Chegg, Inc. CHGG is slated to report second-quarter 2020 results on Aug 3, after market close. First, we hope that you and your families are all healthy and safe. Chegg also uses its media center website, http://www.chegg.com/press, as a means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD. As such, we have decided this is a moment in time where we need to lean in and reach more students globally with our high quality low cost services. Prepared Remarks - Dan Rosensweig, CEO Chegg, Inc. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from any future results, performance or achievements. * Adjusted EBITDA guidance for the three months ending September 30, 2020 and year ending December 31, 2020 represents the midpoint of the ranges of $21 million to $23 million and $190 million to $195 million, respectively. Looking at the balance sheet, we ended the quarter with cash and investments of approximately $1 billion and we continue to believe the strength of our operating model, balance sheet and capital structure are the strongest in the education industry and put us in the best position to grow organically and should opportunities become available like Mathway, through acquisition. For more information, visit www.chegg.com. Do the … Expects 2020 Revenue Growth to Exceed 45% Chegg, Inc. (NYSE:CHGG), a Smarter Way to Student ® , today reported financial results for the three months ended June 30, 2020. 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. These include investing in international growth and development, the Chegg Study Pack, device management technologies and our skills-based learning service, Thinkful, along with additional infrastructure and resiliency investments that will allow us to scale rapidly. Chegg (CHGG) delivered earnings and revenue surprises of 8.82% and 11.88%, respectively, for the quarter ended June 2020. Chegg (CHGG) delivered earnings and revenue surprises of 41.67% and 7.03%, respectively, for the quarter ended September 2020. Chegg, Inc. CHGG is slated to report second-quarter 2020 results on Aug 3, after market close.In the last reported quarter, Chegg’s adjusted earnings and revenues topped the … Adjustments to reconcile net income (loss) to net cash provided by operating activities: Other depreciation and amortization expense, Amortization of debt discount and issuance costs, Loss from write-off of property and equipment, Operating lease expense, net of accretion, Prepaid expenses and other current assets, Net cash provided by operating activities, Acquisition of business, 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 (used in) provided by financing activities, Net (decrease) 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. Accordingly, for GAAP purposes we are required to recognize the effective interest expense on our convertible senior notes and amortize the debt discount and issuance costs over the term of the notes. The momentum we are seeing in the business, accentuated by the pandemic, is likely to continue for the foreseeable future and we expect to be a high growth, high margin company for years to come. Similar to the United States, colleges and universities around the world were forced to shut down and lacked scalable, on-demand, high quality support for students and, as a result, more international students have discovered Chegg. In addition to needing online support for academics, we are also seeing global trends towards self-learning and alternative pathways for students to gain the skills they need to compete in the global economy. Total revenue to be between $605 and $615 million, with Chegg Services revenue between $490 and $500 million, And adjusted EBITDA between $190 and $195 million, Total revenue to be between $140 and $145 million, with Chegg Services revenue between $110 and $115 million, And adjusted EBITDA between $21 and $23 million. And I want to thank the millions of students who invited us on their learning journey and I hope that, even with all of the unknowns in the year ahead, they know that the Chegg team is always here, cheering for their success and building a company that has always – and will always – put them first. Fourth, we have increased our investment in skills-based learning, by expanding the curriculum to cover more in-demand skills and by significantly reducing the price, because we know skills-based learning needs to map to the most in-demand jobs and be affordable and accessible to students.