Chegg 2013 Annual Report Download - page 114
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CHEGG, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share amounts)
Years Ended December 31,
2013 2012 2011
Net revenues ................................................... $255,575 $213,334 $172,018
Cost of revenues ................................................ 175,060 145,669 127,012
Gross profit .................................................... 80,515 67,665 45,006
Operating expenses:
Technology and development .................................. 41,944 39,315 29,591
Sales and marketing ......................................... 50,302 51,082 28,400
General and administrative .................................... 40,486 25,117 20,328
Loss (gain) on liquidation of textbooks .......................... (1,186) (2,594) 2,785
Total operating expenses .................................. 131,546 112,920 81,104
Loss from operations ............................................. (51,031) (45,255) (36,098)
Interest and other expense, net:
Interest expense, net ......................................... (3,818) (4,393) (3,558)
Other income (expense), net ................................... (359) 634 1,855
Total interest and other expense, net ................................ (4,177) (3,759) (1,703)
Loss before provision (benefit) for income taxes ....................... (55,208) (49,014) (37,801)
Provision (benefit) for income taxes ............................. 642 29 (200)
Net loss ....................................................... $ (55,850) $ (49,043) $ (37,601)
Deemed dividend to preferred stockholders ........................... (102,557) — —
Net loss attributable to common stockholders ......................... $(158,407) $ (49,043) $ (37,601)
Net loss per share attributable to common stockholders, basic and diluted . . . $ (7.58) $ (4.39) $ (4.45)
Weighted-average shares used to compute net loss per share attributable to
common stockholders, basic and diluted ........................... 20,902 11,183 8,453
See Notes to Consolidated Financial Statements.
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