Chegg(US:CHGG)2024-04-29 21:01Q1 2024 Highlights - Global learners asked 9 million questions, a significant increase from 3.9 million a year ago[2] - AI content creation drove a return to non-subscriber traffic growth for Chegg Study in the U S[2] - Nathan Schultz is being promoted to Chegg's President & CEO, effective June 15[13] Financial Performance - Q1 2024 Subscription Services Revenue was $154 million, compared to $174 million in Q1 2023[91] - Total Revenue for Q1 2024 was $168 million, down from $188 million in Q1 2023[91] - Adjusted EBITDA for Q1 2024 was $56 million, representing 31% of revenue[126] - Free Cash Flow for Q1 2024 was $25 million[105] Strategic Initiatives - Chegg is rolling out AI services and focusing on skills growth[5] - The company is building a proprietary AI stack for personalized learning outcomes[33] - Chegg is testing pricing and packaging in the U S and marketing its new product experience[29] - Chegg is focused on prudent expense management to align with current revenue trends[11]