The Investor Relations website contains information about TAL Education Group – IR Site's business for stockholders, potential investors, and financial analysts. 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.”. Past Events Date Title; Oct 29, 2020 at 8:30 AM EDT Q3 2020 Overstock.com, Inc. Earnings Conference Call. Learn more about the Intern - Investor Relations position now! And, through personalization, we are entering new growth vectors for our existing assets. Andy…. Financial Highlights. We support students on their journey from high school to college and into their career with tools designed to help them pass their test, pass their class, and save money on required materials. “2019 was a fantastic year for Chegg. Prepared Remarks - Dan Rosensweig, CEO Chegg, Inc. Earnings Release 563.5 KB. * Adjusted EBITDA guidance for the three months ending March 31, 2020 and year ending December 31, 2020 represent the midpoint of the ranges of $27.5 million to $28.5 million and $162 million to $164 million, respectively. And adjusted EBITDA between $27.5 and $28.5 million. Pinterest Investor Relations. And, with that, I will turn it over to Andy. During the 10 years I have been at Chegg, we have witnessed a dramatic change in the higher education system. We delivered 26% year over year top-line growth, yielding a … These non-GAAP financial measures also facilitate comparisons of Chegg’s performance to prior periods. I am delighted to report that we had another great quarter, ending the decade on a high note. 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. Contact Us . This is the result of proceeds from the convertible debt offering we completed in Q2 and improved operating cash flows. Amortization of debt discount and issuance costs. As such, we believe we enter 2020 in an even stronger position than we entered 2019 and expect to have another great year. Going directly to the student also allows us to make the quality of our content higher, more relevant, while keeping prices low, because we continue to own the relationship with our customer, own the content, and own the channels of distribution. Total revenue grew 28% year over year and we exceeded our profitability expectations, driven by leverage from our … Determine if the following relations are functions or not. Our team executed brilliantly across our priorities and exceeded all of our objectives. 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. Initially it is being offered to new subscribers only and we expect to start rolling it out to the broader customer base in the second half of the year. 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. 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. Change in assets and liabilities net of effect of acquisition of businesses: Prepaid expenses and other current assets, Net cash provided by operating activities, Acquisition of businesses, net of cash acquired, Common stock issued under stock plans, net, Payment of taxes related to the net share settlement of equity awards, Proceeds from issuance of convertible senior notes, net of issuance costs, Purchase of convertible senior notes capped call, Net cash provided by financing activities, Net increase in cash, cash equivalents and restricted cash, Cash, cash equivalents and restricted cash, beginning of period, Cash, cash equivalents and restricted cash, end of period. Under GAAP, we are required to separately account for the liability (debt) and equity (conversion option) components of our convertible senior notes that were issued in private placements in 2019 and 2018. 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. This gives us a tremendous foundation to expand internationally, because our content significantly overlaps in most countries because of our focus on business and STEM, which we call STEM-B which have become universal in a technology driven world. 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. 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