Loading...
•
Jun 30, 2021
Roku Q2 2021 Earnings Report
Roku delivered strong results driven by platform monetization.
Key Takeaways
Roku reported a strong second quarter with record revenue growth, driven by exceptional performance in platform monetization. Total net revenue grew 81% year-over-year to $645 million, with platform revenue increasing 117% year-over-year to $532 million. Active accounts reached 55.1 million, and streaming hours were 17.4 billion. Average Revenue Per User (ARPU) grew to $36.46, up 46% year-over-year.
Total net revenue grew 81% year-over-year to $645 million.
Platform revenue increased 117% year-over-year to $532 million.
Gross profit was up 130% year-over-year to $338 million.
Active Accounts reached 55.1 million.
Roku
Roku
Roku Revenue by Segment
Revenue by Segment
Platform Revenue
CapyFin.comDevices Revenue
CapyFin.com Forward Guidance
Roku's Q3 outlook includes total net revenue of $680 million at the midpoint (up 51% year-over-year) and total gross profit of $320 million at the midpoint (up 49% year-over-year). Adjusted EBITDA is expected to be $65 million at the midpoint.
Positive Outlook
- Total net revenue of $680 million at the midpoint (up 51% year-over-year)
- Total gross profit of $320 million at the midpoint (up 49% year-over-year)
- Monetization remains strong within the Platform segment.
- Continued significant growth expected in the second half of the year within the Platform segment.
- Roku remains very well positioned to benefit from the long-term secular trend of audiences.
Challenges Ahead
- Global supply chain constraints and component cost increases to worsen in the second half of 2021, leading to increasing negative player gross margin.
- Industry supply chain constraints and cost increases for streaming players and TV OEM partners will continue into 2022.
- Varying rates of recovery from the pandemic around the world continue to present an uncertain operating environment.
- Expect quarterly sequential increases in operating expenses in the second half of 2021 from investments in headcount, product development, and sales & marketing.
- Adjusted EBITDA to be $65 million at the midpoint in Q3.
Revenue & Expenses
Visualization of income flow from segment revenue to net income