Roku Inc.

05/01/2026 | Press release | Distributed by Public on 05/01/2026 14:05

Quarterly Report for Quarter Ending March 31, 2026 (Form 10-Q)

Management's Discussion and Analysis of Financial Condition and Results of Operations
The following discussion and analysis of our financial condition and results of operations should be read in conjunction with our condensed consolidated financial statements and related notes included elsewhere in this Quarterly Report and with our audited consolidated financial statements included in our Annual Report for the year ended December 31, 2025, filed on February 13, 2026 with the SEC (the "Annual Report"). In addition to historical financial information, the following discussion contains forward-looking statements that reflect our plans, estimates, beliefs, and expectations, and involve risks and uncertainties. Factors that could cause or contribute to these differences include those discussed below and in our Annual Report.
Overview
Effective in the first quarter of 2026, our reportable segments changed. We now manage and report our operating results through three reportable segments: Advertising, Subscriptions, and Devices. Previously, we reviewed and managed the new Advertising and Subscriptions segments as a combined Platform segment. This change was made to reflect our ongoing evaluation and monitoring of our business, including changes made to both our internal reporting and the information reported to the CODM. Segment financial information for the first quarter of 2025 has been retrospectively adjusted to reflect these changes.
Advertising revenue is generated from the sale of digital advertising, including direct and programmatic video advertising, ads integrated into our user interface ("UI"), and related services.
Subscriptions revenue is generated from the sale of subscriptions to end users, including subscription revenue shares from content partners, the sale of Premium Subscriptions, and the sale of owned and operated subscription services. Subscriptions revenue also includes the sale of branded app buttons on remote controls.
"Platform" revenue, cost of revenue, and gross profit reflect the combined revenue, cost of revenue, and gross profit attributable to our Advertising and Subscriptions segments.
Devices revenue is generated from the sale of streaming players, Roku-made TVs, smart home products and services, audio products, and related accessories. We expect to continue to manage the average selling prices of Roku streaming devices in an effort to sell more devices, which we believe will increase our Streaming Households. We expect that this trade off from Devices gross profit or loss to grow Streaming Households should result in increased total Platform revenue and total Platform gross profit over time.
Business Conditions and Macroeconomic Factors
Our business is subject to risks related to the evolving macroeconomic environment, including the effects of increased volatility in financial markets, higher inflation and interest rates, potential economic slowdown or recession, geopolitical developments, such as the conflict in the Middle East, changes in economic or government policies, including the unknown impact of tariffs, changing global regulations, global supply chain constraints, including the scarcity of, or increased prices for, key components such as memory chips, and the overall uncertainty surrounding international trade relations. While we intend to remain vigilant in monitoring the impacts of these circumstances on our business and adapt accordingly, the effects of these macroeconomic factors on our business, results of operations, and financial condition remain largely uncertain. See Item 1A, Risk Factors, and the Note Regarding Forward Looking Statements elsewhere in this Quarterly Report for additional details.
Key Performance Metrics and Non-GAAP Measures
Since our IPO in 2017, the streaming TV industry has evolved meaningfully, with Americans now spending significantly more TV time streaming than watching traditional TV. Our business has also grown and evolved, and we are now primarily focused on growing Platform revenue and profitability.
The key performance metrics ("KPMs") we use to evaluate our business, measure our performance, develop financial forecasts and make strategic decisions are Streaming Hours, Platform revenue, Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization ("Adjusted EBITDA"), and Free Cash Flow.
Streaming Hours
We believe the number of Streaming Hours on our platform is an effective measure of user engagement and that the growth in the number of hours of content streamed across our platform reflects our success in addressing the growing user demand for TV streaming. We define Streaming Hours as the aggregate amount of time Roku streaming devices stream content on our platform in a given period. Hours streamed from The Roku Channel on non-Roku platforms are not included in this metric. Additionally, smart home products do not contribute to our Streaming Hours.
Additionally, we believe that over time, increasing user engagement on our streaming platform increases our platform monetization because we earn Platform revenue from various forms of user engagement, including advertising, as well as revenue shares from subscriptions and transactional video on-demand. However, our revenue from content partners is not tied to the hours streamed on their streaming apps, and the number of Streaming Hours does not correlate to revenue earned from such content partners or ARPU on a period-by-period basis. Moreover, Streaming Hours on our platform are measured whenever a Roku streaming device is streaming content, whether a viewer is actively watching or not. For example, if a Roku player is connected to a TV, and the viewer turns off the TV, steps away, or falls asleep and does not stop or pause the player, then the particular streaming app may continue to play content for a period of time determined by the streaming app. We believe that this also occurs across a wide variety of non-Roku streaming devices and other set-top boxes.
