Welcome to our dedicated page for CHEGG news (Ticker: CHGG), a resource for investors and traders seeking the latest updates and insights on CHEGG stock.
Chegg, Inc. (symbol: CHGG) is a leading student-first connected learning platform dedicated to making higher education more affordable and accessible, while enhancing student outcomes. Founded in Santa Clara, CA, Chegg operates globally with offices across major cities like San Francisco, New York, Portland, and international locations including India, Israel, Berlin, and Ukraine.
Chegg’s comprehensive student hub offers an array of services aimed at supporting learners throughout their academic journey and beyond. Key offerings include Chegg Study, tutoring, writing tools, math help, test preparation, career search, internship admissions, and college admissions.
The company's services are categorized into two main segments: Subscription Services and Skills and Other. Subscription Services feature the Chegg Study Pack, Chegg Study, Chegg Writing, Chegg Math, and Busuu, which can be accessed globally through Chegg’s websites and mobile apps. Skills and Other include products like skills development, advertising services, print textbooks, and eTextbooks.
Chegg is committed to enhancing the educational experience through technology, maintaining a user-centric approach, and constantly evolving its offerings to meet the changing needs of students. The company has received recognition as a certified great place to work, reflecting its positive workplace culture and dedication to employee satisfaction.
Recent developments highlight Chegg’s significant progress. For example, the company’s strategic appointments, like Etay Geller as VP of Product, have been instrumental in advancing core products such as Chegg Study and expanding its mobile app capabilities.
Chegg continues to be a vital resource for students worldwide, providing essential tools and support for academic and career success. For more information, visit Chegg Careers.
Chegg (NYSE:CHGG) reported Q3 2024 financial results with total net revenues of $136.6 million, down 13% year-over-year. Subscription Services revenues decreased 14% to $119.8 million, with subscriber count falling 13% to 3.8 million. The company posted a net loss of $212.6 million, while achieving non-GAAP net income of $9.8 million and adjusted EBITDA of $22.3 million. The Board approved a $300 million increase to its securities repurchase program. For Q4 2024, Chegg projects revenues between $141-143 million and adjusted EBITDA of $32-34 million.
Busuu, a Chegg service and language learning provider with over 120 million registered users, has launched Busuu Conversations, a new AI-powered feature designed to help language learners practice speaking confidently. The feature offers:
- AI-simulated exchanges mimicking everyday scenarios
- Real-time feedback on performance
- 24/7 help with AI and prompts for sentence composition
- A safe space for making mistakes with personalized feedback
Initially available for English and Spanish learners across all 16 Busuu interface languages, Busuu Conversations aims to address common challenges such as fear of making mistakes and lack of practice partners. The feature is integrated into Busuu's Complete English and Spanish Courses, providing a comprehensive learning experience covering listening, reading, writing, and speaking skills.
Chegg, Inc. (NYSE:CHGG), a leading student-first connected learning platform, has announced the granting of equity awards to a new employee. On October 12, 2024, the company's Compensation Committee awarded restricted stock units (RSUs) representing 50,000 shares of Chegg common stock to one newly hired employee. This grant was made under the Chegg 2023 Equity Inducement Plan, relying on the employment inducement award exception to New York Stock Exchange Listing Rule 303A.08.
The RSUs are set to fully vest on October 12, 2025, contingent upon the employee's continuous service through the vesting date. This equity grant serves as an inducement for new talent joining Chegg and aligns with the company's compensation strategy.
Chegg, Inc. (NYSE: CHGG), a leading student-first online learning platform, has announced it will release its third quarter 2024 financial results on Tuesday, November 12, 2024, after market close. The company will host a conference call to discuss the results at 1:30 p.m. Pacific Time (4:30 p.m. Eastern Time) on the same day.
Investors can access the call by dialing 1-877-407-4018 (U.S.) or +1-201-689-8471 (outside U.S.). A live webcast will be available at https://investor.chegg.com. An audio replay will be accessible from 7:30 p.m. Eastern Time on November 12 until 11:59 p.m. Eastern Time on November 19, 2024, by calling 1-844-512-2921 (U.S.) or +1-412-317-6671 (outside U.S.) with Access ID 13749504.
