Skip to content
AnalystLens

Roku 8-K Report, Financial Results (Oct 30, 2025)

Reports
Earnings & Results·Exhibits & Filings
Filing Date
Filed October 30, 2025
Period End
October 30, 2025
Security
ROKU
In the record · 2017–202610-K910-Q288-K95

ROKU filed 9 annual reports (10-K), 28 quarterly reports (10-Q) and 95 current reports (8-K) between 2017 and 2026.

  1. Material agreement8-K · Mar ’19Mar ’19
  2. Material agreement8-K · Mar ’21Mar ’21
  3. Restructuring8-K · Mar ’23Mar ’23
  4. Leadership change8-K · Jan ’25Jan ’25

01—Abstract

Summary

Summary of the 8-K filed October 30, 2025. Cited figures are marked; the original filing is the authoritative source.

Roku, Inc. reported financial results for the quarter ended September 30, 2025, in a shareholder letter furnished as Exhibit 99.1 to this Form 8-K.

Third-quarter total net revenue was $1.211 billiona, up 14% year over year, and Platform revenue was $1.065 billion, up 17%. Total gross profit was $525 million, up 9%. Operating income was $9.5 million, compared with a loss from operations of $(35.8) million a year earlier.

Management said this was positive operating income ahead of schedule and the first time since 2021. Net income was $24.8 millionb, compared with a net loss of $(9.0) million in the prior-year quarter. Adjusted EBITDA was $116.9 million, up 19%, and trailing-twelve-month free cash flow was $443.0 million.

Devices revenue fell 5% to $146 millionc, with a gross loss of $(22.9) million. For the fourth quarter of 2025, Roku expects total net revenue of approximately $1.35 billion, Platform revenue growth of 15% year over year, total gross profit of approximately $575 million, and Adjusted EBITDA of roughly $145 million. For full-year 2025, the company raised its Platform revenue outlook to $4.11 billion and set Adjusted EBITDA at $395 million, with total net revenue of $4.69 billion and net income of $50 million.

Management stated it expects double-digit Platform revenue growth and increasing operating margins in 2026 and beyond. During the quarter, Roku repurchased $50 milliond of common stock under a $400 million repurchase program.

Cash and cash equivalents were $1.58 billion at September 30, 2025, and short-term investments were $726.9 million. The letter also highlights the September integration of AppsFlyer, the expanded FreeWheel integration, the Frndly TV acquisition contributing to streaming services distribution, and the launch of Howdy, an ad-free SVOD service priced at $2.99 per month.

02—Key points

Key Highlights

  1. Q3 2025 total net revenue of $1.211 billion, up 14% year over year; Platform revenue of $1.065 billion, up 17%.
  2. Income from operations of $9.5 million, versus a loss of $(35.8) million in Q3 2024; management called it the first positive operating income since 2021.
  3. Net income of $24.8 million versus a net loss of $(9.0) million a year earlier; Adjusted EBITDA of $116.9 million, up 19%.
  4. Q4 2025 outlook: total net revenue of approximately $1.35 billion, gross profit of approximately $575 million, and Adjusted EBITDA of roughly $145 million.
  5. Full-year 2025 outlook raised: Platform revenue of $4.11 billion and Adjusted EBITDA of $395 million.
  6. Repurchased $50 million of common stock under a $400 million stock repurchase program; trailing-twelve-month free cash flow was $443.0 million.
  7. Devices revenue of $146 million, down 5% year over year, with gross margin of (16%) in the quarter, in line with management's outlook.

03—Questions

Frequently Asked Questions

  1. How did Roku's core Platform business perform in the third quarter of 2025?

    Platform revenue was $1.065 billion, up 17% year over year, driven by video advertising and streaming services distribution. Platform gross margin was 51.5%, which management said was 50 basis points above its outlook.

  2. Did Roku become profitable in the quarter?

    Roku reported income from operations of $9.5 million and net income of $24.8 million for the quarter, compared with an operating loss of $(35.8) million and a net loss of $(9.0) million in the third quarter of 2024.

  3. What is Roku's guidance for the fourth quarter and full year 2025?

    For Q4 2025, Roku expects total net revenue of approximately $1.35 billion, total gross profit of approximately $575 million, net income of $40 million, and Adjusted EBITDA of roughly $145 million. For full-year 2025, it raised its Platform revenue outlook to $4.11 billion and expects Adjusted EBITDA of $395 million, net income of $50 million, and total net revenue of $4.69 billion.

  4. How is Roku returning capital to shareholders?

    During the quarter, Roku repurchased $50 million of its common stock under a $400 million stock repurchase program. Nine-month repurchases of common stock totaled $50 million, and the company reported $1.58 billion in cash and cash equivalents and $726.9 million in short-term investments as of September 30, 2025.

04—Continue

← View all 8-K filings