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EXHIBIT 99.01 Chegg Chegg Reports Second Quarter 2021 Financial Results and Raises Full Year Guidance Total Revenue Increased 30 % Year - Over - Year SANTA CLARA , Calif . , August 9 , 2021 / BUSINESS WIRE / -- Chegg , Inc. ( NYSE : CHGG ) , today reported financial results for the three months ended June 30 , 2021 . " It is clear , wherever students are learning , whether online , in the classroom , or in a hybrid model , the value of Chegg is unquestionable , ” said Dan Rosensweig , CEO & President of Chegg , Inc. , " Chegg had a great Q2 with total revenue growth of 30 % , driven by 38 % growth in Chegg Services revenue with Chegg Services subscribers growing to 4.9 million in the quarter . Our international growth also continues to be strong , and we are confident we will exceed our initial expectation of over one million international subscribers for the year . " Q2 2021 Highlights : • Total Net Revenues of $ 198.5 million , an increase of 30 % year - over - year Chegg Services Revenues grew 38 % year - over - year to $ 173.5 million , or 87 % of total net revenues , compared to 82 % in Q2 2020 • Net Income was $ 32.8 million • • . Non - GAAP Net Income was $ 71.7 million Adjusted EBITDA was $ 84.4 million 4.9 million : number of Chegg Services subscribers , an increase of 31 % year - over - year • 367 million : total Chegg Study content views Total net revenues include revenues from Chegg Services and Required Materials . Chegg Services primarily includes Chegg Study , Chegg Writing , Chegg Math Solver , Chegg Study Pack , Mathway , and Thinkful . Required Materials includes print textbooks and eTextbooks . For more information about non - GAAP net income and adjusted EBITDA , and a reconciliation of non - GAAP net income to net income ( loss ) , and adjusted EBITDA to net income ( loss ) , see the sections of this press release titled “ Use of Non - GAAP Measures , " " Reconciliation of Net Income ( Loss ) to EBITDA and Adjusted EBITDA , " and " Reconciliation of GAAP to Non - GAAP Financial Measures . " Business Outlook : Third Quarter 2021 • Total Net Revenues in the range of $ 170 million to $ 175 million • • Chegg Services Revenues in the range of $ 142 million to $ 147 million Gross Margin between 60 % and 61 % • Adjusted EBITDA in the range of $ 43 million to $ 45 million Full Year 2021 • Total Net Revenues in the range of $ 805 million to $ 815 million • Chegg Services Revenues in the range of $ 690 million to $ 700 million Gross Margin between 68 % and 69 % • Adjusted EBITDA in the range of $ 295 million to $ 300 million For more information about the use of forward - looking non - GAAP measures , a reconciliation of forward - looking net ( loss ) income to EBITDA and adjusted EBITDA for the third quarter 2021 and full year 2021 , see the below sections of the press