$ROKU
ROKU, INC

2021 Q2 Form 10-Q Financial Statement

#000156459021041648 Filed on August 05, 2021

View on sec.gov

Income Statement

Concept 2021 Q2 2020 Q2 2020 Q1
Revenue $645.1M $356.1M $320.8M
YoY Change 81.18% 42.37% 55.21%
Cost Of Revenue $306.9M $209.2M $179.7M
YoY Change 46.68% 53.95% 69.86%
Gross Profit $338.3M $146.8M $141.1M
YoY Change 130.37% 28.57% 39.85%
Gross Profit Margin 52.43% 41.24% 43.99%
Selling, General & Admin $155.9M $104.7M $108.0M
YoY Change 48.91% 67.25% 93.2%
% of Gross Profit 46.09% 71.3% 76.53%
Research & Development $113.3M $84.40M $88.28M
YoY Change 34.21% 36.14% 58.38%
% of Gross Profit 33.49% 57.48% 62.56%
Depreciation & Amortization $6.100M $5.200M $4.700M
YoY Change 17.31% 92.59% 74.07%
% of Gross Profit 1.8% 3.54% 3.33%
Operating Expenses $269.2M $189.1M $196.3M
YoY Change 42.35% 51.77% 75.82%
Operating Profit $69.08M -$42.26M -$55.17M
YoY Change -263.46% 306.93% 413.64%
Interest Expense -$746.0K -$1.000M -$900.0K
YoY Change -25.4% 66.67% 800.0%
% of Operating Profit -1.08%
Other Income/Expense, Net $774.0K $600.0K $398.0K
YoY Change 29.0% -10.31% -54.2%
Pretax Income $69.86M -$42.70M -$54.77M
YoY Change -263.6% 339.44% 454.83%
Income Tax -$3.600M $500.0K -$155.0K
% Of Pretax Income -5.15%
Net Earnings $73.47M -$43.15M -$54.61M
YoY Change -270.27% 362.32% 461.16%
Net Earnings / Revenue 11.39% -12.12% -17.03%
Basic Earnings Per Share $0.55 -$0.35 -$0.45
Diluted Earnings Per Share $0.52 -$0.35 -$0.45
COMMON SHARES
Basic Shares Outstanding 132.7M shares 122.6M 120.2M
Diluted Shares Outstanding 142.1M shares 122.6M 120.2M

Balance Sheet

Concept 2021 Q2 2020 Q2 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.083B $885.8M $588.3M
YoY Change 135.19% 129.18% 122.93%
Cash & Equivalents $2.083B $885.8M $588.3M
Short-Term Investments
Other Short-Term Assets $42.77M $33.40M $36.20M
YoY Change 28.04% 86.59% -22.15%
Inventory $48.00M $45.00M $43.98M
Prepaid Expenses
Receivables $587.5M $306.7M $295.4M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $2.799B $1.276B $968.6M
YoY Change 119.32% 96.37% 86.13%
LONG-TERM ASSETS
Property, Plant & Equipment $160.5M $152.7M $148.1M
YoY Change 5.1% 215.58% 45.45%
Goodwill $146.8M $73.06M $73.06M
YoY Change 100.91% 5186.4%
Intangibles $72.91M
YoY Change
Long-Term Investments
YoY Change
Other Assets $135.8M $5.100M $5.765M
YoY Change 2563.35% 29.8% 74.7%
Total Long-Term Assets $839.3M $570.1M $573.1M
YoY Change 47.22% 233.64% 432.13%
TOTAL ASSETS
Total Short-Term Assets $2.799B $1.276B $968.6M
Total Long-Term Assets $839.3M $570.1M $573.1M
Total Assets $3.639B $1.846B $1.542B
YoY Change 97.06% 124.94% 145.46%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $279.4M $130.6M $103.4M
YoY Change 113.94% 110.64% 131.78%
Accrued Expenses $423.3M $147.9M $154.3M
YoY Change 186.18% 71.58% 55.39%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $7.377M $4.900M $4.750M
YoY Change 50.55%
Total Short-Term Liabilities $611.3M $412.6M $372.1M
YoY Change 48.17% 73.17% 96.98%
LONG-TERM LIABILITIES
Long-Term Debt $84.93M $92.30M $162.6M
YoY Change -7.99%
Other Long-Term Liabilities $381.3M $325.9M $3.667M
YoY Change 16.98% 13078.33% 18.71%
Total Long-Term Liabilities $466.2M $418.2M $166.3M
YoY Change 11.47% 16810.63% 5283.39%
TOTAL LIABILITIES
Total Short-Term Liabilities $611.3M $412.6M $372.1M
Total Long-Term Liabilities $466.2M $418.2M $166.3M
Total Liabilities $1.078B $830.9M $865.8M
YoY Change 29.68% 130.71% 224.03%
SHAREHOLDERS EQUITY
Retained Earnings -$369.5M
YoY Change
Common Stock $1.045B
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.561B $1.016B $675.9M
YoY Change
Total Liabilities & Shareholders Equity $3.639B $1.846B $1.542B
YoY Change 97.06% 124.94% 145.46%

