Chegg Q3 revenue dives 40% to $46.5 million
Pontos principais
- 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.
