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Sep 30, 2022
Roku Q3 2022 Earnings Report
Delivered meaningful growth in scale and engagement
Key Takeaways
Roku's Q3 2022 results showed a 12% year-over-year increase in total net revenue, reaching $761 million. The company added 2.3 million incremental active accounts, bringing the total to 65.4 million. Streaming hours increased to 21.9 billion, and ARPU grew by 10% year-over-year to $44.25. Platform revenue grew 15% year over year to $670 million.
Total net revenue grew 12% year-over-year to $761 million.
Platform revenue increased 15% year-over-year to $670 million.
Roku added 2.3 million incremental Active Accounts in Q3 2022 to reach 65.4 million.
Streaming Hours were 21.9 billion hours, an increase of 1.1 billion hours from last quarter.
Roku
Roku
Roku Revenue by Segment
Revenue by Segment
Platform Revenue
CapyFin.comDevices Revenue
CapyFin.com Forward Guidance
The company expects macro environment to further pressure consumer discretionary spend and degrade advertising budgets in Q4. Q4 outlook is for total net revenue of roughly $800 million, total gross profit of roughly $325 million, and adjusted EBITDA of negative $135 million.
Positive Outlook
- Significant scale
- Direct relationship with tens of millions of consumers
- Ad proposition that delivers measurable ROI to marketers
- Exceptional user experience
- Broad array of free entertainment through The Roku Channel
Challenges Ahead
- Macro environment to further pressure consumer discretionary spend
- Degraded advertising budgets, especially in the TV scatter market
- Expect Q4 Player revenue to be lower year over year
- Expect Platform revenue to be lower year over year
- It will take a few more quarters for YoY OpEx growth rate to normalize
Revenue & Expenses
Visualization of income flow from segment revenue to net income