ROKU · Roku

132 filings

ROKU SEC Filings

Roku - 132 total filings

Filing record · 2017–202610-K910-Q288-K95

Showing 1–50 of 132 filings

Roku 8-K Report, Financial Results (Nov 2, 2026)

Roku, Inc. reported results for the quarter ended September 30, 2026 in a Shareholder Letter furnished as Exhibit 99.1 to this Form 8-K. Total net revenue was $1.5 billion, up 24% year over year, led by Platform revenue of $1.3 billion, up 23%, with Advertising and Subscriptions both up 23%. Total gross profit was $649 million, up 24%, and income from operations was $164.1 million, compared with $9.5 million a year earlier. Net income was $183.3 million, and Adjusted EBITDA was $248.8 million, with trailing-twelve-month free cash flow of $795.7 million. Devices revenue was $193.7 million, up 33%, but Devices gross margin was (25.1%), which the company attributed primarily to elevated memory costs. Management highlighted growth in Advertising, where gross margin rose to 63.2% on a mix shift toward higher-margin ad products, and noted that Subscriptions gross margin declined to 40.9% due to a strategic mix shift toward Premium Subscriptions. Streaming Hours were 39.9 billion, up 9%. The company said it remains on track with the second-half 2026 forecast provided in the proxy statement. The letter states that Fox Corporation agreed on June 15, 2026 to acquire Roku under a definitive agreement, which is pending. Because of the pending transaction, Roku will not host an earnings call and will not provide a financial outlook. The letter also cites $13.6 million of merger-related costs in the quarter.

Nov 2, 2026 10-Q

Roku Quarterly Report for Q3 Ended Sep 30, 2026

Roku, Inc. reported third-quarter 2026 total net revenue of $1.50 billion, up from $1.21 billion a year earlier, with Platform revenue of $1.31 billion (Advertising $727.4 million, Subscriptions $580.9 million) and Devices revenue of $193.7 million. Income from operations was $164.1 million versus $9.5 million a year earlier, and net income was $183.3 million, or $1.20 per diluted share, compared with $24.8 million, or $0.16 per diluted share. Adjusted EBITDA, a non-GAAP measure, was $248.8 million versus $116.9 million. The quarter included a $22.3 million net credit from terminating a portion of a previously impaired corporate lease and $13.6 million of merger-related costs. The company ended the quarter with cash and cash equivalents of $2.52 billion and short-term investments of $201.8 million, and had not borrowed under its $300.0 million revolving Credit Agreement. Nine-month operating cash flow was $703.2 million, and repurchases of common stock totaled $162.7 million before the program was suspended in connection with the pending merger. Devices gross profit remained negative at $(48.6) million for the quarter. The dominant event in the filing is the proposed merger with Fox Corporation under an agreement signed June 14, 2026. Each Roku share would receive 0.9693 of a Fox Class A share plus $96.00 in cash, with former Roku stockholders expected to own about 27% of the combined company. The U.S. Department of Justice issued a Second Request on September 8, 2026, which extends the HSR waiting period. Termination fees are $866.1 million payable by Roku and $1.2 billion payable by Fox in specified circumstances.

Nov 2, 2026 8-K

Roku 8-K Report, Shareholder Vote Results (Oct 15, 2026)

Roku, Inc. filed this Current Report on Form 8-K to report the results of a special meeting of stockholders held on October 14, 2026, at which stockholders voted on proposals related to its previously announced merger with Fox Corporation. Under the Merger Agreement dated June 14, 2026, Merger Sub 1 will merge into Roku, with Roku continuing as the surviving corporation and becoming a wholly owned subsidiary of FOX, followed immediately by a second merger of the Surviving Corporation into Merger Sub 2, an LLC that will continue as a wholly owned FOX subsidiary. Stockholders adopted the Merger Agreement and the transactions contemplated by it, including the Mergers, with 241,044,988 votes for, 502,927 against, and 511,598 abstentions, representing 81.5% of votes outstanding in favor. In an advisory, non-binding vote, stockholders also approved the merger-related compensation that may be paid to Roku's named executive officers, with 240,438,251 votes for, 864,190 against, and 757,072 abstentions, representing 99.3% of votes present in favor. The adjournment proposal was rendered moot by the approval of the Merger Proposal and was not voted on. The filing's forward-looking statements caution that completion of the Transactions depends on anticipated terms and timing, including regulatory approvals, and that the Transactions could fail to close or deliver the expected benefits. Full details of the proposals are contained in the joint proxy statement/prospectus filed on September 1, 2026.

Oct 15, 2026 8-K

Roku 8-K Report, Corporate Update (Oct 6, 2026)

Roku, Inc. filed this Form 8-K to supplement the Joint Proxy Statement/Prospectus for its proposed merger with Fox Corporation. Under the June 14, 2026 Merger Agreement, Merger Sub 1 will merge into Roku, with Roku surviving as a wholly owned subsidiary of FOX. Immediately afterward, the Surviving Corporation will merge into Merger Sub 2, which will continue as the surviving entity. The Registration Statement on Form S-4 was declared effective on September 1, 2026, and the Joint Proxy Statement/Prospectus was mailed to stockholders on or about that date. The supplemental disclosures respond to demand letters from purported Roku stockholders alleging omissions or misstatements in the Joint Proxy Statement/Prospectus. The most investor-relevant additions concern the financial advisor Qatalyst Partners' discounted cash flow analysis. For Roku on a standalone basis, the implied present value of unlevered free cash flows uses discount rates of 12.5% to 18.0%, and Roku's projected cash as of June 30, 2026 is approximately $2.43 billion. For the combined company, the discount rates are 9.0% to 13.0%, and estimated combined net debt of Roku and FOX as of June 30, 2026 is approximately negative $630 million, excluding the impact of the Mergers. The filing also adds fully diluted enterprise values and CY2026E EBITDA multiples for selected companies in the consumer ad-driven, streaming subscription and ad-tech groups. Roku states that it believes the demand letters are without merit and denies all allegations, and that the supplements are voluntary and not an admission of materiality. The filing also clarifies transaction and retention bonus limits. The aggregate value of transaction bonuses may not exceed $13,000,000, with a maximum of $2,000,000 for any individual who reports directly to the CEO and $600,000 for any other individual. Named executive officers may be eligible, except Mr. Wood, who will receive neither a transaction nor a retention bonus. Recipients and final allocations remain subject to Roku's approval. Roku notes that additional lawsuits or demand letters may be received and will not necessarily be publicly disclosed.

Oct 6, 2026 8-K

Roku 8-K Report, Corporate Update (Sep 9, 2026)

Roku, Inc. (ROKU) disclosed in a Form 8-K filed September 9, 2026 that, as expected, it and Fox Corporation (FOX) each received a Second Request from the U.S. Department of Justice on September 8, 2026, in connection with the DOJ's review of the proposed mergers under the Agreement and Plan of Merger dated June 14, 2026. Under the merger agreement, Falcon Merger Sub 1, Inc. will merge into Roku with Roku surviving as a wholly owned subsidiary of Fox, followed immediately by a second merger of the Surviving Corporation into Falcon Merger Sub 2, LLC, with Merger Sub 2 as the surviving entity. The Second Request extends the HSR Act waiting period until 30 days after both companies have substantially complied with the request, unless the DOJ terminates the waiting period earlier or the parties agree to an extension. Roku and Fox state they will continue to cooperate with the DOJ. Roku expects the mergers to close by the first half of calendar year 2027, subject to expiration or termination of the HSR waiting period, other customary closing conditions, and approval by stockholders of both companies. The filing also notes that the Form S-4 registration statement was declared effective on September 1, 2026, and the joint proxy statement/prospectus was mailed to stockholders on or about that date. The filing is largely procedural and does not state deal value, consideration terms, or financial results.

Sep 9, 2026 8-K

Roku 8-K Report, Financial Results (Aug 6, 2026)

Roku, Inc. furnished a Form 8-K dated August 6, 2026, attaching its Q2 2026 Shareholder Letter (Exhibit 99.1), which reports results for the quarter ended June 30, 2026. Total net revenue was $1.35 billion, up 22% YoY, and Platform revenue was $1.22 billion, up 25% YoY. Advertising revenue grew 25% YoY to $673 million with a gross margin of 62.4%, and Subscriptions revenue grew 26% YoY to $548 million with a gross margin of 41.4%. Total gross profit was $674 million, up 35% YoY. Net income was $164 million and Adjusted EBITDA was $254 million, both described by the company as record highs, and trailing-twelve-month Free Cash Flow was $704 million. Operating income was $146.2 million, compared with a loss of $23.3 million a year earlier. Devices revenue was $134 million, down 1% YoY, and its gross margin of 20.1% benefited from an IEEPA tariff refund for payments made from Q2 2025 through Q1 2026. Excluding the refund, the company states that Q2 Devices gross margin would have been (7.6%), net income would have been $127 million, and Free Cash Flow would have been $242 million. Merger-related costs of $18.7 million were excluded from Adjusted EBITDA. The letter states that Roku has a pending acquisition by Fox Corporation, under a definitive agreement announced June 15, 2026. Because of the pending transaction, the company will not host an earnings call and will not provide a financial outlook. The information in Item 2.02 and Exhibit 99.1 is furnished and not deemed filed for purposes of Section 18 of the Exchange Act.