Since 2020, all of our Roku streaming devices include a Roku TV OS feature that is designed to identify when content has been continuously streaming on an app for an extended period of time without user interaction. This feature, which we refer to as "Are you still watching," periodically prompts the user to confirm that they are still watching the selected app and closes the app if the user does not respond affirmatively. We believe that the implementation of this feature across the Roku platform benefits us, our customers, content partners, and advertisers. Some of our leading content partners, including Netflix, also have implemented similar features within their apps. This Roku TV OS feature supplements these app features. This feature has not had and is not expected to have a material impact on our financial performance.
We streamed 38.7 billion and 35.8 billion hours during the three months ended March 31, 2026 and 2025, respectively, reflecting an increase of 8%.
Platform Revenue
We use Platform revenue as a primary metric to measure the performance of our business because it represents our ability to successfully monetize our platform. Platform revenue includes revenue from both our Advertising and Subscriptions segments and its growth is one of our strategic priorities. Platform revenue was $1,131.2 million and $880.8 million for the three months ended March 31, 2026 and 2025, respectively.
Adjusted EBITDA (Non-GAAP Measure)
We use Adjusted EBITDA as a primary metric to measure the performance of our business because it represents our ability to successfully manage profitability. Our goal is to grow Adjusted EBITDA over time, driving continued growth in stockholder value.
Adjusted EBITDA is a non-GAAP financial measure. The Adjusted EBITDA reconciliation excludes total other income, net, stock-based compensation expense, depreciation and amortization, restructuring charges, and income tax expense (benefit) from the net income (loss) of the period. We believe Adjusted EBITDA is useful as a supplement in evaluating our ongoing operational performance and enhancing an overall understanding of our past financial performance. However, this non-GAAP financial measure has limitations, and should not be considered in isolation or as a substitute for
our GAAP financial information, such as GAAP net income (loss). In addition, Adjusted EBITDA may not be comparable to similarly titled metrics of other companies due to differences in methods of calculation.
The following table presents a reconciliation of Adjusted EBITDA to the most directly comparable GAAP financial measure for each of the periods indicated (in thousands):
Three Months Ended
March 31, 2026 March 31, 2025
Net income (loss) $ 85,700 $ (27,431)
Total other income, net (36,873) (17,216)
Stock-based compensation 78,682 95,494
Depreciation and amortization 17,928 15,192
Restructuring charges - 3,064
Income tax expense (benefit) 2,945 (13,083)
Adjusted EBITDA $ 148,382 $ 56,020
Free Cash Flow (Non-GAAP Measure)
We use Free Cash Flow as a primary metric to measure the performance of our business because we believe maximizing Free Cash Flow helps indicate the financial strength of our business, as well as provide an indication of cash generated or (used) by the business. Our goal is to continuously increase Free Cash Flow over time. We define Free Cash Flow as our trailing 12-month ("TTM") cash flows from operating activities excluding purchases of property and equipment and the effects of exchange rates on cash.
Our Free Cash Flow was $538.8 million and $298.4 million for the TTM periods ended March 31, 2026 and 2025, respectively.
Free Cash Flow is a non-GAAP financial measure. The Free Cash Flow reconciliation excludes purchases of property and equipment and effects of exchange rates on cash from the cash flows from operating activities, in each case where applicable. We believe Free Cash Flow is useful as a supplement in evaluating our ongoing operational performance and enhancing an overall understanding of our past financial performance. However, this non-GAAP financial measure has limitations, and should not be considered in isolation or as a substitute for our GAAP financial information, such as GAAP cash flows from operating activities. For additional information about cash flows from operating activities, see "Liquidity and Capital Resources" below. In addition, Free Cash Flow may not be comparable to similarly titled metrics of other companies due to differences in methods of calculation.
The following table presents a reconciliation of Free Cash Flow to the most directly comparable GAAP financial measure for each of the periods indicated (in thousands):
Trailing Twelve Months Ended
March 31, 2026 March 31, 2025
Net cash provided by operating activities $ 544,126 $ 310,094
Less: Purchases of property and equipment (6,483) (6,320)
Add/(Less): Effect of exchange rate changes on cash, cash equivalents and restricted cash 1,126 (5,328)
Free cash flow (TTM) $ 538,769 $ 298,446
Components of Results of Operations
Revenue
Advertising Revenue
We generate Advertising revenue from the sale of digital advertising including direct and programmatic video advertising, ads integrated into our UI, and related services. Our ad inventory primarily includes video ad inventory from AVOD content in The Roku Channel, native ads throughout the Roku Experience, as well as ad inventory we obtain as consideration from our streaming services distribution agreements with our content partners.
