Strong year over year growth in Daily Active
Users, Hours Engaged, Revenue, and Bookings
Roblox Corporation (NYSE: RBLX), a global platform bringing
millions of people together through shared experiences, released
its fourth quarter and full year 2023 financial and operational
results and issued its full year and first quarter 2024 guidance
today. Separately, Roblox posted a letter to shareholders and
supplemental materials on the Roblox investor relations website at
ir.roblox.com.
Fourth Quarter 2023 Financial, Operational, and Liquidity
Highlights
- Revenue was $749.9 million, up 30% year-over-year.
- Bookings were $1,126.8 million, up 25% year-over-year.
- Net loss attributable to common stockholders was $323.7
million.
- Net cash provided by operating activities was $143.3 million,
up 20% year-over-year.
- Average Daily Active Users (“DAUs”) were 71.5 million, up 22%
year-over-year.
- Average monthly unique payers were 15.9 million, up 18%
year-over-year, and average bookings per monthly unique payer was
$23.65, up 6% year-over-year.
- Hours engaged were 15.5 billion, up 21% year-over-year.
- Average bookings per DAU was $15.75, up 3% year-over-year.
- Net liquidity1 was $2.2 billion; Covenant Adjusted EBITDA2 was
$259.6 million, up 42% year-over-year.
Full Year 2023 Financial, Operational, and Liquidity
Highlights
- Revenue was $2,799.3 million, up 26% year-over-year.
- Bookings were $3,520.8 million, up 23% year-over-year.
- Net loss attributable to common stockholders was $1,151.9
million.
- Net cash provided by operating activities was $458.2 million,
up 24% year-over-year.
- DAUs were 68.4 million, up 22% year-over-year.
- Average monthly unique payers were 14.5 million, up 17%
year-over-year, and average bookings per monthly unique payer was
$81.05, up 4% year-over-year.
- Hours engaged were 60.0 billion, up 22% year-over-year.
- Average bookings per DAU was $51.50, flat year-over-year.
- Covenant Adjusted EBITDA2 was $431.7 million, up 21%
year-over-year.
“We finished 2023 with another strong quarter of growth as we
continue to drive innovation and new experiences across the Roblox
platform. We enter 2024 with even more conviction of being able to
achieve our long-term goal of attracting over 1 billion daily
active users with optimism and civility. We continue to benefit
from the strong network effects in content, social connection, and
communication, as well as our investments in immersive experiences,
advertising, and AI,” said David Baszucki, founder and CEO of
Roblox.
“We ended the year with our strongest rate of quarterly bookings
growth in two years and delivered our first quarter of $1 billion
in bookings. We are scaling our operations efficiently, thereby
improving our margins and cash flow, and we expect those trends to
continue in 2024,” said Michael Guthrie, chief financial officer of
Roblox.
Forward Looking Guidance
Roblox provides its initial full year and first quarter 2024
GAAP and non-GAAP guidance:
Full Year 2024 Guidance
- Revenue between $3,300 million and $3,400 million.
- Bookings between $4,140 million and $4,280 million.
- Consolidated net loss between $(1,400) million and $(1,365)
million.
- Adjusted EBITDA between $(150) million and $(115) million (A),
which includes:
- Increase in deferred revenue between $852 million and $892
million.
- Increase in deferred cost of revenue between $(172) million and
$(177) million.
- The total of these changes in deferrals between $680 million
and $715 million. (B) (A) + (B) = Covenant Adjusted EBITDA2
First Quarter 2024 Guidance
- Revenue between $755 million and $780 million.
- Bookings between $910 million and $940 million.
- Consolidated net loss between $(347) million and $(342)
million.
- Adjusted EBITDA between $(55) million and $(50) million (A),
which includes:
- Increase in deferred revenue between $158 million and $163
million.
- Increase in deferred cost of revenue between $(33) million and
$(35) million.
- The total of these changes in deferrals between $125 million
and $128 million. (B) (A) + (B) = Covenant Adjusted EBITDA2
(1)
Net liquidity represents cash and cash
equivalents, short-term investments, and long-term investments,
less the carrying value of long-term debt, net.
(2)
Covenant Adjusted EBITDA is used in
certain covenant calculations specified in the indenture governing
our senior notes due 2030 and is not calculated in accordance with
GAAP and may not conform to the calculation of Adjusted EBITDA by
other companies. Covenant Adjusted EBITDA should not be considered
as a substitute for a measure of our financial performance or other
liquidity measures prepared in accordance with GAAP and is also not
indicative of income or loss calculated in accordance with
GAAP.
