10-Q Filing

CHEGG, INC CIK: 1364954 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0001364954-18-000113`
Period End Date	20180331
Filing Date	20180426
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	chgg-20180331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 72 Income Statement 37 Cash Flow Statement 66 Comprehensive Income 10

Balance Sheet 72 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts receivable, current	`AllowanceForDoubtfulAccountsReceivableCurrent`	$176.00K	USD	Point-in-time
Allowance for doubtful accounts receivable, current	`AllowanceForDoubtfulAccountsReceivableCurrent`	$259.00K	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
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$106.83M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$126.46M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$70.29M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Short-term investments	`ShortTermInvestments`	$81.74M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Short-term investments	`ShortTermInvestments`	$82.26M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $176 and $259 at March 31, 2018 and December 31, 2017, respectively	`AccountsReceivableNetCurrent`	$8.05M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $176 and $259 at March 31, 2018 and December 31, 2017, respectively	`AccountsReceivableNetCurrent`	$10.86M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$10.80M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$2.04M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$7.84M	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
Other current assets	`OtherAssetsCurrent`	$6.90M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$214.84M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	109.67M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	112.75M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$228.94M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	109.67M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	112.75M	shares	Point-in-time
Long-term investments	`LongTermInvestments`	$10.63M	USD	Point-in-time
Long-term investments	`LongTermInvestments`	$20.30M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$47.49M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$48.20M	USD	Point-in-time
Goodwill	`Goodwill`	$116.24M	USD	Point-in-time
Goodwill	`Goodwill`	$125.27M	USD	Point-in-time
Goodwill	`Goodwill`	$125.53M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$19.90M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$21.15M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$4.38M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$3.77M	USD	Point-in-time
Total assets	`Assets`	$446.93M	USD	Point-in-time
Total assets	`Assets`	$423.48M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$7.05M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$3.98M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$13.44M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$18.62M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$26.42M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$31.07M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$49.02M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$51.56M	USD	Point-in-time
Total other long-term liabilities	`LiabilitiesNoncurrent`	$4.30M	USD	Point-in-time
Total other long-term liabilities	`LiabilitiesNoncurrent`	$4.44M	USD	Point-in-time
Total liabilities	`Liabilities`	$55.87M	USD	Point-in-time
Total liabilities	`Liabilities`	$53.47M	USD	Point-in-time
Commitments and contingencies (Note 8)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 8)	`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; 112,748,665 and 109,667,640 shares issued and outstanding at March 31, 2018 and December 31, 2017, respectively	`CommonStockValue`	$113.00K	USD	Point-in-time
Common stock, $0.001 par value 400,000,000 shares authorized; 112,748,665 and 109,667,640 shares issued and outstanding at March 31, 2018 and December 31, 2017, respectively	`CommonStockValue`	$110.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$764.07M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$782.85M	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$138.00K	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-282.00K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-391.61M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-394.31M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$391.06M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$370.01M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$423.48M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$446.93M	USD	Point-in-time

Income Statement 37 line items

Line Item	Tag	Value	Unit	Period
Net revenues:	`SalesRevenueNet`	$62.60M	USD	1 Quarter
Net revenues:	`SalesRevenueNet`	$76.95M	USD	1 Quarter
Cost of revenues:	`CostOfRevenue`	$20.22M	USD	1 Quarter
Cost of revenues:	`CostOfRevenue`	$21.40M	USD	1 Quarter
Gross profit	`GrossProfit`	$56.73M	USD	1 Quarter
Gross profit	`GrossProfit`	$41.21M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$25.53M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$19.30M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$15.34M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$15.96M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$15.34M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$18.26M	USD	1 Quarter
Restructuring charges	`RestructuringCharges`	$900.00K	USD	1 Quarter
Restructuring charges	`RestructuringCharges`	$220.00K	USD	1 Quarter
Restructuring charges	`RestructuringCharges`	$1.05M	USD	Annual
Gain on liquidation of textbooks	`GainLossOnDispositionOfAssets1`	$4.77M	USD	1 Quarter
Gain on liquidation of textbooks	`GainLossOnDispositionOfAssets1`	-	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$46.74M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$59.34M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-2.62M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-5.54M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-20.00K	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-19.00K	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$564.00K	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-199.00K	USD	1 Quarter
Total interest expense and other income (expense), net	`NonoperatingIncomeExpense`	$-218.00K	USD	1 Quarter
Total interest expense and other income (expense), net	`NonoperatingIncomeExpense`	$544.00K	USD	1 Quarter
Loss before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-5.75M	USD	1 Quarter
Loss before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-2.08M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$541.00K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$647.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-6.40M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.62M	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`	$-0.02	USD	1 Quarter
Weighted average shares used to compute net loss per share, basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	110.90M	shares	1 Quarter
Weighted average shares used to compute net loss per share, basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	92.83M	shares	1 Quarter

Cash Flow Statement 66 line items

Line Item	Tag	Value	Unit	Period
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-19.63M	USD	1 Quarter
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-6.68M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-6.40M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.62M	USD	1 Quarter
Depreciation and amortization expense	`OtherDepreciationAndAmortization`	$5.22M	USD	1 Quarter
Depreciation and amortization expense	`OtherDepreciationAndAmortization`	$4.39M	USD	1 Quarter
Share-based compensation expense	`ShareBasedCompensation`	$8.28M	USD	1 Quarter
Share-based compensation expense	`ShareBasedCompensation`	$11.64M	USD	1 Quarter
Gain on liquidation of textbooks	`GainLossOnDispositionOfAssets1`	$4.77M	USD	1 Quarter
Gain on liquidation of textbooks	`GainLossOnDispositionOfAssets1`	-	USD	1 Quarter
Loss from write-offs of textbooks	`LossFromWriteOffsOfTextbooks`	-	USD	1 Quarter
Loss from write-offs of textbooks	`LossFromWriteOffsOfTextbooks`	$314.00K	USD	1 Quarter
Other non-cash items	`OtherNoncashIncomeExpense`	$41.00K	USD	1 Quarter
Other non-cash items	`OtherNoncashIncomeExpense`	$46.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-2.78M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.95M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpensesOther`	$7.89M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpensesOther`	$1.24M	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-72.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$506.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-3.07M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-1.14M	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$5.18M	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$3.27M	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-3.74M	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-4.29M	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$260.00K	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$138.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$6.55M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.19M	USD	1 Quarter
Proceeds from liquidations of textbooks	`ProceedsFromSaleOfTextbooks`	$6.94M	USD	1 Quarter
Proceeds from liquidations of textbooks	`ProceedsFromSaleOfTextbooks`	-	USD	1 Quarter
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	-	USD	1 Quarter
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	$12.51M	USD	1 Quarter
Maturities of marketable securities	`ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities`	-	USD	1 Quarter
Maturities of marketable securities	`ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities`	$21.63M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$4.77M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$4.88M	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`	$4.24M	USD	1 Quarter
Common stock issued under stock plans, net	`ProceedsFromIssuanceOfEmployeeStockPurchasePlan`	$5.22M	USD	1 Quarter
Common stock issued under stock plans, net	`ProceedsFromIssuanceOfEmployeeStockPurchasePlan`	$2.76M	USD	1 Quarter
Payment of taxes related to the net share settlement of equity awards	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$12.62M	USD	1 Quarter
Payment of taxes related to the net share settlement of equity awards	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$35.64M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-30.42M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-9.86M	USD	1 Quarter
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$107.33M	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$77.43M	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$126.96M	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$70.76M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$107.33M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$77.43M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$126.96M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$70.76M	USD	Point-in-time
Interest	`InterestPaid`	$30.00K	USD	1 Quarter
Interest	`InterestPaid`	$19.00K	USD	1 Quarter
Income taxes	`IncomeTaxesPaid`	$503.00K	USD	1 Quarter
Income taxes	`IncomeTaxesPaid`	$388.00K	USD	1 Quarter
Accrued purchases of long-lived assets	`NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1`	$3.20M	USD	1 Quarter
Accrued purchases of long-lived assets	`NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1`	$2.02M	USD	1 Quarter
Total cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$107.33M	USD	Point-in-time
Total cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$77.43M	USD	Point-in-time
Total cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$126.96M	USD	Point-in-time
Total cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$70.76M	USD	Point-in-time

Comprehensive Income 10 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-6.40M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.62M	USD	1 Quarter
Change in net unrealized loss on available for sale investments	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	-	USD	1 Quarter
Change in net unrealized loss on available for sale investments	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$-91.00K	USD	1 Quarter
Change in foreign currency translation adjustments, net of tax	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$99.00K	USD	1 Quarter
Change in foreign currency translation adjustments, net of tax	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$511.00K	USD	1 Quarter
Other comprehensive income	`OtherComprehensiveIncomeLossNetOfTax`	$99.00K	USD	1 Quarter
Other comprehensive income	`OtherComprehensiveIncomeLossNetOfTax`	$420.00K	USD	1 Quarter
Total comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-6.30M	USD	1 Quarter
Total comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-2.20M	USD	1 Quarter

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