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New words:
absent, achievement, adjusted, Argentine, ARM, ASC, ASU, beginning, Brazil, deduction, disaggregated, FASB, final, fiscal, hypothetical, intangible, intercompany, jurisdiction, Kilgore, Leslie, negotiated, predetermined, PSU, reconciliation, refinancing, requisite, routinely, RSU, single, Statement, Subsequent, superior, Sweeney, thirteen, Topic, uncertainty, unvested, upcoming
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announced, approval, approved, Australian, bearing, bundle, Canadian, closing, collected, compare, data, define, discrete, distinct, domestic, established, examination, exclusive, expensed, favorably, February, fourteen, generated, governmental, greater, impacting, important, instance, insurance, intrinsic, IRS, isolation, Japanese, metric, model, modified, multiplied, noting, pretax, produced, quickly, ratably, receipt, reduction, relation, released, remain, remitted, repay, research, source, standalone, state, statute, stockholder, sustained, taxing, Typically, unamortized, yen
Financial report summary
?Competition
TEGNA • Graham Holdings Co. - Ordinary Shares • Shenandoah Telecommunications • Electronic Arts • Reading International Inc - Ordinary Shares • Harmonic • DISH Network • Urban One Inc - Ordinary Shares • Gaia Inc - Ordinary Shares • Twenty-First Century FoxRisks
- If our efforts to attract and retain members are not successful, our business will be adversely affected.
- If we do not continuously provide value to our members, including making improvements to our service in a manner that is favorably received by them, our revenue, results of operations and business will be adversely affected.
- Changes in competitive offerings for entertainment video could adversely impact our business.
- We face risks, such as unforeseen costs and potential liability in connection with content we acquire, produce, license and/or distribute through our service.
- If we are not able to manage change and growth, our business could be adversely affected.
- If we fail to maintain a positive reputation concerning our service and the content we offer, we may not be able to attract or retain members, we may face regulatory scrutiny and our operating results may be adversely affected.
- Our business could be adversely impacted by costs and challenges associated with strategic acquisitions and investments.
- We rely upon a number of partners to make our service available on their devices.
- We are subject to payment processing risk.
- If government regulations relating to the internet or other areas of our business change, we may need to alter the manner in which we conduct our business, or incur greater operating expenses.
- We are engaged in legal proceedings that could cause us to incur unforeseen expenses and could occupy a significant amount of our management's time and attention.
- Our advertising offering is new and subject to various risks and uncertainties, which may adversely affect our business.
- Risks Related to Intellectual Property
- If studios, content providers or other rights holders refuse to license streaming content or other rights upon terms acceptable to us, our business could be adversely affected.
- If our trademarks and other proprietary rights are not adequately protected to prevent use or appropriation by third parties, the value of our brand and other intangible assets may be diminished, and our business may be adversely affected.
- Intellectual property claims against us could be costly and result in the loss of significant rights related to, among other things, our website, streaming technology, our recommendation and merchandising technology, title selection processes, our content, and marketing activities.
- Risks Related to Information Technology
- Any significant disruption in or unauthorized access to our computer systems or those of third parties that we utilize in our operations, including those relating to cybersecurity or arising from cyber-attacks, could result in a loss or degradation of service, unauthorized access, disclosure or destruction of data, including member and corporate information, or theft of intellectual property, including digital content assets, which could adversely impact our business.
- We rely upon Amazon Web Services to operate certain aspects of our service and any disruption of or interference with our use of the Amazon Web Services operation would impact our operations and our business would be adversely impacted.
- If the technology we use in operating our business fails, is unavailable, or does not operate to expectations, our business and results of operations could be adversely impacted.
- Changes in how network operators handle and charge for access to data that travel across their networks could adversely impact our business.
- Privacy concerns could limit our ability to collect and leverage member personal information and disclosure of member personal information could adversely impact our business and reputation.
- Our reputation and relationships with members would be harmed if member personal information, particularly billing data, were to be accessed by unauthorized persons.
- Risks Related to Liquidity
- The long-term and largely fixed cost nature of our content commitments may limit our operating flexibility and could adversely affect our liquidity and results of operations.
- We may seek additional capital that may result in stockholder dilution or that may have rights senior to those of our common stockholders.
- We have a substantial amount of indebtedness and other obligations, including streaming content obligations, which could adversely affect our financial position, and we may not be able to generate sufficient cash to service our debt and other obligations.
- Risks Related to International Operations
- We could be subject to economic, political, regulatory and other risks arising from our international operations.
- We are subject to taxation related risks in multiple jurisdictions.
- Risks Related to Human Resources
- We may lose key employees or may be unable to hire qualified employees, and the failure to maintain and improve our company culture may adversely affect our business.
- Labor disputes may have an adverse effect on the Company’s business.
- Risks Related to Our Stock Ownership
- Provisions in our charter documents and under Delaware law could discourage a takeover that stockholders may consider favorable, although we have announced plans to modify some of these provisions over time.
- Our stock price is volatile.
- Preparing and forecasting our financial results requires us to make judgments and estimates which may differ materially from actual results.
Management Discussion
- Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations
- This Quarterly Report on Form 10-Q contains forward-looking statements within the meaning of the federal securities laws. These forward-looking statements include, but are not limited to, statements regarding: our core strategy; our ability to improve our content offerings and service; our future financial performance, including expectations regarding revenues, deferred revenue, operating income and margin, net income, expenses, and profitability; liquidity, including the sufficiency of our capital resources, net cash provided by (used in) operating activities, and access to financing sources; capital allocation strategies, including any stock repurchases or repurchase programs; seasonality; impact of foreign exchange rate fluctuations, including on net income, revenues and average revenues per paying member; expectations regarding hedging activity; impact of interest rate fluctuations; adequacy of existing facilities; future regulatory changes and their impact on our business; intellectual property; price changes and testing; accounting treatment for changes related to content assets; acquisitions; membership growth, including impact of content and pricing changes on membership growth; member viewing patterns; future contractual obligations, including unknown content obligations and timing of payments; our global content and marketing investments, including investments in original programming; content amortization; resolution of tax examinations; tax expense; unrecognized tax benefits; deferred tax assets; and our ability to effectively manage change and growth. These forward-looking statements are subject to risks and uncertainties that could cause
- actual results and events to differ materially from those included in forward-looking statements. Factors that might cause or contribute to such differences include, but are not limited to, those discussed in our Annual Report on Form 10-K for the year ended December 31, 2023 filed with the Securities and Exchange Commission (“SEC”) on January 26, 2024, in particular the risk factors discussed under the heading “Risk Factors” in Part I, Item 1A.