Subscriptions Revenue
We generate Subscriptions revenue from the sale of subscriptions to end users, including subscription revenue shares from content partners, the sale of Premium Subscriptions, and the sale of owned and operated subscription services. Subscriptions revenue also includes the sale of branded app buttons on remote controls.
The aggregate of both our Advertising and Subscriptions revenue is collectively referred to as our Platform revenue and represents our ability to monetize our platform. To date, we have generated most of our Platform revenue in the United States.
Devices Revenue
We generate Devices revenue from the sale of streaming players, Roku-made TVs, smart home products and services, audio products, and related accessories. We generate most of our Devices revenue in the United States. In our international markets, we primarily sell our devices through wholesale distributors which, in turn, sell to retailers.
Cost of Revenue
Cost of Revenue, Advertising
Cost of revenue, advertising primarily consists of costs associated with acquiring advertising inventory, content amortization costs for both licensed and produced content, and costs associated with the delivery of our services that primarily include costs of third-party cloud services.
Cost of Revenue, Subscriptions
Cost of revenue, subscriptions primarily consists of costs for licensed Premium Subscriptions, revenue share payments on licensed content, and payment processing fees.
The aggregate of both our Advertising and Subscriptions cost of revenue is collectively referred to as our Cost of revenue, platform and represents the cost to monetize our platform.
Cost of Revenue, Devices
Cost of revenue, devices is comprised mostly of manufacturing costs payable to third-party manufacturers for devices we sell which include streaming players, Roku-made TVs, audio products and smart home products. Cost of revenue, devices also includes technology licenses or royalty fees on devices we sell, inbound and outbound freight, duty and logistics costs, third-party packaging, inventory provisions, and allocated overhead costs related to facilities, third-party cloud services, and salaries, benefits, and stock-based compensation for operations personnel.
Operating and Other Expenses
Research and Development
Research and development expenses consist primarily of salaries, benefits, and stock-based compensation for our development teams as well as outsourced development expenses. In addition, research and development expenses include allocated facilities and overhead expenses.
Sales and Marketing
Sales and marketing expenses consist primarily of salaries, benefits, commissions, and stock-based compensation for our employees engaged in sales and sales support, marketing, communications, data science and analytics, business development, product management, and partner support functions. Sales and marketing expenses also include marketing, retail and merchandising expenses, consulting and outside services, and allocated facilities and overhead expenses.
General and Administrative
General and administrative expenses consist primarily of salaries, benefits, and stock-based compensation for our finance, legal, information technology, human resources, and other administrative personnel. General and administrative expenses also include outside legal, accounting, and other professional service fees as well as allocated facilities and overhead expenses.
Other Income, Net
Other income, net primarily consists of interest income on cash and cash equivalents and short-term investments, foreign currency remeasurement, transaction gains and losses, and net change in the fair value of our strategic investments.
Income Tax Expense (Benefit)
Our income tax expense (benefit) consists primarily of income tax expense in certain foreign jurisdictions where we conduct business and income tax expense (benefit) in the United States. We have a full valuation allowance against net deferred tax assets in the United States as of March 31, 2026. Given our current and anticipated future earnings, we believe that there is a reasonable possibility that the valuation allowance against these net deferred tax assets may be
reversed within the next twelve months. The exact timing and amount of the valuation allowance release are subject to change based on the level of profitability that the Company actually achieves.
Results of Operations
The following table sets forth selected condensed consolidated statements of operations data as a percentage of total revenue for each of the periods indicated.
