Last updated: 11/03/26
In Thousands, Except Percentages
FY 2023 | Q1'24 | Q2'24 | Q3'24 | Q4'24 | FY 2024 | Q1'25 | Q2'25 | Q3'25 | Q4'25 | FY'25 | Q1'26 | Q2'26 | Q3'26 | |
REVENUES | ||||||||||||||
Total Net Revenues Y/Y change | $ 716,295 (7)% | $ 174,350 (7)% | $ 163,147 (11)% | $ 136,593 (13)% | $ 143,484 (24)% | $ 617,574 (14)% | $ 121,387 (30)% | $ 105,120 (36)% | $ 77,742 (43)% | $ 72,659 (49)% | $ 376,908 (39)% | $ 63,262 (48)% | $ 51,849 (51)% | $ 46,468 (40)% |
EBITDA AND ADJUSTED EBITDA | ||||||||||||||
EBITDA % of revenue Y/Y change | $ 183,803 26% n/m | $ 27,976 16% (16)% | $ (458,182) n/m n/m | $ (195,131) n/m n/m | $ 17,905 12% (54)% | $ (607,432) n/m n/m | $ 16,089 13% (42)% | $ (18,173) (17)% (96)% | $ (426) (1)% (100)% | $ (18,405) (25)% n/m | $ (20,915) (6)% (97)% | $ 14,066 22 % (13)% | $ 10,508 20 % n/m | $ 7,987 17 % n/m |
Adjusted EBITDA % of revenue Y/Y change | $ 222,389 31 % (13)% | $ 46,740 27 % (19)% | $ 44,096 27 % (26)% | $ 22,266 16 % (43)% | $ 36,565 25 % (45)% | $ 149,667 24 % (33)% | $ 19,269 16 % (59)% | $ 23,106 22 % (48)% | $ 13,254 17 % (40)% | $ 12,892 18 % (65)% | $ 68,521 18 % (54)% | $ 15,456 24 % (20)% | $ 9,051 17 % (61)% | $ 5,435 12 % (59)% |
RECONCILIATION OF NET INCOME (LOSS) TO EBITDA AND ADJUSTED EBITDA | ||||||||||||||
Net income (loss) Interest expense, net Provision for (benefit from) income taxes Depreciation and amortization expense EBITDA Share-based compensation expense Other income, net Impairment expense Content and related assets charge Restructuring charges (credits) Impairment of equity investment Acquisition-related compensation costs Transitional logistics charges Impairment of lease related assets Gain on lease termination Legal settlements Adjusted EBITDA | $ 18,180 3,773 32,132 129,718 183,803 133,502 (121,810) 3,600 4,047 5,704 - 6,290 253 - - 7,000 $ 222,389 | $ (1,420) 650 9,059 19,687 | $ (616,884) 651 138,345 19,706 | $ (212,639) 658 (2,723) 19,573 | $ (6,125) 631 4,021 19,378 | $ (837,068) 2,590 148,702 78,344 (607,432) 84,614 (51,332) 677,239 3,666 24,603 - 752 - 5,557 - 12,000 $ 149,667 | $ (17,484) 467 1,012 32,094 | $ (35,663) 41 1,223 16,226 | $ (17,471) 41 1,683 15,321 | $ (32,803) 41 (639) 14,996 | $ (103,421) 590 3,279 78,637 (20,915) 31,864 (17,304) 2,000 522 51,539 6,000 - - 7,315 - 7,500 $ 68,521 | $ 228 31 (140) 13,947 | $ (2,951) 22 392 13,045 | $ (4,690) 15 277 12,385 |
27,976 29,289 (10,780) - - - - 255 - - - - | (458,182) 18,047 (7,119) 481,531 729 6,728 - 173 - 2,189 - - | (195,131) 21,931 (7,586) 195,708 - 2,112 - 132 - - - 5,100 | 17,905 15,347 (25,847) - 2,937 15,763 - 192 - 3,368 - 6,900 | 16,089 11,257 (12,997) 2,000 - 2,920 - - - - - - | (18,173) 7,912 (2,059) - - 18,922 6,000 - - 3,004 - 7,500 | (426) 5,925 (1,377) - - 9,132 - - - - - - | (18,405) 6,770 (871) - 522 20,565 - - - 4,311 - - | 14,066 2,711 (1,156) - - (165) - - - - - - | 10,508 2,324 (638) - - (143) - - - - - (3,000) | 7,987 2,055 (704) - - (228) - - - - (3,675) - | ||||
$ 46,740 | $ 44,096 | $ 22,266 | $ 36,565 | $ 19,269 | $ 23,106 | $ 13,254 | $ 12,892 | $ 15,456 | $ 9,051 | $ 5,435 | ||||
*The presentation of these non-GAAP financial measures is not intended to be considered in isolation from, as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP, and may be different from non-GAAP financial measures used by other companies.
