Chegg Stock Slips After Q3 Results, 21% Workforce Reduction, Weak Q4 Guidance
Chegg Stock Slips After Q3 Results, 21% Workforce Reduction, Weak Q4 Guidance
"While the global education industry continues to experience tremendous change, in the third quarter, we showed early progress against our strategic plan and delivered better-than-expected revenue and adjusted EBITDA. However, recent technology shifts and generative AI have created significant headwinds, and as a result, we are undertaking an additional restructuring," said Chegg, Inc. (NYSE:CHGG) shares are down after the company reported its third-quarter results after Tuesday's closing bell. Here's a look at the details from the report.
紐交所（NYSE:CHGG）的股票在公司週二收盤後公佈第三季度業績後下跌。以下是報告的詳細信息。
The Details: Chegg reported quarterly earnings of nine cents per share, which beat the analyst consensus estimate of eight cents. Quarterly revenue came in at $136.59 million, which beat the analyst consensus estimate of $134.11 million and a decrease from sales of $157.85 million from the same period last year.
詳情：Chegg報告每股九美分的季度收益，超出了每股八美分的分析師共識預期。季度營收達到13659萬美元，超過了分析師共識預期的13411萬美元，並較去年同期的15785萬美元銷售額有所減少。
- Total net revenues of $136.6 million, a decrease of 13% year-over-year
- Subscription Services revenues of $119.8 million, a decrease of 14% year-over-year
- Gross Margin of 68%
- Non-GAAP gross margin of 70%
- Adjusted EBITDA was $22.3 million
- 3.8 million Subscription Services subscribers, a decrease of 13% year-over-year
- 總淨營收13660萬美元，同比下降13%
- 訂閱服務營收11980萬美元，同比下降14%
- 毛利率爲68%
- 非GAAP毛利率爲70%
- 調整後的EBITDA爲2230萬美元
- 380萬訂閱服務訂戶，同比下降13%
Chegg announced additional restructuring efforts, effective immediately, to impact all groups across the company:
Chegg宣佈立即實施額外的重組措施，將影響公司各個部門：
- Chegg will reduce headcount by an additional 21%.
- Chegg anticipates that these actions, along with additional operating expense savings, will result in annualized non-GAAP cost savings of $60-$70 million in 2025.
- The cost savings from the restructuring announced in June, coupled with the restructuring announced today, will result in a combined non-GAAP savings of $100-$120 million in 2025.
- Chegg將額外減少21%的員工人數。
- Chegg預計這些行動以及額外的運營費用節約將導致2025年非通用會計淨成本節約額爲6000萬至7000萬美元。
- 從六月宣佈的重組節約成本以及今天宣佈的重組，預計將使2025年的非通用會計儲蓄總額爲1億至12000萬美元。
"While the global education industry continues to experience tremendous change, in the third quarter, we showed early progress against our strategic plan and delivered better-than-expected revenue and adjusted EBITDA. However, recent technology shifts and generative AI have created significant headwinds, and as a result, we are undertaking an additional restructuring," said Nathan Schultz, CEO of Chegg.
「儘管全球教育行業仍在經歷巨大變化，在第三季度，我們在戰略計劃方面取得了早期進展，實現了超出預期的營收和調整後的EBITDA。但是，最近的技術轉變和生成式人工智能帶來了重大阻力，因此，我們正在進行額外的重組，」Chegg首席執行官Nathan Schultz表示。
"There continues to be a market of students looking for the high-quality, proven, and differentiated learning expertise Chegg provides, and we believe our brand and product experience are resilient and will endure," Schultz added.
「仍然有一大批學生正在尋找Chegg提供的高質量、經過驗證的和有差異化學習專業知識，我們相信我們的品牌和產品體驗是有彈性的，並將經受住考驗，」 Schultz 補充說。
Outlook: Chegg sees fourth-quarter total net revenue of between $141 million and $143 million, versus the $161.46 million estimate and subscription services revenue in a range of $126 million to $128 million with adjusted EBITDA of between $32 million and $34 million.
展望：Chegg預計第四季度總淨營收爲14100萬至14300萬美元，而16146萬美元的估算和訂閱服務營收在12600萬至12800萬美元的區間內，調整後的EBITDA在3200萬至3400萬美元之間。
CHGG Price Action: According to Benzinga Pro, Chegg shares are down 14.12% after-hours at $1.52 at the time of publication Tuesday.
CHGG價格行動：根據Benzinga Pro的數據，Chegg股價在發佈當天晚間下跌了14.12%，爲1.52美元。
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Photo: Shutterstock
圖片：shutterstock
譯文內容由第三人軟體翻譯。