Earnings Q&A Session
Roblox will host a live Q&A session to answer questions
regarding its fourth quarter and full year 2023 results on
Wednesday, February 7, 2024 at 5:30 a.m. Pacific Time/8:30 a.m.
Eastern Time. The webcast will be open to the public at
ir.roblox.com or by clicking here.
Forward-Looking Statements
This press release contains “forward-looking statements” within
the meaning of the “safe harbor” provisions of the Private
Securities Litigation Reform Act of 1995, including but not limited
to, statements regarding our vision to connect one billion global
DAUs, our efforts to improve the Roblox Platform, our immersive
advertising efforts, the use of artificial intelligence (“AI”) on
our platform, our efforts related to communications products, our
economy and product efforts related to creator earnings tools,
branding and new partnerships, our business, product, strategy and
user growth, our investment strategy, including our opportunities
for and expectations of improvements in financial and operating
metrics, including operating leverage, free cash flow, operating
expenses and capital expenditures, our expectation of successfully
executing such strategies and plans, disclosures and future growth
rates, benefits from agreements with third-party cloud providers,
estimates about our data center capacity, our expectations of
future net losses and net cash provided by operating activities,
statements by our Chief Executive Officer and Chief Financial
Officer, and our outlook and guidance for first quarter and full
year 2024, and future periods. These forward-looking statements are
made as of the date they were first issued and were based on
current plans, expectations, estimates, forecasts, and projections
as well as the beliefs and assumptions of management. Words such as
“expect,” “vision,” “envision,” “evolving,” “drive,” “anticipate,”
“intend,” “maintain,” “should,” “believe,” “continue,” “plan,”
“goal,” “opportunity,” “estimate,” “predict,” “may,” “will,”
“could,” and “would,” and variations of these terms or the negative
of these terms and similar expressions are intended to identify
these forward-looking statements. Forward-looking statements are
subject to a number of risks and uncertainties, many of which
involve factors or circumstances that are beyond our control. Our
actual results could differ materially from those stated or implied
in forward-looking statements due to a number of factors, including
but not limited to risks detailed in our filings with the
Securities and Exchange Commission (the “SEC”), including our
annual reports on Form 10-K, our quarterly reports on Form 10-Q and
other filings and reports we make with the SEC from time to time.
In particular, the following factors, among others, could cause
results to differ materially from those expressed or implied by
such forward-looking statements: our ability to successfully
execute our business and growth strategy; the sufficiency of our
cash and cash equivalents to meet our liquidity needs, including
the repayment of our senior notes; the demand for our platform in
general; our ability to retain and increase our number of users,
developers, and creators; the impact of inflation and global
economic conditions on our operations; the impact of changing legal
and regulatory requirements on our business, including the use of
verified parental consent; our ability to develop enhancements to
our platform, and bring them to market in a timely manner; our
ability to develop and protect our brand and build new
partnerships; any misuse of user data or other undesirable activity
by third parties on our platform; our ability to maintain the
security and availability of our platform; our ability to detect
and minimize unauthorized use of our platform; and the impact of AI
on our platform, users, creators and developers. Additional
information regarding these and other risks and uncertainties that
could cause actual results to differ materially from our
expectations is included in the reports we have filed or will file
with the SEC, including our annual reports on Form 10-K and our
quarterly reports on Form 10-Q.
The forward-looking statements included in this press release
represent our views as of the date of this press release. We
anticipate that subsequent events and developments will cause our
views to change. However, we undertake no intention or obligation
to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise. These
forward-looking statements should not be relied upon as
representing our views as of any date subsequent to the date of
this press release.
