2021 Q4 Form 10-Q Financial Statement

#000136495421000113 Filed on November 01, 2021

View on sec.gov

Income Statement

Concept 2021 Q4 2021 Q3 2020 Q3
Revenue $207.5M $171.9M $154.0M
YoY Change 0.85% 11.64% 63.59%
Cost Of Revenue $55.71M $67.10M $62.37M
YoY Change -2.43% 7.59% 181.4%
Gross Profit $151.8M $104.8M $91.65M
YoY Change 2.13% 14.39% 27.31%
Gross Profit Margin 73.15% 60.97% 59.5%
Selling, General & Admin $72.43M $61.21M $65.41M
YoY Change 38.23% -6.42% 61.21%
% of Gross Profit 47.73% 58.38% 71.37%
Research & Development $47.83M $43.27M $44.04M
YoY Change 1.97% -1.75% 20.85%
% of Gross Profit 31.51% 41.27% 48.05%
Depreciation & Amortization $18.84M $18.53M $16.90M
YoY Change 1.27% 9.64% 125.33%
% of Gross Profit 12.41% 17.67% 18.44%
Operating Expenses $120.3M $104.5M $109.5M
YoY Change 20.99% -4.54% 42.06%
Operating Profit $31.50M $361.0K -$17.80M
YoY Change -36.01% -102.03% 252.03%
Interest Expense -$318.0K $1.485M $2.539M
YoY Change -98.55% -41.51% -118.81%
% of Operating Profit -1.01% 411.36%
Other Income/Expense, Net -$169.0K $7.037M -$18.27M
YoY Change -107.35% -138.51% 215.2%
Pretax Income $25.71M $7.398M -$36.07M
YoY Change -9.79% -120.51% 232.36%
Income Tax $1.404M $747.0K $1.066M
% Of Pretax Income 5.46% 10.1%
Net Earnings $24.31M $6.651M -$37.14M
YoY Change -6.67% -117.91% 223.6%
Net Earnings / Revenue 11.72% 3.87% -24.11%
Basic Earnings Per Share $0.05 -$0.29
Diluted Earnings Per Share $170.3K $0.05 -$0.29
COMMON SHARES
Basic Shares Outstanding 144.9M shares 144.7M shares 126.2M shares
Diluted Shares Outstanding 146.7M shares 126.2M shares

Balance Sheet

Concept 2021 Q4 2021 Q3 2020 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.546B $1.752B $1.251B
YoY Change 34.96% 40.07% 57.19%
Cash & Equivalents $854.1M $713.8M $527.5M
Short-Term Investments $691.8M $1.038B $723.3M
Other Short-Term Assets $23.85M $29.32M $21.06M
YoY Change 101.3% 39.21% -15.38%
Inventory
Prepaid Expenses $35.09M $35.16M $15.08M
Receivables $17.85M $9.302M $12.49M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.623B $1.826B $1.299B
YoY Change 37.17% 40.51% 53.96%
LONG-TERM ASSETS
Property, Plant & Equipment $169.9M $156.1M $113.1M
YoY Change 35.08% 38.09% 45.57%
Goodwill $289.8M $290.5M $284.8M
YoY Change 1.59% 2.0% 91.06%
Intangibles $40.57M $43.57M $55.39M
YoY Change -20.85% -21.33% 168.58%
Long-Term Investments $746.0M $813.5M $521.3M
YoY Change 42.47% 56.05% 53.28%
Other Assets $21.04M $22.48M $18.95M
YoY Change -12.46% 18.66% 19.65%
Total Long-Term Assets $1.297B $1.362B $1.042B
YoY Change 21.37% 30.64% 68.19%
TOTAL ASSETS
Total Short-Term Assets $1.623B $1.826B $1.299B
Total Long-Term Assets $1.297B $1.362B $1.042B
Total Assets $2.919B $3.187B $2.342B
YoY Change 29.67% 36.12% 59.98%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $11.99M $10.52M $5.838M
YoY Change 40.31% 80.16% 39.1%
Accrued Expenses $67.21M $73.32M $79.52M
YoY Change -1.98% -7.8% 52.35%
Deferred Revenue $35.14M $49.98M $51.94M
YoY Change 7.73% -3.77% 89.17%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $114.3M $133.8M $143.0M
YoY Change 4.2% -6.39% 60.92%
LONG-TERM LIABILITIES
Long-Term Debt $1.678B $1.677B $1.537B
YoY Change 11.36% 9.09% 73.24%
Other Long-Term Liabilities $7.383M $8.271M $4.665M
YoY Change 29.41% 77.3% 22.28%
Total Long-Term Liabilities $1.698B $1.699B $1.553B
YoY Change 10.84% 9.39% 71.38%
TOTAL LIABILITIES
Total Short-Term Liabilities $114.3M $133.8M $143.0M
Total Long-Term Liabilities $1.698B $1.699B $1.553B
Total Liabilities $1.812B $1.833B $1.696B
YoY Change 10.4% 8.06% 70.45%
SHAREHOLDERS EQUITY
Retained Earnings -$337.2M -$361.5M -$448.6M
YoY Change -20.21% -19.42% 5.68%
Common Stock $1.449B $1.718B $1.093B
YoY Change 40.63% 57.19% 22.12%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.107B $1.355B $645.4M
YoY Change
Total Liabilities & Shareholders Equity $2.919B $3.187B $2.342B
YoY Change 29.67% 36.12% 59.98%

Cashflow Statement

Concept 2021 Q4 2021 Q3 2020 Q3
OPERATING ACTIVITIES
Net Income $24.31M $6.651M -$37.14M
YoY Change -6.67% -117.91% 223.6%
Depreciation, Depletion And Amortization $18.84M $18.53M $16.90M
YoY Change 1.27% 9.64% 125.33%
Cash From Operating Activities $65.10M $63.62M $46.50M
YoY Change -3.84% 36.82% 19.85%
INVESTING ACTIVITIES
Capital Expenditures -$27.32M -$26.18M -$25.30M
YoY Change -16.71% 3.47% 216.25%
Acquisitions
YoY Change
Other Investing Activities $404.1M -$141.6M -$547.1M
YoY Change 693.89% -74.12% 297.6%
Cash From Investing Activities $376.8M -$167.8M -$572.4M
YoY Change 1981.6% -70.69% 292.86%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -301.6M -22.05M 768.5M
YoY Change 125.39% -102.87% 45105.88%
NET CHANGE
Cash From Operating Activities 65.10M 63.62M 46.50M
Cash From Investing Activities 376.8M -167.8M -572.4M
Cash From Financing Activities -301.6M -22.05M 768.5M
Net Change In Cash 140.3M -126.2M 242.6M
YoY Change -392.28% -152.01% -330.61%
FREE CASH FLOW
Cash From Operating Activities $65.10M $63.62M $46.50M
Capital Expenditures -$27.32M -$26.18M -$25.30M
Free Cash Flow $92.42M $89.80M $71.80M
YoY Change -8.04% 25.07% 53.42%

