$ROKU (+1.65%) Q3'24 Earnings Highlights:

🔹 EPS: -$0.06 (Est. -$0.32) 🟢

🔹 Revenue: $1.06B (Est. $1.02B) 🟢; UP +16% YoY

🔹 Net Loss: $9.0M (vs. -$330.1M in Q3 2023)

Q4'24 Guidance:

🔹 Total Revenue: $1.14B (Est. $1.11B) 🟢; UP +16% YoY

🔸 Platform Revenue: Expected growth of 14% YoY

🔸 Device Revenue: Expected growth of 25% YoY

🔹 Gross Profit: $465M

🔹 Adjusted EBITDA: $30M

🔹 Net Loss: $65M

🔹 Operating Expenses (OpEx): Expected increase of 9% YoY in Q4

Revenue Breakdown:

🔹 Platform Revenue: $908.2M; UP +15% YoY

🔹 Device Revenue: $154.0M; UP +23% YoY

Key Financial Metrics:

🔹 Platform Gross Margin: 54.2%; UP +6.1 pts YoY

🔹 Total Gross Margin: 45.2%; UP +4.8 pts YoY

🔹 Adjusted EBITDA: $98.2M (vs. $43.4M in Q3 2023)

Operational Metrics:

🔹 Streaming Hours: 32.0B hours; UP +20% YoY

🔹 Streaming Households: 85.5M; UP +13% YoY

🔹 Average Revenue Per User (ARPU): $41.10 (TTM); Flat YoY

Business and Strategic Highlights:

🔸 Roku Channel ranked #3 app by reach and engagement

🔸 Roku OS remains the #1 selling TV OS in the U.S., Mexico, and Canada

🔸 Launched 2024 Roku Ultra with improved performance

🔸 Expanded advertising solutions for small/medium businesses

🔸 Deepened partnership with The Trade Desk, contributing to positive early results in monetization efforts

🔸 Q4 tailwinds expected from political ad spend

CEO Commentary:

🔸 "We are pleased with the execution of our monetization initiatives. The deeper integration with The Trade Desk and tailwinds from political ad spend will continue to positively impact Q4. We remain confident in our ability to grow Platform revenue in 2025 and beyond as we increase ad demand and expand our Home Screen strategy and Roku-billed subscriptions."