*All information provided in this data sheet is as of the date hereof and Chegg undertakes no duty to update this information except as required by law.
*n/m - not meaningful.
CHEGG, INC. RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (in thousands, except percentages and per share amounts) (unaudited) | |||||||||||||||
FY 2023 | Q1'24 | Q2'24 | Q3'24 | Q4'24 | FY 2024 | Q1'25 | Q2'25 | Q3'25 | Q4'25 | FY 2025 | Q1'26 | Q2'26 | Q3'26 | ||
Total Net Revenues | A | $ 716,295 | $ 174,350 | $ 163,147 | $ 136,593 | $ 143,484 | $ 617,574 | $ 121,387 | $ 105,120 | $ 77,742 | $ 72,659 | $ 376,908 | $ 63,262 | $ 51,849 | $ 46,468 |
Cost of revenues | $ 225,941 | $ 46,497 | $ 45,411 | $ 43,420 | $ 45,599 | $ 180,927 | $ 53,973 | $ 35,478 | $ 31,701 | $ 30,999 | $ 152,151 | $ 25,374 | $ 23,567 | $ 22,229 | |
Content and related assets charge | (38,242) | - | (729) | - | (2,937) | (3,666) | - | - | - | (522) | (522) | - | - | - | |
Amortization of intangible assets | (12,970) | (3,142) | (3,071) | (1,423) | (1,077) | (8,713) | (1,077) | (1,076) | (1,077) | (1,077) | (4,307) | (1,077) | (1,007) | (937) | |
Share-based compensation expense | (2,256) | (513) | (466) | (471) | (336) | (1,786) | (238) | (131) | (102) | (32) | (503) | (20) | (15) | (14) | |
Acquisition-related compensation costs | (21) | (6) | (5) | (5) | (5) | (21) | - | - | - | - | - | - | - | - | |
Restructuring (charges) credits | (12) | - | (191) | (12) | (559) | (762) | - | (741) | (915) | (443) | (2,099) | 26 | - | - | |
Transitional logistics charges | (253) | - | - | - | - | - | - | - | - | - | - | - | - | - | |
Non-GAAP cost of revenues | $ 172,187 | $ 42,836 | $ 40,949 | $ 41,509 | $ 40,685 | $ 165,979 | $ 52,658 | $ 33,530 | $ 29,607 | $ 28,925 | $ 144,720 | $ 24,303 | $ 22,545 | $ 21,278 | |
Gross profit | B | $ 490,354 | $ 127,853 | $ 117,736 | $ 93,173 | $ 97,885 | $ 436,647 | $ 67,414 | $ 69,642 | $ 46,041 | $ 41,660 | $ 224,757 | $ 37,888 | $ 28,282 | $ 24,239 |
Content and related assets charge | 38,242 | - | 729 | - | 2,937 | 3,666 | - | - | - | 522 | 522 | - | - | - | |
Amortization of intangible assets | 12,970 | 3,142 | 3,071 | 1,423 | 1,077 | 8,713 | 1,077 | 1,076 | 1,077 | 1,077 | 4,307 | 1,077 | 1,007 | 937 | |
Share-based compensation expense | 2,256 | 513 | 466 | 471 | 336 | 1,786 | 238 | 131 | 102 | 32 | 503 | 20 | 15 | 14 | |
Acquisition-related compensation costs | 21 | 6 | 5 | 5 | 5 | 21 | - | - | - | - | - | - | - | - | |
Restructuring charges (credits) | 12 | - | 191 | 12 | 559 | 762 | - | 741 | 915 | 443 | 2,099 | (26) | - | - | |
Transitional logistics charges | 253 | - | - | - | - | - | - | - | - | - | - | - | - | - | |
