VIZIO HOLDING CORP. Reports Q1 2024 Financial Results
VIZIO Holding Corp. (NYSE: VZIO) today announced the following results for the three months ended March 31, 2024:
- VIZIO Holding Corp. (NYSE: VZIO) today announced the following results for the three months ended March 31, 2024:
Financial and operational highlights include the following, compared to Q1'23:
Net revenue of $353.9 million, compared to $356.7 million
Platform+ net revenue of $159.6 million, up 27%
Gross profit of $81.1 million, up 8%
Platform+ gross profit of $88.3 million, up 20%
Net loss of $12.1 million, compared to $0.7 million
Adjusted EBITDA1 of $(3.6) million, compared to $6.7 million
SmartCast Average Revenue Per User (ARPU) of $34.24, up 17%
Reached 18.6 million SmartCast Active Accounts, which streamed 5.6 billion hours2
Grew SmartCast Hours per average SmartCast Active Account to 101 per month, up 8% YoY
Debuted the 2024 lineup of 4K, Full HD, and HD TV models and introduced an all-new 86” 4K model
Added WatchFree+ channels including BBC News, Home Crashers, Ebony TV, GoTraveler, and 48 Hours, bringing the total number of FAST channels to over 300
Reached record growth in WatchFree+ viewership, with viewing hours more than doubling compared to Q1’235
A reconciliation of Net Loss to Adjusted EBITDA is provided below. - Streamed hours represent SmartCast Hours.
- Direct ad relationships consists of the number of advertisers that purchased advertising inventory directly from VIZIO during the first quarter.