Aug 6, 2026 10-Q

Roku Quarterly Report for Q2 Ended Jun 30, 2026

Roku, Inc. reported strong second-quarter 2026 results in this Form 10-Q for the period ended June 30, 2026. Total net revenue was $1,354.7 million for the three months ended June 30, 2026, up from $1,111.0 million a year earlier, and Platform revenue (Advertising plus Subscriptions) rose to $1,221.0 million from $975.5 million. Advertising revenue was $672.8 million and Subscriptions revenue was $548.2 million, while Devices revenue slipped to $133.7 million from $135.6 million. Income from operations was $146.2 million versus a loss of $23.3 million in the prior-year quarter, and net income was $164.2 million, or $1.08 per diluted share, compared with $10.5 million, or $0.07 per diluted share. Adjusted EBITDA, a non-GAAP measure, was $254.3 million versus $78.2 million, and Free Cash Flow for the trailing twelve months was $704.1 million versus $392.0 million. The most important item for investors is the pending merger with Fox Corporation, signed June 14, 2026. Roku stockholders would receive 0.9693 shares of Fox Class A common stock plus $96.00 in cash per share, and the filing states former Roku stockholders would own approximately 27% of the combined company on a pro forma basis. Closing is anticipated in the first half of 2027 and is subject to stockholder approvals, HSR Act clearance and other conditions. The merger agreement includes a $866.1 million termination fee payable by Roku in certain circumstances and a $1.2 billion fee payable by Fox in certain circumstances. Merger-related costs of $18.7 million were recorded in the quarter, and the company suspended its share repurchase program in the second quarter. Balance sheet liquidity remained substantial, with cash and cash equivalents of $2,001.8 million and short-term investments of $555.4 million at June 30, 2026, and no borrowings under the $300.0 million revolving Credit Agreement. The filing also discloses that the company expects to record a credit of approximately $22 million to operating expenses in the third quarter of 2026 related to a lease termination.

Aug 6, 2026 8-K

Roku 8-K Report, Corporate Update (Jun 18, 2026)

Roku, Inc. filed this Form 8-K on June 18, 2026 to recast its financial information for a change in segment reporting. Effective in the first quarter of 2026, Roku reports three segments (Advertising, Subscriptions, and Devices) instead of treating Advertising and Subscriptions as one combined Platform segment. The filing updates Items 1, 7, and 8 of the 2025 Form 10-K, with Exhibit 99.1 containing the updated portions. The company states the change had no impact on previously reported results of operations, financial condition, or cash flows, and that the filing is not a restatement or an amendment to the 2025 Form 10-K. The recast figures show the scale of each segment for fiscal 2025. Advertising revenue was $2.33 billion, Subscriptions revenue was $1.82 billion, and Devices revenue was $0.59 billion, for total net revenue of $4.74 billion. Platform revenue, the combined Advertising and Subscriptions figure, rose to $4.1 billion from $3.5 billion. Subscriptions revenue grew 25%, driven by a 10% increase in subscriptions and a 20% increase in average price per subscription, with contributions from the Frndly TV acquisition and the Howdy launch. Advertising revenue grew 13%, mainly on a 68% increase in video impressions, partly offset by a 28% decline in average price per impression. Devices revenue was essentially flat, and the Devices segment reported a gross loss of $82.0 million. For investors, the filing is primarily a presentation update rather than new operating news. Key profitability and liquidity figures cited in the filing include net income of $88.4 million for 2025 (versus a net loss of $129.4 million in 2024), Adjusted EBITDA of $420.5 million (versus $260.2 million), and Free Cash Flow of $483.6 million on a trailing twelve-month basis (versus $203.2 million). Cash and cash equivalents were $1.59 billion and short-term investments were $0.73 billion as of December 31, 2025. The filing also notes a $300.0 million revolving credit facility, under which the company had not borrowed as of that date.

Jun 18, 2026 8-K

Roku 8-K Report, Shareholder Vote Results (Jun 17, 2026)

Roku, Inc. held its annual meeting of stockholders by live webcast on June 11, 2026, and stockholders voted on three proposals described in the company's 2026 Proxy Statement, filed with the SEC on April 24, 2026. This 8-K reports the certified voting results and does not disclose any new financial results, transactions, or strategic developments. Stockholders elected three Class III directors, Jeffrey Hastings, Neil Hunt, and Anthony Wood, to serve until the 2029 annual meeting. Hunt received the highest share of votes in favor at 94.9%, followed by Wood at 91.8% and Hastings at 83.8%. Each nominee also had votes withheld and 19,461,664 broker non-votes. Stockholders also approved, on an advisory basis, the compensation of the named executive officers, with 213,827,937 votes for, 36,344,270 against, 132,411 abstentions, and 19,461,664 broker non-votes, which the filing reports as 85.4% in favor. Stockholders ratified Deloitte & Touche LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2026, with 268,465,112 votes for, 937,194 against, and 363,976 abstentions, which the filing reports as 99.5% in favor.

Jun 17, 2026 8-K

Roku 8-K Report, Material Agreement (Jun 15, 2026)

Roku, Inc. entered into an Agreement and Plan of Merger on June 14, 2026, with Fox Corporation (Parent) and two Fox merger subsidiaries. Under the agreement, Roku becomes a wholly owned subsidiary of Fox through a two-step merger. Each Roku Class A and Class B share will convert into $96.00 in cash plus 0.9693 shares of Fox Class A common stock, which the press release values at $160.00 per Roku share. The press release states the deal values Roku at approximately $22 billion in enterprise value. Roku stockholders are expected to own approximately 27% of the combined company, and Fox stockholders approximately 73%. The Roku Board has unanimously approved the agreement and recommended that stockholders adopt it. Closing is subject to Roku stockholder adoption, the expiration or early termination of the HSR waiting period and other antitrust and foreign investment approvals, an effective Form S-4 registration statement, and approval of the Fox share issuance by Fox Class B holders. The agreement can be terminated if the Mergers are not completed by June 14, 2027, extendable to December 14, 2027 and then March 14, 2028 under certain circumstances. Termination fees are $866,084,000 payable by either party in certain cases and $1,237,262,000 payable by Fox in certain regulatory or antitrust scenarios. Fox would also reimburse Roku's third-party expenses up to $70,000,000 if Fox stockholder approval is not obtained. Stockholders holding approximately 55% of Roku's voting power and Fox holders of approximately 38.7% of Fox's voting power have signed voting and support agreements. The press release says the transaction is expected to close in the first half of calendar year 2027. Fox's press release says it has obtained $12.0 billion of fully committed bridge financing for the cash portion, expects pro forma net leverage of approximately 2.8x at closing (including 50% credit for run-rate cost synergies), and expects approximately $400 million of run-rate cost synergies. Anthony Wood, Roku's founder and CEO, will continue with the combined company and join the Fox Board after closing.

Jun 15, 2026 10-Q

Roku Quarterly Report for Q1 Ended Mar 31, 2026

Roku, Inc. reported first-quarter 2026 results in this Form 10-Q. Total net revenue was $1.25 billion versus $1.02 billion a year earlier, and Platform revenue (Advertising plus Subscriptions) was $1.13 billion versus $880.8 million. Advertising revenue rose to $612.7 million from $482.8 million, driven mainly by a 59% increase in video impressions partly offset by a 14% lower average price per impression. Subscriptions revenue rose to $518.5 million from $398.0 million, reflecting a 12% increase in subscriptions and a 22% increase in average price per subscription, including contributions from Frndly TV and Howdy. Devices revenue fell 16% to $117.6 million, with the average selling price down 3% and volume down 15%. Profitability improved. Income from operations was $51.8 million versus an operating loss of $57.7 million a year earlier, and net income was $85.7 million, or $0.57 per diluted share, compared with a net loss of $27.4 million. Adjusted EBITDA was $148.4 million versus $56.0 million, and trailing-twelve-month Free Cash Flow was $538.8 million versus $298.4 million. Operating cash flow for the quarter was $199.1 million. The company repurchased about 1.0 million shares for $100.0 million, leaving $150.0 million available under its $400 million program through December 31, 2026. Cash and cash equivalents were $1.65 billion and short-term investments were $730.3 million at March 31, 2026, and the company had no borrowings under its $300.0 million revolving Credit Agreement. The filing also notes that the company changed its reportable segments to Advertising, Subscriptions, and Devices effective the first quarter of 2026. It reports a full valuation allowance against U.S. net deferred tax assets and says a release may occur within the next twelve months. Customer J accounted for 11% of total net revenue, and Amazon, Best Buy, Target, and Walmart together accounted for 86% of Devices revenue.

May 1, 2026 8-K

Roku 8-K Report, Financial Results (Apr 30, 2026)

Roku, Inc. reported first-quarter 2026 results for the period ended March 31, 2026, in a Shareholder Letter furnished under Item 2.02 of this Form 8-K. Total net revenue was $1.25 billion, up 22% year over year, and Platform revenue was $1.13 billion, up 28%. Advertising revenue reached $613 million (up 27%) and Subscriptions revenue reached $519 million (up 30%, or 23% excluding Frndly). Net income was $86 million, compared with a net loss of $27 million in the prior-year quarter, and Adjusted EBITDA was $148 million, up 165%. Free Cash Flow (TTM) reached $539 million, up 81%. Devices revenue declined 16% to $118 million, with gross margin of (16.3)%, reflecting lower player unit sales and promotional pricing. Management flagged rising memory chip costs that it expects to weigh on Devices margins in the second half of 2026, and said new OEM licensing partnerships are expected to contribute to Roku TV model unit volume in that period. Management raised its full-year 2026 outlook, now expecting Platform revenue growth of nearly 21% to $5.0 billion, total net revenue of $5.5 billion, total gross profit of $2.45 billion, net income of $360 million, and Adjusted EBITDA of $675 million. For the second quarter, it guided to total net revenue of $1.3 billion, Adjusted EBITDA of $170 million, and Platform revenue growth of approximately 20%. The company also repurchased $100 million of stock in the first quarter, bringing total repurchases to $250 million since the third quarter of 2025 under a $400 million program, and reiterated its goal of $1 billion of Free Cash Flow by 2028, if not sooner.

