CHEGG, INC, 10-Q filed on 5/12/2025
Quarterly Report
v3.25.1
Cover Page - shares
 3 Months Ended
Mar. 31, 2025
May 05, 2025
Cover [Abstract]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Mar. 31, 2025  
Document Transition Report false  
Entity File Number 001-36180  
Entity Registrant Name CHEGG, INC  
Entity Incorporation, State or Country Code DE  
Entity Tax Identification Number 20-3237489  
Entity Address, Address Line One 3990 Freedom Circle  
Entity Address, City or Town Santa Clara  
Entity Address, State or Province CA  
Entity Address, Postal Zip Code 95054  
City Area Code 408  
Local Phone Number 855-5700  
Title of 12(b) Security Common stock, $0.001 par value per share  
Trading Symbol CHGG  
Security Exchange Name NYSE  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding   106,570,452
Entity Central Index Key 0001364954  
Current Fiscal Year End Date --12-31  
Document Fiscal Year End 2025  
Document Fiscal Period Focus Q1  
Amendment Flag false  
v3.25.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Current assets    
Cash and cash equivalents $ 44,105 $ 161,475
Short-term investments 44,188 154,249
Accounts receivable, net of allowance of $121 and $190 at March 31, 2025 and December 31, 2024, respectively 28,549 23,641
Prepaid expenses 14,514 17,100
Other current assets 78,395 81,094
Total current assets 209,751 437,559
Long-term investments 38,093 212,650
Property and equipment, net 144,971 170,648
Intangible assets, net 9,271 10,347
Right of use assets 21,479 22,256
Other assets 15,204 15,491
Total assets 438,769 868,951
Current liabilities    
Accounts payable 16,812 15,159
Deferred revenue 45,150 39,217
Accrued liabilities 109,070 115,360
Current portion of convertible senior notes, net 0 358,605
Total current liabilities 171,032 528,341
Long-term liabilities    
Convertible senior notes, net 62,475 127,344
Long-term operating lease liabilities 17,797 18,509
Other long-term liabilities 1,794 1,776
Total long-term liabilities 82,066 147,629
Total liabilities 253,098 675,970
Commitments and contingencies
Stockholders' equity:    
Preferred stock, $0.001 par value per share, 10,000,000 shares authorized, no shares issued and outstanding 0 0
Common stock, $0.001 par value per share: 400,000,000 shares authorized; 105,376,973 and 104,880,048 shares issued and outstanding at March 31, 2025 and December 31, 2024, respectively 105 105
Additional paid-in capital 1,125,738 1,114,550
Accumulated other comprehensive loss (33,247) (32,233)
Accumulated deficit (906,925) (889,441)
Total stockholders' equity 185,671 192,981
Total liabilities and stockholders' equity $ 438,769 $ 868,951
v3.25.1
CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Statement of Financial Position [Abstract]    
Accounts receivable, net of allowance $ 121 $ 190
Preferred stock, par value (in dollars per share) $ 0.001 $ 0.001
Preferred stock, shares authorized (in shares) 10,000,000 10,000,000
Preferred stock, shares issued (in shares) 0 0
Preferred stock, shares outstanding (in shares) 0 0
Common stock, par value (in dollars per share) $ 0.001 $ 0.001
Common stock, shares authorized (in shares) 400,000,000 400,000,000
Common stock, shares issued (in shares) 105,376,973 104,880,048
Common stock, shares outstanding (in shares) 105,376,973 104,880,048
v3.25.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Income Statement [Abstract]    
Net revenues $ 121,387 $ 174,350
Cost of revenues 53,973 46,497
Gross profit 67,414 127,853
Operating expenses:    
Research and development 29,428 44,435
Sales and marketing 25,614 30,375
General and administrative 39,374 55,534
Impairment expense 2,000 0
Total operating expenses 96,416 130,344
Loss from operations (29,002) (2,491)
Interest expense and other income, net:    
Interest expense (467) (650)
Other income, net 12,997 10,780
Total interest expense and other income, net 12,530 10,130
(Loss) income before provision for income taxes (16,472) 7,639
Provision for income taxes (1,012) (9,059)
Net loss $ (17,484) $ (1,420)
Net loss per share, basic, (in dollars per share) $ (0.17) $ (0.01)
Net loss per share, diluted (in dollars per share) $ (0.17) $ (0.01)
Weighted average shares used to compute net loss per share, basic (in shares) 105,159 102,343
Weighted average shares used to compute net loss per share, diluted (in shares) 105,159 102,343
v3.25.1
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Statement of Comprehensive Income [Abstract]    
Net loss $ (17,484) $ (1,420)
Other comprehensive loss    
Change in net unrealized loss on investments (523) (1,970)
Change in foreign currency translation adjustments (491) (3,963)
Other comprehensive loss (1,014) (5,933)
Total comprehensive loss $ (18,498) $ (7,353)
v3.25.1
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($)
$ in Thousands
Total
Common Stock
Additional Paid-In Capital
Accumulated Other Comprehensive Loss
Accumulated Deficit
Beginning balance (in shares) at Dec. 31, 2023   102,824,000      
Beginning balance at Dec. 31, 2023 $ 944,618 $ 103 $ 1,031,627 $ (34,739) $ (52,373)
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Repurchases of common stock (in shares)   (2,116,000)      
Repurchase of common stock (114) $ (2) (112)    
Net share settlement of equity awards (in shares)   862,000      
Net share settlement of equity awards (4,293) $ 1 (4,294)    
Share-based compensation expense 30,616   30,616    
Other comprehensive loss (5,933)     (5,933)  
Net loss (1,420)       (1,420)
Ending balance (in shares) at Mar. 31, 2024   101,570,000      
Ending balance at Mar. 31, 2024 963,474 $ 102 1,057,837 (40,672) (53,793)
Beginning balance (in shares) at Dec. 31, 2023   102,824,000      
Beginning balance at Dec. 31, 2023 $ 944,618 $ 103 1,031,627 (34,739) (52,373)
Ending balance (in shares) at Dec. 31, 2024 104,880,048 104,880,000      
Ending balance at Dec. 31, 2024 $ 192,981 $ 105 1,114,550 (32,233) (889,441)
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net share settlement of equity awards (in shares)   497,000      
Net share settlement of equity awards (469)   (469)    
Share-based compensation expense 11,657   11,657    
Other comprehensive loss (1,014)     (1,014)  
Net loss $ (17,484)       (17,484)
Ending balance (in shares) at Mar. 31, 2025 105,376,973 105,377,000      
Ending balance at Mar. 31, 2025 $ 185,671 $ 105 $ 1,125,738 $ (33,247) $ (906,925)
v3.25.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities    
Net loss $ (17,484) $ (1,420)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Share-based compensation expense 11,257 29,289
Depreciation and amortization expense 32,094 19,687
Deferred tax assets 15 2,877
Operating lease expense, net of accretion 1,089 1,567
Amortization of debt issuance costs 377 541
Loss from write-offs of property and equipment 2,287 478
Gain on early extinguishment of debt (7,360) 0
Realized gain on sale of investments (752) 0
Other non-cash items (28) (31)
Change in assets and liabilities:    
Accounts receivable (4,693) 6,705
Prepaid expenses and other current assets 5,880 3,583
Other assets 518 (1,270)
Accounts payable 1,535 (6,589)
Deferred revenue 5,437 (1,159)
Accrued liabilities (4,894) 640
Other liabilities (752) (1,580)
Net cash provided by operating activities 24,526 53,318
Cash flows from investing activities    
Purchases of property and equipment (8,665) (28,017)
Purchases of investments (793) (79,028)
Maturities of investments 103,214 50,731
Proceeds from sale of investments 181,158 0
Proceeds from sale of strategic equity investment 0 15,500
Net cash provided by (used in) investing activities 274,914 (40,814)
Cash flows from financing activities    
Payment of taxes related to the net share settlement of equity awards (469) (4,294)
Repayment of convertible senior notes (416,492) 0
Net cash used in financing activities (416,961) (4,294)
Effect of exchange rate changes 218 (226)
Net (decrease) increase in cash, cash equivalents and restricted cash (117,303) 7,984
Cash, cash equivalents and restricted cash, beginning of period 164,359 137,976
Cash, cash equivalents and restricted cash, end of period 47,056 145,960
Supplemental cash flow data:    
Interest 224 224
Income taxes, net of refunds 1,227 641
Cash paid for amounts included in the measurement of lease liabilities:    
Operating cash flows from operating leases 2,221 2,216
Right of use assets obtained in exchange for lease obligations:    
Operating leases 258 0
Non-cash investing and financing activities:    
Accrued purchases of long-lived assets $ 4,265 $ 6,302
v3.25.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (PARENTHETICAL) - USD ($)
$ in Thousands
Mar. 31, 2025
Mar. 31, 2024
Reconciliation of cash, cash equivalents and restricted cash:    
Cash and cash equivalents $ 44,105 $ 143,747
Restricted cash included in other current assets 1,036 224
Restricted cash included in other assets 1,915 1,989
Total cash, cash equivalents and restricted cash $ 47,056 $ 145,960
v3.25.1
Background and Basis of Presentation
 3 Months Ended
Mar. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Background and Basis of Presentation Background and Basis of Presentation
Company and Background

Chegg, Inc. (“we,” “us,” “our,” “Company” or “Chegg”), headquartered in Santa Clara, California, was incorporated as a Delaware corporation in July 2005. Chegg provides individualized learning support to students as they pursue their educational journeys. Available on demand 24/7 and powered by over a decade of learning insights, the Chegg platform offers students artificial intelligence (AI)-powered academic support thoughtfully designed for education coupled with access to a vast network of subject matter experts who help ensure quality and accuracy. No matter the goal, level, or style, Chegg helps millions of students around the world learn with confidence by helping them build essential academic, life, and job skills to achieve success.

