EarningsQ1 2026 Earnings Report
MX:ROKU Q1 2026 EPS Results
Actual EPS$10.50
Consensus EPS$6.08
Beat/MissBeat by +$4.42
One Year Ago EPS-$3.50
MX:ROKU Q1 2026 Revenue Results
Actual Revenue$23.00B
Expected Revenue$22.17B
Beat/MissBeat by +$828.58M
YoY Revenue Growth+22.36%
Earnings Announcement Details
QuarterQ1 2026
Date04/30/2026
TimeAfter Close
Conference CallThursday, April 30, 2026
MX:ROKU Upcoming Earnings
Roku's next earnings date is estimated for November 4, 2026, based on past reporting schedules.
Q1 2026 Earnings Call Audio
MX:ROKU Q1 2026 Earnings Call
0:00 / 0:00
Q1 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q1 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed a predominantly positive operational and financial trajectory: strong platform, advertising, and subscription revenue growth; meaningful margin expansion in advertising; record-like free cash flow; broad DSP and AI-driven product momentum; and a major scale milestone of 100M streaming households. Offsetting risks include device revenue and margin pressure from falling ASPs and rising memory costs, subscription gross margin mix effects, and second-half visibility risks tied to political ad spending and tougher comparables. On balance, the positive growth, margin improvement in the core platform business, and strong cash generation outweigh the device and mix headwinds.Company Guidance
Strong Platform and Advertising Growth
Platform revenue grew 28% year-over-year; advertising revenue grew 27% year-over-year. Management expects Q2 platform revenue growth of ~20% and raised full-year platform revenue guidance by over $100 million to nearly 21% growth.
Robust Subscription Performance
Subscription revenue grew 30% year-over-year (23% ex-Friendly acquisition), driven by premium subscription sign-ups and new tier-one launches including Apple TV (March) and Peacock.
Improving Profitability and Cash Generation
EBITDA margins more than doubled year-over-year to nearly 12%. Free cash flow was $148 million (second-highest on record) with free cash flow margins of nearly 16%. Management expects free cash flow to again exceed adjusted EBITDA for the full year.
Advertising Gross Margin Expansion and Demand Diversification
Advertising gross margin was just over 60% (up ~400 basis points year-over-year). Non-M&E advertisers reached an all-time high of ~30% of Roku Experience ad revenue, reflecting successful demand diversification and new higher-margin ad products (e.g., home screen video).
Scale and Platform Reach Milestone
Roku surpassed 100 million streaming households and reports nearly half of streaming in the U.S. occurs on its platform, reinforcing scale for monetization and partner distribution.
Programmatic & Product Momentum (DSPs, Ads Manager, AI)
Major third-party DSP integrations (Amazon, The Trade Desk, DV360/Campaign Manager 360, Yahoo, FreeWheel) are ramping and most video delivery is now via programmatic partners. Ads Manager adoption is growing and management emphasized broad generative AI adoption to improve discovery, ad performance, creative generation, engineer productivity, and new SMB-oriented ad products.
Home Screen Redesign Driving Engagement
Large-scale home screen test shows encouraging results: increased engagement, higher viewer satisfaction, and improved monetization (marquee ad viewed earlier, higher click-through rates). Company plans broad rollout.
MX:ROKU Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed