Roku's user base has grown consistently over the past three years

Streaming device company Roku priced its initial public offering at $14 a share yesterday, giving it a valuation of $1.3 billion. By the end of its first day on the market, the stock had surged nearly 70% to close at $23.50.

As we can see in this chart from Statista, the company's active customer base has grown at a steady pace over the past 3.5 years as more and more people "cut the cord." According to a press release, the company had 15 million active monthly accounts as of June 30, 2017, and its users streamed almost 7 billion hours of content in the first half 2017.

Despite its growth and high valuation, Roku lost $24.2 million in the first half of 2017. A majority of its revenues come from sales of its streaming sticks and boxes, but because the hardware business is such a tough market, the company emphasizes the importance of its advertising based platform business. Revenue from the platform accounted for 40% of Roku's total revenues in the first half of 2017, up 26.5% from the same period last year.

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Mike Nudelman/Business Insider