Non-GAAP gross profit | C | $ 544,108 | $ 131,514 | $ 122,198 | $ 95,084 | $ 102,799 | $ 451,595 | $ 68,729 | $ 71,590 | $ 48,135 | $ 43,734 | $ 232,188 | $ 38,959 | $ 29,304 | $ 25,190 |
Gross margin % | B / A | 68 % | 73 % | 72 % | 68 % | 68 % | 71 % | 56 % | 66 % | 59 % | 57 % | 60 % | 60 % | 55 % | 52 % |
Non-GAAP gross margin % | C / A | 76 % | 75 % | 75 % | 70 % | 72 % | 73 % | 57 % | 68 % | 62 % | 60 % | 62 % | 62 % | 57 % | 54 % |
Operating expenses | $ 558,079 | $ 130,344 | $ 602,743 | $ 315,463 | $ 125,205 | $ 1,173,755 | $ 96,416 | $ 106,100 | $ 63,165 | $ 75,932 | $ 341,613 | $ 38,925 | $ 31,457 | $ 29,341 | |
Share-based compensation expense | (131,246) | (28,776) | (17,581) | (21,460) | (15,011) | (82,828) | (11,019) | (7,781) | (5,823) | (6,738) | (31,361) | (2,691) | (2,309) | (2,041) | |
Amortization of intangible assets | (11,417) | (856) | (435) | - | - | (1,291) | - | - | - | - | - | - | - | - | |
Acquisition-related compensation costs | (6,269) | (249) | (168) | (127) | (187) | (731) | - | - | - | - | - | - | - | - | |
Impairment expense | (3,600) | - | (481,531) | (195,708) | - | (677,239) | (2,000) | - | - | - | (2,000) | - | - | - | |
Restructuring (charges) credits | (5,692) | - | (6,537) | (2,100) | (15,204) | (23,841) | (2,920) | (18,181) | (8,217) | (20,122) | (49,440) | 139 | 143 | 228 | |
Gain on lease termination | - | - | - | - | - | - | - | - | - | - | - | - | - | 3,675 | |
Legal settlements | (7,000) | - | - | (5,100) | (6,900) | (12,000) | - | (7,500) | - | - | (7,500) | - | 3,000 | - | |
Impairment of equity investment | - | - | - | - | - | - | - | (6,000) | - | - | (6,000) | - | - | - | |
Impairment of lease related assets | - | - | (2,189) | - | (3,368) | (5,557) | - | (3,004) | - | (4,311) | (7,315) | - | - | - | |
Non-GAAP operating expenses | $ 392,855 | $ 100,463 | $ 94,302 | $ 90,968 | $ 84,535 | $ 370,268 | $ 80,477 | $ 63,634 | $ 49,125 | $ 44,761 | $ 237,997 | $ 36,373 | $ 32,291 | $ 31,203 | |
Loss from operations | $ (67,725) | $ (2,491) | $ (485,007) | $ (222,290) | $ (27,320) | $ (737,108) | $ (29,002) | $ (36,458) | $ (17,124) | $ (34,272) | $ (116,856) | $ (1,037) | $ (3,175) | $ (5,102) | |
Share-based compensation expense | 133,502 | 29,289 | 18,047 | 21,931 | 15,347 | 84,614 | 11,257 | 7,912 | 5,925 | 6,770 | 31,864 | 2,711 | 2,324 | 2,055 | |
Amortization of intangible assets | 24,387 | 3,998 | 3,506 | 1,423 | 1,077 | 10,004 | 1,077 | 1,076 | 1,077 | 1,077 | 4,307 | 1,077 | 1,007 | 937 | |
Acquisition-related compensation costs | 6,290 | 255 | 173 | 132 | 192 | 752 | - | - | - | - | - | - | - | - | |
Impairment expense | 3,600 | - | 481,531 | 195,708 | - | # | 2,000 | - | - | - | 2,000 | - | - | - | |
