March 16, 2021
Vizio, the Irvine, Calif.-based consumer electronics giant, is prepping an initial public offering as the company prepares to launch on the New York Stock Exchange. The company March 16 launched the roadshow for the IPO of more than 15.1 million shares of its Class A common stock priced from $21 to $23 per share.
In 2020, Vizio reported net income of $102.5 million on revenue of $2.04 billion, which was up from $1.83 billion in revenue and $23.1 million in profit in the previous year. The company’s SmartCast operating system had more than 12 million registered users accessing ad-supported content, in addition to direct access to third-party apps such as Netflix, Hulu, Peacock, Apple TV+, Disney+ and YouTube TV. That was up from 7.6 million registered users in 2019.
Regardless, data from Statista suggests Vizio has been losing market share in the U.S. to Samsung, LG and China’s TCL, which manufacturers Roku-branded televisions.