Roku Q4 Revenue Hits $1.39B, Adjusted EBITDA More Than Doubles
Roku delivered Q4 revenue of $1.39 billion versus a $1.35 billion consensus and adjusted EBITDA of $169.4 million, more than double last year’s $77.5 million. Management repurchased $150 million of a $400 million share plan, reported 2025 net income profitability, and guided Q1 at $1.20 billion revenue with full-year $5.50 billion.
1. Q4 Financial Performance
Roku reported Q4 revenue of $1.39 billion, beating the $1.35 billion consensus, and achieved adjusted EBITDA of $169.4 million versus $77.5 million a year earlier. Platform gross margin reached 52.8% and streaming hours rose 15% to 145.6 billion for fiscal 2025.
2. Profitability and Share Repurchase
The company turned operating income positive in the second half of 2025 and delivered full‐year net income profitability ahead of schedule. Roku has repurchased about $150 million of its $400 million stock buyback and plans to fully offset dilution in 2026.
3. Forward Guidance and Outlook
Management guided Q1 2026 revenue of $1.20 billion versus a $1.17 billion consensus and forecast full‐year revenue of $5.50 billion with platform growth of 18% and adjusted EBITDA of $635 million. A path to over $1 billion in free cash flow by 2028 was outlined, supported by a capex‐light model.
4. Analyst Estimates and Technical Outlook
Analyst EPS estimates for Q1 rose 520% over the past week to $0.31, while full‐year estimates climbed 60% to $2.03. Technically, support at the 200-day moving average near $92.80 held and a breakout above the 50-day at $103 could signal a longer-term uptrend.