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Dec 31, 2021
Roku Q4 2021 Earnings Report
Roku's Q4 2021 earnings demonstrated strong growth in revenue and active accounts, but profitability was impacted by supply chain disruptions and increased investments.
Key Takeaways
Roku's Q4 2021 results showed a 33% increase in total net revenue to $865.3 million, driven by a 49% increase in platform revenue. Active accounts reached 60.1 million, and streaming hours increased to 19.5 billion. However, income from operations decreased by 67% to $21.4 million, and adjusted EBITDA decreased by 24% to $86.7 million.
Total net revenue grew by 33% year-over-year to $865.3 million.
Platform revenue increased by 49% year-over-year to $703.6 million.
Active accounts reached 60.1 million, a 17% increase year-over-year.
Streaming hours increased by 15% year-over-year to 19.5 billion hours.
Revenue by Segment
Forward Guidance
Roku anticipates total net revenue of $720 million, total gross profit of roughly $360 million, and adjusted EBITDA of $55 million for Q1 2022.
Positive Outlook
- The global shift to TV streaming remains intact.
- Account acquisition will remain a priority.
- Platform gross margin of around 60% is expected as the business mix normalizes toward video advertising.
- There remains an enormous opportunity to capture through competitive differentiators.
- Continued aggressive investment in strategic initiatives to drive growth and enhance competitive differentiation.
Challenges Ahead
- Ongoing supply chain disruptions will continue to impact the global economy.
- Overall TV unit sales are likely to remain below pre-COVID levels, which could affect active account growth.
- Intention to continue to insulate customers from elevated costs in our player business will continue to cause negative player gross margins until conditions normalize.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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