Three Months Ended
March 31, 2026 March 31, 2025
Net revenue:
Platform:
Advertising 49 % 47 %
Subscriptions 42 % 39 %
Total Platform 91 % 86 %
Devices 9 % 14 %
Total net revenue 100 % 100 %
Cost of revenue:
Platform:
Advertising 19 % 21 %
Subscriptions 25 % 20 %
Total Platform 44 % 41 %
Devices 11 % 16 %
Total cost of revenue 55 % 57 %
Gross profit (loss):
Platform:
Advertising 30 % 26 %
Subscriptions 17 % 19 %
Total Platform 47 % 45 %
Devices (2) % (2) %
Total gross profit 45 % 43 %
Operating expenses:
Research and development 15 % 18 %
Sales and marketing 18 % 22 %
General and administrative 8 % 9 %
Total operating expenses 41 % 49 %
Income (loss) from operations 4 % (6) %
Other income, net:
Interest expense - % - %
Other income, net 3 % 2 %
Total other income, net 3 % 2 %
Income (loss) before income taxes 7 % (4) %
Income tax expense (benefit) - % (1) %
Net income (loss) 7 % (3) %
Comparison of the Three Months Ended March 31, 2026 and 2025
Net Revenue
Three Months Ended
March 31, 2026 March 31, 2025 Change $ Change %
(in thousands, except percentages)
Platform:
Advertising $ 612,705 $ 482,823 $ 129,882 27 %
Subscriptions 518,525 397,994 120,531 30 %
Total Platform 1,131,230 880,817 250,413 28 %
Devices 117,649 139,855 (22,206) (16) %
Total net revenue $ 1,248,879 $ 1,020,672 $ 228,207 22 %
Advertising
Advertising revenue increased by $129.9 million, or 27%, during the three months ended March 31, 2026 as compared to the three months ended March 31, 2025, primarily driven by an increase in video ad impressions delivered. Video impressions increased by 59%, reflecting greater engagement and growth in video consumption on our platform as well as benefits from various monetization initiatives. This increase was partially offset by lower average price per impression of 14%, which was driven primarily from changes in product and country mix.
Subscriptions
Subscriptions revenue increased by $120.5 million, or 30%, during the three months ended March 31, 2026 as compared to the three months ended March 31, 2025, primarily due to a 12% increase in the number of subscriptions and a 22% increase in the average price per subscription. Included within these increases was the addition of our owned and operated subscription services, including both the acquisition of Frndly TV in May 2025 and the launch of Howdy in August 2025.
Devices
Devices revenue decreased by $22.2 million, or 16%, during the three months ended March 31, 2026 as compared to the three months ended March 31, 2025. The decrease in revenue is primarily due to lower sales of streaming players. During the three months ended March 31, 2026, the average selling price of all devices shipped decreased by 3% and the volume of all devices shipped decreased by 15% as compared to the three months ended March 31, 2025.
Cost of Revenue and Gross Profit (Loss)
Three Months Ended
March 31, 2026 March 31, 2025 Change $ Change %
(in thousands, except percentages)
Cost of revenue:
Platform:
Advertising $ 241,736 $ 212,424 $ 29,312 14 %
Subscriptions 305,409 204,082 101,327 50 %
Total Platform 547,145 416,506 130,639 31 %
Devices 136,798 159,121 (22,323) (14) %
Total cost of revenue $ 683,943 $ 575,627 $ 108,316 19 %
Gross profit (loss):
Platform:
Advertising $ 370,969 $ 270,399 $ 100,570 37 %
Subscriptions 213,116 193,912 19,204 10 %
Total Platform 584,085 464,311 119,774 26 %
Devices (19,149) (19,266) 117 (1) %
Total gross profit $ 564,936 $ 445,045 $ 119,891 27 %
Advertising
Cost of revenue, advertising increased by $29.3 million, or 14%, during the three months ended March 31, 2026 as compared to the three months ended March 31, 2025. The increase was primarily driven by a $39.8 million increase in the costs of acquiring and delivering licensed content for TRC due to an increase in user engagement and video ad impressions delivered, partially offset by a $6.8 million decrease in content amortization.
Subscriptions
Cost of revenue, subscriptions increased by $101.3 million, or 50%, during the three months ended March 31, 2026 as compared to the three months ended March 31, 2025. The increase was primarily driven by higher licensing and content costs of $67.4 million, which included costs related to our owned and operated subscription services, Frndly TV (beginning in May 2025) and Howdy (which launched in August 2025), and a growth in streaming hours.
Devices
Cost of revenue, devices decreased by $22.3 million, or 14%, during the three months ended March 31, 2026 as compared to the three months ended March 31, 2025. The decrease was primarily driven by lower manufacturing and freight costs of $24.3 million and $3.6 million, respectively, and a $7.6 million decrease in personnel costs. These decreases were partially offset by a $8.2 million increase in inventory reserves.
