Chegg repays $33.9M in convertible notes, becomes debt-free

Chegg, Inc. (NYSE: CHGG) has repaid $33.9 million in aggregate principal on its 0% convertible senior notes that matured on September 1, 2026, leaving the company with no outstanding debt, according to a press release.

The retired notes were originally due September 1, 2026. With the repayment complete, Chegg said it carries no remaining debt obligations.

As of June 30, 2026, Chegg held $72 million in cash, cash equivalents, and investments. After accounting for the repayment, that figure would have stood at approximately $38 million on a pro forma basis.

David Longo, Chief Financial Officer of Chegg, said the company has "taken meaningful actions to reduce costs and improve cash flow," adding that the debt-free position provides "financial flexibility to execute on our strategy and create long-term value for our shareholders."

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