Chegg Beats Q2 Estimates and Unveils AI‑Powered Employability Platform

Chegg reported second‑quarter 2026 results that topped analyst expectations, posting earnings per share of $0.02 versus the forecast $0.05 and revenue of $51.8 million, ahead of the $49.5 million estimate. Adjusted EBITDA reached $9.1 million, a 17% margin, and free cash flow was $6.4 million after $1.5 million in severance costs. The company highlighted a major cost‑reduction drive, cutting non‑GAAP operating expenses by roughly half year‑over‑year and slashing capital expenditures, with a target to reduce capex 60% for the full‑year 2026.

CEO Dan Rosensweig said Chegg is shifting to an “AI‑first” strategy and will soft‑launch an AI‑driven employability platform in Q3, integrating job‑matching, application automation, interview coaching and alumni networking. More than 10,000 students have tested the beta. The firm also provided Q3 guidance of $43‑44 million revenue and $1‑2 million adjusted EBITDA, reflecting seasonal weakness and the transition to the new platform.