Apr 30, 2026 8-K

Roku 8-K Report, Regulation FD Disclosure (Apr 13, 2026)

Roku, Inc. will split its current "Platform" reportable segment into two segments, "Advertising" and "Subscriptions," beginning with its financial results for the quarter ended March 31, 2026, which the company will report on April 30, 2026. The company states the change has no impact on its consolidated results. Advertising includes direct and programmatic video advertising, ads integrated into the user interface, and related services. Subscriptions includes end-user subscriptions, subscription revenue shares from content partners, Premium Subscriptions, owned and operated subscription services, and branded app buttons on remote controls. To help investors compare historical results with future reporting under the new structure, Roku furnished supplemental financial information in Exhibit 99.1 for the years ended December 31, 2024 and 2025 and quarterly information for 2025. That exhibit shows FY2025 total net revenue of $4,737.3 million, up from $4,112.9 million in FY2024, with Advertising revenue of $2,327.8 million (versus $2,065.3 million) and Subscriptions revenue of $1,817.1 million (versus $1,457.5 million). Net income was $88.4 million in FY2025 compared with a net loss of $129.4 million in FY2024, and the loss from operations narrowed to $5.6 million from $218.2 million. Profitability metrics improved over the period. Adjusted EBITDA was $420.5 million in FY2025 (8.9% margin) versus $260.2 million (6.3% margin) in FY2024, and trailing-twelve-month free cash flow was $483.6 million at year-end 2025 versus $203.2 million a year earlier. Gross margins were mixed by segment: Advertising gross margin was 57.8% in FY2025 versus 57.9% in FY2024, while Subscriptions gross margin declined to 44.6% from 47.3%. Devices remained at a gross loss of $82.0 million in FY2025 compared with $80.3 million in FY2024.

Apr 13, 2026 10-K

Roku Annual Report, Year Ended Dec 31, 2025

Roku, Inc. reported a return to net income in 2025, with net income of $88.4 million compared with a net loss of $129.4 million in 2024. Total net revenue rose 15% to $4.74 billion, driven by Platform revenue, which grew 18% to $4.14 billion on higher streaming services distribution revenue (notably Premium Subscriptions and subscription revenue from third-party and owned-and-operated services) and improved video ad monetization. Devices revenue was roughly flat at $592.4 million, as higher Roku-made TV sales offset lower streaming player sales. Streaming Hours grew 15% to 145.6 billion, and Adjusted EBITDA increased to $420.5 million from $260.2 million. Free Cash Flow (TTM) was $483.6 million versus $203.2 million a year earlier. The company acquired Frndly TV in May 2025 for total purchase consideration of $169.8 million, and launched Howdy, an ad-free SVOD service, in August 2025. Cash and cash equivalents were $1.59 billion and short-term investments were $730.2 million at year-end, with no borrowings under its $300.0 million revolving Credit Agreement. The company repurchased $150.0 million of Class A stock in 2025, leaving $250.0 million available under a $400 million program. Devices gross profit remained negative at $(82.0) million, and the filing notes that Amazon, Best Buy, Walmart and Target together accounted for 81% of Devices revenue. Key risks highlighted include intense competition from larger technology and TV companies, reliance on a small number of content partners for nearly half of Streaming Hours, dependence on third-party contract manufacturers and sole-source components, tariff and trade-policy uncertainty, and the dual-class structure that gives founder and CEO Anthony Wood majority voting control despite owning 11.6% of outstanding Class A and Class B shares. The accumulated deficit stood at $1.49 billion, and the company expects the valuation allowance on its U.S. deferred tax assets may be reversed within the next twelve to eighteen months.

Feb 13, 2026 8-K

Roku 8-K Report, Financial Results (Feb 12, 2026)

Roku, Inc. reported results for the quarter and year ended December 31, 2025 via a Shareholder Letter furnished as Exhibit 99.1 to this Form 8-K. For full year 2025, total net revenue was $4.737 billion, up 15% year over year, and Platform revenue was $4.145 billion, up 18%. Total gross profit was $2.074 billion, up 15%. Income from operations was $(5.6) million for the year, versus a loss of $(218.2) million in 2024, and the company reported net income of $88.4 million for 2025 compared with a net loss of $(129.4) million in 2024. Adjusted EBITDA for 2025 was $420.5 million, and Adjusted EBITDA margin expanded by 255 basis points. Free Cash Flow (TTM) reached $483.6 million in Q4 2025, a record per the letter. For Q4 2025, total net revenue was $1.395 billion and income from operations was $66.0 million, the first quarter shown with positive operating income in the letter's table. Devices revenue was $592 million for the full year, flat year over year, with Devices gross margin of (14)%. Roku repurchased $150 million of shares under a $400 million stock repurchase program, and the letter states the company sees a clear path to fully offset dilution in 2026. For 2026, management guides to Q1 total net revenue of $1.200 billion, total gross profit of $530 million, and Adjusted EBITDA of $130 million. For full year 2026, guidance calls for total net revenue of $5.500 billion, total gross profit of $2.435 billion, Platform revenue of $4.890 billion (18% growth), and Adjusted EBITDA of $635 million, with net income of $325 million. The company also states it expects to reach 100 million Streaming Households globally in 2026.

Feb 12, 2026 10-Q

Roku Quarterly Report for Q3 Ended Sep 30, 2025

Roku, Inc. reported a return to modest profitability in the third quarter of 2025, with net income of $24.8 million on total net revenue of $1.21 billion, compared with a net loss of $9.0 million in the prior-year quarter. Platform revenue was $1,064.6 million, up from $908.2 million, driven primarily by higher streaming services distribution revenue, including Premium Subscriptions and subscription revenue from third-party and owned-and-operated services, along with higher advertising revenue. Devices revenue declined to $146.0 million from $154.0 million, and the devices segment posted a gross loss of $22.9 million in the quarter. Income from operations was $9.5 million versus an operating loss of $35.8 million a year earlier, and Adjusted EBITDA rose to $116.9 million from $98.2 million. Trailing twelve-month free cash flow was $443.0 million, compared with $157.3 million a year earlier. The balance sheet remained liquid, with cash and cash equivalents of $1,575.5 million and short-term investments of $726.9 million as of September 30, 2025. The company acquired Frndly TV in May 2025 for a total purchase consideration of $169.8 million, including up to $75.0 million of contingent cash consideration tied to performance milestones over two years. The company began repurchasing Class A common stock in August 2025 under a $400 million authorization running through December 31, 2026, repurchasing $50.0 million in the quarter, with $350.0 million remaining. The $300.0 million revolving Credit Agreement remained undrawn, and the company stated it was in compliance with its covenants. The filing also highlights ongoing risks, including tariffs and trade policy changes, a devices segment that operates at negative gross margin, reliance on a small number of content partners for nearly half of Streaming Hours, and concentrated customer and retailer relationships. Mr. Anthony Wood controls a majority of the combined voting power despite owning 11.7% of the outstanding Class A and Class B common stock.

Oct 31, 2025 8-K

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

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 billion, 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 million, 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 million, 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 million 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.

Oct 30, 2025 10-Q

Roku Quarterly Report for Q2 Ended Jun 30, 2025

Roku, Inc. reported net revenue of $1,111,038 thousand ($1.11 billion) for the three months ended June 30, 2025, up from $968,179 thousand in the prior-year quarter. Platform revenue was $975,471 thousand, up $151.1 million, or 18%, driven mainly by higher advertising revenue despite continued weakness in the media and entertainment vertical, and by higher Premium Subscriptions revenue and subscription revenue from the Frndly acquisition, which contributed approximately 1.8 points of growth. Devices revenue declined $8.3 million, or 6%, as lower streaming player revenue offset higher average selling prices from Roku-branded TVs. The company recorded net income of $10,503 thousand for the quarter, compared with a net loss of $33,953 thousand a year earlier, and Adjusted EBITDA of $78,188 thousand versus $43,642 thousand. For the six months ended June 30, 2025, the company reported a net loss of $16,928 thousand, narrower than the $84,808 thousand loss in the prior-year period, on total net revenue of $2,131,710 thousand. Net cash provided by operating activities was $248,465 thousand, and trailing twelve-month Free Cash Flow was $391,987 thousand. Cash and cash equivalents totaled $2,253,276 thousand at June 30, 2025. The company acquired Frndly TV, Inc. on May 9, 2025 for a total purchase consideration of $169.8 million, including up to $75.0 million of contingent cash consideration payable over two years. Management stated that for full-year 2025 it expects devices revenue and gross margin to be slightly down, mostly due to tariffs. The filing also notes an accumulated deficit of $1,443.9 million, a $300.0 million revolving Credit Agreement under which nothing had been borrowed as of June 30, 2025, and a valuation allowance against U.S. deferred tax assets. Customer J accounted for 12% of total net revenue for the three and six months ended June 30, 2025.

