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Chegg (CHGG) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 3, 2026 · Chegg (CHGG) Q3 2026 earnings results →
Q3 2026 Revenue down 40% year over year to $46.5M · 10¢ of every $1 of revenue lost · operating margin -11.0%
Chegg made $46.5M in Q3 2026 (-40% Y/Y): Academic Services $30.0M, Chegg Skilling $16.4M. Operating margin -11.0%, net loss $4.7M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 3, 2026.
Drawing the Sankey…
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What changed this quarter
Revenue was $46.5M in Q3 2026, down 40% year over year and down 10% from the previous quarter. Academic Services was the largest line at 65% of revenue. Academic Services lost $30.1M year over year (down 50%), 96% of the total change.
Gross margin was 52.2%, down 7.1 points from Q3 2025. Operating costs exceeded revenue by $5.1M, an operating margin of -11.0%. Operating expenses fell 54% while revenue fell 40%. The quarter ended with a net loss of $4.7M, wider than the previous quarter's $3.0M loss.
Operating cash flow was $7.2M (up 50% year over year). Non-cash charges added back $2.1M of share-based compensation. Working capital and other items added $9.8M. Capital expenditures of $1.7M left free cash flow of $5.5M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 3, 2026 | $46.5M | -40% | -11.0% | −$4.7M | $7.2M |
| Q2 2026 | 10-Q | Aug 6, 2026 | $51.8M | -51% | -6.1% | −$3.0M | $10.1M |
| Q1 2026 | 10-Q | May 11, 2026 | $63.3M | -48% | -1.6% | $228K | $4.1M |
| Q4 2025 | 10-K | Mar 9, 2026 | $72.7M | -49% | -47.2% | −$32.8M | −$9.0M |
| Q3 2025 | 10-Q | Nov 10, 2025 | $77.7M | -43% | -22.0% | −$17.5M | $4.8M |
| Q2 2025 | 10-Q | Aug 8, 2025 | $105M | -36% | -34.7% | −$35.7M | −$4.8M |
| Q1 2025 | 10-Q | May 12, 2025 | $121M | -30% | -23.9% | −$17.5M | $24.5M |
Charts
Interactive views
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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Customers and suppliers named in filings
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About Chegg
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. Focused on the large and growing skilling market, Chegg offers innovative tools for workplace readiness, professional upskilling, and language learning. Chegg also continues to offer students artificial intelligence (AI)-driven, personalized support. Chegg remains committed to its mission of improving learning outcomes and career opportunities for millions of people around the world.
In its own words, from its 10-K, filed Mar 9, 2026.
Chegg against its Services-Educational Services peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -40% against the peers' median +3%. Operating margin: -11.0% against the peers' median 12.0%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| CHGG Chegg | Q3 2026 | $46.5M | -40% | -11.0% |
| GHC Graham Holdings | Q3 2026 | $1.3B | +4% | 6.4% |
| BSAA Best SPAC I Acquisition | Q1 2026 | $1.2B | — | 0.0% |
| LRN Stride | Q1 FY27 | $639M | +3% | 13.2% |
| CVSA Covista | Q1 FY27 | $512M | +11% | 19.2% |
| LAUR Laureate Education | Q3 2026 | $485M | +21% | 24.6% |
| STRA Strategic Education | Q3 2026 | $325M | +2% | -26.9% |
| LOPE Grand Canyon Education | Q3 2026 | $267M | +2% | 19.3% |
| PXED Phoenix Education Partners | Q4 FY26 | $261M | +1% | 12.0% |
Source: Chegg 10-Q on SEC EDGAR · CIK 1364954 · Services-Educational Services
Guidance and outlook
13F: who owns CHGG and who is buying
More on CHGG
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results