Quarterly ResultMay 11, 2026, 04:23 PM
Chegg Q1 Net Income $228K; Revenue Down 48% to $63.26M
AI Summary
Chegg reported a net income of $228K for the first quarter of 2026, a significant improvement from a net loss of $17.48M in the prior year period. However, total net revenues decreased by 48% to $63.26M, primarily driven by a 57% decline in Academic Services revenue. The Chegg Skilling segment showed growth, with revenues increasing by 9% to $17.58M.
Key Highlights
- Net income was $228K for Q1 2026, compared to a net loss of $17.48M in Q1 2025.
- Total net revenues decreased 48% to $63.26M in Q1 2026 from $121.39M in Q1 2025.
- Academic Services revenue declined 57% to $45.68M in Q1 2026 from $105.25M in Q1 2025.
- Chegg Skilling revenue increased 9% to $17.58M in Q1 2026 from $16.14M in Q1 2025.
- Net cash provided by operating activities was $4.11M in Q1 2026, down from $24.53M in Q1 2025.
- Repaid $19.45M aggregate principal amount of 2026 convertible senior notes in Q1 2026.
- Recorded $1.13M in restructuring charges related to the October 2025 plan in Q1 2026.
Price Impact
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