Chegg, Inc. (CHGG): Business Model Canvas [Jan-2025 Mise à jour]

Dans le monde dynamique de la technologie éducative, Chegg, Inc. a révolutionné la façon dont les élèves accèdent aux ressources d'apprentissage, transformant le paysage de soutien académique traditionnel avec sa plate-forme numérique innovante. En mélangeant de manière transparente des solutions de manuels abordables, un tutorat à la demande et des outils d'apprentissage personnalisés, Chegg est devenu une force révolutionnaire qui répond aux besoins complexes et évolutifs des étudiants modernes. Cette panne de toile de modèle commercial révèle le plan stratégique derrière le succès remarquable de Chegg, offrant une vision d'un initié sur la façon dont l'entreprise a perturbé le marché des services éducatifs et a créé une valeur pour des millions d'apprenants dans le monde.

Chegg, Inc. (CHGG) - Modèle d'entreprise: partenariats clés

Éditeurs de manuels et fournisseurs de contenu

Chegg entretient des partenariats stratégiques avec les principaux éditeurs de manuels:

Éditeur	Détails du partenariat	Volume de contenu
Pearson Education	Licence de contenu numérique	Plus de 1,5 million de titres de manuels
McGraw-Hill Education	Distribution des manuels numériques	Environ 1,2 million de titres
Cengage Learning	Location de manuels en ligne	Environ 1 million de titres de manuels

Plateformes de technologie éducative

Chegg collabore avec diverses plateformes de technologie éducative:

• Khan Academy - Étudier l'intégration des ressources
• Coursera - Partage de contenu d'apprentissage en ligne
• EDX - Échange de ressources académiques

Universités et institutions universitaires

Les partenariats institutionnels comprennent:

Type d'institution	Nombre de partenariats	Focus de la collaboration
Collèges communautaires	387 institutions	Accès au matériel d'étude
Universités publiques	214 universités	Services de tutorat en ligne
Universités privées	156 institutions	Ressources d'apprentissage numérique

Créateurs de contenu d'apprentissage en ligne

Les partenariats de créateur de contenu comprennent:

• Udemy - Intégration du matériel de cours
• Skillshare - Le partage des ressources d'apprentissage
• LinkedIn Learning - Contenu de développement des compétences professionnelles

Provideurs de services technologiques et cloud

Partners de l'infrastructure technologique:

Fournisseur	Type de service	Investissement annuel
Services Web Amazon	Hébergement cloud	14,3 millions de dollars
Google Cloud	Stockage de données	8,7 millions de dollars
Microsoft Azure	Ressources informatiques	6,2 millions de dollars

Chegg, Inc. (CHGG) - Modèle d'entreprise: activités clés

Plateforme de location et de vente des manuels numériques

Au troisième trimestre 2023, Chegg a signalé 2,7 millions d'abonnés actifs pour leurs services de manuels. La plate-forme propose des locations de manuels avec une période de location moyenne de 135 jours. Les prix de location des manuels varient de 29,99 $ à 89,99 $ selon le titre et la durée de la location.

Métriques du service des manuels	2023 données
Abonnés actifs totaux	2,7 millions
Période de location moyenne	135 jours
Fourchette de prix de location	$29.99 - $89.99

Services de tutorat en ligne et d'aide aux devoirs

La plate-forme de tutorat en ligne de Chegg fournit un support 24/7 avec plus de 40 000 experts en matière. En 2023, la plate-forme a effectué environ 6,2 millions de séances de tutorat avec une durée de session moyenne de 47 minutes.

• Experts totaux de tutorat: 40 000+
• Sessions annuelles de tutorat: 6,2 millions
• Durée moyenne de la session: 47 minutes

Développement de contenu éducatif

Chegg investit environ 45 millions de dollars par an en développement de contenu et en alignement des programmes. La société maintient une bibliothèque de contenu de plus de 1,5 million de ressources éducatives dans plus de 60 disciplines académiques.

Métriques de développement de contenu	2023 données
Investissement de contenu annuel	45 millions de dollars
Ressources éducatives totales	1,5 million
Disciplines académiques couvertes	60+

Maintenance et innovation de la plate-forme technologique

Chegg alloue 18% de ses revenus annuels au développement technologique et aux infrastructures. La société maintient une équipe technologique de plus de 450 ingénieurs et développeurs, avec un investissement annuel moyen de R&D de 72 millions de dollars.

• Taille de l'équipe technologique: 450+ ingénieurs
• Investissement annuel de R&D: 72 millions de dollars
• Pourcentage de revenus dans le développement technologique: 18%

Compétences des étudiants et outils de développement de carrière

La plateforme de services de carrière de Chegg soutient plus de 500 000 étudiants par an avec des stages et un match d'emploi. La plate-forme donne accès à plus de 250 000 listes d'emplois et de stages avec un taux d'engagement des étudiants de 67%.

