Chegg (CHGG) Q3 FY2026 earnings: revenue $46 million, down 40.2% on the year

Chegg, Inc. (CHGG) reported revenue of $46 million for Q3 FY2026, the quarter ended 30 September 2026, down 40.2% on the same quarter a year earlier. Net income was -$5 million, and diluted earnings per share $-0.04. The figures are the company's own, from the 10-Q it filed with the SEC on 3 November 2026.

Revenue

$46 million

-40.2% on the year · -10.4% on the quarter

Q4 FY2024Q3 FY2026

Operating margin

-11.0%

-22.0% a year earlier

Q4 FY2024Q3 FY2026

Net income

-$5 million

Q4 FY2024Q3 FY2026

Diluted EPS

-$0.04

Q4 FY2024Q3 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 1 raised, 6 new.

Revenue fell 40% year over year: Total net revenues were $46.5 million, down 40% from $77.7 million a year earlier. Nine-month revenue was $161.6 million, against $304.2 million.
Employability platform launched in September: The Internships.com employability platform launched in September and has had over 100,000 visitors. A first marketing campaign for it has rolled out.
Institutional pilots signed since September: Pilot programs have been signed with three named institutions, and management said several more schools are set to sign in the coming weeks.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Revenue	46.5	51.8	77.7	-10.4%	-40.2%
Cost of revenue	22.2	23.6	31.7	-5.7%	-29.9%
Gross profit	24.2	28.3	46.0	-14.3%	-47.4%
Gross margin	52.2%	54.5%	59.2%
Research and development	8.0	7.4	18.4	+7.8%	-56.6%
Operating income	-5.1	-3.2	-17.1
Operating margin	-11.0%	-6.1%	-22.0%
Interest expense	0.0	0.0	0.0	-31.8%	-63.4%
Pre-tax income	-4.4	-2.6	-15.8
Income tax	0.3	0.4	1.7	-29.3%	-83.5%
Net income	-4.7	-3.0	-17.5
Net margin	-10.1%	-5.7%	-22.5%
Diluted EPS	-$0.04 basic	-$0.03	-$0.16

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Operating cash flow	7.2	10.1	4.8	-28.3%	+49.9%
Capital expenditure	1.7	3.7	5.8	-53.2%	-70.3%
Free cash flow	5.5	6.4	-0.9	-14.0%
Free cash flow margin	11.8%	12.3%	-1.2%
Cash from investing	11.1	2.9	-2.3	+282.2%
Cash from financing	-34.0	-1.8	-0.6
Share-based compensation	2.1	2.3	5.9	-11.6%	-65.3%
Buybacks	0.0	n/a	0.0
Diluted shares, weighted	111m	111m	108m	-0.4%	+2.4%
Shares outstanding at period end	111m	111m	109m	+0.1%	+2.1%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Shareholders' equity	116	119	146	-2.5%	-20.9%
Debt	0.0	33.8	62.6
Operating lease liabilities	9.9	12.6	15.4	-21.7%	-35.8%
Other liabilities	62.6	62.6	154	+0.0%	-59.4%
Total liabilities and equity	188	228	378	-17.4%	-50.3%
Fixed assets	85.4	94.9	126	-10.1%	-32.0%
Intangible assets	3.0	4.0	7.1	-23.7%	-57.6%
Investments	14.8	27.7	73.5	-46.7%	-79.9%
Cash and equivalents	28.8	44.6	38.2	-35.4%	-24.4%
Receivables	9.6	10.7	15.4	-11.0%	-38.1%
Other assets	46.5	45.7	118	+1.7%	-60.8%
Total assets	188	228	378	-17.4%	-50.3%

Questions

What was Chegg's revenue in Q3 FY2026?

Chegg (CHGG) reported revenue of $46 million for Q3 FY2026, the quarter ended 30 September 2026, down 40.2% on the same quarter a year earlier.

How much did Chegg earn in Q3 FY2026?

Net loss for Q3 FY2026 was $5 million, and the diluted loss per share $0.04.

