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Netflix Inc (NFLX) SEC Filing 10-K Annual Report for the fiscal year ending Friday, December 31, 2021

Netflix Inc

CIK: 1065280 Ticker: NFLX

Exhibit 99.1
January 20, 2022

Fellow shareholders,

We achieved several milestones in 2021: we had the biggest TV show of the year (Squid Game), our two biggest film releases of all time (Red Notice and Don’t Look Up) and Netflix was the most Emmy-winning and most nominated TV network and the most Oscar-winning and nominated movie studio of 2021. Full year revenue of $30 billion grew 19% year over year while operating income of $6.2 billion rose 35% year over year. We finished Q4 with 222m paid memberships (with 8.3m paid net adds in Q4). Even in a world of uncertainty and increasing competition, we’re optimistic about our long-term growth prospects as streaming supplants linear entertainment around the world. We're continually improving Netflix so that we can please our members, grow our share of leisure time and lead in this transition. Our summary results and forecast are below.
(in millions except per share data)Q4'20Q1'21Q2'21Q3'21Q4'21Q1'22 Forecast
Revenue$6,644 $7,163 $7,342 $7,483 $7,709 $7,903 
Y/Y % Growth21.5 %24.2 %19.4 %16.3 %16.0 %10.3 %
Operating Income$954 $1,960 $1,848 $1,755 $632 $1,765 
Operating Margin14.4 %27.4 %25.2 %23.5 %8.2 %22.3 %
Net Income$542 $1,707 $1,353 $1,449 $607 $1,304 
Diluted EPS$1.19 $3.75 $2.97 $3.19 $1.33 $2.86 
Global Streaming Paid Memberships203.66 207.64 209.18 213.56 221.84 224.34 
Y/Y % Growth21.9 %13.6 %8.4 %9.4 %8.9 %8.0 %
Global Streaming Paid Net Additions8.51 3.98 1.54 4.38 8.28 2.50 
Net cash provided by (used in) operating activities$(138)$777 $(64)$82 $(403)
Free Cash Flow*$(284)$692 $(175)$(106)$(569)
Shares (FD)455.3 455.6 455.1 454.9 455.8 
Note: Figures are consolidated, including DVD.
* Free cash flow represents Net Cash provided by (used in) operating activities less purchases of property and equipment and change in other assets.


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The following information was filed by Netflix Inc (NFLX) on Thursday, January 20, 2022 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Netflix Inc's 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Audit Information
Cover
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Operations
Consolidated Statements Of Stockholders??? Equity
Balance Sheet Components
Balance Sheet Components (Tables)
Balance Sheet Components - Components Of Content Assets (Details)
Balance Sheet Components - Lease Maturities (Details)
Balance Sheet Components - Leases (Details)
Balance Sheet Components - Other Current Assets (Details)
Balance Sheet Components - Property And Equipment And Accumulated Depreciation (Details)
Cash, Cash Equivalents And Restricted Cash
Cash, Cash Equivalents And Restricted Cash (Details)
Cash, Cash Equivalents And Restricted Cash (Tables)
Commitments And Contingencies
Commitments And Contingencies (Expected Timing Of Payments For Commitments) (Details)
Commitments And Contingencies (Streaming Content) (Narrative) (Details)
Commitments And Contingencies (Tables)
Debt
Debt (Tables)
Debt - Narrative (Details)
Debt - Revolving Line Of Credit (Details)
Debt - Summary Of Long-Term Debt (Details)
Earnings Per Share
Earnings Per Share (Tables)
Earnings Per Share - Antidilutive Shares (Details)
Earnings Per Share - Calculation Of Eps (Details)
Employee Benefit Plan
Employee Benefit Plan (Tables)
Employee Benefit Plan - Multiemployer Plan (Details)
Employee Benefit Plan - Narrative (Details)
Guarantees???Indemnification Obligations
Guarantees???Indemnification Obligations (Details)
Income Taxes
Income Taxes (Components Of Provision For Income Taxes) (Details)
Income Taxes (Deferred Tax Assets And Liabilities) (Details)
Income Taxes (Narrative) (Details)
Income Taxes (Reconciliation Of Provision For Income Taxes) (Details)
Income Taxes (Schedule Of Income Before Income Taxes) (Details)
Income Taxes (Summary Of Changes In Unrecognized Tax Benefits) (Details)
Income Taxes (Tables)
Organization And Summary Of Significant Accounting Policies
Organization And Summary Of Significant Accounting Policies (Narrative) (Details)
Organization And Summary Of Significant Accounting Policies (Policy)
Revenue Recognition
Revenue Recognition (Tables)
Revenue Recognition - Additional Information (Details)
Revenue Recognition - Revenue And Membership Information (Details)
Segment And Geographic Information
Segment And Geographic Information (Long-Lived Assets By Geographic Areas) (Details)
Segment And Geographic Information (Narrative) (Details)
Segment And Geographic Information (Tables)
Stockholders' Equity
Stockholders' Equity (Stock Option Plans) (Narrative) (Details)
Stockholders' Equity (Summary Of Activity Related To Stock Option Plans) (Details)
Stockholders' Equity (Summary Of Assumptions Used To Value Stock Option Grants) (Details)
Stockholders' Equity (Tables)
Stockholders' Equity (Voting Rights) (Narrative) (Details)
Stockholders' Equity - Stock Repurchases (Details)
Ticker: NFLX
CIK: 1065280
Form Type: 10-K Annual Report
Accession Number: 0001065280-22-000036
Submitted to the SEC: Thu Jan 27 2022 5:03:33 PM EST
Accepted by the SEC: Thu Jan 27 2022
Period: Friday, December 31, 2021
Industry: Video Tape Rental

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