Chegg, inc (CHGG)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13
Cash flows from operating activities
Net loss

-5,713

8,219

-11,477

-2,029

-4,318

5,347

-13,709

-3,909

-2,617

3,659

-11,516

-6,025

-6,401

-1,489

-16,063

-9,008

-15,685

3,630

-24,167

-10,131

-28,542

1,688

-32,441

-8,246

-25,759

-5,417

-29,255

-3,353

-17,825

Adjustments to reconcile net loss to net cash provided by operating activities:
Provision (release) for bad debts

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

238

-41

12

117

-17

94

Gain on liquidation of textbooks

-

-

-

-

-

-

-

-

-

0

0

0

4,766

147

-2,673

2,191

1,005

1,677

909

-2,445

4,185

-1,289

2,044

2,122

1,678

-1,826

2,403

-1,670

2,279

Loss from write-offs of textbooks

-

-

-

-

-

-

-

-

-

0

0

0

314

194

423

249

224

763

923

1,067

2,544

401

3,328

2,403

4,402

2,585

1,006

253

2,030

Loss from write-offs of property and equipment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

-

-

-

Print textbook depreciation expense

3,527

-

-

-

0

-

-

-

-

-

-

-

-

364

1,683

2,724

4,496

6,715

9,362

12,802

14,674

15,927

16,090

18,035

20,095

19,472

14,470

14,350

16,467

Other depreciation and amortization expense

9,243

8,878

7,435

7,149

6,785

6,174

5,966

5,448

5,217

5,036

5,208

4,704

4,389

4,519

3,933

3,491

2,577

2,331

2,767

3,241

3,172

3,336

3,279

2,509

2,035

1,998

2,452

2,704

2,924

Share-based compensation expense

18,334

17,554

16,865

15,452

15,038

14,527

13,818

12,043

11,642

10,891

10,091

9,099

8,278

9,084

10,210

11,221

11,270

6,991

8,933

7,831

15,020

9,683

11,794

8,481

6,930

25,070

3,857

3,881

4,150

Amortization of debt discount and issuance costs

12,946

13,088

13,089

13,020

4,005

3,536

3,537

3,421

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

88

29

29

735

390

391

Gain on textbook library, net

1,175

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred income taxes

-311

-

20

39

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Operating lease expense, net of accretion

1,053

1,101

1,116

1,119

1,049

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Revaluation of preferred stock warrants

