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Exhibit 99.1
January 22, 2014
Fellow Shareholders,
We ended 2013 with over 44 million members. We had higher domestic net additions than in 2012, growing international success, and an impressive first slate of original series. We expect to end Q1 with 48 million members.
Our summary results, and forecast for Q1, are below.
(in millions except per share data) | Q4 '12 | Q1 '13 | Q2 '13 | Q3 '13 | Q4 '13 | Q1 '14 Forecast | ||||||||||||
Domestic: | ||||||||||||||||||
Net Additions | 2.05 | 2.03 | 0.63 | 1.29 | 2.33 | 2.25 | ||||||||||||
Total Members | 27.15 | 29.17 | 29.81 | 31.09 | 33.42 | 35.67 | ||||||||||||
Paid Members | 25.47 | 27.91 | 28.62 | 29.93 | 31.71 | 34.26 | ||||||||||||
Revenue | $ | 589 | $ | 639 | $ | 671 | $ | 701 | $ | 741 | $ | 796 | ||||||
Contribution Profit | $ | 113 | $ | 131 | $ | 151 | $ | 166 | $ | 174 | $ | 198 | ||||||
Contribution Margin | 19.2 | % | 20.6 | % | 22.5 | % | 23.7 | % | 23.4 | % | 24.9 | % | ||||||
International: | ||||||||||||||||||
Net Additions | 1.81 | 1.02 | 0.61 | 1.44 | 1.74 | 1.60 | ||||||||||||
Total Members | 6.12 | 7.14 | 7.75 | 9.19 | 10.93 | 12.53 | ||||||||||||
Paid Members | 4.89 | 6.33 | 7.01 | 8.08 | 9.72 | 11.52 | ||||||||||||
Revenue | $ | 101 | $ | 142 | $ | 166 | $ | 183 | $ | 221 | $ | 267 | ||||||
Contribution Profit (Loss) | $ | (105 | ) | $ | (77 | ) | $ | (66 | ) | $ | (74 | ) | $ | (57 | ) | $ | (42 | ) |
Contribution Margin | -103.2 | % | -54.2 | % | -39.7 | % | -40.6 | % | -25.9 | % | -15.7 | % | ||||||
Total (including DVD): | ||||||||||||||||||
Revenue | $ | 945 | $ | 1,024 | $ | 1,069 | $ | 1,106 | $ | 1,175 | ||||||||
Operating Income | $ | 20 | $ | 32 | $ | 57 | $ | 57 | $ | 82 | ||||||||
Net Income | $ | 8 | $ | 3 | $ | 29 | $ | 32 | $ | 48 | $ | 48 | ||||||
EPS | $ | 0.13 | $ | 0.05 | $ | 0.49 | $ | 0.52 | $ | 0.79 | $ | 0.78 | ||||||
Free Cash Flow | $ | (51 | ) | $ | (42 | ) | $ | 13 | $ | 7 | $ | 5 | ||||||
Shares (FD) | 59.1 | 60.1 | 60.6 | 61.0 | 61.3 | |||||||||||||
1 | |
The following information was filed by Netflix Inc (NFLX) on Wednesday, January 22, 2014 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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Form Type: 10-K Annual Report
Accession Number: 0001065280-14-000006
Submitted to the SEC: Fri Jan 31 2014 7:14:52 PM EST
Accepted by the SEC: Mon Feb 03 2014
Period: Tuesday, December 31, 2013
Industry: Video Tape Rental
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