Chegg wipes out debt with $33.9M note repayment
Chegg, Inc. (CHGG) reported that on September 1, 2026 it repaid at maturity the remaining $33.9 million aggregate principal amount of its 0% convertible senior notes due September 1, 2026.
Rhea-AI Filing Summary
Chegg, Inc. (CHGG) reported that on September 1, 2026 it repaid at maturity the remaining $33.9 million aggregate principal amount of its 0% convertible senior notes due September 1, 2026. With this repayment, the 2026 Notes are fully retired and Chegg states that it now has no outstanding debt.
Chegg highlighted this debt-free balance sheet as a milestone in strengthening its financial position, citing cost reductions and improved cash flow. As of June 30, 2026, Chegg held $72 million in cash, cash equivalents, and investments; on a pro forma basis after the repayment, this would have been approximately $38 million.
Positive
- Chegg fully repaid its remaining $33.9 million 0% convertible senior notes, leaving the company with no outstanding debt.
- Management emphasizes a debt-free balance sheet and notes actions to reduce costs and improve cash flow, supporting a stronger financial position.
Negative
- None.
8-K Event Classification
2 items: 8.01, 9.01
2 items
Item 8.01
Other Events
Other
Voluntary disclosure of events the company deems important to shareholders but not covered by other items.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Key Figures
Remaining 2026 Notes repaid: $33.9 million aggregate principal amount
Interest rate on 2026 Notes: 0%
Cash, cash equivalents, and investments: $72 million
+1 more
4 metrics
Remaining 2026 Notes repaid
$33.9 million aggregate principal amount
0% convertible senior notes due September 1, 2026, repaid at maturity
Interest rate on 2026 Notes
0%
Convertible senior notes due September 1, 2026
Cash, cash equivalents, and investments
$72 million
Balance as of June 30, 2026, before giving effect to repayment
Pro forma cash, cash equivalents, and investments
$38 million
As if repayment of the 2026 Notes had occurred as of June 30, 2026
Key Terms
0% convertible senior notes, aggregate principal amount, debt-free balance sheet, pro forma effect, +1 more
5 terms
0% convertible senior notes financial
"the remaining $33.9 million aggregate principal amount of its 0% convertible senior notes"
0% convertible senior notes are a type of loan a company borrows that doesn't pay interest upfront. Instead, the company promises to pay back the amount later, and these notes can be turned into shares of the company's stock if certain conditions are met. They matter because they help companies raise money without immediate interest costs, while giving investors a chance to own part of the company later.
aggregate principal amount financial
"the remaining $33.9 million aggregate principal amount of its 0% convertible"
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.
debt-free balance sheet financial
"“Achieving a debt-free balance sheet is an important milestone for Chegg"
A debt-free balance sheet means a company has no interest-bearing borrowings recorded on its balance sheet—no bank loans, bonds, or similar liabilities. Investors care because it changes the company’s cash obligations, risk profile and financial flexibility: like owning a house with no mortgage, the firm has fewer fixed payments and more freedom to use cash for operations, investment or returns, which can affect valuations and perceived stability.
pro forma effect financial
"After giving pro forma effect to the repayment of the 2026 Notes"
cash, cash equivalents, and investments financial
"As of June 30, 2026, Chegg had $72 million in cash, cash equivalents, and investments"
FAQ
What did Chegg (CHGG) announce in its September 1, 2026 Form 8-K?
Chegg announced that it repaid at maturity the remaining $33.9 million aggregate principal amount of its 0% convertible senior notes due September 1, 2026, fully retiring the 2026 Notes and resulting in Chegg having no outstanding debt.
How much of Chegg’s 2026 convertible notes were repaid and at what rate?
Chegg repaid the remaining $33.9 million aggregate principal amount of its 0% convertible senior notes due September 1, 2026. The notes carried a 0% interest rate and are now fully retired.
What is Chegg’s debt position after repaying the 2026 Notes?
After repaying the remaining $33.9 million of its 0% convertible senior notes due 2026, Chegg states that it has no outstanding debt, resulting in a debt-free balance sheet.
What were Chegg’s cash, cash equivalents, and investments around the time of the repayment?
As of June 30, 2026, Chegg had $72 million in cash, cash equivalents, and investments. On a pro forma basis, after giving effect to the repayment of the 2026 Notes, this amount would have been approximately $38 million.
How does Chegg describe the significance of becoming debt-free?
Chegg’s CFO, David Longo, described achieving a debt-free balance sheet as an important milestone that reflects progress in strengthening the company’s financial position and providing financial flexibility to execute its strategy and pursue long-term value creation.
AI-generated analysis. How Rhea-AI works. Not financial advice.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported): September 1, 2026
(Exact name of registrant as specified in its charter)
| (State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) | ||||||||||||
| (Address of principal executive offices) | (Zip Code) | ||||||||||
(408 ) 855-5700
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 8.01 Other Events.
On September 1, 2026, Chegg, Inc. (“Chegg”) 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. A copy of the press release is attached as Exhibit 99.01 to this Current Report on Form 8-K.
The information contained in this Item 8.01, including the press release attached as Exhibit 99.01 to this Current Report on Form 8-K, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section or Sections 11 and 12(a)(2) of the Securities Act of 1933, as amended. The information contained in this Item 8.01 and in the accompanying Exhibit 99.01 shall not be incorporated by reference into any registration statement or other document filed by Chegg with the Securities and Exchange Commission (“SEC”), whether made before or after the date of this Current Report on Form 8-K, regardless of any general incorporation language in such filing, except as shall be expressly set forth by specific reference in such filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
| Exhibit No. | Description | |||||||
99.01 | Press release issued by Chegg, Inc., dated September 1, 2026 | |||||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |||||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| CHEGG, INC. | |||||
By: /s/ David Longo | |||||
| Name: David Longo | |||||
| Title: Chief Financial Officer and Corporate Secretary | |||||
Date: September 1, 2026
EXHIBIT 99.01
Chegg Announces Full Repayment of Convertible Notes
SAN FRANCISCO — September 1, 2026 — 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.
Investor Contact: Tracey Ford, IR@chegg.com
Media Contact: press@chegg.com