secwatch.observer — SEC 8-K summary
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Issuer:     CHEGG, INC (CHGG)
CIK:        0001364954
Form:       8-K
Filed at:   2024-04-29T23:59:59+00:00
Accession:  0001364954-24-000040
Event type: earnings
Sentiment:  neutral
Materiality: 0.85
Item codes: 2.02, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Chegg Q1 revenue down 7% to $174.4M; Nathan Schultz to become CEO June 1
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- Total net revenues $174.4M (-7% YoY); subscription services revenue $154.1M (-9% YoY).
- Net loss $1.4M; non-GAAP net income $29.6M; adjusted EBITDA $46.7M.
- Subscription services subscribers 4.7M, down 8% year over year.
- Nathan Schultz appointed President and CEO effective June 1; Dan Rosensweig becomes Executive Chairman.
- Company targeting 30%+ adjusted EBITDA margin for 2025 via expense alignment.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1364954/000136495424000040/0001364954-24-000040-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1364954/000136495424000040/chgg-20240424.htm
  HTML page:      https://secwatch.observer/filing/0001364954-24-000040

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