Roku, Inc. · NASDAQ:ROKU
Roku — Q1 2026 Earnings Presentation
12 slides from Roku's earnings presentation, Apr 30, 2026
Slide 1: Fellow Shareholders, April 30, 2026
Fellow Shareholders, April 30, 2026 We delivered an outstanding first quarter. Platform revenue grew 28% year over year (YoY), driven by strength in Advertising and Subscriptions – two operating segments we have begun breaking out separately to give investors greater visibility into our business. We
Slide 2: Platform and Advertising
Platform Platform revenue grew 28% YoY to $1.13 billion, with gross margin of 51.6%. The strong performance was driven by meaningful contributions from both Advertising and Subscriptions, demonstrating the increasing diversity of our monetization. The Roku Experience, which includes our Home Screen,
Slide 3: Subscriptions
Geico sponsorship leveraging Marquee Ad Video and Roku City™ Subscriptions Our increased focus on Subscriptions drove strong results, with revenue growing 30% YoY to $519 million and gross margin of 41.1%. Excluding Frndly, Subscriptions revenue grew 23% YoY. Q1 was our highest quarter ever for Prem
Slide 4: Premium Subscriptions and Devices
Channel, enabling them to enjoy a broad variety of great entertainment in a single app. We see a large opportunity to continue growing Premium Subscriptions, as the experience provides ease and value for both our viewers and our content partners. In the broader SVOD category, which includes Premium
Slide 5: Devices and Outlook
sales grew YoY, powered by the continued ramp of Hiro Roku TVs at Target, successful relaunches at Best Buy, and strength on Amazon. On the macro front, we are closely monitoring pricing pressure from tightening memory chip supply that is impacting the entire electronics industry. While we expect hi
Slide 6: Use of Non-GAAP Measures
affiliates. Trade names, trademarks and service marks of other companies appearing in this shareholder letter are the property of their respective holders. Investor Relations Media Conrad Grodd Kelli Raftery cgrodd@roku.com kraftery@roku.com Use of Non-GAAP Measures In addition to financial informat
Slide 7: Condensed Consolidated Statements of Operations
ROKU, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except per share data) (unaudited) Three Months Ended 3/31/2026 3/31/2025 Net revenue: Platform: Advertising $ 612,705 $ 482,823 Subscriptions 518,525 397,994 Total Platform 1,131,230 880,817 Devices 117,649 139,855 Total net
Slide 8: Statements of Operations, Continued
ROKU, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS, CONTINUED (in thousands, except per share data) (unaudited) Three Months Ended 3/31/2026 3/31/2025 Net income (loss) per share — basic $ 0.58 $ (0.19) Net income (loss) per share — diluted $ 0.57 $ (0.19) Weighted-average common shares outs
Slide 9: Condensed Consolidated Balance Sheets
ROKU, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands, except par value data) (unaudited) As of 3/31/2026 12/31/2025 Assets Current assets: Cash and cash equivalents $ 1,649,877 $ 1,587,068 Short-term investments 730,342 730,213 Accounts receivable, net of allowances of $57,152 and $80,448
Slide 10: Condensed Consolidated Statements of Cash Flows
ROKU, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (in thousands) (unaudited) Three Months Ended 3/31/2026 3/31/2025 Cash flows from operating activities: Net income (loss) $ 85,700 $ (27,431) Adjustments to reconcile net income (loss) to net cash provided by operating activities: Depreciati
Slide 11: Statements of Cash Flows, Continued
ROKU, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS, CONTINUED (in thousands) (unaudited) Three Months Ended 3/31/2026 3/31/2025 Cash, cash equivalents and restricted cash at end of period: Cash and cash equivalents $ 1,649,877 $ 2,256,153 Restricted cash, current — 403 Cash, cash equivalents
Slide 12: Non-GAAP Information
NON-GAAP INFORMATION (in thousands) (unaudited) Reconciliation of Net Income (Loss) to Adjusted EBITDA: Three Months Ended 3/31/2026 3/31/2025 Net income (loss) $ 85,700 $ (27,431) Total other income, net (36,873) (17,216) Stock-based compensation 78,682 95,494 Depreciation and amortization 17,928 1