When did Chegg report Q3 FY2026 results?

Chegg filed its 10-Q for the quarter ended 30 September 2026 with the SEC on 3 November 2026.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	207	202	195	165	205	188	183	158	188	174	163	137	143	121	105	77.7	72.7	63.3	51.8	46.5
Cost of revenue	55.7	55.1	45.7	45.2	51.4	49.1	47.4	83.6	45.8	46.5	45.4	43.4	45.6	54.0	35.5	31.7	31.0	25.4	23.6	22.2
Gross profit	152	147	149	120	154	138	135	74.3	142	128	118	93.2	97.9	67.4	69.6	46.0	41.7	37.9	28.3	24.2
Gross margin	73%	73%	77%	73%	75%	74%	74%	47%	76%	73%	72%	68%	68%	56%	66%	59%	57%	60%	55%	52%
R&D	47.8	52.4	52.5	45.4	46.3	46.9	52.9	46.2	45.7	44.4	43.7	41.3	41.0	29.4	28.7	18.4	17.0	9.1	7.4	8.0
Operating income	26.2	5.4	7.3	-11.4	7.7	-4.4	-18.7	-57.9	13.3	-2.5	-485	-222	-27.3	-29.0	-36.5	-17.1	-34.3	-1.0	-3.2	-5.1
Operating margin	13%	3%	4%	-7%	4%	-2%	-10%	-37%	7%	-1%	-297%	-163%	-19%	-24%	-35%	-22%	-47%	-2%	-6%	-11%
Interest expense	n/a	n/a	n/a	n/a	n/a	n/a	1.1	0.7	n/a	0.7	0.7	0.7	0.6	0.5	0.0	0.0	0.0	0.0	0.0	0.0
Pre-tax income	25.7	10.0	7.5	84.3	2.2	6.4	44.3	-18.1	17.8	7.6	-479	-215	-2.1	-16.5	-34.4	-15.8	-33.4	0.1	-2.6	-4.4
Tax rate	5%	42%	1%	-198%	14%	66%	44%	n/a	46%	119%	n/a	n/a	n/a	n/a	n/a	n/a	n/a	-159%	n/a	n/a
Net income	24.3	5.7	7.5	252	1.9	2.2	24.6	-18.3	9.7	-1.4	-617	-213	-6.1	-17.5	-35.7	-17.5	-32.8	0.2	-3.0	-4.7
Net margin	12%	3%	4%	153%	1%	1%	13%	-12%	5%	-1%	-378%	-156%	-4%	-14%	-34%	-22%	-45%	0%	-6%	-10%
Diluted EPS	$0.23	$0.04	$0.06	$1.23	$0.01	$0.02	-$0.11	-$0.16	$0.09	-$0.01	-$6.01	-$2.05	-$0.06	-$0.17	-$0.33	-$0.16	-$0.30	$0.00	-$0.03	-$0.04 basic
Operating cash flow	65.1	80.0	63.7	38.0	74.0	73.2	62.7	32.8	77.5	53.3	14.2	39.5	18.1	24.5	-4.8	4.8	-9.0	4.1	10.1	7.2
Capital expenditure	27.1	29.5	27.8	22.0	23.9	17.2	16.7	23.4	25.8	28.0	17.8	15.8	13.3	8.7	7.2	5.8	6.5	1.0	3.7	1.7
Free cash flow	38.0	50.5	36.0	16.0	50.2	56.0	46.0	9.4	51.7	25.3	-3.6	23.7	4.8	15.9	-12.1	-0.9	-15.5	3.1	6.4	5.5
Buybacks	300	300	0.0	23.1	0.0	151	35.1	0.0	148	0.0	0.0	0.0	2.6	n/a	n/a	0.0	n/a	n/a	n/a	0.0
Shares outstanding	137m	127m	126m	125m	126m	120m	115m	116m	103m	102m	103m	104m	105m	105m	108m	109m	111m	112m	111m	111m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 30 September 2026, filed 3 November 2026: the filing.