| Stage | SHOP | % of rev | NFLX | % of rev | Gap · A − B |
|---|---|---|---|---|---|
| Revenue | $3.6B | 100.00% | $12.9B | 100.00% | NFLX ×3.59 |
| Gross profit | $1.7B | 47.67% | $6.8B | 52.78% | NFLX +5.1pp |
| Operating income | $488M | 13.62% | $4.5B | 34.63% | NFLX +21.0pp |
| Pre-tax income | $1.8B | 49.54% | $4.3B | 33.53% | SHOP +16.0pp |
| Net income | $1.5B | 41.92% | $3.7B | 28.46% | SHOP +13.5pp |
| Stage | SHOP | NFLX | Gap · A − B |
|---|---|---|---|
| Revenue | $3.6B100.00% | $12.9B100.00% | NFLX ×3.59 |
| Gross profit | 47.67%$1.7B | 52.78%$6.8B | NFLX +5.1pp |
| Operating income | 13.62%$488M | 34.63%$4.5B | NFLX +21.0pp |
| Pre-tax income | 49.54%$1.8B | 33.53%$4.3B | SHOP +16.0pp |
| Net income |
| 41.92%$1.5B |
| 28.46%$3.7B |
| SHOP +13.5pp |
SHOP · ROKU 10-KFeb 13 '26
“Many of our action ads are in partnership with companies such as Walmart, Shopify, and Instacart that connect their products with viewers and provide enhanced targeting and closed-loop measurement.”
NFLX · ROKU 10-KFeb 13 '26
“Some of our leading content partners, including Netflix, also have implemented similar features within their apps.”