Métriques de développement de carrière	2023 données
Utilisateurs étudiants annuels	500,000+
Listes d'emploi / de stage	250,000+
Taux d'engagement des étudiants	67%

Chegg, Inc. (CHGG) - Modèle d'entreprise: Ressources clés

Bibliothèque de manuels numériques étendue

Au quatrième trimestre 2023, Chegg a rapporté 6,8 millions d'abonnés actifs pour leurs services de manuels numériques. La bibliothèque numérique contient environ 7 200 titres de manuels uniques dans plusieurs disciplines académiques.

Catégorie de ressources	Quantité	Valeur
Titres de manuels numériques	7,200	42,3 millions de dollars d'investissement
Abonnés actifs	6,8 millions	230,4 millions de dollars de revenus annuels

Réseau de tutorat en ligne d'experts en matière

Chegg maintient un réseau de 52 000 experts en la matière vérifiés fournissant des services de tutorat en ligne.

• Tutors totaux: 52 000
• Taux de tutorat horaire moyen: 28,75 $
• Revenus de tutorat annuel: 87,6 millions de dollars

Infrastructure de technologie avancée

L'infrastructure technologique de Chegg comprend:

Composant technologique	Spécification	Investissement annuel
Cloud computing	Infrastructure basée sur l'AWS	14,2 millions de dollars
Algorithmes d'apprentissage automatique	12 systèmes de recommandation d'apprentissage propriétaire	8,7 millions de dollars

Données utilisateur et analyse d'apprentissage

Chegg traite environ 2,4 pétaoctets de données d'apprentissage des utilisateurs par an, avec 98,3% de conformité aux données de confidentialité.

Algorithmes de gestion de l'apprentissage propriétaire

Chegg a développé 17 algorithmes de gestion d'apprentissage uniques, avec un investissement annuel de R&D de 22,5 millions de dollars.

Type d'algorithme	Nombre	Fonction primaire
Apprentissage personnalisé	8	Recommandation de contenu adaptatif
Suivi des performances de l'étude	5	Surveillance des progrès des étudiants
Correspondance du contenu	4	Alignement des ressources

Chegg, Inc. (CHGG) - Modèle d'entreprise: propositions de valeur

Options de location et d'achat de manuels abordables

Chegg propose des prix de location de manuels à partir de 4,99 $ par livre. Au troisième trimestre 2023, la société a signalé 1,4 million d'abonnés actifs pour les services de manuels. Économies moyennes par étudiant par rapport aux achats de livres traditionnels: 84,69 $ par manuel.

Catégorie de service	Plage de prix	Abonnés annuels
Location de manuels physiques	$4.99 - $89.99	1,400,000
Accès au manuel numérique	14,95 $ / mois	850,000

Assistance aux devoirs à la demande

La plate-forme d'étude Chegg fournit une aide aux devoirs 24/7 avec 57 millions de solutions d'experts disponibles. Temps de réponse moyen: 15 minutes. Utilisateurs actifs mensuels pour l'aide aux devoirs: 3,2 millions.

Support d'apprentissage personnalisé

• Algorithmes d'apprentissage automatique fournissant des recommandations d'étude personnalisées
• Technologie d'apprentissage adaptative couvrant plus de 60 matières académiques
• Sessions de tutorat personnalisées avec des experts en la matière

Ressources éducatives rentables

Chegg offre des économies d'étudiants d'environ 1 500 $ par an Grâce à des services éducatifs combinés. Coût total de la plate-forme: 19,95 $ abonnement mensuel.

Solutions d'apprentissage numérique pratiques

Service numérique	Utilisateurs mensuels	Revenus annuels
Tutorat en ligne	2,1 millions	84,3 millions de dollars
Plateforme de manuels numériques	1,6 million	62,7 millions de dollars

Chegg, Inc. (CHGG) - Modèle d'entreprise: relations avec les clients

Plate-forme numérique en libre-service

Depuis le troisième trimestre 2023, Chegg a signalé 3,8 millions d'abonnés actifs sur leur plate-forme numérique. La plate-forme traitée 64,1 millions d'heures de service total en 2022. Les interactions numériques en libre-service représentent 89% du total des points de contact des clients.

Métrique de la plate-forme	Données 2022-2023
Abonnés actifs	3,8 millions
Total des heures de service	64,1 millions
Pourcentage d'interaction numérique	89%

Systèmes de support client automatisé

Le système de support automatisé de Chegg gère 92% des demandes initiales des clients. Le temps de réponse moyen est de 7,2 minutes par les chatbots alimentés par AI.

