HMH Announces Strong Third Quarter 2021 Results; Delivers Billings Growth of 22%

HMH (Nasdaq: HMHC), a learning technology company, announced strong financial results for the third quarter which ended Sept. 30, 2021.

“Propelled by strong demand for our comprehensive portfolio of learning solutions, HMH delivered an impressive 22% year-over-year increase in third quarter billings. As a result of the continued momentum across our business, we are raising our full year guidance for the second time this year,” said Jack Lynch, President and Chief Executive Officer of HMH. “In just the last two years, we dramatically transformed our business, strengthened our balance sheet and significantly lowered our cost structure to drive incredibly strong free cash flow while successfully executing our digital first, connected strategy—we plan to build on this success.”

“HMH is now among the largest and fastest growing companies in the edtech market. Through execution of our digital first, connected strategy we have grown our connected billings substantially with ARR growing 123% to $120 million or 11% of trailing twelve-month billings,” added Lynch.

Highlights from the quarter include:
*Raising FY 2021 billings2 guidance to $1,075-$1,095 million, unlevered free cash flow guidance to 17-19% of billings and Annualized Recurring Revenue (ARR) 2 guidance to 12-15% of billings
*Strong billings growth across the Company of 22% in Q3 and 21% YTD as demand for teaching and learning solutions continued as students returned to classrooms this fall and teachers further assessed instructional needs for the remainder of the school year
*ARR2 growth accelerated to 123% bringing ARR to $120 million, or 11% of trailing twelve-month billings. Net Retention Rate (NRR)2 was 153%
*Trailing twelve-month free cash flow3 of $137 million, an improvement of $36 million compared to the second quarter of 2021, reflecting strong operating leverage and the benefits of 2020 actions to align HMH’s cost structure with its digital first, connected strategy
details at: https://www.hmhco.com/about-us/press-releases/hmh-announces-strong-third-quarter-2021-results-delivers-billings-growth-of-22-raises-full-year-guidance-again

Related Posts

Duluth Trading Company invests $53 million in automated facility (chainstoreage.com)

Duluth Trading Company has implemented the Manhattan Active Warehouse Management platform at its new distribution and fulfillment facility in Adairsville, Ga. Officially open as of Monday Sept. 18, 2023, the retailer plans to use this automated supply chain hub to serve its 65 retail stores and e-commerce business. The retailer invested $53 million to build the facility and selected Manhattan Active Warehouse Management to drive, optimize and modernize its distribution operations. Duluth Trading Company seeks to enhance the efficiency of its fulfillment operations and handle increased order volumes while reducing turnaround times.

Abercrombie & Fitch Co. Reports Second Quarter Results

A summary of results for the second quarter ended August 1, 2020 as compared the second quarter ended August 3, 2019: *Net sales of $698 million, down 17% as compared to last year, reflecting the adverse impact of COVID-19 on store sales. *Gross profit rate improved 140 basis points to 60.7% on lower promotional and clearance activity. *Operating income improved to $14 million and $22 million on a reported and adjusted non-GAAP basis, respectively, as compared to an operating loss last year of $39 million, which reflected $45 million of flagship store exit charges. *Net income per diluted share improved to $0.09 and $0.23 on a reported and adjusted non-GAAP basis, respectively, as compared to net loss per diluted share last year of $0.48, which reflected the adverse impact from flagship store exit charges of approximately $0.50 per diluted share, net of estimated tax effect.

Average Delivery Time Across Postal Service Network Remains Stable

FY24 first quarter service performance scores covering October 1 through October 27, included: *First-Class Mail: 88.1 percent of First-Class Mail delivered on time against the USPS service standard, a decrease of 2.9 percentage points from the fiscal fourth quarter. *Marketing Mail: 94.5 percent of Marketing Mail delivered on time against the USPS service standard, consistent with performance from the fiscal fourth quarter. *Periodicals: 85.6 percent of Periodicals delivered on time against the USPS service standard, consistent with performance from the fiscal fourth quarter.
Back To Top
×Close search
Search