Vizio Holding Co, the smart TV maker and integrated on-screen platform, scored a strong 74% revenue hike to $195.1 million for its advertising and data-centric Platform+ business in Q4 2021, but overall revenue sank 14% to $628.8 million.Supply-chain issues had a major impact on its core smart TV business, with shipments falling 32% to 1.5 million from 2.2 million a year ago. This resulted in total device revenue sinking 22% to $523.7 million.
Investors weren’t happy. At the market close on Thursday, Vizio's stock price sank 4% to $13.24 -- losing another 9% in after-market trading.
The company posted a net loss of $10.1 million compared to net income of $40.8 million in the year-ago period. Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) were 70% lower to $17.3 million.
But the company touted growing business metrics around its integrated onscreen platform, SmartCast, which showed gains. Active accounts grew 24% to 15.1 million, with SmartCast hours increased 11% to 3.9 billion.
The average revenue per user for Smartcast was 67% higher $21.68 from $12.99.Overall hours spent with Vizio grew 20% to 7.9 billion.