Cashflow Statement

Concept 2021 Q2 2020 Q2 2020 Q1
OPERATING ACTIVITIES
Net Income $73.47M -$43.15M -$54.61M
YoY Change -270.27% 362.32% 461.16%
Depreciation, Depletion And Amortization $6.100M $5.200M $4.700M
YoY Change 17.31% 92.59% 74.07%
Cash From Operating Activities $48.96M $34.20M $45.94M
YoY Change 43.16% 38.46% -529.19%
INVESTING ACTIVITIES
Capital Expenditures -$10.20M -$18.80M $45.32M
YoY Change -45.76% 3.87% 793.65%
Acquisitions
YoY Change
Other Investing Activities -$33.98M $0.00 $1.100M
YoY Change -100.0% -92.62%
Cash From Investing Activities -$44.18M -$18.80M -$44.26M
YoY Change 134.98% 1075.0% -548.24%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 2.300M 282.2M 70.82M
YoY Change -99.18% 212.17% -34.5%
NET CHANGE
Cash From Operating Activities 48.96M 34.20M 45.94M
Cash From Investing Activities -44.18M -18.80M -44.26M
Cash From Financing Activities 2.300M 282.2M 70.82M
Net Change In Cash 7.084M 297.6M 72.50M
YoY Change -97.62% 162.2% -32.42%
FREE CASH FLOW
Cash From Operating Activities $48.96M $34.20M $45.94M
Capital Expenditures -$10.20M -$18.80M $45.32M
Free Cash Flow $59.16M $53.00M $624.0K
YoY Change 11.62% 23.83% -103.96%

