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Revenues
3 Months Ended
Mar. 31, 2022
Revenue from Contract with Customer [Abstract]  
Revenues Revenues
Revenue Recognition

Revenues are recognized when control of the promised goods or services is transferred to our customers, in an amount that reflects the consideration we expect to be entitled to in exchange for those goods or services. The majority of our revenues are recognized over time as services are performed, with certain revenues being recognized at a point in time.
The following tables set forth our total net revenues for the periods shown disaggregated for our Chegg Services and Required Materials product lines (in thousands, except percentages):
 Three Months Ended
March 31,
Change
 20222021$%
Chegg Services$184,812 $162,351 $22,461 14 %
Required Materials17,432 36,027 (18,595)(52)
Total net revenues$202,244 $198,378 $3,866 

During the three months ended March 31, 2022 and 2021, we recognized $30.9 million and $29.5 million, respectively, of revenues that were included in our deferred revenue balance at the beginning of each respective reporting period. During the three months ended March 31, 2022 and 2021, we recognized $4.8 million and $10.7 million, respectively, of operating lease income from print textbook rentals that we own.

Contract Balances

The following table presents our accounts receivable, net, contract assets and deferred revenue balances (in thousands, except percentages):
 Change
 March 31,
2022
December 31, 2021$%
Accounts receivable, net$19,918 $17,850 $2,068 12 %
Contract assets13,670 14,231 (561)(4)
Deferred revenue60,458 35,143 25,315 72 
During the three months ended March 31, 2022 our accounts receivable, net balance increased by $2.1 million, or 12%, primarily due to timing of billings and seasonality of our business. During the three months ended March 31, 2022, our contract assets balance decreased by $0.6 million, or 4%, primarily due to our Thinkful service. During the three months ended March 31, 2022, our deferred revenue balance increased by $25.3 million, or 72%, primarily due to acquired deferred revenue in conjunction with our acquisition of Busuu and increased bookings and seasonality of our business.