{"schema_version":"secwatch.filing_event.v1","accession":"0001364954-24-000084","form_type":"8-K","ticker":"CHGG","cik":"0001364954","company_name":"CHEGG, INC","filed_at":"2024-11-12T23:59:59+00:00","discovered_at":"2026-05-14T18:03:08.263033+00:00","generated_at":"2026-05-30T01:40:35.095425+00:00","sec_items":["2.02","2.05","8.01","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.84,"calibrated_materiality_score":0.84,"confidence":"high","headline":"Chegg Q3 revenue down 13% to $136.6M; workforce cut 21%, buyback boosted $300M","bullets":["Q3 net revenues $136.6M (-13% YoY); Subscription Services rev $119.8M (-14% YoY); net loss $212.6M.","Adjusted EBITDA $22.3M; non-GAAP net income $9.8M; Subscription subscribers 3.8M (-13% YoY).","Restructuring: 319 employees (~21% of workforce) cut; total charges est. $22-26M through Q2 2025.","Restructuring expected to yield $100-120M in annualized non-GAAP cost savings in FY2025.","Board increased share repurchase authorization by $300M; total remaining $303.7M, no expiration."],"urls":{"canonical":"https://secwatch.observer/filing/0001364954-24-000084","json":"https://secwatch.observer/filing/0001364954-24-000084.json","markdown":"https://secwatch.observer/filing/0001364954-24-000084.md","text":"https://secwatch.observer/filing/0001364954-24-000084.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1364954/000136495424000084/0001364954-24-000084-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1364954/000136495424000084/chgg-20241112.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-30T01:40:35.095425+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"d2423ede9c51da9d6a26bf589d9bd13064e701da","claim":"CHEGG, INC announced a restructuring with charges of approximately $22 million to $26 million (319 employees, or approximately 21% of our current workforce).","evidence_excerpt":"are negatively impacting our business, including increased competition and student adoption of generative AI products. We estimate that we will incur charges of approximately $22 million to $26 million in connection with these actions, of which $18 million to $22 million is expected to result in future cash expenditures, primarily consisting of expenditures for","evidence_source":"SEC 8-K Item 2.05/2.06","evidence_url":"https://www.sec.gov/Archives/edgar/data/1364954/000136495424000084/0001364954-24-000084-index.htm","confidence":0.9,"family_label":"Restructurings & Charges","details":[{"label":"Type","value":"restructuring"},{"label":"Charge","value":"approximately $22 million to $26 million"},{"label":"Headcount","value":"319 employees, or approximately 21% of our current workforce"}],"fact_type":"restructuring_charge"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}