All Reports

Our analysis shows that The Roku Channel’s importance in driving video advertising revenue growth will only increase with time as ROKU’s access to third party inventory sources becomes more limited. We also believe that this…

As macro headwinds built throughout last year programmatic connected TV growth rates remained constant in Q3 and Q4 while pressure on the rest of the connected TV advertising spending kept increasing. As a result, connected…

We believe that Q4 results and the guidance for Q1 and full FY23, in line with expectations (equals a raise in this environment for ad tech names), once again highlight the fact that DV offers…

Q4 results ahead of expectations, guidance for Q1 and full FY23 (!) in line with the consensus but light compared to our Street-high forecast. Although not the usual beat-and-raise, we think the stock should get…

We are updating our estimates to reflect Q4 FY22 results. Our Neutral rating and price target of $9 remain unchanged. Q1 FY23: Smart TV shipments of 1.1m, Device segment revenue of $235m and gross profit…

Q4 results in the all important Platform+ segment are below expectations so is the guidance for Q1. One possible explanation for the soft guide is that VZIO is switching to the strategy ROKU deployed in…

We are updating our model to reflect Q4 results and the guidance for Q1. For Q1 FY23, we expect Connected TV revenue of $44m, Desktop revenue of $27m and Mobile revenue of $40m. We expect…

We are updating our model to reflect Q4 results and the guidance for Q1. We are raising our price target to $79 to reflect recent EV/Gross Profit recovery. Our updated estimates are: Q1 FY23: We expect…

As expected, a replay of Q3 with a strong beat and cautions/conservative guidance and commentary on Q1 revenue trends. The shareholder letter calls out an improvement is some advertising verticals so far this year while…

Q1 guidance once again shows that (i) TTD is operating and gaining share in the pocket of the connected TV market that has decoupled from the direct sold ad spend some time ago and continues…

Q4 revenue are softish by TTD standards but guidance for Q4 revenue is much better than we expected and ahead of the consensus. Most likely explanation, in our view, is strength in connected TV as…

Going into Q4 earnings we argued that If the report confirms that the management’s comments on Q3 were correct and there is no further deterioration in Software Platform top line trends, a new bull case,…

We see the results, guidance for Q1 and the commentary (no further deterioration in the mobile app market) in the letter to shareholders as positive for the stock. We believe that for a new bull…

This would have been a usual RAMP quarter with in line results followed by in line guidance for the next quarter if not for the cautious commentary on the likely revenue trajectory in FY24. In…

Q4 Adjusted Oibda slightly ahead, guidance for Q1 in line when adjusted for the timing of the event in Saudi Arabia, guidance for the full FY23 better than our model by 3% at mid point….