NetFlix 2002 Annual Report Download - page 54

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NETFLIX, INC.
STATEMENTS OF OPERATIONS
(in thousands, except per share data)
Year Ended December 31,
2000 2001 2002
Revenues:
Subscription $ 35,894 $ 74,255 $ 150,818
Sales — 1,657 1,988
Total revenues 35,894 75,912 152,806
Cost of revenues:
Subscription 24,861 49,088 77,044
Sales — 819 1,092
Total cost of revenues 24,861 49,907 78,136
Gross profit 11,033 26,005 74,670
Operating expenses:
Fulfillment * 10,247 13,452 19,366
Technology and development * 16,823 17,734 14,625
Marketing * 25,727 21,031 35,783
General and administrative * 6,990 4,658 6,737
Restructuring charges — 671 —
Stock−based compensation * 8,803 5,686 9,831
Total operating expenses 68,590 63,232 86,342
Operating loss (57,557) (37,227) (11,672)
Other income (expense):
Interest and other income 1,645 461 1,697
Interest and other expense (1,451) (1,852) (11,972)
Net loss $ (57,363) $ (38,618) $ (21,947)
Net loss per share:
Basic and diluted $ (40.57) $ (21.15) $ (1.56)
Weighted average shares outstanding:
Basic and diluted 1,414 1,826 14,102
* Amortization of stock−based compensation not included in expense line−item:
Fulfillment $ 2,298 $ 1,200 $ 1,243
Technology and development 2,871 1,932 3,781
Marketing 1,886 1,403 2,482
General and administrative 1,748 1,151 2,325
$ 8,803 $ 5,686 $ 9,831
See accompanying notes to financial statements.
F−4