Benzinga | May 25, 2021 04:59PM EDT

EXCLUSIVE: Chegg CFO Talks Brand Strength, Growth On 'Power Hour'

Andrew Brown, CFO of Chegg Inc (NYSE:CHGG), appeared on Benzinga's YouTube show "Power Hour" for an exclusive interview Tuesday.

Chegg has become a powerhouse in education over the last 10 years, Brown said. The company started in the United States but has aggressively expanded outside the U.S. over the last couple of years, he added.

The company has 40 million students that access its platform on an annual basis, and around 7 million of those students paid for a service on the company's platform last year, the Chegg CFO said.

The company aims to provide resources to help students better understand subject matter, he told Benzinga.

Chegg Vs. The Competition: The COVID-19 pandemic accelerated the education industry's transition to online learning, Brown said.

Chegg has a "direct-to-student" model that Brown says is unique, adding that most of the company's competition "goes through the institution."

Chegg's Brand, Growth: The company has created a strong brand that allows it to acquire new customers through existing customers' success, Brown said, adding that Chegg's content is leverageable, meaning it can use its U.S. content internationally.

Chegg has reached scale and increased its profitability, he said, adding that the company has about $2.6 billion on its balance sheet.

The Chegg CFO told Benzinga that he is excited about the company's international growth potential and its entry into skills-based learning.

Related Link: Chegg Analysts Bullish After Q1 Report: 'Balanced Subscriber Beat'

CHGG Price Action: Chegg has traded as high as $115.21 and as low as $54.85 over a 52-week period.

The stock gained 1.05% Tuesday, closing at $74.77.