Chegg, Inc. (CHGG) Financial Statements (2024 and earlier)

Company Profile

Business Address 3990 FREEDOM CIRCLE
SANTA CLARA, CA 95054
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 82 - Educational Services (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

9/30/2023
MRQ
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments1,057,6501,545,8591,145,420768,594468,009208,199
Cash and cash equivalents473,677854,078479,853387,520374,664126,457
Short-term investments583,973691,781665,567381,07493,34581,742
Receivables23,51517,85012,91311,52912,73310,855
Prepaid expense28,48135,09312,77610,5384,6732,043
Other current assets34,75423,84611,84616,6069,5107,845
Total current assets:1,144,4001,622,6481,182,955807,267494,925228,942
Noncurrent Assets
Operating lease, right-of-use asset18,83818,06224,22615,931
Property, plant and equipment204,383169,938125,80787,35959,90447,493
Long-term investments and receivables216,233745,993523,628310,48316,05220,305
Long-term investments216,233745,993523,628310,48316,05220,305
Intangible assets, net (including goodwill)693,426330,329336,463249,180175,439146,425
Goodwill615,093289,763285,214214,513149,524125,272
Intangible assets, net (excluding goodwill)78,33340,56651,24934,66725,91521,153
Restricted cash and investments  1,8151,740   
Deferred income tax assets167,524   
Other noncurrent assets20,61221,03524,03018,77814,6183,765
Other undisclosed noncurrent assets  9,42632,409   
Total noncurrent assets:1,321,0161,296,5981,068,303681,731266,013217,988
TOTAL ASSETS:2,465,4162,919,2462,251,2581,488,998760,938446,930
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities82,60179,20170,50947,32642,25438,123
Accounts payable12,36711,9928,5477,3628,1777,049
Accrued liabilities70,23467,20961,96239,96434,07731,074
Deferred revenue56,27335,14332,62018,780
Debt    5,283  
Deferred revenue and credits13,440
Other undisclosed current liabilities   6,603 17,418 
Total current liabilities:138,874114,344109,73271,38959,67251,563
Noncurrent Liabilities
Long-term debt and lease obligation1,188,5931,690,6021,526,186914,816283,668 
Long-term debt, excluding current maturities1,188,5931,678,1551,506,922900,303283,668 
Liabilities, other than long-term debt21,3607,3835,7053,9646,964 
Other liabilities7,9857,3835,7053,9646,964 
Operating lease, liability13,37512,44719,26414,513
Other undisclosed noncurrent liabilities      4,305
Total noncurrent liabilities:1,209,9531,697,9851,531,891918,780290,6324,305
Total liabilities:1,348,8271,812,3291,641,623990,169350,30455,868
Equity
Equity, attributable to parent1,116,5891,106,917609,635498,829410,634391,062
Common stock126137129122116110
Additional paid in capital1,244,5041,449,3051,030,577916,095818,113782,845
Accumulated other comprehensive income (loss)(57,488)(5,334)1,530(1,096)(1,019)(282)
Accumulated deficit(70,553)(337,191)(422,601)(416,292)(406,576)(391,611)
Total equity:1,116,5891,106,917609,635498,829410,634391,062
TOTAL LIABILITIES AND EQUITY:2,465,4162,919,2462,251,2581,488,998760,938446,930

Income Statement (P&L) ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues766,897776,265644,338410,926321,084255,066
Revenue, net255,066
Cost of revenue(197,396)(254,904)(205,417)(92,182)(79,996)(80,175)
Cost of goods and services sold      (80,175)
Gross profit:569,501521,361438,921318,744241,088174,891
Operating expenses(560,544)(443,254)(382,168)(300,927)(247,308)(193,858)
Operating income (loss):8,95778,10756,75317,817(6,220)(18,967)
Nonoperating income (expense)94,989(72,368)(57,614)(24,788)(7,238)486
Other nonoperating income (expense)101,029(65,472)8,68320,0633,987560
Interest and debt expense93,519(78,152)(4,286)   
Other undisclosed income from continuing operations before equity method investments, income taxes   4,286   
Income (loss) from continuing operations before equity method investments, income taxes:197,465(72,413)(861)(6,971)(13,458)(18,481)
Other undisclosed income (loss) from continuing operations before income taxes(93,519)78,152    
Income (loss) from continuing operations before income taxes:103,9465,739(861)(6,971)(13,458)(18,481)
Income tax expense (benefit)162,692(7,197)(5,360)(2,634)(1,430)(1,802)
Income (loss) from continuing operations:266,638(1,458)(6,221)(9,605)(14,888)(20,283)
Loss before gain (loss) on sale of properties:(1,458)(6,221)(9,605)(14,888)(20,283)
Net income (loss) available to common stockholders, basic:266,638(1,458)(6,221)(9,605)(14,888)(20,283)
Dilutive securities, effect on basic earnings per share(65,444)     
Net income (loss) available to common stockholders, diluted:201,194(1,458)(6,221)(9,605)(14,888)(20,283)

Comprehensive Income ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income (loss):266,638(1,458)(6,221)(9,605)(14,888)(20,283)
Other comprehensive income (loss)(52,154)(6,864)2,626(77)(737)(106)
Comprehensive income (loss), net of tax, attributable to parent:214,484(8,322)(3,595)(9,682)(15,625)(20,389)

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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