{"schema_version":"secwatch.filing_event.v1","accession":"0001364954-25-000049","form_type":"8-K","ticker":"CHGG","cik":"0001364954","company_name":"CHEGG, INC","filed_at":"2025-05-12T23:59:59+00:00","discovered_at":"2026-05-14T18:02:48.074138+00:00","generated_at":"2026-05-21T23:16:23.365539+00:00","sec_items":["2.02","2.05","8.01","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.85,"calibrated_materiality_score":0.85,"confidence":"high","headline":"Chegg Q1 revenue down 30% to $121.4M, initiates restructuring cutting 22% of workforce","bullets":["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."],"urls":{"canonical":"https://secwatch.observer/filing/0001364954-25-000049","json":"https://secwatch.observer/filing/0001364954-25-000049.json","markdown":"https://secwatch.observer/filing/0001364954-25-000049.md","text":"https://secwatch.observer/filing/0001364954-25-000049.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1364954/000136495425000049/0001364954-25-000049-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1364954/000136495425000049/chgg-20250512.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-21T23:16:23.365539+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":"4a605e5f5fe8a7e736b4aa5926c2a7e6965adb27","claim":"CHEGG, INC announced a restructuring with charges of approximately $34 million to $38 million (248 employees, or approximately 22% of our current workforce).","evidence_excerpt":"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","evidence_source":"SEC 8-K Item 2.05/2.06","evidence_url":"https://www.sec.gov/Archives/edgar/data/1364954/000136495425000049/0001364954-25-000049-index.htm","confidence":0.9,"family_label":"Restructurings & Charges","details":[{"label":"Type","value":"restructuring"},{"label":"Charge","value":"approximately $34 million to $38 million"},{"label":"Headcount","value":"248 employees, or approximately 22% 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"}