Vizio
July 25, 2024
We are introducing Q2 FY24 estimates. We are not providing other forward estimates as we currently expect the acquisition by WMT to close before VZIO reports Q3. Q2 FY24: Smart TV shipments of 1.0m, Device segment…
April 5, 2024
We are introducing Q1 FY24 estimates. We are also raising our price target to $11.50 and maintain Neutral rating. We suspend the rest of our forward estimates as we currently expect the acquisition by WMT…
November 14, 2023
We are updating our model to reflect Q3 results and the guidance for Q4. Q4 FY23: Smart TV shipments of 1.4m, Device segment revenue of $333m and gross profit of ($7m), Platform+ revenue of $166m, gross…
August 9, 2023
We are updating our model to reflect Q2 results and the guidance for Q3. We are lowering our price target to $7 and maintain Neutral rating. Q3 FY23: Smart TV shipments of 1.0m, Device segment revenue…
August 8, 2023
Device shipments and financials in line with expectations, Platform+ ahead but strength in advertising was telegraphed by the management during the quarter plus ROKU results were a decent read-through. Guidance looks soft but may reflect…
May 10, 2023
We are updating our model to reflect Q1 results and the guidance for Q2. Q2 FY23: Smart TV shipments of 1.0m, Device segment revenue of $253m and gross profit of $0m, Platform+ revenue of $136m,…
May 9, 2023
When the company gave guidance for Q1 in the last earnings report it was seen as soft but it’s paying off now. Platform+ better than expected with Device results light. Deceleration in advertising revenue growth…
March 14, 2023
As macro headwinds built throughout last year programmatic connected TV growth rates remained constant in Q3 and Q4 while pressure on the rest of the connected TV advertising spending kept increasing. As a result, connected…
March 1, 2023
We are updating our estimates to reflect Q4 FY22 results. Our Neutral rating and price target of $9 remain unchanged. Q1 FY23: Smart TV shipments of 1.1m, Device segment revenue of $235m and gross profit…
February 28, 2023
Q4 results in the all important Platform+ segment are below expectations so is the guidance for Q1. One possible explanation for the soft guide is that VZIO is switching to the strategy ROKU deployed in…
January 13, 2023
We would like to highlight a potential slowdown in M&E revenue growth as another variable worth watching. The drivers include shrinking room for monetization gains, a deceleration in SmartCast hours growth and spending rationalization at…