Chegg, Inc. (NYSE:CHGG) Q2 2020 Earnings Conference Call - Final Transcript

Aug 03, 2020 • 04:30 pm ET


Chegg, Inc. (NYSE:CHGG) Q2 2020 Earnings Conference Call - Final Transcript


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Greetings and welcome to Chegg, Inc. Second Quarter 2020 Earnings Conference Call. [Operator Instructions] As a reminder, this conference is being recorded.

It is now my pleasure to introduce your host, Tracey Ford, Vice President of Investor Relations for Chegg. Thank you. You may begin.

Tracey Ford

Good afternoon. Thank you for joining Chegg's Second Quarter 2020 Conference Call. On today's call are Dan Rosensweig, Co-Chairperson and CEO; and Andy Brown, Chief Financial Officer. A copy of our earnings press release, along with our investor presentation, is available at our Investor Relations website, A replay of this call will also be available on our website. We routinely post information on our website and intend to make important announcements on our media center website at We encourage you to make use of these resources.

Before we begin, I would like to point out that during the course of this call, we will make forward-looking statements regarding future events, including the future financial and operating performance of the Company. These forward-looking statements are subject to material risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. We caution you to consider the important factors that could cause actual results to differ materially from those in the forward-looking statements. In particular, we refer to you to the cautionary language included in today's earnings release and the risk factors described in Chegg's quarterly report on Form 10-Q filed with the Securities and Exchange Commission on May 4, 2020, as well as our other filings with the SEC. Any forward-looking statements that we make today are based on assumptions that we believe to be reasonable as of this date. We undertake no obligation to update these statements as a result of new information or future events.

During this call, we will present both GAAP and non-GAAP financial measures. Our GAAP results and GAAP to non-GAAP reconciliations can be found in our earnings press release and the investor slide deck found on our IR website, We also recommend you review the investor data sheet, which is also posted on our IR website.

Now I will turn the call over to Dan.

Dan Rosensweig

Thank you, Tracey. And welcome, everyone, to Chegg's second quarter earnings call. First, we hope that you and your families are all healthy and safe. As we continue to navigate the pandemic and the rising social issues, we are grateful that our employees are healthy, that our business is stronger than ever, and that we have been able to support our employees, our communities and our students through this challenging time. Also, I'm proud to work with our Chegg teammates as they continue to make meaningful and positive impact wherever possible.

While students' lives were disrupted, the one constant was that Chegg was there to provide high-quality expert on-demand support from any device in any location, which resulted in accelerated growth across our services. Students turned to Chegg in record numbers, and we experienced unprecedented engagement with subscriber