EXHIBIT 99.01 Chegg Reports 2024 Third Quarter Earnings SANTA CLARA, Calif., November 12, 2024 /BUSINESS WIRE/ -- Chegg, Inc. (NYSE:CHGG), the leading student-first connected learning platform, today reported financial results for the three months ended September 30, 2024. "While the global education industry continues to experience tremendous change, in Q3, we showed early progress against our strategic plan and delivered better-than-expected revenue and adjusted EBITDA. However, recent technology shifts a ...

The upcoming report from Chegg (CHGG) is expected to reveal quarterly earnings of $0.07 per share, indicating a decline of 61.1% compared to the year-ago period. Analysts forecast revenues of $133.78 million, representing a decrease of 15.3% year over year.The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.Ahead of a company's earnings disclosure, it is c ...

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Investors in Chegg, Inc. (CHGG) need to pay close attention to the stock based on moves in the options market lately. That is because the Oct 18, 2024 $11.00 Call had some of the highest implied volatility of all equity options today. What is Implied Volatility? Implied volatility shows how much movement the market is expecting in the future. Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the other. It could also me ...

J Studios Investment overview I wrote about Chegg Inc. (NYSE:CHGG) previously (14th May 2024) with a hold rating as I wanted to see evidence that CHGG is able to grow its subscribers and that growth can inflect upwards. I remain hold-rated for CHGG as there are still no major signs of improvement that convince me that growth can accelerate from here. 2Q24 earnings (announced on 5th August) It was a very disappointing set of 2Q24 results. Total revenue saw $163.1 million, which was an acceleration in y/y dec ...

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Chegg (NYSE:CHGG) stock is falling hard on Tuesday after the direct-to-student learning platform company released its latest earnings report. In the second quarter of 2024, Chegg released an updated guidance for the third quarter of the year. This has it expecting revenue for the quarter to range from $133 million to $135 million. Investors aren't happy about that when comparing it to Wall Street's estimate of $143.05 million. Here's what Chegg Chief Financial Officer David Longo said about this guidance. " ...

ATLANTA, Aug. 06, 2024 (GLOBE NEWSWIRE) -- Holzer & Holzer, LLC is investigating whether Chegg, Inc. ("Chegg" or the "Company") (NYSE: CHGG) complied with federal securities laws. On August 5, 2024, Chegg reported financial results for the three months ended June 30, 2024, and announced the Company was taking "$481.5 million of non-cash impairment charges." Following this news, the price of the Company's stock dropped. If you purchased Chegg stock and suffered a loss on that investment, you are encouraged t ...

Financial Data and Key Metrics Changes - In Q2 2024, the company reported revenue of $146.8 million and adjusted EBITDA of $44.1 million, exceeding guidance [7][15] - Total revenue for the quarter was $163 million, down 11% year-over-year, with Subscription Services revenue at $147 million [16] - Adjusted EBITDA margin for Q2 was 27%, above guidance due to better-than-expected revenue and ongoing expense management [17] - Free cash flow was negative $3.6 million, impacted by restructuring severance payments and increased net working capital [18] Business Line Data and Key Metrics Changes - The company had 4.4 million subscribers in Q2, with 25% from international markets [16] - Subscription Services ARPU decreased by 3% year-over-year, primarily due to international promotional pricing [16] - Skills and other revenue was $16 million, a decrease of 4% year-over-year [16] Market Data and Key Metrics Changes - The company noted strong monthly retention for Chegg Study and Study Pack, which increased by 23 basis points year-over-year [16] - The number of questions asked by students increased by 74% year-over-year, with 16.2 million questions asked in H1 2024, representing a 109% year-over-year increase [7] Company Strategy and Development Direction - The company is undergoing a significant restructuring to create a leaner organization, aiming for non-GAAP expense savings of $40 million to $50 million by 2025 [6] - A new product vision aims to evolve Chegg from a solutions-based platform to one that supports the whole student with comprehensive academic support [6] - The company plans to launch a marketing campaign targeting platforms like TikTok and Instagram to increase brand awareness and reach [10] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism regarding the fall enrollment cycle, noting the need for more data in September and October to assess trends [21] - The company is focused on extending its brand reach and improving conversion rates among current students [21] - Management acknowledged industry pressures and the challenges of the changing landscape, emphasizing the need for steady execution of their growth plan [19] Other Important Information - The company is launching a fully localized experience in Mexico by the end of September, which will serve as a model for future localization efforts [13] - A partnership with Max, a leading streaming service, will enhance the value of Chegg subscriptions [14] Q&A Session Summary Question: How is the company feeling about the fall enrollment cycle? - Management indicated that they are using external resources to assess the fall cycle and noted that enrollment expectations appear flat [21] Question: Can you provide color on the Q3 guidance assumptions? - Management stated that Q3 guidance reflects retention rates and subscriber enrollments based on visibility from the first half of the year [24] Question: Have there been improvements in the top of the funnel with conversational features? - Management noted that while conversational features are engaging 70% of subscribers, they are not expected to drive top-of-funnel growth immediately [27] Question: Can you elaborate on the Q3 EBITDA margin guidance? - Management explained that Q3 is typically a challenging quarter due to fixed costs and that restructuring benefits will materialize more in the following year [31] Question: How is the restructuring influencing the workforce and international strategy? - Management emphasized the importance of retaining top talent and applying technology to enhance educational outcomes both domestically and internationally [44] Question: How is the AI platform influencing competitive positioning? - Management highlighted that the focus is on applying AI to enhance education rather than merely competing with other players [46] Question: What is the outlook for international ARPU? - Management indicated that international ARPU will remain lower due to pricing strategies but can still be profitable with improved product-market fit [48]

Q2-24 Investor Presentation August 5, 2024 Chegg Safe Harbor Statement Forward-Looking Statements This presentation contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statem ...