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Table of Contents
62
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, 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
Stock-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 restricted
stock units (RSUs). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — — 873 1 (3,980) — — (3,979)
Warrant exercises. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — — 104 — — — — —
Issuance of common stock in connection with acquisition . . . . . — — 408 — 2,585 — — 2,585
Repurchase of common stock . . . . . . . . . . . . . . . . . . . . . . . . . . . — — (89) — (604) — — (604)
Stock-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
Issuance of common stock upon exercise of stock options and
ESPP . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,165 2 13,694 — — 13,696
Net issuance of common stock for settlement of restricted
stock units (RSUs). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — — 1,624 2 (8,712) — — (8,710)
Warrant exercises. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — — 368 — — — — —
Issuance of common stock in connection with acquisition . . . . . — — 125 — 825 — — 825
Repurchase of common stock . . . . . . . . . . . . . . . . . . . . . . . . . . . — — (190) — (1,185) — — (1,185)
Stock-based compensation expense . . . . . . . . . . . . . . . . . . . . . . — — — — 38,775 — — 38,775
Other comprehensive loss. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — — — — — (159) — (159)
Net loss . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — — — — — — (59,210) (59,210)
Balance at December 31, 2015 . . . . . . . . . . . . . . . . . . . . . . . . . — $ — 88,100 $ 88 $ 560,242 $ (172) $ (329,083) $ 231,075
See Notes to Consolidated Financial Statements.