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Where the tokens are
Trade NFLX perpsStandardised from the company’s filings, newest period first, labelled with the company’s own fiscal calendar. A line the company does not report is left off rather than shown as zero; margins and free cash flow are worked out here, and only where every input is present.
| Line item | Q2 FY262026-06-30 | Q1 FY262026-03-31 | Q4 FY252025-12-31 | Q3 FY252025-09-30 | Q2 FY252025-06-30 | Q1 FY252025-03-31 | Q4 FY242024-12-31 | Q3 FY242024-09-30 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $12.56B | $12.25B | $12.05B | $11.51B | $11.08B | $10.54B | $10.25B | $9.82B |
| Cost of revenue | $6.04B | $5.89B | $6.52B | $6.16B | $5.33B | $5.26B | $5.77B | $5.12B |
| Gross profit | $6.52B | $6.36B | $5.53B | $5.35B | $5.75B | $5.28B | $4.48B | $4.70B |
| Gross margin | 51.9% | 51.9% | 45.9% | 46.4% | 51.9% | 50.1% | 43.7% | 47.9% |
| Research and development | $1.01B | $959.70M | $890.30M | $853.58M | $824.68M | $822.82M | $776.51M | $735.06M |
| Selling, general and administrative | $1.32B | $1.44B | $1.68B | $1.24B | $1.15B | $1.11B | $1.43B | $1.06B |
| Operating expenses | $2.33B | $2.40B | $2.57B | $2.10B | $1.98B | $1.93B | $2.21B | $1.80B |
| Operating income | $4.19B | $3.96B | $2.96B | $3.25B | $3.77B | $3.35B | $2.27B | $2.91B |
| Operating margin | 33.4% | 32.3% | 24.5% | 28.2% | 34.1% | 31.7% | 22.2% | 29.6% |
| EBITDA | $8.60B | $8.27B | $19.46B | $3.34B | $7.69B | $7.25B | $17.65B | $2.99B |
| Interest expense | −$175.69M | −$262.08M | −$234.40M | −$175.29M | −$182.65M | −$184.17M | −$192.60M | −$184.83M |
| Income before taxes | $4.07B | $6.55B | $2.77B | $3.11B | $3.63B | $3.21B | $2.13B | $2.70B |
| Income taxes | $667.17M | $1.26B | $349.22M | $562.49M | $506.26M | $323.38M | $265.66M | $339.45M |
| Net income | $3.40B | $5.28B | $2.42B | $2.55B | $3.13B | $2.89B | $1.87B | $2.36B |
| Net margin | 27.1% | 43.1% | 20.1% | 22.1% | 28.2% | 27.4% | 18.2% | 24.1% |
| EPS, basic | $0.81 | $1.25 | $0.30 | $0.60 | $0.74 | $0.68 | $0.12 | $0.55 |
| EPS, diluted | $0.80 | $1.23 | $0.29 | $0.59 | $0.72 | $0.66 | $0.11 | $0.54 |
| Diluted shares | 4.26B | 4.30B | 8.22B | 4.34B | 4.35B | 4.37B | 16.25B | 4.38B |
Figures describe Netflix shares, not any token. As of Jul 17, 2026, from Massive's standardised financials. The company reports these figures; a token's issuer holds the shares and reports nothing of its own here.