NETFLIX 17-21-Website-Finacials
NETFLIX 17-21-Website-Finacials
NETFLIX 17-21-Website-Finacials
Three Months Ended Twelve Months Ended Twelve Months Ended Nine Months Ended
March 31, June 30, September 30, December 31, December 31, December 31, December 31,
2017 2017 2017 2017 2017 2018 2019
12% 11% 12% 14% Parct. Parct. Y/ Y
Revenues ingresos $2,636,635 $2,785,464 $2,984,859 $3,285,755 $11,692,713 $15,794,341 35% $20,156,447
Egresos
Cost of revenues costo de venta: lo que te cos 1,740,731 1,991,696 2,086,239 2,214,334 8,033,000 69% 9,967,538 63% 24% 12,440,213
Marketing cuánto invierte en publicidad 306,148 311,160 352,446 466,527 1,436,281 12% 2,369,469 15% 65% 2,652,462
Technology and development inversión 233,871 242,484 230,223 247,132 953,710 8% 1,221,814 8% 28% 1,545,149
General and administrative gastos administrativos 98,943 112,317 107,324 112,459 431,043 4% 630,294 4% 46% 914,369
Operating income utilidad operativa: todos los 256,942 127,807 208,627 245,303 838,679 7% 1,605,226 10% 91% 2,604,254
March 31, June 30, September 30, December 31, March 31, June 30, September 30, December 31, March 31, June 30, September 30, December 31,
2017 2017 2017 2017 2018 2018 2018 2018 2019 2019 2019 2019
Assets
Current assets:
Cash and cash equivalents (efectivo) $1,077,824 $1,918,777 $1,746,469 $ 2,822,795 $2,593,666 $3,906,357 $3,067,534 $ 3,794,483 $3,348,557 $5,004,247 $4,435,018 $ 5,018,437
Short-term investments 263,405 246,125 - - - - - - - - -
Current content assets, net 4,026,615 4,149,111 4,223,387 4,310,934 4,626,522 4,803,663 4,987,916 5,151,186 - - -
Other current assets 292,486 386,772 415,492 536,245 597,388 636,869 674,531 748,466 820,350 872,910 892,740 1,160,067
Total current assets 5,660,330 6,700,785 6,385,348 7,669,974 7,817,576 9,346,889 8,729,981 9,694,135 4,168,907 5,877,157 5,327,758 6,178,504
Non-current content assets, net 8,029,112 9,078,474 9,739,704 10,371,055 11,314,803 12,292,070 13,408,443 14,960,954 20,888,785 21,945,740 23,234,994 24,504,567
Property and equipment, net (patrimonio) 275,083 309,831 322,421 319,404 341,932 349,646 371,152 418,281 434,372 452,399 481,992 565,221
Other non-current assets 394,571 428,133 504,067 652,309 678,486 674,932 856,653 901,030 1,726,568 1,896,043 1,896,967 2,727,420
Total assets $14,359,096 $16,517,223 $16,951,540 $19,012,742 $20,152,797 $22,663,537 $23,366,229 $25,974,400 $27,218,632 $ 30,171,339 $ 30,941,711 $ 33,975,712
Liabilities and Stockholders' Equity
Current liabilities:
Current content liabilities $3,861,447 $4,095,374 $4,142,086 $4,173,041 $4,466,081 $4,541,087 $4,613,011 $4,686,019 $4,863,351 $ 4,848,201 $ 4,860,542 $ 4,413,561
Accounts payable 294,831 273,398 301,443 359,555 436,183 448,219 441,427 562,985 439,496 442,194 444,129 674,347
Accrued expenses and other liabilities 296,258 248,871 331,723 315,094 429,431 392,595 527,079 477,417 746,268 750,812 1,037,723 843,043
Deferred revenue 458,693 505,302 535,425 618,622 673,892 697,740 716,723 760,899 808,692 892,777 915,506 924,745
Short-term debt (deuda corto plazo) -
Total current liabilities 4,911,229 5,122,945 5,310,677 5,466,312 6,005,587 6,079,641 6,298,240 6,487,320 6,857,807 6,933,984 7,257,900 6,855,696
Non-current content liabilities 3,035,430 3,356,090 3,296,504 3,329,796 3,444,476 3,604,158 3,593,823 3,759,026 3,560,364 3,564,440 3,419,552 3,334,323
Long-term debt 3,365,431 4,836,502 4,888,783 6,499,432 6,542,373 8,342,067 8,336,586 10,360,058 10,305,023 12,594,135 12,425,746 14,759,260
