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Table of Contents
61
CHEGG, INC.
CONSOLIDATED STATEMENTS OF CONVERTIBLE PREFERRED STOCK
AND STOCKHOLDERS’ EQUITY (DEFICIT)
(in thousands)
Convertible
Preferred Stock Common Stock Additional
Paid-In
Capital
Accumulated
Other
Comprehensive
Income (Loss)
Accumulated
Deficit
Total
Stockholders’
Equity (Deficit)Shares Amount Shares Par Value
Balances at December 31, 2011. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 59,692 $ 182,218 12,201 $ 12 $ 48,316 — $ (100,222) $ (51,894)
Issuance of Series F convertible preferred stock, net. . . . . . . . . . . . . . . . . . 3,123 24,983 — — — — — —
Cancellation of shares held in escrow from acquisitions. . . . . . . . . . . . . . . — — (18) — (146) — — (146)
Issuance of common stock warrants . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — — — — 73 — — 73
Issuance of restricted shares. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — — 15 — — — — —
Issuance of common stock upon exercise of stock options . . . . . . . . . . . . . — — 368 — 552 — — 552
Repurchase of common stock . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — — (319) — (3,335) — — (3,335)
Share-based compensation expense. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — — — — 17,616 — — 17,616
Other comprehensive income. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — — — — — 50 — 50
Net loss. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — — — — — — (49,043) (49,043)
Balances at December 31, 2012. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 62,815 207,201 12,247 12 63,076 50 (149,265) (86,127)
Issuance of common stock upon exercise of stock options . . . . . . . . . . . . . — — 931 1 3,365 — — 3,366
Issuance of preferred stock and common stock upon exercise of stock
warrants . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 37 10 — 118 — — 118
Conversion of preferred stock to common stock . . . . . . . . . . . . . . . . . . . . . (62,820) (207,238) 53,912 54 207,184 — — 207,238
Issuance of common stock for settlement of restricted stock units (RSUs).— — 307 — — — — —
Shares withheld related to net share settlement of RSUs. . . . . . . . . . . . . . . — — (115) — (1,034) — — (1,034)
Issuance of common stock, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — — 14,400 15 162,868 — — 162,883
Deemed dividend to preferred stockholders . . . . . . . . . . . . . . . . . . . . . . . . — — — — 102,557 — — 102,557
Accretion of deemed dividend to preferred stockholders . . . . . . . . . . . . . . — — — — (102,557) — — (102,557)
Vesting of common stock warrants . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — — — — 130 — — 130
Issuance of common stock upon exercise of common stock warrants . . . . — — 16 — — — — —
Conversion of preferred stock warrants to common stock warrants . . . . . . — — — — 7,097 — — 7,097
Share-based compensation expense. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — — — — 36,475 — — 36,475
Other comprehensive loss . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — — — — — (56) — (56)
Net loss. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — — — — — — (55,850) (55,850)
Balances at December 31, 2013. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — — 81,708 82 479,279 (6) (205,115) 274,240
Issuance of common stock upon exercise of stock options and ESPP. . . . . — — 1,004 1 2,712 — — 2,713
Net issuance of common stock for settlement of RSUs. . . . . . . . . . . . . . . . — — 873 1 (3,980) — — (3,979)
Issuance of common stock upon exercise of common stock warrants . . . . — — 104 — — — — —
Issuance of common stock in connection with acquisition . . . . . . . . . . . . . — — 408 — 2,585 — — 2,585
Repurchase of common stock . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — — (89) — (604) — — (604)
Share-based compensation expense. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — — — — 36,853 — — 36,853
Other comprehensive loss . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — — — — — (7) — (7)
Net loss. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — — — — — — (64,758) (64,758)
Balances at December 31, 2014. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — $ — 84,008 $ 84 $ 516,845 $ (13) $ (269,873) $ 247,043
See Notes to Consolidated Financial Statements.