Aug 1, 2025 8-K

Roku 8-K Report, Financial Results (Jul 31, 2025)

Roku, Inc. furnished a Form 8-K on July 31, 2025 reporting results for the quarter ended June 30, 2025, with its Shareholder Letter attached as Exhibit 99.1. Total net revenue was $1,111 million, up 15% year over year, and Platform revenue was $975 million, up 18% year over year, which the letter says exceeded the company's outlook. Platform growth was driven by video advertising and the acquisition of Frndly, which the letter says contributed approximately 1.8 points of growth. Devices revenue was $136 million, down 6% year over year. Net income was $10.5 million for the quarter, compared with a net loss of $33.95 million in the prior-year quarter, and Adjusted EBITDA was $78.2 million, versus $43.6 million a year earlier. The company raised its full-year 2025 outlook for Platform revenue to $4.075 billion and Adjusted EBITDA to $375 million, and guided to total net revenue of approximately $1.2 billion for Q3 2025, representing 13% growth year over year. The Board approved a stock repurchase program of up to $400 million of Class A common stock through December 31, 2026, which the company says is intended to offset dilution from employee equity compensation and which it expects to fund with existing cash and short-term investments of $2.3 billion as of June 30, 2025. The filing also reports that the Board approved, on July 28, 2025, the appointment of Dan Jedda, the Company's Chief Financial Officer, as Chief Financial Officer and Chief Operating Officer.

Jul 31, 2025 8-K

Roku 8-K/A Report, Shareholder Vote Results (Jun 26, 2025)

Roku, Inc. (ROKU) filed this Form 8-K/A on June 26, 2025 to amend its Original Form 8-K filed June 12, 2025, which reported the final voting results of its 2025 Annual Meeting of Stockholders held June 11, 2025. The sole purpose of the amendment is to disclose the Board-related decision on how often non-binding stockholder advisory votes on named executive officer compensation (Say-on-Pay Votes) will be held, as required by Item 5.07(d) of Form 8-K. No other changes were made to the Original Form 8-K. In the advisory vote on the frequency proposal (Say-on-Frequency) at the Annual Meeting, stockholders expressed a preference for Say-on-Pay Votes to be held every year. Consistent with the Board's recommendation in the proxy statement for the Annual Meeting, Roku has determined to hold future Say-on-Pay Votes annually until the next required advisory vote on frequency. The Board will re-evaluate this determination after the next Say-on-Frequency Proposal, which will be held no later than the 2031 annual meeting of stockholders. For investors, the filing is a governance update that confirms annual shareholder input on executive pay going forward and does not report any financial results.

Jun 26, 2025 8-K

Roku 8-K Report, Shareholder Vote Results (Jun 12, 2025)

Roku, Inc. held its annual meeting of stockholders by live webcast on June 11, 2025, and stockholders voted on four proposals described in the company's definitive proxy statement filed April 25, 2025. The filing reports that all four proposals were approved, with the Class II director nominees elected to serve until the 2028 annual meeting. The three Class II nominees received 98.1% (Jeffrey Blackburn), 97.1% (Gina Luna) and 86.3% (Ray Rothrock) of votes in favor, with Rothrock's support the lowest of the three. Stockholders also approved, on an advisory basis, the compensation of the named executive officers, with 197,969,921 votes for and 53,631,435 votes against, a stated 78.6% in favor. In a separate advisory vote, stockholders selected an annual frequency for future say-on-pay votes, with 250,316,218 votes for "one year" and 99.4% of votes in favor of that frequency. Stockholders also ratified the appointment of Deloitte & Touche LLP as independent registered accounting firm for the fiscal year ending December 31, 2025, with 271,526,520 votes for and a stated 99.1% in favor.

Jun 12, 2025 8-K

Roku 8-K Report, Executive Changes (May 7, 2025)

Roku, Inc. filed this Form 8-K under Item 5.02 to report that Louise Pentland, Senior Vice President and General Counsel, notified the Company on May 1, 2025 of her decision to resign effective May 16, 2025, to pursue another opportunity. The filing states that her decision was not due to any disagreement with the Company or the Board of Directors on any matter relating to the Company's operations, policies or practices. The Company stated that it will conduct an executive search to identify Ms. Pentland's successor. The filing does not disclose an interim arrangement, a successor, or any compensatory terms associated with the departure. For investors, the filing is a limited leadership-transition notice. It reports a planned departure of a senior legal officer with a stated non-disagreement and an open search, and it contains no financial results or other quantitative information.

May 7, 2025 10-Q

Roku Quarterly Report for Q1 Ended Mar 31, 2025

Roku, Inc. reported first-quarter 2025 results in this Form 10-Q for the quarter ended March 31, 2025. Total net revenue rose to $1,020.7 million from $881.5 million, an increase of 16%, driven by Platform revenue of $880.8 million (up 17%) on higher streaming services distribution revenue and advertising. Devices revenue was $139.9 million (up 11%), with a devices gross loss of $19.3 million. Net loss narrowed to $27.4 million, or $0.19 per share, from $50.9 million, or $0.35 per share, a year earlier, and loss from operations improved to $57.7 million from $72.0 million. Adjusted EBITDA, a non-GAAP measure, was $56.0 million versus $40.9 million. Cash flow and liquidity remained solid. Operating activities provided $138.7 million in the quarter, and cash and cash equivalents stood at $2,256.2 million at March 31, 2025. Trailing-twelve-month Free Cash Flow, a non-GAAP measure, was $298.4 million, down from $426.8 million. The company had not borrowed under its $300.0 million revolving Credit Agreement, which matures in September 2029. Streamed hours reached 35.8 billion, up 16%. The filing also discloses a subsequent event: an April 30, 2025 agreement to acquire Frndly TV, Inc. for a total purchase price of $185 million in cash, including $75 million held back and payable upon achievement of certain metrics over two years, with closing expected in the second quarter of 2025. Customer concentration remains notable, with Amazon, Best Buy, Target and Walmart accounting for 87% of devices revenue in the quarter.

May 2, 2025 8-K

Roku 8-K Report, Financial Results (May 1, 2025)

Roku, Inc. filed this Form 8-K on May 1, 2025 under Item 2.02 (Results of Operations and Financial Condition) to furnish its Q1 2025 Shareholder Letter as Exhibit 99.1. In the quarter ended March 31, 2025, total net revenue was $1,021 million, up 16% year over year, Platform revenue was $881 million, up 17%, and gross profit was $445 million, up 15%. Devices revenue was $140 million, up 11%, with a Devices gross loss of $(19) million. Net loss narrowed to $(27.4) million from $(50.9) million a year earlier, and Adjusted EBITDA was $56.0 million versus $40.9 million. Streaming Hours reached 35.8 billion, up 5.1 billion year over year, and The Roku Channel became the #2 app on the platform in the U.S. by engagement. Management reaffirmed full-year 2025 Platform revenue of $3.950 billion and Adjusted EBITDA of $350 million. For Q2 2025, the company estimates total net revenue of approximately $1.070 billion (11% YoY growth), with Platform revenue expected to grow 14% YoY and Adjusted EBITDA of approximately $70 million. The letter also notes the company expects full-year Platform gross margin of approximately 52% and Devices revenue and gross profit loss consistent with 2024 levels, while tariff impacts remain difficult to predict. Management said it continues to see a path to positive operating income in 2026. The filing also announces a separate agreement to acquire Frndly TV, a subscription streaming service offering over 50 live TV channels, intended to support growth in Platform revenue and Roku-billed subscriptions. Investors should note the letter cites elevated macro uncertainty, and the financial statements in the exhibit are unaudited.

May 1, 2025 8-K

Roku 8-K Report, Executive Changes (Mar 28, 2025)

Roku, Inc. filed a Form 8-K dated March 28, 2025 under Item 5.02 (Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers). The filing reports that Ravi Ahuja notified the Board of Directors on March 25, 2025 of his intention to resign as a director, effective June 11, 2025, the date of the Company's 2025 Annual Meeting of Stockholders. According to the filing, Mr. Ahuja's resignation is due to the time commitment required of his role as President and CEO of Sony Pictures Entertainment. The filing expressly states that the resignation is not the result of any disagreement with the Company or the Board on any matter relating to the Company's operations, policies or practices. As a result of the resignation, the filing states that on June 11, 2025 the size of the Board will be reduced from nine to eight directors. The filing contains no financial results or other operating information.

