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Jun 30, 2022
Roku Q2 2022 Earnings Report
Slowdown in TV advertising spend impacted platform revenue growth; however, active accounts continued to grow.
Key Takeaways
Roku's Q2 2022 results were affected by a slowdown in TV advertising spend due to the macroeconomic environment. Total net revenue grew 18% year over year to $764 million, with platform revenue increasing 26% year over year to $673 million. The company added 1.8 million incremental active accounts, reaching 63.1 million.
Total net revenue grew 18% year over year to $764 million.
Platform revenue increased 26% year over year to $673 million.
Gross profit was up 5% year over year to $355 million.
Roku added 1.8 million incremental active accounts to reach 63.1 million.
Roku
Roku
Roku Revenue by Segment
Revenue by Segment
Platform Revenue
CapyFin.comDevices Revenue
CapyFin.com Forward Guidance
Roku anticipates total net revenue of approximately $700 million and total gross profit of roughly $325 million for Q3 2022. Adjusted EBITDA is expected to be negative $75 million.
Challenges Ahead
- Advertising spend, particularly in the scatter market, will continue to be negatively impacted.
- Consumer discretionary spend will continue to moderate, pressuring both Roku TV and Roku player sales.
- Economic environment defined by recessionary fears.
- Inflationary pressures.
- Rising interest rates and ongoing supply chain disruptions.
Revenue & Expenses
Visualization of income flow from segment revenue to net income