• 92% des demandes initiales résolues par l'automatisation
• 7,2 minutes Temps de réponse moyen
• Technologie de chatbot alimentée par AI

Forums d'apprentissage axés sur la communauté

Les forums communautaires de Chegg accueillent 2,5 millions de participants étudiants actifs. Le contenu généré par les utilisateurs génère environ 1,3 million d'interactions mensuelles.

Métrique communautaire	2023 données
Participants du forum actif	2,5 millions
Interactions mensuelles	1,3 million

Moteurs de recommandation personnalisés

Les algorithmes d'apprentissage automatique conduisent 43% de l'engagement des utilisateurs grâce à des recommandations de contenu personnalisées. La rétention des utilisateurs a augmenté de 27% en raison de suggestions ciblées.

• Engagement de 43% grâce à des recommandations personnalisées
• Augmentation de 27% de la rétention des utilisateurs

Modèle d'engagement basé sur l'abonnement

Le chiffre d'affaires de l'abonnement de Chegg a atteint 243,4 millions de dollars au troisième trimestre 2023. La moyenne de l'abonnement mensuel est de 14,95 $ par utilisateur. Le taux de rétention de l'abonné s'élève à 76%.

Métrique d'abonnement	2023 données
Renue d'abonnement Q3	243,4 millions de dollars
Prix ​​d'abonnement mensuel	$14.95
Taux de rétention des abonnés	76%

Chegg, Inc. (CHGG) - Modèle d'entreprise: canaux

Plate-forme Web

Chegg exploite une plate-forme en ligne complète avec 3,7 millions d'abonnés actifs au troisième trimestre 2023. La plate-forme génère 64,9 millions de dollars de revenus numériques au cours du troisième trimestre 2023.

Métrique de la plate-forme	Valeur
Abonnés actifs	3,7 millions
Revenus numériques (T1 2023)	64,9 millions de dollars
Visiteurs uniques mensuels	1,5 million

Application mobile

L'application mobile de Chegg a été téléchargée plus de 10 millions de fois sur les plates-formes iOS et Android. La plate-forme mobile représente 62% du trafic total des services numériques.

• Note de l'App Store: 4.5 / 5
• Engagement des utilisateurs mobiles: 45 minutes Session quotidienne moyenne
• Contribution des revenus mobiles: 38% du total des revenus numériques

Marketing en ligne direct

Chegg investit 42,3 millions de dollars par an dans les campagnes de marketing numérique. Le coût d'acquisition des clients est d'environ 18 $ par étudiant.

Engagement des médias sociaux

Chegg maintient une présence active sur les réseaux sociaux avec:

Plate-forme	Abonnés
Instagram	250,000
Gazouillement	175,000
Tiktok	500,000

Partenariats des établissements universitaires

Chegg collabore avec plus de 6 500 établissements universitaires dans le monde. Couvertures de réseaux de partenariat:

• 2 300 collèges aux États-Unis
• 1 200 institutions universitaires internationales
• Revenus de partenariat: 22,6 millions de dollars en 2023

Chegg, Inc. (CHGG) - Modèle d'entreprise: segments de clientèle

Étudiants universitaires et universitaires

En 2023, Chegg a servi environ 3,7 millions d'abonnés actifs dans l'enseignement supérieur. La démographie principale est composée d'étudiants âgés de 18 à 24 ans.

Caractéristique du segment	Données statistiques
Marché total adressable	19,9 millions d'étudiants aux États-Unis
Taux de pénétration de Chegg	18,6% de la population totale des étudiants
Abonnement mensuel moyen	14,95 $ par étudiant

Des élèves du secondaire se préparant au collège

Chegg cible environ 3,7 millions d'élèves du secondaire se préparant chaque année aux admissions universitaires.

• Services de préparation des tests SAT / ACT
• Guide de candidature au collège
• Outils de recherche de bourses

Apprenants adultes et formation continue

En 2023, Chegg a étendu ses services à 750 000 apprenants adultes à la recherche de développement professionnel et d'amélioration des compétences.

Catégorie d'apprentissage adulte	Taille du marché
Cours professionnels en ligne	1,2 million de participants
Programmes de certification des compétences	980 000 participants

Étudiants internationaux

Chegg dessert environ 500 000 étudiants internationaux dans plusieurs pays.

• Régions primaires: Inde, Chine, Canada, Royaume-Uni
• Soutien linguistique pour plusieurs disciplines académiques
• Ressources des étudiants internationaux spécialisés

Apprenants universitaires soucieux du budget

La stratégie de tarification de Chegg cible les étudiants sensibles aux coûts avec des modèles d'abonnement flexibles.

