Quarterly ResultAug 6, 2026, 04:31 PM
Chegg Q2 Net Loss Narrows to $2.95M; Revenue Down 51%
AI Summary
Chegg reported a significantly reduced net loss of $2.95 million for Q2 2026, down from $35.66 million in Q2 2025. This improvement occurred despite a 51% decrease in net revenues to $51.85 million, primarily driven by a 61% decline in Academic Services revenue. The company also settled litigation with JPMC and continued its restructuring efforts, which included workforce reductions and facility exit costs.
Key Highlights
- Q2 2026 Net Loss: $(2.95) million, significantly improved from $(35.66) million YoY.
- Q2 2026 Net Revenues: $51.85 million, a 51% decrease from $105.12 million YoY.
- Academic Services Revenue: Decreased 61% to $34.32 million in Q2 2026.
- Chegg Skilling Revenue: Increased 2% to $17.53 million in Q2 2026.
- Operating Expenses: Reduced to $31.46 million in Q2 2026 from $106.10 million YoY.
- Repurchased $1.7 million of common stock in Q2 2026.
- Extinguished $20.0 million of 2026 convertible notes for $19.4 million.
- Settled JPMC litigation claims related to Frank acquisition.
Price Impact
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