Roku delivered a strong quarter of operational and financial performance in Q1 2018.
In a statement, the streaming device manufacturer said: “The secular shift from legacy TV distribution to streaming continues unabated. Our purpose-built TV operating system and advertising platform continue to lead the market. Moreover, our advertising and content partners are benefiting from our increasing scale. Nearly half of our roughly 21 million active users have cut the cord or have never had a traditional pay TV subscription, which means that they simply cannot be reached through linear TV. This makes our strategic position in the living room extremely valuable.”
In the first quarter, Roku’s platform segment revenue more than doubled, as active accounts grew 47 per cent year-over-year and ARPU increased 50 per cemt. As a result, the company is raising its full year 2018 outlook.
Q1 2018 highlights include:
•Total net revenue up 36 per cent YoY to $136.6 million;
•Platform revenue up 106 per cent YoY to $75.1 million;
•Gross profit up 62 per cent YoY to $63.1 million;
•Active accounts up 47 per cent YoY to 20.8 million at quarter end;
•Streaming Hours up 56 per cent YoY to 5.1 billion hours;
•Average Revenue Per User (ARPU) up 50 per cent YoY to $15.07 (trailing 12-month basis);
•One in four smart TVs sold in the US were Roku TVs.