Chegg Q1 2023 revenue down 7% to $187.6M; subscribers fall 5% to 5.1M

CHEGG, INC

2023-Q1 EPS reported $0.02 revenue$187,601,000

Total revenues $187.6M (-7% YoY); subscription revenue $168.4M (-3% YoY).
Net income $2.2M; non-GAAP net income $38.1M; adjusted EBITDA $57.6M.
Subscription subscribers 5.1M, down 5% YoY from 5.4M in Q1 2022.
CEO Dan Rosensweig says embracing AI aggressively, launching CheggMate leveraging proprietary data and 150K experts.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

CHEGG, INC reported three months ended March 31, 2023 results: revenue $187.6 million, net income $2.2 million.

Period: three months ended March 31, 2023
Revenue: $187.6 million
Net income: $2.2 million
Result: reported results

Exact text from the filing

can leverage our proprietary data, our 150,000+ experts, and our decade-plus years of experience as we launch CheggMate.” First Quarter 2023 Highlights • Total Net Revenues of $187.6 million, a decrease of 7% year-over-year • Subscription Services Revenues declined 3% year-over-year to $168.4 million, or 90% of total net revenues, compared to 86% in Q1 2022 • Net

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Source: SEC EDGAR

accession 0001364954-23-000067

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