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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Vizio
Vizio (VZIO) investor relations material
Vizio has been acquired by Walmart Inc
Vizio Q3 2024 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2024 earnings summary6 Nov, 2024
Executive summary
Q3 2024 net revenue was $444.7 million, up 4% year-over-year, with Platform+ revenue rising 26% to $197.0 million.
Gross profit increased 13% to $109.1 million, while net income was $0.5 million, down from $13.8 million in Q3 2023.
Adjusted EBITDA was $8.8 million, including $10.6 million in acquisition-related costs and $3.1 million in cash incentive awards.
SmartCast Active Accounts grew 7% to 19.1 million, and SmartCast ARPU rose 18% to $37.17.
SmartCast Hours per account rose 5% to 101 per month, and direct ad relationships expanded by 20%.
Financial highlights
Platform+ net revenue grew 26% year-over-year to $197.0 million, driven by a 31% increase in advertising revenue.
Device net revenue declined 8% to $247.7 million due to lower shipments.
Platform+ gross margin decreased to 58.8% from 63.9% due to a greater mix of video revenue with higher partner payouts.
Device gross margin was negative at (2.7)%, reflecting lower average selling prices and higher costs.
Total operating expenses rose 37% to $114.7 million, mainly from higher personnel, acquisition-related, and incentive costs.
Outlook and guidance
Management expects continued growth in Platform+ revenue and engagement, but notes Device sales and margins remain under pressure from competition and macroeconomic factors.
The company anticipates ongoing seasonality, with Q4 being critical for annual results.
Platform+ is expected to drive most future gross profit growth.
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Frequently asked questions
Vizio Holding Corp designs and manufactures smart televisions, sound bars, and a proprietary smart TV operating system. The company also operates a platform that delivers ad-supported content and data-driven advertising solutions. Vizio serves consumers through major retailers and operates a direct-to-consumer platform. The company is headquartered in Irvine, California, and its shares are listed on the NYSE.