CHGG FY 2022 Earnings Report — Chegg, Inc. Revenue & Financial Results | Market Cap Arena

Chegg, Inc.CHGG

FY 2022 Earnings

Reported February 21, 2023

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2022	Prior Q	FY 2021	QoQ Change	YoY Change
Revenue	$767M	—	$776M	—	-1.2%
Op. Income	$9M	—	$78M	—	-88.5%
Gross Margin	74.3%	—	67.2%	—	7.1pp
Net Margin	34.8%	—	-0.2%	—	35.0pp
EPS (Diluted)	$1.78	—	$-0.01	—	17381.6%
Free Cash Flow	$153M	—	$179M	—	-14.7%

Revenue Flow

Item	Amount
REVENUE	$767M
Cost of Revenue	$197M
GROSS PROFIT	$570M
R&D Expenses	$197M
Selling & Marketing	$148M
General & Administrative	$216M
SG&A Expenses	$364M
Other Expenses	$0
Operating Expenses	$561M
Cost & Expenses	$758M
OPERATING INCOME	$9M
Interest Income	$12M
Interest Expense	$6M
Other Income/Expenses	$95M
INCOME BEFORE TAX	$104M
Income Tax Expense	-$163M
Net Income from Continuing Ops	$267M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$267M
Net Income Deductions	$65M
BOTTOM LINE NET INCOME	$201M
D&A	$92M
EBIT	$110M
EBITDA	$202M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$767M
Cost of Revenue	$197M
GROSS PROFIT	$570M
R&D Expenses	$197M
Selling & Marketing	$148M
General & Administrative	$216M
SG&A Expenses	$364M
Other Expenses	$0
Operating Expenses	$561M
Cost & Expenses	$758M
OPERATING INCOME	$9M
Interest Income	$12M
Interest Expense	$6M
Other Income/Expenses	$95M
INCOME BEFORE TAX	$104M
Income Tax Expense	-$163M
Net Income from Continuing Ops	$267M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$267M
Net Income Deductions	$65M
BOTTOM LINE NET INCOME	$201M
D&A	$92M
EBIT	$110M
EBITDA	$202M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$267M
Depreciation & Amortization	$92M
Stock-Based Compensation	$133M
Deferred Income Tax	-$169M
Other Non-Cash Items	-$73M
Change in Working Capital	$6M
OPERATING CASH FLOW	$256M
Capital Expenditure	-$103M
Acquisitions (Net)	-$407M
Purchases of Investments	-$731M
Sales/Maturities of Investments	$1.3B
Other Investing Activities	$2M
NET CASH FROM INVESTING	$105M
Net Debt Issuance	-$401M
Common Stock Repurchased	-$324M
Common Dividends Paid	$0
Other Financing Activities	-$20M
NET CASH FROM FINANCING	-$745M
FREE CASH FLOW	$153M
Net Change in Cash	-$380M

Balance Sheet

Item	Amount
Cash & Equivalents	$474M
Short-Term Investments	$584M
Net Receivables	$24M
Inventory	$0
Other Current Assets	$35M
TOTAL CURRENT ASSETS	$1.1B
PP&E (Net)	$223M
Goodwill	$615M
Intangible Assets	$78M
Long-Term Investments	$216M
Tax Assets	$168M
Other Non-Current Assets	$21M
TOTAL NON-CURRENT ASSETS	$1.3B
TOTAL ASSETS	$2.5B
Account Payables	$12M
Short-Term Debt	$0
Deferred Revenue	$56M
Other Current Liabilities	-$7M
TOTAL CURRENT LIABILITIES	$139M
Long-Term Debt	$1.2B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$8M
TOTAL NON-CURRENT LIABILITIES	$1.2B
TOTAL LIABILITIES	$1.3B
Common Stock	$126.0K
Additional Paid-In Capital	$1.2B
Retained Earnings	-$71M
Treasury Stock	$0
Accum. Other Comp. Income	-$57M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.1B
Minority Interest	$0
TOTAL EQUITY	$1.1B
TOTAL LIABILITIES & EQUITY	$2.5B
Total Debt	$1.2B
Net Debt	$736M