{"schema_version":"secwatch.filing_event.v1","accession":"0001866550-24-000039","form_type":"8-K","ticker":null,"cik":"0001866550","company_name":"Thoughtworks Holding, Inc.","filed_at":"2024-05-07T23:59:59+00:00","discovered_at":"2026-05-14T18:03:20.984055+00:00","generated_at":"2026-06-02T20:39:34.484941+00:00","sec_items":["2.02","2.05","5.02","7.01","9.01"],"event_type":"other_material","sentiment":"neutral","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Thoughtworks Q1 revenue $248.6M (-19% YoY), net loss $30.9M; CEO Guo Xiao steps down, Mike Sutcliff named CEO","bullets":["Q1 revenue $248.6M (down 19% YoY, 18.7% constant currency); net loss $30.9M; adjusted EBITDA $6.8M (2.7% margin).","Restructuring program expanded: additional $25-30M savings targeted; total program savings $100-115M; $87M annualized savings achieved Q1.","CEO Guo Xiao steps down June 17; Mike Sutcliff (ex-Accenture Digital) succeeds as CEO and Director. Sutcliff base salary $750k, target bonus 100%.","Full year revenue guidance raised; Q2 expected sequential revenue growth. Extraordinary charges: $6.5-8M additional restructuring costs."],"urls":{"canonical":"https://secwatch.observer/filing/0001866550-24-000039","json":"https://secwatch.observer/filing/0001866550-24-000039.json","markdown":"https://secwatch.observer/filing/0001866550-24-000039.md","text":"https://secwatch.observer/filing/0001866550-24-000039.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1866550/000186655024000039/0001866550-24-000039-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1866550/000186655024000039/twks-20240501.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-02T20:39:34.484941+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":"dedf1a3dd210d06229571defe231ea7d0cab0d93","claim":"Thoughtworks Holding, Inc. reported first quarter ended March 31, 2024 results: revenue $248.6 million, net income $(30.9), EPS $(0.10). Guidance raised.","evidence_excerpt":"Thoughtworks Reports First Quarter 2024 Financial Results • First quarter revenues of $248.6 million • Raises full year revenue guidance and reiterates full year Adjusted EBITDA Margin guidance","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1866550/000186655024000039/0001866550-24-000039-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"first quarter ended March 31, 2024"},{"label":"Revenue","value":"$248.6 million"},{"label":"Net income","value":"$(30.9)"},{"label":"EPS","value":"$(0.10)"},{"label":"Guidance","value":"raised"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"},{"claim_id":"419e8c354a","claim":"Mike Sutcliff was appointed as Class III Director at Thoughtworks Holding, Inc..","evidence_excerpt":"The Company also intends to appoint Mr. Sutcliff as a Class III director of the Company effective on or about June 17, 2024.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1866550/000186655024000039/0001866550-24-000039-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"appoint"},{"label":"Role","value":"Class III Director"}],"fact_type":"executive_change"},{"claim_id":"ffbab1b28b","claim":"Mike Sutcliff was appointed as Chief Executive Officer and President at Thoughtworks Holding, Inc..","evidence_excerpt":"Mike Sutcliff will assume the role of Chief Executive Officer and President, effective on or before June 17, 2024.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1866550/000186655024000039/0001866550-24-000039-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"assume"},{"label":"Role","value":"Chief Executive Officer and President"}],"fact_type":"executive_change"},{"claim_id":"36596d3e1f5becbf1cb808e6800fcb32d2da91da","claim":"Thoughtworks Holding, Inc. announced a restructuring with charges of approximately $6.5 million to $8.0 million.","evidence_excerpt":"Thoughtworks expects to incur additional pre-tax cash charges of approximately $6.5 million to $8.0 million, for total expected pre-tax charges of approximately $26.5 million to $33.0 million (the “Updated Total Charges”).","evidence_source":"SEC 8-K Item 2.05/2.06","evidence_url":"https://www.sec.gov/Archives/edgar/data/1866550/000186655024000039/0001866550-24-000039-index.htm","confidence":0.9,"family_label":"Restructurings & Charges","details":[{"label":"Type","value":"restructuring"},{"label":"Charge","value":"approximately $6.5 million to $8.0 million"}],"fact_type":"restructuring_charge"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}