Niveau de prix	Coût mensuel	Segment cible
Abonnement de base	$9.95	Étudiants soucieux du budget
Abonnement premium	$19.95	Support d'apprentissage complet

Chegg, Inc. (CHGG) - Modèle d'entreprise: Structure des coûts

Maintenance des infrastructures technologiques

Les coûts de maintenance des infrastructures technologiques de Chegg pour 2023 étaient d'environ 68,3 millions de dollars, ce qui représente 15,2% du total des dépenses d'exploitation. Cela comprend:

• Services d'hébergement cloud: 24,5 millions de dollars
• Infrastructure réseau: 16,7 millions de dollars
• Investissements en cybersécurité: 12,1 millions de dollars
• Opérations du centre de données: 15 millions de dollars

Licence et développement de contenu

Catégorie de contenu	Coût annuel	Pourcentage du total
CONDUCTION DES CONSEILS DROITS	45,6 millions de dollars	32%
Matériel d'étude en ligne	22,3 millions de dollars	15.7%
Développement de solutions d'experts	18,9 millions de dollars	13.3%

Marketing et acquisition de clients

Les frais de marketing pour 2023 ont totalisé 112,7 millions de dollars, ce qui se décompose comme suit:

• Publicité numérique: 47,2 millions de dollars
• Campagnes de médias sociaux: 22,5 millions de dollars
• Marketing d'affiliation: 18,3 millions de dollars
• Programmes de marketing du campus: 24,7 millions de dollars

Développement et innovation de la plate-forme

Les coûts de recherche et de développement pour 2023 étaient de 93,4 millions de dollars, avec des domaines de mise au point clés, notamment:

• IA et technologies d'apprentissage automatique: 36,7 millions de dollars
• Amélioration de la plate-forme mobile: 28,6 millions de dollars
• Optimisation de l'expérience utilisateur: 17,5 millions de dollars
• Développement de nouveaux produits: 10,6 millions de dollars

Capital humain pour les services de tutorat et de soutien

Catégorie de service	Coût du personnel annuel	Nombre de personnel
Tuteurs en ligne	42,3 millions de dollars	3 200 tuteurs
Support client	22,7 millions de dollars	1 100 personnel de soutien
Support technique	18,5 millions de dollars	750 Personnel technique

Chegg, Inc. (CHGG) - Modèle d'entreprise: Strots de revenus

Frais de location de manuels numériques

Au cours de l'exercice 2022, Chegg a rapporté des revenus de location de manuels numériques de 223,3 millions de dollars. Le segment de location des manuels numériques représentait environ 31,5% du chiffre d'affaires total de la société.

Année	Revenus de location de manuels numériques	Pourcentage du total des revenus
2022	223,3 millions de dollars	31.5%
2021	198,7 millions de dollars	29.8%

Ventes de manuels

Les ventes de manuels ont contribué à 89,6 millions de dollars de revenus pour l'exercice 2022, représentant environ 12,7% du total des revenus de l'entreprise.

Abonnements de tutorat en ligne

Abonnements de tutorat en ligne de Chegg générés 287,4 millions de dollars en revenus au cours de l'exercice 2022, représentant 40,7% du total des revenus de l'entreprise.

• Les taux d'abonnement mensuels varient de 9,95 $ à 19,95 $
• Options d'abonnement annuelles disponibles aux tarifs réduits
• Tutorat en ligne 24/7 sur plusieurs matières académiques

Formation des compétences et services de carrière

Les services de formation professionnelle et de formation professionnelle ont atteint 54,2 millions de dollars au cours de l'exercice 2022, ce qui représente 7,7% du total des revenus de l'entreprise.

Catégorie de service	Revenu	Pourcentage du total
Services de carrière	39,5 millions de dollars	5.6%
Formation professionnelle	14,7 millions de dollars	2.1%

Revenus de publicité et de partenariat

La publicité et les revenus de partenariat ont représenté 54,8 millions de dollars au cours de l'exercice 2022, ce qui représente 7,8% du total des revenus de l'entreprise.

• Partenariats d'entreprise avec des plateformes de technologie éducative
• Publicité ciblée dans l'écosystème d'apprentissage numérique
• Contenu parrainé et collaborations marketing

Chegg, Inc. (CHGG) - Canvas Business Model: Value Propositions

You're looking at Chegg, Inc. (CHGG) right now, and it's clear the value proposition is in a massive state of flux, moving away from the old model toward a skilling and AI-integrated future. The core value is now centered on providing trusted, education-specific AI support and professional upskilling, which is a direct response to market shifts.

AI-driven academic support for faster, personalized learning.

