secwatch.observer — SEC 8-K summary
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Issuer:     CHEGG, INC (CHGG)
CIK:        0001364954
Form:       8-K
Filed at:   2023-10-30T23:59:59+00:00
Accession:  0001364954-23-000144
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Chegg Q3 net loss $18.3M, revenue down 4% YoY, CFO to retire
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- Total net revenues $157.9M, down 4% YoY; subscription services revenues $139.9M, down 4%.
- Net loss $18.3M; non-GAAP net income $23.2M; Adjusted EBITDA $38.8M.
- Gross margin 47% impacted by $38.2M one-time content charge; non-GAAP gross margin 74%.
- Subscribers 4.4M, down 8% YoY; company rolling out AI-powered user experience.
- CFO Andrew Brown plans to retire once successor is hired; departure not due to disagreement.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1364954/000136495423000144/0001364954-23-000144-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1364954/000136495423000144/chgg-20231026.htm
  HTML page:      https://secwatch.observer/filing/0001364954-23-000144

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer