ROKU, INC
For the period ended Dec 31, 2025. Filed Feb 13, 2026.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Feb 13, 2026
ROKU$160.52+0.1%Stored close · as of Nov 6, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
| Years Ended December 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Cash flows from operating activities: | |||
| Net income (loss) | $88,361 | $(129,386) | $(709,561) |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | |||
| Depreciation and amortization | 68,904 | 62,714 | 70,447 |
| Stock-based compensation expense | 354,169 | 384,662 | 370,130 |
| Amortization of right-of-use assets | 48,465 | 47,371 | 57,579 |
| Amortization and write-off of content assets | 223,230 | 229,340 | 207,852 |
| Foreign currency remeasurement losses | 1,117 | 6,447 | 1,457 |
| Change in fair value of strategic investment in convertible promissory notes | (2,940) | (1,409) | (4,348) |
| Change in fair value of contingent consideration | 2,301 | — | — |
| Impairment of assets | 2,870 | 29,118 | 269,402 |
| Provision for credit losses | 2,439 | 790 | 1,674 |
| Other items, net | 1,493 | (2,845) | (1,510) |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | (63,464) | 1,893 | (56,937) |
| Inventories | 43,629 | (66,142) | 14,725 |
| Prepaid expenses and other current assets | 2,249 | (11,299) | 15,058 |
| Content assets and liabilities, net | (184,457) | (193,046) | (267,155) |
| Other non-current assets | 7,990 | (11,769) | (592) |
| Accounts payable | (122,503) | (110,678) | 248,175 |
| Accrued liabilities | 87,621 | 38,385 | 57,714 |
| Operating lease liabilities | (80,493) | (63,835) | (27,786) |
| Other long-term liabilities | 7,724 | 3,695 | (1,309) |
| Deferred revenue | (4,987) | 4,039 | 10,841 |
| Net cash provided by operating activities | 483,718 | 218,045 | 255,856 |
| Cash flows from investing activities: | |||
| Purchases of property and equipment | (5,280) | (5,061) | (82,619) |
| Purchase of business, net of cash acquired | (95,090) | — | — |
| Purchases of strategic investments | (7,000) | (20,000) | (10,000) |
| Purchases of short-term investments | (725,000) | — | — |
| Repayments of convertible promissory notes | 50,000 | — | — |
| Net cash used in investing activities | (782,370) | (25,061) | (92,619) |
| Cash flows from financing activities: | |||
| Repayments of borrowings | — | — | (80,000) |
| Issuance costs related to credit agreement | — | (2,227) | — |
| Proceeds from equity issued under incentive plans | 34,734 | 9,380 | 18,757 |
| Taxes paid related to net share settlement of equity awards | (164,850) | (96,356) | — |
| Repurchases of common stock | (149,982) | — | — |
| Net cash used in financing activities | (280,098) | (89,203) | (61,243) |
| Net (decrease) increase in cash, cash equivalents and restricted cash | (578,750) | 103,781 | 101,994 |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | 5,179 | (9,746) | 2,654 |
| Cash, cash equivalents and restricted cash — beginning of period | 2,160,639 | 2,066,604 | 1,961,956 |
| Cash, cash equivalents and restricted cash — end of period | $1,587,068 | $2,160,639 | $2,066,604 |
CONSOLIDATED STATEMENTS OF CASH FLOWS, CONTINUED
| Years Ended December 31, | |||||
|---|---|---|---|---|---|
| 2025 · 2024 · 2023 | |||||
| Cash, cash equivalents and restricted cash at end of period: | |||||
| Cash and cash equivalents | $1,587,068 | $2,160,236 | $2,025,891 | ||
| Restricted cash, current | — | 403 | 40,713 | ||
| Cash, cash equivalents and restricted cash — end of period | $1,587,068 | $2,160,639 | $2,066,604 | ||
| Supplemental disclosures of cash flow information: | |||||
| Cash paid for interest | $1,055 | $460 | $915 | ||
| Income taxes paid (net of refunds)1: | |||||
| Federal | $1,831 | ||||
| State and local | 5,726 | ||||
| Foreign | 6,133 | ||||
| Total | $13,690 | ||||
| Cash paid during the period for income taxes (prior to ASU 2023-09) | $19,406 | $6,632 | |||
| Supplemental disclosures of non-cash investing and financing activities: | |||||
| Non-cash contingent consideration for business combination | $65,815 | $— | $— | ||
| Unpaid portion of property and equipment purchases | $830 | $122 | $429 | ||
1 Individual jurisdictions equaling 5% or more of total income taxes paid (net of refunds) for the year ended December 31, 2025 include federal at $1.8 million, New Jersey at $1.8 million, India at $1.7 million, United Kingdom at $1.1 million, Taiwan at $0.8 million, and Illinois at $0.7 million.
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