CHEGG, INC

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.

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.

Chegg, Inc. announced it received a notice from the New York Stock Exchange (NYSE) on July 24, 2026, indicating non-compliance with the minimum share price rule. The company's average closing share price fell below $1.00 for 30 consecutive trading days. Chegg has a six-month period to regain compliance, with potential actions including a reverse stock split, and noted that a similar non-compliance issue in December 2025 was resolved by May 2026.

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.

Chegg reported strong first-quarter 2026 financial results, exceeding expectations for revenue, adjusted EBITDA, and free cash flow. The company achieved GAAP Net Income of $0.2 million, marking its first positive net income in two years, driven by a rearchitected business model optimized around AI and significant cost reductions. Chegg's skilling business showed a 9% year-over-year revenue increase, and the company expects double-digit revenue growth in skilling for the full year 2026. For the second quarter of 2026, Chegg anticipates total net revenues between $49 million and $50 million.

Chegg, Inc. announced its 2026 Annual Meeting of Stockholders will be held virtually on June 12, 2026. Key proposals include the election of three directors, an advisory vote on 2025 executive compensation, and the ratification of Grant Thornton LLP as the independent auditor. Most notably, stockholders will vote on an amendment to the Restated Certificate of Incorporation to effect a reverse stock split at a ratio ranging from 1-for-4 to 1-for-15.

Chegg, Inc.'s Audit Committee dismissed Deloitte & Touche LLP as its independent registered public accounting firm, effective April 13, 2026. This decision followed a competitive review process. The company confirmed there were no disagreements on accounting principles or practices, nor any reportable events with Deloitte during the past two fiscal years or the interim period.