SANTA CLARA, Calif.--(BUSINESS WIRE)--Chegg, Inc. (NYSE: CHGG), the leading student-first connected learning platform, today announced the appointment of David Longo as Chief Financial Officer, effective February 21. Mr. Longo currently serves as Vice President, Chief Accounting Officer, Corporate Controller, and Assistant Treasurer at Chegg. He will succeed Andrew Brown, who announced his retirement in the fall of last year, after more than 12 years at Chegg. “ David is the perfect candidate to take on t ...

Shares of Chegg (CHGG -2.19%) fell as much as 11.5% early Friday, then settled to close down 2.19% after a Goldman Sachs analyst downgraded shares of the online education platform.Goldman thinks AI will be a headwind for CheggIn a note to clients this morning, Goldman analyst Eric Sheridan lowered his rating on Chegg to sell from neutral, and also reduced his per-share price target on the stock to $8 from $10. To justify his relative bearishness, Sheridan said he's reducing his revenue estimates for Chegg g ...

Last year, tech stocks largely rebounded after the challenges of 2022, as evidenced by the fact that the tech-heavy Nasdaq Composite outperformed the two other major U.S. stock market indexes. Naturally, many tech stocks performed in line -- or even better -- than the Nasdaq, but others weren't so lucky.Google parent Alphabet (GOOG -0.09%) (GOOGL -0.14%) was one of those that did well, while the online learning specialist Chegg (CHGG 0.65%) wasn't so fortunate in 2023. Investors should expect more of the sa ...

Orchestrator routes questions based on the type and format of the question, as well as the subject matter Proprietary subject-specific models built with Scale AI Computational Engines, such as Mathway, optimized for education and STEM-B Additional Machine Learning models for image transcription, question understanding, and to help with Honor Code enforcement We built Orchestrator to be adaptable The advances in AI create opportunities for Chegg and we've pivoted the company to harness AI to better serve lea ...

Dan Rosensweig Yes. So Andy has coined the phrase, subscription math, so in his honor upon his retirement. IÂ'll sort of walk us through this a little bit, which is, when an account comes up for renewal, what we mean by weÂ've seen incredibly high renewal rates is of those that come up for renewal, they are renewing at a much higher rate and staying on longer than they ever have. And weÂ're also seeing a significant improvement in take rate, which is almost one out of every two new customers now is taking t ...

Note 10. Restructuring In June 2023, we announced a reduction in workforce to better position the Company to execute against its AI strategy and to create long-term, sustainable value for its students and investors. This resulted in a management approved restructuring plan that impacted approximately 90 employees primarily in the United States. During the nine months ended September 30, 2023, we recorded restructuring charges of $5.7 million related to one-time employee termination benefits classified on ou ...

Okay. That's helpful. I know -- I'm sorry. In the past you've talked about the strong visibility in your business. And I'm just curious, what do you need to see before you think you'll start talking about annual guidance again? Dan Rosensweig What I will just add to what I said earlier is as the semester evolves, third, fourth week of August, first couple of weeks in September, that gives us a really good lens into obviously, to Q4. And since Q1 is a rollover from Q4, I think we're getting closer to that. B ...

FORM 10-Q Table of Contents Unless the context requires otherwise, the words "we," "us," "our," "Company" and "Chegg" refer to Chegg, Inc. and its subsidiaries taken as a whole. NOTE ABOUT FORWARD-LOOKING STATEMENTS Table of Contents Table of Contents Table of Contents 6 | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |------------------------------------------------------------------------------------|---------------------------|-----------------------------|-------|-------|------------ ...

Company Participants Dan Rosensweig - Co-Chairperson & Chief Executive Officer It is now my pleasure to introduce your host, Tracey Ford. Please go ahead. Chegg, Inc. (NYSE:CHGG) Q1 2023 Earnings Conference Call May 1, 2023 4:30 PM ET Tracey Ford - Vice President of Investor Relations & ESG Andy Brown - Chief Financial Officer Conference Call Participants Doug Anmuth - JP Morgan Ryan MacDonald - Needham & Company Josh Baer - Morgan Stanley Jason Celino - KeyBanc Capital Markets Arvind Ramnani - Piper Sandle ...

Forward-Looking Statements developments, including pricing pressures and other services targeting students; Chegg's ability to build and expand its services offerings; Chegg's ability to integrate acquired businesses and assets; the impact of seasonality and student behavior on the business; the outcome of any current litigation and investigations; Chegg's ability to effectively control operating costs; changes in Chegg's addressable market; regulatory changes, in particular concerning privacy, marketing, a ...