It's been over 2 months since the FY ended and no earnings call has been scheduled. What's up?
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According to the meeting the losses seem primarily in International Higher Ed and ELT, which almost certainly is due to the pandemic, and are already starting to recover. Right? Am I misinterpreting something?
The numbers are seriously bad. This FY will be interesting since the school year will be more "normal" than last year. I have a feeling the enrollment decline is here to stay. Lots of mid and small schools are seriously struggling with enrollment.
As many of you are aware our earnings call has been scheduled for tomorrow. I'm sure many of us will agree that it will be good to hear a familiar voice.
While revenue is down activations are showing triple digit growth. This, combined with the millions of dollars that Cengage Unlimited has saved students leads to only one conclusion, that CU has been an unmitigated success.
Gale has seen a sharp decline which has pushed our revenue down. This combined with the effect Covid-19 has had on our business over the past 18 months has left us down many millions of dollars. We have booked this as a one time loss and opened new credit lines. Rest assured that our EBITA is healthy and these losses are in line with our modified revenue projections that were put together to get us through the pandemic.
We fully expect to dominate the EdTech space. We have several cost saving measures that will be put into place in the next quarter. Rest assured that Cengage will continue to lead!
It’s scheduled for tomorrow 8am
We're very excited to share some great news on tomorrow's call. I can only reveal that Cengage Unlimited continues to be an unmitigated success and that that we also have some great cost savings initiatives in the coming month.
June 17th: same as last year.
They released preliminary financials. Quite honestly there is no reason for them to do a call. They've said the same thing for years. Anyone who listens is either being forced to or truly the most bored person on the planet.