CHEGG, INC financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data CHEGG, INC files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	254	255	321	411	644	776	767	716	618	377
Cost of revenue	120	80.2	80	92.2	205	255	197	226	181	152
Gross profit	134	175	241	319	439	521	570	490	437	225
Research and development	66.3	81.9	114	140	171	179	197	192	170	93.5
Selling and marketing	53.9	51.2	54.7	63.6	81.9	105	148	127	108	68.8
General and administrative	55.4	64.4	77.7	97.6	129	159	216	236	218	177
Operating expenses	175	194	247	301	382	443	561	558	1,174	342
Operating income	-40.1	-19	-6.22	17.8	56.8	78.1	8.96	-67.7	-737	-117
Interest expense							6.04	3.77	2.59	0.59
Other non-operating income	-0.47	0.49	-7.24	-24.8	-57.6	-72.4	95	118	48.7	16.7
Pre-tax income	-40.5	-18.5	-13.5	-6.97	-0.86	5.74	104	50.3	-688	-100
Income tax	1.71	1.8	1.43	2.63	5.36	7.2	-163	32.1	149	3.28
Net income	-42.2	-20.3	-14.9	-9.61	-6.22	-1.46	267	18.2	-837	-103
EBITDA	-30.2	-5.17	10.6	42	89.4	128	73.1	37.6
EPS, basic	-0.47	-0.20	-0.13	-0.08	-0.05	-0.01	2.09	0.16	-8.10	-0.96
EPS, diluted	-0.47	-0.20	-0.13	-0.08	-0.05	-0.01	1.34	-0.34	-8.10	-0.96
Shares, basic (weighted)	90.5	100	113	119	125	141	128	117	103	107
Shares, diluted (weighted)	90.5	100	113	119	125	141	150	129	103	107

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	77.3	126	375	388	480	854	474	136	161	31.1
Short-term investments	0	81.7	93.3	381	666	692	584	194	154	41.7
Receivables	10.5	10.9	12.7	11.5	12.9	17.9	23.5	31.4	23.6	15.6
Other current assets	21	7.85	9.51	16.6	11.8	23.8	34.8	32.4	81.1	16.9
Total current assets	111	229	495	807	1,183	1,623	1,144	415	438	122
Property, plant and equipment	35.3	47.5	59.9	87.4	126	170	204	183	171	115
Lease right-of-use assets			0	15.9	24.2	18.1	18.8	25.1	22.3	13.2
Goodwill	116	125	150	215	285	290	615	632	0
Intangible assets	20.7	21.2	25.9	34.7	51.2	40.6	78.3	52.4	10.3	6.04
Long-term investments	0	20.3	16.1	310	524	746	216	250	213	12.4
Other non-current assets	4.41	3.77	14.6	18.8	24	19.7	20.6	28.4	15.5	9.61
Total assets	291	447	761	1,489	2,251	2,919	2,465	1,727	869	278
Accounts payable	5.18	7.05	8.18	7.36	8.55	12	12.4	28.2	15.2	3.26
Accrued liabilities	44.3	31.1	34.1	40	68.6	67.2	70.2	77.9	115	54.2
Deferred revenue	14.8	13.4	17.4	18.8	32.6	35.1	56.3	55.3	39.2	29.7
Total current liabilities	64.3	51.6	59.7	71.4	110	114	139	518	528	141
Long-term debt		0	284	900	1,507	1,678	1,189	243	127	0
Lease liabilities			0	14.5	19.3	12.4	13.4	18.1	18.5	15.2
Other non-current liabilities		4.31	6.96	3.96	5.71	7.38	7.99	3.33	1.78	2.24
Total liabilities	68.7	55.9	350	990	1,642	1,812	1,349	783	676	158
Paid-in capital	593	783	818	916	1,031	1,449	1,245	1,032	1,115	1,145
Retained earnings	-371	-392	-407	-416	-423	-337	-70.6	-52.4	-889	-993
Other comprehensive income	-0.18	-0.28	-1.02	-1.1	1.53	-5.33	-57.5	-34.7	-32.2	-33
Shareholders' equity	222	391	411	499	610	1,107	1,117	945	193	120
Total equity	222	391	411	499	610	1,107	1,117	945	193	120
Total liabilities and equity	291	447	761	1,489	2,251	2,919	2,465	1,727	869	278
Shares outstanding	91.7	110	116	122	129	137	126	103	105	111