Facts In Submission

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us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
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CY2021Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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CY2020Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
1125000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-1108000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
507000 USD
CY2021Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
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CY2020Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
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us-gaap Other Comprehensive Income Loss Net Of Tax
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us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
2429000 USD
CY2021Q3 us-gaap Comprehensive Income Net Of Tax
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CY2020Q3 us-gaap Comprehensive Income Net Of Tax
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us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
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us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
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CY2021Q2 us-gaap Stockholders Equity
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CY2021Q3 chgg Stock Issued During Period Value Employee Stock Purchase Plan And Stock Options Exercised
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CY2021Q3 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
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CY2021Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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CY2021Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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CY2021Q3 us-gaap Net Income Loss
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CY2021Q3 us-gaap Stockholders Equity
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CY2020Q2 us-gaap Stockholders Equity
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CY2020Q3 chgg Adjustments To Additional Paid In Capital Purchase Of Capped Call
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CY2020Q3 us-gaap Adjustments To Additional Paid In Capital Equity Component Of Convertible Debt Subsequent Adjustments
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345552000 USD
CY2020Q3 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
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CY2020Q3 chgg Adjustments To Additional Paid In Capital Proceeds From Capped Call
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CY2020Q3 chgg Stock Issued During Period Value Employee Stock Purchase Plan And Stock Options Exercised
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CY2020Q3 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
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CY2020Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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CY2020Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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CY2020Q3 us-gaap Net Income Loss
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CY2020Q3 us-gaap Stockholders Equity
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CY2020Q4 us-gaap Stockholders Equity
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us-gaap Stock Issued During Period Value New Issues
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us-gaap Adjustments To Additional Paid In Capital Equity Component Of Convertible Debt
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us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
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chgg Adjustments To Additional Paid In Capital Proceeds From Capped Call
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chgg Stock Issued During Period Value Employee Stock Purchase Plan And Stock Options Exercised
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us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
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us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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77996000 USD
chgg Increase Decrease In Contract With Customer Assets
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3100000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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us-gaap Net Income Loss
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CY2021Q3 us-gaap Stockholders Equity
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CY2019Q4 us-gaap Stockholders Equity
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us-gaap Adjustments To Additional Paid In Capital Equity Component Of Convertible Debt
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chgg Adjustments To Additional Paid In Capital Purchase Of Capped Call
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103400000 USD
us-gaap Adjustments To Additional Paid In Capital Equity Component Of Convertible Debt Subsequent Adjustments
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345552000 USD
us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
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327141000 USD
chgg Adjustments To Additional Paid In Capital Proceeds From Capped Call
AdjustmentsToAdditionalPaidInCapitalProceedsFromCappedCall
57414000 USD
chgg Stock Issued During Period Value Employee Stock Purchase Plan And Stock Options Exercised
StockIssuedDuringPeriodValueEmployeeStockPurchasePlanAndStockOptionsExercised
9234000 USD
us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
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us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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59409000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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2429000 USD
us-gaap Net Income Loss
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CY2020Q3 us-gaap Stockholders Equity
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us-gaap Net Income Loss
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us-gaap Net Income Loss
