NASDAQ$ROKU
Roku Inc · Q4 2022 earnings
Q4 2022 earnings · · Investor relations
Briefing
Roku's Q4 2022 earnings reflected growth in active accounts and streaming hours, but were impacted by macroeconomic headwinds.
Roku's Q4 2022 saw a 16% increase in active accounts, reaching 70 million, and a 23% increase in streaming hours to 23.9 billion. Total net revenue reached $867.1 million, while the company experienced a net loss of $237.2 million.
- Active Accounts reached 70.0 million, a 16% year-over-year increase.
- Streaming Hours increased by 23% year-over-year to 23.9 billion.
- Platform revenue increased 5% year-over-year to $731.3 million.
- The Roku Channel reached U.S. households with an estimated 100 million people.
Headline financials
Revenue & EPS history
Roku · Revenue · Quarterly
$867M
Revenue by segment
Roku · $867M total across 2 segments · Q4 2022
- Platform$731M+3.9%84.3%
- Devices$136M-16.0%15.7%
Forward guidance
Roku anticipates macro uncertainty to persist in 2023, with improvements in some advertising verticals offset by continued pressure in others. The company is focused on managing operating expenses and expects to achieve positive adjusted EBITDA for the full year 2024.
Tailwinds
- Ad spend among verticals such as restaurants, travel, consumer packaged goods, and health and wellness appear to be improving thus far in Q1.
- Operating expense YoY growth to significantly decline over the course of the year, from approximately 40% in Q1 to single-digit YoY growth by Q4 2023.
- Unmatched scale and engagement, along with competitive advantages.
- Adjusting operations and operating expense profile to better manage through the challenging macro environment.
- Committed to a path that delivers positive adjusted EBITDA for full year 2024.
Headwinds
- Macro uncertainty seems likely to persist in 2023.
- Overall ad market was muted in Q4.
- Other verticals including financial services and M&E remain pressured.
- Continued weakness in M&E spend to compress Platform margins in the near term due to a higher mix shift toward video advertising.
- Q1 outlook reflects normal seasonality with total net revenue of roughly $700 million, total gross profit of roughly $310 million, and adjusted EBITDA of negative $110 million.
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 Q4 2022
+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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