secwatch.observer — SEC 8-K summary
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Issuer:     CHEGG, INC (CHGG)
CIK:        0001364954
Form:       8-K
Filed at:   2024-02-05T23:59:59+00:00
Accession:  0001364954-24-000005
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1364954/000136495424000005/0001364954-24-000005-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1364954/000136495424000005/chgg-20240202.htm
  HTML page:      https://secwatch.observer/filing/0001364954-24-000005

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