Content and related assets charge | 38,242 | - | 729 | - | 2,937 | 3,666 | - | - | - | 522 | 522 | - | - | - | |
Transitional logistics charges | 253 | - | - | - | - | - | - | - | - | - | - | - | - | - | |
Restructuring charges (credits) | 5,704 | - | 6,728 | 2,112 | 15,763 | 24,603 | 2,920 | 18,922 | 9,132 | 20,565 | 51,539 | (165) | (143) | (228) | |
Gain on lease termination | - | - | - | - | - | - | - | - | - | - | - | - | - | (3,675) | |
Legal settlements | 7,000 | - | - | 5,100 | 6,900 | 12,000 | - | 7,500 | - | - | 7,500 | - | (3,000) | - | |
Impairment of equity investment | - | - | - | - | - | - | - | 6,000 | - | - | 6,000 | - | - | - | |
Impairment of lease related assets | - | - | 2,189 | - | 3,368 | 5,557 | - | 3,004 | - | 4,311 | 7,315 | - | - | - | |
Non-GAAP income (loss) from operations | $ 151,253 | $ 31,051 | $ 27,896 | $ 4,116 | $ 18,264 | $ 81,327 | $ (11,748) | $ 7,956 | $ (990) | $ (1,027) | $ (5,809) | $ 2,586 | $ (2,987) | $ (6,013) | |
*The presentation of these non-GAAP financial measures is not intended to be considered in isolation from, as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP, and may be different from non-GAAP financial measures used by other companies.
*All information provided in this data sheet is as of the date hereof and Chegg undertakes no duty to update this information except as required by law.
CHEGG, INC. RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (in thousands, except percentages and per share amounts) (unaudited) | ||||||||||||||
FY 2023 | Q1'24 | Q2'24 | Q3'24 | Q4'24 | FY 2024 | Q1'25 | Q2'25 | Q3'25 | Q4'25 | FY 2025 | Q1'26 | Q2'26 | Q3'26 | |
Net income (loss) D | $ 18,180 | $ (1,420) | $ (616,884) | $ (212,639) | $ (6,125) | $ (837,068) | $ (17,484) | $ (35,663) | $ (17,471) | $ (32,803) | $ (103,421) | $ 228 | $ (2,951) | $ (4,690) |
Share-based compensation expense | 133,502 | 29,289 | 18,047 | 21,931 | 15,347 | 84,614 | 11,257 | 7,912 | 5,925 | 6,770 | 31,864 | 2,711 | 2,324 | 2,055 |
Amortization of intangible assets | 24,387 | 3,998 | 3,506 | 1,423 | 1,077 | 10,004 | 1,077 | 1,076 | 1,077 | 1,077 | 4,307 | 1,077 | 1,007 | 937 |
Acquisition-related compensation costs | 6,290 | 255 | 173 | 132 | 192 | 752 | - | - | - | - | - | - | - | - |
Amortization of debt issuance costs | 3,156 | 541 | 540 | 547 | 519 | 2,147 | 377 | 41 | 41 | 41 | 500 | 31 | 22 | 15 |
Income tax effect of non-GAAP adjustments | (12,633) | 713 | 129,937 | (4,468) | (1,442) | 124,740 | 528 | 2,009 | 1,717 | (690) | 3,564 | 118 | 204 | (148) |
Impairment expense | 3,600 | - | 481,531 | 195,708 | - | 677,239 | 2,000 | - | - | - | 2,000 | - | - | - |