Basis of Presentation

The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“GAAP”) and applicable rules and regulations of the U.S. Securities and Exchange Commission (“SEC”) regarding interim financial reporting. The condensed consolidated financial statements include the results of Chegg, Inc. and its wholly-owned subsidiaries. Significant intercompany balances and transactions have been eliminated. In the opinion of management, the accompanying unaudited condensed consolidated financial statements contain all adjustments, including normal recurring adjustments, necessary to present fairly our financial position as of March 31, 2025 and our results of operations, results of comprehensive loss, stockholders' equity, and cash flows for the three months ended March 31, 2025 and 2024. Our results of operations, results of comprehensive loss, stockholders' equity, and cash flows for the three months ended March 31, 2025 are not necessarily indicative of the results to be expected for the full year.

We have a single operating and reportable segment and operating unit structure. The condensed consolidated financial statements and related financial information should be read in conjunction with the audited consolidated financial statements and the related notes thereto that are included in our Annual Report on Form 10-K for the year ended December 31, 2024 (the Annual Report on Form 10-K) filed with the SEC.

Except for the following change to our policy on revenue recognition and deferred revenue, there have been no material changes to our significant accounting policies as compared to the significant accounting policies described in our Annual Report on Form 10-K. Our policy on revenue recognition and deferred revenue has been updated to address the revenue recognition of content licensing.

Revenue Recognition and Deferred Revenue

Revenues from content licensing are recognized upon fulfillment.

Use of Estimates

The preparation of financial statements in conformity with generally accepted accounting principles in the United States (U.S. GAAP) requires management to make estimates, judgments, and assumptions that affect the reported amounts of assets and liabilities; the disclosure of contingent liabilities at the date of the financial statements; and the reported amounts of revenues and expenses during the reporting periods. We base our estimates on historical experience, knowledge of current business conditions, and various other factors we believe to be reasonable under the circumstances. These estimates are based on management’s knowledge about current events and expectations about actions we may undertake in the future. Actual results could differ from these estimates, and such differences could be material to our financial position and results of operations. There have been no material changes in our use of estimates during the three months ended March 31, 2025 as compared to the use of estimates disclosed in Part II, Item 8 “Consolidated Financial Statements and Supplementary Data” contained in our Annual Report on Form 10-K for the year ended December 31, 2024.
Reclassification of Prior Period Presentation

In order to conform with current period presentation, $1.0 million of deferred tax assets have been reclassified from deferred tax assets to other assets on our condensed consolidated balance sheet as of December 31, 2024. This change in presentation does not affect previously reported results.

Leases

As of March 31, 2025, we had an additional operating lease commitment of approximately $1.3 million for an office lease that has not yet commenced. This operating lease has a term of two years and is expected to commence during 2025. As such, we have not recorded the corresponding right of use asset or operating lease liability on our condensed consolidated balance sheet.

Recent Accounting Pronouncements

Recently Issued Accounting Pronouncements Not Yet Adopted

In November 2024, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2024-04, Debt—Debt with Conversion and Other Options. ASU 2024-04 improves the relevance and consistency in application of the induced conversion guidance requirements in Accounting Standards Codification (ASC) 470-20—Debt. Early adoption is permitted, and the guidance can be applied on either a prospective or retrospective basis. The guidance is effective for annual periods beginning after December 15, 2025 and interim periods within those annual periods. We did not early adopt ASU 2024-04 and we are currently in the process of evaluating the impact of this guidance.

In November 2024, the Financial Accounting Standards Board (FASB) issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures. ASU 2024-03 requires disclosure of specified information about certain costs and expenses in the notes to financial statements. Early adoption is permitted, and the guidance will be applied prospectively with the option to apply retrospectively. The guidance is effective for annual periods beginning after December 15, 2026 and interim periods beginning after December 15, 2027. We did not early adopt ASU 2024-03 and we are currently in the process of evaluating the impact of this guidance.

In March 2024, the FASB issued ASU 2024-02, Codification Improvements—Amendments to Remove References to the Concepts Statements. ASU 2024-02 removes various references to the FASB’s Concepts Statements from the FASB’s Accounting Standards Codification. Early adoption is permitted, and the guidance will be applied prospectively with the option to apply retrospectively. The guidance is effective for annual periods beginning after December 15, 2024. We did not early adopt ASU 2024-02 and do not believe it will have a significant impact on our financial statements, however, we are currently in the process of evaluating the impact.

In December 2023, the FASB issued ASU 2023-09, Improvements to Income Tax Disclosures. ASU 2023-09 requires disaggregated information about our effective tax rate reconciliation as well as information on income taxes paid that meet a quantitative threshold. Early adoption is permitted, and the guidance will be applied prospectively with the option to apply retrospectively. The guidance is effective for annual periods beginning after December 15, 2024. We did not early adopt ASU 2023-09 and we are currently in the process of evaluating the impact of this guidance.

Recently Adopted Accounting Pronouncements

In November 2023, the FASB issued ASU 2023-07, Improvements to Reportable Segment Disclosures. ASU 2023-07 enhances current interim and annual reportable segment disclosures and requires additional disclosures about significant segment expenses. Public entities with a single reportable segment are required to apply the disclosure requirements in ASU 2023-07, as well as all existing segment disclosures and reconciliation requirements in ASC 280—Segment Reporting on an interim and annual basis. In the first quarter of 2025, we adopted ASU 2023-07 on a retrospective basis for quarterly periods starting with this Quarterly Report on Form 10-Q. For further information on the additional reportable segment disclosures, refer to “Note 12, Segment Information.”
v3.25.1
Revenues
 3 Months Ended
Mar. 31, 2025
Revenue from Contract with Customer [Abstract]  
Revenues Revenues
Revenue Recognition

Revenues are recognized when control of the promised goods or services is transferred to our customers, in an amount that reflects the consideration we expect to be entitled to in exchange for those goods or services. The majority of our revenues are recognized over time as services are performed, with certain revenues being recognized at a point in time.

The following tables present our total net revenues for the periods shown disaggregated for our Subscription Services and Skills and Other product lines (in thousands, except percentages):
 Three Months Ended
March 31,		Change
 20252024$%
Subscription Services$107,566 $154,051 $(46,485)(30)%
Skills and Other13,821 20,299 (6,478)(32)
Total net revenues$121,387 $174,350 $(52,963)(30)

During the three months ended March 31, 2025 and 2024, we recognized revenues of $27.2 million and $37.5 million, respectively, that were included in our deferred revenue balance at the beginning of each respective reporting period.

Contract Balances

The following table presents our accounts receivable, net, contract assets and deferred revenue balances (in thousands, except percentages):
 Change
 March 31,
2025		December 31, 2024$%
Accounts receivable, net$28,549 $23,641 $4,908 21 %
Contract assets6,771 7,027 (256)(4)
Deferred revenue45,150 39,217 5,933 15 

During the three months ended March 31, 2025 our accounts receivable, net balance increased by $4.9 million, or 21%, primarily due to amounts receivable from content licensing partially offset by the seasonality of our business. During the three months ended March 31, 2025, our contract assets balance remained relatively flat. During the three months ended March 31, 2025, our deferred revenue balance increased by $5.9 million, or 15%, primarily due to content licensing.
v3.25.1
Net Loss Per Share
 3 Months Ended
Mar. 31, 2025
Earnings Per Share [Abstract]  
Net Loss Per Share Net Loss Per Share
The following table presents the computation of basic and diluted net loss per share (in thousands, except per share amounts):
Three Months Ended
March 31,
20252024
Basic
Numerator:
Net loss
$(17,484)$(1,420)
Denominator:
Weighted average shares used to compute net loss per share, basic and diluted
105,159 102,343 
Net loss per share, basic and diluted
$(0.17)$(0.01)
During the three months ended March 31, 2025 and 2024, basic and diluted net loss per share was the same, as the inclusion of all potential common shares outstanding would have been anti-dilutive.
The following table presents potential weighted-average shares of common stock outstanding that were excluded from the computation of diluted net loss per share because including them would have been anti-dilutive (in thousands):
Three Months Ended
March 31,
20252024
Shares related to stock plan activity10,091 6,992 
Shares related to convertible senior notes6,620 9,234 
Total common stock equivalents16,711 16,226 
v3.25.1
Cash and Cash Equivalents, Investments and Fair Value Measurements
 3 Months Ended
Mar. 31, 2025
Cash and Cash Equivalents [Abstract]  
Cash and Cash Equivalents, Investments and Fair Value Measurements Cash and Cash Equivalents, Investments and Fair Value Measurements
The following tables present our cash and cash equivalents, and investments’ fair value level classification, adjusted cost, unrealized gain, unrealized loss and fair value as of March 31, 2025 and December 31, 2024 (in thousands):
 March 31, 2025
 Fair Value LevelAdjusted CostUnrealized GainUnrealized LossFair Value
Cash and cash equivalents:   
Cash$26,863 $— $— $26,863 
Money market fundsLevel 117,242 — — 17,242 
Total cash and cash equivalents$44,105 $— $— $44,105 
Short-term investments:   
Corporate debt securitiesLevel 2$44,074 $114 $— $44,188 
Long-term investments:   
Corporate debt securitiesLevel 2$37,882 $211 $— $38,093 
Total long-term investments$37,882 $211 $— $38,093 

