Chegg Q3 revenue falls 40% as Academic Services revenue halves. Chegg posted a $0.05 non-GAAP loss per share and expects fourth-quarter gross margin of 46% to 48%, with adjusted EBITDA of about $1 million. Published Nov 3, 2026, 11:49 AM EST Chegg's third-quarter revenue fell 40% to $46.468 million, with Academic Services revenue halving as lower website traffic reduced subscriptions and the company forecast fourth-quarter revenue of $38 million to $40 million. Discover more Bitcoin price prediction Bitcoin investment guide Ethereum blockchain development For the quarter ended Sept. 30, Academic Services generated $30.026 million, compared with $60.159 million a year earlier. Chegg linked the decline mainly to lower subscription revenue as reduced traffic led to fewer subscribers. It has also identified increased use of free and paid generative AI services as a factor reducing website traffic and subscriptions. Chegg Skilling revenue fell 6% to $16.442 million from $17.583 million. Chegg's GAAP net loss narrowed to $4.690 million, or 4 cents per share, from $17.471 million, or 16 cents per share, a year earlier. The non-GAAP net loss was $5.734 million, or 5 cents per share. Adjusted EBITDA, a measure of earnings with specified adjustments, declined to $5.435 million from $13.254 million. The company had $43.604 million in cash, cash equivalents and investments at Sept. 30, with no convertible senior notes outstanding. For the quarter ending Dec. 31, Chegg forecast gross margin of 46% to 48% and adjusted EBITDA of about $1 million, alongside its revenue outlook. Chegg launched its Internships.com employability platform in September. By Nov. 3, it had attracted more than 100,000 visitors and signed pilot programs with College of Charleston, Salem College and Radford University. Executive Chairman and CEO Dan Rosensweig said, "AI hit our business hard." John Kim. John Kim reports on the digital-asset business for TokenPost. Send corrections or tips to [email protected].

Chegg announces University partnerships to expand student access to internships and career support. Chegg partners with the College of Charleston, Radford University, and Salem College to expand student access to its internship and career platform, with discussions underway with additional U.S. institutions. Chegg, a learning and employability company, announced pilot partnerships with the College of Charleston's School of Business, Radford University, and Salem College to help students discover, prepare, and secure internships. During the six-month pilots, Chegg will work directly with participating institutions to give eligible, currently enrolled students access to its Internships.com platform. The platform brings together internship discovery, application creation and submission, interview preparation, skills development and professional networking, helping students navigate every step of the internship process in one place. Students can explore opportunities across sectors including finance, consulting, law and policy, AI and engineering, and healthcare, with internships available throughout the United States. The partnerships announced today represent an initial step in Chegg's efforts to strengthen its relationships with colleges and universities and help students make the transition from education to employment. Chegg is also in active discussions with several other U.S. institutions about additional pilot partnerships. According to a 2026 study by the National Association of Colleges and Employers (NACE), students who completed paid internships reported stronger employment outcomes, with 55% of those who applied for a job receiving at least one offer. Yet finding relevant internship opportunities and navigating the application process can be challenging and time-consuming, particularly for students balancing their studies with work and other commitments. "Internships can open the door to a student's future career, but finding and securing the right opportunity isn't always easy," said Alex Young, General Manager of Chegg. "We've built our platform with students at its heart, helping to remove barriers and simplify the process. By partnering with colleges and universities, we can help more students discover the right opportunities, develop the skills they need and take meaningful steps from learning to earning." "Higher education has a vital role to play in helping students translate their academic experience into successful careers," said Stuart Mease, Center for Career and Talent Development at Radford University. "But navigating the path from the classroom to employment can be challenging, particularly when students are trying to identify the right opportunities, demonstrate their skills and stand out to employers. This pilot with Chegg gives us an opportunity to help our students build their confidence and take practical steps toward securing internships that can shape their futures." Designed to complement existing campus career services, the pilots combine Chegg's technology with institutional outreach and on-campus engagement to help students discover and make use of the platform. Participating institutions will introduce Internships.com to eligible students through their institutional communication channels and collaborate with Chegg on agreed campus activities. These may include orientation and welcome-week events, student-organization activities, and academic-success or advising programming. Throughout the pilots, Chegg and each participating institution will meet regularly to gather feedback, assess student engagement and identify ways to improve the experience. These insights will help inform Chegg's approach to future higher education partnerships and further enhancements to the platform. [To share your insights with us, please write to [email protected]]