ROBLOX CORPORATION CONDENSED
CONSOLIDATED BALANCE SHEETS (in thousands, except par values)
(unaudited)
As of December 31,
2023
2022
Assets
Current assets:
Cash and cash equivalents
$
678,466
$
2,977,474
Short-term investments
1,514,808
—
Accounts receivable—net of allowances
505,769
379,353
Prepaid expenses and other current
assets
74,549
61,641
Deferred cost of revenue, current
portion
501,821
420,136
Total current assets
3,275,413
3,838,604
Long-term investments
1,043,399
—
Property and equipment—net
695,360
592,346
Operating lease right-of-use assets
665,107
526,030
Deferred cost of revenue, long-term
283,326
225,132
Intangible assets, net
53,060
54,717
Goodwill
142,129
134,335
Other assets
10,284
4,323
Total assets
$
6,168,078
$
5,375,487
Liabilities and Stockholders’ equity
Current liabilities:
Accounts payable
$
60,087
$
71,182
Accrued expenses and other current
liabilities
271,121
236,006
Developer exchange liability
314,866
231,704
Deferred revenue—current portion
2,406,292
1,941,943
Total current liabilities
3,052,366
2,480,835
Deferred revenue—net of current
portion
1,373,250
1,095,291
Operating lease liabilities
646,506
494,590
Long-term debt, net
1,005,000
988,984
Other long-term liabilities
22,330
10,752
Total liabilities
6,099,452
5,070,452
Stockholders’ equity
Common stock, $0.0001 par value; 5,000,000
authorized as of December 31, 2023 and December 31, 2022, 631,221
and 604,674 shares issued and outstanding as of December 31, 2023
and December 31, 2022, respectively; Class A common stock—4,935,000
shares authorized as of December 31, 2023 and December 31, 2022,
581,135 and 553,337 shares issued and outstanding as of December
31, 2023 and December 31, 2022, respectively; Class B common
stock—65,000 shares authorized as of December 31, 2023 and December
31, 2022, 50,086 and 51,337 shares issued and outstanding as of
December 31, 2023 and December 31, 2022, respectively
61
59
Additional paid-in capital
3,134,946
2,213,603
Accumulated other comprehensive
income/(loss)
1,536
671
Accumulated deficit
(3,060,253
)
(1,908,307
)
Total Roblox Corporation Stockholders’
equity
76,290
306,026
Noncontrolling interests
(7,664
)
(991
)
Total Stockholders’ equity
68,626
305,035
Total Liabilities and Stockholders’
equity
$
6,168,078
$
5,375,487
ROBLOX CORPORATION CONDENSED
CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except per
share amounts) (unaudited)
Three Months Ended
Twelve Months Ended
December 31,
December 31,
2023
2022
2023
2022
Revenue(1)
$
749,939
$
579,004
$
2,799,274
$
2,225,052
Cost and expenses:
Cost of revenue(1)(2)
171,664
142,432
649,115
547,658
Developer exchange fees
221,750
182,115
740,752
623,855
Infrastructure and trust & safety
223,310
198,505
878,361
689,081
Research and development
341,129
248,407
1,253,598
873,477
General and administrative
98,776
79,704
390,055
297,317
Sales and marketing
48,503
29,740
146,460
117,448
Total cost and expenses
1,105,132
880,903
4,058,341
3,148,836
Loss from operations
(355,193
)
(301,899
)
(1,259,067
)
(923,784
)
Interest income
39,530
21,636
141,818
38,842
Interest expense
(10,298
)
(10,008
)
(40,707
)
(39,903
)
Other income/(expense), net
898
1,988
(527
)
(5,744
)
Loss before income taxes
(325,063
)
(288,283
)
(1,158,483
)
(930,589
)
Provision for/(benefit from) income
taxes
277
3,202
454
3,552
Consolidated net loss
(325,340
)
(291,485
)
(1,158,937
)
(934,141
)
Net loss attributable to noncontrolling
interests
(1,642
)
(1,559
)
(6,991
)
(9,775
)
Net loss attributable to common
stockholders
$
(323,698
)
$
(289,926
)
$
(1,151,946
)
$
(924,366
)
Net loss per share attributable to common
stockholders, basic and diluted
$
(0.52
)
$
(0.48
)
$
(1.87
)
$
(1.55
)
Weighted-average shares used in computing
net loss per share attributable to common stockholders—basic and
diluted
626,817
601,859
616,445
595,559
(1)
In the first quarter of 2022, we updated
our estimated paying user life from 23 months to 25 months, which
was subsequently updated again to 28 months in the third quarter of
2022, where it remained throughout 2023. Based on the carrying
amount of deferred revenue and deferred cost of revenue as of
December 31, 2021, these changes resulted in a $15.2 million and
$344.9 million decrease in revenue during the three and twelve
months ended December 31, 2022, respectively and a $2.9 million and
$79.3 million decrease in cost of revenue during the same period,
respectively.
(2)
Depreciation of servers and infrastructure
equipment included in infrastructure and trust & safety.
