Roku, Inc. (NASDAQ:ROKU) Q2 2024 Earnings Conference Call August 1, 2024 5:00 PM ET

Company Participants

Conrad Grodd - Vice President, Investor Relations
Anthony Wood - Founder, Chairman and Chief Executive Officer
Dan Jedda - Chief Financial Officer
Charlie Collier - President, Roku Media

Conference Call Participants

Shyam Patil - Susquehanna
Jason Helfstein - Oppenheimer
Laura Martin - Needham
Vasily Karasyov - Cannonball Research
Peter Supino - Wolfe Research
Michael Morris - Guggenheim Securities
Tim Nollen - Macquarie
Cory Carpenter - JPMorgan
David Joyce - Seaport Research

Operator

Ladies and gentlemen thank you for standing by. Welcome to the Second Quarter 2024 Roku Earnings Conference 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] Please be advised that today's conference is being recorded.

I would like now to turn the conference over to Conrad Grodd, Vice President of Investor Relations. Please go ahead.

Conrad Grodd

Welcome to Roku's second quarter 2024 earnings call. On today's call are Anthony Wood, Roku's Founder and CEO; Dan Jedda, our CFO; and Charlie Collier, President, Roku Media. Our full results and additional management commentary are available in our shareholder letter on our IR website at roku.com/investor.

On this call, we will make forward-looking statements, which are subject to 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.

We will also present GAAP and non-GAAP financial measures. Reconciliations of non-GAAP measures to the most comparable GAAP financial measures are provided in our shareholder letter. Unless otherwise stated, all comparisons will be against our results for the comparable 2023 period.

Now I'll hand the call over to Anthony.

Anthony Wood

Thanks, Conrad. This quarter, Roku continued to build on our foundation of unmatched scale and engagement, while remaining focused on operational discipline. We continue to lean into our unique asset, The Roku Home Screen, which is the beginning of the viewer's TV experience.

Every day, US households representing more than 120 million people begin their streaming journey on the Roku Home Screen. This fact, along with our development and operations pipeline makes me confident we will be able to accelerate our Platform Revenue in 2025.

In Q2, we grew Streaming Households 14% year-over-year, Streaming Hours 20% year-over-year, and Platform Revenue 11% year-over-year. In the US, Roku is the number one TV OS by both TV unit sales and hours streamed, and our share of each is more than double the next largest operating system.