Exceeded Q1 Revenue and EBITDA Guidance
Chegg surpassed its revenue and adjusted EBITDA guidance for Q1 2025, generating approximately $16 million in free cash flow.
Expansion of Business Institution Effort
The business institution effort expanded from 5 to 15 pilots from Q4 to Q1, with a goal to reach 40 by the end of the year.
Successful Licensing Agreements
Chegg signed two agreements to license question-and-answer pairs to language model companies, generating $4 million in Q1 and expecting an additional $7 million in Q2.
Busuu Revenue Growth
Busuu, Chegg's language learning service, saw Q1 revenue increase by 7% year-over-year, with a 29% year-over-year revenue increase in its B2B business.
Chegg Skills Pilot Programs
Chegg Skills entered pilot programs with EdifyOnline and Noodle, focusing on AI programs to support a higher education initiative in India.