SAN FRANCISCO--(BUSINESS WIRE)--
Chegg, Inc. (NYSE: CHGG), a global learning and workforce skilling company, today announced that it has repaid, at maturity, the remaining $33.9 million aggregate principal amount of its 0% convertible senior notes due on September 1, 2026 (the "2026 Notes").With this repayment, the 2026 Notes have been fully retired, and Chegg has no outstanding debt.
“Achieving a debt-free balance sheet is an important milestone for Chegg and reflects the significant progress we have made in strengthening our financial position,” said David Longo, Chief Financial Officer of Chegg. “We have taken meaningful actions to reduce costs and improve cash flow. With no debt and a stronger financial foundation, we have the financial flexibility to execute on our strategy and create long-term value for our shareholders.”
As of June 30, 2026, Chegg had $72 million in cash, cash equivalents, and investments.After giving pro forma effect to the repayment of the 2026 Notes, cash, cash equivalents, and investments would have been approximately $38 million.
About Chegg
Chegg is a learning and employability platform that helps students and lifelong learners build the skills, confidence, and career readiness to succeed from learning to earning, while helping businesses develop and upskill their workforce. Through AI-powered, personalized experiences, Chegg supports learners across academics, workplace readiness, professional upskilling, and language learning. By combining proprietary data, AI, and deep insight into how students learn and build their careers, Chegg remains committed to improving employability and creating better outcomes for learners and employers. Chegg is a publicly held company and trades on the NYSE under the symbol CHGG. For more information, visit www.chegg.com.
Convertible senior notes are a type of loan that a company issues to investors, which can be turned into company shares later on. They are called "senior" because they are paid back before other debts if the company runs into trouble. This allows investors to earn interest like a loan but also have the chance to own part of the company if its value rises.
aggregate principal amountfinancial
The aggregate principal amount is the total amount of money borrowed through a bond or loan that the borrower promises to repay. It’s like the original price tag on a loan or bond, showing how much money is involved in the deal. This number matters because it indicates the size of the debt and helps investors understand the scale of the borrowing.
pro formafinancial
Pro forma refers to financial information that is prepared based on estimates or adjustments to show what a company's results might look like under certain scenarios, such as new projects or acquisitions. It helps investors understand the potential impact of future events by providing a clear, hypothetical view of financial performance, much like a weather forecast shows possible future conditions.
