ROKU
Roku, Inc.111.09
+2.06+1.89%
Dec 16, 4:00:01 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Distribution diversification, AI tailwinds detailed.
Q&A addressed Walmart's Vizio OS shift for House TVs by detailing Roku's distribution diversification—expansions with Best Buy's Pioneer, Target's Hiro, Amazon, TCL/Hisense OEMs, and Mexico TV production for lower costs—with H2 impacts expected. AI emerged as a clear tailwind, slashing content costs to boost long-form engagement while powering Ads Manager for SMBs and outperforming DSP integrations like Amazon's, ramping as expected. International monetization gains traction in Mexico and Canada via scale and premium subs. Q1 platform growth exceeds 21% on easy comps and Frndly; full-year 18% bakes in H2 political caution. Management stays confident on records and $1B FCF path by 2028. Q&A reaffirmed momentum crisply.
Key Stats
Market Cap
16.41BP/E (TTM)
-Basic EPS (TTM)
-0.19Dividend Yield
0%Recent Filings
10-K
FY2025 results
Roku streamed 145.6 billion hours in FY2025 ended December 31, 2025, up 15% y/y from 127.1 billion, driving Platform revenue to $4.1B (up 18% y/y) on stronger Premium Subscriptions and Roku-billed services like new Frndly TV acquisition, while Devices held flat at $592M amid higher Roku-made TV sales but fewer players. Q4 holiday strength boosted topline 15% y/y to $4.7B total revenue, with Platform gross profit rising 14% yet Devices posted $82M loss as pricing fueled household growth. Free cash flow soared to $484M (derived), backed by $1.6B cash; $150M buybacks executed, $250M remains. Frndly TV added synergies but content costs pressured margins. Highly competitive streaming wars threaten ad momentum.
8-K
Roku's stellar 2025 results
Roku crushed 2025 with total net revenue up 15% to $4.737 billion, platform revenue surging 18% to $4.145 billion, positive net income of $88 million, and record TTM free cash flow of $483.6 million. They repurchased $150 million in shares. Platform stays unprofitable on devices, yet Q1 2026 eyes $1.2 billion revenue.
10-Q
Q3 FY2025 results
Roku posted Q3 revenue of $1.21B, up 14% y/y, driven by platform at $1.06B (17% y/y) while devices dipped 5% y/y to $146M; gross profit climbed 9% y/y to $525M as platform margins held firm. Operating income flipped to $9.5M profit from a $36M loss, fueled by steady opex; diluted EPS hit $0.16 on 152M shares, reconciling cleanly. Cash fell to $1.58B after $376M operating cash flow and $95M Frndly TV buyout (May 2025, $170M cash/contingent, $148M goodwill, $46M intangibles over 6.6 years); $300M revolver untapped. Devices lose money. Competition intensifies.
8-K
Roku Q3 beats, positive ops income
Roku posted Q3 net revenue of $1.21B, up 14% YoY, with Platform revenue hitting $1.065B, up 17%, fueled by ad integrations and subscriptions. Positive operating income returned first time since 2021; repurchased $50M stock. Raised FY outlook to $4.69B revenue, $395M Adjusted EBITDA. Strong cash flow builds profitability runway.
10-Q
Q2 FY2025 results
Roku posted Q2 revenue of $1.11B, up 15% y/y, driven by platform at $975M (up 18% y/y, aided by Frndly acquisition adding 1.8 points). Gross profit hit $498M with platform margins steady at 51%, while devices swung to breakeven from a $15M loss. Operating loss narrowed to $23M from $71M y/y as expenses grew just 5%. Cash swelled to $2.25B; closed Frndly in May 2025 for $170M (cash/contingent), booking $148M goodwill and $46M intangibles (6.6-year life). Operating cash flow strong. Undrawn $300M revolver available. Competition from Amazon, Google, and Apple intensifies.
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