Content and related assets charge | 38,242 | - | 729 | - | 2,937 | 3,666 | - | - | - | 522 | 522 | - | - | - |
Gain on early extinguishment of debt | (85,926) | - | - | - | (19,515) | (19,515) | (7,360) | - | - | (478) | (7,838) | (523) | - | - |
Gain on sale of equity investment | - | (3,783) | - | - | - | (3,783) | - | - | - | - | - | - | - | - |
Transitional logistics charges | 253 | - | - | - | - | - | - | - | - | - | - | - | - | - |
Restructuring charges (credits) | 5,704 | - | 6,728 | 2,112 | 15,763 | 24,603 | 2,920 | 18,922 | 9,132 | 20,565 | 51,539 | (165) | (143) | (228) |
Gain on lease termination | - | - | - | - | - | - | - | - | - | - | - | - | - | (3,675) |
Legal settlements | 7,000 | - | - | 5,100 | 6,900 | 12,000 | - | 7,500 | - | - | 7,500 | - | (3,000) | - |
Impairment of equity investment | - | - | - | - | - | - | - | 6,000 | - | - | 6,000 | - | - | - |
Impairment of lease related assets | - | - | 2,189 | - | 3,368 | 5,557 | - | 3,004 | - | 4,311 | 7,315 | - | - | - |
Non-GAAP net income (loss) E | $ 141,755 | $ 29,593 | $ 26,496 | $ 9,846 | $ 19,021 | $ 84,956 | $ (6,685) | $ 10,801 | $ 421 | $ (685) | $ 3,852 | $ 3,477 | $ (2,537) | $ (5,734) |
Weighted average shares used to compute net income (loss) per share, diluted F | 128,569 | 102,343 | 102,604 | 103,723 | 104,513 | 103,300 | 105,159 | 106,908 | 108,450 | 109,360 | 107,484 | 112,130 | 111,422 | 111,025 |
Effect of shares for stock plan activity | 514 | 792 | 310 | 67 | 297 | 1,019 | - | 455 | 1,699 | - | 1,660 | 1,329 | - | - |
Effect of shares related to convertible senior notes | - | 9,234 | 9,234 | 9,234 | 9,234 | 9,234 | - | 583 | 583 | - | 2,069 | - | - | - |
Non-GAAP weighted average shares used to compute non-GAAP net income (loss) per share, diluted G | 129,083 | 112,369 | 112,148 | 113,024 | 114,044 | 113,553 | 105,159 | 107,946 | 110,732 | 109,360 | 111,213 | 113,459 | 111,422 | 111,025 |
Net (loss) income per share, diluted D / F | $ (0.34) | $ (0.01) | $ (6.01) | $ (2.05) | $ (0.06) | $ (8.10) | $ (0.17) | $ (0.33) | $ (0.16) | $ (0.30) | $ (0.96) | $ - | $ (0.03) | $ (0.04) |
Non-GAAP net income (loss) per share, diluted E / G | $ 1.10 | $ 0.26 | $ 0.24 | $ 0.09 | $ 0.17 | $ 0.75 | $ (0.06) | $ 0.10 | $ 0.00 | $ (0.01) | $ 0.03 | $ 0.03 | $ (0.02) | $ (0.05) |
*The presentation of these non-GAAP financial measures is not intended to be considered in isolation from, as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP, and may be different from non-GAAP financial measures used by other companies.
*All information provided in this data sheet is as of the date hereof and Chegg undertakes no duty to update this information except as required by law.