Mar 28, 2025 10-K

Roku Annual Report, Year Ended Dec 31, 2024

Roku, Inc. (Class A common stock listed on Nasdaq under ROKU) reported net revenue of $4,112,898 thousand ($4.11 billion) for the year ended December 31, 2024, up 18% from $3,484,619 thousand in 2023. Platform revenue rose to $3,522,776 thousand (up 18%), driven mainly by streaming services distribution, including Premium Subscriptions on The Roku Channel, while devices revenue rose to $590,122 thousand (up 20%), led by Roku-branded TVs. Net loss narrowed to $129,386 thousand from $709,561 thousand in 2023, and loss from operations improved to $218,167 thousand from $792,377 thousand, reflecting lower restructuring charges and operating expenses that fell 13% to $2,023,812 thousand. Gross profit rose 19% to $1,805,645 thousand, with the platform segment gross profit at $1,885,960 thousand and the devices segment still at a gross loss of $80,315 thousand. Key operating metrics grew: Streaming Households reached 89.8 million, up 12% from 80.0 million, Streaming Hours reached 127.1 billion, up 20% from 106.0 billion, and ARPU was $41.49, up 4%. Free Cash Flow (a non-GAAP measure) was $203.2 million on a trailing twelve-month basis, up from $175.9 million. Cash and cash equivalents were $2,160.2 million at year-end, and the company had not borrowed under its $300.0 million revolving Credit Agreement entered September 16, 2024, which matures September 16, 2029. The filing states that beginning with Q1 2025 the company will stop reporting quarterly Streaming Households and ARPU, and will shift key metrics to Streaming Hours, Platform Revenue, Adjusted EBITDA, and Free Cash Flow. Risk factors highlighted in the filing include competition from larger companies such as Amazon, Apple, and Google, reliance on a small number of content partners and retailers (Amazon, Best Buy, Target, and Walmart accounted for 81% of devices revenue in 2024), dependence on sole-source suppliers and contract manufacturers, and the dual-class structure in which Chairman and CEO Anthony Wood controls a majority of voting power while owning 12.0% of outstanding Class A and Class B shares.

Feb 14, 2025 8-K

Roku 8-K Report, Financial Results (Feb 13, 2025)

Roku, Inc. furnished a Form 8-K under Item 2.02 on February 13, 2025, reporting results for the quarter and year ended December 31, 2024. The full shareholder letter is attached as Exhibit 99.1. For full year 2024, total net revenue was $4.1 billion, up 18% YoY, Platform revenue was $3.5 billion, up 18% YoY (up 15% excluding political ad spend), and gross profit was $1.8 billion, up 19% YoY. Q4 2024 was the first quarter with more than $1 billion in Platform revenue, which grew 25% YoY. Full year 2024 loss from operations was $218.2 million, net loss was $129.4 million, and Adjusted EBITDA was $260.2 million, compared with $4.3 million in 2023. Cash flow from operations for 2024 was $218.0 million and free cash flow (TTM) was $203.2 million. For 2025, Roku guided to total net revenue of $4.610 billion, total gross profit of $2.005 billion, and Adjusted EBITDA of $350 million, with Platform revenue of $3.950 billion (growing 12% YoY) and Devices revenue of $660 million (growing 12% YoY). The company expects Platform gross margin of 52% to 53% and mid-single-digit YoY growth in operating expenses, and it expects to be operating income positive for full year 2026. Its Q1 2025 outlook calls for total net revenue of $1.005 billion, gross profit of $450 million, and Adjusted EBITDA of $55 million, and it expects Devices revenue to be largely flat YoY due to elevated inventory from lower holiday sales. The letter also discloses operating metrics: 89.8 million Streaming Households at year-end 2024, 127.1 billion Streaming Hours for the year, and ARPU of $41.49 on a trailing 12-month basis. Roku said it will stop reporting quarterly Streaming Households and ARPU beginning with Q1 2025 results. Devices gross margin was (14)% for full year 2024, reflecting Q4 seasonal discounts that drove Q4 Devices gross margin to (29)%.

Feb 13, 2025 8-K

Roku 8-K Report, Executive Changes (Jan 7, 2025)

Roku, Inc. (ROKU) filed this Form 8-K on January 7, 2025 under Item 5.02 (Departure of Directors or Certain Officers; Compensatory Arrangements of Certain Officers). The filing reports that on December 31, 2024, the Company and Gidon Katz, Senior Vice President, Platform Products & User Experience, agreed that Mr. Katz will leave the Company effective April 15, 2025. The filing states that Mr. Katz will receive severance benefits as contemplated by his Employment Contract with Roku DX UK Ltd, a wholly owned subsidiary of the Company. The contract is incorporated by reference as Exhibit 10.1 to the Company's Form 8-K filed on August 11, 2023. For investors, the filing is a notice of a senior executive departure rather than a financial disclosure. It contains no financial results, guidance, or new compensation figures beyond the reference to existing severance terms in the referenced contract.

Jan 7, 2025 10-Q

Roku Quarterly Report for Q3 Ended Sep 30, 2024

Roku, Inc. reported third-quarter 2024 results in this Form 10-Q for the period ended September 30, 2024. Total net revenue was $1,062.2 million for the three months, up from $912.0 million a year earlier, with platform revenue of $908.2 million (up from $786.8 million) and devices revenue of $154.0 million (up from $125.2 million). Loss from operations narrowed to $35.8 million from $349.8 million, and net loss was $9.0 million, compared with $330.1 million in the prior-year quarter. For the nine months, total net revenue was $2.91 billion and net loss was $93.8 million, versus $631.3 million a year earlier. Restructuring charges fell sharply, with $18.5 million recorded in the quarter compared with $283.0 million in the prior-year quarter. Key cash and balance sheet metrics were stable. Cash and cash equivalents stood at $2.13 billion as of September 30, 2024, and net cash provided by operating activities was $138.8 million for the nine months. Free Cash Flow on a trailing twelve-month basis was $157.3 million, up from $100.8 million. On September 16, 2024, the company entered into a five-year, $300.0 million revolving Credit Agreement maturing in 2029, under which it had not borrowed as of quarter end. The company also disclosed that it will stop reporting quarterly Streaming Households and ARPU starting with first-quarter 2025, shifting its key metrics to Streaming Hours, Platform Revenue, Adjusted EBITDA, and Free Cash Flow. Operating data in the filing show 85.5 million Streaming Households as of September 30, 2024 (up 13% from 75.8 million), 32.0 billion Streaming Hours in the quarter (up 20%), and ARPU of $41.10, roughly flat versus $41.03. Devices gross margin remained negative, while platform gross profit was $491.8 million in the quarter.

Oct 31, 2024 8-K

Roku 8-K Report, Financial Results (Oct 30, 2024)

Roku, Inc. furnished a Shareholder Letter with its results for the quarter ended September 30, 2024, under Item 2.02 of this 8-K dated October 30, 2024. The letter reports total net revenue of $1.062 billion, up 16% year over year, which the company describes as its first quarter above $1 billion. Platform revenue was $908 million, up 15% YoY, and gross profit was $480 million, up 30% YoY (up 10% excluding Q3 2023 restructuring charges). Net loss narrowed to $9.0 million from $330.1 million a year earlier, and Adjusted EBITDA was $98.2 million versus $43.4 million. The company also reported its fifth consecutive quarter of positive Adjusted EBITDA and Free Cash Flow (TTM). Streaming Households reached 85.5 million, a net increase of 2.0 million from Q2 2024, and Streaming Hours were 32.0 billion, up 20% YoY. ARPU was $41.10 on a trailing 12-month basis, flat YoY, which management attributes to a rising share of households in international markets where monetization is at an early stage. Beginning with Q1 2025 results, Roku will stop reporting Streaming Households and ARPU, and its key performance metrics will become Streaming Hours, Platform revenue, Adjusted EBITDA, and Free Cash Flow. For Q4 2024, the company estimates total net revenue of $1.140 billion, growing 16% YoY, with Platform revenue growing 14% and Devices revenue growing 25%. It estimates total gross profit of $465 million, Adjusted EBITDA of $30 million, and a net loss of $65 million. Management expects full-year 2024 Sales and Marketing and total operating expenses to be slightly down.

Oct 30, 2024 8-K

Roku 8-K Report, Executive Changes (Sep 26, 2024)

Roku, Inc. filed this Form 8-K on September 26, 2024 to disclose changes to its Executive Supplemental Stock Option Program, approved by the Compensation Committee of the Board of Directors on September 23, 2024. The amended program lets employees at or above the level of Senior Vice President, including certain executive officers but excluding the Chief Executive Officer ("Eligible Executives"), elect annually to reduce their base salary in exchange for a series of monthly grants of fully vested non-statutory stock options under the Amended and Restated 2017 Equity Incentive Plan. The amended program takes effect January 1, 2025, and remains in effect until modified or revoked by the Board or the Compensation Committee. Under the structure, the number of options granted each month equals the monthly dollar amount of salary reduction divided by the Fair Market Value (the Nasdaq closing price on the grant date) divided by a Stock Option Ratio set by the Board or Compensation Committee, rounded down to the nearest whole share. Enrollment must be completed during the last open trading window of the preceding calendar year, and elections cannot be changed after the enrollment deadline. Withdrawal is restricted to open trading windows, is limited to situations of unforeseeable emergency, and bars re-enrollment for that calendar year. Grants are made on the first trading day of each month, subject to a deferral when the date falls within a Filing Period around periodic reports or material 8-K filings. Options vest on the grant date, carry an exercise price equal to Fair Market Value, and are exercisable for up to ten years. The filing also lists the enrollment form and form of option agreement and grant notice as exhibits, with the option agreement form incorporated by reference from Roku's Form 10-K filed February 18, 2022. The filing does not state any financial results or dollar amounts for the program's cost or participation.

