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Roku Inc. (ROKU) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing details Roku's financial performance, reporting total revenue of $4.1 billion, an increase from $3.5 billion in the previous year. The increase was driven by growth in both platform and devices segments.
Platform revenue, which includes digital advertising and streaming services distribution, rose to $3.5 billion, marking an 18% increase from the prior year. This growth was attributed to higher revenue from streaming services distribution and advertising, despite challenges in the media and entertainment vertical.
Devices revenue increased by 20% to $590 million, primarily due to higher sales of Roku-branded TVs, although sales of streaming players, audio, and smart home products saw a decline.
The company reported a net loss of $129 million, compared to a net loss of $710 million in the previous year. The improvement was due to increased gross profit and reduced operating expenses.
Operating expenses decreased by 13% to $2.0 billion, primarily due to lower restructuring charges and reduced personnel-related expenses.
Roku's cash and cash equivalents stood at $2.2 billion as of December 31, 2024, with cash flows from operating activities providing $218 million during the year.
The filing also highlights Roku's strategic focus on expanding its international presence and enhancing its advertising capabilities, while continuing to innovate in its product offerings.
Roku's management discusses the risks associated with the competitive landscape of the TV streaming industry, including the need to maintain relationships with content partners and the impact of macroeconomic factors on advertising spending.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Roku Inc. annual 10-K report dated February 14, 2025. To report an error, please email earnings@qz.com.