10-Q Filing

CHEGG, INC CIK: 1364954 Q1 2017

Filing Information

Form Type	10-Q
Accession Number	`0001364954-17-000103`
Period End Date	20170331
Filing Date	20170501
Fiscal Year	2017
Fiscal Period	Q1
XBRL Instance	chgg-20170331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 70 Income Statement 49 Cash Flow Statement 68 Comprehensive Income 10

Balance Sheet 70 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts receivable, current	`AllowanceForDoubtfulAccountsReceivableCurrent`	$436.00K	USD	Point-in-time
Allowance for doubtful accounts receivable, current	`AllowanceForDoubtfulAccountsReceivableCurrent`	$190.00K	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$41.50M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$70.29M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$77.33M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$67.03M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $190 and $436 at March 31, 2017 and December 31, 2016, respectively	`AccountsReceivableNetCurrent`	$8.79M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $190 and $436 at March 31, 2017 and December 31, 2016, respectively	`AccountsReceivableNetCurrent`	$10.45M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$8.20M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$2.58M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$16.64M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$21.01M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	400.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	400.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$111.37M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$103.92M	USD	Point-in-time
Textbook library, net	`TextbookLibraryNet`	-	USD	Point-in-time
Textbook library, net	`TextbookLibraryNet`	$2.58M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	94.24M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	91.71M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	94.24M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$36.78M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$35.30M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	91.71M	shares	Point-in-time
Goodwill	`Goodwill`	$116.24M	USD	Point-in-time
Goodwill	`Goodwill`	$116.24M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$19.34M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$20.75M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$4.70M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$4.41M	USD	Point-in-time
Total assets	`Assets`	$290.65M	USD	Point-in-time
Total assets	`Assets`	$280.98M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$5.17M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$3.26M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$14.84M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$18.11M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$44.32M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$41.01M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$62.37M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$64.33M	USD	Point-in-time
Total other long-term liabilities	`LiabilitiesNoncurrent`	$4.38M	USD	Point-in-time
Total other long-term liabilities	`LiabilitiesNoncurrent`	$4.54M	USD	Point-in-time
Total liabilities	`Liabilities`	$66.91M	USD	Point-in-time
Total liabilities	`Liabilities`	$68.71M	USD	Point-in-time
Commitments and contingencies (Note 6)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 6)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $0.001 par value 10,000,000 shares authorized, no shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.001 par value 10,000,000 shares authorized, no shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.001 par value 400,000,000 shares authorized; 94,244,990 and 91,708,839 shares issued and outstanding at March 31, 2017 and December 31, 2016, respectively	`CommonStockValue`	$92.00K	USD	Point-in-time
Common stock, $0.001 par value 400,000,000 shares authorized; 94,244,990 and 91,708,839 shares issued and outstanding at March 31, 2017 and December 31, 2016, respectively	`CommonStockValue`	$94.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$591.77M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$593.35M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-176.00K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-77.00K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-377.73M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-371.33M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$221.94M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$214.06M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$290.65M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$280.98M	USD	Point-in-time

Income Statement 49 line items

Line Item	Tag	Value	Unit	Period
Rental	`RentalRevenueNet`	-	USD	1 Quarter
Rental	`RentalRevenueNet`	$14.56M	USD	1 Quarter
Services	`SalesRevenueServicesNet`	$39.75M	USD	1 Quarter
Services	`SalesRevenueServicesNet`	$62.60M	USD	1 Quarter
Sales	`SalesRevenueGoodsNet`	$12.34M	USD	1 Quarter
Sales	`SalesRevenueGoodsNet`	-	USD	1 Quarter
Net revenues:	`SalesRevenueNet`	$66.65M	USD	1 Quarter
Net revenues:	`SalesRevenueNet`	$62.60M	USD	1 Quarter
Rental	`DirectCostsOfLeasedAndRentedPropertyOrEquipment`	$13.51M	USD	1 Quarter
Rental	`DirectCostsOfLeasedAndRentedPropertyOrEquipment`	-	USD	1 Quarter
Services	`CostOfServices`	$13.88M	USD	1 Quarter
Services	`CostOfServices`	$21.40M	USD	1 Quarter
Sales	`CostOfGoodsSold`	-	USD	1 Quarter
Sales	`CostOfGoodsSold`	$11.54M	USD	1 Quarter
Cost of revenues:	`CostOfRevenue`	$38.92M	USD	1 Quarter
Cost of revenues:	`CostOfRevenue`	$21.40M	USD	1 Quarter
Gross profit	`GrossProfit`	$41.21M	USD	1 Quarter
Gross profit	`GrossProfit`	$27.73M	USD	1 Quarter
Technology and development	`ResearchAndDevelopmentExpense`	$19.30M	USD	1 Quarter
Technology and development	`ResearchAndDevelopmentExpense`	$16.96M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$15.96M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$14.45M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$15.34M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$12.67M	USD	1 Quarter
Restructuring charges (credits)	`RestructuringCharges`	$-44.00K	USD	1 Quarter
Restructuring charges (credits)	`RestructuringCharges`	$900.00K	USD	1 Quarter
Restructuring charges (credits)	`RestructuringCharges`	$-423.00K	USD	Annual
Gain on liquidation of textbooks	`GainLossOnDispositionOfAssets1`	$1.00M	USD	1 Quarter
Gain on liquidation of textbooks	`GainLossOnDispositionOfAssets1`	$4.77M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$43.02M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$46.74M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-5.54M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-15.29M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-19.00K	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-60.00K	USD	1 Quarter
Other (expense) income, net	`OtherNonoperatingIncomeExpense`	$65.00K	USD	1 Quarter
Other (expense) income, net	`OtherNonoperatingIncomeExpense`	$-199.00K	USD	1 Quarter
Total interest expense and other (expense) income, net	`NonoperatingIncomeExpense`	$-218.00K	USD	1 Quarter
Total interest expense and other (expense) income, net	`NonoperatingIncomeExpense`	$5.00K	USD	1 Quarter
Loss before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-15.29M	USD	1 Quarter
Loss before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-5.75M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$647.00K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$400.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-6.40M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-15.69M	USD	1 Quarter
Net loss per share, basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.07	USD	1 Quarter
Net loss per share, basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.18	USD	1 Quarter
Weighted average shares used to compute net loss per share, basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	92.83M	shares	1 Quarter
Weighted average shares used to compute net loss per share, basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	89.12M	shares	1 Quarter

