Chegg Stock Drops After Q4 Report Shows Major YoY Revenue Decline - Chegg (NYSE:CHGG)

Core Insights - Chegg Inc. reported a quarterly loss of one cent per share, outperforming the consensus estimate of a loss of ten cents [2] - Quarterly revenue was $72.66 million, exceeding the Street estimate of $71 million, but down from $143.48 million in the same period last year [2] Financial Highlights - Chegg Skilling revenues reached $17.7 million, marking an 11% year-over-year increase [4] - Non-GAAP gross margin stood at 60% [4] - Non-GAAP net loss was $700,000 [4] - Adjusted EBITDA was reported at $12.9 million [4] Strategic Direction - The company is focusing on the $40 billion skilling market, which is expected to drive double-digit growth with strong margins and cash flow in the future, according to CEO Dan Rosensweig [3] - Chegg has reorganized into two main business segments: Chegg Skilling as the growth engine and legacy Academic Services, which generates free cash flow to strengthen the balance sheet [4]