Chegg reports Q3 2026 results

Item 2.02 Results of Operations and Financial Condition.

On November 3, 2026, Chegg, Inc. ("we," "us," "our," "Company" or "Chegg") issued a press release announcing its financial results for the quarter ended September 30, 2026.¹ A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K.²

The information contained in this Item 2.02, including the press release attached as Exhibit 99.1 to this Current Report on Form 8-K, shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended³, or otherwise subject to the liabilities of that section or Sections 11 and 12(a)(2) of the Securities Act of 1933, as amended. The information contained in this Item 2.02 and in the accompanying Exhibit 99.1 shall not be incorporated by reference into any registration statement or other document filed by Chegg with the Securities and Exchange Commission ("SEC"), whether made before or after the date of this Current Report on Form 8-K, regardless of any general incorporation language in such filing, except as shall be expressly set forth by specific reference in such filing.

Item 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers.

On October 29, 2026, Marcela Martin, a member of the Board of Directors (the "Board") of the Company, notified the Company of her decision to resign from the Board, effective December 10, 2026, following the conclusion of the Company's Board meeting to be held that day.⁹ Ms. Martin's resignation is not the result of any dispute or disagreement with management or any matter relating to the Company's operations, policies, or practices.¹⁰

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.

Description

99.1

Press release issued by Chegg, Inc., dated November 3, 2026

104

Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

CHEGG, INC.

By: /S/ DAVID LONGO

David Longo

Chief Financial Officer

Date: November 3, 2026

Chegg Reports Third Quarter 2026 Earnings

SAN FRANCISCO, Calif., November 3, 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."

Third Quarter 2026 Highlights

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Total Net Revenues of $46.5 million, a decrease of 40% year-over-year⁴

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Gross Margin of 52%⁴

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Non-GAAP Gross Margin of 54%

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Net Loss was $4.7 million⁵

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Non-GAAP Net Loss was $5.7 million⁵

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Adjusted EBITDA was $5.4 million⁵

For more information about non-GAAP gross margin, non-GAAP net (loss) income, and adjusted EBITDA, as well as a reconciliation of gross margin to non-GAAP gross margin, net loss to non-GAAP net (loss) income, and net loss to adjusted EBITDA, see the sections of this press release titled, "Use of Non-GAAP Measures," "Reconciliation of Net Loss to EBITDA and Adjusted EBITDA," and "Reconciliation of GAAP to Non-GAAP Financial Measures."

Business Outlook

Fourth Quarter 2026

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Total Net Revenues between $38 million and $40 million⁷

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Gross Margin in the range of 46% to 48%⁸

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Adjusted EBITDA of approximately $1 million⁸

For more information about the use of forward-looking non-GAAP measures, a reconciliation of forward-looking net loss to EBITDA and adjusted EBITDA for the third quarter 2026 , see the below sections of the press release titled "Use of Non-GAAP Measures," and "Reconciliation of Forward-Looking Net Loss to EBITDA and Adjusted EBITDA."

An updated investor presentation and an investor data sheet can be found on Chegg's Investor Relations website https://investor.chegg.com (such items are not incorporated into any filings Chegg may make with the Securities and Exchange Commission, unless otherwise noted).

Prepared Remarks - Dan Rosensweig, CEO & Executive Chairman Chegg, Inc.

Thank you, Tracey, and thanks everyone for joining Chegg's third quarter 2026 earnings call. Over the last year our focus was rearchitecting our cost structure, accumulating cash, eliminating our debt, and positioning Chegg to return to growth. I am happy to report that the balance sheet reset is complete. In Q3, we had revenue of $46.5 million, adjusted EBITDA of $5.4 million, and ended the quarter with $43.6 million in cash and no debt⁶. Core to our reinvention, we have repositioned Chegg from being a homework help company to an employability company, focused on helping students find internships, assess and learn relevant job skills and find full-time employment. Our mission is simple; to help people get the jobs they want and build the careers they deserve. David will take you through the financials in more detail, but I want to walk you through what we are building.

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. In September, we launched our new employability platform on Internships.com - a comprehensive experience that gives students personalized job matching, resume tailoring, one-click apply, interview prep, skills assessment, and curated network connections, all in one place. We are rapidly expanding the platform's capabilities and will soon be adding 70,000 early career listings as we move beyond internships into entry-level roles. Since launch, we have had over 100,000 visitors to the site, a clear signal that employability is top of mind for students and their families. We recently rolled out our first marketing campaign for Internships.com, both as a standalone product and bundled with Chegg, and the early results are encouraging.

At the same time, we are seeing our first institutional momentum. Since September, we have signed pilot programs with College of Charleston, Salem College, and Radford University, and we have several more schools set to sign in the coming weeks. The reason is straightforward, as institutions, colleges, and universities increasingly know that their own success is measured by whether their graduates get jobs. We are in active conversations with a meaningful number of schools, and we believe this B2I channel is just getting started. Every time Chegg has evolved to serve students' most critical needs, it has entered a new growth chapter. This is that moment. We will continue to expand our offering through 2027 and beyond, but the foundation is live and the momentum is real.

As we expand how we serve students on the path from learning to earning, we continue to invest in our skills platform which, thanks to AI, we are able to develop and launch more programs and more capabilities, rapidly, for more partners at a much lower cost. Our multi-channel approach continues to build, and we believe we are on a path to consistent growth in that business. We have signed 11 new distribution pa