Chegg 2013 Annual Report Download - page 113

CHEGG, INC.
CONSOLIDATED BALANCE SHEETS
(in thousands, except for number of shares and par value)
December 31,
2013 2012
Assets
Current assets:
Cash and cash equivalents .................................................. $ 76,864 $ 21,030
Short-term investments .................................................... 37,071 —
Accounts receivable, net of allowance for doubtful accounts of $317 and $502 at
December 31, 2013 and 2012, respectively ................................... 7,091 7,208
Prepaid expenses ......................................................... 2,134 543
Deferred tax assets ........................................................ 37 588
Other current assets ....................................................... 1,112 1,803
Total current assets ................................................... 124,309 31,172
Long-term investments ........................................................ 24,320 —
Textbook library, net .......................................................... 105,108 88,487
Property and equipment, net .................................................... 18,964 18,867
Goodwill ................................................................... 49,545 49,545
Intangible assets, net .......................................................... 3,311 6,664
Other assets ................................................................. 1,814 1,632
Total assets .......................................................... $327,371 $ 196,367
Liabilities, convertible preferred stock and stockholders’ equity (deficit)
Current liabilities:
Accounts payable ......................................................... $ 4,078 $ 4,187
Deferred revenue ......................................................... 22,804 20,032
Accrued liabilities ........................................................ 21,270 20,230
Preferred stock warrant liabilities ............................................ — 6,627
Debt obligations, current ................................................... — 19,386
Total current liabilities ................................................. 48,152 70,462
Deferred tax liabilities ..................................................... — 549
Other liabilities .......................................................... 4,979 4,282
Total long-term liabilities .................................................. 4,979 4,831
Total liabilities ....................................................... 53,131 75,293
Commitments and contingencies
Convertible preferred stock, $0.001 par value –no shares authorized, issued and outstanding,
and aggregate liquidation preference of $0 as of December 31, 2013; 76,388,007 shares
authorized, 62,814,746 shares issued and outstanding, and aggregate liquidation preference
of $210,845 as of December 31, 2012 ........................................... — 207,201
Stockholders’ equity (deficit):
Preferred stock, $0.001 par value –10,000,000 shares authorized, no shares issued and
outstanding at December 31, 2013; no shares authorized, issued or outstanding at
December 31, 2012 ..................................................... — —
Common stock, $0.001 par value –400,000,000 and 120,000,000 shares authorized at
December 31, 2013 and 2012, respectively; 81,708,202 and 13,092,352 shares issued
and outstanding at December 31, 2013 and 2012, respectively .................... 82 12
Additional paid-in capital common stock ...................................... 479,279 63,076
Accumulated other comprehensive income (loss) ................................ (6) 50
Accumulated deficit ....................................................... (205,115) (149,265)
Total stockholders’ equity (deficit) ....................................... 274,240 (86,127)
Total liabilities, convertible preferred stock and stockholders’ equity (deficit) ......... $327,371 $ 196,367
See Notes to Consolidated Financial Statements.
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