---
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"
generated_at: "2026-05-30T01:40:35.095425+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.84
calibrated_materiality_score: 0.84
confidence: "high"
source: SEC EDGAR
---

# Chegg Q3 revenue down 13% to $136.6M; workforce cut 21%, buyback boosted $300M

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: earnings
- sentiment: negative
- materiality_score: 0.84
- calibrated_materiality_score: 0.84
- confidence: high
- sec_items: 2.02, 2.05, 8.01, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001364954-24-000084
- JSON: https://secwatch.observer/filing/0001364954-24-000084.json
- Plain text: https://secwatch.observer/filing/0001364954-24-000084.txt

## Key facts
- Restructurings & Charges
  CHEGG, INC announced a restructuring with charges of approximately $22 million to $26 million (319 employees, or approximately 21% of our current workforce).
  - Type: restructuring
  - Charge: approximately $22 million to $26 million
  - Headcount: 319 employees, or approximately 21% of our current workforce
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1364954/000136495424000084/0001364954-24-000084-index.htm

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