Quarterly ResultAug 6, 2026, 08:13 AM
Chegg Q2 Revenue $51.8M, Net Loss $3.0M; Shifts to Employability
AI Summary
Chegg reported Q2 2026 financial results, with total net revenues of $51.8 million, a 51% decrease year-over-year, and a net loss of $3.0 million. Despite the revenue decline, the company outperformed its own expectations for revenue, adjusted EBITDA, and cash. Chegg announced a strategic reorientation to become an "employability platform" leveraging AI, aiming for long-term growth. The company also provided Q3 2026 revenue guidance of $43 million to $44 million and repurchased $1.7 million of common stock.
Key Highlights
- Total Net Revenues: $51.8 million, a 51% decrease year-over-year.
- Net Loss: $3.0 million for the second quarter 2026.
- Adjusted EBITDA: $9.1 million for the second quarter 2026.
- Chegg Skilling Revenues: $17.5 million, a 2% increase year-over-year.
- Q3 2026 Revenue Guidance: $43 million to $44 million.
- Q3 2026 Adjusted EBITDA Guidance: $1 million to $2 million.
- Repurchased $1.7 million of common stock during Q2 2026.
- Ended Q2 2026 with $72.3 million in cash and investments.
Price Impact
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