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chgg Depreciation Textbook Library
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9024000 USD
chgg Depreciation Textbook Library
DepreciationTextbookLibrary
10699000 USD
us-gaap Other Depreciation And Amortization
OtherDepreciationAndAmortization
46273000 USD
us-gaap Other Depreciation And Amortization
OtherDepreciationAndAmortization
33088000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
76157000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
59409000 USD
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
4509000 USD
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
42910000 USD
chgg Repayments Of Convertible Senior Notes Attributable To Debt Discount
RepaymentsOfConvertibleSeniorNotesAttributableToDebtDiscount
0 USD
chgg Repayments Of Convertible Senior Notes Attributable To Debt Discount
RepaymentsOfConvertibleSeniorNotesAttributableToDebtDiscount
14912000 USD
us-gaap Gains Losses On Extinguishment Of Debt
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us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-3315000 USD
us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-7148000 USD
us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
0 USD
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-1857000 USD
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-1057000 USD
us-gaap Equity Method Investment Other Than Temporary Impairment
EquityMethodInvestmentOtherThanTemporaryImpairment
0 USD
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
1820000 USD
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-1634000 USD
us-gaap Equity Method Investment Other Than Temporary Impairment
EquityMethodInvestmentOtherThanTemporaryImpairment
10000000 USD
us-gaap Equity Method Investment Realized Gain Loss On Disposal
EquityMethodInvestmentRealizedGainLossOnDisposal
12496000 USD
us-gaap Equity Method Investment Realized Gain Loss On Disposal
EquityMethodInvestmentRealizedGainLossOnDisposal
0 USD
chgg Textbook Library Gain Loss Net
TextbookLibraryGainLossNet
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chgg Textbook Library Gain Loss Net
TextbookLibraryGainLossNet
2028000 USD
us-gaap Operating Lease Cost
OperatingLeaseCost
4527000 USD
us-gaap Operating Lease Cost
OperatingLeaseCost
3400000 USD
us-gaap Restructuring Costs
RestructuringCosts
1851000 USD
us-gaap Restructuring Costs
RestructuringCosts
0 USD
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
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us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
102000 USD
us-gaap Increase Decrease In Accounts Receivable
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-3593000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
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us-gaap Increase Decrease In Prepaid Expenses Other
IncreaseDecreaseInPrepaidExpensesOther
31070000 USD
us-gaap Increase Decrease In Prepaid Expenses Other
IncreaseDecreaseInPrepaidExpensesOther
6178000 USD
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-9472000 USD
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
2638000 USD
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
17363000 USD
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
32239000 USD
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
10552000 USD
us-gaap Increase Decrease In Accrued Liabilities
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34276000 USD
us-gaap Increase Decrease In Other Operating Liabilities
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-4108000 USD
us-gaap Increase Decrease In Other Operating Liabilities
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us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
208123000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
168655000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
67126000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
57457000 USD
chgg Payment To Purchases Textbooks
PaymentToPurchasesTextbooks
10666000 USD
chgg Payment To Purchases Textbooks
PaymentToPurchasesTextbooks
49641000 USD
chgg Proceeds From Disposition Of Textbooks
ProceedsFromDispositionOfTextbooks
7815000 USD
chgg Proceeds From Disposition Of Textbooks
ProceedsFromDispositionOfTextbooks
7012000 USD
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
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us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
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us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
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893315000 USD
us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
412046000 USD
us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
0 USD
us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
2000000 USD
us-gaap Proceeds From Sale Of Equity Method Investments
ProceedsFromSaleOfEquityMethodInvestments
16076000 USD
us-gaap Proceeds From Sale Of Equity Method Investments
ProceedsFromSaleOfEquityMethodInvestments
0 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
7891000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
92796000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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chgg Proceeds From Issuance Of Employee Stock Purchase Plan
ProceedsFromIssuanceOfEmployeeStockPurchasePlan
5373000 USD
chgg Proceeds From Issuance Of Employee Stock Purchase Plan
ProceedsFromIssuanceOfEmployeeStockPurchasePlan
9236000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
89339000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
65224000 USD
us-gaap Proceeds From Debt Net Of Issuance Costs
ProceedsFromDebtNetOfIssuanceCosts
0 USD
us-gaap Proceeds From Debt Net Of Issuance Costs
ProceedsFromDebtNetOfIssuanceCosts
984096000 USD
chgg Payments For Convertible Senior Notes Capped Call
PaymentsForConvertibleSeniorNotesCappedCall
0 USD
chgg Payments For Convertible Senior Notes Capped Call
PaymentsForConvertibleSeniorNotesCappedCall
103400000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
1091466000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0 USD
us-gaap Repayments Of Convertible Debt
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300755000 USD
us-gaap Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
159677000 USD
