Chegg Inc

chegg.com

What Do They Do?

Provides study, writing and math services for students, plus language-learning courses and workforce-skilling programs for learners and employers.

How Do They Make Money?

Students and language learners subscribe to services, with revenue earned over monthly subscription periods; employers' workforce programs earn revenue during delivery or at fulfillment. Advertising and content licensing earn revenue upon fulfillment.

revenue

Segment	Share	Revenue	How money arrives
Chegg Skilling Mix	18%		Mix
Academic Services Recurring	82%		Recurring

Who Are Their Customers?

Students and lifelong learners access academic and language-learning services directly through Chegg's platform; businesses use its workforce-skilling programs.

Do Revenues Turn Into Profits?

No. It lost $103.4M in FY2025.

Operating income, FY2025

−31% of revenue

▼ −84% (Loss) vs FY2024 (−$737.1M, −119%)

Net income, FY2025

−27% of revenue

▼ −88% (Loss) vs FY2024 (−$837.1M, −136%)

Free cash flow, FY2025

−3% of revenue

▼ Now a loss vs FY2024 ($50.3M, 8%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q2 FY2026, the three months to Jun 30, 2026

Revenue: ▼ −51%; vs $105.1M in Q2 FY2025
Net income: ▼ −92% (Loss); vs −$35.7M in Q2 FY2025

Academic Services share of revenue vs 83.6% in Q2 FY2025

Jul 24, 2026 NYSE notified Chegg of a minimum-share-price listing deficiency Chegg has a six-month cure period to regain compliance; otherwise its shares could face suspension and delisting.
Apr 15, 2026 Chegg appointed Grant Thornton as auditor, replacing Deloitte The appointment took effect immediately.

Shrinking. Revenue fell 51% in 4 years, from $776.3M in FY2021 to $376.9M in FY2025, about 17% a year.

Employer-focused skilling Chegg describes an evolution toward a business-to-business skilling organization built on employer relationships; the earlier report said skills courses were offered through its website, partners and directly to large employers.

Revenue over time

Chegg Skilling Academic Services

$1B$500M$0

FY2023 FY2024 FY2025

Who Do They Compete With?

Competes with GoFluent, Speexx, Duolingo, 2U, Simplilearn, General Assembly, Galvanize, Flatiron School, Codecademy, DataCamp, Lambda, Google, OpenAI, Microsoft, Meta, Anthropic, Course Hero, Quizlet, Brainly, and Khan Academy

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