Roku is highlighting its second-quarter earnings with two “significant milestones,” including passing up 30 million active accounts.
The company’s 30.5 million total active accounts are up 39% year over year from the 22 million the company counted during the year-ago quarter.
Roku gave credit to its smart TV OS platform for helping grow the company’s active user base. The company said Roku TV represented more than one in three smart TVs sold in the U.S. during the first half of the year.
Roku has licensing deals in place with several smart TV manufacturers and the company said it recently reached an agreement with Walmart to offer several new Roku devices including audio products to customers under Walmart’s Onn brand. This is in addition to Roku TVs and Roku players already sold through Walmart.
The other milestone Roku mentioned was average revenue per user, which surpassed $20 to reach $21.06. That’s up 27% from $16.60 from one year ago.
Roku’s total net revenue reached $250.1 million, up 59% year over year, driven by continued fast growth for the company’s platform business. Platform business revenue totaled $167.7 million in the second quarter, up 86% from approximately $100 million a year ago. Platform revenue accounted for more than two-thirds of Roku’s quarterly earnings. Player revenue totaled $82.4 million, up 24% from $66.5 million one year ago.
Roku attributed much of its platform revenue growth to advertising as the company’s monetized video ad impressions more than doubled year over year.
Despite the revenue increases, Roku’s operating expenses still outweighed its gross profits, resulting in a $10.4 million loss during the quarter. But adjusted EBITDA totaled $11.1 million.