 December 31, 2024
 Fair Value LevelAdjusted CostUnrealized GainUnrealized LossFair Value
Cash and cash equivalents:   
Cash$28,716 $— $— $28,716 
Money market fundsLevel 1132,759 — — 132,759 
Total cash and cash equivalents$161,475 $— $— $161,475 
Short-term investments:   
Corporate debt securitiesLevel 2$113,968 $157 $(29)$114,096 
U.S. treasury securitiesLevel 140,162 — (9)40,153 
Total short-term investments$154,130 $157 $(38)$154,249 
Long-term investments:   
Corporate debt securitiesLevel 2$133,516 $736 $(78)$134,174 
U.S. treasury securitiesLevel 178,405 97 (26)78,476 
Total long-term investments$211,921 $833 $(104)$212,650 

As of March 31, 2025, there were no unrealized losses on our investments. During the three months ended March 31, 2025 and 2024, we did not recognize any losses on our investments due to credit related factors and our realized gains and losses on investments were not significant.
The following table presents our cash equivalents and investments' adjusted cost and fair value by contractual maturity as of March 31, 2025 (in thousands):
 Adjusted CostFair Value
Due within one year$44,074 $44,188 
Due after one year through three years37,882 38,093 
Investments not due at a single maturity date17,242 17,242 
Total$99,198 $99,523 

Investments not due at a single maturity date in the preceding table consisted of money market funds.

Strategic Investments

In July 2022, we completed an investment of $6.0 million in Knack Technologies, Inc. (Knack), a privately held U.S. based peer-to-peer tutoring platform for higher education institutions. We do not have the ability to exercise significant influence over Knack's operating and financial policies and have elected to account for our investment at cost as it does not have a readily determinable fair value. We did not record any impairment expenses during the three months ended March 31, 2025 and 2024, as there were no significant identified events or changes in circumstances that would be considered an indicator for impairment. There were no observable price changes in orderly transactions for the identical or similar investments of the same issuer during the three months ended March 31, 2025 and 2024.

Financial Instruments Not Recorded at Fair Value on a Recurring Basis

We report our financial instruments at fair value with the exception of the 2026 notes. The estimated fair value of the 2026 notes was determined based on the trading price as of the last day of trading for the period. We consider the fair value of the 2026 notes to be a Level 2 measurement due to the limited trading activity. The estimated fair value of the 2026 notes as of March 31, 2025 and December 31, 2024 was $52.1 million and $105.8 million, respectively. For further information on the 2026 notes, refer to Note 7, “Convertible Senior Notes.”
v3.25.1
Property and Equipment, Net
 3 Months Ended
Mar. 31, 2025
Property, Plant and Equipment [Abstract]  
Property and Equipment, Net Property and Equipment, Net
Property and equipment, net consisted of the following (in thousands):
March 31, 2025December 31, 2024
Content$339,227 $381,629 
Software
51,003 67,612 
Leasehold improvements8,235 8,207 
Furniture and fixtures3,337 3,346 
Computer and equipment2,985 2,953 
Property and equipment404,787 463,747 
Less accumulated depreciation(259,816)(293,099)
Property and equipment, net$144,971 $170,648 

Depreciation expense during the three months ended March 31, 2025 and 2024 was $31.0 million and $15.7 million, respectively.

During the three months ended March 31, 2025, we streamlined our product experiences. As a result, we elected to abandon certain content and internal-use software assets and recorded charges of $18.2 million, consisting of $16.2 million of accelerated depreciation classified as cost of revenues on our condensed consolidated statements of operations and $2.0 million of impairment of in-progress internal-use software assets classified as impairment expense on our condensed consolidated statements of operations.
v3.25.1
Balance Sheet Details
 3 Months Ended
Mar. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Balance Sheet Details Balance Sheet Details
Other Current Assets

Other current assets consisted of the following (in thousands):
March 31, 2025December 31, 2024
Insurance loss recovery$55,000 $55,000 
Restricted cash1,036 956 
Other22,359 25,138 
Other current assets$78,395 $81,094 
    

Accrued Liabilities

Accrued liabilities consisted of the following (in thousands):
March 31, 2025December 31, 2024
Loss contingency$62,000 $62,000 
Taxes payable11,446 11,319 
Current operating lease liabilities4,496 5,625 
Restructuring liability2,044 7,310 
Other29,084 29,106 
Accrued liabilities$109,070 $115,360 
v3.25.1
Convertible Senior Notes
 3 Months Ended
Mar. 31, 2025
Debt Disclosure [Abstract]  
Convertible Senior Notes Convertible Senior Notes
In March/April 2019, we issued $800 million in aggregate principal amount of 0.125% convertible senior notes due in 2025 (2025 notes). The 2025 notes matured on March 15, 2025 and we paid $358.9 million to repay them which was classified as a financing activity on our condensed consolidated statements of cash flows.

In August 2020, we issued $1.0 billion in aggregate principal amount of 0% convertible senior notes due in 2026 (2026 notes, together with the 2025 notes, the notes). The 2026 notes bear no interest and will mature on September 1, 2026, unless repurchased, redeemed or converted in accordance with their terms prior to such date.

Each $1,000 principal amount of the 2026 notes will initially be convertible into 9.2978 shares of our common stock. This is equivalent to an initial conversion price of approximately $107.55 per share, which is subject to adjustment in certain circumstances. Prior to the close of business on the business day immediately preceding June 1, 2026 for the 2026 notes, the notes are convertible at the option of holders only upon satisfaction of certain circumstances. During the three months ended March 31, 2025, the circumstances allowing holders of the 2026 notes to convert were not met. On or after June 1, 2026 for the 2026 notes until the close of business on the second scheduled trading day immediately preceding the respective maturity dates, holders may convert their notes at any time, regardless of the circumstances.

In March 2025, in connection with our securities repurchase program, we extinguished $65.2 million aggregate principal amount of the 2026 notes in privately-negotiated transactions for a total consideration of $57.4 million, which was paid to the holders in cash. We also incurred approximately $0.2 million in fees resulting in a total reacquisition price of $57.6 million. The carrying amount of the extinguished notes was $64.9 million resulting in a $7.4 million gain on early extinguishment of debt. We elected to reacquire and not cancel the extinguished 2026 notes and left the associated capped call transactions outstanding.
The following table presents the net carrying amount of the notes (in thousands):

March 31, 2025December 31, 2024
2026 Notes2025 Notes2026 Notes2025 Notes
Principal$62,710 $— $127,906 $358,914 
Unamortized issuance costs(235)— (562)(309)
Net carrying amount$62,475 $— $127,344 $358,605 

The following table presents the total interest expense recognized related to the notes (in thousands):
Three Months Ended March 31,
20252024
2026 notes:
Contractual interest expense$— $— 
Amortization of issuance costs69 161 
Total 2026 notes interest expense$69 $161 
2025 notes:
Contractual interest expense$90 $109 
Amortization of issuance costs308 380 
Total 2025 notes interest expense$398 $489 

Capped Call Transactions

Concurrently with the offering of the 2026 notes, we used $103.4 million of the net proceeds to enter into privately negotiated capped call transactions which are expected to reduce or offset potential dilution to holders of our common stock upon conversion of the notes or offset the potential cash payments we would be required to make in excess of the principal amount of any converted notes. The capped call transactions automatically exercise upon conversion of the notes and as of March 31, 2025, cover 9,297,800 shares of our common stock for the 2026 notes. These are intended to effectively increase the overall conversion price from $107.55 to $156.44 per share for the 2026 notes. The effective increase in conversion price as a result of the capped call transactions serves to reduce potential dilution to holders of our common stock and/or offset the cash payments we are required to make in excess of the principal amount of any converted notes. As these transactions meet certain accounting criteria, they are recorded in stockholders’ equity as a reduction of additional paid-in capital on our condensed consolidated balance sheets and are not accounted for as derivatives. The fair value of the capped call instrument is not remeasured each reporting period. The cost of the capped call is not expected to be deductible for tax purposes.
v3.25.1
Commitments and Contingencies
 3 Months Ended
Mar. 31, 2025
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Commitments and Contingencies
We may from time to time be subject to certain legal proceedings and claims in the ordinary course of business, including claims of alleged infringement of trademarks, patents, copyrights, and other intellectual property rights; employment claims; and general contract or other claims. We may also, from time to time, be subject to various legal or government claims, demands, disputes, investigations, or requests for information. Such matters may include, but not be limited to, claims, disputes, or investigations related to warranty, refund, breach of contract, employment, intellectual property, government regulation, or compliance or other matters.

On March 1, 2023, Plaintiff Shiva Stein, derivatively on behalf of Chegg, filed a stockholder derivative complaint in the Court of Chancery of the State of Delaware (Case No. 2023-0244-NAC) asserting breach of fiduciary duty, unjust enrichment, and waste of corporate asset claims against members of Chegg’s Board and certain Chegg officers. The matter is stayed. The Company disputes these claims and intends to vigorously defend itself in this matter.

