earnings
confidence high
sentiment neutral
materiality 0.75
Roku reports record FY2021 revenue of $2.765B, but Q4 profits decline; guides Q1 revenue $720M
ROKU, INC
2021-FY EPS reported
$1.71
revenue$2,764,584,000
- FY2021 total net revenue $2.765B (+55% YoY); platform revenue $2.285B (+80% YoY).
- Active accounts 60.1M (+8.9M YoY); ARPU $41.03 (+43% YoY); streaming hours 73.2B (+25% YoY).
- Q4 operating income $21.4M (-67% YoY); adjusted EBITDA $86.7M (-24% YoY); gross margin 43.9%.
- Q1 2022E: revenue $720M (+25% YoY), gross profit $360M, adjusted EBITDA $55M; full-year revenue growth expected 35%.
- Player gross margin worsened to -28.4% in Q4 due to supply chain disruptions; expects near-term pressure.