Chegg, Inc. filed its Form 10-Q for the quarterly period ended September 30, 2026 with the Securities and Exchange Commission on November 3, 2026, reporting a continued decline in net revenues and an accumulated deficit crossing $1 billion.

Key Highlights

  • Net revenues fell to $46,468 thousand for the three months ended September 30, 2026, compared to $77,742 thousand in the same period of 2025, according to the filing.
  • Gross profit was $24,239 thousand for Q3 2026, down from $46,041 thousand in Q3 2025, as disclosed in the condensed consolidated statements of operations.
  • Loss from operations was $5,102 thousand for the three months ended September 30, 2026, compared to a loss of $17,124 thousand in the prior-year quarter.
  • Accumulated deficit reached $1,000,275 thousand as of September 30, 2026, up from $992,862 thousand at December 31, 2025.
  • Total assets declined to $188,033 thousand at September 30, 2026, from $278,014 thousand at December 31, 2025.
  • 111,169,557 shares of common stock were outstanding as of October 27, 2026, per the cover page of the filing.
  • Nine-month net revenues were $161,579 thousand for the period ended September 30, 2026, compared to $304,249 thousand for the same period in 2025.

Chegg Reports Sharply Lower Revenue and Shrinking Balance Sheet for Q3 2026

According to the filing, Chegg, Inc. (NYSE:CHGG) reported net revenues of $46,468 thousand for the three months ended September 30, 2026, a significant decrease from $77,742 thousand in the comparable prior-year period. For the nine months ended September 30, 2026, the company disclosed net revenues of $161,579 thousand, down from $304,249 thousand for the nine months ended September 30, 2025. Cost of revenues for the third quarter was $22,229 thousand, leaving a gross profit of $24,239 thousand.

The filing shows total operating expenses of $29,341 thousand for Q3 2026, compared to $63,165 thousand in Q3 2025, resulting in a loss from operations of $5,102 thousand for the quarter. For the nine-month period, the loss from operations was $9,314 thousand, compared to $82,584 thousand in the prior-year nine-month period. The company reported interest expense, net of $15 thousand and other income, net of $704 thousand for the three months ended September 30, 2026.

On the balance sheet, the registrant reported total assets of $188,033 thousand as of September 30, 2026, down from $278,014 thousand at December 31, 2025. Cash and cash equivalents stood at $28,847 thousand, and short-term investments were $14,757 thousand, compared to $31,146 thousand and $41,674 thousand, respectively, at year-end 2025. Total liabilities decreased to $72,442 thousand from $158,391 thousand, partly reflecting the absence of a current portion of convertible senior notes, which had been $53,765 thousand at December 31, 2025. Total stockholders' equity was $115,591 thousand at September 30, 2026. The filing notes that the company's forward-looking statements are subject to risks and uncertainties described in its cautionary language and are the company's own projections.

What Was Disclosed

Chegg filed its quarterly report for the period ended September 30, 2026, disclosing declining revenues, a widening accumulated deficit exceeding $1 billion, reduced total assets, and an operating loss for both the three- and nine-month periods compared to 2025.