On February 14, 2023, Plaintiff Brian Stansell, individually and on behalf of other similarly situated stockholders of Chegg, filed a putative class action complaint in the Court of Chancery of the State of Delaware (Case No. 2023-0180) on behalf of all Chegg stockholders who were eligible to vote at Chegg's 2022 Annual Stockholders' Meeting, asserting breach of fiduciary duty claims against the members of Chegg's Board. The Court dismissed this matter pursuant to the Company's motion to dismiss and the matter is concluded.
On December 22, 2022, JPMorgan Chase Bank, N.A. (JPMC) asserted a demand for repayment by the Company of certain investment proceeds received by the Company in its capacity as an investor in TAPD, Inc. (more commonly known as “Frank”). JPMC seeks such repayment pursuant to certain provisions in the existing Support Agreement between JPMC and the Company that was entered into in connection with JPMC's acquisition of Frank. JPMC has alleged fraud on the part of certain former Frank executives regarding the quantity and quality of its customer accounts. The Company is not at fault, however is pursuing a settlement agreement with JPMC.

On March 30, 2022, Joseph Robinson, derivatively on behalf of Chegg, filed a shareholder derivative complaint against Chegg and certain of its current and former directors and officers in the United States District Court for the Northern District of California, alleging violations of securities laws and breaches of fiduciary duties. On February 22, 2023, Plaintiff filed an Amended Shareholder Derivative Complaint. This matter has been consolidated with Choi, below, and both matters are stayed. The Company disputes these claims and intends to vigorously defend itself in this matter.

On January 12, 2022, Rak Joon Choi, derivatively on behalf of Chegg, filed a shareholder derivative complaint against Chegg and certain of its current and former directors and officers in the United States District Court for the Northern District of California, alleging violations of securities laws, breaches of fiduciary duties, unjust enrichment, abuse of control, gross mismanagement, and waste of corporate assets. On February 22, 2023, Plaintiff filed an Amended Shareholder Derivative Complaint. This matter has been consolidated with Robinson, above, and both matters are stayed. The Company disputes these claims and intends to vigorously defend itself in this matter.

On December 22, 2021, Steven Leventhal, individually and on behalf of all others similarly situated, filed a purported securities fraud class action on behalf of all purchasers of Chegg common stock between May 5, 2020 and November 1, 2021, inclusive, against Chegg and certain of its current and former officers in the United States District Court for the Northern District of California (Case No. 5:21-cv-09953), alleging that Chegg and several of its officers made materially false and misleading statements in violation of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 as amended (the Exchange Act). On September 7, 2022, KBC Asset Management and The Pompano Beach Police & Firefighters Retirement System were appointed as lead plaintiff in the case. On December 8, 2022, Plaintiff filed his Amended Complaint seeking unspecified compensatory damages, costs, and expenses, including counsel and expert fees. On September 26, 2024, the parties participated in an in-person mediation and reached a settlement in principle to pay $55.0 million wherein the Company denies any and all allegations of fault, liability, wrongdoing, or damages. On November 6, 2024, Plaintiffs filed a motion for preliminary approval of the settlement. The Court held a final approval hearing on April 24, 2025. The estimated contingent liability for the loss contingency recorded was $55.0 million as of March 31, 2025 and was included within accrued liabilities on our condensed consolidated balance sheets. The same amount was recorded for expected insurance loss recoveries, which is included within other current assets on our condensed consolidated balance sheets.

On September 13, 2021, Pearson Education, Inc. (Pearson) filed a complaint captioned Pearson Education, Inc. v. Chegg, Inc. (Pearson Complaint) in the United States District Court for the District of New Jersey against the Company (Case 2:21-cv-16866), alleging infringement of Pearson’s registered copyrights and exclusive rights under copyright in violation of the United States Copyright Act. Pearson is seeking injunctive relief, monetary damages, costs, and attorneys’ fees. The Company filed its answer to the Pearson Complaint on November 19, 2021. Pearson’s June 29, 2022 Motion for Leave to File Amended Complaint seeking to add Bedford, Freeman & Worth Publishing Group, LLC d/b/a Macmillan Learning as a plaintiff was denied. Pearson filed an Amended Complaint on May 10, 2023, and the Company filed an amended answer on June 7, 2023. Chegg and Pearson have resolved this litigation. Pursuant to the terms of the parties' confidential settlement, the Court dismissed the case with prejudice on December 20, 2024. While the terms of the settlement are confidential, Chegg’s decision to settle the lawsuit was driven by the expense, burden and uncertainty of ongoing protracted litigation.

On June 18, 2020, we received a Civil Investigative Demand (CID) from the Federal Trade Commission (FTC) regarding certain alleged deceptive or unfair acts or practices related to consumer privacy and/or data security. On October 31, 2022, the FTC published the parties’ agreed-upon consent order regarding Chegg’s privacy and data security practices. On January 27, 2023, the FTC finalized its order (Final Order) requiring Chegg to implement a comprehensive information security program, limit the data the Company can collect and retain, offer users multi factor authentication to secure their accounts, and allow users to request access to and delete their data. We are currently cooperating with the FTC on an investigation as to whether we have violated certain terms of the Final Order.

We record a contingent liability for loss contingencies related to legal matters when a loss is both probable and reasonably estimable. Additionally, we record an insurance loss recovery up to the recognized loss contingency when realization is probable. Related to the above matters, as of March 31, 2025, the net impact of contingent liabilities less the related insurance loss recovery is $7.0 million. For those matters upon which we have sufficient insurance coverage, we have recorded contingent liabilities within accrued liabilities and the loss recovery from insurance within other current assets on our
condensed consolidated balance sheets. We are not aware of any other pending legal matters or claims, individually or in the aggregate, which are expected to have a material adverse impact on our consolidated financial position, results of operations, or cash flows. Our analysis of whether a claim will proceed to litigation cannot be predicted with certainty, nor can the results of litigation be predicted with certainty. Nevertheless, defending any of these actions, regardless of the outcome, may be costly, time consuming, distract management personnel and have a negative effect on our business. In the ordinary course of business and for certain of the above matters, we are actively pursuing all avenues and strategies to resolve these matters, including available legal remedies, remediation and settlement negotiations with the parties. An adverse outcome in any of these actions, including a judgment or settlement, may cause a material adverse effect on our future business, operating results or financial condition.
v3.25.1
Guarantees and Indemnifications
 3 Months Ended
Mar. 31, 2025
Guarantees And Indemnifications [Abstract]  
Guarantees and Indemnifications Guarantees and Indemnifications
We have agreed to indemnify our directors and officers for certain events or occurrences, subject to certain limits, while such persons are or were serving at our request in such capacity. We may terminate the indemnification agreements with these persons upon termination of employment, but termination will not affect claims for indemnification related to events occurring prior to the effective date of termination. We have a directors’ and officers’ insurance policy that covers our potential exposure up to the limits of our insurance coverage. In addition, we also have other indemnification agreements with various vendors against certain claims, liabilities, losses, and damages. The maximum amount of potential future indemnification is unlimited.

We believe the fair value of these indemnification agreements is immaterial. We have not recorded any liabilities for these agreements as of March 31, 2025.
v3.25.1
Stockholders' Equity
 3 Months Ended
Mar. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Stockholders' Equity Stockholders' Equity
Share Repurchases

During the three months ended March 31, 2025, we had no cash repurchases of our common stock.

During the year ended December 31, 2024, we repurchased 2,115,952 shares of our common stock related to the final delivery of our November 2023 accelerated share repurchase (ASR) agreement. The November 2023 ASR settled, and we were not required to make any additional cash payments or delivery of common stock to the financial institution upon settlement.

Securities Repurchase Program

In November 2024, our board of directors approved a $300.0 million increase to our existing securities repurchase program authorizing the repurchase of our common stock and/or convertible notes, through open market purchases, block trades, and/or privately negotiated transactions or pursuant to Rule 10b5-1 plans, in compliance with applicable securities laws and other legal requirements. The timing, volume, and nature of the repurchases will be determined by management based on the capital needs of the business, market conditions, applicable legal requirements, alternative investment opportunities, and other factors. As of March 31, 2025, we had $150.1 million remaining under the securities repurchase program, which has no expiration date and will continue until otherwise suspended, terminated or modified at any time for any reason by our board of directors.

Share-based Compensation Expense

The following table presents total share-based compensation expense recorded (in thousands):
 Three Months Ended
March 31,
 20252024
Cost of revenues$238 $513 
Research and development3,212 9,209 
Sales and marketing1,061 2,140 
General and administrative6,746 17,427 
Total share-based compensation expense$11,257 $29,289 

During the three months ended March 31, 2025 and 2024, we capitalized share-based compensation expense of $0.4 million and $1.3 million, respectively. As of March 31, 2025, total unrecognized share-based compensation expense was
approximately $33.9 million, which is expected to be recognized over the remaining weighted-average vesting period of approximately 1.4 years.

The following table presents activity for outstanding RSUs and PSUs:
 RSUs and PSUs Outstanding
 Shares OutstandingWeighted Average Grant Date Fair Value
Balance at December 31, 20247,386,965 $10.58 
Granted6,100,000 1.50 
Released(862,212)14.02 
Forfeited(770,167)26.69 
Balance at March 31, 202511,854,586 $4.58 
v3.25.1
Restructuring Charges
 3 Months Ended
Mar. 31, 2025
Restructuring and Related Activities [Abstract]  
Restructuring Charges Restructuring Charges
November 2024 Restructuring Plan

In November 2024, we announced a workforce reduction that resulted in a management approved restructuring plan. As of March 31, 2025, we recorded $17.2 million of cumulative restructuring charges, primarily related to one-time employee termination benefits, which were classified on our condensed consolidated statement of operations based on employees' job function. The restructuring liability is included within accrued liabilities on our condensed consolidated balance sheets. The total amount of restructuring charges have been recorded and we expect the plan to be substantially completed by the end of the third quarter of fiscal 2025.

