Roku: Active accounts at 75.8m
November 2, 2023
Roku, the streaming specialist, has reported Q3 net revenue of $912 million (€856.4m), up 20 per cent year over year. Platform revenue was up $787 million (up 18 per cent YoY) and gross profit was $369 million (up 3 per cent YoY).
Active accounts were at 75.8 million, a net increase of 2.3 million from Q2 2023. Streaming hours were at 26.7 billion (up 4.9 billion hours YoY) and Average Revenue Per User (ARPU) was $41.03 (down 7 per cent YoY).
In a letter to shareholders, Roku said: “We delivered a strong quarter. Active Account net adds accelerated quarter over quarter, and for the first time Streaming Hours surpassed 100 billion on a trailing 12-month basis. We grew total net revenue 20 per cent YoY through strong performance in content distribution and video advertising, along with unit sales of Roku-branded TVs, which launched in March 2023. This strong top-line growth, in addition to cost reductions and measures we announced in September to further reduce our YoY OpEx growth rate, enabled us to deliver positive Adjusted EBITDA. We remain commited to achieving positive adjusted EBITDA for full year 2024 with continued improvements after that. We will balance this commitment with investments to further expand our scale, engagement, and monetisation”.