Roku, Inc.


February 17, 2023

Model update

By Vasily Karasyov

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…

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February 15, 2023

FIRST LOOK

By Vasily Karasyov

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…

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February 7, 2023

Solid quarters and cautious outlook will remain the pattern for now

By Vasily Karasyov

We expect Q4 report to be similar to what we saw in Q3. In our view, ROKU is likely to post Platform revenue and gross profit in line or slightly ahead of expectations and will…

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December 7, 2022

Bulls and bears got M&E revenue wrong; reasons and implications for the future

By Vasily Karasyov

Media & Entertainment (M&E) revenue surprised both to the upside and downside in the last two years. In this note we argue that going forward, this revenue stream is likely to see a normalized rate…

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November 2, 2022

FIRST LOOK

By Vasily Karasyov

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October 21, 2022

A couple of thoughts ahead of Q3 report

By Vasily Karasyov

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July 28, 2022

FIRST LOOK

By Vasily Karasyov

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April 29, 2022

The first small step in the right direction

By Vasily Karasyov

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April 28, 2022

FIRST LOOK

By Vasily Karasyov

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February 20, 2022

This time, its serious

By Vasily Karasyov

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February 17, 2022

FIRST LOOK

By Vasily Karasyov

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