CHEGG, INC (CHGG): restructuring charge — Chegg Q1 revenue down 30% to $121.4M, initiates restructuring cutting 22% of workforce

CHEGG, INC

2025-Q1 EPS reported -$0.17 revenue$121,387,000

Total revenue $121.4M (-30% YoY); subscription revenue $107.6M (-30%); subscribers fell 31% to 3.2M.
Net loss $17.5M; adjusted EBITDA $19.3M; non-GAAP net loss $6.7M.
Restructuring cuts 248 employees (~22%); expects charges of $34-38M, mostly cash.
Annualized non-GAAP cost savings of $45-55M in FY2025 and $100-110M in FY2026.
HQ lease termination saves $5.3M; no rent July-Dec 2025; strategic alternatives process ongoing.

item 2.02 item 2.05 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

CHEGG, INC announced a restructuring with charges of approximately $34 million to $38 million (248 employees, or approximately 22% of our current workforce).

Type: restructuring
Charge: approximately $34 million to $38 million
Headcount: 248 employees, or approximately 22% of our current workforce

Exact text from the filing

with ongoing industry challenges that are negatively impacting our business, including a decline in our traffic. We estimate that we will incur charges of approximately $34 million to $38 million in connection with these actions, of which $31 million to $35 million is expected to result in future cash expenditures, primarily consisting of expenditures for

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18 restructurings & charges filed in the last 30 days. Browse all restructurings & charges →

CHEGG, INC filing history →

Source: SEC EDGAR

accession 0001364954-25-000049

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