Chegg (CHGG) reported second-quarter 2026 total net revenue of $51.8 million, down 51% year over year, for the quarter ended June 30, 2026. The company posted a net loss of $3.0 million and adjusted EBITDA of $9.1 million.
Chegg said it is expanding its focus on employability and plans to soft launch the next generation of its service in the third quarter across Chegg and Internships.com. For the third quarter of 2026, the company guided for total revenue of $43 million to $44 million.
- Total net revenue was $51.8 million in Q2 2026, compared with $105.1 million a year earlier.
- Chegg Skilling revenue was $17.5 million, up 2% year over year.
- Gross margin was 55%, while non-GAAP gross margin was 57%.
- Net loss was $3.0 million, or $0.03 per share basic and diluted.
- Adjusted EBITDA was $9.1 million, representing a 17% margin.
- Chegg ended the quarter with $72.3 million in cash and investments and a net cash position of $38.5 million.
- Q3 2026 guidance includes total revenue of $43 million to $44 million, gross margin of 48% to 49%, and adjusted EBITDA of $1 million to $2 million.
$CHGG Insider Trading Activity
$CHGG insiders have traded $CHGG stock on the open market 3 times in the past 6 months. Of those trades, 1 have been purchases and 2 have been sales.
Here’s a breakdown of recent trading of $CHGG stock by insiders over the last 6 months:
- DANIEL ROSENSWEIG (PRESIDENT, CEO, EXEC CHAIRMAN) has made 1 purchase buying 100,000 shares for an estimated $56,360 and 2 sales selling 8,293 shares for an estimated $9,205.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API insider transaction endpoint.
$CHGG Hedge Fund Activity
We have seen 35 institutional investors add shares of $CHGG stock to their portfolio, and 49 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- MACKENZIE FINANCIAL CORP removed 1,186,294 shares (-100.0%) from their portfolio in Q1 2026, for an estimated $879,399
- ARROWSTREET CAPITAL, LIMITED PARTNERSHIP removed 1,169,860 shares (-42.3%) from their portfolio in Q1 2026, for an estimated $867,217
- JACOBS LEVY EQUITY MANAGEMENT, INC removed 729,593 shares (-60.8%) from their portfolio in Q1 2026, for an estimated $540,847
- CHARLES SCHWAB INVESTMENT MANAGEMENT INC removed 687,637 shares (-14.2%) from their portfolio in Q1 2026, for an estimated $509,745
- METEORA CAPITAL, LLC added 596,000 shares (+134.3%) to their portfolio in Q1 2026, for an estimated $441,814
- DEUTSCHE BANK AG\ removed 541,832 shares (-100.0%) from their portfolio in Q1 2026, for an estimated $401,660
- DIMENSIONAL FUND ADVISORS LP removed 529,697 shares (-60.0%) from their portfolio in Q1 2026, for an estimated $392,664
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.
