CHEGG, INC

Listed Company

CHGGCIK 0001364954NYSEAcceleratedSmaller ReportingServices-Educational ServicesDelawareFY ends Dec 31

Period

FY 2025

Revenue

$376.91M

Net Income

$-103.42M

Total Assets

$278.01M

Equity

$119.62M

Shares Out

111.80M

Op. Cash Flow

$15.49M

Business

CHEGG, INC provides individualized, AI-powered learning support and academic services for students pursuing educational and career goals. Its main products and services include Subscription Services such as Chegg Study, Chegg Study Pack, Chegg Writing, Chegg Math, and the Busuu language platform, alongside skills training, advertising, and textbook/eTextbook offerings. The company organizes its business into two principal segments: Subscription Services and Skills and Other, which encompasses Chegg Skills, advertising services, and other educational offerings. Chegg distributes its services direct-to-consumer via websites and mobile apps, and through partners, employers, and programmatic advertising across international markets.

Summary from filing dated 2025-02-24

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net revenues	377	618	716	767	776
Cost of revenues	152	181	226	197	255
Gross profit	225	437	490	570	521
Research and development	93	170	192	197	179
Sales and marketing	69	108	127	148	105
General and administrative	177	218	236	216	159
Impairment expense	2	677	4	0	—
Total operating expenses	342	1,174	558	561	443
Loss from operations	−117	−737	−68	9	78
Interest expense, net	−590,000	−3	−4	−6	—
Other income, net	17	51	122	101	−65
Total interest expense, net and other income, net	17	49	118	95	−72
(Loss) income before provision for income taxes	−100	−688	50	104	6
Provision for income taxes	−3	−149	−32	163	−7
Net (loss) income	−103	−837	18	267	−1
Basic (in dollars per share)	−0.96	−8.1	0.16	2.09	−0.01
Diluted (in dollars per share)	−0.96	−8.1	−0.34	1.34	−0.01
Basic (in shares)	107	103	117	128	141
Diluted (in shares)	107	103	129	150	141

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	31	161	—	—	—
Short-term investments	42	154	194	584	692
Accounts receivable, net of allowance of $156 and $190 at December 31, 2025 and December 31, 2024, respectively	16	24	31	24	18
Prepaid expenses	16	17	21	28	35
Other current assets	17	81	32	35	24
Total current assets	122	438	415	1,144	1,623
Long-term investments	12	213	250	216	746
Property and equipment, net	115	171	183	204	170
Intangible assets, net	6	10	52	78	41
Right of use assets	13	22	25	19	18
Other assets	10	15	28	21	20
Total assets	278	869	1,727	2,465	2,919
Accounts payable	3	15	28	12	12
Deferred revenue	30	39	55	56	35
Accrued liabilities	54	115	78	70	67
Current portion of convertible senior notes, net	54	359	357	0	—
Total current liabilities	141	528	518	139	114
Convertible senior notes, net	0	127	243	1,189	1,678
Long-term operating lease liabilities	15	19	18	13	12
Other long-term liabilities	2	2	3	8	7
Total long-term liabilities	17	148	264	1,210	1,698
Total liabilities	158	676	783	1,349	1,812
Commitments and contingencies (Note 10)	—	—	—	—	—
Preferred stock, $0.001 par value 10,000,000 shares authorized, no shares issued and outstanding at December 31, 2025 and December 31, 2024	0	0	0	0	0
Common stock, $0.001 par value 400,000,000 shares authorized; 110,985,562 and 104,880,048 shares issued and outstanding at December 31, 2025 and December 31, 2024, respectively	111,000	105,000	103,000	126,000	137,000
Additional paid-in capital	1,145	1,115	1,032	1,245	1,449
Accumulated other comprehensive loss	−33	−32	−35	−57	−5
Accumulated deficit	−993	−889	−52	−71	−337
Total stockholders equity	120	193	945	1,117	1,107
Total liabilities and stockholders equity	278	869	1,727	2,465	2,919

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Share-based compensation expense	32	85	134	133	109
Depreciation and amortization expense	79	78	130	90	63
Deferred tax assets	1	143	27	−169	−1
Gain on early extinguishments of debt	−8	−20	−86	−94	78
Loss contingency	0	0	7	0	0
Loss from write-offs of property and equipment	2	6	4	4	2
Amortization of debt issuance costs	500,000	2	3	5	—
Operating lease expense, net of accretion	4	6	6	6	6
Realized (gain) loss on sale of investments	−752,000	27,000	2	10	178,000
Impairment of lease related assets	7	6	0	5	0
Impairment of equity investment	6	0	0	—	—
Other non-cash items	1	656,000	−1	378,000	−47,000
Accounts receivable	8	8	−8	−4	−5
Prepaid expenses and other current assets	66	−42	3	17	−22
Other assets	21,000	1	11	15	16
Accounts payable	−10	−12	13	−4	3
Deferred revenue	−11	−16	−2	8	3
Accrued liabilities	−60	47	−7	−20	5
Other liabilities	−2	−8	−11	−6	−6
Net cash provided by operating activities	15	125	246	256	273
Purchases of property and equipment	−28	−75	−83	−103	−94
Proceeds from disposition of textbooks	0	0	10	6	9
Purchases of investments	−793,000	−171	−638	−731	−1,688
Proceeds from sale of investments	181	70	395	458	206
Maturities of investments	130	172	597	885	1,205
Proceeds from sale of equity investments	0	16	0	0	16
Purchases of equity investments	0	0	−12	−6	0
Net cash provided by investing activities	282	11	269	105	−366
Proceeds from common stock issued under stock plans	590,000	3	4	6	9
Payment of taxes related to the net share settlement of equity awards	−3	−9	−16	−27	−94
Repayment of convertible senior notes	−425	−97	−506	−401	−301
Proceeds from exercise of convertible senior notes capped call	0	0	297,000	0	69
Payment of withholding tax	−2	−4	0	0	—
Repurchase of common stock	0	−3	−335	−324	−300
Net cash used in financing activities	−428	−109	−853	−745	467
Effect of exchange rate changes	−256,000	−1	21,000	4	0
Net (decrease) increase in cash, cash equivalents and restricted cash	−131	26	−338	−380	374
Interest	224,000	449,000	741,000	875,000	1
Income taxes, net of refunds	5	8	11	7	7
Operating cash flows from operating leases	7	7	9	9	8
Operating leases	2	10	12	10	0
Accrued purchases of long-lived assets	185,000	6	10	5	3

Filings

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