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Netflix Inc (NFLX) SEC Filing 10-K Annual report for the fiscal year ending Tuesday, December 31, 2019

Netflix Inc

CIK: 1065280 Ticker: NFLX

Exhibit 99.1
January 21, 2020

Fellow shareholders,

We had a strong finish to 2019, with Q4 revenue growing 31% year over year, bringing full year 2019 revenue to over $20 billion, while FY19 operating income rose 62% to $2.6 billion. During the quarter, we surpassed 100 million paid memberships outside of the US. Streaming entertainment is a global phenomenon and we’re working hard to build on our early progress.
(in millions except per share data and Streaming Content Obligations)Q4'18Q1'19Q2'19Q3'19Q4'19Q1'20 Forecast
Revenue$4,187  $4,521  $4,923  $5,245  $5,467  $5,731  
Y/Y % Growth27.4 %22.2 %26.0 %31.1 %30.6 %26.8 %
Operating Income$216  $459  $706  $980  $459  $1,033  
Operating Margin5.2 %10.2 %14.3 %18.7 %8.4 %18.0 %
Net Income$134  $344  $271  $665  $587  $750  
Diluted EPS$0.30  $0.76  $0.60  $1.47  $1.30  $1.66  
Global Streaming Paid Memberships139.26  148.86  151.56  158.33  167.09  174.09  
Y/Y % Growth25.9 %25.2 %21.9 %21.4 %20.0 %16.9 %
Global Streaming Paid Net Additions8.84  9.60  2.70  6.77  8.76  7.00  
Net cash (used in) operating activities$(1,235) $(380) $(544) $(502) $(1,462) 
Free Cash Flow*$(1,315) $(460) $(594) $(551) $(1,670) 
Adjusted EBITDA**$328  $584  $836  $1,107  $586  
Shares (FD)451.1  451.9  452.2  451.6  451.4  
Streaming Content Obligations*** ($B)19.3  18.9  18.5  19.1  19.5  
Note: Figures are consolidated, including DVD.
* Free cash flow represents Net Cash (used in) operating activities adjusted for purchases of property and equipment and change in other assets
** Adjusted EBITDA represents net income before interest expense and other income/expense, income taxes, depreciation and amortization of property and equipment and further adjusted to exclude other non-cash charges or non-recurring items
*** Corresponds to our total known streaming content obligations as defined in our financial statements and related notes in our most recently filed SEC Form 10-K

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The following information was filed by Netflix Inc (NFLX) on Tuesday, January 21, 2020 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

Cover
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Comprehensive Income (Parenthetical)
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)
Employee Benefit Plan
Employee Benefit Plan (Details)
Guarantees???Indemnification Obligations
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)
Long-Term Debt
Long-Term Debt (Maturities) (Details)
Long-Term Debt (Narrative) (Details)
Long-Term Debt (Revolving Credit Facility) (Details)
Long-Term Debt (Summary Of Long-Term Debt) (Details)
Long-Term Debt (Tables)
Organization And Summary Of Significant Accounting Policies
Organization And Summary Of Significant Accounting Policies (Computation Of Net Income Per Share) (Details)
Organization And Summary Of Significant Accounting Policies (Narrative) (Details)
Organization And Summary Of Significant Accounting Policies (Policy)
Organization And Summary Of Significant Accounting Policies (Summary Of Potential Common Shares Excluded From Diluted Calculation) (Details)
Organization And Summary Of Significant Accounting Policies (Tables)
Organization And Summary Of Significant Accounting Policies Organization And Summary Of Significant Accounting Policies (Revenue And Membership Information) (Details)
Segment And Geographic Information
Segment Information (Long-Lived Assets By Geographic Areas) (Details)
Segment Information (Narrative) (Details)
Segment Information (Tables)
Selected Quarterly Financial Data (Details)
Selected Quarterly Financial Data (Tables)
Selected Quarterly Financial Data (Unaudited)
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 Stockholders' Equity (Accumulated Other Comprehensive Loss) (Details)
Ticker: NFLX
CIK: 1065280
Form Type: 10-K Annual Report
Accession Number: 0001065280-20-000040
Submitted to the SEC: Wed Jan 29 2020 4:03:25 PM EST
Accepted by the SEC: Wed Jan 29 2020
Period: Tuesday, December 31, 2019
Industry: Video Tape Rental

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