The following table presents a reconciliation of the beginning and ending restructuring liability balance (in thousands):
Three Months Ended
March 31, 2025
Beginning balance
$3,915 
Restructuring charges
2,595 
Restructuring payments
(4,963)
Ending balance
$1,547 

June 2024 Restructuring Plan

In June 2024, we announced a workforce reduction that resulted in a management approved restructuring plan. As of March 31, 2025, we recorded $10.3 million of cumulative restructuring charges, primarily related to other associated costs. The restructuring liability is included within accrued liabilities on our condensed consolidated balance sheets. The total amount of restructuring charges have been recorded and we expect the plan to be substantially completed by the end of the second quarter of fiscal 2025.

The following table presents a reconciliation of the beginning and ending restructuring liability balance (in thousands):
Three Months Ended
March 31, 2025
Beginning balance
$3,395 
Restructuring charges
325 
Restructuring payments
(3,223)
Ending balance
$497 
v3.25.1
Segment Information
 3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
Segment Information Segment Information
Our chief operating decision maker is our Chief Executive Officer who makes resource allocation decisions and reviews financial information presented on a consolidated basis. Accordingly, we have determined that we have a single operating and reportable segment and operating unit structure.

Our chief operating decision maker uses net loss in assessing performance and determining how to allocate resources and is regularly provided with cost of revenues, paid marketing expenses, and consolidated operating expenses when reviewing financial information as part of the annual budgeting and forecasting process as well as the review over quarterly budget to actual variances.

The following table presents information about our significant segment expenses and includes a reconciliation to net loss (in thousands):
Three Months Ended
March 31,
20252024
Net revenues$121,387 $174,350 
Less:
Cost of revenues53,973 46,497 
Research and development29,428 44,435 
Paid marketing expenses(1)
16,379 16,335 
Other sales and marketing(2)
9,235 14,040 
General and administrative39,374 55,534 
Impairment expense2,000 — 
Total segment expenses150,389 176,841 
Other segment items(3)
11,518 1,071 
Net loss$(17,484)$(1,420)
_____________________________________________________
(1)Paid marketing expenses consist primarily of online advertising and marketing promotional expenditures.
(2)Other sales and marketing primarily consists of employee related expenses, including share-based compensation expense, and depreciation and amortization expenses.
(3)Other segment items consist of interest expense, other income, and provision for income taxes.

We derive our revenues from our Subscription Services and Skills and Other product lines. Our Subscription Services include Chegg Study Pack, Chegg Study, Chegg Writing, Chegg Math, and Busuu. Our Skills and Other product line includes revenues from Chegg Skills, advertising services, content licensing, print textbooks and eTextbooks.

The following table presents our total net revenues for our Subscription Services and Skills and Other product lines (in thousands):
Three Months Ended
March 31,
20252024
Subscription Services$107,566 $154,051 
Skills and Other13,821 20,299 
Total net revenues$121,387 $174,350 

The following table presents our total net revenues by geographic area (in thousands):
Three Months Ended
March 31,
20252024
United States$105,497 $152,131 
International15,890 22,219 
Total net revenues$121,387 $174,350 
The following table presents our long-lived assets by geographic area (in thousands):
March 31, 2025December 31, 2024
United States$145,539 $172,483 
International20,911 20,421 
Total long-lived assets$166,450 $192,904 
v3.25.1
Subsequent Events
 3 Months Ended
Mar. 31, 2025
Subsequent Events [Abstract]  
Subsequent Events Subsequent Events
May 2025 Restructuring Plan

In May 2025, we announced a restructuring plan that includes a reduction of our global workforce as well as other actions to streamline our operations. 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 one-time employee termination benefits, impairment of lease related assets, and other related costs. We expect that substantially all of these charges will be incurred by the fourth quarter of 2025, with approximately $24 million to $28 million by the second quarter of 2025. The accounting for the May 2025 restructuring plan is in process as of the issuance date of our condensed consolidated financial statements and therefore we are unable to make any additional disclosures.
v3.25.1
Pay vs Performance Disclosure - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Pay vs Performance Disclosure    
Net loss $ (17,484) $ (1,420)
v3.25.1
Insider Trading Arrangements
 3 Months Ended
Mar. 31, 2025
shares
Trading Arrangements, by Individual  
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
Renee Budig [Member]  
Trading Arrangements, by Individual  
Material Terms of Trading Arrangement
The adoption or termination of contracts, instructions or written plans for the purchase or sale of our securities by our Section 16 officers and directors for the three months ended March 31, 2025, each of which is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) under the Exchange Act ("Rule 10b5-1 Plan"), were as follows:
NameTitleAction
Date Adopted
Expiration Date
Aggregate # of Securities to be Purchased/Sold
Renee Budig(1)
DirectorAdoptionMarch 6, 2025July 7, 202527,973
(1) Ms. Budig entered into a Rule 10b5-1 Plan on March 6, 2025 which provides for the potential sale of up to 27,973 shares of the Company's common stock. The plan expires on July 7, 2025, or upon the earlier completion of all authorized transactions under the plan.
Name Ms. Budig
Title Director
Rule 10b5-1 Arrangement Adopted true
Adoption Date March 6, 2025
Expiration Date July 7, 2025
Arrangement Duration 123 days
Aggregate Available 27,973
v3.25.1
Background and Basis of Presentation (Policies)
 3 Months Ended
Mar. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Basis of Presentation
Basis of Presentation

The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“GAAP”) and applicable rules and regulations of the U.S. Securities and Exchange Commission (“SEC”) regarding interim financial reporting. The condensed consolidated financial statements include the results of Chegg, Inc. and its wholly-owned subsidiaries. Significant intercompany balances and transactions have been eliminated. In the opinion of management, the accompanying unaudited condensed consolidated financial statements contain all adjustments, including normal recurring adjustments, necessary to present fairly our financial position as of March 31, 2025 and our results of operations, results of comprehensive loss, stockholders' equity, and cash flows for the three months ended March 31, 2025 and 2024. Our results of operations, results of comprehensive loss, stockholders' equity, and cash flows for the three months ended March 31, 2025 are not necessarily indicative of the results to be expected for the full year.
We have a single operating and reportable segment and operating unit structure. The condensed consolidated financial statements and related financial information should be read in conjunction with the audited consolidated financial statements and the related notes thereto that are included in our Annual Report on Form 10-K for the year ended December 31, 2024 (the Annual Report on Form 10-K) filed with the SEC.
Consolidation
The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“GAAP”) and applicable rules and regulations of the U.S. Securities and Exchange Commission (“SEC”) regarding interim financial reporting. The condensed consolidated financial statements include the results of Chegg, Inc. and its wholly-owned subsidiaries. Significant intercompany balances and transactions have been eliminated. In the opinion of management, the accompanying unaudited condensed consolidated financial statements contain all adjustments, including normal recurring adjustments, necessary to present fairly our financial position as of March 31, 2025 and our results of operations, results of comprehensive loss, stockholders' equity, and cash flows for the three months ended March 31, 2025 and 2024. Our results of operations, results of comprehensive loss, stockholders' equity, and cash flows for the three months ended March 31, 2025 are not necessarily indicative of the results to be expected for the full year.
Revenue Recognition and Deferred Revenue
Revenue Recognition and Deferred Revenue

Revenues from content licensing are recognized upon fulfillment.
Use of Estimates
Use of Estimates

The preparation of financial statements in conformity with generally accepted accounting principles in the United States (U.S. GAAP) requires management to make estimates, judgments, and assumptions that affect the reported amounts of assets and liabilities; the disclosure of contingent liabilities at the date of the financial statements; and the reported amounts of revenues and expenses during the reporting periods. We base our estimates on historical experience, knowledge of current business conditions, and various other factors we believe to be reasonable under the circumstances. These estimates are based on management’s knowledge about current events and expectations about actions we may undertake in the future. Actual results could differ from these estimates, and such differences could be material to our financial position and results of operations. There have been no material changes in our use of estimates during the three months ended March 31, 2025 as compared to the use of estimates disclosed in Part II, Item 8 “Consolidated Financial Statements and Supplementary Data” contained in our Annual Report on Form 10-K for the year ended December 31, 2024.
Reclassification of Prior Period Presentation
Reclassification of Prior Period Presentation

In order to conform with current period presentation, $1.0 million of deferred tax assets have been reclassified from deferred tax assets to other assets on our condensed consolidated balance sheet as of December 31, 2024. This change in presentation does not affect previously reported results.
Recent Accounting Pronouncements
Recent Accounting Pronouncements

Recently Issued Accounting Pronouncements Not Yet Adopted

In November 2024, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2024-04, Debt—Debt with Conversion and Other Options. ASU 2024-04 improves the relevance and consistency in application of the induced conversion guidance requirements in Accounting Standards Codification (ASC) 470-20—Debt. Early adoption is permitted, and the guidance can be applied on either a prospective or retrospective basis. The guidance is effective for annual periods beginning after December 15, 2025 and interim periods within those annual periods. We did not early adopt ASU 2024-04 and we are currently in the process of evaluating the impact of this guidance.

In November 2024, the Financial Accounting Standards Board (FASB) issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures. ASU 2024-03 requires disclosure of specified information about certain costs and expenses in the notes to financial statements. Early adoption is permitted, and the guidance will be applied prospectively with the option to apply retrospectively. The guidance is effective for annual periods beginning after December 15, 2026 and interim periods beginning after December 15, 2027. We did not early adopt ASU 2024-03 and we are currently in the process of evaluating the impact of this guidance.

