What is Chegg's operating margin?

Chegg (CHGG) reported operating margin of -27.9% in Q1 2026.

How has Chegg's operating margin changed year-over-year?

Chegg's operating margin increased by 79.4% year-over-year, from -135.2% to -27.9%.

What is the long-term trend for Chegg's operating margin?

Over 4 years (2020 to 2025), Chegg's operating margin has grown at a 37.0% compound annual growth rate (CAGR), from 8.8% to -31%.

What does operating margin mean?

Operating income as a percentage of revenue (trailing twelve months). Captures profitability from core operations after both cost of revenue and operating expenses, but before interest and taxes.

Chegg CHGG Operating margin

Operating margin at other companies

GHC

Graham HoldingsGHC

4.9%+0.2pp

IMM

Immersion CorporationIMMR

1.1%-9.2pp

Grand Canyon EducationLOPE

24.3%-2.3pp

DuolingoDUOL

14.2%+5.6pp

Barnes & Noble EducationBNED

-0.3%-0.1pp

CourseraCOUR

-11.4%-1.7pp

Other financials

Income statement

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Revenue$63.3M-47.9%

Gross profit$37.9M-43.8%

Operating income-$1.0M+96.4%

Net income$228.0K+101%

EPS (diluted)$0.00+100%

Balance sheet

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Cash & equivalents$35.2M-25.3%

Total debt$17.9M-19.5%

Total equity$121.1M-34.8%

Total assets$244.1M-44.4%

Cash flow

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Operating cash flow$4.1M-83.3%

CapEx$1.0M-88.0%

Free cash flow$3.1M-80.7%

Valuation

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Market cap$113.08M-15.8%

Enterprise value$95.86M-18.1%

P/S0.4×+0.1×

Profitability

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Gross margin61.2%-5.4pp

Net margin-26.9%-12.1pp

FCF margin7.9%-11.0pp

Returns & leverage

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Return on equity-55.9%-21.5pp

Debt / equity0.1×0.0×

Current ratio1×-0.2×

Where this comes from

Calculated from Chegg’s reported figures.

operating income/total revenue=-27.9%

Based on trailing twelve months.

The official record: Chegg’s 10-Q, filed May 11, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Chegg's operating margin?: Chegg (CHGG) reported operating margin of -27.9% in Q1 2026.
How has Chegg's operating margin changed year-over-year?: Chegg's operating margin increased by 79.4% year-over-year, from -135.2% to -27.9%.
What is the long-term trend for Chegg's operating margin?: Over 4 years (2020 to 2025), Chegg's operating margin has grown at a 37.0% compound annual growth rate (CAGR), from 8.8% to -31%.
What does operating margin mean?: Operating income as a percentage of revenue (trailing twelve months). Captures profitability from core operations after both cost of revenue and operating expenses, but before interest and taxes.