Roku reported total net revenue of $1.2 billion in its fourth quarter, above its prior guidance of $1.140 billion.

This also marks the first quarter the streaming platform reported more than $1 billion in platform revenue. Roku reported gross profit of $512.6 million, above its guidance of $465 million, and a net loss of $35.5 million.

In the fourth quarter, streaming hours on The Roku Channel were up 82 percent year-over-year. In the U.S., the channel reached households with approximately 145 million people. In the quarter, Roku noted that advertising activities grew faster than platform revenue and outperformed the overall ad market.

Full year 2024 net revenue was $4.1 billion, up 18 percent year-over-year. For the full year, Roku reached the number of streaming households hit 89.8 million, a net increase of 9.8 million from 2023. There were 4.3 million net adds in the fourth quarter.

“We were very pleased with the Q4 results. It was an outstanding quarter. I feel like we’re continuing to execute well.