I wanted to quickly outline how to get files from EDGAR (Electronic Data Gathering, Analysis and Retrieval System). The first step is to look-up your firm's CIK (Central Index Key) which is used by the SEC to index the filings of each individual firm. Go here and type in your company's name, such as "Netflix" the search engine will come back with potential matches, in Netflix's case there where two possible choices (but both had the same CIK suggesting it was the same company).
Now after you click on your company, EDGAR will provide you with a list of forms that have been lodged with the SEC, they are dated and the form type is also displayed. If we go to the section "Form-type" we can tell EDGAR to limit the forms by a certain type. For example, I want to find Netflix's churn metric in their most recent 10-Q, so I tell EDGAR to only to return Form type "10-Q" and then I click on the first filing.
After getting the filing (in html format), I scoll down to the management discussion and analysis section and find the churn metric at 4.2%. Note the management define churn:
Churn: Churn is a monthly measure defined as customer cancellations in the quarter divided by the sum of beginning subscribers and gross subscriber additions, then divided by three months. Management reviews this metric to evaluate whether we are retaining our existing subscribers in accordance with our business plans.
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