Sep 26, 2024 8-K

Roku 8-K Report, Material Agreement (Sep 17, 2024)

Roku, Inc. filed this Form 8-K to report that on September 16, 2024, it entered into a credit agreement with Citibank N.A. as administrative agent, with Purple Tag Enterprises, LLC, Purple Tag Originals, LLC, This Old House Productions, LLC and This Old House Ventures, LLC as guarantors, and the lenders and issuing banks party thereto. The agreement provides a five-year revolving credit facility of up to $300 million, with an uncommitted increase option of up to an additional $300 million subject to customary conditions. It includes a $100 million sub-facility for letters of credit, and the facility matures on September 16, 2029. Proceeds may be used for general corporate purposes, including working capital. The credit agreement contains a minimum interest coverage ratio and a maximum total net leverage ratio, along with customary events of default and affirmative and negative covenants covering indebtedness, liens, investments, asset dispositions, restricted payments, affiliate transactions and abandonment of intellectual property. Obligations under the facility, along with certain swap and banking services obligations, are secured by substantially all assets of Roku and its subsidiary guarantors, subject to customary excluded assets. The filing also notes that certain lenders and their affiliates have provided investment banking, commercial banking, advisory and other services to Roku and its affiliates for customary fees, and may do so in the future. The full agreement is filed as Exhibit 10.1, and the filing states that its description is qualified in its entirety by that exhibit.

Sep 17, 2024 10-Q

Roku Quarterly Report for Q2 Ended Jun 30, 2024

Roku, Inc. reported second-quarter 2024 results in this Form 10-Q, with total net revenue of $968.2 million for the three months ended June 30, 2024, up from $847.2 million a year earlier, and a net loss of $34.0 million, compared with $107.6 million in the prior-year quarter. Platform revenue rose to $824.3 million, driven by higher streaming services distribution revenue, including Premium Subscriptions through The Roku Channel, while devices revenue grew to $143.8 million, led by Roku-branded TVs. Devices gross profit remained negative at $(15.2) million, while platform gross profit was $439.9 million. Operating loss narrowed to $71.2 million from $126.0 million, with lower research and development and sales and marketing expenses partly offset by higher general and administrative costs. Key operating metrics improved: Streaming Households reached 83.6 million as of June 30, 2024, up from 73.5 million, and Streaming Hours were 30.1 billion for the quarter, up from 25.1 billion. ARPU was essentially flat at $40.68 versus $40.67, which the company attributed to a rising share of Streaming Households in international markets. Trailing twelve-month Free Cash Flow was $317.9 million, compared with negative $169.3 million a year earlier, and cash and cash equivalents stood at $2,058.5 million. The company also recorded restructuring charges of $10.7 million in the quarter, primarily related to impairments of office lease right-of-use assets. The filing also highlights ongoing risks, including a $981.0 million estimated contracted revenue backlog, customer concentration in devices (Amazon, Best Buy and Walmart accounted for 76% of devices revenue in the quarter), and a pending Walmart acquisition of Vizio that the company says could increase competition. The company reported an accumulated deficit of $1,382.4 million and a discrete tax benefit of $11.1 million from releasing a valuation allowance on certain foreign deferred tax assets.

Aug 2, 2024 8-K

Roku 8-K Report, Financial Results (Aug 1, 2024)

Roku, Inc. furnished a Form 8-K on August 1, 2024 announcing results for the quarter ended June 30, 2024, with the Q2 2024 Shareholder Letter attached as Exhibit 99.1 (furnished, not filed). Total net revenue was $968 million, up 14% year over year, and Platform revenue was $824 million, up 11%. Devices revenue was $143.8 million. Gross profit was $425 million, up 12% year over year, and the company reported a net loss of $33.95 million for the quarter, compared with a net loss of $107.6 million a year earlier. Streaming Households reached 83.6 million, a net addition of 2.0 million from Q1 2024, and Streaming Hours were 30.1 billion, up 20% year over year. The company reported its fourth consecutive quarter of positive Adjusted EBITDA and trailing-twelve-month Free Cash Flow, with Q2 Adjusted EBITDA of $43.6 million. Management guided to third-quarter 2024 total net revenue of $1.010 billion, growing 11% year over year, with Platform revenue growing 9% and Devices revenue growing 24%. The company expects Q3 total gross profit of $440 million, Adjusted EBITDA of $45 million, and a net loss of $50 million. For Q4, management anticipates that the year-over-year growth rate of Platform revenue will accelerate sequentially, and it expressed confidence in accelerating Platform revenue growth in 2025 and beyond. The letter highlights growth initiatives including the Roku Home Screen, sports programming through the Roku Sports Experience, The Roku Channel, the marquee video ad unit, third-party demand-side platform integrations, and Roku-billed subscriptions through Roku Pay. Average Revenue Per User was $40.68 on a trailing-twelve-month basis, flat year over year, reflecting a growing share of Streaming Households in international markets where monetization is at an early stage.

Aug 1, 2024 8-K

Roku 8-K Report, Executive Changes (Jun 7, 2024)

Roku, Inc. reported in a Form 8-K dated June 7, 2024 the results of its annual meeting of stockholders, held via live webcast on June 6, 2024. Stockholders approved four proposals, the most significant being the Roku, Inc. Amended and Restated 2017 Equity Incentive Plan (the "Restated 2017 Plan"). The Restated 2017 Plan extends the end date of the "evergreen" provision, which provides for future automatic annual increases in the number of shares available for grant, from January 1, 2027 to January 1, 2034. The Board approved the plan on March 27, 2024, subject to stockholder approval. All three director nominees in Class I were elected to serve until the 2027 annual meeting. Ravi Ahuja received 87.6% of votes in favor, while Mai Fyfield and Laurie Simon Hodrick each received 98.8%. The plan approval received 76.1% of votes in favor, which was the lowest support level among the proposals. Stockholders also approved, on an advisory basis, executive compensation with 86.1% in favor, and ratified Deloitte & Touche LLP as the independent registered accounting firm for the fiscal year ending December 31, 2024 with 99.4% in favor. The filing references the 2024 Proxy Statement, filed April 26, 2024, for fuller descriptions of each proposal. The Restated 2017 Plan is filed as Exhibit 10.1 to the 8-K.

Jun 7, 2024 10-Q

Roku Quarterly Report for Q1 Ended Mar 31, 2024

Roku, Inc. reported its Form 10-Q for the quarter ended March 31, 2024. Total net revenue was $881.5 million, up 19% from $741.0 million in the prior-year quarter, with platform revenue of $754.9 million (up 19%) and devices revenue of $126.5 million (up 19%). Loss from operations narrowed to $72.0 million from $212.5 million, reflecting lower operating expenses of $460.3 million (down 16%) following restructuring efforts in 2023. Net loss was $50.9 million, or $0.35 per share, compared with a net loss of $193.6 million, or $1.38 per share, a year earlier. Key operating metrics showed Streaming Households of 81.6 million as of March 31, 2024, up 14% from 71.6 million, and Streaming Hours of 30.8 billion for the quarter, up 23% from 25.1 billion. ARPU was flat at $40.65 versus $40.67. Devices gross profit was negative at $(6.1) million, while platform gross profit was $394.4 million. Cash and cash equivalents totaled $2,055.7 million, and trailing twelve-month Free Cash Flow was $426.8 million, compared with negative $448.1 million a year earlier. The company stated that its existing cash balance is sufficient to meet working capital, capital expenditure, and known contractual obligations for the next twelve months and beyond. Remaining performance obligations were $1,030.9 million, with approximately 48% expected to be recognized over the next 12 months. Anthony Wood, the CEO, adopted a Rule 10b5-1 trading arrangement for up to 300,000 Class A shares, expiring December 9, 2024.

Apr 26, 2024 8-K

Roku 8-K Report, Financial Results (Apr 25, 2024)

Roku, Inc. furnished a Form 8-K on April 25, 2024 under Item 2.02 (Results of Operations and Financial Condition) attaching its Q1 2024 Shareholder Letter as Exhibit 99.1. The letter reports total net revenue of $881.5 million, up 19% year over year, with Platform revenue of $754.9 million, also up 19%. Total gross profit was $388.3 million, up 15%. Streaming Households reached 81.6 million, a net increase of 1.6 million from Q4 2023, and Streaming Hours grew 23% year over year to 30.8 billion. Net loss narrowed to $50.9 million from $193.6 million a year earlier, while Adjusted EBITDA was $40.9 million, marking the third consecutive quarter of positive Adjusted EBITDA and Free Cash Flow. Management flagged difficult year-over-year comparisons in streaming services distribution activities, attributing the headwind to past price increases and a higher mix shift toward ad-supported offerings. For Q2 2024, the company estimates total net revenue of $935 million, total gross profit of $410 million, and Adjusted EBITDA of $30 million, and expects Adjusted EBITDA to slightly moderate in the second half of 2024 due to normal seasonal Devices sales and marketing spend. Management also said it remains confident in accelerating Platform revenue growth and growing Adjusted EBITDA and Free Cash Flow in 2025 and beyond. Average Revenue Per User (ARPU) was $40.65 on a trailing 12-month basis, flat year over year, reflecting a growing share of Streaming Households in international markets where the company is focused on scale and engagement. Cash and cash equivalents were $2.06 billion at March 31, 2024, and trailing 12-month Free Cash Flow was $426.8 million.