ROBLOX CORPORATION CONDENSED
CONSOLIDATED STATEMENTS OF CASH FLOWS (in thousands)
(unaudited)
Three Months Ended December
31,
Twelve Months Ended December
31,
2023
2022
2023
2022
Cash flows from operating
activities:
Consolidated net loss
$
(325,340
)
$
(291,485
)
$
(1,158,937
)
$
(934,141
)
Adjustments to reconcile net loss
including noncontrolling interests to net cash and cash equivalents
provided by operations:
Depreciation and amortization
54,531
42,538
208,142
130,083
Stock-based compensation
expense
250,679
169,456
867,967
589,498
Operating lease non-cash
expense
26,262
19,985
97,063
69,100
(Accretion)/amortization on
marketable securities, net
(20,943
)
—
(73,162
)
—
Amortization of debt issuance
costs
334
321
1,316
1,261
Impairment expense, (gain)/loss
on investment and other asset sales, and other, net
1,222
395
8,969
361
Changes in operating assets and
liabilities, net of effect of acquisitions:
Accounts receivable
(219,346
)
(192,427
)
(126,172
)
(72,479
)
Accounts payable
(7,330
)
18,633
(3,475
)
10,302
Prepaid expenses and other
current assets
(10,909
)
8,835
(12,770
)
(33,769
)
Other assets
228
(1,719
)
(5,961
)
(1,221
)
Developer exchange liability
75,438
63,337
83,162
67,798
Accrued expenses and other
current liabilities
11,279
12,578
8,680
19,560
Other long-term liability
6,426
10,738
11,397
10,159
Operating lease liabilities
(3,617
)
(14,886
)
(50,454
)
(47,875
)
Deferred revenue
382,196
325,450
742,294
662,378
Deferred cost of revenue
(77,805
)
(52,530
)
(139,879
)
(101,719
)
Net cash and cash equivalents
provided by operating activities
143,305
119,219
458,180
369,296
Cash flows from investing
activities:
Acquisition of property and
equipment
(65,197
)
(157,205
)
(320,667
)
(426,163
)
Payments related to business
combination, net of cash acquired
—
(7,223
)
(3,859
)
(13,388
)
Purchases of intangible
assets
—
—
(13,500
)
(1,500
)
Purchases of investments
(788,063
)
—
(4,591,974
)
—
Maturities of investments
686,709
—
1,642,719
—
Sales of investments
115,416
—
462,182
—
Net cash and cash equivalents
used in investing activities
(51,135
)
(164,428
)
(2,825,099
)
(441,051
)
Cash flows from financing
activities:
Proceeds from issuance of common
stock
5,910
3,046
53,226
45,752
Payment of withholding taxes
related to net share settlement of restricted stock units
—
—
—
(150
)
Proceeds from debt issuances
—
—
14,700
—
Payment of debt issuance
costs
—
—
—
(154
)
Payments related to business
combination, after acquisition date
—
—
(750
)
(150
)
Other financing activities
—
(1,236
)
—
(1,656
)
Net cash and cash equivalents
provided by financing activities
5,910
1,810
67,176
43,642
Effect of exchange rate changes
on cash and cash equivalents
337
(634
)
735
1,287
Net increase/(decrease) in cash
and cash equivalents
98,417
(44,033
)
(2,299,008
)
(26,826
)
Cash and cash equivalents
Beginning of period
580,049
3,021,507
2,977,474
3,004,300
End of period
$
678,466
$
2,977,474
$
678,466
$
2,977,474
Non-GAAP Financial Measures
This press release and the accompanying tables contain the
non-GAAP financial measure bookings, the non-GAAP financial measure
free cash flow, and the non-GAAP financial measure Adjusted
EBITDA.
We use this non-GAAP financial information to evaluate our
ongoing operations and for internal planning and forecasting
purposes. We believe that this non-GAAP financial information may
be helpful to investors because it provides consistency and
comparability with past financial performance.
Bookings is defined as revenue plus the change in deferred
revenue during the period and other non-cash adjustments.
