Slide 1: Q3-25 Investor Presentation
Q3-25 Investor Presentation November 10, 2025 © 2024 Chegg, Inc. / All Rights Reserved
Slide 2: Safe Harbor Statement
Safe Harbor Statement Forward-Looking Statements This press release contains forward-looking statements made pursuant to the safe harbor provisions of the political and industry conditions, including escalating international trade tensions, including tariffs and trade Private Securities Litigation R
Slide 3: Who Are We?
We put learners first Chegg’s mission is to improve learning outcomes and career opportunities for millions 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: Q3-25 Highlights
Q3-25 Highlights We delivered a good third quarter, surpassing our revenue guidance, and outperforming our adjusted EBITDA guidance by $5 million, as a direct result of our cost cutting and restructurings. We split the company into two units: our growth business, Chegg Skilling, which we expect to h
Slide 5: Busuu – Language Learning
Busuu – Language Learning Uniquely designed to serve success seekers who are highly motivated learners aiming for academic and professional excellence. Busuu offers and an unparalleled combination of AI-powered, self paced study and live practice with native speakers worldwide. It offers a comprehen
Slide 6: Busuu – Integrating AI to Deliver Speaking and Conversations
Busuu – 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., for travelling, dining, com
Slide 7: Chegg Skills – Drives Real Business Results
Chegg Skills – Drives Real Business Results Helps working adults 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 learners advance their ca
Slide 8: Chegg Skills: ~$40+B Market Serving Workplace Readiness, AI Skills and Upskilling
Chegg Skills : ~$40+B Market Serving Workplace Readiness, AI Skills and Upskilling 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
Slide 9: Financial Highlights: Q3 2025 Revenue
Financial Highlights: Q3 2025 Revenue Total revenue was $78 million, a decrease of 43% year-over-year. Total revenue was impacted by lower levels of traffic which led to fewer subscription services subscribers, as well as fewer sessions, which significantly reduced advertising revenue reported i
Slide 10: Financial Highlights: Q3 2025 Adj. EBITDA, Free Cash Flow, and CapEx
Financial Highlights: Q3 2025 Adj. EBITDA, Free Cash Flow, and CapEx Adjusted EBITDA Free Cash Flow CapEx 25 $22 25 70% $24 70% 42 70% 60% 20 20 60% 36 60% 50% 50% 30 50% 15 $13 15 40% 40% 24 40% 10 30% 18 $16 30% 10 17% 30% 20% 5 20% 12 $6 5 20% 10% 6 10% 0 16% 17% 0 0% 0 10% 12% 8% 0% Q3-24 Q3-25
Slide 11: Balance Sheet
Balance Sheet We ended the quarter with cash and investments of $112 million and a net cash balance of $49 million. © 2024 Chegg, Inc. / All Rights Reserved 11
Slide 12: Business Outlook
Business Outlook Q3 2025 Results Q4 2025 Guidance Full Year 2025 Guidance Total Net Revenue $78m $70m - $72m Skilling Revenue $18m (up 14% y/y) ~$70m Gross Margin % 59% 57%-58% Adjusted EBTIDA1 $13m $10m - $11m CapEx $6m ~$27m Free Cash Flow1 ($1m) (1) Non-GAAP financial measure. See appendix for re
Slide 13: Appendix
Appendix © 2024 Chegg, Inc. / All Rights Reserved
Slide 14: Reconciliation of Net Loss to EBITDA and Adjusted EBITDA
Reconciliation of Net Loss to EBITDA and Adjusted EBITDA © 2024 Chegg, Inc. / All Rights Reserved 14
Slide 15: Reconciliation of Forward-Looking Net Loss to EBITDA and Adjusted EBITDA
Reconciliation of Forward-Looking Net Loss to EBITDA and Adjusted EBITDA © 2024 Chegg, Inc. / All Rights Reserved 15
Slide 16: Reconciliation of Net Cash Provided by Operating Activities to Free Cash Flow
Reconciliation of Net Cash Provided by Operating Activities to Free Cash Flow © 2024 Chegg, Inc. / All Rights Reserved 16