Key Results
• Total net revenue grew 81% year-over-year (YoY) to $645 million (Est. 618.54M)
EPS $0.52 vs est. $0.12
• Platform revenue increased 117% YoY to $532 million
• Gross profit was up 130% YoY to $338 million
• Active Accounts reached 55.1 million, an increase of 1.5 million active accounts from Q1 2021
• Streaming hours were 17.4 billion hours, a decrease of 1.0 billion hours from Q1 2021
• Average Revenue Per User (ARPU) grew to $36.46 (trailing 12-month basis), up 46% YoY
https://image.roku.com/c3VwcG9ydC1B/2Q21-Roku-Shareholder-Le…
“Roku delivered a strong second quarter, with record revenue growth that was driven by exceptional performance in platform monetization. Audiences, content, and advertisers continue their shift to TV streaming around the globe, and Roku is a key enabler of this long-term secular trend. We more than doubled monetized video ad impressions year-over-year, and leading media companies are increasingly turning to Roku’s tools to grow their DTC (direct to consumer) services. Looking ahead, our recent success at the Upfronts demonstrates the
accelerating shift of advertisers from traditional TV to TV streaming. We closed commitments with all seven major agency holding companies, doubling dollar commitments year-over-year. We believe that our leading technology, platform scale, and the value we provide content providers, advertisers, and consumers all position us well for long-term growth.”
Outlook ($ in millions) Q3 2021E Total net revenue $675 - $685
Total gross profit $315 - $325 Net income (loss) ($3) - $7
Adjusted EBITDA 2 $60 - $70
There were multiple expense warnings in the releas “we anticipate quaterly sequential increases in operating expenses in the second hald of 2021 from our investments in headcount, product development, and sales and marketing”.
Stock price is down 8%-10% AH.