Operating Expenses
Three Months Ended
March 31, 2026 March 31, 2025 Change $ Change %
(in thousands, except percentages)
Research and development $ 189,492 $ 184,579 $ 4,913 3 %
Sales and marketing 221,221 223,693 (2,472) (1) %
General and administrative 102,451 94,503 7,948 8 %
Total operating expenses $ 513,164 $ 502,775 $ 10,389 2 %
Research and development
Research and development expenses increased by $4.9 million, or 3%, during the three months ended March 31, 2026 as compared to the three months ended March 31, 2025. The increase was primarily driven by higher facilities and IT expenses of $5.2 million and higher cloud hosting and consulting expenses of $3.7 million. The increase was partially offset by $2.3 million of non-recurring restructuring costs in the prior year.
Sales and marketing
Sales and marketing expenses decreased by $2.5 million, or 1%, during the three months ended March 31, 2026 as compared to the three months ended March 31, 2025. The decrease was primarily driven by lower marketing expenses of $8.8 million, partially offset by a $3.0 million increase in intangible amortization from our Frndly TV acquisition, and a $1.8 million increase in cloud hosting and consulting expenses.
General and administrative
General and administrative expenses increased by $7.9 million, or 8%, during the three months ended March 31, 2026 as compared to the three months ended March 31, 2025. The increase is primarily due to an increase of $9.8 million in non-income based taxes, partially offset by lower legal and consulting expenses of $3.1 million.
Other Income, Net
Three Months Ended
March 31, 2026 March 31, 2025 Change $ Change %
(in thousands, except percentages)
Interest expense $ (624) $ (433) $ (191) 44 %
Other income, net 37,497 17,649 19,848 112 %
Total other income, net $ 36,873 $ 17,216 $ 19,657 114 %
Total other income, net, increased by $19.7 million, or 114%, during the three months ended March 31, 2026 as compared to the three months ended March 31, 2025. The increase was primarily due to a gain on the sale of strategic investments of $13.4 million.
Income Tax Expense (Benefit)
Three Months Ended
March 31, 2026 March 31, 2025 Change $ Change %
(in thousands, except percentages)
Income tax expense (benefit) $ 2,945 $ (13,083) $ 16,028 (123) %
Income tax expense increased by $16.0 million for the three months ended March 31, 2026 as compared to the three months ended March 31, 2025. The increase was primarily driven by an increase in pre-tax book income, partially offset by decreases due to a reduction in U.S income taxes due to the 2025 enactment of the One Big Beautiful Bill Act.
Liquidity and Capital Resources
As of March 31, 2026, we had cash and cash equivalents of $1,649.9 million and short-term investments of $730.3 million. Approximately 6% of our cash was held outside the United States in accounts held by our foreign subsidiaries, which are used to fund foreign operations, and all short-term investments were held in the United States.
Our primary sources of cash are receipts from Advertising, Subscriptions, and Devices revenue. The primary uses of cash are costs of revenue including costs to acquire advertising inventory, costs to license and produce content, third-party manufacturing costs for our products, as well as operating expenses such as personnel-related expenses, consulting and professional service expenses, facility expenses, and marketing expenses. Other uses of cash include purchases of property and equipment, mergers and acquisitions, and share repurchases.
We have pursued merger and acquisition activities, such as the acquisition of Frndly TV, and we may pursue additional merger and acquisition activities in the future, including the acquisition of rights to programming and content assets. Though we do not expect to incur expenses for facilities and building related costs at the same level as we have in the last few fiscal years, we will continue to incur expenses on the maintenance of our facilities and purchases of computer systems, and other property and equipment, in order to support future growth in our business. These activities may materially impact our liquidity and capital resources.
We believe our existing cash and cash equivalents balance, and our undrawn available balance under our Credit Agreement (as discussed below), will be sufficient to meet our working capital, capital expenditures, and material cash requirements from known contractual obligations for the next twelve months and beyond. Our future capital requirements, the adequacy of available funds, and cash flows from operations could be affected by various risks, uncertainties, including, but not limited to, those detailed in Part II, Item 1A, Risk Factors in this Quarterly Report and the effects of the current macroeconomic environment. While the current macroeconomic environment has not severely impacted our liquidity and capital resources to date, it has contributed to disruption and volatility in local economies and in capital and credit markets, which could adversely affect our liquidity and capital resources in the future.
We may attempt to raise additional capital through the sale of equity securities or other financing arrangements. If we raise additional funds by issuing equity, the ownership of our existing stockholders will be diluted. If we raise additional financing by the incurrence of indebtedness, we may be subject to fixed payment obligations and also to restrictive covenants. Additionally, we may be unable to obtain debt or equity financing on terms that are acceptable to us.