Other non-current liabilities 73,323 89,186 128,215 135,246 139,631 141,071 127,927 129,231 792,380 973,232 977,008 1,444,276
Total liabilities 11,385,413 13,404,723 13,624,179 15,430,786 16,132,067 18,166,937 18,356,576 20,735,635 21,515,574 24,065,791 24,080,206 26,393,555
Stockholders' equity:
Common stock 1,669,132 1,727,858 1,807,123 1,871,396 1,995,225 2,103,437 2,215,736 2,315,988 2,439,773 2,566,365 2,677,972 2,793,929
Treasury stock at cost -
Accumulated other comprehensive income (loss) (45,859) (31,368) (25,362) (20,557) 4,264 (12,427) (14,508) (19,582) (25,600) (20,352) (41,246) (23,521)
Retained earnings (ingresos retenidos) 1,350,410 1,416,010 1,545,600 1,731,117 2,021,241 2,405,590 2,808,425 2,942,359 3,288,885 3,559,535 4,224,779 4,811,749
Total stockholders' equity 2,973,683 3,112,500 3,327,361 3,581,956 4,020,730 4,496,600 5,009,653 5,238,765 5,703,058 6,105,548 6,861,505 7,582,157
Total liabilities and stockholders' equity $14,359,096 $16,517,223 $16,951,540 $19,012,742 $20,152,797 $22,663,537 $23,366,229 $25,974,400 $27,218,632 $ 30,171,339 $ 30,941,711 $ 33,975,712
Netflix, Inc.
Segment Information
(unaudited)
(in thousands)
Domestic Streaming
Paid memberships at end of period 49,375 50,323 51,345 52,810 52,810 55,087 55,959 56,957 58,486 58,486 60,229 60,103 60,620 60,620
Paid net membership additions (losses) 1,470 948 1,022 1,465 4,905 2,277 872 998 1,529 5,676 1,743 (126) 517 2,134
Free trials 1,479 1,598 1,427 1,940 1,940 1,618 1,420 1,507 2,065 2,065 1,563 1,575 1,375 1,375
Revenues $ 1,470,042 $ 1,505,499 $ 1,547,210 $ 1,630,274 $ 6,153,025 $ 1,820,019 $ 1,893,222 $ 1,937,314 $1,996,092 $ 7,646,647 $2,073,555 $2,299,189 $2,412,598 $ 6,785,342
Cost of revenues 783,954 868,530 902,275 916,100 3,470,859 936,480 969,995 1,038,473 1,093,446 4,038,394 1,139,535 1,196,420 1,210,105 3,546,060
Marketing 126,253 124,903 141,533 211,057 603,746 250,719 251,298 210,595 312,739 1,025,351 221,046 250,606 211,793 683,445
Contribution profit 559,835 512,066 503,402 503,117 2,078,420 632,820 671,929 688,246 589,907 2,582,902 712,974 852,163 990,700 2,555,837
Contribution margin 38.1% 34.0% 32.5% 30.9% 33.8% 34.8% 35.5% 35.5% 29.6% 33.8% 34.4% 37.1% 41.1% 37.7%
International Streaming
Paid memberships at end of period 44,988 48,713 52,678 57,834 57,834 63,815 68,395 73,465 80,773 80,773 88,634 91,459 97,714 97,714
Paid net membership additions 3,803 3,725 3,965 5,156 16,649 5,981 4,580 5,070 7,308 22,939 7,861 2,825 6,255 16,941
Free trials 2,906 3,318 3,798 4,998 4,998 4,475 4,367 5,170 7,131 7,131 5,003 4,481 4,215 4,215
Revenues $ 1,046,199 $ 1,165,228 $ 1,327,435 $ 1,550,329 $ 5,089,191 $ 1,782,086 $ 1,921,144 $ 1,973,283 $2,105,592 $ 7,782,105 $2,366,749 $2,547,727 $2,760,430 $ 7,674,906
Cost of revenues 896,558 1,070,432 1,136,877 1,255,749 4,359,616 1,321,706 1,392,512 1,455,554 1,606,275 5,776,047 1,697,121 1,778,890 1,860,021 5,336,032
Marketing 179,895 186,257 210,913 255,470 832,535 286,058 340,709 299,735 417,616 1,344,118 395,532 352,544 342,004 1,090,080
Contribution profit (loss) (30,254) (91,461) (20,355) 39,110 (102,960) 174,322 187,923 217,994 81,701 661,940 274,096 416,293 558,405 1,248,794
Contribution margin -2.9% -7.8% -1.5% 2.5% -2.0% 9.8% 9.8% 11.0% 3.9% 8.5% 11.6% 16.3% 20.2% 16.3%
Domestic DVD
Paid memberships at end of period 3,867 3,692 3,520 3,330 3,330 3,138 2,971 2,828 2,706 2,706 2,565 2,411 2,276 2,276
Free trials 77 66 49 53 53 29 28 24 25 25 22 17 16 16
Revenues $ 120,394 $ 114,737 $ 110,214 $ 105,152 $ 450,497 $ 98,751 $ 92,904 $ 88,777 $85,157 $ 365,589 $80,688 $76,200 $71,877 $ 228,765
