ROKU INC
For the period ended Dec 31, 2024. Filed Feb 14, 2025.
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FY2024 · Filed Feb 14, 2025
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4. Goodwill and Intangible Assets
- GOODWILL AND INTANGIBLE ASSETS
Goodwill
Goodwill represents the excess of purchase consideration in a business combination over the fair value of tangible and intangible assets acquired net of the liabilities assumed. All goodwill relates to the platform segment. Goodwill is evaluated for impairment annually. No impairment was recognized during the years ended December 31, 2024, 2023, and 2022.
Intangible Assets
The following tables summarize the Company’s intangible assets for the periods presented (in thousands, except years):
| As of December 31, 2024 | ||||
|---|---|---|---|---|
| GrossCarryingAmount | AccumulatedAmortization | NetCarryingAmount | Weighted-Average Useful Lives(in years) | |
| Developed technology | $73,367 | $(60,896) | $12,471 | 5.9 |
| Customer relationships | 14,100 | (14,100) | — | 4.0 |
| Tradename | 20,400 | (7,966) | 12,434 | 9.8 |
| Patents | 4,076 | (1,480) | 2,596 | 14.0 |
| Total Intangible assets | $111,943 | $(84,442) | $27,501 | 6.7 |
| As of December 31, 2023 | ||||
|---|---|---|---|---|
| GrossCarryingAmount | AccumulatedAmortization | NetCarryingAmount | Weighted-Average Useful Lives(in years) | |
| Developed technology | $73,367 | $(49,087) | $24,280 | 5.9 |
| Customer relationships | 14,100 | (13,948) | 152 | 4.0 |
| Tradename | 20,400 | (5,966) | 14,434 | 9.8 |
| Patents | 4,076 | (1,189) | 2,887 | 14.0 |
| Total Intangible assets | $111,943 | $(70,190) | $41,753 | 6.7 |
Amortization expense related to intangible assets was approximately $14.2 million, $17.1 million, and $17.7 million for the years ended December 31, 2024, 2023, and 2022, respectively.
The Company recorded the amortization of developed technology in Cost of revenue, platform for the year ended December 31, 2024. The Company recorded the amortization of developed technology in Cost of revenue, platform and Research and development for the years ended December 31, 2023 and 2022. The Company recorded amortization of customer relationships and tradename in Sales and marketing expenses, and recorded amortization of patents in General and administrative expenses in the consolidated statements of operations.
As of December 31, 2024, the estimated future amortization expense for intangible assets for the next five years and thereafter is as follows (in thousands):
| Year Ending December 31, | |
|---|---|
| 2025 | $12,533 |
| 2026 | 4,074 |
| 2027 | 2,737 |
| 2028 | 2,291 |
| 2029 | 2,291 |
| Thereafter | 3,575 |
| Total | $27,501 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.