Chegg Reports Third Quarter 2026 Earnings
Q3 revenue $46.5M, down 40% y/y; Q4 guide $38-40M revenue and ~$1M adjusted EBITDA; $43.6M cash, no debt.
What this release says
Chegg reported third quarter 2026 revenue of $46.5 million, down 40% from a year earlier, with a net loss of $4.7 million and adjusted EBITDA of $5.4 million. The company says it ended the quarter with $43.6 million in cash and no debt, and it is shifting its focus from homework help to employability services. Guidance for the fourth quarter calls for revenue of $38 million to $40 million, which points to continued top-line decline.
Key figures
- Q3 total net revenues
- $46.5 million
- Q3 year-over-year revenue change
- 40% decrease
- Q3 net loss
- $4.7 million
- Q3 adjusted EBITDA
- $5.4 million
- Cash at quarter end
- $43.6 million
- Q4 revenue outlook
- $38 million to $40 million
Positive for shareholders
- The company says its debt has been fully eliminated and it holds $43.6 million in cash.
- Adjusted EBITDA was positive in the quarter, and the company expects roughly $1 million for the fourth quarter.
- Management says the cost restructuring is complete.
Negative for shareholders
- Revenue fell 40% year over year, and fourth quarter guidance implies further declines.
- The company still posted a net loss in the quarter.
- Management is repositioning the business toward employability, a strategy that is not yet proven to return the company to growth.
Written by Quantisnow AI from this release. Not financial advice.
Key terms
- Adjusted EBITDA:
- Earnings before interest, taxes, depreciation and amortization, further adjusted by the company to exclude items such as share-based compensation and restructuring charges.
- Non-GAAP:
- Financial measures that a company calculates with its own adjustments rather than under standard accounting rules, so they can differ from reported results.
- Gross margin:
- The share of revenue left after the direct costs of delivering products or services, shown as a percentage.
FAQ
How much did Chegg's revenue fall in the third quarter of 2026?
Chegg reported total net revenues of $46.5 million, a decrease of 40% year over year.
What does Chegg expect for revenue in the fourth quarter of 2026?
The company guided to total net revenues between $38 million and $40 million, with adjusted EBITDA of approximately $1 million.
Does Chegg have debt after the third quarter of 2026?
The release says Chegg ended the quarter with $43.6 million in cash and no debt.
Historical context for CHGG
Across the 27 sessions after earlier CHGG headlines, the stock closed higher 14 times and lower 13 times, with a median move of 4.5% in either direction. This shows timing only: many things move a stock in a session, and these figures do not show that any headline caused a move.
| Session | Earlier headline | CHGG | SPY |
|---|---|---|---|
| Nov 2, 2026 | Chegg Announces University Partnerships to Expand Student Access to Internships and Career Support | -4.6% | -0.5% |
| Oct 29, 2026 | Chegg Skills and PowerTrain Partner to Deliver AI and Workforce Training Programs Across Government and Defense | -0.7% | -0.4% |
| Oct 13, 2026 | Chegg, Inc. to Announce Third Quarter 2026 Financial Results | +0.3% | -0.0% |
| Sep 30, 2026 | New Research Reveals “Second-Language Anxiety” Is Causing Employees to Stay Silent, Miss Opportunities and Underperform at Work | +3.1% | -0.2% |
| Sep 23, 2026 | Powerlaw Corp. (Nasdaq: PWRL) Announces 6% Dividend | -2.1% | -0.7% |
| Sep 3, 2026 | Chegg Expands Beyond Academic Support to Help Students Secure Career-Defining Internships | +18.3% | +1.0% |
Keep researching CHGG
- CHGG earnings historyPast Chegg Inc. earnings releases, newest first.
- What is Earnings per share?A company's net income available to common shareholders divided by its weighted average shares outstanding, reported as basic and diluted figures.
- How to read an earnings reportAn earnings report is a company's quarterly results release, usually filed under 8-K Item 2.02. Learn how to read revenue, EPS, margins, guidance and the 10-Q.
- Earnings calendarWho reports this week, and the results as they come out.
- CHGG financial statementsRevenue, profit, cash flow and balance sheet from Chegg Inc.'s SEC filings.
- CHGG insider tradesEvery buy and sale reported by Chegg Inc. officers, directors and large holders.
- Market cap
- 30-day
- Sector
- Real Estate
- Industry
- Other Consumer Services
- Listed since
- 2013
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