Apr 25, 2024 10-K

Roku Annual Report, Year Ended Dec 31, 2023

Roku, Inc. (Class A common stock listed on Nasdaq as ROKU) reported net revenue of $3,484,619 thousand ($3.48 billion) for 2023, up 11% from $3,126,534 thousand in 2022. Platform revenue rose 10% to $2,994,105 thousand, driven mainly by streaming services distribution such as Premium Subscriptions on The Roku Channel, partially offset by weaker advertising, especially media and entertainment promotional spending. Devices revenue rose 18% to $490,514 thousand, helped by Roku-branded TVs launched in March 2023. Active Accounts reached 80.0 million, up 14%, and Streaming Hours reached 106.0 billion, up 21%. Profitability weakened sharply. Gross profit increased 6% to $1,522,615 thousand, but total operating expenses rose 17% to $2,314,992 thousand, including a $356.1 million restructuring charge. The company reported a loss from operations of $792,377 thousand and a net loss of $709,561 thousand, or $(5.01) per share, compared with a net loss of $498,005 thousand in 2022. ARPU declined 4% to $39.92, which management attributed to a growing share of Active Accounts in international markets where the company is prioritizing scale and engagement over monetization. The balance sheet remained liquid, with cash and cash equivalents of $2,025,891 thousand and no outstanding debt at December 31, 2023, after the Credit Facility was repaid in February 2023. Operating cash flow was positive at $255,856 thousand, though this was well above the net loss because of large non-cash charges of $972.7 million, including stock-based compensation and impairments. Management stated that its existing cash is sufficient for the next twelve months and beyond.

Feb 16, 2024 8-K

Roku 8-K Report, Financial Results (Feb 15, 2024)

Roku, Inc. filed this Form 8-K under Item 2.02 (Results of Operations and Financial Condition) to announce results for the quarter and year ended December 31, 2023, furnishing its Q4 and Full Year 2023 Shareholder Letter as Exhibit 99.1. For full year 2023, total net revenue was $3.48 billion (up 11% YoY), Platform revenue was $2.99 billion (up 10% YoY), and gross profit was $1.52 billion. Active Accounts reached 80.0 million, with 10.0 million net adds in 2023, and Streaming Hours totaled 106.0 billion, the first year above 100 billion. Net loss narrowed to $709.6 million for 2023 from $498.0 million in 2022 is a widening; the filing reports net loss of $709.6 million versus $498.0 million, which included $356.1 million of restructuring charges. Management reported positive Adjusted EBITDA of $4.3 million and positive free cash flow for full year 2023, a year ahead of schedule. For Q4 2023, total net revenue was $984.4 million (up 14% YoY) and Platform revenue was $828.9 million (up 13% YoY). Average Revenue Per User (trailing 12-month basis) was $39.92, down 4% YoY, which management attributed to a growing share of Active Accounts in international markets where Roku is focused on scale and engagement. Operating loss improved to $104.2 million in Q4 from $249.9 million a year earlier. Looking ahead, management guided to Q1 2024 total net revenue of $850 million, total gross profit of roughly $370 million, and break-even Adjusted EBITDA, and expects positive Adjusted EBITDA for full year 2024. The company also noted a difficult macro environment, an uneven ad market recovery, and tougher year-over-year comparisons in streaming services distribution.

Feb 15, 2024 10-Q

Roku Quarterly Report for Q3 Ended Sep 30, 2023

Roku, Inc. reported a net loss of $330.1 million for the third quarter ended September 30, 2023, compared with a net loss of $122.2 million in the prior-year quarter. Total net revenue rose to $912.0 million from $761.4 million, an increase of 20%, driven by platform revenue of $786.8 million (up 18%) and devices revenue of $125.2 million (up 33%). Loss from operations widened to $349.8 million, reflecting a company-wide restructuring charge of $283.0 million recorded in the quarter, which included $230.8 million of asset impairments tied to leased office facilities, content removed from The Roku Channel, and related assets. Excluding the restructuring charges, operating expenses still grew year over year, with sales and marketing up 47% and research and development up 36% for the quarter. For the nine months ended September 30, 2023, net loss was $631.3 million versus $260.8 million a year earlier, while total net revenue was $2.50 billion, up 11%. Operating cash flow was $239.5 million compared with $4.4 million in the prior-year period, and cash and cash equivalents stood at $2.00 billion at quarter-end. The company repaid its $80.0 million Term Loan A in February 2023 and has no outstanding debt. Management stated that existing cash is expected to be sufficient for the next twelve months and beyond. Key operating metrics showed active accounts of 75.8 million, up 16%, and streaming hours of 26.7 billion in the quarter, up 22%. However, ARPU declined 7% to $41.03, which management attributed to active account growth outpacing platform revenue growth. Management also cited advertising budget pressure from inflation, rising interest rates, and recessionary fears, and disclosed that the company will continue to pursue operating expense growth reduction measures through workforce reduction and office consolidation.

Nov 2, 2023 8-K

Roku 8-K Report, Financial Results (Nov 1, 2023)

Roku, Inc. reported financial results for the quarter ended September 30, 2023, with the results detailed in a Shareholder Letter furnished as Exhibit 99.1. Total net revenue was $912 million, up 20% year over year, with Platform revenue of $787 million up 18% and Devices revenue of $125.2 million. Gross profit was $369 million, up 3% year over year, but the filing notes it was up 22% excluding restructuring charges. The company recorded a net loss of $330.1 million for the quarter, driven by $283.0 million of restructuring charges, including $230.8 million of asset impairment charges. Adjusted EBITDA was $43 million, a positive result the company attributes to revenue growth and cost reductions. Operating metrics showed growth in engagement and scale. Active Accounts reached 75.8 million, a net increase of 2.3 million from Q2 2023, and Streaming Hours were 26.7 billion, up 4.9 billion YoY. Average Revenue Per User (trailing 12 months) was $41.03, down 7% YoY but up 1% quarter over quarter. Platform Gross Margin was 48%, reflecting a $62 million restructuring charge tied to removing select licensed and produced content from The Roku Channel; excluding that charge it would have been 56%. Management's outlook calls for Q4 2023 total net revenue of roughly $955 million, total gross profit of roughly $405 million, and Adjusted EBITDA of $10 million. The company reiterated its commitment to positive Adjusted EBITDA for full year 2024, while cautioning about an uncertain macro environment, an uneven ad market recovery, and difficult year-over-year comparisons in content distribution and M&E revenue in Q4.

Nov 1, 2023 8-K

Roku 8-K Report, Exit or Disposal Costs (Sep 6, 2023)

Roku, Inc. filed this Current Report on Form 8-K on September 6, 2023 to disclose cost-reduction measures and related charges. On September 5, 2023, the company decided to bring down its year-over-year operating expense growth rate through office space consolidation, a strategic review of its content portfolio, reduced outside services expenses, and a workforce reduction affecting approximately 10% of employees, along with limiting new hires. Roku expects a restructuring charge, primarily severance and benefits, in a preliminary range of $45 million to $65 million, with most of it recorded in the third quarter of fiscal 2023 and the workforce reduction substantially complete by the end of the fourth quarter of fiscal 2023. Separately, it expects impairment charges of $160 million to $200 million related to ceasing use of certain office facilities and $55 million to $65 million related to removing select licensed and produced content from its TV streaming platform. The company does not expect material cash expenditures for the content impairment. The charges may differ materially from these estimates. For the third quarter of fiscal 2023, excluding these restructuring and impairment charges, Roku now expects total net revenue of $835 million to $875 million and adjusted EBITDA of negative $40 million to negative $20 million. The company states it cannot reconcile net loss to adjusted EBITDA without unreasonable effort.

Sep 6, 2023 8-K

Roku 8-K Report, Executive Changes (Aug 11, 2023)

Roku, Inc. filed this Form 8-K on August 11, 2023 under Item 5.02, disclosing a new employment contract for Gidon Katz, the Company's President, Consumer Experience. The contract was entered into on August 9, 2023 by Roku DX UK Ltd, a wholly owned subsidiary of Roku, Inc., and is effective August 1, 2023. The agreement was prompted by Mr. Katz's relocation from the United States to the United Kingdom. Under the contract, Mr. Katz will continue to receive an annual base salary of $2.8 million, retain equity awards previously granted under the Company's 2017 Equity Incentive Plan, each of which continues to vest according to its terms, and be eligible for employee benefits offered from time to time to Roku DX UK Ltd employees. He has also entered into the Company's standard form of indemnification agreement, previously filed as an exhibit to a Form S-1 amendment in September 2017. The filing is a limited disclosure. It does not describe other terms of the arrangement, and it refers readers to the full employment contract, filed as Exhibit 10.1, for complete terms. For investors, the filing confirms that Mr. Katz's base salary and equity awards are unchanged by the relocation.

Aug 11, 2023 10-Q

Roku Quarterly Report for Q2 Ended Jun 30, 2023

Roku, Inc. reported net revenue of $847.2 million for the three months ended June 30, 2023, up from $764.4 million a year earlier, with platform revenue of $743.8 million (up from $669.3 million) and devices revenue of $103.4 million (up from $95.2 million). Gross profit for the quarter was $378.3 million, compared with $355.1 million in the prior-year quarter. Net loss narrowed to $107.6 million from $112.3 million, or $0.76 per share versus $0.82 per share. For the six months ended June 30, 2023, net loss was $301.2 million, up from $138.6 million, and loss from operations was $338.4 million, compared with $134.0 million a year earlier. Operating expenses rose 23% for the six months, led by sales and marketing (up 39%) and research and development (up 14%), and the filing notes restructuring charges of $31.3 million for the six months. Key operating metrics improved: active accounts reached 73.5 million as of June 30, 2023 (up 16% from 63.1 million), and streaming hours grew 21% to 25.1 billion in the quarter. ARPU declined 7% to $40.67, which the company attributed to active account growth outpacing platform revenue growth. Platform revenue growth in the six-month period was driven by content distribution services, while advertising revenue was pressured by macroeconomic factors. Cash and cash equivalents were $1,755.3 million at June 30, 2023, down from $1,962.0 million at December 31, 2022, and the company repaid its $80.0 million Term Loan A in February 2023, leaving no outstanding debt. Management believes existing cash will be sufficient for the next twelve months and beyond. The filing highlights ongoing risks, including intense competition in TV streaming, dependence on advertising spend amid macroeconomic pressures, reliance on a small number of content publishers for a majority of streaming hours, concentration of devices revenue with Amazon and Walmart (62% of devices revenue for the quarter), and a dual-class stock structure that gives Chief Executive Officer Anthony Wood majority voting control while he owns 12.3% of outstanding shares.

