Cengage Learning Holdings II Inc Q2 2020 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Todd Cranston Morgan - Jefferies LLC, Fixed Income Research - Analyst : Just to take a step back for a second. I remember a couple of quarters ago, you talked proudly about having actually served more students. I think you were, sort of, trying to combine the print and the digital student counts and it was up. Can you kind of roll that forward here? It sounds like with the, sort of, the bulk deals that you're doing, that you're actually continuing to serve, sort of, more students. But the revenue issues are really tied to, sort of, a much lower, sort of, an ARPU number or revenue-per-student number. Are the students kind of consuming less content or more content as to exacerbate that? And just trying to get a bigger picture on the, sort of, the dramatic moves in the Learning revenue trends around those factors. without the prior written consent of Thomson Reuters. 'Thomson Reuters' and the Thomson Reuters logo are registered trademarks of Thomson Reuters and its affiliated companies. NOVEMBER 15, 2019 / 1:30PM, CNGO.PK - Q2 2020 Cengage Learning Holdings II Inc Earnings Call

Question: Todd Cranston Morgan - Jefferies LLC, Fixed Income Research - Analyst : Great. And then I don't know if -- just on Cengage Unlimited, if you could sort of talk a little bit about that now that you've lapped it. In terms of renewal rates, multicourse access, anything to be thought there, at least versus expectations? Or any comments about how embedded it's becoming?

Question: Kenneth Silver - KLS Diversified Asset Management LP - Analyst : Just one quick question. You talked about winning -- increasing your share of adoption by 1.5% to 2%, which is not like that's helping you outperform the industry. But what about your Cengage -- your efforts with Cengage Unlimited and, to some extent, print rental winning share from the white space? Can you talk about that?

Question: Kenneth Silver - KLS Diversified Asset Management LP - Analyst : And do you think you're winning back share from the white space at a faster rate than the other major publisher?