Cost of revenues 60,219 52,734 47,087 42,485 202,525 42,393 39,924 37,101 33,679 153,097 33,958 30,347 27,793 92,098
Contribution profit 60,175 62,003 63,127 62,667 247,972 56,358 52,980 51,676 51,478 212,492 46,730 45,853 44,084 136,667
Contribution margin 50.0% 54.0% 57.3% 59.6% 55.0% 57.1% 57.0% 58.2% 60.5% 58.1% 57.9% 60.2% 61.3% 59.7%
Consolidated
Revenues $ 2,636,635 $ 2,785,464 $ 2,984,859 $ 3,285,755 $ 11,692,713 $ 3,700,856 $ 3,907,270 $ 3,999,374 $ 4,186,841 $ 15,794,341 $ 4,520,992 $ 4,923,116 $ 5,244,905 $ 14,689,013
Cost of revenues 1,740,731 1,991,696 2,086,239 2,214,334 8,033,000 2,300,579 2,402,431 2,531,128 2,733,400 9,967,538 2,870,614 3,005,657 3,097,919 8,974,190
Marketing 306,148 311,160 352,446 466,527 1,436,281 536,777 592,007 510,330 730,355 2,369,469 616,578 603,150 553,797 1,773,525
Contribution profit $ 589,756 $ 482,608 $ 546,174 $ 604,894 $ 2,223,432 $ 863,500 $ 912,832 $ 957,916 $ 723,086 $ 3,457,334 $ 1,033,800 $ 1,314,309 $ 1,593,189 $ 3,941,298
Other operating expenses 332,814 354,801 337,547 359,591 1,384,753 416,922 450,619 477,248 507,319 1,852,108 574,716 607,890 612,950 1,795,556
Operating income 256,942 127,807 208,627 245,303 838,679 446,578 462,213 480,668 215,767 1,605,226 459,084 706,419 980,239 2,145,742
Other income (expense) (33,150) (113,845) (92,390) (113,973) (353,358) (146,962) (33,577) (101,858) (96,371) (378,768) (59,425) (205,503) 32,084 (232,844)
Provision for (benefit from) income taxes 45,570 (51,638) (13,353) (54,187) (73,608) 9,492 44,287 (24,025) (14,538) 15,216 55,607 230,266 347,079 632,952
Net Income (Ingresos netos) $ 178,222 $ 65,600 $ 129,590 $ 185,517 $ 558,929 $ 290,124 $ 384,349 $ 402,835 $ 133,934 $ 1,211,242 $ 344,052 $ 270,650 $ 665,244 $ 1,279,946
Netflix, Inc.
Streaming Revenue and Membership Information by Region
(unaudited)
(in thousands, except for average revenue per membership and percentages)
As of / Nine
As of / Three Months Ended As of / Year Ended As of / Three Months Ended As of / Year Ended As of / Three Months Ended Months Ended
March 31, June 30, September 30, December 31, December 31, March 31, June 30, September 30, December 31, December 31, March 31, June 30, September 30, September 30,
2019 2019 2019 2019 2019 2020 2020 2020 2020 2020 2021 2021 2021 2021
Asia-Pacific (APAC)
Revenues $ 319,602 $ 349,494 $ 382,304 $ 418,121 $ 1,469,521 $ 483,660 $ 569,140 $ 634,891 $ 684,609 $ 2,372,300 $ 762,414 $ 799,480 $ 834,002 $ 2,395,896
Paid net membership additions 1,534 801 1,543 1,748 5,626 3,602 2,657 1,012 1,988 9,259 1,361 1,022 2,176 4,559
Paid memberships at end of period 12,141 12,942 14,485 16,233 16,233 19,835 22,492 23,504 25,492 25,492 26,853 27,875 30,051 30,051
Average paying memberships 11,374 12,542 13,714 15,359 13,247 18,034 21,164 22,998 24,498 21,674 26,173 27,364 28,963 27,500
Average revenue per membership (2) $9.37 $9.29 $9.29 $9.07 $9.24 $8.94 $8.96 $9.20 $9.32 $9.12 $9.71 $9.74 $9.60 $9.68
% change as compared to prior-year period -2% -1% 0% -1% -1% -5% -4% -1% 3% -1% 9% 9% 4% 7%
Constant currency % change as compared to prior-year period* 3% 5% 3% 0% 3% -3% 1% -1% 0% -1% 3% 1% 2% 2%
(1) Excludes DVD revenues of $297 million, $239 million, $44 million and $140 million for the years ended December 31, 2019, 2020, and the three and nine months ended September 30, 2021, respectively. Total US revenues for the years ended December 31, 2019, 2020, and the three and nine months ended September 30, 2021 were $9.5 billion,
$10.8 billion, $3.0 billion and $9.0 billion, respectively.
