On February 15, 2024, Roku Inc. released its financial results for the fourth quarter and the full year ended December 31, 2023. The company reported a total net revenue of $3.5 billion, marking an 11% increase year over year, with platform revenue contributing $3.0 billion, up by 10%. Gross profit rose to $1.5 billion, a 6% increase from the previous year. Active accounts reached 80 million, a net increase of 10 million from 2022, and streaming hours totaled 106 billion, an 18.6 billion hour increase year over year. However, Average Revenue Per User (ARPU) decreased by 4% to $39.92. Notably, Roku achieved positive Adjusted EBITDA and Free Cash Flow for the year, surpassing their own schedule. The shareholder letter highlighted Roku's business model, focusing on scale, engagement, and monetization, and detailed their market-leading scale, engagement...Show More

On February 15, 2024, Roku Inc. released its financial results for the fourth quarter and the full year ended December 31, 2023. The company reported a total net revenue of $3.5 billion, marking an 11% increase year over year, with platform revenue contributing $3.0 billion, up by 10%. Gross profit rose to $1.5 billion, a 6% increase from the previous year. Active accounts reached 80 million, a net increase of 10 million from 2022, and streaming hours totaled 106 billion, an 18.6 billion hour increase year over year. However, Average Revenue Per User (ARPU) decreased by 4% to $39.92. Notably, Roku achieved positive Adjusted EBITDA and Free Cash Flow for the year, surpassing their own schedule. The shareholder letter highlighted Roku's business model, focusing on scale, engagement, and monetization, and detailed their market-leading scale, engagement strategies, and monetization efforts. The company also announced the launch of Roku Pro Series TVs, set to be available in the U.S. in spring 2024. Looking forward, Roku anticipates maintaining its Q4 2023 year-over-year platform growth rates into Q1 2024, with an expected total net revenue of $850 million and break-even Adjusted EBITDA. The company plans to continue focusing on innovation and growth, leveraging its platform to drive future revenue increases.