Credit Agreement
On September 16, 2024, we entered into a Credit Agreement, by and among the Company, as borrower, certain of our subsidiaries, as guarantors, the lenders and issuing banks party thereto, and with Citibank N.A., as administrative agent (the "Credit Agreement"), which provides for (i) a five-year revolving credit facility in an aggregate principal amount of up to $300.0 million, and (ii) an uncommitted increase option of up to an additional $300.0 million exercisable upon the satisfaction of certain customary conditions. The Credit Agreement provides for a $100.0 million sub-facility for the issuance of letters of credit, and certain existing letters of credit were deemed outstanding under this facility. The Credit Agreement will mature on September 16, 2029. Proceeds from the Credit Agreement may be used for general corporate purposes, including to finance working capital requirements.
Our obligations under the Credit Agreement are secured by substantially all the assets of the Company and our subsidiaries that are guarantors under the Credit Agreement. We may prepay, and in certain circumstances, would be required to prepay, loans under the Credit Agreement without payment of a premium. The Credit Agreement also contains customary representations and warranties, customary affirmative and negative covenants, financial covenants requiring the maintenance of a minimum interest coverage ratio and a maximum total net leverage ratio, as well as customary events of default, the occurrence of which could result in amounts borrowed under the Credit Agreement becoming due and payable and remaining commitments terminated prior to its scheduled September 16, 2029 termination date.
We had outstanding letters of credit secured by the Credit Agreement of $39.5 million as of March 31, 2026. As of March 31, 2026, we had not borrowed against the Credit Agreement, and we were in compliance with all of the covenants of the Credit Agreement. See Note 11 to our Condensed Consolidated Financial Statements in Part I, Item 1 of this Quarterly Report for additional details.
Share Repurchases
During the three months ended March 31, 2026, we repurchased 1.0 million shares of our Class A common stock through our stock repurchase program. All share repurchases were made using cash resources. As of March 31, 2026, $150.0 million remained of our $400 million stock repurchase program. See Note 12 to our Condensed Consolidated Financial Statements in Part I, Item 1 of this Quarterly Report for additional details.
Cash Flows
The following table summarizes our cash flows for the periods presented (in thousands):
Three Months Ended
March 31, 2026 March 31, 2025
Consolidated Statements of Cash Flows Data:
Cash flows provided by operating activities $ 199,140 $ 138,732
Cash flows provided by (used in) investing activities $ 15,265 $ (8,931)
Cash flows used in financing activities $ (149,731) $ (36,072)
Cash Flows from Operating Activities
Cash provided by operating activities increased in the three months ended March 31, 2026 compared to the three months ended March 31, 2025 primarily due to net income of $85.7 million in the current year, compared to a net loss of $27.4 million in the prior year, which was partially offset by lower non-cash charges primarily due to lower stock-based compensation and a decrease in other operating assets and liabilities due to an increase in collections and payments made.
Cash Flows from Investing Activities
Net cash provided by investing activities increased during the three months ended March 31, 2026 compared to the three months ended March 31, 2025 due primarily to sale of strategic investments of $18.4 million and partially offset by purchases of property and equipment of $3.1 million.
Cash Flows from Financing Activities
Net cash used in financing activities increased during the three months ended March 31, 2026 compared to the three months ended March 31, 2025 primarily due to tax payments of $51.5 million to net settle equity awards vested during the period and $100.0 million in repurchases of our common stock, partially offset by proceeds from the exercise of employee stock options of $1.8 million.
Material Cash Requirements from Known Contractual Obligations
For a description of our purchase obligations and operating lease obligations, refer to Note 13 and Note 10 to our Condensed Consolidated Financial Statements in Part I, Item 1 of this Quarterly Report, respectively.
Critical Accounting Estimates
Our financial statements are prepared in accordance with generally accepted accounting principles in the United States. The preparation of these financial statements requires us to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue, expenses, and related disclosures. These estimates and assumptions are based on historical experience, current trends and other factors that we believe to be reasonable at the time our condensed consolidated financial statements are prepared. We evaluate our estimates and assumptions on an ongoing basis. Our actual results could differ from these estimates. There have been no material changes to our critical accounting policies and estimates as compared to critical accounting policies and estimates described in our Annual Report.
Roku Inc. published this content on May 01, 2026, and is solely responsible for the information contained herein. Distributed via EDGAR on May 01, 2026 at 20:05 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]