Roku Files 2024 10-K: Financials and Operations Detailed

TL;DR

ROKU's 2024 10-K is in. Full financial breakdown for the year ending Dec 31, 2024, now available.

AI Summary

Roku, Inc. filed its 2024 10-K on February 14, 2025, reporting its financial performance for the fiscal year ending December 31, 2024. The filing details the company's operations in the Cable & Other Pay Television Services sector, with its principal executive offices located in San Jose, California. Key financial data and segment performance are outlined within the comprehensive report.

Why It Matters

This 10-K filing provides investors and analysts with a detailed overview of Roku's financial health, operational performance, and strategic positioning for the fiscal year 2024, influencing investment decisions.

Risk Assessment

Risk Level: medium — 10-K filings are standard annual reports, but the inherent risks of the technology and media sectors can impact Roku's performance.

Key Numbers

• 1231 — Fiscal Year End (Indicates the end of the reporting period for the 2024 fiscal year.)
• 408-556-9040 — Business Phone (Contact number for Roku, Inc.)

Key Players & Entities

• ROKU, INC (company) — Filer of the 10-K
• San Jose, CA (location) — Location of Roku's business address
• 2024-12-31 (date) — Fiscal year end date
• 20250214 (date) — Filing date of the 10-K

FAQ

Key Financial Figures

• $0.0001 — which registered Class A Common Stock, $0.0001 par value ROKU The Nasdaq Global Select

Filing Documents

• roku-20241231.htm (10-K) — 2043KB
• fy2024ex104xformsofconsoli.htm (EX-10.4) — 242KB
• fy2024ex105xformsofconsoli.htm (EX-10.5) — 101KB
• fy2024formex191rokuinsider.htm (EX-19.1) — 106KB
• a09fy2024ex211xsubsidiaries.htm (EX-21.1) — 6KB
• a10fy2024ex231xauditorcons.htm (EX-23.1) — 3KB
• a05fy202410-kexhibit311.htm (EX-31.1) — 11KB
• a06fy202410-kexhibit312.htm (EX-31.2) — 11KB
• a07fy202410-kexhibit321.htm (EX-32.1) — 5KB
• a08fy202410-kexhibit322.htm (EX-32.2) — 5KB
• roku-20241231_g1.jpg (GRAPHIC) — 398KB
• 0001428439-25-000013.txt ( ) — 12104KB
• roku-20241231.xsd (EX-101.SCH) — 72KB
• roku-20241231_cal.xml (EX-101.CAL) — 110KB
• roku-20241231_def.xml (EX-101.DEF) — 328KB
• roku-20241231_lab.xml (EX-101.LAB) — 870KB
• roku-20241231_pre.xml (EX-101.PRE) — 629KB
• roku-20241231_htm.xml (XML) — 1614KB

Business

Business 1 Item 1A

Risk Factors

Risk Factors 9 Item 1B Unresolved Staff Comments 40 Item 1C Cybersecurity 40 Item 2

Properties

Properties 41 Item 3

Legal Proceedings

Legal Proceedings 41 Item 4 Mine Safety Disclosures 41 PART II Item 5 Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 42 Item 6 Reserved 43 Item 7

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 44 Item 7A

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 52 Item 8

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 54 Item 9 Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 86 Item 9A

Controls and Procedures

Controls and Procedures 86 Item 9B Other Information 88 Item 9C Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 88 PART III Item 10 Directors, Executive Officers and Corporate Governance 89 Item 11

Executive Compensation

Executive Compensation 89 Item 12

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 89 Item 13 Certain Relationships and Related Transactions, and Director Independence 89 Item 14 Principal Accounting Fees and Services 89 PART IV Item 15 Exhibits and Financial Statement Schedules 90 Item 16 Form 10-K Summary 91

Signatures

Signatures 92 i Table of Contents GLOSSARY OF SELECTED TERMS As used in this Annual Report on Form 10-K ("Annual Report"), unless the context otherwise requires, references to the following terms have the respective meaning as defined below. Ad-supported Video on Demand (AVOD) : Streaming content supported by advertising that does not charge a fee to the viewer. Apps : Primarily refers to the direct-to-consumer streaming applications on the Roku platform (e.g., The Roku Channel or Netflix). We also use "apps" to refer to mobile applications (such as our Roku Smart Home app). Average Revenue per User (ARPU): Platform revenue for the trailing four quarters divided by the average of the number of Streaming Households at the end of the current period and the end of the corresponding period in the prior year. See Item 7, Management's Discussion and Analysis of Financial Condition and Results of Operations, Key Performance Metrics and Non-GAAP Measure, elsewhere in this Annual Report for additional detail. Demand-side platform (DSP): Programmatic advertising technology that allows advertisers and advertising agencies to buy advertising inventory across multiple platforms and publishers through one interface. FAST: Free, ad-supported linear streaming TV, which does not include on-demand content. Licensed Roku TV partners: TV original equipment manufacturers ("OEMs") that license the Roku TV OS and leverage our smart TV reference designs to build TVs. Linear TV: A TV format that provides programming at specifically scheduled times. Premium Subscriptions: Subscription-based streaming services from content partners (e.g., Paramount) offered through The Roku Channel. Roku-branded TVs: TVs powered by the Roku TV OS that are designed, made, and sold by Roku. Roku-branded TVs include the Roku Select, Roku Plus, and Roku Pro Series TVs. Roku Experience : The user experience on the Roku platform, representing all the features that Roku builds and operates to engag

: Business

Item 1: Business Overview Roku, Inc. ("Roku," the "Company," "we," or "us") is the leading TV streaming platform in the United States, Canada, and Mexico by hours streamed. We pioneered streaming to the TV and believe that all TV will be streamed. The shift of the TV ecosystem to streaming continues and is expanding TV's capabilities for viewers, content partners, advertisers, and other industry participants. Nearly every major media company not only has a streaming service, but has also expanded beyond pure subscription streaming models to ad-supported streaming options. Advertisers use TV streaming to reach viewers who are increasingly unreachable on traditional TV, while also benefiting from the digital advertising capabilities that TV streaming platforms can deliver. Our Mission Our mission is to be the global TV streaming platform that connects and benefits the entire TV ecosystem of viewers, content partners, and advertisers. Through our TV streaming platform, we connect viewers to the entertainment they love; enable content partners to build, engage, and monetize large audiences; and provide advertisers with unique capabilities to reach viewers. Our Strategy and Business Model The foundation of our platform is the Roku TV OS, which is purpose built for TVs and powers Roku streaming devices. The Roku TV OS is designed to run on low-cost hardware, which enables Roku streaming devices to be sold to consumers at competitive prices. The Roku TV OS connects viewers to our streaming platform via a broadband network, giving them access to a wide selection of content through an experience that is both delightful and easy to use. We provide periodic updates via the Roku TV OS to continuously deliver an exceptional streaming experience. We dedicate significant resources to build, maintain, and advance the Roku TV OS; to provide an industry-leading streaming platform for our viewers, content partners, and advertisers; to obtain content for our streaming platform