ROKU, INC Earnings Summary — Q1 2026

• Revenue growth accelerated to 22.36% year-over-year, reaching $1.25 billion for the quarter.
• The company maintained GAAP profitability for the third consecutive quarter, with net income rising to $85.7 million.
• Gross profit saw a significant recovery to $564.9 million, indicating improved platform economics and cost control.
• Operating expenses were well-managed at $513.16 million, down sequentially from $540.85 million in Q4 2025.
• Roku's pivot from hardware-centric to a high-margin advertising and platform model is now firmly reflecting in the bottom line.
• The company continues to maintain a pristine balance sheet with zero long-term debt.
• Share count dilution remains a factor with basic shares outstanding rising 3.3% year-over-year.

Management remains focused on driving GAAP profitability and positive free cash flow, emphasizing the scale of the Roku OS as a neutral gatekeeper for TV advertising.

Improving

After a period of heavy losses in 2022-2023, the consistent quarterly net income and stabilizing operating margins signal a successful structural turnaround.

The long-term outlook is supported by the massive scale growth to over $4.7B in annual revenue and the successful monetization of the platform segment, though it remains sensitive to cyclical advertising demand.