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Brent Navon

Research Analyst and CFA at Bank of America Corp. /de/

New York, NY, US

Brent Navon is a Research Analyst and CFA at Bank of America Securities, focusing on the communication services sector with a specialization in entertainment and internet content companies. He covers notable firms such as TKO Group Holdings, BuzzFeed, and Spotify, consistently delivering strong performance metrics including a 100% success rate and an average return exceeding 67%, with a TipRanks performance of 90% profitable recommendations and a 38.2% average return per transaction. Navon began his career at Oppenheimer & Co. and Merrill Lynch before joining Bank of America Securities in 2021. He holds a CFA designation, undergraduate degree from the University of Michigan, and is FINRA registered with BOFA Securities.

Brent Navon's questions to ROKU (ROKU) leadership

Question · Q3 2025

Brent Navon inquired about the size and growth rates of third-party DSPs and Roku Ads Manager, and potential offsets or tough comparisons for the 2026 growth opportunity.

Answer

President of Roku Media Charlie Collier explained the strategy of deep integration with all DSPs, including Amazon, to drive efficiency. He noted Ads Manager is early but showing tailwinds, with 90% of Q3 advertisers being new. CFO Dan Jedda clarified Q3 and Q4 growth rates, emphasizing strong performance ex-political and Frndly, and expressed confidence for 2026 due to various initiatives.

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Question · Q1 2025

Brent Navon followed up by asking how much of a buffer Roku's company-specific initiatives provide against potential further deterioration in the macroeconomic environment.

Answer

CFO Dan Jedda explained that the shift from guaranteed to non-guaranteed advertising has favorably driven more volume to Roku. He emphasized that numerous ongoing initiatives in both subscriptions and advertising, including the Frndly acquisition, are expected to help offset potential macro headwinds in the second half of the year. He also highlighted secular tailwinds and Roku's strength in providing ROI and measurement as key advantages.

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