---
schema_version: "secwatch.filing_event.v1"
accession: "0001364954-24-000005"
form_type: "8-K"
ticker: "CHGG"
cik: "0001364954"
company_name: "CHEGG, INC"
filed_at: "2024-02-05T23:59:59+00:00"
generated_at: "2026-06-06T09:01:38.018591+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Chegg Q4 revenue down 8% to $188M; subscribers fall 9%; appoints David Longo as CFO

## Summary
- Q4 total net revenues $188.0M (-8% YoY); subscription rev $166.3M (-6%); 4.6M subscribers (-9%).
- Q4 GAAP net income $9.7M; non-GAAP net income $42.7M; Adjusted EBITDA $66.2M.
- Full year net revenues $716.3M (-7%); net income $18.2M; non-GAAP net income $141.8M; Adj. EBITDA $222.4M.
- Full year gross margin 68% (impacted by $38.2M one-time content charge).
- David Longo appointed CFO effective Feb 21, replacing retiring Andrew Brown; salary $680k, RSU $1.9M.

## SEC filing metadata
- accession: 0001364954-24-000005
- form_type: 8-K
- ticker: CHGG
- cik: 0001364954
- company_name: CHEGG, INC
- filed_at: 2024-02-05T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1364954/000136495424000005/0001364954-24-000005-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1364954/000136495424000005/chgg-20240202.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001364954-24-000005
- JSON: https://secwatch.observer/filing/0001364954-24-000005.json
- Plain text: https://secwatch.observer/filing/0001364954-24-000005.txt

## Key facts
- Earnings Releases
  CHEGG, INC reported the three months ended December 31, 2023 results: revenue $188.0 million, net income $9.7 million.
  - Period: the three months ended December 31, 2023
  - Revenue: $188.0 million
  - Net income: $9.7 million
  - Result: reported results
  source text: Q4 2023 Highlights: • Total Net Revenues of $188.0 million, a decrease of 8% year-over-year • Subscription Services Revenues of $166.3 million, or 88% of total net revenues, a decrease of 6% year-over-year • Gross Margin of 76% • Non-GAAP Gross Margin of 78% • Net Income was $9.7 million • Non-GAAP Net Income was $42.7 million • Adjusted EBITDA was $66.2 million • 4.6 million Subscription Services subscribers, a decrease of 9% year-over-year
  evidence_url: https://www.sec.gov/Archives/edgar/data/1364954/000136495424000005/0001364954-24-000005-index.htm
- Earnings Releases
  CHEGG, INC reported the twelve months ended December 31, 2023 results: revenue $716.3 million, net income $18.2 million.
  - Period: the twelve months ended December 31, 2023
  - Revenue: $716.3 million
  - Net income: $18.2 million
  - Result: reported results
  source text: Full Year 2023 Highlights: • Total Net Revenues of $716.3 million, a decrease of 7% year-over-year • Subscription Services Revenues of $640.5 million, or 89% of total net revenues, a decrease of 5% year-over-year • Gross Margin of 68% driven lower by a one-time content and related assets charge of $38.2 million • Non-GAAP Gross Margin of 76% • Net Income was $18.2 million • Non-GAAP Net Income was $141.8 million • Adjusted EBITDA was $222.4 million • 7.7 million Subscription Services subscribers, a decrease of 6% year-over-year
  evidence_url: https://www.sec.gov/Archives/edgar/data/1364954/000136495424000005/0001364954-24-000005-index.htm
- Executive change
  David Longo was appointed as Chief Financial Officer at CHEGG, INC.
  - Action: appointed
  - Role: Chief Financial Officer
  source text: On February 2, 2024, the Board of Directors of Chegg, Inc. (the “Company”) appointed David Longo, 56, as the Company’s Chief Financial Officer, Principal Financial Officer, and Treasurer, effective February 21, 2024, to serve until his successor is duly elected and qualified or until the earlier of his death, resignation or removal.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1364954/000136495424000005/0001364954-24-000005-index.htm
- Executive change
  Andrew Brown retired as Chief Financial Officer at CHEGG, INC.
  - Action: retired
  - Role: Chief Financial Officer
  source text: Mr. Longo is replacing Andrew Brown, who notified the Company of his retirement in October 2023, as previously disclosed in the Company's Current Report on Form 8-K filed with the Securities and Exchange Commission on October 30, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1364954/000136495424000005/0001364954-24-000005-index.htm

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