(2) Average revenue per membership (ARM) is defined as streaming revenue divided by the average number of streaming paid memberships divided by the number of months in the period. These figures do not include sales taxes or VAT.
* The company believes that constant currency information is useful in analyzing the underlying trends in average revenue per membership. In order to exclude the effect of foreign currency rate fluctuations on average revenue per membership, the Company estimates the current period revenue assuming foreign exchange rates had remained
constant with foreign exchange rates from each of the corresponding months of the prior-year period.
Paid net membership additions 9,604 2,699 6,772 8,756 27,831 15,766 10,091 2,204 8,512 36,573 3,976 1,541 4,383 9,900
Incremento por el COVID, el mayor aumento en un trimestre
Netflix, Inc.
Consolidated Statements of Cash Flows detalle de todos los ingresos y egresos del dinero real
(unaudited)
(in thousands)
Three Months Ended Twelve Months Ended Three Months Ended Twelve Months Ended Three Months Ended Nine Months Ended
March 31, June 30, September 30, December 31, December 31, March 31, June 30, September 30, December 31, December 31, March 31, June 30, September 30, September 30,
2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2019 2019 2019 2019
Cash flows from operating activities:
Net income $178,222 $65,600 $129,590 $185,517 $ 558,929 $290,124 $384,349 $402,835 $133,934 $ 1,211,242 $344,052 $270,650 $665,244 $ 1,279,946
Adjustments to reconcile net income to net cash
used in operating activities:
Additions to streaming content assets (2,348,666) (2,664,421) (2,315,017) (2,477,659) (9,805,763) (2,986,747) (3,033,721) (3,238,717) (3,784,252) (13,043,437) (2,997,746) (3,325,103) (3,648,292) (9,971,141)
Change in streaming content liabilities 366,257 514,890 (34,587) 53,446 900,006 378,885 288,474 65,868 266,653 999,880 (14,698) (12,414) (95,548) (122,660)
Amortization of streaming content assets 1,305,683 1,550,794 1,627,477 1,713,863 6,197,817 1,748,844 1,817,817 1,911,767 2,053,660 7,532,088 2,124,686 2,231,915 2,279,977 6,636,578
Amortization of DVD content assets 18,598 16,511 13,259 12,289 60,657 11,134 11,154 9,959 8,965 41,212 8,509 7,656 6,654 22,819
Depreciation and amortization of property, equipment and intangibles 15,049 18,551 19,238 19,073 71,911 19,041 19,736 21,161 23,219 83,157 23,561 25,496 26,704 75,761
Stock-based compensation expense 44,888 44,028 44,763 48,530 182,209 68,395 81,232 82,316 88,714 320,657 101,200 103,848 100,262 305,310
Other non-cash items 21,666 11,519 9,896 14,126 57,207 8,209 13,921 8,962 9,336 40,428 37,199 53,039 51,280 141,518
Foreign currency remeasurement loss (gain) on long-term debt - 64,220 50,830 25,740 140,790 41,080 (85,410) (7,670) (21,953) (73,953) (57,600) 61,284 (171,360) (167,676)
Deferred taxes (26,764) (20,702) (57,090) (104,132) (208,688) (22,049) (9,539) (39,453) (14,479) (85,520) 6,627 35,519 52,105 94,251
Changes in operating assets and liabilities:
Other current assets (25,402) (80,199) (41,399) (87,090) (234,090) (55,905) (25,564) (30,364) (88,359) (200,192) (32,076) (24,231) 145 (56,162)
Accounts payable (11,000) (12,439) 34,029 63,969 74,559 74,083 7,733 (4,449) 121,831 199,198 (124,467) (2,674) (7,643) (134,784)
Accrued expenses and other liabilities 93,542 (48,042) 74,006 (5,169) 114,337 119,049 (52,851) 134,000 (49,776) 150,422 157,647 (26,705) 260,872 391,814
Deferred revenue 15,221 46,609 32,947 83,197 177,974 55,270 23,848 18,983 44,176 142,277 47,793 84,085 22,729 154,607
