Netflix (NFLX) 10-K Summary — Year Ended Dec 31, 2023
The company reported revenue growth and positive operating income for the year. Cash and short-term investments increased, while the company reduced its reliance on debt markets.
Key takeaway
Year ended Dec 31, 2023 · FY2025 10-K
The company reported revenue growth and positive operating income for the year. Cash and short-term investments increased, while the company reduced its reliance on debt markets.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$33.7B
Revenue reported for the fiscal year.
Operating income
$7B
Income from operations reported for the year.
Net income
$5.4B
Net income reported for the year.
Operating cash flow
$7.3B
Cash generated by operating activities.
Annual revenue trend
Reported annual revenue and its change from the preceding fiscal year.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Dec 31, 2021 | $29.7B | n/a |
| Dec 31, 2022 | $31.6B | +6.5% |
| Dec 31, 2023 | $33.7B | +6.7% |
Business overview
The filing does not include a description of the company's business. The only available context is the company name, which indicates it is a streaming entertainment provider.
Financial performance
Revenue grew compared to the prior year. Operating income and net income were positive. Operating cash flow was strong.
Material risks
The company faces risks related to its ability to obtain financing on acceptable terms. Its debt obligations, including principal and interest due in the next twelve months, represent a material financial commitment. The filing also notes that future capital needs from the debt market are expected to be more limited.
Liquidity and capital
Cash and short-term investments increased, primarily from operating cash flows, partially offset by stock repurchases. Debt increased slightly due to currency remeasurement, and the company had no borrowings under its revolving credit facility.
What to watch
Monitor whether the company draws on its revolving credit facility in the next filing.