us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
69005000 USD
us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
57414000 USD
us-gaap Escrow Deposit Disbursements Related To Property Acquisition1
EscrowDepositDisbursementsRelatedToPropertyAcquisition1
7451000 USD
us-gaap Escrow Deposit Disbursements Related To Property Acquisition1
EscrowDepositDisbursementsRelatedToPropertyAcquisition1
0 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
768299000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
722445000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
233885000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
140158000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
481715000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
389432000 USD
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
715600000 USD
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
529590000 USD
us-gaap Interest Paid Net
InterestPaidNet
1053000 USD
us-gaap Interest Paid Net
InterestPaidNet
1546000 USD
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
5610000 USD
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
2450000 USD
us-gaap Operating Lease Payments
OperatingLeasePayments
5934000 USD
us-gaap Operating Lease Payments
OperatingLeasePayments
5174000 USD
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0 USD
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
1713000 USD
us-gaap Noncash Or Part Noncash Acquisition Fixed Assets Acquired1
NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1
1837000 USD
us-gaap Noncash Or Part Noncash Acquisition Fixed Assets Acquired1
NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1
6102000 USD
chgg Noncash Or Part Noncash Acquisition Accrued Escrow
NoncashOrPartNoncashAcquisitionAccruedEscrow
0 USD
chgg Noncash Or Part Noncash Acquisition Accrued Escrow
NoncashOrPartNoncashAcquisitionAccruedEscrow
7451000 USD
chgg Stock Issued Repayment For Convertible Senior Notes
StockIssuedRepaymentForConvertibleSeniorNotes
235521000 USD
chgg Stock Issued Repayment For Convertible Senior Notes
StockIssuedRepaymentForConvertibleSeniorNotes
327141000 USD
CY2021Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
713837000 USD
CY2020Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
527541000 USD
CY2021Q3 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
0 USD
CY2020Q3 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
313000 USD
CY2021Q3 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
1763000 USD
CY2020Q3 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
1736000 USD
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
715600000 USD
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
529590000 USD
us-gaap Use Of Estimates
UseOfEstimates
Use of EstimatesThe preparation of financial statements in conformity with generally accepted accounting principles in the United States 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.
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Reclassification of Prior Period Presentation</span></div><div style="text-indent:27pt"><span><br/></span></div><div style="text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In order to conform with current period presentation, $6.6 million of current operating lease liabilities have been reclassified to accrued liabilities on our condensed consolidated balance sheet as of December 31, 2020. This change in presentation does not affect previously reported results.</span></div>
CY2021Q3 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0 USD
CY2020Q3 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
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us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-78152000 USD
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-3315000 USD
CY2021Q3 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
0 USD
CY2020Q3 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
0 USD
us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-7148000 USD
us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
0 USD
CY2021Q3 us-gaap Equity Method Investment Realized Gain Loss On Disposal
EquityMethodInvestmentRealizedGainLossOnDisposal
7158000 USD
CY2020Q3 us-gaap Equity Method Investment Realized Gain Loss On Disposal
EquityMethodInvestmentRealizedGainLossOnDisposal
0 USD
us-gaap Equity Method Investment Realized Gain Loss On Disposal
EquityMethodInvestmentRealizedGainLossOnDisposal
12496000 USD
us-gaap Equity Method Investment Realized Gain Loss On Disposal
EquityMethodInvestmentRealizedGainLossOnDisposal
0 USD
CY2021Q3 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
1485000 USD
CY2020Q3 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
2539000 USD
us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
5385000 USD
us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
10588000 USD
CY2021Q3 chgg Other Income Expense
OtherIncomeExpense
27000 USD
CY2020Q3 chgg Other Income Expense
OtherIncomeExpense
-28000 USD
chgg Other Income Expense
OtherIncomeExpense
801000 USD
chgg Other Income Expense
OtherIncomeExpense
123000 USD
CY2021Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
8670000 USD
CY2020Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-804000 USD
us-gaap Increase Decrease In Contract With Customer Liability
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17400000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-66618000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
7396000 USD
CY2021Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
171942000 USD
CY2020Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
154018000 USD
CY2021Q3 chgg Revenue From Contract With Customer Including Assessed Tax Increase Decrease
RevenueFromContractWithCustomerIncludingAssessedTaxIncreaseDecrease
17924000 USD
CY2021Q3 chgg Revenue From Contract With Customer Including Assessed Tax Increase Decrease Percent
RevenueFromContractWithCustomerIncludingAssessedTaxIncreaseDecreasePercent
0.12
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
568798000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
438617000 USD
chgg Revenue From Contract With Customer Including Assessed Tax Increase Decrease
RevenueFromContractWithCustomerIncludingAssessedTaxIncreaseDecrease
130181000 USD
chgg Revenue From Contract With Customer Including Assessed Tax Increase Decrease Percent
