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Revenue Soars, Subscriber Growth Continues
12 Aug
Summary
- Revenue surged nearly 40% year-over-year to over $753 million in Q2.
- Net new subscribers increased by 300,000, reaching nearly 3 million.
- Company issued positive guidance for Q3 and full-year 2026 revenue.
As of August 12, 2026, the company announced strong financial results for its second quarter. Revenue experienced a significant increase, growing by nearly 40% compared to the previous year, reaching over $753 million.
Subscriber growth also remained a key highlight, with the company adding 300,000 net new subscribers. This brings the total subscriber base to nearly 3 million. Domestic revenue growth accelerated to 16% year-over-year, while international revenue saw a substantial increase, growing over 17-fold.
The company reported an Adjusted EBITDA of $60 million, achieving an 8% margin. Despite a GAAP net income loss of $86 million, largely due to one-time costs, the company ended the quarter with over $840 million in cash and investments.
Looking ahead, the company provided positive guidance for the third quarter and raised its full-year 2026 revenue forecast. Third quarter revenue is projected to be between $880 million and $900 million, with adjusted EBITDA between $75 million and $95 million. Full-year 2026 revenue guidance was increased to a range of $3.1 billion to $3.3 billion.
