Stock Quote Chgg: Chegg Inc Financial Results and Analysis

Chegg Inc, the parent company of Chegg, has reported significant revenue growth in recent years. Chegg Inc's revenue increased by 25% in 2020 compared to the previous year.

Chegg's financial results show that the company's revenue growth is largely driven by its online learning platform, which offers a range of services including online tutoring, homework help, and study resources. Chegg's platform has become increasingly popular among students, with over 40 million registered users worldwide.

Chegg Inc's net income has also seen a substantial increase, rising from $20.6 million in 2019 to $41.6 million in 2020. This growth can be attributed to the company's ability to scale its operations and expand its offerings to meet the changing needs of its customers.

The company's strong financial performance has also led to an increase in its market capitalization, reaching over $10 billion in 2020.

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Chegg, Inc. announced its Q4 and full fiscal year of 2021 financial results on February 7, 2022.

Chegg reported a 12% year-over-year revenue increase to $171.9 million in Q3 2021, with Chegg Services revenue rising 23% to $146.8 million.

A conference call was held on November 1, 2021, to discuss the financial results of Q3 2021.

Chegg's revenue decreased by -6.60% to $716.30 million in 2023, compared to the previous year's $766.90 million.

In Q2 2021, Chegg's total net revenues reached $198.5 million, marking a 30% year-over-year increase.

Chegg Services revenues surged 38% to $173.5 million in Q2 2021, representing 87% of total revenues.

The company saw subscriber growth, reaching 4.9 million in Chegg Services, up 31% year-over-year in Q2 2021.

For Q3 2021, Chegg anticipated revenues between $170 million and $175 million, and for the full year, projections ranged from $805 million to $815 million.

Chegg's non-GAAP net income in Q3 2021 was $33.9 million, with a net income of $6.7 million.

The board approved a $500 million increase to its securities repurchase program, now totaling $1 billion.

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Chegg's shares dropped over 17% in the after-hours session Monday due to lower revenue guidance in the current quarter.

The company has chosen Amazon Web Services (AWS) as its preferred cloud provider to advance its online learning platform.

Chegg has appointed Marcela Martin to its Board of Directors, bringing over 25 years of finance experience in global tech companies.

Martin's expertise in adapting to market trends is expected to enhance Chegg's focus on student needs in a rapidly changing educational landscape.

Chegg's appointment of Martin adds a valuable perspective to its Board of Directors, particularly in terms of finance and market trends.

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Chegg's revenue was $716.30 million in 2023, a decrease of -6.60% compared to the previous year's $766.90 million.

Chegg reported a net income of $6.7 million in Q3 2021, with a non-GAAP net income of $33.9 million.

In Q3 2021, Chegg Services revenue rose 23% year-over-year to $146.8 million, representing 85% of total revenues.

Chegg's earnings were $18.18 million in 2023, a decrease of -93.18% compared to the previous year.

A conference call was held on November 1, 2021, to discuss Q3 2021 financial results, with an audio replay available from 7:30 PM ET on November 1 until 11:59 PM ET on November 8, 2021.

Chegg will release its earnings results for Q4 and full fiscal year of 2021 on February 7, 2022, after market close, with a conference call to discuss financial results at 1:30 PM PST.

Chegg's revenue increase was 12% year-over-year to $171.9 million in Q3 2021.

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Chegg's third quarter 2021 revenue showed a 12% year-over-year increase to $171.9 million.

This is a significant jump, considering the education sector was affected by the COVID-19 pandemic. Chegg Services revenue rose 23% year-over-year to $146.8 million, representing 85% of total revenues.

The company's net income was $6.7 million, with a non-GAAP net income of $33.9 million. Notably, Chegg approved a $500 million increase to its securities repurchase program, now totaling $1 billion.

In 2023, Chegg's revenue took a hit, decreasing by 6.60% to $716.30 million compared to the previous year's $766.90 million. This drop in revenue was accompanied by a significant decline in earnings, with a decrease of 93.18% to $18.18 million.

Chegg's stock has plummeted 98% from its peak, despite relatively stable sales, cash flow, and non-GAAP earnings.

The current stock price of CHGG is $1.610, which is a 5.92% increase from the previous 5-day average. This price was last updated on January 28, 2025.

The stock has seen significant changes in the past few days, with a 6.62% increase on the first day of January. On the other hand, the third-party data trends have seen a steep drop, according to a report by Morgan Stanley.

Here's a breakdown of the recent stock performance:

Chegg, Inc. has proposed a $300 million accelerated share repurchase program to enhance shareholder value. This is a significant move for the company.

The ASR is part of a larger $1.0 billion repurchase program, which still has $665.5 million available as of September 30, 2021. Chegg aims to leverage both organic and inorganic growth strategies to better serve students globally.

Chegg's robust balance sheet is a key factor in this decision, reflecting the company's confidence in long-term growth opportunities within the education sector.

The "Quotes" section is a treasure trove of information for anyone looking to make informed decisions about their investments. The data is presented in a clear and concise manner, making it easy to understand and analyze.

The price of CHGG stock on January 25, 2025, was $1.610. This represents a 5.92% increase from the previous day's price.

The trading volume on January 25, 2025, was 2,651,684, indicating a significant amount of activity in the market.

Here's a breakdown of the price and trading volume for the past few days:

As you can see, the price of CHGG stock has been fluctuating over the past few days, with some days seeing significant increases and others seeing declines. It's essential to keep an eye on these fluctuations to make informed decisions about your investments.

Schultz Nathan J. and Longo David made significant buys on January 13, 2025, with 1,000,000 shares traded each.

These buys came after a period of selling by both individuals, with Schultz selling 4,406 and 12,014 shares on December 11, 2024, and Longo selling 1,329 and 1,637 shares on the same day.

In fact, Longo sold a total of 5,656 shares on December 11, 2024, and 2,812 shares on September 11, 2024, indicating a decrease in his holdings.

Here's a breakdown of the buys and sells by these insiders:

Their buying activity suggests a positive outlook on the company, which may be reflected in the stock's performance.

Insider activity is a crucial indicator of a company's financial health and future prospects. Insider buying and selling can reveal a lot about the confidence of those closest to the company.

Large insider buys were reported on January 13, 2025, with Nathan J. Schultz buying 1,000,000 shares and David Longo buying another 1,000,000 shares.

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Insider selling activity has been steady over the past few months, with several executives selling shares in September and December 2024. For example, Daniel Rosensweig sold 2,582 shares on September 11, 2024, and 6,532 shares on the same day.

The largest insider sale in the past year was made by Daniel Rosensweig on December 11, 2024, when he sold 6,532 shares.

Insiders have been buying shares in bulk on June 4, 2024, with four new insiders buying 54,347 shares each. These new insiders include Marcela Martin, John E. York, Sarah Bond, Leblanc Paul, and Whelan Melanie Anya.

Here's a breakdown of the insider buying activity on June 4, 2024:

As we explore the world of insider activity, it's essential to understand who's behind the scenes making key decisions. Managers and Directors play a crucial role in shaping the direction of a company.

Nathan Schultz is the CEO and Director of Chegg, Inc., having taken on the role since May 31, 2024.

David Longo serves as the Director of Finance and CFO, joining the team on February 20, 2024.

Tracey Ford is the Investor Relations Contact, but her age and start date are not publicly disclosed.

Nathan Schultz is also a Director/Board Member, joining the board on May 31, 2024.

Ted Schlein has been a Director/Board Member since November 30, 2008, bringing a wealth of experience to the role.

Dan Rosensweig serves as the Chairman, having taken on the role as of February 28, 2010.