RevenueFromContractWithCustomerIncludingAssessedTaxIncreaseDecreasePercent
0.30
CY2021Q3 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
31300000 USD
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
32600000 USD
CY2020Q3 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
25400000 USD
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
18000000 USD
chgg Contract With Customer Liability Revenue Recognized Prior Period
ContractWithCustomerLiabilityRevenueRecognizedPriorPeriod
3400000 USD
CY2021Q3 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
9302000 USD
CY2020Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
12913000 USD
chgg Increase Decrease In Accounts Receivable Net
IncreaseDecreaseInAccountsReceivableNet
-3611000 USD
chgg Increase Decrease In Accounts Receivable Percent
IncreaseDecreaseInAccountsReceivablePercent
-0.28
CY2021Q3 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
49983000 USD
CY2020Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
32620000 USD
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
17363000 USD
chgg Increase Decrease In Contract With Customer Liability Percent
IncreaseDecreaseInContractWithCustomerLiabilityPercent
0.53
CY2021Q3 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
16358000 USD
CY2020Q4 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
13243000 USD
chgg Increase Decrease In Contract With Customer Assets
IncreaseDecreaseInContractWithCustomerAssets
3115000 USD
chgg Increase Decrease In Contract With Customer Assets Percent
IncreaseDecreaseInContractWithCustomerAssetsPercent
0.24
chgg Increase Decrease In Accounts Receivable Net
IncreaseDecreaseInAccountsReceivableNet
-3600000 USD
chgg Increase Decrease In Accounts Receivable Percent
IncreaseDecreaseInAccountsReceivablePercent
-0.28
chgg Increase Decrease In Contract With Customer Assets Percent
IncreaseDecreaseInContractWithCustomerAssetsPercent
0.24
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
6651000 USD
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
-37140000 USD
us-gaap Net Income Loss
NetIncomeLoss
-25764000 USD
us-gaap Net Income Loss
NetIncomeLoss
-32264000 USD
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
144746000 shares
CY2020Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
126194000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
140775000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
124162000 shares
CY2021Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.05
CY2020Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.29
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.18
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.26
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
6651000 USD
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
-37140000 USD
us-gaap Net Income Loss
NetIncomeLoss
-25764000 USD
us-gaap Net Income Loss
NetIncomeLoss
-32264000 USD
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
144746000 shares
CY2020Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
126194000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
140775000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
124162000 shares
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
146699000 shares
CY2020Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
126194000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
140775000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
124162000 shares
CY2021Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.05
CY2020Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.29
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.18
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.26
CY2021Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
23724000 shares
CY2020Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
12989000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
26603000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
8828000 shares
CY2021Q3 us-gaap Available For Sale Securities Debt Maturities Within One Year Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost
1038124000 USD
CY2021Q3 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
1038345000 USD
CY2021Q3 chgg Available For Sale Securities Debt Maturities Year One Through Two Amortized Cost Basis
AvailableForSaleSecuritiesDebtMaturitiesYearOneThroughTwoAmortizedCostBasis
813889000 USD
CY2021Q3 chgg Available For Sale Securities Debt Maturities Year One Through Two Fair Value
AvailableForSaleSecuritiesDebtMaturitiesYearOneThroughTwoFairValue
813500000 USD
CY2021Q3 us-gaap Available For Sale Securities Debt Maturities Without Single Maturity Date Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithoutSingleMaturityDateAmortizedCost
684499000 USD
CY2021Q3 us-gaap Available For Sale Securities Debt Maturities Without Single Maturity Date Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithoutSingleMaturityDateFairValue
684499000 USD
CY2021Q3 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
2536512000 USD
CY2021Q3 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
2536344000 USD
chgg Available For Sale Securities Weighted Average Maturity
AvailableForSaleSecuritiesWeightedAverageMaturity
P12M
CY2021Q3 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
665500000 USD
CY2021Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
24512000 USD
CY2020Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
21529000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
76157000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
59409000 USD
CY2021Q3 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
600000 USD
us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
1800000 USD
CY2021Q3 chgg Restructuring And Related Cost Number Of Positions Impacted
RestructuringAndRelatedCostNumberOfPositionsImpacted
60 full_time_employee
CY2021Q3 chgg Restructuring And Related Cost Number Of Positions Impacted
RestructuringAndRelatedCostNumberOfPositionsImpacted
120 part_time_employee
CY2021Q3 us-gaap Restructuring Charges
RestructuringCharges
1900000 USD
CY2021Q3 us-gaap Restructuring Reserve
RestructuringReserve
1900000 USD
CY2021Q3 us-gaap Restructuring And Related Cost Expected Cost1
RestructuringAndRelatedCostExpectedCost1
2200000 USD

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