Other non-current assets and liabilities 8,850 (41,447) (7,549) (33,657) (73,803) 13,830 40,582 (25,609) (26,741) 2,062 (4,486) (26,119) (44,923) (75,528)
Net cash used in operating activities (343,856) (534,528) (419,607) (487,957) (1,785,948) (236,757) (518,239) (690,411) (1,235,072) (2,680,479) (379,799) (543,754) (501,794) (1,425,347)
Cash flows from investing activities:
Acquisition of DVD content assets (25,372) (7,624) (10,217) (10,507) (53,720) (10,796) (12,552) (7,731) (7,507) (38,586) (9,170) (7,798) (4,634) (21,602)
Purchases of property and equipment (52,523) (65,231) (33,963) (21,585) (173,302) (37,170) (27,323) (39,333) (70,120) (173,946) (60,381) (39,584) (45,333) (145,298)
Change in other assets (769) (1,064) (1,107) (3,749) (6,689) (1,786) (441) (121,630) (2,731) (126,588) (10,552) (2,654) 613 (12,593)
Purchases of short-term investments (57,774) (14,246) (2,799) - (74,819) - - - - - - - - -
Proceeds from sale of short-term investments 55,748 14,128 250,278 - 320,154 - - - - - - - - -
Proceeds from maturities of short-term investments 5,100 17,605 - - 22,705 - - - - - - - - -
Net cash provided by (used in) investing activities (75,590) (56,432) 202,192 (35,841) 34,329 (49,752) (40,316) (168,694) (80,358) (339,120) (80,103) (50,036) (49,354) (179,493)
Cash flows from financing activities:
Proceeds from issuance of debt - 1,420,510 - 1,600,000 3,020,510 - 1,900,000 - 2,061,852 3,961,852 - 2,243,196 - 2,243,196
Issuance costs - (15,013) (312) (16,828) (32,153) - (16,992) - (18,879) (35,871) - (18,192) - (18,192)
Proceeds from issuance of common stock 24,178 14,826 34,669 14,705 88,378 56,335 26,936 29,781 11,450 124,502 22,972 21,896 11,989 56,857
Other financing activities 61 63 65 66 255 (321) (532) (544) (559) (1,956) - - - -
Net cash provided by financing activities 24,239 1,420,386 34,422 1,597,943 3,076,990 56,014 1,909,412 29,237 2,053,864 4,048,527 22,972 2,246,900 11,989 2,281,861
Effect of exchange rate changes on cash, cash equivalents, and restricted cash 5,455 11,527 10,685 2,181 29,848 7,177 (36,340) (5,562) (4,957) (39,682) (5,014) 4,998 (29,325) (29,341)
Net increase (decrease) in cash, cash equivalents, and restricted cash (389,752) 840,953 (172,308) 1,076,326 1,355,219 (223,318) 1,314,517 (835,430) 733,477 989,246 (441,944) 1,658,108 (568,484) 647,680
Cash, cash equivalents, and restricted cash beginning of period 1,467,576 1,077,824 1,918,777 1,746,469 1,467,576 2,822,795 2,599,477 3,913,994 3,078,564 2,822,795 3,812,041 3,370,097 5,028,205 3,812,041
Cash, cash equivalents, and restricted cash end of period $ 1,077,824 $ 1,918,777 $ 1,746,469 $ 2,822,795 $ 2,822,795 $ 2,599,477 $ 3,913,994 $ 3,078,564 $ 3,812,041 $ 3,812,041 $ 3,370,097 $ 5,028,205 $ 4,459,721 $ 4,459,721
Effect of exchange rate changes on cash, cash equivalents, and restricted cash (5,014) 4,998 (29,325) 29,810 469 (70,902) 11,819 28,459 66,674 36,050 (42,138) 23,477 (63,843) (82,504)
Net increase (decrease) in cash, cash equivalents, and restricted cash (441,944) 1,658,108 (568,484) 584,065 1,231,745 134,401 2,001,859 1,242,234 (183,410) 3,195,084 197,583 (631,835) (251,650) (685,902)
Cash, cash equivalents, and restricted cash beginning of period 3,812,041 3,370,097 5,028,205 4,459,721 3,812,041 5,043,786 5,178,187 7,180,046 8,422,280 5,043,786 8,238,870 8,436,453 7,804,618 8,238,870
Cash, cash equivalents, and restricted cash end of period $ 3,370,097 $ 5,028,205 $ 4,459,721 $ 5,043,786 $ 5,043,786 $ 5,178,187 $ 7,180,046 $ 8,422,280 $ 8,238,870 $ 8,238,870 $ 8,436,453 $ 7,804,618 $ 7,552,968 $ 7,552,968