Chegg Q3 revenue dives 40% to $46.5 million
Key points
- Chegg reported third-quarter 2026 revenue of $46.5 million, down 40% year over year, as demand for its traditional homework-help services continued to decline.
- Net loss narrowed to $4.7 million from $17.5 million, while adjusted EBITDA reached $5.4 million and free cash flow totaled $5.5 million.
- Chegg eliminated its remaining convertible debt and expanded its employability platform, which management expects to contribute more revenue in 2027.
Chegg (NYSE:CHGG) reported third-quarter 2026 revenue of $46.5 million, down 40% year over year, as its homework-help business continued declining.
Revenue fell from $77.7 million a year earlier but exceeded analysts' $43.52 million estimate, while net loss narrowed to $4.7 million.
Non-GAAP operating expenses declined 36% to $31.2 million, while adjusted EBITDA reached $5.4 million and free cash flow totaled $5.5 million.
Chegg forecasts fourth-quarter revenue of $38 million–$40 million and adjusted EBITDA of approximately $1 million as it develops its employability platform.
The company repaid its remaining convertible debt, ending September with $43.6 million in cash and investments and no outstanding debt.
Chegg launched its Internships.com employability platform in September and secured pilot programs with three universities, targeting further business development in 2027.
Frequently asked questions
More from United States
Giftify posts double-digit revenue growth in Q3
Xenia Hotels Q3 revenue skyrockets 11.6% to $263.84 million
TransAlta Q3 earnings arrive at C$63 million
Waters Q3 revenue reaches $1.77 billion
Enlight Renewable Energy Q3 revenue hits $231M, up 40%
Patria Investments Q3 fee-related earnings rise 7% to $52.8m