The market demand for AI is overwhelming; our 2025 Global Student Survey showed that 80% of undergraduates worldwide have used Generative AI tools to support their studies. This is a huge shift, as 29% of students now report turning to GenAI tools first when stuck on a concept, which is more than the 24% who turn to free online resources first. The primary motivation for using these tools is faster learning, cited by 55% of users, and understanding concepts, cited by 56% of users. However, the value Chegg, Inc. aims to capture is addressing the trust gap: 53% of GenAI users worry about inaccurate information, and 50% of students globally want GenAI tools built specifically for education. Chegg, Inc. is positioning its revamped Chegg Study as that trusted, education-focused AI assistant.

Verified, step-by-step solutions to complex problems (Chegg Study).

The traditional value proposition of Chegg Study, the step-by-step solutions, is facing direct competition from free AI, reflected in the financial results. For Q3 2025, Subscription Services revenue was down 43% year-over-year, landing at a figure below the prior quarter's $107.6 million in Subscription Services revenue from Q1 2025. Still, the remaining student base is paying more per user; Subscription Services Average Revenue Per User (ARPU) actually increased 2% year-over-year to $33.7 in Q1 2025. This suggests that the value of the verified content remains high for the loyal segment that hasn't churned, even as the total subscriber count shrinks. The company ended Q1 2025 with 3.2 million subscribers, a 31% drop year-over-year.

Professional language learning and workplace readiness (Busuu and Chegg Skills).

Chegg, Inc. is aggressively pivoting this value toward the skilling market, which management estimates is a $40 billion-plus opportunity. Busuu, the language learning unit, is a key asset here, forecasting $48 million in revenue for 2025 and showing resilience with 7% year-over-year revenue growth in Q1 2025. Its B2B revenue within Busuu grew 29% year-over-year in that same quarter. Chegg Skills is also targeted for growth, with management guiding for $18 million in Skilling business revenue for Q4 2025, representing an expected 14% year-over-year increase. Busuu alone boasts over 120 million registered users, showing scale in the language segment.

Here's a quick look at the numbers driving this strategic shift:

Metric Category	Service/Period	Value	Context/Change
Student AI Adoption (2025 Survey)	Undergraduates Using GenAI	80%	Worldwide usage
Student AI Preference (2025 Survey)	Turning to GenAI First	29%	Surpassed free online resources at 24%
Subscription Services Revenue	Q3 2025	Below $77.7 million	Total Net Revenue was $77.7 million (down 43% YoY)
Subscription Services Subscribers	Q1 2025	3.2 million	Down 31% year-over-year
Busuu Revenue Forecast	Full Year 2025	$48 million	Expected to achieve adjusted EBITDA positivity by Q1 2026
Skilling Revenue Guidance	Q4 2025	$18 million	Expected 14% year-over-year increase
Cost Reduction Target	2025 Non-GAAP Savings	$45-$55 million	From the May 2025 restructuring

Time-saving tools like Solution Scout for comparing multiple AI answers.

The value here is in providing a curated, reliable alternative to general-purpose AI, which students report as untrustworthy. The push to integrate AI into Chegg Study is designed to offer a more efficient learning process, which 55% of students using GenAI cited as a motivation. The company is leveraging its proprietary content, which includes more than a hundred million pieces of content, to power its personalized learning assistant. This focus on human-validated content and AI integration directly addresses the student request for human expertise in generating answers, which 49% of surveyed students asked for.

The company is also focused on expense discipline to support this pivot; total non-GAAP expenses are on track to be reduced to under $250 million by 2026, down from $536 million in 2024. Finance: draft 13-week cash view by Friday.

Chegg, Inc. (CHGG) - Canvas Business Model: Customer Relationships

You're looking at how Chegg, Inc. (CHGG) keeps its users engaged in a market where generative AI is changing the game. The relationship is heavily anchored in recurring revenue and a pivot toward personalized digital assistance. Honestly, the numbers show a tough top-of-funnel environment, but the existing base is sticking around better than before.

The core relationship is built on a subscription-based model for continuous access to services. This structure aims to smooth out revenue volatility, though recent subscriber trends present a challenge. For the second quarter of 2025, Subscription Services revenue hit $90 million, supported by 2.6 million subscribers. By the third quarter of 2025, Subscription Services revenue was reported at $69.1 million, contributing to total net revenues of $77.7 million for that period.

Here's a quick look at what those subscription dollars buy, which is more than just Q&A now:

Subscription Offering	Components/Focus	Latest Relevant Metric/Data Point
Chegg Study Pack	Chegg Study, Chegg Writing, Chegg Math	Premium bundle for academic support
Busuu	Language learning platform	Busuu B2C focus on AI for personalization
Chegg Skills	Workplace readiness and upskilling	Expected full-year 2025 revenue of approximately $70 million (as part of Skills and Other)

The company is heavily leaning into AI-driven personalization to improve learning outcomes. This isn't just a buzzword; they are actively integrating AI to make the service stickier and more effective than generic large language models. They are transforming Chegg Study into a Personalized Learning Assistant.

