Chegg Inc. (NYSE:CHGG) shares sank in Monday’s extended trading after the company released its fourth-quarter earnings report.
Here’s a look at the key figures from the quarter.
- CHGG stock is moving. Watch the price action here.
The Details: Chegg reported quarterly losses of one cent per share, which beat the consensus estimate for losses of 10 cents.
Quarterly revenue came in at $72.66 million, which beat the Street estimate of $71 million and was down from $143.48 million from the same period last year.
Chegg reported the following fourth highlights:
- Chegg Skilling Revenues of $17.7 million, an increase of 11% year-over-year.
- Non-GAAP Gross Margin of 60%
- Non-GAAP Net Loss was $700,000
- Adjusted EBITDA was $12.9 million
“We are reinventing Chegg around the $40 billion skilling market, which we believe can drive double-digit growth with strong margins and cash flow in the years to come,” said Dan Rosensweig, CEO of Chegg.
“We’ve organized the company into two focused businesses: Chegg Skilling as our growth engine and our legacy Academic Services, which generates free cash flow that strengthens our balance sheet and positions us to end 2026 debt-free with a substantial cash balance,” Rosensweig added.
CHGG Stock Price: According to data from Benzinga Pro, Chegg stock dropped 8% to 69 cents in Monday’s extended trading.
Photo: rafapress / Shutterstock
Recent Comments