NASDAQ$ROKU
Roku Inc · Q1 2021 earnings
Q1 2021 earnings · · Investor relations
Briefing
Roku delivered strong growth in advertising and content distribution partnerships, achieving record revenue, gross profit growth, and Adjusted EBITDA.
Roku's Q1 2021 showed exceptional performance with a 79% year-over-year increase in total net revenue, reaching $574.2 million. The company added 2.4 million incremental active accounts, bringing the total to 53.6 million, and streaming hours increased to 18.3 billion. Platform revenue grew by 101% year-over-year, driven by advertising and content distribution.
- Total net revenue grew 79% year-over-year to $574.2 million.
- Platform revenue increased 101% year-over-year to $466.5 million.
- Gross profit was up 132% year-over-year to $326.8 million.
- Roku added 2.4 million incremental Active Accounts in Q1 2021 to reach 53.6 million.
Headline financials
Revenue & EPS history
Roku · Revenue · Quarterly
$574M
Revenue by segment
Roku · $574M total across 2 segments · Q1 2021
- Platform$467M+100.6%81.2%
- Devices$108M+22.1%18.8%
Forward guidance
Roku anticipates robust growth for Q2 2021, with total net revenue expected to be $615 million at the midpoint, representing a 73% year-over-year increase. Total gross profit is projected to be $300 million at the midpoint, up 104% year-over-year. Adjusted EBITDA is expected to be $65 million at the midpoint.
Tailwinds
- Total net revenue of $615 million at the midpoint (up 73% year-over-year)
- Total gross profit of $300 million at the midpoint (up 104% year-over-year)
- Strong gross profit growth is expected to outpace operating expense (OPEX) growth
- Q2 Adjusted EBITDA of $65 million at the midpoint
- Expect net adds of both active accounts and streaming hours to be above pre-COVID-19 levels.
Headwinds
- Supply chain constraints to persist for the rest of the year
- Costs in components and logistics to correspondingly increase as the year progresses
- Slightly negative Player margins for Q2 and the likelihood of increasing negative Player margins in the second half of 2021
- Year-over-year growth rates of both metrics to be lower than those in 2020
- Adjusted EBITDA is expected to be higher in the first half than in the second half.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2021
+6.1%
Avg return
Earnings day
+9.1%
Avg return
5 days after
+11.8%
Avg return
30 days after
49%
19 / 39 earnings
Positive
+76.5%
Q1 2016
Best reaction
-30.3%
Q4 2021
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +6.0% | +9.8% | +11.7% | |
| Q4 2025 | +8.6% | +8.8% | +10.5% | |
| Q3 2025 | +8.5% | +5.6% | -3.2% | |
| Q1 2025 | -8.7% | -11.0% | +7.7% | |
| Q4 2024 | +14.1% | +6.5% | -21.9% | |
| Q3 2024 | -16.1% | -12.1% | -9.7% | |
| Q2 2024 | -8.7% | -8.9% | +16.4% | |
| Q1 2024 | -8.9% | -6.7% | -8.2% | |
| Q4 2023 | -21.1% | -26.3% | -29.9% | |
| Q3 2023 | +31.0% | +39.8% | +73.8% | |
| Q2 2023 | +25.4% | +36.4% | +7.7% | |
| Q1 2023 | -1.2% | -1.8% | -2.9% | |
| Q4 2022 | +24.6% | +26.3% | +13.4% | |
| Q3 2022 | -8.7% | -11.3% | +6.9% | |
| Q2 2022 | -24.6% | -12.9% | -21.4% | |
| Q1 2022 | +9.6% | +22.6% | +13.8% | |
| Q4 2021 | -30.3% | -24.5% | -22.7% | |
| Q3 2021 | -7.7% | -11.6% | -34.4% | |
| Q2 2021 | -3.4% | -4.8% | -18.1% | |
| Q1 2021 | +4.2% | +3.3% | +7.5% | |
| Q4 2020 | +2.3% | -9.0% | -24.0% | |
| Q3 2020 | +17.5% | +0.6% | +37.4% | |
| Q2 2020 | -7.6% | -9.6% | -3.9% | |
| Q1 2020 | -0.7% | -0.3% | -18.1% | |
| Q4 2019 | -5.8% | -8.1% | -41.5% | |
| Q3 2019 | -15.1% | -7.4% | +3.4% | |
| Q2 2019 | +23.9% | +36.4% | +72.5% | |
| Q1 2019 | +29.1% | +23.4% | +58.2% | |
| Q4 2018 | +20.2% | +21.3% | +19.1% | |
| Q3 2018 | -17.8% | -25.5% | -31.8% | |
| Q2 2018 | +20.9% | +16.8% | +37.6% | |
| Q1 2017 | -0.5% | -2.9% | +10.7% | |
| Q1 2018 | +7.1% | +6.6% | +18.5% | |
| Q2 2016 | -7.8% | -5.4% | -23.7% | |
| Q2 2017 | -7.8% | -5.4% | -23.7% | |
| Q4 2017 | -17.8% | -21.0% | -37.4% | |
| Q3 2016 | +76.5% | +96.1% | +137.7% | |
| Q1 2016 | +76.5% | +96.1% | +137.7% | |
| Q3 2017 | +52.6% | +123.3% | +134.1% | |
| Q4 2016 | — | — | — |
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