Roku Doubling Space, Shares Positive Financials

LOS GATOS, CA -- The mobile society moves ahead with an evolving live streaming company.

Roku is well on its way to delivering more for consumers on the run by expanding its office space by over two-fold. The leading streaming platform entered into an agreement with Cap Phase, LLC to lease 194,549 of space in the Coleman Highline complex in San Jose. That's up from the 97,751 square feet. Currently, Roku rents the building where it leases from Netflix.

The leasing deal launches at a rate of $700,346 per month, with a 3 percent annual adjustment, a U. S. Securities Exchange filing indicates as of Nov. 12.

The company has grown substantially from its early days in which Anthony Wood started the company with modest beginnings in 2002.

A decade later, it announced its aim to support region-specific channels and allow publishers of video, music, games and other Internet-delivered content to reach customers' devices through its venue. Along the way, Roku answered the call to launch the first Netflix streaming player in 2008.

The publicly-traded company presented a pleasing performance for third-quarter results ending in September by reporting revenue grew 39 percent in year-over-year results and gross profit to $173 million. Active accounts have increased 43 percent to 23.8 million at the quarter's end as millions of people decide to unplug from traditional cable and satellite subscribing.

The belief is all television will be streamed, and as a result, advertising will eventually be streamed as well, according to Wood and Chief Financial Officer Steve Louden.