Roku, Inc. (NASDAQ:ROKU) Q3 2024 Earnings Conference Call October 30, 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

Cory Carpenter - JPMorgan
Justin Patterson - KeyBanc
Vasily Karasyov - Cannonball Research
Ruplu Bhattacharya - Bank of America
Jason Bazinet - Citi
Peter Supino - Wolfe Research
Steven Cahall - Wells Fargo
Cameron McVeigh - Morgan Stanley
Ian Peterson - Evercore ISI

Operator

Good day everyone and thank you for standing by. Welcome to the Third 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.

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

Conrad Grodd

Thanks [indiscernible] Welcome to Roku's third 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. 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.

I’ll hand the call over to Anthony.

Anthony Wood

Thanks, Conrad. We delivered strong results in Q3, our first quarter of more than $1 billion in Total net revenue. Roku continued to benefit from our platform’s simplicity, value, and delight. The Roku OS has been the #1 selling TV OS in the U.S. for more than five years, and it was again the #1 selling TV OS in the U.S., Canada, and Mexico. Q3 was also the third straight quarter that The Roku Channel was the #3 app on our platform by both reach and engagement, with Streaming Hours up 80% Y-o-Y. A major driver of this growth is our position as the lead-in to TV, and we expect to build on this going forward.