Chegg, a leading student-first online learning platform, has announced changes to its board of directors. Sarah Bond, president of Xbox, and Dr. Paul LeBlanc, former president of Southern New Hampshire University, are departing the board. Bond joined in 2020, while LeBlanc began his service in 2019. LeBlanc will continue to serve as an academic advisor for Chegg.
Dan Rosensweig, Executive Chairman and Co-Chairperson of the Chegg Board, expressed gratitude for their contributions. With these changes, Chegg's Board of Directors now consists of nine members, with seven being independent according to NYSE and SEC standards.
Chegg (NYSE:CHGG), a leading student-first connected learning platform, has granted equity awards to four newly hired employees. The awards, totaling 124,129 shares of Chegg common stock in the form of restricted stock units (RSUs), were granted on September 12, 2024, under the Chegg 2023 Equity Inducement Plan. The grants rely on the employment inducement award exception to NYSE Listing Rule 303A.08.
The RSUs have varying vesting schedules: two employees' RSUs fully vest after 12 months of continuous service, one employee's RSUs vest 50% after 12 months and the remainder quarterly over 12 months, and another employee's RSUs vest 33% after 12 months and the remainder quarterly over 24 months.
Chegg (NYSE:CHGG), a leading student-first connected learning platform, has announced the granting of equity awards to 11 newly hired employees on August 12, 2024. These awards, made under the Chegg 2023 Equity Inducement Plan, consist of restricted stock units (RSUs) representing a total of 72,435 shares of Chegg common stock. The grants were made in accordance with the employment inducement award exception to NYSE Listing Rule 303A.08.
The vesting schedule for these RSUs is as follows: one-third of the shares will vest after 12 months of continuous service, with the remaining shares vesting in equal quarterly installments over the subsequent 24 months. This vesting structure is designed to encourage employee retention and align new hires' interests with those of Chegg's shareholders.
Chegg (NYSE:CHGG) reported its Q2 2024 financial results, showing a total net revenue of $163.1 million, an 11% decline year-over-year. Subscription services revenue was $146.8 million, also an 11% decrease. The company posted a net loss of $616.9 million, while non-GAAP net income was $26.5 million. Adjusted EBITDA stood at $44.1 million. Subscriber count dipped 9% to 4.4 million.
Chegg highlighted its transformation, completing its restructure and introducing new conversational instruction and automated solutions before the back-to-school season. The company aims to evolve from a solutions-based platform to providing 360-degree student support.
Guidance for Q3 2024 includes expected net revenues between $133 million to $135 million, subscription revenue between $116 million to $118 million, gross margins of 67%-68%, and adjusted EBITDA of $19 million to $21 million.
Chegg (NYSE: CHGG) has partnered with Max to offer the Max with Ads plan to qualifying U.S. Chegg Study or Chegg Study Pack subscribers. This collaboration expands Chegg's Perks program, providing students access to Max's extensive content library, including exclusive original series, blockbuster movies, and popular TV shows from brands like HBO, Warner Bros., and DC Universe.
The partnership aims to offer additional value and savings to students while introducing them to Max's entertainment offerings. Chegg Study Pack, a monthly subscription service, provides 24/7 learning support and now includes access to perks from various platforms, including Tinder Gold™, DoorDash DashPass Student™, Calm Premium, and the newly added Max with Ads plan.
Chegg (NYSE:CHGG), a leading student-first connected learning platform, has announced new equity grants for two recently hired employees. The company's Compensation Committee awarded a total of 15,030 restricted stock units (RSUs) on July 12, 2024, under the Chegg 2023 Equity Inducement Plan. This action was taken in accordance with the employment inducement award exception to NYSE Listing Rule 303A.08.
The RSUs have different vesting schedules for the two employees:
- One employee received 4,530 RSUs, with one-third vesting after 12 months and the remainder vesting quarterly over 24 months.
- The other employee received 10,500 RSUs, with half vesting after 12 months and the remainder vesting quarterly over 12 months.
These equity grants are designed to attract and retain talent at Chegg, aligning employee interests with the company's long-term success.
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