Roku recently released their earnings with strong year over year streaming and continued growth of ARPU and users. Most growth rates were slightly higher than Q4. Some of the highlights for Q1:
Platform revenue grew 78% year over year (up slightly from 77% last quarter) for the quarter to $134mm.
Streaming hours grew close to 74% year over year (up slightly from 70% last quarter) for the quarter to 8.9 billion hours.
The average revenue per user is now just under $18 with over 27 million active users (40% growth rate year over year for the quarter).
Most impressively, Roku now estimates their software is on 1 in 3 smart TVs sold in the US, this is up from 1 in 4 in previous quarters. Roku is now the #1 smart TV OS.
Other than a slightly slower increase to ARPU, this was a continued vote of confidence for Roku playing a leading role in the switch to on demand streaming.