NASDAQ$ROKU
Roku Inc · Q2 2021 earnings
Q2 2021 earnings · · Investor relations
Briefing
Roku delivered strong results driven by platform monetization.
Roku reported a strong second quarter with record revenue growth, driven by exceptional performance in platform monetization. Total net revenue grew 81% year-over-year to $645 million, with platform revenue increasing 117% year-over-year to $532 million. Active accounts reached 55.1 million, and streaming hours were 17.4 billion. Average Revenue Per User (ARPU) grew to $36.46, up 46% year-over-year.
- Total net revenue grew 81% year-over-year to $645 million.
- Platform revenue increased 117% year-over-year to $532 million.
- Gross profit was up 130% year-over-year to $338 million.
- Active Accounts reached 55.1 million.
Headline financials
Revenue & EPS history
Roku · Revenue · Quarterly
$645M
Revenue by segment
Roku · $645M total across 2 segments · Q2 2021
- Platform$532M+117.4%82.5%
- Devices$113M+1.4%17.5%
Forward guidance
Roku's Q3 outlook includes total net revenue of $680 million at the midpoint (up 51% year-over-year) and total gross profit of $320 million at the midpoint (up 49% year-over-year). Adjusted EBITDA is expected to be $65 million at the midpoint.
Tailwinds
- Total net revenue of $680 million at the midpoint (up 51% year-over-year)
- Total gross profit of $320 million at the midpoint (up 49% year-over-year)
- Monetization remains strong within the Platform segment.
- Continued significant growth expected in the second half of the year within the Platform segment.
- Roku remains very well positioned to benefit from the long-term secular trend of audiences.
Headwinds
- Global supply chain constraints and component cost increases to worsen in the second half of 2021, leading to increasing negative player gross margin.
- Industry supply chain constraints and cost increases for streaming players and TV OEM partners will continue into 2022.
- Varying rates of recovery from the pandemic around the world continue to present an uncertain operating environment.
- Expect quarterly sequential increases in operating expenses in the second half of 2021 from investments in headcount, product development, and sales & marketing.
- Adjusted EBITDA to be $65 million at the midpoint in Q3.
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 Q2 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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