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	-42.2	-20.3	-14.9	-9.61	-6.22	-1.46	267	18.2	-837	-103
Depreciation and amortization	9.9	13.8	16.8	24.2	32.6	49.6	64.1	105
Stock-based compensation	41.8	38.4	52	64.9	84.1	109	133	134	84.6	31.9
Deferred income tax	0.45	0.28	0.22	-0.04	-0.11	-1.1	-169	26.6	143	1.35
Change in receivables	-0.13	-0.18	-1.54	1.83	-0.4	-5	-3.75	-7.8	7.77	8.44
Change in payables	-0.73	2.65	0.89	-2.4	1.12	3.24	-4.14	13.1	-12.4	-9.66
Cash from operations	24.3	51.6	75.1	113	236	273	256	246	125	15.5
Capital expenditures	-24.7	-26.1	-31.2	-42.3	-81.3	-94.2	-103	-83.1	-75	-28.1
Acquisitions	-27.1	-14.9	-34.7	-79.1	-92.8	-7.89	-401	0	0
Purchases of investments	-1.02	0	-10	-960	-1,046	-1,688	-731	-638	-171	-0.79
Sales and maturities of investments	22.8	16.4	1.8	53.3	540	1,205	885	597	172	130
Cash from investing	-5.96	-136	-82.5	-703	-733	-366	105	269	11.3	282
Stock issued	0	148	0	0	0	1,091	0	0
Share buybacks				-20	0	-300	-324	-335	-2.57	0
Cash from financing	-8.68	134	256	604	589	467	-745	-853	-109	-428
Exchange rate effect					0	0	4.14	0.02	-1.03	-0.26
Net change in cash	10.3	49.1	249	13.5	92.3	374	-380	-338	26.4	-131
Free cash flow	-0.43	25.4	43.9	71.1	155	179	153	163	50.3	-12.6
Interest paid	0.05	0.09	0.61	1.33	1.77	1.05	0.88	0.74	0.45	0.22
Income taxes paid	1.09	1.79	2.1	2.07	3.44	7.39	6.84	11.1	8.09	4.59

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $0.73 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	58.0%	Gross profit / revenue.
Operating margin	-20.9%	Operating income / revenue.
Pre-tax margin	-19.5%	Pre-tax income / revenue.
Net margin	-20.0%	Net income / revenue.
FCF margin	-2.6%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	3.8%	Cash from operations / revenue.
Return on equity (ROE)	-44.7%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	-23.3%	Net income / average total assets.
Return on invested capital (ROIC)	-59.4%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue	19.5%	Research and development expense / revenue.
Stock-based pay / revenue	6.7%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	6.4%	Capital expenditures / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	-39.0%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-21.1%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	-10.2%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	-48.5%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	-26.6%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	-12.5%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	-87.6%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	-60.7%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	-42.0%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	-125.1%	Free cash flow vs the same period a year earlier. Only from a positive base.
Book value growth, 1y	-38.0%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	-52.5%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	-27.8%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	-68.0%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-51.7%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	-34.2%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	4.1%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-10.5%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-3.0%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.17x	Current assets / current liabilities.
Quick ratio	0.89x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.78x	(Cash + short-term investments) / current liabilities.
Liabilities / assets	47.9%	Total liabilities / total assets.
Interest coverage	-412x	Operating income / interest expense.
Working capital	$15.7M	Current assets - current liabilities.
Goodwill and intangibles / assets	1.7%	(Goodwill + intangible assets) / total assets.
Tangible book value	$114.7M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	1.17x	Revenue / average total assets.
Fixed asset turnover	2.80x	Revenue / average property, plant and equipment.
Receivables turnover	24.7x	Revenue / average receivables.
Days sales outstanding	15 days	365 x average receivables / revenue.
Days payables	16 days	365 x average accounts payable / cost of revenue.
Capex / operating cash flow	169.9%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	-$0.48	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$2.38	Revenue / diluted weighted shares.
FCF per share	-$0.06	Free cash flow / diluted weighted shares.
Operating cash flow per share	$0.09	Cash from operations / diluted weighted shares.
Book value per share	$1.07	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$1.03	Tangible book value / shares outstanding.
Cash per share	$0.65	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$81.6M	Share price x shares outstanding.
Enterprise value	$9.3M	Market cap + total debt - cash - short-term investments.
P/S	0.31x	Market cap / revenue.
P/B	0.69x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	0.71x	Market cap / tangible book value, when positive.
P/OCF	8.19x	Market cap / cash from operations, when positive.
EV/Sales	0.03x	Enterprise value / revenue.
FCF yield	-8.5%	Free cash flow / market cap.
Earnings yield	-65.0%	Net income / market cap (the inverse of P/E).

What was CHEGG, INC's revenue in fiscal 2025?

CHEGG, INC reported revenue of $376.9M for fiscal 2025, 39% lower than the year before.

Was CHEGG, INC profitable in fiscal 2025?

No. It reported a net loss of $103.4M.

How much free cash flow did CHEGG, INC generate in fiscal 2025?

Cash from operations of $15.5M minus capital expenditures of $28.1M left free cash flow of -$12.6M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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