...A. Highlights: When CHGG reported in early Nov., there was a great deal of uncertainty around back-to-the-school season and continuing impact of COVID-19. 1. While enrollments were lower, CHGG saw that schoolwork did eventually pick up so the need for CHGG increased throughout 4Q21, helping Co. exit year on a higher note. a. b. During these complicated times, CHGG team has continued to execute extremely well, with Chegg Study Pack take rates outperforming Co.'s expectations and retention rates reaching all-time highs, both of which positively impacts subscriptions, ARPU and margins for Chegg Services. 2. Continued investments in content quality, subject matter expansion, personalization and discovery keep adding more value for students around the world and create even bigger opportunities for CHGG. 3. Students depend on CHGG and is an important part of their learning journey and momentum it experienced in 4Q21 is continuing into 1Q22. This is why CHGG feels comfortable providing 2022 guidance....
