Thread by @trengriffin

SaaS in a Box: "We certainly don’t make enough money to support our engineering organization and our operations and the cost of money to run the Roku service. That’s not paid for by the hardware. That’s paid for by our ad and content business.” google.com/amp/s/www.thev…

Roku Controls 43% of Connected TV Use vs. 18% for Amazon Fire multichannel.com/news/roku-cont…

"Roku's active accounts passed 30M and average revenue per user reached $21.06, up $2.00 from Q1 2019."

67% of Roku’s revenue was driven by the advertising and services business

OTT streamers will need distribution.

4/ "Roku full-year platform gross margins in the low 60s as a percentage of revenue. Expect player gross margins to be in the low single digits for 2019. We aren't optimizing for player gross profit....our strategy is trading player margin for account growth and platform revenue"

5/ Analyst: "My understanding Is if you sell a Disney subscription, Roku controls the consumer name, you recognize the $7, you hold onto your distribution fee, and you pay out whatever $5 or $5.50 to Disney. Is that the rev rec?" fool.com/earnings/call-… Answer:

6/ "We have an express strategy [at Roku] of running the company at EBITDA [Earnings Before Interest, Depreciation and Amortization] break even..."
cheddar.com/media/why-roku…

7/ 25iQuiz:
*GM = "low sixties."(assume 63%)
*"ARPU was about $20 on a trailing 12-month basis."
*30.5M active accounts, 4.8% higher than in Q1 2019

What ~ was CAC per gross addition?

How many months ~ to pay back CAC assuming churn is 1% a month? .5% a month? 2% a month?