Slide 1: Q1-26 Investor Presentation
Q1-26 Investor Presentation May 6, 2026 © 2026 Chegg, Inc. / All Rights Reserved
Slide 2: Safe Harbor Statement
Safe Harbor Statement Forward-Looking Statements This investor presentation contains forward-looking statements made pursuant to the safe harbor the outcome of any current litigation and investigations, including our litigation against Google and provisions of the Private Securities Litigation Refor
Slide 3: Who Are We?
We put learners first Chegg’s mission is to improve learning outcomes and career opportunities for learners around the world. Who Are We? 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
Slide 4: Q1-26 Highlights
Q1-26 Highlights We delivered a strong first quarter, outperforming our revenue, adjusted EBITDA, and cash flow expectations, reflecting continued progress against our priorities and momentum in the business. Chegg Study outperformed our expectations. While traffic remained under pressure, monthly r
Slide 5: Chegg Skilling
Chegg Skilling • Global workforce skilling is a $40 billion+ market. • Chegg is well positioned to serve this market - particularly in AI, language, technical fluency, and durable skills. • Our brand is trusted by learners worldwide, and our skills courses are grounded in learning science and data-d
Slide 6: Chegg Skilling - Language Learning
Chegg Skilling - Language Learning Uniquely designed to serve success seekers who are highly motivated learners aiming for academic and professional excellence. Busuu offers an unparalleled combination of AI-powered, self paced study and live practice with native speakers worldwide. It offers a comp
Slide 7: Chegg Skilling – Language Learning Integrating AI to Deliver Speaking and Conversations
Chegg Skilling – Language Learning Integrating AI to Deliver Speaking and Conversations AI Speaking Practice AI Conversations AI-Powered Feature: ● Conversational AI provides feedback based on real-life ● Learners practice pronunciation scenarios related to Busuu courses using functional and (e.g.,
Slide 8: Chegg Skilling - Skills Drives Real Business Results
Chegg Skilling - Skills Drives Real Business Results Helps working adults and students gain practical, role-relevant skills that drive real business results. The programs bridge the gap between today’s job demands and tomorrow’s opportunities — helping employers future- proof their workforce and lea
Slide 9: Chegg Skilling – Skills Impact
Chegg Skilling – Skills Impact Chegg Skills development drives career growth and confidence… • 80% of graduates say that Chegg Skills has positively impacted their career • 71% report their future career outlook has improved • 73% of them believe that their program has prepared them to succeed in th
Slide 10: Chegg Skilling - Skills
Chegg Skilling - Skills We deliver a technology-driven and human-supported learning experience that enhances professional growth. Our programs combine industry-aligned curriculum, personalized coaching, and AI-enabled tools to help learners stay competitive in an evolving job market. FOUNDATIONS OF
Slide 11: Financial Highlights: Q1 2026 Chegg Skilling Revenue
Financial Highlights: Q1 2026 Chegg Skilling Revenue Chegg Skilling revenue was $18 million, up 9% year-over-year. We expect double-digit revenue growth for 2026 and anticipate stronger performance in the second half than in the first, driven by continued investment in the business and the addit
Slide 12: Financial Highlights: Q1 2026 Adjusted EBITDA, Free Cash Flow, and CapEx
Financial Highlights: Q1 2026 Adjusted EBITDA, Free Cash Flow, and CapEx Adjusted EBITDA Free Cash Flow CapEx 25 20 42 $19 $16 20 36 $15 15 30 15 24 10 10 18 $3 12 $9 5 5 6 $1 0 0 0 Q1-25 Q1-26 Q1-25 Q1-26 Q1-25 Q1-26 $ millions $ millions $ millions Free cash flow was primarily impacted by $12.9
Slide 13: Balance Sheet
Balance Sheet We ended the quarter with cash and investments of $68 million and a net cash balance of $34 million. © 2026 Chegg, Inc. / All Rights Reserved 13
Slide 14: Business Outlook
Business Outlook Q1 2026 Results Q2 2026 Guidance Full Year 2026 Guidance Total Net Revenue $63.3m $49m - $50m Skilling Revenue $17.6m $17.5-18m Double digit y/y growth Gross Margin % 60% 51%-52% Adjusted EBTIDA1 $15.5m $5m - $6m CapEx $1m A decrease of ~60% y/y Free Cash Flow1 $3.1m (1) Non-GAAP fi
Slide 15: Appendix
Appendix © 2026 Chegg, Inc. / All Rights Reserved
Slide 16: Reconciliation of Net Income (Loss) to EBITDA and Adjusted EBITDA
Reconciliation of Net Income (Loss) to EBITDA and Adjusted EBITDA © 2026 Chegg, Inc. / All Rights Reserved 16
Slide 17: Reconciliation of Forward-Looking Net Loss to EBITDA and Adjusted EBITDA
Reconciliation of Forward-Looking Net Loss to EBITDA and Adjusted EBITDA © 2026 Chegg, Inc. / All Rights Reserved 17
Slide 18: Reconciliation of Net Cash Provided by Operating Activities to Free Cash Flow
Reconciliation of Net Cash Provided by Operating Activities to Free Cash Flow © 2026 Chegg, Inc. / All Rights Reserved 18