Chegg Reports Third Quarter 2026 Earnings
Key Highlights
- ➤Q3 revenue $46.5 million, down 40% year-over-year
- ➤Q3 adjusted EBITDA $5.4 million, a 12% margin
- ➤Chegg ended Q3 with $43.6 million cash and no debt
- ➤Q4 revenue guidance is $38 million to $40 million
- ➤Chegg launched an employability platform on Internships.com in September
Expert Statements
Dan Rosensweig, Executive Chairman and CEO of Chegg
“Over the last year our focus was rearchitecting our cost structure, accumulating cash, eliminating our debt, and positioning Chegg to return to growth. We are evolving Chegg from a homework help company into an employability company, focused on helping people find internships, assess and develop relevant job skills, and secure full-time employment. Our mission is simple; to help people get the jobs they want and build the careers they deserve.”
Dan Rosensweig, Executive Chairman and CEO of Chegg
“Higher education is going through a dramatic transformation, but one thing that will never change is that students go to college to get a job. Economic uncertainty and anxiety around AI have made the path to a first job even more daunting for students, and the need for what we are building even more urgent.”
Dan Rosensweig, Executive Chairman and CEO of Chegg
“Every time Chegg has evolved to serve students’ most critical needs, it has entered a new growth chapter. This is that moment.”
Dan Rosensweig, Executive Chairman and CEO of Chegg
“The last year has been both complicated and exhilarating. Complicated because AI hit our business hard, and we had to reinvent the company, financially, structurally, and across our product offerings. And exhilarating because we see all of the opportunities ahead of us.”
Dan Rosensweig, Executive Chairman and CEO of Chegg
“We are on our way to being a very different company, focused on employability, and as we look ahead, we will be strategic and targeted in how we think about growth across the company, with both organic and inorganic opportunities.”
David Longo, Chief Financial Officer of Chegg
“We delivered a strong third quarter, exceeding our expectations while making meaningful progress in reshaping our business and balance sheet, executing our strategic priorities, and delivering free cash flow.”
David Longo, Chief Financial Officer of Chegg
“We are now focused on building our employability business, helping learners develop workforce-ready skills while enabling employers to build and maintain a more skilled workforce. We believe this represents an attractive opportunity to create long-term value.”
David Longo, Chief Financial Officer of Chegg
“Our capital allocation strategy remains focused on generating free cash flow, maintaining a strong balance sheet, and thoughtfully deploying capital to create long-term shareholder value.”
SAN FRANCISCO, Nov. 03, 2026 (GLOBE NEWSWIRE) -- Chegg, Inc. (NYSE:CHGG), a learning and employability company, today reported financial results for the quarter ended September 30, 2026.
“Over the last year our focus was rearchitecting our cost structure, accumulating cash, eliminating our debt, and positioning Chegg to return to growth,” said Dan Rosensweig, Executive Chairman and CEO of Chegg. “We are evolving Chegg from a homework help company into an employability company, focused on helping people find internships, assess and develop relevant job skills, and secure full-time employment. Our mission is simple; to help people get the jobs they want and build the careers they deserve.”
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