Roku delivered strong Q3 2024 results with total net revenue reaching $1.062 billion, up 16% YoY, marking its first quarter exceeding $1 billion. Platform revenue grew 15% YoY to $908 million with 54.2% gross margin. The company achieved its fifth consecutive quarter of positive Adjusted EBITDA at $98.2 million and Free Cash Flow.Streaming engagement continued to grow, with global streaming hours increasing 20% YoY to 32 billion hours. The Roku Channel maintained its position as the #3 app on the platform by reach and engagement for the third straight quarter, with streaming hours up 80% YoY. The company expanded its advertising capabilities through new initiatives including Roku Ads Manager for small businesses and deeper integration with The Trade Desk.Looking ahead, Roku expects Q4 total net revenue of $1.14 billion, up 16% YoY, with Platform revenue growing 14% YoY. The company projects Q4 gross profit of $465 million and Adjusted EBITDA of $30 million. Management remains confident in Platform revenue growth for 2025 and beyond, focusing on expanding ad demand, leveraging the Home Screen, and growing Roku-billed subscriptions.

Roku delivered strong Q3 2024 results with total net revenue reaching $1.062 billion, up 16% YoY, marking its first quarter exceeding $1 billion. Platform revenue grew 15% YoY to $908 million with 54.2% gross margin. The company achieved its fifth consecutive quarter of positive Adjusted EBITDA at $98.2 million and Free Cash Flow.Streaming engagement continued to grow, with global streaming hours increasing 20% YoY to 32 billion hours. The Roku Channel maintained its position as the #3 app on the platform by reach and engagement for the third straight quarter, with streaming hours up 80% YoY. The company expanded its advertising capabilities through new initiatives including Roku Ads Manager for small businesses and deeper integration with The Trade Desk.Looking ahead, Roku expects Q4 total net revenue of $1.14 billion, up 16% YoY, with Platform revenue growing 14% YoY. The company projects Q4 gross profit of $465 million and Adjusted EBITDA of $30 million. Management remains confident in Platform revenue growth for 2025 and beyond, focusing on expanding ad demand, leveraging the Home Screen, and growing Roku-billed subscriptions.