10/
The market still misprices $ROKU like a hardware company.
But it’s executing like a scaled ad platform with CTV OS dominance.
This valuation gap vs. comps (e.g. $TTD at 9.5x sales) is the opportunity.
Discussion
11/
Framing update:
$ROKU ≠just a streaming device or channel.
It’s a CTV infra + ad-tech + platform monetizer with real optionality.
A “compounder in training” — not a flashy growth story, but a scalable one.
12/
Final thought:
The market’s asking one question —
Can Roku monetize like a platform, not just look like one?
If the answer’s yes, Q1 is a breather.
If not, $ROKU stays in “show-me” mode.