In March 2024, the FASB issued ASU 2024-02, Codification Improvements—Amendments to Remove References to the Concepts Statements. ASU 2024-02 removes various references to the FASB’s Concepts Statements from the FASB’s Accounting Standards Codification. Early adoption is permitted, and the guidance will be applied prospectively with the option to apply retrospectively. The guidance is effective for annual periods beginning after December 15, 2024. We did not early adopt ASU 2024-02 and do not believe it will have a significant impact on our financial statements, however, we are currently in the process of evaluating the impact.

In December 2023, the FASB issued ASU 2023-09, Improvements to Income Tax Disclosures. ASU 2023-09 requires disaggregated information about our effective tax rate reconciliation as well as information on income taxes paid that meet a quantitative threshold. Early adoption is permitted, and the guidance will be applied prospectively with the option to apply retrospectively. The guidance is effective for annual periods beginning after December 15, 2024. We did not early adopt ASU 2023-09 and we are currently in the process of evaluating the impact of this guidance.

Recently Adopted Accounting Pronouncements

In November 2023, the FASB issued ASU 2023-07, Improvements to Reportable Segment Disclosures. ASU 2023-07 enhances current interim and annual reportable segment disclosures and requires additional disclosures about significant segment expenses. Public entities with a single reportable segment are required to apply the disclosure requirements in ASU 2023-07, as well as all existing segment disclosures and reconciliation requirements in ASC 280—Segment Reporting on an interim and annual basis. In the first quarter of 2025, we adopted ASU 2023-07 on a retrospective basis for quarterly periods starting with this Quarterly Report on Form 10-Q. For further information on the additional reportable segment disclosures, refer to “Note 12, Segment Information.”
v3.25.1
Revenues (Tables)
 3 Months Ended
Mar. 31, 2025
Revenue from Contract with Customer [Abstract]  
Schedule of Disaggregation of Revenue
The following tables present our total net revenues for the periods shown disaggregated for our Subscription Services and Skills and Other product lines (in thousands, except percentages):
 Three Months Ended
March 31,		Change
 20252024$%
Subscription Services$107,566 $154,051 $(46,485)(30)%
Skills and Other13,821 20,299 (6,478)(32)
Total net revenues$121,387 $174,350 $(52,963)(30)
Schedule of Accounts Receivable
The following table presents our accounts receivable, net, contract assets and deferred revenue balances (in thousands, except percentages):
 Change
 March 31,
2025		December 31, 2024$%
Accounts receivable, net$28,549 $23,641 $4,908 21 %
Contract assets6,771 7,027 (256)(4)
Deferred revenue45,150 39,217 5,933 15 
v3.25.1
Net Loss Per Share (Tables)
 3 Months Ended
Mar. 31, 2025
Earnings Per Share [Abstract]  
Schedule of Net (Loss) Income Per Share, Basic and Diluted
The following table presents the computation of basic and diluted net loss per share (in thousands, except per share amounts):
Three Months Ended
March 31,
20252024
Basic
Numerator:
Net loss
$(17,484)$(1,420)
Denominator:
Weighted average shares used to compute net loss per share, basic and diluted
105,159 102,343 
Net loss per share, basic and diluted
$(0.17)$(0.01)
Schedule of Antidilutive Securities Excluded from Computation of Net (Loss) Income Per Share
The following table presents potential weighted-average shares of common stock outstanding that were excluded from the computation of diluted net loss per share because including them would have been anti-dilutive (in thousands):
Three Months Ended
March 31,
20252024
Shares related to stock plan activity10,091 6,992 
Shares related to convertible senior notes6,620 9,234 
Total common stock equivalents16,711 16,226 
v3.25.1
Cash and Cash Equivalents, Investments and Fair Value Measurements (Tables)
 3 Months Ended
Mar. 31, 2025
Cash and Cash Equivalents [Abstract]  
Schedule of Cash, Cash Equivalents and Investments
The following tables present our cash and cash equivalents, and investments’ fair value level classification, adjusted cost, unrealized gain, unrealized loss and fair value as of March 31, 2025 and December 31, 2024 (in thousands):
 March 31, 2025
 Fair Value LevelAdjusted CostUnrealized GainUnrealized LossFair Value
Cash and cash equivalents:   
Cash$26,863 $— $— $26,863 
Money market fundsLevel 117,242 — — 17,242 
Total cash and cash equivalents$44,105 $— $— $44,105 
Short-term investments:   
Corporate debt securitiesLevel 2$44,074 $114 $— $44,188 
Long-term investments:   
Corporate debt securitiesLevel 2$37,882 $211 $— $38,093 
Total long-term investments$37,882 $211 $— $38,093 

 December 31, 2024
 Fair Value LevelAdjusted CostUnrealized GainUnrealized LossFair Value
Cash and cash equivalents:   
Cash$28,716 $— $— $28,716 
Money market fundsLevel 1132,759 — — 132,759 
Total cash and cash equivalents$161,475 $— $— $161,475 
Short-term investments:   
Corporate debt securitiesLevel 2$113,968 $157 $(29)$114,096 
U.S. treasury securitiesLevel 140,162 — (9)40,153 
Total short-term investments$154,130 $157 $(38)$154,249 
Long-term investments:   
Corporate debt securitiesLevel 2$133,516 $736 $(78)$134,174 
U.S. treasury securitiesLevel 178,405 97 (26)78,476 
Total long-term investments$211,921 $833 $(104)$212,650 
Schedule of Available-for-sale Securities Reconciliation
The following table presents our cash equivalents and investments' adjusted cost and fair value by contractual maturity as of March 31, 2025 (in thousands):
 Adjusted CostFair Value
Due within one year$44,074 $44,188 
Due after one year through three years37,882 38,093 
Investments not due at a single maturity date17,242 17,242 
Total$99,198 $99,523 
v3.25.1
Property and Equipment, Net (Tables)
 3 Months Ended
Mar. 31, 2025
Property, Plant and Equipment [Abstract]  
Schedule of Property and Equipment, Net
Property and equipment, net consisted of the following (in thousands):
March 31, 2025December 31, 2024
Content$339,227 $381,629 
Software
51,003 67,612 
Leasehold improvements8,235 8,207 
Furniture and fixtures3,337 3,346 
Computer and equipment2,985 2,953 
Property and equipment404,787 463,747 
Less accumulated depreciation(259,816)(293,099)
Property and equipment, net$144,971 $170,648 
v3.25.1
Balance Sheet Details (Tables)
 3 Months Ended
Mar. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Other Current Assets
Other current assets consisted of the following (in thousands):
March 31, 2025December 31, 2024
Insurance loss recovery$55,000 $55,000 
Restricted cash1,036 956 
Other22,359 25,138 
Other current assets$78,395 $81,094 
Schedule of Accrued Liabilities
Accrued liabilities consisted of the following (in thousands):
March 31, 2025December 31, 2024
Loss contingency$62,000 $62,000 
Taxes payable11,446 11,319 
Current operating lease liabilities4,496 5,625 
Restructuring liability2,044 7,310 
Other29,084 29,106 
Accrued liabilities$109,070 $115,360 
v3.25.1
Convertible Senior Notes (Tables)
 3 Months Ended
Mar. 31, 2025
Debt Disclosure [Abstract]  
Schedule of Debt
The following table presents the net carrying amount of the notes (in thousands):