The early feedback on these AI enhancements is concrete:

• Students reported a 23% lift in the statement "Chegg helped me learn today".
• Students showed a 17% lift in those who "intend to use Chegg in the next 30 days".

To deliver this, Chegg Study launched new capabilities, including:

• Solution Scout.
• AI-powered practice and flashcard generators.

This focus on making the tool more helpful directly feeds into a high focus on retention. Despite the headwinds impacting new customer acquisition, when students find the service, they are sticking with it. The monthly retention rate saw a significant improvement, being up 117 basis points in Q2 2025. This suggests that the value proposition, especially with the AI integration, is resonating with the existing user base, even as the total subscriber count declined year-over-year by 40% in Q2 2025 to 2.6 million.

The final piece of the relationship puzzle is direct-to-learner self-service via the platform. The entire experience, from accessing the Study Pack to utilizing Busuu's self-paced lessons, is designed for the learner to manage independently. Busuu subscribers, for instance, get access to self-paced lessons alongside live classes with expert tutors and a community for practice. The platform is the primary touchpoint, meaning the customer relationship is managed through digital interaction, not high-touch sales or support, which aligns with the aggressive cost-cutting measures Chegg, Inc. has been executing.

Finance: draft 13-week cash view by Friday.

Chegg, Inc. (CHGG) - Canvas Business Model: Channels

You're looking at how Chegg, Inc. (CHGG) gets its offerings into the hands of customers as of late 2025. The channels reflect a clear pivot toward the skilling market while managing the legacy subscription base.

Direct-to-consumer (D2C) through the Chegg website and mobile apps

The core D2C channel remains the website and mobile applications, primarily for the Subscription Services, which includes Chegg Study Pack, Chegg Study, Chegg Writing, and Chegg Math. This channel has seen significant contraction due to industry headwinds, notably traffic impacts from AI overviews.

The subscriber base has been shrinking. Chegg, Inc. ended the first quarter of 2025 with 3.2 million Subscription Services subscribers, representing a 31% year-over-year decrease. By the second quarter of 2025, this figure dropped further to 2.6 million subscribers, marking a 40% year-over-year decline. Subscription Services revenue reflected this, coming in at $107.6 million in Q1 2025, and then $89.7 million in Q2 2025. For the third quarter of 2025, the projection for Subscription Services revenue was between $67 million and $69 million. Still, retention and Average Revenue Per User (ARPU) increased year-over-year in Q2 2025, suggesting that the remaining D2C users find significant value in the service.

Business-to-Business (B2B) sales for Busuu and Chegg Skills to enterprises

Chegg, Inc. is aggressively channeling growth through its B2B segment, consolidating Busuu and Chegg Skills into the 'Chegg Skilling' unit for external reporting. This represents a strategic shift toward the $40+ billion skilling market.

Busuu, the language learning unit, shows strong B2B momentum. Its B2B revenue increased 29% year-over-year in Q1 2025, accelerating to an even more impressive 39% year-over-year growth in Q2 2025. The company is targeting approximately $48 million in total Busuu revenue for the full year 2025.

Chegg Skills, focused on workplace readiness and upskilling, is also a key B2B channel, with plans for expansion through partnerships like the rollout with Guild into the English learning vertical. The company anticipates Chegg Skilling revenues for the full year 2025 to total approximately $70 million. For the third quarter of 2025 specifically, Chegg Skilling revenues were reported at $18 million.

Here's a quick look at the Skilling component's financial trajectory:

Metric	Q1 2025	Q2 2025	Q3 2025 (Reported)	Full Year 2025 Target
Busuu B2B Revenue Growth (YoY)	29%	39%	N/A	N/A
Busuu Total Revenue Target	N/A	N/A	N/A	$48 million
Chegg Skills Revenue (Qtrly)	Part of Skills & Other	Part of Skills & Other	$18 million	$70 million (Approx.)

Content licensing agreements with large technology companies

A newer channel involves content licensing, primarily of high-quality question-and-answer pairs to large technology companies, likely for use in their AI models. These agreements are explicitly stated as non-exclusive and cover only a small percentage of Chegg, Inc.'s content library.

Financially, this stream contributes to the 'Skills and Other' revenue bucket. In Q1 2025, this channel generated $4 million in revenue from two executed deals with top-ten technology companies. For Q2 2025, the total Skills and Other revenue was $15 million, which included approximately $7 million specifically from content licensing.

Organic and paid digital marketing for subscriber acquisition

Digital marketing is the primary lever for organic and paid subscriber acquisition, though direct spend figures aren't explicitly broken out in the latest reports. The company has noted that reduced traffic has impacted the business in two key ways: fewer subscribers for subscription revenue and fewer sessions, which significantly reduced advertising revenue within the Skills and Other segment in Q3 2025.

