ROKU INC
For the period ended Mar 31, 2025. Filed May 2, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2025 · Filed May 2, 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.
Intangible Assets
The following tables summarize the Company’s intangible assets for the periods presented (in thousands, except years):
| As of March 31, 2025 | ||||
|---|---|---|---|---|
| Gross Carrying Amount | Accumulated Amortization | Net Carrying Amount | Weighted-Average Useful Lives(in years) | |
| Developed technology | $73,367 | $(63,848) | $9,519 | 5.9 |
| Customer relationships | 14,100 | (14,100) | — | 4.0 |
| Tradename | 20,400 | (8,466) | 11,934 | 9.8 |
| Patents | 4,076 | (1,553) | 2,523 | 14.0 |
| Total Intangible assets | $111,943 | $(87,967) | $23,976 | 6.7 |
| As of December 31, 2024 | ||||
|---|---|---|---|---|
| Gross Carrying Amount | AccumulatedAmortization | Net Carrying Amount | 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 |
Amortization expense related to intangible assets was approximately $3.5 million and $3.7 million for the three months ended March 31, 2025 and 2024, respectively. The Company recorded amortization of developed technology in Cost of revenue, platform, amortization of customer relationships and tradename in Sales and marketing expenses, and amortization of patents in General and administrative expenses in the condensed consolidated statements of operations for all periods presented.
As of March 31, 2025, 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 (remaining 9 months) | $9,008 |
| 2026 | 4,074 |
| 2027 | 2,737 |
| 2028 | 2,291 |
| 2029 | 2,291 |
| Thereafter | 3,575 |
| Total | $23,976 |
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