diluted share a year ago. Net cash provided by operating activities was $63,706,000 against $54,681,000 a year ago. Purchases of property and equipment and other assets were $7,369,000 against $15,148,000 a year ago. EBITDA was $23,447,000 against $23,352,000 a year ago. Adjusted LBITDA was $4 million against $15.803 million a year ago. Non-GAAP net loss was $14.5 million, or $0.70 per diluted share, excluding non-cash charges of $102.6 million recorded in fourth quarter of 2013, stock-based compensation of $37.0 million and amortization of intangible assets of $4.4 million. The company provided earnings guidance for the first quarter and full year of 2014. For the first quarter of 2014, the company expects revenues in the range of $70 million to $72 million, digital revenue mix representing roughly 24% of total revenues, total gross margin on both a GAAP and Non-GAAP basis between 7% and 9% and adjusted LBITDA without textbook depreciation loss in the range of $22 million to $20 million. For the year 2014, the company expects revenues in the range of $310 million to $320 million, digital revenue mix between 27% and 29% of total revenues, total gross margin on both a GAAP and Non-GAAP basis between 25% to 27%, adjusted lBITDA without textbook depreciation loss in the range of $15 million to $10 million and negative free cash flow between $5 million to positive free cash flow of $5 million.

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