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-3,284

2,880

625

401

Other non-cash items

1

46

255

71

44

-14

64

-156

41

-6

-117

9

46

59

-124

41

-23

-

-71

-706

-13

-

-

-

-

-

-

-

-

Change in assets and liabilities:
Accounts receivable

-4,929

-2,679

7,794

-2,920

-4,024

3,947

200

174

-2,783

961

1,203

-42

-1,947

439

2,295

-446

-2,161

-1,111

515

2,318

-2,434

-1,924

1,422

-16

2,227

-908

149

1,445

788

Prepaid expenses and other current assets

9,707

-7,811

7,799

1,420

11,522

-19,329

17,477

-1,121

7,894

-17,843

13,365

-10,313

1,241

-14,751

-6,196

-5,908

16,816

-4,625

15,098

11,807

5,598

-5,375

6,582

-128

1,902

505

125

-809

1,840

Other assets

1,425

3,483

345

-3,500

1,166

-635

87

-6

506

-716

140

-401

-72

-477

-682

656

-258

388

-49

300

-47

8

-323

229

241

-4,296

1,524

2,565

-2

Accounts payable

-436

1,588

1,434

-3,581

-1,836

3,894

-1,289

1,356

-3,068

4,940

1,300

-2,452

-1,139

-3,441

1,697

2,625

-1,609

-6,213

8,127

-1,212

-4,938

5,356

-3,307

3,774

-786

-2,635

5,604

0

-2,999

Deferred revenue

16,973

-11,721

8,636

-7,455

8,858

-7,863

11,571

-4,915

5,185

-8,466

9,449

-5,649

3,270

-15,168

15,546

-12,448

11,798

-31,110

26,329

-25,217

20,378

-47,871

48,287

-28,071

29,312

-49,343

48,467

-25,066

28,714

Accrued liabilities

15,972

-18,301

15,698

2,181

216

-12,206

18,722

1,608

-4,286

-10,793

11,699

4,924

-3,743

-15,496

12,939

9,818

-16,760

-5,073

15,884

2,696

-8,270

2,622

7,629

-1,705

-1,098

-3,514

3,718

623

-56

Other liabilities

-1,242

-618

1,274

-919

-3,148

950

335

1,116

138

-1,108

265

598

260

281

101

-28

-165

-152

-583

447

-58

-886

116

-199

71

67

-194

47

193

Net cash provided by operating activities

62,967

26,828

38,729

29,905

17,941

30,446

21,152

16,962

6,553

21,763

13,273

15,320

1,194

-6,464

37,849

12,110

-19,233

-18,196

31,173

-19,750

6,691

473

45,404

-6,544

29,142

-8,435

49,656

-7,094

29,579

Cash flows from investing activities
Purchases of property and equipment

19,965

10,806

8,029

9,431

14,060

13,175

7,961

5,204

4,883

6,212

7,423

7,737

4,770

6,855

3,617

9,417

4,800

2,369

1,738

2,660

1,486

1,276

1,311

1,211

1,285

2,165

2,016

1,644

1,544

Purchases of textbooks

36,830

-

-

-

0

-

-

-

-

-

-

-

-

91

244

109

442

71

951

2,133

29,142

13,345

46,688

9,818

42,963

13,755

66,266

8,738

33,488

Proceeds from disposition of textbooks

2,170

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from liquidations of textbooks

-

-

-

-

-

-

-

-

-

0

0

0

6,943

1,773

9,079

8,674

6,120

4,030

11,537

10,714

11,979

17,944

21,438

7,461

11,276

5,391

11,494

6,755

14,306

Purchases of investments

112,421

137,042

295,506

505,791

21,572

33,580

46,642

54,123

12,511

15,830

112,417

0

0

0

0

0

7,633

15,635

2,848

10,884

6,243

6,834

8,990

12,053

42,829

-

-

-

-

Proceeds from sale of investments

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

22,280

550

0

350

0

0

-

-

-

-

-

-

-

-

Maturities of investments

121,784

133,956

104,639

37,300

48,805

20,300

46,100

50,350

21,630

9,750

0

0

0

0

0

600

6,244

17,851

10,299

7,550

12,140

12,470

8,630

16,500

13,100

-

-

-

-

Acquisition of businesses, net of cash acquired

-

-

-

-

-

-

-

-

-

14,931

0

-188

188

1,191

700

25,164

0

-

-

-

-

10,000

0

43,372

500

-

-

-

-

Purchase of strategic equity investment

2,000

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash (used in) provided by investing activities

-47,262

-93,041

-145,635

-477,922

13,173

-36,455

-26,915

-23,415

4,236

-25,329

-105,341

-7,549

1,985

-6,364

3,498

-3,136

39

3,806

14,630

2,587

-12,752

2,557

-23,073

-3,633

-63,201

-71,949

-56,788

-3,627

-20,726

Cash flows from financing activities
Common stock issued under stock plans, net

2,667

7,377

10,515

10,226

6,982

5,653

5,413

12,828

5,222

10,094

3,800

7,002

2,763

990

4

1,110

0

1,108

659

5,303

6,626

-

-

-

-

-

-

-

-

Proceeds from exercise of common stock under employee stock plans

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-89

89

-

-

-

411

Payment of taxes related to the net share settlement of equity awards

46,836

3,495

8,825

6,207

76,044

3,420

5,355

4,674

35,640

2,213

3,052

2,232

12,618

1,722

817

1,909

6,331

630

608

3,081

4,391

206

186

134

3,454

-

-

-

-

Proceeds from Debt, Net of Issuance Costs

0

0

0

97,586

682,594

0

17

335,601

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchase of convertible senior notes capped call

0

0

0

12,150

85,050

0

0

39,227

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repurchase of common stock

0

0

0

0

20,000

0

0

20,000

0

-

-

-

-

-

-

-

-

0

0

0

2,263

604

0

0

0

-

-

-

-

Net cash (used in) provided by financing activities

-44,169

3,882

1,690

89,455

508,482

2,233

75

284,528

-30,418

7,858

148,191

-11,980

-9,855

-732

-813

-799

-6,331

478

51

2,222

-28

-99

72

1,520

-3,365

141,321

1,420

2,066

411

Net (decrease) increase in cash, cash equivalents and restricted cash

-28,464

-62,331

-105,216

-358,562

539,596

-3,776

-5,688

278,075

-19,629

4,292

56,123

-4,209

-6,676

-13,560

40,534

8,175

-25,525

-13,912

45,854

-14,941

-6,089

2,931

22,403

-8,657

-37,424

60,937

-5,712

-8,655

9,264

Supplemental cash flow data:
Interest

500

431

470

431

0

550

18

18

19

19

18

18

30

3

28

0

19

19

26

25

25

26

57

0

31

203

1,141

648

549

Income taxes

756

578

580

286

626

537

566

491

503

549

420

433

388

263

579

-150

402

141

115

148

423

107

73

85

360

41

47

250

91

Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases

1,572

1,450

1,522

1,199

1,126

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Non-cash investing and financing activities:
Accrued purchases of long-lived assets

8,020

5,584

-718

43

5,127

-1,783

-2,344

2,133

3,204

-139

2,568

-878

2,022

816

324

-1,117

2,310

772

-2,806

1,046

2,759

-1,604

1,208

2,867

2,661

-4,361

3,638

-462

4,400

Issuance of common stock related to prior acquisition

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

825

1,000

0

1,585

0

-

-

-

-

Issuance of common stock warrants in connection with consulting services

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

130