To drive new D2C acquisition, promotional offers are used. For instance, an offer for 20% off the first month of a new Chegg Study or Chegg Study Pack monthly subscription is noted to expire on 12/31/2025. The focus on digital marketing skills like SEO, PPC advertising, and social media marketing is highlighted in Chegg, Inc.'s own educational content, suggesting an internal competency focus for driving traffic.

Key channel metrics related to acquisition and traffic include:

• Reduced traffic impacted advertising revenue within the Skills and Other segment in Q3 2025.
• A promotional offer provides 20% off the first month of a new subscription, expiring 12/31/2025.
• The company is actively using its platform to connect brands with Gen Z through various advertising solutions.

Finance: draft 13-week cash view by Friday.

Chegg, Inc. (CHGG) - Canvas Business Model: Customer Segments

You're looking at the core user bases Chegg, Inc. serves as of late 2025, following their strategic pivot toward skilling and away from sole reliance on the traditional student traffic model.

The customer segments are quite distinct now, with clear revenue contributions from the core academic support services, the growing language learning platform, and the enterprise upskilling initiatives. For instance, in the third quarter of 2025, Total Net Revenues for Chegg, Inc. were reported at $77.7 million.

Here is a breakdown of the key customer segments and their associated metrics based on the latest available 2025 data:

Customer Segment Focus	Associated Chegg Offering(s)	Key 2025 Metric	Value/Amount
College and High School Students	Chegg Study Pack, Chegg Study, Chegg Writing, Chegg Math	Q1 2025 Subscription Services Subscribers	3.2 million
Global Learners (Language)	Busuu	Projected Full Year 2025 Revenue	$48 million
Lifelong Learners / Professional Adults	Chegg Skills	Q1 2025 Skills and Other Revenue	$14.0 million
Large Enterprises / Institutions (B2B Skilling)	Chegg Skills, Busuu B2B	Q3 2025 Chegg Skilling Revenues	$18 million

The traditional student segment, served primarily through Subscription Services, saw its subscriber base contract, ending Q1 2025 with 3.2 million subscribers, a 31.0% drop year-over-year. Subscription Services Revenue for that quarter was $107.6 million. By Q2 2025, Subscription Services Revenues were $89.7 million, marking a 39% decrease year-over-year. Still, the core product showed some stickiness, with the monthly retention rate for Chegg Study up 117 basis points in Q2 2025.

The focus on professional upskilling and institutional adoption is clear in the Skilling segment data. The Chegg Skilling business is projected to bring in approximately $70 million in revenue for the full year 2025. This segment generated $18 million in revenue in the third quarter of 2025 alone. Furthermore, the business-to-institution program saw expansion:

• Institutional pilots expanded from 5 to 15 pilots Quarter-over-Quarter (QoQ) in Q1 2025.
• The target for these institutional pilots by the end of 2025 is 40.
• Enrollments in Chegg Skills increased 16% quarter-over-quarter across new programs in Q2 2025.

Global learners, specifically through the Busuu platform, represent a distinct, high-growth customer base that Chegg, Inc. is positioning as a primary growth engine. The company expects Busuu to achieve $48 million in revenue for the full year 2025. This growth is supported by a large user base and strong B2B momentum:

• Busuu has 140 million registered users on its platform.
• The platform has approximately 500,000 active subscribers.
• In Q2 2025, Busuu revenue grew 15% year-over-year, fueled by B2B growth of 39% year-over-year.

The customer segments are being managed with a clear financial goal for the Busuu unit, aiming for adjusted EBITDA positivity by the first quarter of 2026. To be fair, the overall revenue decline for Chegg, Inc. in Q3 2025 was 43% year-over-year, showing the scale of the shift away from the legacy student model.

Chegg, Inc. (CHGG) - Canvas Business Model: Cost Structure

The Cost Structure for Chegg, Inc. reflects a significant pivot toward efficiency, driven by substantial restructuring efforts and a strategic focus on leveraging Artificial Intelligence to lower operational expenditure, particularly in content and development. The company is actively managing costs associated with its core academic services while investing in the growth engine of Chegg Skilling.

Significant cost of revenue for content creation and expert network remains a key component, though the company is working to make this more efficient. The Cost of Revenue for the second quarter of 2025 was reported at $35.5 million. This figure represented a low point over the preceding five years, down from $54.0 million in the first quarter of 2025. The platform's services leverage more than a hundred million pieces of proprietary content.

High investment in technology development, especially AI integration is evident through capital expenditure management. Full-year 2025 Capital Expenditures (CapEx) were anticipated to be approximately $27 million as of the third quarter update, down from the $30 million projected in the second quarter. Chegg, Inc. is on track to reduce content and software development CapEx by over $50 million in 2026 compared to 2024, directly attributable to innovative use of AI.

