Thread by @OphirGottlieb

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$ROKU

Total net revenue grew 42% YoY to $356.1 million;

Revenue: $356M vs analysts $311M

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$ROKU

Roku added 3.2 million incremental active accounts in Q2 2020 to reach 43 million;

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$ROKU

Year-over-year active account growth accelerated in Q2 to 41% with ending active accounts reaching 43 million, driven by strong sales of both players and Roku TV models throughout the quarter

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$ROKU

Streaming hours increased by 2.3 billion hours over last quarter to 14.6 billion;

Average Revenue Per User (ARPU) of $24.92 (trailing 12-month basis), up 18% YoY;

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$ROKU

Roku Q2 EPS $(0.35) Beats $(0.51) Estimate

Sales $356.07M Beat $312.46M Estimate

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$ROKU

The reason the stock isn't at all time highs is lack of guidance which we will hear about on the call.

42% revenue growth on over $1B in revenue in the face of a *bad* advertising market is totally absurd.

Huge numbers.

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$ROKU

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In Q2, the most-used subscription services on the Roku platform grew quickly, with key services nearly doubling their aggregate streaming hours year-over-year.

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$ROKU

Roku was the No. 1 connected device based on hours streamed for Disney+ in the week following the release of Hamilton, according to Comscore, OTT Intelligence, July 2020. U.S.

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$ROKU

Premium Subscription services within The Roku Channel, such as Showtime and Starz, achieved significant subscription gains through extended free trial offers.

Movie and TV rentals and purchases hit an all-time high in Q2.

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$ROKU

Last December, we announced that Steve Louden would relocate and leave Roku after bringing on board his successor. Over recent months, Steve has proven that he is more than capable of performing the CFO role while residing in Seattle.

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$ROKU

Hence, we are delighted that Steve will be staying on as Roku’s CFO and we have ended the search for his successor.

h/t @TiernanRayTech

13/13 end

$ROKU
Platform revenue: $244.8M beats estimates of $239.9M.

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$ROKU

Added 3.2 million incremental active accounts in Q2, a record for a non-Q4 holiday quarter.

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$ROKU

Streaming hours per active account peaked in early Q2 and has since moderated, but *remains above pre-COVID levels*.

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$ROKU

Player revenue grew 35% year over year, the highest growth rate in over five years.

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$ROKU

CEO:

"[] the indicators that we look at seem to indicate that everything is not just a pull forward during the year, that the shift to streaming and the growth in active accounts has just accelerated."

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$ROKU

When $DIS streamed Hamilton, Roku was the largest streaming platform of any of the streaming platforms including phones.

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$ROKU

* Platform revenues grew 46%.

* Video ad impressions were up 50%.

This is against the backdrop of linear TV *declining* 15% to 25%.

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$ROKU

CEO:

"[A]ll television is going to stream, that of course means all TV ads are going to stream. All advertising is going to switch to OTT for video, and we're just still in the very early days.

So that is the huge opportunity ahead of us."

21/21

$ROKU

Performance advertising business, a newer category catering to direct response advertisers (like e-commerce), grew 346% year-over-year, aided in part by marketers reevaluating their *social media* spending.