Roku’s Platform revenue rises 28% to $1.13 billion in Q1
Roku reported strong financial results for Q1 2026, with total net revenue up 22% year-over-year to $1.25 billion, and Platform revenue growing 28% year-over-year to $1.13 billion, driven by advertising and subscriptions. The company achieved $85.7 million in net income and $148.4 million in Adjusted EBITDA, an increase of 165% year-over-year, while also repurchasing $100 million in shares. Roku also updated its full-year 2026 outlook, anticipating Platform revenue to grow nearly 21% year-over-year to $5.0 billion and Adjusted EBITDA of $675 million.
Key Takeaways
- Advertising revenue rose 27% year over year to $612.7 million, while Subscriptions increased 30% to $518.5 million.
- Adjusted EBITDA reached $148.4 million, up 165% year over year, and net income was $85.7 million.
- Roku repurchased $100 million of shares in Q1, bringing total buybacks to $250 million since Q3 under its $400 million program.
- Roku Ads Manager advertisers more than doubled year over year, and ad spend through third-party programmatic partners increased more than 40%.
- Roku said more than 100 million Streaming Households worldwide now use a device powered by Roku TV OS.
Why It Matters
Roku’s Q1 shows the business moving further toward monetization: Platform revenue outgrew total revenue, margins improved, and the company stayed cash generative while buying back stock. The split between Advertising and Subscriptions, plus deeper programmatic integrations with DV360, Amazon DSP, The Trade Desk, Yahoo, and FreeWheel, shows Roku widening its ad demand base and subscription mix at the same time. Next to watch: whether Q2 Platform revenue lands near the company’s 20% growth target and whether full-year Adjusted EBITDA tracks the updated $675 million outlook.
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