Exhibit 99.1

 

 

February 13, 2020

Fellow Shareholders,

 

In Q4 2019, we exceeded our outlook for revenue, gross profit and adjusted EBITDA.  For the full year, we achieved strong growth, exceeded $1.1 billion in revenue, and reinforced our position as America’s No. 1 TV streaming platform by hours streamed.  We connect consumers, content publishers, advertisers and TV brands and are rapidly increasing our scale.

2019 was a tremendous year for TV streaming as the massive shift of the TV ecosystem gained momentum. These developments were a clear indication that traditional media, as well as new entrants, plan to compete aggressively in OTT and we believe Roku is the best platform for them to engage streamers.

In the midst of this ongoing shift in the industry, we continue to execute well against our strategic plans by launching innovative products, being a neutral partner at the center of the streaming ecosystem, building capabilities to aggregate content and engage viewers, and further strengthening our unique advertising platform which offers superior capabilities for brands. Given the size of the opportunity, we believe that investing incremental gross profit in 2020 to extend our strategic advantages best positions us for the decade ahead.  

2019 Highlights

 

Total net revenue grew 52% YoY to $1,128.9 million;

 

Platform revenue increased 78% YoY to $740.8 million;

 

Gross profit was up 49% YoY to $495.2 million;

 

Roku added 9.8 million incremental active accounts in 2019 to reach 36.9 million at year end;

 

Streaming hours increased by 16.3 billion hours YoY to a record 40.3 billion;

 

Average Revenue Per User (ARPU) increased $5.19 YoY to $23.14 (trailing 12-month basis);

 

Roku monetized video ad impressions more than doubled again in 2019;

 

For the full year, nearly one in three smart TVs sold in the U.S. were Roku TVs.

 

Roku Q4 and Full Year 2019 Shareholder Letter

1

 

 


The following information was filed by Roku, Inc (ROKU) on Thursday, February 13, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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