Substantially all of our bookings are generated from sales of
virtual currency, which can ultimately be converted to virtual
items on the Roblox Platform. Sales of virtual currency reflected
as bookings include one-time purchases and monthly subscriptions
purchased via payment processors or through prepaid cards. Bookings
also include an insignificant amount from advertising and licensing
arrangements. We believe bookings provide a timelier indication of
trends in our operating results that are not necessarily reflected
in our revenue as a result of the fact that we recognize the
majority of revenue over the estimated average lifetime of a paying
user. The change in deferred revenue constitutes the vast majority
of the reconciling difference from revenue to bookings. By removing
these non-cash adjustments, we are able to measure and monitor our
business performance based on the timing of actual transactions
with our users and the cash that is generated from these
transactions. Free cash flow represents the net cash provided by
operating activities less purchases of property, equipment, and
intangible assets acquired through asset acquisitions. We believe
that free cash flow is a useful indicator of our unit economics and
liquidity that provides information to management and investors
about the amount of cash generated from our core operations that,
after the purchases of property, equipment, and intangible assets
acquired through asset acquisitions, can be used for strategic
initiatives. Adjusted EBITDA represents our GAAP consolidated net
loss, excluding interest income, interest expense, other
income/(expense), provision for/(benefit from) income taxes,
depreciation and amortization expense, stock-based compensation
expense, and certain other nonrecurring adjustments and differs
from Covenant Adjusted EBITDA which is used in certain covenant
calculations specified in the indenture governing our senior notes
due 2030. We believe that, when considered together with reported
GAAP amounts, Adjusted EBITDA is useful to investors and management
in understanding our ongoing operations and ongoing operating
trends. Our definition of Adjusted EBITDA may differ from the
definition used by other companies and therefore comparability may
be limited. Refer to the Liquidity section below for further
discussion on and the calculation of Covenant Adjusted EBITDA.
Non-GAAP financial measures have limitations in their usefulness
to investors because they have no standardized meaning prescribed
by GAAP and are not prepared under any comprehensive set of
accounting rules or principles. In addition, other companies,
including companies in our industry, may calculate similarly titled
non-GAAP financial measures differently or may use other measures
to evaluate their performance, all of which could reduce the
usefulness of our non-GAAP financial information as a tool for
comparison. As a result, our non-GAAP financial information is
presented for supplemental informational purposes only and should
not be considered in isolation from, or as a substitute for
financial information presented in accordance with GAAP.
Reconciliation tables of the most comparable GAAP financial
measure to the non-GAAP financial measure used in this press
release are included below. We encourage investors and others to
review our business, results of operations, and financial
information in their entirety, not to rely on any single financial
measure, and to view these non-GAAP measures in conjunction with
the most directly comparable GAAP financial measures.
Liquidity
Covenant Adjusted EBITDA is used in certain covenant
calculations specified in the indenture governing our senior notes
due 2030 that is not calculated in accordance with GAAP and may not
conform to the calculation of EBITDA or adjusted EBITDA by other
companies. Covenant Adjusted EBITDA should not be considered as a
substitute for net loss as determined in accordance with GAAP and
by other companies. We believe that, when considered together with
reported amounts, Covenant Adjusted EBITDA is useful for our
investors and management for purposes of analyzing our compliance
with certain covenants specified in the indenture governing our
senior notes due 2030 and may influence our ability to issue
additional debt and enter into certain other transactions in the
future. Covenant Adjusted EBITDA should be considered in connection
with our condensed consolidated financial statements and results
presented in accordance with GAAP. Refer to the Liquidity and
Capital Resources of our Annual Report on Form 10-K for the year
ended December 31, 2023 for more information.
GAAP to Non-GAAP Reconciliations and Calculation of Covenant
Adjusted EBITDA
The following table presents a reconciliation of revenue, the
most directly comparable financial measure calculated in accordance
with GAAP, to bookings, for each of the periods presented (in
thousands):
Three Months Ended December
31,
Twelve Months Ended December
31,
2023
2022
2023
2022
Reconciliation of revenue to
bookings:
Revenue
$
749,939
$
579,004
$
2,799,274
$
2,225,052
Add (deduct):
Change in deferred revenue
382,196
325,450
742,308
662,378
Other
(5,313
)
(5,020
)
(20,802
)
(15,172
)
Bookings
$
1,126,822
$
899,434
$
3,520,780
$
2,872,258
The following table presents a reconciliation of net cash
provided by operating activities, the most directly comparable
financial measure calculated in accordance with GAAP, to free cash
flow, for each of the periods presented (in thousands):
Three Months Ended December
31,
Twelve Months Ended December
31,
2023
2022
2023
2022
Reconciliation of net cash provided by
operating activities to free cash flow:
Net cash provided by operating
activities
$
143,305
$
119,219
$
458,180
$
369,296
Deduct:
Acquisition of property and equipment
(65,197
)
(157,205
)
(320,667
)
(426,163
)
Purchases of intangible assets
—
—
(13,500
)
(1,500
)
Free cash flow
$
78,108
$
(37,986
)
$
124,013
$
(58,367
)
The following table presents the calculation of Covenant
Adjusted EBITDA in accordance with the terms of the indenture
governing our senior notes due 2030, for each of the periods
presented:
Three Months Ended December
31,
Twelve Months Ended December
31,
2023
2022
2023
2022
Calculation of Covenant Adjusted
EBITDA:
Consolidated net loss
$
(325,340
)
$
(291,485
)
$
(1,158,937
)
$
(934,141
)
Add (deduct):
Interest income
(39,530
)
(21,636
)
(141,818
)
(38,842
)
Interest expense
10,298
10,008
40,707
39,903
Other (income)/expense, net
(898
)
(1,988
)
527
5,744
Provision for/(benefit from) income
277
3,202
454
3,552
Depreciation and amortization
54,531
42,538
208,142
130,083
Stock-based compensation expense
250,679
169,456
867,967
589,498
RTO severance charge(1)
5,228
—
5,228
—
Other non-cash charges(2)
—
—
6,988
—
Change in deferred revenue
382,196
325,450
742,308
662,378
Change in deferred cost of revenue
(77,805
)
(52,530
)
(139,879
)
(101,719
)
Covenant Adjusted EBITDA
$
259,636
$
183,015
$
431,687
$
356,456
(1)
Relates to cash severance costs associated
with the Company’s return-to-office (“RTO”) plan announced in
October 2023, which requires a subset of the Company’s remote
employees to begin working from the San Mateo headquarters for
three days a week, beginning in the summer of 2024.
(2)
Includes impairment expenses related to
certain operating lease right-of-use assets and related property
and equipment.
Forward Looking Guidance
The following table presents a reconciliation of revenue, the
most directly comparable financial measure calculated in accordance
with GAAP, to bookings, for each of the periods presented (in
thousands):
Guidance
Three Months Ended
March 31, 2024
Twelve Months Ended
December 31, 2024
Low
High
Low
High
Reconciliation of revenue to
bookings:
Revenue
$
755,000
$
780,000
$
3,300,000
$
3,400,000
Add (deduct):
Change in deferred revenue
158,000
163,000
852,000
892,000
Other
(3,000
)
(3,000
)
(12,000
)
(12,000
)
Bookings
$
910,000
$
940,000
$
4,140,000
$
4,280,000
The following table presents a reconciliation of consolidated
net loss, the most directly comparable financial measure calculated
in accordance with GAAP, to Adjusted EBITDA, for each of the
periods presented (in thousands):
Guidance
Three Months Ended
March 31, 2024
Twelve Months Ended
December 31, 2024
Low
High
Low
High
Reconciliation of consolidated net loss
to Adjusted EBITDA:
Consolidated net loss
$
(347,000
)
$
(342,000
)
$
(1,400,000
)
$
(1,365,000
)
Add (deduct):
Interest income
(38,000
)
(38,000
)
(160,000
)
(160,000
)
Interest expense
11,000
11,000
42,000
42,000
Provision for/(benefit from) income
taxes
1,000
1,000
4,000
4,000
Depreciation and amortization
58,000
58,000
224,000
224,000
Stock-based compensation expense
260,000
260,000
1,140,000
1,140,000
Adjusted EBITDA(1)
$
(55,000
)
$
(50,000
)
$
(150,000
)
$
(115,000
)
(1)
Adjusted EBITDA includes the impact from
changes in deferred revenue and deferred cost of revenue; refer to
the Liquidity section above for further discussion on and the
calculation of Covenant Adjusted EBITDA, which is used in certain
covenant calculations specified in the indenture governing our
senior notes due 2030, and excludes the impact from changes in
deferred revenue and deferred cost of revenue.
About Roblox
Roblox is an immersive platform for connection and
communication. Every day, millions of people come to Roblox to
create, play, work, learn, and connect with each other in
experiences built by our global community of creators. Our vision
is to reimagine the way people come together– in a world that is
safe, civil, and optimistic. To achieve this vision, we are
building an innovative company that, together with the Roblox
community, has the ability to strengthen our social fabric and
support economic growth for people around the world. For more about
Roblox, please visit corp.roblox.com.
ROBLOX and the Roblox logo are among the registered and
unregistered trademarks of Roblox Corporation in the United States
and other countries. © 2024 Roblox Corporation. All rights
reserved.
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version on businesswire.com: https://www.businesswire.com/news/home/20240207560797/en/
Stefanie Notaney Roblox Corporate Communications
press@roblox.com
Roblox (NYSE:RBLX)
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