New York, February 13, 2026, 05:24 ET — Premarket
- Roku shares jumped around 13% in premarket trade following the company’s latest quarterly numbers and its 2026 forecast.
- The company is projecting 2026 revenue ahead of what Wall Street had penciled in, citing platform growth as the driver.
- Traders are sizing up ad-market demand while also watching whether Roku can keep profit and cash flow growing.
Roku jumped roughly 13% to $93.34 ahead of the bell Friday, buoyed by an unexpected profit and a 2026 forecast that beat analysts’ estimates. Shares had ended Thursday’s session off 5.9% at $82.93. (Barron’s)
Roku’s early surge stands out, given its reputation as a clear barometer for connected-TV advertising—those ads running on internet-enabled TVs. The market’s been eager for any hint that ad spending is leveling off. On top of that, investors want more than just rising viewing hours; they’re pressuring Roku to turn its platform’s reach into dependable profits.
Roku late Thursday projected 2026 revenue at $5.50 billion, beating the analyst consensus of $5.34 billion. The company also sees platform revenue rising 18% to $4.89 billion. “Roku’s relentless focus on the underlying platform is reaping fruits and turning scale into a repeatable monetisation engine,” PP Foresight analyst Paolo Pescatore noted. CEO Anthony Wood told analysts Roku was “on track to surpass 100 million streaming households this year.” Shares jumped 12% in after-hours trading following the announcement. (Reuters)
Roku posted a net profit of $80.5 million for the December quarter, reversing its previous losses as total net revenue climbed 16% to $1.395 billion. Its platform segment — which covers ads and content distribution — brought in $1.224 billion, an 18% jump, according to the company’s shareholder letter filed with the SEC. Looking ahead to 2026, Roku is projecting net income of $325 million and expects adjusted EBITDA to hit $635 million. The company also said it bought back $150 million worth of shares through its buyback program. Adjusted EBITDA excludes interest, taxes, and certain non-cash charges. (SEC)
Investors focus on Roku’s platform segment—this is where the company pulls in ad dollars and nabs a share of subscriptions or transactions running through its interface. Devices? They’re still key for audience growth, but that side is also exposed to higher costs and heavy promotions.
On the earnings call, CFO Dan Jedda noted Roku put its “strong free cash flow” to work by repurchasing $150 million in stock. He added that cash generation should continue to outpace adjusted EBITDA, describing the business as “CapEx light”—Roku doesn’t funnel much into factories or equipment. Jedda told analysts there’s “a path to over $1 billion in free cash flow by the end of 2028, if not sooner.” When asked about Walmart’s push toward Vizio’s operating system for its private-label TVs, Wood said Roku is expanding distribution, citing gains at Best Buy, Target, and a bigger footprint at Amazon.
Still, Roku’s platform side depends on advertising budgets—a line item that can shrink fast if the economy sours or marketers get cautious. Lose ground with major retailers or TV makers on operating-system placement, and growth in new households joining the platform could take a hit.
Investors are keeping an eye on Roku’s strategy—specifically, how it handles growth versus spending on its home screen and advertising products, and if margins can keep heading in the right direction with competition heating up in streaming and TV operating systems. Amazon and Alphabet are building out their own TV and ad platforms, and major streaming services continue to roll out more ad-supported offerings.
Everything hits the tape at 9:30 a.m. ET: investors will find out how Roku’s guidance plays in regular hours—and if that earnings surge hangs on.
