The company also provided their outlook for fiscal 2020, indicating they expect revenues of $1.6 billion for the year representing a 42% increase year over year with adjusted EBITDA breakeven.
The 4.6 million new accounts brought Roku to 36.9 million accounts overall at the close of 2019. Streaming hours meanwhile reached 23.14 billion, from 22.58 billion in Q3 and 17.95 billion year-on-year.
Roku has been a beneficiary of the increased competition in media streaming as it receives a cut of streaming services monthly fees when users signup to a service through the Roku platform. Amazon said last month it had surpassed 40 million active users globally for its streaming device. "This is driving more viewers to spend more time streaming and less time in traditional pay TV, and many consumers are leaving the legacy pay TV ecosystem entirely", Roku noted in its Q4 investor letter (PDF). The adjusted EBITDA went 38 percent lower year-on-year to Dollars 15.1 million, but improved from the loss of 0.4 million in Q3, and the gains booked in the second and first quarters of 11.1 million and 10.0 million, respectively.
The fourth quarter ended with Roku solidifying itself as one of the top-performing companies of 2019, with its share price increasing more than 300% previous year.
Roku Inc. (NASDAQ: ROKU) beat Wall Street's revenue targets and posted a smaller-than-expected loss Thursday after the bell. The company outlines its ongoing investment priorities for 2020, with plans to sink its incremental gross profit back into its OTT advertising platform, the Roku Channel, Roku TV and global growth.
Sales for the online media player company were $411.2 million, topping consensus estimates of $392.6 million. Looking ahead, the company said it will invest its incremental gross profit in 2020 to ensure its strategic advantages for the decade ahead.
Revenues for Q4 passed expectations, jumping nearly 50 percent to Dollars 411.2 million, with platform revenue advancing 71 percent and player revenue climbing 22 percent.
Shares of Roku closed Thursday at $139.93, in a 52-week range of $49.33 to $176.55.