Roku, Inc. (NASDAQ:ROKU) Q1 2024 Earnings Call Transcript April 25, 2024 5:00 PM ET
Company Participants
Conrad Grodd - IR
Anthony Wood - Founder and CEO
Dan Jedda - CFO
Mustafa Ozgen - President, Devices
Charlie Collier - President, Roku Media
Conference Call Participants
Cory Carpenter - JPMorgan
Vasily Karasyov - Cannonball Research
Steven Cahall - Wells Fargo
Ralph Schackart - William Blair
Rich Greenfield - LightShed Partners
Ruplu Bhattacharya - Bank of America
Jason Bazinet - Citi
Barton Crockett - Rosenblatt
Ian Peterson - Evercore ISI
Operator
Good day, everyone, and thank you for standing by. Welcome to the Roku's First Quarter 2024 Earnings Call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions] And please be advised that today's conference is being recorded. I would now like to hand the conference over to Conrad Grodd. Please go-ahead.
Conrad Grodd
Thank you, operator. Welcome to Roku's First Quarter 2024 Earnings Call. On today's call are Anthony Wood, Roku's Founder and CEO; Dan Jedda, our CFO; Charlie Collier, President, Roku Media; and Mustafa Ozgen, President, Devices. Full details of our results and additional management commentary are available in our Shareholder Letter, which can be found on our Investor Relations website at roku.com/investor.
On this call, we'll make forward-looking statements, which are predictions, projections, or other statements about future events, based on current expectations, forecasts, and assumptions. These statements involve risks and uncertainties. Please refer to our Shareholder Letter and periodic SEC filings for risk factors that could cause our actual results to differ materially from these forward-looking statements.
On today's call, we'll present GAAP and non-GAAP financial measures. Reconciliations of non-GAAP measures of the most comparable GAAP financial measures are provided in our Shareholder Letter. Finally, unless otherwise stated, all comparisons on this call will be against the results of the comparable period of 2023.
Now, I'd like to hand the call over to Anthony.
Anthony Wood
Thank you, Conrad. We delivered solid results in Q1, growing streaming households 14% year-over-year, streaming hours 23% year-over-year, and platform revenue 19% year-over-year.
As I mentioned on the Q4 call, this year, we are directing more of our attention to platform growth and innovation. We will accelerate platform revenue, adjusted EBITDA, and free cash flow growth in 2025 by focusing on three key opportunities, maximizing the Roku home screen as the lead-in for TV, growing Roku bill subscriptions, and growing ad demand for Roku.