---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-039809"
form_type: "8-K"
ticker: null
cik: "0001804591"
company_name: "Chrome Holding Co."
filed_at: "2023-08-08T23:59:59+00:00"
generated_at: "2026-06-12T02:33:56.289329+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# 23andMe reports Q1 revenue down 6% to $61M, net loss widens; cuts 71 jobs (47% of Therapeutics); CTO retires

## Summary
- Q1 FY2024 revenue $61M (down 6% YoY); net loss $105M vs $90M; Adj EBITDA deficit $50M (flat).
- Workforce reduction of 71 employees (~11% total, 47% of Therapeutics) to save ~$15.5M annually; charges ~$3.8M.
- CTO Dr. Kenneth Hillan retired Aug 8; will assist transition until Feb 8, 2024.
- Cash $314M (down from $387M at Mar 31). FY2024 guidance: rev $255-275M; net loss $325-345M; Adj EBITDA deficit $160-180M.

## SEC filing metadata
- accession: 0000950170-23-039809
- form_type: 8-K
- cik: 0001804591
- company_name: Chrome Holding Co.
- filed_at: 2023-08-08T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 2.05, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1804591/000095017023039809/0000950170-23-039809-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1804591/000095017023039809/me-20230808.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-039809
- JSON: https://secwatch.observer/filing/0000950170-23-039809.json
- Plain text: https://secwatch.observer/filing/0000950170-23-039809.txt

## Key facts
- Earnings Releases
  Chrome Holding Co. reported the first quarter (Q1) of fiscal year 2024 (FY2024), which ended June 30, 2023 results: revenue $61 million, net income $105 million (Net loss). Guidance raised.
  - Period: the first quarter (Q1) of fiscal year 2024 (FY2024), which ended June 30, 2023
  - Revenue: $61 million
  - Net income: $105 million (Net loss)
  - Guidance: raised
  - Result: reported results
  source text: Total revenue for the three months ended June 30, 2023, was $61 million, compared to $65 million for the same period in the prior year, representing a decrease of 6%.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1804591/000095017023039809/0000950170-23-039809-index.htm
- Executive change
  Dr. Kenneth Hillan retired as Chief Therapeutics Officer at Chrome Holding Co..
  - Action: retired
  - Role: Chief Therapeutics Officer
  source text: On August 2, 2023 (the “Notice Date”), Dr. Kenneth Hillan, Chief Therapeutics Officer of 23andMe Holding Co. (the “Company”), notified the Company of his decision to retire (the “Retirement”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1804591/000095017023039809/0000950170-23-039809-index.htm
- Restructurings & Charges
  Chrome Holding Co. announced a restructuring with charges of approximately $3 million affecting Therapeutics segment (approximately 71 employees).
  - Type: restructuring
  - Charge: approximately $3 million
  - Affected area: Therapeutics segment
  - Headcount: approximately 71 employees
  source text: modification of certain stock options and restricted stock units (“equity compensation charges”). Severance and benefit continuation charges are estimated to be approximately $3 million and are expected to be recognized primarily in the second quarter of fiscal 2024, with the majority of such charges anticipated to be paid in cash during the same quarter. Equity
  evidence_url: https://www.sec.gov/Archives/edgar/data/1804591/000095017023039809/0000950170-23-039809-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.