Filing Flows › Roku (ROKU) › Q2 2026 › vs Q2 2025
Roku (ROKU) Q2 2026 vs Q2 2025 (year over year)
Roku's revenue rose $244M (+22%) from $1.1B in Q2 2025 to $1.4B in Q2 2026. The biggest changes: Platform +$245M (+25%); Devices −$1.8M (-1%). Gross margin 49.7% against 44.8% (+4.9 pts).
Roku, Q2 2026: revenue $1.4B (+22% year over year), operating margin 10.8%, net earnings $164M, operating cash flow $285M. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Gross margin | 49.7% | 44.8% | +4.9 pts |
| Operating margin | 10.8% | -2.1% | +12.9 pts |
| Net margin | 12.1% | 0.9% | +11.2 pts |
| Free cash flow margin | 20.7% | 9.8% | +11.0 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Advertising | $673M | $539M | $134M | +25% |
| Subscriptions | $548M | $436M | $112M | +26% |
| Platform | $1.2B | $975M | $245M | +25% |
| Devices | $134M | $136M | −$1.8M | -1% |
| Revenue | $1.4B | $1.1B | $244M | +22% |
| Gross profit | $674M | $498M | $176M | +35% |
| Cost of revenue | $681M | $613M | $67.6M | +11% |
| Other income, net | $23.2M | $28.0M | −$4.8M | -17% |
| Operating profit | $146M | −$23.3M | $170M | — |
| Operating expenses | $528M | $521M | $6.5M | +1% |
| Pre-tax earnings | $169M | $4.7M | $165M | 36× |
| Research & development | $180M | $178M | $1.7M | +0.9% |
| Sales & marketing | $223M | $243M | −$20.0M | -8% |
| General & admin | $125M | $99.7M | $24.9M | +25% |
| Net earnings | $164M | $10.5M | $154M | 16× |
| Income tax | $5.2M | −$5.8M | $11.0M | — |
| Depreciation & amortization | $10.4M | $11.4M | −$1.0M | -9% |
| Share-based compensation | $75.3M | $84.6M | −$9.3M | -11% |
| Working capital & other | $34.7M | $3.2M | $31.5M | +988% |
| Operating cash flow | $285M | $110M | $175M | +159% |
| Free cash flow (OCF − capex) | $281M | $109M | $172M | +159% |
| Capital expenditures | $3.8M | $1.1M | $2.6M | +236% |
Questions
How much did Roku's revenue grow year over year in Q2 2026?
Roku's revenue rose $244M (+22%) from $1.1B in Q2 2025 to $1.4B in Q2 2026.
What drove Roku's revenue change in Q2 2026?
Platform +$245M (+25%); Devices −$1.8M (-1%).