Roku delivers “exceptional” Q1
May 7, 2021
Streaming platform and device specialist Roku has released first quarter 2021 results. Total net revenue grew 79 per cent year-on-year to $574.2 million (€475.5m).
In a letter to shareholders, the company said: “Roku delivered an exceptional first quarter led by strong growth in advertising and the expansion of content distribution partnerships. We generated record revenue and gross profit growth, as well as record Adjusted EBITDA. More broadly, the overall secular shift to streaming continues, and Roku benefits as a result of our leading technology and scale. OneView, our ad platform built for TV streaming, connects brands, performance advertisers, and our content partners with their target audience. The Roku Channel continues to perform well, as it provides easy access to content with broad appeal, which attracts viewers, which attracts advertising spend, which in turn enables reinvestment in more content. And our hardware and operating system deliver a best–in–class user experience.”
Q1 2021 Highlights
• Platform revenue increased 101 per cent YoY to $466.5 million;
• Gross profit was up 132 per cent YoY to $326.8 million;
• Roku added 2.4 million incremental Active Accounts in Q1 2021 to reach 53.6 million;
• Streaming Hours increased by 1.4 billion hours over last quarter to 18.3 billion;
• The Roku Channel drove another quarter of record growth, reaching US households with an estimated 70 million people;
• Average Revenue Per User (ARPU) grew to $32.14 (trailing 12-month basis), up 32 per cent YoY;
• Raised approximately $1 billion through an At-The-Market (ATM) stock offering.