Companies · CHGG
Chegg
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Latest analysis
Updated Aug 6, 2026
Chegg pivots to employability platform; Q2 revenue $51.8M, adjusted EBITDA $9.1M, net cash $38.5M.
Chegg is repositioning from academic learning toward an employability-focused platform that automates job search, resume tailoring, interview prep and alumni connections for students. The company has stabilized its balance sheet (net cash $38.5M, convertible debt to be repaid Q3 2026), cut operating expenses nearly in half year-over-year to $32.3M in Q2, and is deploying AI to drive margin expansion and operational efficiency. Revenue in Q2 2026 reached $51.8M, exceeding internal expectations, though full-year FY2025 revenue of $377M represents a 39% decline from FY2024's $618M—a structural shift driven by AI disruption of its core textbook rental and study-support products. Management is betting that the shift to employability, combined with AI-first cost architecture and skilling partnerships, positions the company for sustainable cash generation and long-term growth.
Tone: cautiousRevenue
$376.9M
CHGG 10-K · FY 2025
Employees
595
Revenue FY2024
$617.6M
Founded
2005
Profile
CHGG 10-K Item 1 · Mar 9, 2026Chegg is a learning platform serving both businesses and individual learners, offering workforce skilling, professional language learning, and AI-driven academic support. The company operates two segments — Chegg Skilling and Academic Services — and is actively transitioning from a student-focused subscription model toward a business-to-business skilling organization. Revenue has declined sharply as generative AI adoption by students has eroded its core academic services business.
Read filing description ↓ Collapse description ↑
Chegg is a learning platform helping businesses bring new skills to their workforce and giving lifelong learners and students the skills and confidence to succeed. Focused on the large and growing skilling market, Chegg offers innovative tools for workplace readiness, professional upskilling, and language learning. Chegg also continues to offer students artificial intelligence (AI)-driven, personalized support. Chegg remains committed to its mission of improving learning outcomes and career opportunities for millions of people around the world. Our long-term strategy is focused on helping learners achieve better outcomes by combining academic support with practical, career-relevant skills across the learning lifecycle. We are evolving our platform to support learners both in the classroom and beyond, leveraging AI to deliver faster, more personalized, and more effective learning experiences. We continue to invest in expanding our skilling offerings and integrating them with our core academic services to provide a differentiated, end-to-end solution that supports the whole learner. Our use of AI in our platform is designed to enable us to scale personalized support, improve learning outcomes, and increase course completion while maintaining high standards of quality and accuracy. We believe these investments position us to drive deeper engagement, expand our addressable market, and return the business to sustainable revenue growth over time. Our service and product offerings fall into two categories: Chegg Skilling and Academic Services.
Primary products
- Chegg Study Pack
- Chegg Study
- Chegg Writing
- Chegg Math
- language learning platform
- workforce skilling programs
Business segments
End markets
Geographies
Named customers
We rely on a variety of customers and are not materially dependent on any single customer or group of customers. No customers represented over 10% of net revenues during the years ended December 31, 2025, 2024 or 2023).
Named competitors
“We believe that we have competitive strengths that position us favorably in each aspect of our business. However, the education industry is evolving rapidly, including the utilization of AI and machine learning, and is increasingly competitive.” Competitive position, as stated in the filing
Revenue commentary · FY 2025
Net revenues declined from $617.6 million in 2024 to $376.9 million in 2025, driven by continued student adoption of generative AI products and headwinds from Google's AI Overviews search experience reducing traffic and subscriber growth.
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