Roku added just 1.1 million new accounts on the quarter as the streaming service was on the wrong end of a slowdown in US consumer spending.
The hardware and streaming company also suffered from ongoing supply chain disruptions that ked to industry wide TV sales falling below the level recorded pre-pandemic in 2019.
Streaming player unit sales remained above 2019 levels but were still down 12% year-over-year.
Despite the challenges, the Roku operating system remained the No.1 selling TV OS in the United States.
Total net revenue grew 28% year-over-year to $734 million.
The company says its expecting the current environment to continue in the near term, putting pressure on player gross margin and industry-wide TV unit sale. However, the company adds these issues are dwarfed by the “secular shift” towards TV streaming and TV OS consolidation.