Cash Flow Statement 68 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-6.40M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-15.69M	USD	1 Quarter
Textbook library depreciation expense	`DepreciationTextbookLibrary`	-	USD	1 Quarter
Textbook library depreciation expense	`DepreciationTextbookLibrary`	$4.50M	USD	1 Quarter
Other depreciation and amortization expense	`OtherDepreciationAndAmortization`	$4.39M	USD	1 Quarter
Other depreciation and amortization expense	`OtherDepreciationAndAmortization`	$2.58M	USD	1 Quarter
Share-based compensation expense	`ShareBasedCompensation`	$11.27M	USD	1 Quarter
Share-based compensation expense	`ShareBasedCompensation`	$8.28M	USD	1 Quarter
Gain on liquidation of textbooks	`GainLossOnDispositionOfAssets1`	$1.00M	USD	1 Quarter
Gain on liquidation of textbooks	`GainLossOnDispositionOfAssets1`	$4.77M	USD	1 Quarter
Loss from write-offs of textbooks	`LossFromWriteOffsOfTextbooks`	$224.00K	USD	1 Quarter
Loss from write-offs of textbooks	`LossFromWriteOffsOfTextbooks`	$314.00K	USD	1 Quarter
Other non-cash items	`OtherNoncashIncomeExpense`	$-23.00K	USD	1 Quarter
Other non-cash items	`OtherNoncashIncomeExpense`	$46.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-2.16M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.95M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpensesOther`	$1.24M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpensesOther`	$16.82M	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$287.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-258.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-1.14M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-1.61M	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$3.27M	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$11.80M	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-16.76M	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-3.74M	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$260.00K	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-165.00K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$835.00K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-19.23M	USD	1 Quarter
Purchases of textbooks	`PaymentsToAcquireTextbooks`	-	USD	1 Quarter
Purchases of textbooks	`PaymentsToAcquireTextbooks`	$442.00K	USD	1 Quarter
Proceeds from liquidations of textbooks	`ProceedsFromSaleOfTextbooks`	$6.12M	USD	1 Quarter
Proceeds from liquidations of textbooks	`ProceedsFromSaleOfTextbooks`	$6.94M	USD	1 Quarter
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	-	USD	1 Quarter
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	$7.63M	USD	1 Quarter
Proceeds from sale of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$550.00K	USD	1 Quarter
Proceeds from sale of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	-	USD	1 Quarter
Maturities of marketable securities	`ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities`	-	USD	1 Quarter
Maturities of marketable securities	`ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities`	$6.24M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$4.77M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$4.80M	USD	1 Quarter
Acquisition of business	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$188.00K	USD	1 Quarter
Acquisition of business	`PaymentsToAcquireBusinessesNetOfCashAcquired`	-	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$1.99M	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$39.00K	USD	1 Quarter
Common stock issued under stock plans, net	`ProceedsFromIssuanceOfEmployeeStockPurchasePlan`	$2.76M	USD	1 Quarter
Common stock issued under stock plans, net	`ProceedsFromIssuanceOfEmployeeStockPurchasePlan`	-	USD	1 Quarter
Payment of taxes related to the net share settlement of RSUs	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$12.62M	USD	1 Quarter
Payment of taxes related to the net share settlement of RSUs	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$6.33M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-9.86M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-6.33M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-25.52M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-7.04M	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$41.50M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$70.29M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$77.33M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$67.03M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$41.50M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$70.29M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$77.33M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$67.03M	USD	Point-in-time
Interest	`InterestPaid`	$19.00K	USD	1 Quarter
Interest	`InterestPaid`	$30.00K	USD	1 Quarter
Income taxes	`IncomeTaxesPaid`	$402.00K	USD	1 Quarter
Income taxes	`IncomeTaxesPaid`	$388.00K	USD	1 Quarter
Accrued purchases of long-lived assets	`NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1`	$2.31M	USD	1 Quarter
Accrued purchases of long-lived assets	`NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1`	$2.02M	USD	1 Quarter

Comprehensive Income 10 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-6.40M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-15.69M	USD	1 Quarter
Change in unrealized gain on available for sale investments	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$33.00K	USD	1 Quarter
Change in unrealized gain on available for sale investments	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	-	USD	1 Quarter
Change in foreign currency translation adjustments, net of tax	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$35.00K	USD	1 Quarter
Change in foreign currency translation adjustments, net of tax	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$99.00K	USD	1 Quarter
Other comprehensive income	`OtherComprehensiveIncomeLossNetOfTax`	$68.00K	USD	1 Quarter
Other comprehensive income	`OtherComprehensiveIncomeLossNetOfTax`	$99.00K	USD	1 Quarter
Total comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-6.30M	USD	1 Quarter
Total comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-15.62M	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.