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Dec 31, 2023
Roku Q4 2023 Earnings Report
Roku's Q4 2023 earnings showcased strong growth in active accounts and streaming hours, with platform revenue up double digits YoY. The company achieved positive Adjusted EBITDA and Free Cash Flow for the full year, ahead of schedule, and is focusing on innovation and growth in 2024.
Key Takeaways
Roku's Q4 2023 results demonstrated solid growth, with active accounts reaching 80 million and streaming hours exceeding 100 billion for the year. Platform revenue increased by 13% YoY in Q4, driving overall revenue growth. The company is prioritizing innovation and growth in 2024, leveraging its platform advantages to enhance viewer experience and monetization.
Active Accounts reached 80 million globally, with Q4 net adds of 4.2 million.
Streaming Hours hit a record 29.1 billion in Q4, and 106 billion for the full year.
Platform revenue grew by 13% YoY in Q4, driven by streaming services distribution and video advertising.
Roku is focusing on innovation and growth in 2024, with emphasis on enhancing viewer experience and monetization.
Revenue by Segment
Forward Guidance
Roku anticipates Total net revenue of $850 million and total gross profit of roughly $370 million for Q1 2024, with break-even Adjusted EBITDA. The company expects to deliver positive Adjusted EBITDA for full year 2024.
Positive Outlook
- Expects to maintain Q4 2023 YoY Platform growth rates in Q1 2024.
Challenges Ahead
- Faces difficult YoY growth rate comparisons in streaming services distribution.
- Navigating a challenging M&E environment for the rest of the year.
- Mindful of near-term challenges in the macro environment.
- Uneven ad market recovery.
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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