EarningsQ2 2026 Earnings Report
MX:CHGG Q2 2026 EPS Results
Actual EPS-$0.36
Consensus EPS-$0.91
Beat/MissBeat by +$0.54
One Year Ago EPS$1.82
MX:CHGG Q2 2026 Revenue Results
Actual Revenue$941.61M
Expected Revenue$898.95M
Beat/MissBeat by +$42.66M
YoY Revenue Growth-50.68%
Earnings Announcement Details
QuarterQ2 2026
Date08/06/2026
TimeBefore Open
Conference CallThursday, August 6, 2026
MX:CHGG Upcoming Earnings
Chegg's next earnings date is estimated for November 2, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:CHGG Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Neutral
The call presented a mix of encouraging operational improvements (revenue beat, major expense and CapEx reductions, improved cash generation, a stronger balance sheet and early product traction) alongside meaningful near-term headwinds (Q3 revenue and EBITDA guidance well below Q2 levels, significant restructuring-related severance, and seasonality/timing risks). Management emphasized a longer-term strategic pivot to an AI-first, employability-focused platform with early beta adoption and partner wins, but execution and multi-quarter monetization remain workstreams. Overall the company appears financially stabilized and positioned for a multi-year transition, while facing a meaningful short-term earnings and revenue dip.Company Guidance
Revenue Beat in Q2 2026
Total revenue of $51.8 million in Q2 2026 exceeded company expectations.
Strong Adjusted EBITDA and Margin
Adjusted EBITDA was $9.1 million in the quarter, representing a 17% adjusted EBITDA margin.
Significant Operating Expense Reduction
Q2 non-GAAP operating expenses were $32.3 million, nearly cutting operating expenses by ~50% year-over-year, reflecting restructurings and AI-driven efficiency gains.
Material CapEx Reductions
Q2 CapEx was $3.7 million, down 49% year-over-year, and management is targeting a 60% reduction in full-year 2026 CapEx.
Positive Free Cash Flow and Balance Sheet Strength
Free cash flow was $6.4 million in Q2 (including ~$1.5 million of severance) and $9.5 million in the first half despite $14.4 million in severance payments; cash & investments totaled $72.3 million with a net cash position of $38.5 million.
Share Repurchases and Debt Reduction Plans
Repurchased $1.7 million of common stock in the quarter and have $120.7 million remaining on the repurchase authorization; expect to fully repay convertible debt in Q3, further strengthening the balance sheet.
Early Traction on New Employability Strategy
Soft launch planned beginning in Q3 for an AI-driven employability platform; over 10,000 students participated in the beta. Chegg also signed 6 new skills partners this year (including OpenSesame and Dale Carnegie) and is reactivating internships.com to drive acquisition.
AI-First Operating Model
Company completed a restructuring toward an AI-first cost structure, citing improved productivity, a leaner operating model, and the ability to scale personalized learning and skilling affordably.
MX:CHGG Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed