All Reports

In our view, the current narrative about potential impact from Google’s algorithm changes overshadows important developments which support the bull case. Our Buy thesis is predicated on our belief that (i) RDDT is early in…

We are updating our model to reflect Q1 results and the sale of the Apps business. Our updated estimates are: Q2 FY25: We expect total company revenue of $1,205m and Adjusted Ebitda of $976m. We…

We are updating our model following Q4 FY25 report. We maintain our Neutral rating and adjust our price target to $34 to reflect the updated estimates and the prevailing valuation multiple. Q1 FY26: We expect subscription…

We believe that Roku’s updated guidance for the Platform segment’s gross margin in FY25 has positive implications for the revenue trajectory this year. Our analysis, detailed below, suggests that the change came as a result…

Our Q2 FY25 estimates are: 12,048K digital-only subs at quarter end Digital-only subscription revenue of $351m Total subscription revenue of $481m Total advertising revenue of $122m Total revenue to $673m Adjusted Operating Profit of $122m…

We are updating our estimates to reflect Q1 results and the latest guidance for FY25. We now expect the following results: FY25: We are modeling $242m in Measurement revenue, $415m in Activation and $69m in Supply-side…

We are updating our estimates following Q1 report. We are now modeling Q2 revenue of $682m, Adjusted Ebitda of $259m and adjusted diluted EPS of$0.42. We expect FY25 revenue of $2,821m, Adjusted Ebitda of $1,113m…

A bigger than usual beat with an in-line guidance is the new normal. The stock probably wouldn’t get credit for a more aggressive outlook this earnings season. We think at this point the macro uncertainty…

We are updating our estimates following Q1 FY25 report. For Q2 FY25, we expect Connected TV revenue of $72m, Desktop revenue of $27m and Mobile revenue of $61m. We expect total revenue of $160m, Adjusted…

We are updating our model to reflect Q1 results. Our price target and rating remain unchanged. We now expect the following results: Q2 FY25: We are modeling Create Solutions revenue of $143m, Grow Solutions revenue of…

Another clean beat and raise. Quarters like this are ultimately the best defense against what we think will prove to be noise. The new format of earnings materials provide only financial information. We look forward…

Q1 results ahead of expectations due to smaller than anticipated Q/Q revenue decline in Grow Solutions. The press release calls out “earlier than expected rollout of Unity Vector”. Estimates for FY25 were reset lower after…

Digital-only subscribers were ahead of expectations, with ARPU in line. The stock often trades based on digital advertising results and guidance, both of which surpassed our expectations this quarter, likely supporting the stock’s performance today….

We are updating our model following Q1 FY25 report. Our price target and rating remain unchanged. We currently expect RDDT to report the following results: Q2 FY25: Average Daily Uniques (DAUq) of 108m; $387m in advertising…

We are updating our estimates following Q1 FY25 report. Our rating and price target remain unchanged. Q2 FY25 We expect Platform revenue of $941m and gross profit of $479m, Devices revenue of $130m and gross profit…