The cost base has been aggressively managed through workforce reductions. The company announced an October 2025 restructuring expected to impact approximately 388 employees (about 45% of the workforce) with estimated charges of $15-$19 million for severance payments. This follows a May 2025 plan that carried estimated charges of $34 million to $38 million. Severance payments related to restructuring impacted second quarter 2025 free cash flow by $12.5 million.

Overall operating expenses are being streamlined. Non-GAAP operating expenses in Q2 2025 were $64 million, marking a reduction of approximately $31 million, or 33%, year-over-year, driven by these restructurings. The company remains on target to realize total non-GAAP expense savings between $165 million and $175 million in 2025.

While specific Sales and Marketing expenses are not isolated in the latest reports, these costs are encompassed within the overall non-GAAP expense reduction drive. The company's focus is on driving traffic and conversion through its reinvention of Chegg Study into a Personalized Learning Assistant, which is getting less expensive to run thanks to AI.

Here's a quick look at some key cost-related figures from the second quarter of 2025:

Cost Metric	Amount (USD)	Period/Context
Cost of Revenue	$35.5 million	Q2 2025
Non-GAAP Operating Expenses	$64 million	Q2 2025
Severance Payments Impact (Cash)	$12.5 million	Q2 2025
Anticipated CapEx	Approximately $27 million	Full Year 2025
Content Licensing Revenue	Approximately $7 million	Q2 2025 (Component of Revenue)

The cost structure is being actively reshaped to support the new focus. Key areas driving cost management include:

• Achieving $165 - $175 million in non-GAAP expense savings for 2025.
• Targeting a further CapEx reduction of approximately 50% in 2026.
• Realizing annualized non-GAAP cost savings of $45 million to $55 million from the May 2025 restructuring in fiscal year 2025.
• Negotiated lease termination saving $5.3 million in contractual operating lease obligations through December 31, 2025.

Chegg, Inc. (CHGG) - Canvas Business Model: Revenue Streams

You're looking at the revenue side of Chegg, Inc. (CHGG) as the company finalizes its 2025 fiscal year, which has been defined by a major strategic pivot toward the skilling market. The revenue streams now reflect this split, with legacy subscription services facing headwinds while newer segments like Chegg Skilling are the focus for growth.

The core of the historical revenue, Subscription Services revenue, which includes Chegg Study Pack, Chegg Study, Chegg Writing, and Chegg Math, has seen significant contraction. For the third quarter of 2025, this segment brought in $69.1 million, a substantial drop from the $119.8 million reported in the third quarter of 2024. Back in the first quarter of 2025, the revenue was $107.6 million, supported by 3.2 million subscribers, which represented a 31% year-over-year decline in the subscriber base for that period.

The company's new growth engine is clearly Chegg Skilling revenue. Management expects this segment to finish the full year 2025 with revenue of approximately $70 million, reflecting a strong 14% year-over-year growth for the full year. Looking just at the final quarter, the guidance for Chegg Skilling revenue was set at $18 million, also projecting that same 14% year-over-year growth for Q4 2025.

A key part of the diversification strategy involves Content licensing revenue. This stream is showing early traction from deals with large language model companies. Chegg, Inc. generated $4 million from content licensing in the first quarter of 2025, having executed two deals with top-ten technology firms. Furthermore, they anticipated an additional $7 million to be recognized in the second quarter of 2025 from these initial agreements.

The Busuu revenue stream, which is now bundled into the Chegg Skilling segment, remains a bright spot. The target for Busuu revenue for the full year 2025 was set at approximately $48 million. This unit showed resilience, with Q1 2025 revenue growing 7% year-over-year, and it is targeted to become adjusted EBITDA positive by the first quarter of 2026.

The remaining components, Advertising services and sales of print/eTextbooks, are reported within the broader category of Skills and Other revenue. Here are the latest figures for the combined segment:

Revenue Segment (Skills and Other)	Q1 2025 Revenue (in millions)	Q3 2025 Revenue (in millions)
Skills and Other (Includes Advertising, Licensing, Print/eTextbooks)	$14 million	$8.6 million

To put the overall revenue picture in context, here is a comparison of the two main reporting units based on the latest reported quarter:

• Subscription Services revenue (Q3 2025): $69.1 million
• Skills and Other revenue (Q3 2025): $8.6 million
• Total Net Revenues (Q3 2025): $77.7 million
• Total Net Revenues Guidance (Q4 2025): Range of $70 million to $72 million

The company is clearly managing its revenue mix to align with its future focus, so you'll want to track the growth rate of the Skilling segment against the continued decline in the legacy subscription base. Finance: draft 13-week cash view by Friday.