The Trust Layer for Market Analysts

Roku's first quarter 2026 results show total net revenue of $1.25 billion, up 22% year-over-year, with platform revenue at $1.13 billion, up 28% year-over-year. Total gross profit was $565 million, up 27% year-over-year, and streaming hours reached 38.7 billion, up 8% year-over-year. The Roku Channel is the second-largest app by engagement in the US, and Roku's operating margin has improved, with free cash flow from operations to sales at 10.2% in 2026, up from -8% in 2016. The company's valuation is considered attractive, with an intrinsic value per share of $138.10, trading at a forward price to free cash flow of 18.34, indicating it is slightly undervalued according to the analysis. Roku also repurchased $250 million worth of shares in the first quarter, demonstrating a commitment to returning value to shareholders.