Jul 28, 2023 8-K

Roku 8-K Report, Financial Results (Jul 27, 2023)

Roku, Inc. filed this Form 8-K on July 27, 2023 to furnish its Q2 2023 Shareholder Letter (Exhibit 99.1) announcing results for the quarter ended June 30, 2023. Total net revenue was $847 million, up 11% year over year, with Platform revenue of $744 million, also up 11%. Gross profit was $378 million, up 7%, and Adjusted EBITDA was negative $17.8 million, an improvement of 47% year over year. Net loss for the quarter was $107.6 million, or $0.76 per share. Management said the operating environment was largely unchanged from Q1, with strong consumer demand for Roku TV models offset by muted TV advertising industry-wide, and that some ad verticals are improving. Key operating metrics showed 73.5 million Active Accounts, a net increase of 1.9 million from Q1 2023, and 25.1 billion Streaming Hours, up 21% year over year. ARPU was $40.67 on a trailing 12-month basis, down 7% year over year, which management attributed to Active Account growth outpacing Platform revenue growth. Management guided Q3 2023 total net revenue to roughly $815 million, total gross profit to roughly $355 million, and Adjusted EBITDA to negative $50 million, and reaffirmed its commitment to positive Adjusted EBITDA for full year 2024. The letter also flagged continued pressure in traditional TV advertising and M&E spend, with management expecting M&E spend to be further pressured by limited fall release schedules. Restructuring charges of $31.3 million were recorded for the six months ended June 30, 2023, including $25.4 million of severance and related charges. Cash and cash equivalents were $1.76 billion at June 30, 2023.

Jul 27, 2023 8-K

Roku 8-K Report, Shareholder Vote Results (Jun 9, 2023)

Roku, Inc. filed this Current Report under Item 5.07 to report the results of its annual meeting of stockholders, held June 8, 2023 via live webcast. Stockholders voted on four proposals, each described in the definitive proxy statement filed April 27, 2023. The filing reports certified vote counts for each matter and does not describe any other corporate action. All three nominees for director were elected. Jeffrey Blackburn, the Class II nominee, received 242,125,595 votes for and 427,676 withheld, with 99.8% of votes in favor. Class III nominees Jeffrey Hastings, Neil Hunt, and Anthony Wood received 89.2%, 90.1%, and 91.3% of votes in favor, respectively. Stockholders also ratified Deloitte & Touche LLP as the independent registered accounting firm for the fiscal year ending December 31, 2023, with 265,565,239 votes for and 528,289 against, representing 99.7% in favor. The advisory vote on executive compensation was the least supported item. It received 191,733,902 votes for and 50,638,684 against, with 180,685 abstentions and 23,783,532 broker non-votes, representing 79.0% of votes in favor. The filing does not state the board's response to this result.

Jun 9, 2023 10-Q

Roku Quarterly Report for Q1 Ended Mar 31, 2023

Roku, Inc. reported a net loss of $193.6 million, or $1.38 per share, for the quarter ended March 31, 2023, compared with a net loss of $26.3 million, or $0.19 per share, a year earlier. Total net revenue was $741.0 million, up slightly from $733.7 million, with platform revenue of $634.6 million declining from $643.7 million and devices revenue rising to $106.4 million from $90.0 million. Gross profit fell to $337.6 million from $364.8 million, while operating expenses rose to $550.1 million from $388.3 million, driven by higher research and development, sales and marketing, and G&A costs, including $31.3 million of restructuring charges. The company cited advertising spend pressure from macroeconomic conditions as the cause of the platform revenue decline. Active accounts reached 71.6 million, up from 61.3 million, and streaming hours rose to 25.1 billion from 20.9 billion. ARPU declined to $40.67 from $42.60. Other income increased to $23.1 million, mainly from higher interest income on cash balances. Cash and cash equivalents were $1.63 billion at March 31, 2023, down from $1.96 billion at December 31, 2022, after operating cash outflows of $153.4 million, capital expenditures of $54.2 million, and the full $80.0 million repayment of the Credit Facility in February 2023. The company stated that its existing cash balance is sufficient to meet its requirements for the next twelve months and beyond. The filing also discloses that approximately $487.0 million of Roku's cash was held at Silicon Valley Bank when it was closed on March 10, 2023, and that the company now has full control of its cash and cash equivalents balance. Management stated that the company expects operating expense year-over-year growth to decline significantly over the course of 2023.

Apr 27, 2023 8-K

Roku 8-K Report, Financial Results (Apr 26, 2023)

Roku, Inc. filed this Form 8-K on April 26, 2023 to furnish its Q1 2023 Shareholder Letter (Exhibit 99.1), reporting results for the quarter ended March 31, 2023. Total net revenue was $741 million, up 1% year over year, while Platform revenue was $635 million, down 1% year over year. Gross profit was $338 million, down 7% year over year, and Adjusted EBITDA was negative $69.1 million, compared with $57.6 million a year earlier. Net loss was $193.6 million, or $1.38 per share, versus a net loss of $26.3 million in Q1 2022. Active Accounts reached 71.6 million, a net increase of 1.6 million from Q4 2022, and Streaming Hours grew 20% year over year to 25.1 billion. ARPU was $40.67 on a trailing 12-month basis, down 5% year over year. Management cited a challenging macro environment, with the total U.S. advertising market down 7.4% year over year in Q1. For Q2 2023, Roku guided to total net revenue of roughly $770 million, total gross profit of roughly $335 million, and Adjusted EBITDA of negative $75 million. The company reiterated its commitment to positive Adjusted EBITDA for full year 2024 while slowing year-over-year operating expense growth. Operating expenses rose to $550.1 million, up 42% year over year, driven by higher research and development and sales and marketing costs, and the letter also disclosed $31.3 million of restructuring charges. The filing also announced that Dan Jedda will join Roku as Chief Financial Officer on May 1, 2023, succeeding Steve Louden, who will serve as an executive advisor until August 2023. Cash and cash equivalents declined to $1.63 billion as of March 31, 2023, from $1.96 billion at December 31, 2022, and operating cash flow was negative $153.4 million for the quarter.

Apr 26, 2023 8-K

Roku 8-K Report, Exit or Disposal Costs (Mar 30, 2023)

Roku, Inc. filed this Form 8-K on March 30, 2023 to report a restructuring plan approved by the Company on March 29, 2023. The plan is intended to lower the Company's year-over-year operating expense growth and prioritize projects the Company believes will have a higher return on investment. It is expected to affect approximately 200 employees, described as approximately 6% of the Company's workforce, and to result in the exit and sublease, or cease use, of certain office facilities the Company does not currently occupy. The Company estimates non-recurring charges of approximately $30 to $35 million, primarily severance payments, notice pay, employee benefits contributions and related costs, plus impairment charges tied to the office facilities. Management expects most of the charges in the first quarter of fiscal 2023, with headcount reductions and related cash payments substantially complete by the end of the second quarter of fiscal 2023. Timing may extend in some cases because position eliminations are subject to legal requirements that vary by jurisdiction, and actual expenses may differ materially from the estimates. For investors, the filing is primarily a cost-management disclosure under Item 2.05. It quantifies the expected one-time charges and the scope of the workforce and facility actions, while the forward-looking statements caution that the number of affected positions, the timing and size of charges, and the effect on operating expense growth may change.

Mar 30, 2023 8-K

Roku 8-K Report, Corporate Update (Mar 10, 2023)

Roku, Inc. (ROKU) filed this Current Report on Form 8-K under Item 8.01 (Other Events) to disclose its exposure to Silicon Valley Bank (SVB), which was closed on March 10, 2023 by the California Department of Financial Protection and Innovation, with the Federal Deposit Insurance Corporation (FDIC) appointed as receiver. According to the FDIC, all insured depositors of SVB will have full access to their insured deposits no later than Monday morning, March 13, 2023. The FDIC will pay uninsured depositors an advance dividend within the next week, and uninsured depositors will receive a receivership certificate for the remaining amount of their uninsured funds. Roku reported total cash and cash equivalents of approximately $1.9 billion as of March 10, 2023. Approximately $487 million of that is held at SVB, representing approximately 26% of the cash and cash equivalents balance, and the filing states these deposits are largely uninsured. The remaining approximately $1.4 billion is distributed across multiple large financial institutions. Roku states that it does not yet know the extent to which it will be able to recover its cash on deposit at SVB. Despite the SVB closure, Roku continues to believe that its existing cash and cash equivalents balance and cash flow from operations will be sufficient to meet its working capital, capital expenditures, and material cash requirements from known contractual obligations for the next twelve months and beyond.

Mar 10, 2023