Houghton Mifflin Harcourt Announces Second Quarter 2020 Results
Q2 2020 Headlines: •Net sales declined 35% to $251 million in the second quarter, and declined 24% to $441 million on a year-to-date basis •Billings1 declined 39% to $297 million in the second quarter, and declined 34% to $428 million on a year-to-date basis •HMH has further improved its leading win rate in the Texas Literature adoption with virtually all decisions made •Significant growth in digital platform usage with 486% increase in student assignments over the last twelve months as schools adjust to remote learning environment •Strong growth of 127% in SaaS billings as digital transformation accelerates