Chegg Inc., the leading student-first connected learning platform, has reported its financial results for the second quarter ending June 30, 2025. The company recorded total net revenues of $105.1 million, marking a 36% decrease compared to the same quarter the previous year. Subscription Services revenues were reported at $89.7 million, showing a 39% decline year-over-year. Chegg's net loss for the quarter amounted to $35.7 million, while the non-GAAP net income was $10.8 million. The adjusted EBITDA for the quarter stood at $23.1 million. Despite a challenging quarter, Chegg exceeded its initial guidance, achieving a gross margin of 66% and a non-GAAP gross margin of 68%. The company also reported a decrease in subscription services subscribers by 40% year-over-year, totaling 2.6 million. Looking ahead, Chegg has provided guidance for the third quarter of 2025, expecting subscription services revenues to range between $67 million and $69 million, with a gross margin anticipated between 56% and 57%. The adjusted EBITDA is forecasted to be in the range of $7 million to $8 million. CEO and President Nathan Schultz emphasized the company's strategic focus on transforming Chegg Study into a Personalized Learning Assistant utilizing AI, and highlighted the revenue growth in Busuu. Chegg remains committed to its restructuring efforts, aiming to reduce non-GAAP expenses significantly in the coming years.