Financial Performance - Total revenue for Q2 2025 was $105 million, a 36% year-over-year decrease[54] - Subscription Services revenue for Q2 2025 was $90 million, a 39% year-over-year decrease[65] - Chegg Study/Pack revenue decreased 44% year-over-year[14] - Adjusted EBITDA for Q2 2025 was $23 million[56] - Free cash flow for Q2 2025 was negative $12 million, impacted by severance payments[57] - Capital expenditures for Q2 2025 were $7 million, a 60% year-over-year decrease[61] Subscribers and Retention - Global Chegg Study/Pack subscribers decreased by 48% year-over-year[14] - Global Subscription Services subscribers decreased by 40% year-over-year[14] - Chegg Study/Pack monthly retention rate globally was 79.7%[14] Strategic Initiatives - The company is exploring strategic alternatives, including being acquired, undertaking a go-private transaction, or remaining as a public standalone company[12] - The company identified an additional $17 million in cost savings for 2026[11] - The company expects total non-GAAP expense savings in 2026 to be $110-120 million[11]