Roku, Inc., the leading TV streaming platform, announced robust financial results for the second quarter of 2025, showcasing significant growth in its Platform business and strategic advancements in advertising and content distribution. The company reported total net revenue of $1,111 million, a 15% year-over-year (YoY) increase, driven by an 18% YoY surge in Platform revenue to $975 million. This performance exceeded expectations, fueled by strong video advertising growth and the recent acquisition of Frndly, which contributed approximately 1.8 points to the Platform’s growth.
Despite a 6% YoY decline in Devices revenue to $136 million, Roku maintained its position as the #1 TV operating system in the U.S., Canada, and Mexico. The company launched new compact devices, including the Roku Streaming Stick and Streaming Stick Plus.
Roku’s success in Q2 was underpinned by its expanding advertising ecosystem. The company deepened integrations with major demand-side platforms (DSPs) like Amazon and Wurl, enhancing its programmatic advertising capabilities through partnerships with Unity, The Trade Desk, Yahoo, and others. The launch of Roku Ads Manager has proven effective for small and medium-sized businesses (SMBs), with direct-to-consumer brand fatty15 achieving a conversion rate exceeding 30% through shoppable overlays. Roku’s focus on simplifying ad creation, exemplified by its award-winning collaboration with Spaceback for client Rollo, further strengthens its appeal to advertisers. The Roku Channel, the #2 app by engagement in the U.S., continued to drive viewership, representing 5.4% of all TV streaming time in June, according to Nielsen’s The Gauge.
The company’s streaming services distribution saw growth from increased Premium Subscription sign-ups, supported by last year’s price increases and the Frndly acquisition. Roku’s Home Screen features, such as AI-powered content rows and the Live TV guide, drove significant subscription growth, with campaigns like the “Andor” season two premiere and Streaming Day boosting sign-ups for over 20 partners. Roku also highlighted its sports offerings, with MLB Sunday Leadoff games on The Roku Channel seeing a 40% increase in average reach, backed by sponsorships from Corona, T-Mobile, and Geico.
Looking ahead, Roku raised its full-year 2025 outlook, projecting Platform revenue of $4.075 billion and Adjusted EBITDA of $355 million, reflecting 16% YoY growth. The company also announced a $400 million stock repurchase program to offset dilution from employee compensation, signaling confidence in its long-term growth strategy. With $2.3 billion in cash and equivalents as of June 30, 2025, Roku is well-positioned to sustain its momentum.
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