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CY2021Q2 us-gaap Deferred Revenue
DeferredRevenue
71384000
CY2020Q4 us-gaap Deferred Revenue
DeferredRevenue
76748000
CY2021Q2 roku Licensed And Produced Content Assets
LicensedAndProducedContentAssets
113459000
CY2020Q4 roku Licensed And Produced Content Assets
LicensedAndProducedContentAssets
7907000
CY2021Q2 roku Amortization Expense Of Licensed Content Assets
AmortizationExpenseOfLicensedContentAssets
15855000
CY2020Q2 roku Amortization Expense Of Licensed Content Assets
AmortizationExpenseOfLicensedContentAssets
6059000
roku Amortization Expense Of Licensed Content Assets
AmortizationExpenseOfLicensedContentAssets
25471000
roku Amortization Expense Of Licensed Content Assets
AmortizationExpenseOfLicensedContentAssets
12182000
CY2021Q2 roku Amortization Expense Of Produced Content Assets
AmortizationExpenseOfProducedContentAssets
2420000
roku Amortization Expense Of Produced Content Assets
AmortizationExpenseOfProducedContentAssets
2622000
CY2021Q2 roku Amortization Expense Of Content Assets
AmortizationExpenseOfContentAssets
18275000
CY2020Q2 roku Amortization Expense Of Content Assets
AmortizationExpenseOfContentAssets
6059000
roku Amortization Expense Of Content Assets
AmortizationExpenseOfContentAssets
28093000
CY2021Q2 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
41038000
CY2020Q4 us-gaap Restricted Cash Current
RestrictedCashCurrent
434000
CY2021Q2 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
1460000
CY2021Q2 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
2084733000
CY2020Q4 us-gaap Assets Fair Value Disclosure
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1093249000
CY2021Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
11381000
CY2020Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
9691000
us-gaap Operating Lease Cost
OperatingLeaseCost
21647000
us-gaap Operating Lease Cost
OperatingLeaseCost
21908000
CY2021Q2 us-gaap Variable Lease Cost
VariableLeaseCost
4541000
CY2020Q2 us-gaap Variable Lease Cost
VariableLeaseCost
3331000
us-gaap Variable Lease Cost
VariableLeaseCost
7493000
us-gaap Variable Lease Cost
VariableLeaseCost
5529000
CY2021Q2 us-gaap Lease Cost
LeaseCost
15922000
CY2020Q2 us-gaap Lease Cost
LeaseCost
13022000
us-gaap Lease Cost
LeaseCost
29140000
us-gaap Lease Cost
LeaseCost
27437000
us-gaap Sublease Income
SubleaseIncome
200000
CY2021Q2 us-gaap Sublease Income
SubleaseIncome
200000
CY2020Q2 us-gaap Sublease Income
SubleaseIncome
900000
us-gaap Sublease Income
SubleaseIncome
1700000
CY2021Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
11755000
CY2021Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
298949000
CY2021Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
34007000
CY2021Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
336948000
CY2021Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
370955000
CY2021Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0433
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
23604000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
49456000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
53703000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
52637000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
52403000
CY2021Q2 roku Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
241637000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
473440000
CY2021Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
81286000
CY2021Q2 roku Expected Tenant Improvement Allowance
ExpectedTenantImprovementAllowance
21199000
CY2021Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
370955000
CY2021Q2 roku Commitment Relating To Operating Lease That Have Not Yet Commenced
CommitmentRelatingToOperatingLeaseThatHaveNotYetCommenced
4400000
CY2021Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2021Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2020Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2021Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2020Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
roku Number Of Classes Of Common Stock
NumberOfClassesOfCommonStock
2
CY2021Q2 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
43398000
roku Number Of Equity Incentive Plans
NumberOfEquityIncentivePlans
2
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
8733000
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
26.19
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
67000
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
357.60
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
1852000
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
5.55
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
4000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
7.56
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
6944000
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
34.89
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
2946586000
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
5108000
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
10.77
CY2021Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
2290669000
CY2021Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
47600000
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P1Y10M9D
CY2021Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
42546000
CY2020Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
30036000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
83083000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
60441000
CY2021Q2 roku Indemnification Asset Released For Payment Of Portion Of Liabilities Assumed
IndemnificationAssetReleasedForPaymentOfPortionOfLiabilitiesAssumed
66100000
CY2021Q2 roku Indemnification Liability Released For Payment Of Portion Of Liabilities Assumed
IndemnificationLiabilityReleasedForPaymentOfPortionOfLiabilitiesAssumed
66100000
CY2021Q2 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
30800000
CY2020Q4 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
30900000
roku Letters Of Credit Expiration Year
LettersOfCreditExpirationYear
2030
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-4400000
CY2020Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
500000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
300000
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
73467000
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
-43148000
us-gaap Net Income Loss
NetIncomeLoss
149763000
us-gaap Net Income Loss
NetIncomeLoss
-97760000
CY2020Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
122614000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
131198000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
121397000
CY2021Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.55
CY2020Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.35
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.14
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.81
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
132705000
CY2020Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
122614000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
131198000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
121397000
CY2021Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
9417000
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
10036000
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
142122000
CY2020Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
122614000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
141234000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
121397000
CY2021Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.52
CY2020Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.35
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.06
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.81
CY2021Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
125000
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2

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