March 31, 2025December 31, 2024
2026 Notes2025 Notes2026 Notes2025 Notes
Principal$62,710 $— $127,906 $358,914 
Unamortized issuance costs(235)— (562)(309)
Net carrying amount$62,475 $— $127,344 $358,605 
Schedule of Interest Expense Recognized
The following table presents the total interest expense recognized related to the notes (in thousands):
Three Months Ended March 31,
20252024
2026 notes:
Contractual interest expense$— $— 
Amortization of issuance costs69 161 
Total 2026 notes interest expense$69 $161 
2025 notes:
Contractual interest expense$90 $109 
Amortization of issuance costs308 380 
Total 2025 notes interest expense$398 $489 
v3.25.1
Stockholders' Equity (Tables)
 3 Months Ended
Mar. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock-Based Compensation Expense for Employees and Non-Employees
The following table presents total share-based compensation expense recorded (in thousands):
 Three Months Ended
March 31,
 20252024
Cost of revenues$238 $513 
Research and development3,212 9,209 
Sales and marketing1,061 2,140 
General and administrative6,746 17,427 
Total share-based compensation expense$11,257 $29,289 
Schedule of Restricted Stock Unit Activity
The following table presents activity for outstanding RSUs and PSUs:
 RSUs and PSUs Outstanding
 Shares OutstandingWeighted Average Grant Date Fair Value
Balance at December 31, 20247,386,965 $10.58 
Granted6,100,000 1.50 
Released(862,212)14.02 
Forfeited(770,167)26.69 
Balance at March 31, 202511,854,586 $4.58 
v3.25.1
Restructuring Charges (Tables)
 3 Months Ended
Mar. 31, 2025
Restructuring and Related Activities [Abstract]  
Schedule of Changes in Restructuring Liability Balance
The following table presents a reconciliation of the beginning and ending restructuring liability balance (in thousands):
Three Months Ended
March 31, 2025
Beginning balance
$3,915 
Restructuring charges
2,595 
Restructuring payments
(4,963)
Ending balance
$1,547 
The following table presents a reconciliation of the beginning and ending restructuring liability balance (in thousands):
Three Months Ended
March 31, 2025
Beginning balance
$3,395 
Restructuring charges
325 
Restructuring payments
(3,223)
Ending balance
$497 
v3.25.1
Segment Information (Tables)
 3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment
The following table presents information about our significant segment expenses and includes a reconciliation to net loss (in thousands):
Three Months Ended
March 31,
20252024
Net revenues$121,387 $174,350 
Less:
Cost of revenues53,973 46,497 
Research and development29,428 44,435 
Paid marketing expenses(1)
16,379 16,335 
Other sales and marketing(2)
9,235 14,040 
General and administrative39,374 55,534 
Impairment expense2,000 — 
Total segment expenses150,389 176,841 
Other segment items(3)
11,518 1,071 
Net loss$(17,484)$(1,420)
_____________________________________________________
(1)Paid marketing expenses consist primarily of online advertising and marketing promotional expenditures.
(2)Other sales and marketing primarily consists of employee related expenses, including share-based compensation expense, and depreciation and amortization expenses.
(3)Other segment items consist of interest expense, other income, and provision for income taxes.
Schedule of Revenue from External Customers by Products and Services
The following table presents our total net revenues for our Subscription Services and Skills and Other product lines (in thousands):
Three Months Ended
March 31,
20252024
Subscription Services$107,566 $154,051 
Skills and Other13,821 20,299 
Total net revenues$121,387 $174,350 
Schedule of Revenue from External Customers by Geographic Areas
The following table presents our total net revenues by geographic area (in thousands):
Three Months Ended
March 31,
20252024
United States$105,497 $152,131 
International15,890 22,219 
Total net revenues$121,387 $174,350 
The following table presents our long-lived assets by geographic area (in thousands):
March 31, 2025December 31, 2024
United States$145,539 $172,483 
International20,911 20,421 
Total long-lived assets$166,450 $192,904 
v3.25.1
Background and Basis of Presentation (Details)
$ in Millions
 3 Months Ended
Mar. 31, 2025
USD ($)
segment
Debt Instrument [Line Items]  
Number of operating segments | segment 1
Number of reportable segments | segment 1
Leases not yet commenced | $ $ 1.3
Leases not yet commenced, term 2 years
Revision of Prior Period, Reclassification, Adjustment  
Debt Instrument [Line Items]  
Deferred tax assets | $ $ 1.0
v3.25.1
Revenues - Disaggregation of Revenue (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Disaggregation of Revenue [Line Items]    
Total net revenues $ 121,387 $ 174,350
Change, Total net revenues $ (52,963)  
Change, Total net revenues, percent (30.00%)  
Subscription Services    
Disaggregation of Revenue [Line Items]    
Total net revenues $ 107,566 154,051
Change, Total net revenues $ (46,485)  
Change, Total net revenues, percent (30.00%)  
Skills and Other    
Disaggregation of Revenue [Line Items]    
Total net revenues $ 13,821 $ 20,299
Change, Total net revenues $ (6,478)  
Change, Total net revenues, percent (32.00%)  
v3.25.1
Revenues - Narrative (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Revenue from Contract with Customer [Abstract]    
Contract with customer, liability, revenue recognized $ 27,200 $ 37,500
Increase in accounts receivable, net $ 4,908  
Increase in accounts receivable, net, percent 21.00%  
Increase in deferred revenue $ 5,933  
Increase in deferred revenue, percent 15.00%  
v3.25.1
Revenues - Contract Balances (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Dec. 31, 2024
Revenue from Contract with Customer [Abstract]    
Accounts receivable, net $ 28,549 $ 23,641
Change, accounts receivable, net $ 4,908  
Change, accounts receivable, net, percent 21.00%  
Contract assets $ 6,771 7,027
Change in contract assets $ (256)  
Change in contract assets, percent (4.00%)  
Deferred revenue $ 45,150 $ 39,217
Change in deferred revenue $ 5,933  
Change in deferred revenue, percent 15.00%  
v3.25.1
Net Loss Per Share - Computation of Basic and Diluted Net (Loss) Income Per Share (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Numerator:    
Net loss $ (17,484) $ (1,420)
Denominator:    
Weighted average shares used to compute net loss per share, basic (in shares) 105,159 102,343
Weighted average shares used to compute net loss per share, diluted (in shares) 105,159 102,343
Net loss per share, basic, (in dollars per share) $ (0.17) $ (0.01)
Net loss per share, diluted (in dollars per share) $ (0.17) $ (0.01)
v3.25.1
Net Loss Per Share - Shares Excluded From Computation Of Diluted Net (Loss) Income Per Share (Details) - shares
shares in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]    
Total common stock equivalents (in shares) 16,711 16,226
Shares related to stock plan activity    
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]    
Total common stock equivalents (in shares) 10,091 6,992
Shares related to convertible senior notes    
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]    
Total common stock equivalents (in shares) 6,620 9,234
v3.25.1
Cash and Cash Equivalents, Investments and Fair Value Measurements - Schedule of Available For Sale Securities (Details) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Mar. 31, 2024
Debt Securities, Available-for-sale [Line Items]      
Cash $ 44,105 $ 161,475 $ 143,747
Adjusted Cost 99,198    
Fair Value 99,523    
Cash      
Debt Securities, Available-for-sale [Line Items]      
Cash 26,863 28,716  
Short-term investments:      
Debt Securities, Available-for-sale [Line Items]      
Adjusted Cost   154,130  
Unrealized Gain   157  
Unrealized Loss   (38)  
Fair Value   154,249  
Long-term investments:      
Debt Securities, Available-for-sale [Line Items]      
Adjusted Cost 37,882 211,921  
Unrealized Gain 211 833  
Unrealized Loss 0 (104)  
Fair Value 38,093 212,650  
Level 1 | Money market funds      
Debt Securities, Available-for-sale [Line Items]      
Cash 17,242 132,759  
Corporate debt securities | Level 2 | Short-term investments:      
Debt Securities, Available-for-sale [Line Items]      
Adjusted Cost 44,074 113,968  
Unrealized Gain 114 157  
Unrealized Loss 0 (29)  
Fair Value 44,188 114,096  
Corporate debt securities | Level 2 | Long-term investments:      
Debt Securities, Available-for-sale [Line Items]      
Adjusted Cost 37,882 133,516  
Unrealized Gain 211 736  
Unrealized Loss 0 (78)  
Fair Value $ 38,093 134,174  
U.S. treasury securities | Level 1 | Short-term investments:      
Debt Securities, Available-for-sale [Line Items]      
Adjusted Cost   40,162  
Unrealized Gain   0  
Unrealized Loss   (9)  
Fair Value   40,153  
U.S. treasury securities | Level 1 | Long-term investments:      
Debt Securities, Available-for-sale [Line Items]      
Adjusted Cost   78,405  
Unrealized Gain   97  
Unrealized Loss   (26)  
Fair Value   $ 78,476  
v3.25.1
Cash and Cash Equivalents, Investments and Fair Value Measurements - Contractual Maturity (Details)
$ in Thousands
Mar. 31, 2025
USD ($)
Adjusted Cost  
Due within one year $ 44,074
Due after one year through three years 37,882
Investments not due at a single maturity date 17,242
Adjusted Cost 99,198
Fair Value  
Due within one year 44,188
Due after one year through three years 38,093
Investments not due at a single maturity date 17,242
Fair Value $ 99,523
v3.25.1
Cash and Cash Equivalents, Investments and Fair Value Measurements - Strategic Investments (Details)
$ in Millions
Jul. 31, 2022
USD ($)
Knack Technologies, Inc  
Schedule of Investments [Line Items]  
Investment without readily determinable fair value $ 6.0
v3.25.1
Cash and Cash Equivalents, Investments and Fair Value Measurements - Debt (Details) - USD ($)
$ in Millions
Mar. 31, 2025
Dec. 31, 2024
Senior Notes due 2026 | Estimate of Fair Value Measurement | Senior Notes | Fair Value, Measurements, Nonrecurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Convertible senior notes $ 52.1 $ 105.8
v3.25.1
Property and Equipment, Net - Schedule of Property and Equipment, Net (Details) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Property, Plant and Equipment [Line Items]    
Property and equipment $ 404,787 $ 463,747
Less accumulated depreciation (259,816) (293,099)
Property and equipment, net 144,971 170,648
Content    
Property, Plant and Equipment [Line Items]    
Property and equipment 339,227 381,629
