CHEGG INC
For the period ended Dec 31, 2024. Filed Feb 24, 2025.
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FY2024 · Filed Feb 24, 2025
CHGG$0.59-2.9%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
| Years Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Cash flows from operating activities | |||
| Net (loss) income | $(837,068) | $18,180 | $266,638 |
| Adjustments to reconcile net (loss) income to net cash provided by operating activities: | |||
| Share-based compensation expense | 84,614 | 133,502 | 133,456 |
| Depreciation and amortization expense | 78,344 | 129,718 | 89,997 |
| Deferred tax assets | 143,319 | 26,575 | (168,679) |
| (Gain)/loss on early extinguishments of debt | (19,515) | (85,926) | (93,519) |
| Loss contingency accrual | — | 7,000 | — |
| Impairment expense | 677,239 | 3,600 | — |
| Loss from write-offs of property and equipment | 5,795 | 4,137 | 3,549 |
| Amortization of debt issuance costs | 2,147 | 3,156 | 5,166 |
| Operating lease expense, net of accretion | 5,864 | 6,079 | 6,327 |
| Realized loss on sale of investments | 27 | 2,106 | 9,675 |
| Gain on textbook library, net | — | — | (4,976) |
| Print textbook depreciation expense | — | — | 1,610 |
| Gain on foreign currency remeasurement of purchase consideration | — | — | (4,628) |
| Impairment on lease related assets | 5,557 | — | 5,225 |
| Other non-cash items | 656 | (1,228) | 378 |
| Change in assets and liabilities, net of effect of acquisition of business: | |||
| Accounts receivable | 7,771 | (7,799) | (3,752) |
| Prepaid expenses and other current assets | (41,732) | 3,476 | 17,191 |
| Other assets | 1,130 | 10,829 | 14,563 |
| Accounts payable | (12,376) | 13,057 | (4,144) |
| Deferred revenue | (15,885) | (1,585) | 7,538 |
| Accrued liabilities | 47,103 | (7,342) | (20,111) |
| Other liabilities | (7,785) | (11,337) | (5,768) |
| Net cash provided by operating activities | 125,205 | 246,198 | 255,736 |
| Cash flows from investing activities | |||
| Purchases of property and equipment | (74,953) | (83,052) | (103,092) |
| Purchases of textbooks | — | — | (3,815) |
| Proceeds from disposition of textbooks | — | 9,787 | 6,003 |
| Purchases of investments | (170,950) | (637,939) | (730,509) |
| Proceeds from sale of investments | 70,077 | 394,533 | 458,489 |
| Maturities of investments | 171,671 | 597,197 | 884,940 |
| Proceeds from sale of strategic equity investments | 15,500 | — | — |
| Acquisition of business, net of cash acquired | — | — | (401,125) |
| Purchases of strategic equity investments | — | (11,853) | (6,000) |
| Net cash provided by investing activities | 11,345 | 268,673 | 104,891 |
| Cash flows from financing activities | |||
| Proceeds from common stock issued under stock plans, net | 2,636 | 4,165 | 6,477 |
| Payment of taxes related to the net share settlement of equity awards | (9,239) | (16,440) | (26,549) |
| Repayment of convertible senior notes | (96,520) | (505,986) | (401,203) |
| Proceeds from exercise of convertible senior notes capped call | — | 297 | — |
| Payment of withholding tax | (3,450) | — | — |
| Repurchase of common stock | (2,569) | (334,806) | (323,528) |
| Net cash used in financing activities | (109,142) | (852,770) | (744,803) |
| Effect of exchange rate changes | (1,025) | 21 | 4,137 |
| Net increase (decrease) in cash, cash equivalents and restricted ca | 26,383 | (337,878) | (380,039) |
| Cash, cash equivalents and restricted cash, beginning of period | 137,976 | 475,854 | 855,893 |
| Cash, cash equivalents and restricted cash, end of period | $164,359 | $137,976 | $475,854 |
| Years Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Supplemental cash flow data: | |||
| Cash paid during the period for: | |||
| Interest | $449 | $741 | $875 |
| Income taxes, net of refunds | $8,085 | $11,074 | $6,841 |
| Cash paid for amounts included in the measurement of lease liabilities: | |||
| Operating cash flows from operating leases | $7,243 | $9,042 | $8,863 |
| Right of use assets obtained in exchange for lease obligations: | |||
| Operating leases | $10,108 | $12,407 | $10,232 |
| Non-cash investing and financing activities: | |||
| Accrued purchases of long-lived assets | $5,850 | $9,650 | $4,927 |
| December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Reconciliation of cash, cash equivalents and restricted cash: | |||
| Cash and cash equivalents | $161,475 | $135,757 | $473,677 |
| Restricted cash included in other current assets | 956 | — | 63 |
| Restricted cash included in other assets | 1,928 | 2,219 | 2,114 |
| Total cash, cash equivalents and restricted cash | $164,359 | $137,976 | $475,854 |
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