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Netflix Inc (NFLX) SEC Filing 10-K Annual report for the fiscal year ending Thursday, December 31, 2020

Netflix Inc

CIK: 1065280 Ticker: NFLX

Exhibit 99.1
January 19, 2021

Fellow shareholders,

2020 was an incredibly difficult year with extraordinary loss for so many families, new restrictions that none of us have ever had to live with before and great uncertainty. We’re enormously grateful that in these uniquely challenging times we’ve been able to provide our members around the world with a source of escape, connection and joy while continuing to build our business. With 8.5m paid net additions in Q4, we crossed the 200m paid memberships mark. For the full year, we added a record 37m paid memberships, achieved $25 billion in annual revenue (+24% year over year) and grew operating profit 76% to $4.6 billion. Our summary results and forecast are below.

(in millions except per share data)Q4'19Q1'20Q2'20Q3'20Q4'20Q1'21 Forecast
Revenue$5,467 $5,768 $6,148 $6,436 $6,644 $7,129 
Y/Y % Growth30.6 %27.6 %24.9 %22.7 %21.5 %23.6 %
Operating Income$459 $958 $1,358 $1,315 $954 $1,780 
Operating Margin8.4 %16.6 %22.1 %20.4 %14.4 %25.0 %
Net Income$587 $709 $720 $790 $542 $1,355 
Diluted EPS$1.30 $1.57 $1.59 $1.74 $1.19 $2.97 
Global Streaming Paid Memberships167.09 182.86 192.95 195.15 203.66 209.66 
Y/Y % Growth20.0 %22.8 %27.3 %23.3 %21.9 %14.7 %
Global Streaming Paid Net Additions8.76 15.77 10.09 2.20 8.51 6.00 
Net cash provided by (used in) operating activities$(1,462)$260 $1,041 $1,264 $(138)
Free Cash Flow*$(1,670)$162 $899 $1,145 $(284)
Shares (FD)451.4 452.5 453.9 455.1 455.3 
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 Tuesday, January 19, 2021 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 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 - Maturities (Details)
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 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)
Ticker: NFLX
CIK: 1065280
Form Type: 10-K Annual Report
Accession Number: 0001065280-21-000040
Submitted to the SEC: Thu Jan 28 2021 4:21:59 PM EST
Accepted by the SEC: Thu Jan 28 2021
Period: Thursday, December 31, 2020
Industry: Video Tape Rental

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