Software    
Property, Plant and Equipment [Line Items]    
Property and equipment 51,003 67,612
Leasehold improvements    
Property, Plant and Equipment [Line Items]    
Property and equipment 8,235 8,207
Furniture and fixtures    
Property, Plant and Equipment [Line Items]    
Property and equipment 3,337 3,346
Computer and equipment    
Property, Plant and Equipment [Line Items]    
Property and equipment $ 2,985 $ 2,953
v3.25.1
Property and Equipment, Net - Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Property, Plant and Equipment [Line Items]    
Depreciation expense $ 31.0 $ 15.7
Accelerated depreciation 16.2  
Software and Software Development Costs and Content Assets    
Property, Plant and Equipment [Line Items]    
Accelerated depreciation 18.2  
Software    
Property, Plant and Equipment [Line Items]    
Impaired assets to be disposed of by method other than sale, amount of impairment loss $ 2.0  
v3.25.1
Balance Sheet Details - Other Current Assets (Details) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]    
Insurance loss recovery $ 55,000 $ 55,000
Restricted cash 1,036 956
Other 22,359 25,138
Other current assets $ 78,395 $ 81,094
v3.25.1
Balance Sheet Details - Accrued Liabilities (Details) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]    
Loss contingency $ 62,000 $ 62,000
Taxes payable 11,446 11,319
Current operating lease liabilities 4,496 5,625
Restructuring liability 2,044 7,310
Other 29,084 29,106
Accrued liabilities $ 109,070 $ 115,360
v3.25.1
Convertible Senior Notes - Narrative (Details)
$ / shares in Units, $ in Thousands
 1 Months Ended 3 Months Ended
Mar. 15, 2025
USD ($)
Mar. 31, 2025
USD ($)
$ / shares
shares
Aug. 31, 2020
USD ($)
$ / shares
Mar. 31, 2025
USD ($)
$ / shares
shares
Mar. 31, 2024
USD ($)
Apr. 30, 2019
USD ($)
Debt Instrument [Line Items]            
Repayment of convertible senior notes       $ 416,492 $ 0  
Gain on early extinguishment of debt       7,360 $ 0  
2025 Notes | Senior Notes            
Debt Instrument [Line Items]            
Face value           $ 800,000
Interest rate, stated percentage           0.125%
Repayment of convertible senior notes $ 358,900          
Senior Notes due 2026 | Senior Notes            
Debt Instrument [Line Items]            
Face value     $ 1,000,000      
Conversion ratio     0.0092978      
Interest rate, stated percentage     0.00%      
Repayment of convertible senior notes   $ 57,400        
Conversion price (in dollars per share) | $ / shares     $ 107.55      
Extinguishment of debt, amount   65,200        
Payment for debt extinguishment or debt prepayment cost   200        
Repayments of convertible debt and extinguishment fees   57,600        
Debt instrument, repurchased amount, carrying value   64,900   $ 64,900    
Gain on early extinguishment of debt   $ 7,400        
Senior Notes due 2026 | Senior Notes | Capped Call            
Debt Instrument [Line Items]            
Conversion price (in dollars per share) | $ / shares   $ 156.44   $ 156.44    
Net proceeds     $ 103,400      
Debt instrument, convertible (in shares) | shares   9,297,800   9,297,800    
v3.25.1
Convertible Senior Notes - Schedule of Net Carrying Amount (Details) - Senior Notes - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
2026 Notes    
Debt Instrument [Line Items]    
Principal $ 62,710 $ 127,906
Unamortized issuance costs (235) (562)
Net carrying amount 62,475 127,344
2025 Notes    
Debt Instrument [Line Items]    
Principal 0 358,914
Unamortized issuance costs 0 (309)
Net carrying amount $ 0 $ 358,605
v3.25.1
Convertible Senior Notes - Schedule of Interest Expense Recognized (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Debt Instrument [Line Items]    
Amortization of issuance costs $ 377 $ 541
Senior Notes | 2026 Notes    
Debt Instrument [Line Items]    
Contractual interest expense 0 0
Amortization of issuance costs 69 161
Total interest expense 69 161
Senior Notes | 2025 Notes    
Debt Instrument [Line Items]    
Contractual interest expense 90 109
Amortization of issuance costs 308 380
Total interest expense $ 398 $ 489
v3.25.1
Commitments and Contingencies (Details) - USD ($)
$ in Millions
Sep. 26, 2024
Mar. 31, 2025
Loss Contingencies [Line Items]    
Loss contingency   $ 7.0
Steven Leventhal | Settled Litigation    
Loss Contingencies [Line Items]    
Litigation settlement, amount awarded to other party $ 55.0  
Loss contingency   55.0
Loss contingency, receivable, current   $ 55.0
v3.25.1
Stockholders' Equity - Share Repurchase (Details) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Mar. 31, 2025
Dec. 31, 2024
Securities Repurchase Program    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Cash repurchases $ 0.0  
November 2023 ASRs    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Repurchases of common stock (in shares)   2,115,952
v3.25.1
Stockholders' Equity - Securities Repurchase Program (Details) - Securities Repurchase Program - USD ($)
$ in Millions
 1 Months Ended
Nov. 30, 2024
Mar. 31, 2025
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Stock repurchase program, increase of authorized amount $ 300.0  
Remaining under repurchase program   $ 150.1
v3.25.1
Stockholders' Equity - Schedule of Share-based Compensation Expense (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]    
Total share-based compensation expense $ 11,257 $ 29,289
Cost of revenues    
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]    
Total share-based compensation expense 238 513
Research and development    
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]    
Total share-based compensation expense 3,212 9,209
Sales and marketing    
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]    
Total share-based compensation expense 1,061 2,140
General and administrative    
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]    
Total share-based compensation expense $ 6,746 $ 17,427
v3.25.1
Stockholders' Equity - Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Share-based compensation expense capitalized $ 0.4 $ 1.3
RSUs and PSUs    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Unrecognized compensation costs related to restricted stock units $ 33.9  
Weighted-average vesting period 1 year 4 months 24 days  
v3.25.1
Stockholders' Equity - Schedule of RSU and PSU Activity (Details) - RSUs and PSUs
 3 Months Ended
Mar. 31, 2025
$ / shares
shares
Shares Outstanding  
Beginning balance (in shares) | shares 7,386,965
Granted (in shares) | shares 6,100,000
Released (in shares) | shares (862,212)
Forfeited (in shares) | shares (770,167)
Ending balance (in shares) | shares 11,854,586
Weighted Average Grant Date Fair Value  
Beginning balance (in dollars per share) | $ / shares $ 10.58
Granted (in dollars per share) | $ / shares 1.50
Released (in dollars per share) | $ / shares 14.02
Forfeited (in dollars per share) | $ / shares 26.69
Ending balance (in dollars per share) | $ / shares $ 4.58
v3.25.1
Restructuring Charges - Additional Information (Details) - USD ($)
$ in Thousands
 3 Months Ended 5 Months Ended 10 Months Ended
Mar. 31, 2025
Mar. 31, 2025
Mar. 31, 2025
November 2024 Restructuring Plan      
Restructuring Cost and Reserve [Line Items]      
Restructuring charges $ 2,595 $ 17,200  
June 2024 Restructuring Plan      
Restructuring Cost and Reserve [Line Items]      
Restructuring charges $ 325   $ 10,300
v3.25.1
Restructuring Charges - Schedule of Reconciliation of Changes in Restructuring Liability Balance (Details) - USD ($)
$ in Thousands
 3 Months Ended 5 Months Ended 10 Months Ended
Mar. 31, 2025
Mar. 31, 2025
Mar. 31, 2025
November 2024 Restructuring Plan      
Restructuring Reserve [Roll Forward]      
Beginning balance $ 3,915    
Restructuring charges 2,595 $ 17,200  
Restructuring payments (4,963)    
Ending balance 1,547 1,547 $ 1,547
June 2024 Restructuring Plan      
Restructuring Reserve [Roll Forward]      
Beginning balance 3,395    
Restructuring charges 325   10,300
Restructuring payments (3,223)    
Ending balance $ 497 $ 497 $ 497
v3.25.1
Segment Information - Schedule of Significant Segment Expenses (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Segment Reporting Information [Line Items]    
Net revenues $ 121,387 $ 174,350
Cost of revenues 53,973 46,497
Research and development 29,428 44,435
General and administrative 39,374 55,534
Impairment expense 2,000 0
Net loss (17,484) (1,420)
Reportable Segment    
Segment Reporting Information [Line Items]    
Net revenues 121,387 174,350
Cost of revenues 53,973 46,497
Research and development 29,428 44,435
Paid marketing expenses 16,379 16,335
Other sales and marketing 9,235 14,040
General and administrative 39,374 55,534
Impairment expense 2,000 0
Total segment expenses 150,389 176,841
Other segment items 11,518 1,071
Net loss $ (17,484) $ (1,420)
v3.25.1
Segment Information - Schedule of Revenue by Product Line and Geographic Areas (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Segment Reporting Information [Line Items]    
Net revenues $ 121,387 $ 174,350
United States    
Segment Reporting Information [Line Items]    
Net revenues 105,497 152,131
International    
Segment Reporting Information [Line Items]    
Net revenues 15,890 22,219
Subscription Services    
Segment Reporting Information [Line Items]    
Net revenues 107,566 154,051
Skills and Other    
Segment Reporting Information [Line Items]    
Net revenues $ 13,821 $ 20,299
v3.25.1
Segment Information - Schedule of Long-Lived Assets by Geographical Area (Details) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Revenues from External Customers and Long-Lived Assets [Line Items]    
Total long-lived assets $ 166,450 $ 192,904
United States    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Total long-lived assets 145,539 172,483
International    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Total long-lived assets $ 20,911 $ 20,421
v3.25.1
Subsequent Events (Details) - May 2025 Restructuring Plan - USD ($)
$ in Millions
 6 Months Ended 12 Months Ended
Jun. 30, 2025
Dec. 31, 2025
May 12, 2025
Minimum | Forecast      
Subsequent Event [Line Items]      
Payments for restructuring $ 24 $ 31  
Maximum | Forecast      
Subsequent Event [Line Items]      
Payments for restructuring $ 28 $ 35  
Subsequent Event | Minimum      
Subsequent Event [Line Items]      
Expected cost restructuring plan     $ 34
Subsequent Event | Maximum      
Subsequent Event [Line Items]      
Expected cost restructuring plan     $ 38