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Sep 30, 2023
Roku Q3 2023 Earnings Report
Roku's Active Account net additions accelerated, surpassing 100 billion Streaming Hours on a trailing 12-month basis and achieving positive Adjusted EBITDA due to strong revenue growth and cost reductions.
Key Takeaways
Roku delivered a strong quarter with a 20% YoY increase in total net revenue, driven by content distribution, video advertising, and Roku-branded TV sales. Active Account net adds accelerated, and Streaming Hours surpassed 100 billion on a trailing 12-month basis. Cost reductions and measures to reduce OpEx growth contributed to positive Adjusted EBITDA.
Total net revenue was $912 million, up 20% year over year.
Platform revenue was $787 million, up 18% year over year.
Active Accounts reached 75.8 million, with a net increase of 2.3 million from Q2 2023.
Streaming Hours were 26.7 billion, up 4.9 billion hours year over year.
Roku
Roku
Roku Revenue by Segment
Revenue by Segment
Platform Revenue
CapyFin.comDevices Revenue
CapyFin.com Forward Guidance
For Q4, Roku expects total net revenue of roughly $955 million, total gross profit of roughly $405 million, and Adjusted EBITDA of $10 million. The company remains committed to positive Adjusted EBITDA for the full year 2024, with continued improvements after that.
Revenue & Expenses
Visualization of income flow from segment revenue to net income