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$ROKU (+1,65ย %) Q3'24 Earnings Highlights:


๐Ÿ”น EPS: -$0.06 (Est. -$0.32) ๐ŸŸข

๐Ÿ”น Revenue: $1.06B (Est. $1.02B) ๐ŸŸข; UP +16% YoY

๐Ÿ”น Net Loss: $9.0M (vs. -$330.1M in Q3 2023)


Q4'24 Guidance:

๐Ÿ”น Total Revenue: $1.14B (Est. $1.11B) ๐ŸŸข; UP +16% YoY

๐Ÿ”ธ Platform Revenue: Expected growth of 14% YoY

๐Ÿ”ธ Device Revenue: Expected growth of 25% YoY

๐Ÿ”น Gross Profit: $465M

๐Ÿ”น Adjusted EBITDA: $30M

๐Ÿ”น Net Loss: $65M

๐Ÿ”น Operating Expenses (OpEx): Expected increase of 9% YoY in Q4


Revenue Breakdown:

๐Ÿ”น Platform Revenue: $908.2M; UP +15% YoY

๐Ÿ”น Device Revenue: $154.0M; UP +23% YoY


Key Financial Metrics:

๐Ÿ”น Platform Gross Margin: 54.2%; UP +6.1 pts YoY

๐Ÿ”น Total Gross Margin: 45.2%; UP +4.8 pts YoY

๐Ÿ”น Adjusted EBITDA: $98.2M (vs. $43.4M in Q3 2023)


Operational Metrics:

๐Ÿ”น Streaming Hours: 32.0B hours; UP +20% YoY

๐Ÿ”น Streaming Households: 85.5M; UP +13% YoY

๐Ÿ”น Average Revenue Per User (ARPU): $41.10 (TTM); Flat YoY


Business and Strategic Highlights:

๐Ÿ”ธ Roku Channel ranked #3 app by reach and engagement

๐Ÿ”ธ Roku OS remains the #1 selling TV OS in the U.S., Mexico, and Canada

๐Ÿ”ธ Launched 2024 Roku Ultra with improved performance

๐Ÿ”ธ Expanded advertising solutions for small/medium businesses

๐Ÿ”ธ Deepened partnership with The Trade Desk, contributing to positive early results in monetization efforts

๐Ÿ”ธ Q4 tailwinds expected from political ad spend


CEO Commentary:

๐Ÿ”ธ "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."

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