Strong Year-Over-Year Growth Across Core
Financial and Operating Metrics; Including Revenue, Bookings1,
DAUs, and Hours Engaged
Roblox Corporation (NYSE: RBLX), a global platform bringing
millions of people together through shared experiences, released
its fourth quarter and full year 2024 financial and operational
results and issued its first quarter and full year 2025 guidance
today. Separately, Roblox posted a letter to shareholders and
supplemental materials on the Roblox investor relations website at
ir.roblox.com.
Fourth Quarter 2024 Financial, Operational, and Liquidity
Highlights
- Revenue was $988.2 million, up 32% year-over-year.
- Bookings1 were $1,361.6 million, up 21% year-over-year.
- Net loss attributable to common stockholders was $219.6
million, while consolidated net loss was $221.1 million.
- Adjusted EBITDA1 was $65.6 million, which excludes adjustments
for increases in deferred revenue and deferred cost of revenue of
$381.8 million and $(65.2) million, respectively, or a total change
in deferrals of $316.5 million.
- Net cash and cash equivalents provided by operating activities
was $184.5 million, up 29% year-over-year, while free cash flow was
$120.6 million, up 54% year-over-year.
- Average Daily Active Users (“DAUs”) were 85.3 million, up 19%
year-over-year.
- Average monthly unique payers were 18.9 million, up 19%
year-over-year, and average bookings per monthly unique payer was
$23.97, up 1% year-over-year.
- Hours engaged were 18.7 billion, up 21% year-over-year.
- Average bookings per DAU was $15.97, up 1% year-over-year.
- Cash and cash equivalents, short-term investments, and
long-term investments totaled $4.0 billion; net liquidity2 was $3.0
billion.
Full Year 2024 Financial, Operational, and Liquidity
Highlights
- Revenue was $3,602.0 million, up 29% year-over-year.
- Bookings1 were $4,369.1 million, up 24% year-over-year.
- Net loss attributable to common stockholders was $935.4
million, while consolidated net loss was $940.6 million.
- Adjusted EBITDA1 was $180.2 million, which excludes adjustments
for increases in deferred revenue and deferred cost of revenue of
$792.4 million and $(164.9) million, respectively, or a total
change in deferrals of $627.5 million.
- Net cash and cash equivalents provided by operating activities
was $822.3 million, up 79% year-over-year, while free cash flow was
$641.3 million, up 417% year-over-year.
- Average DAUs were 82.9 million, up 21% year-over-year.
- Hours engaged were 73.5 billion, up 23% year-over-year.
“Roblox had a strong 2024, driven by our commitment to
innovation and community. We’re building a platform that goes
beyond technology—it’s about fostering genuine connections. As we
aim to support 10% of the global gaming content market, we’ll
continue investing in our virtual economy, app performance, and
AI-powered discovery and safety, empowering creators and enhancing
the user experience,” said David Baszucki, founder and CEO of
Roblox.
“We are pleased that we delivered Q4 2024 results at or above
the guidance we provided on our Q3 2024 earnings call. In Q4, we
also continued to exceed the long term financial goals we
communicated at our investor day in November 2023. For FY 2024,
revenue and bookings grew by 29% and 24%, respectively,
year-over-year; margins improved by over 620 bps; and cash flow
from operations grew by 79% to $822.3 million from $458.2 million
in FY 2023 and free cash flow increased by 417% to $641.3 million,
demonstrating the operating leverage in our business model,” said
Michael Guthrie, chief financial officer of Roblox.
1 Bookings, Adjusted EBITDA, and free cash flow are non-GAAP
financial measures that we believe are useful in evaluating our
performance and are presented for supplemental information purposes
only and should not be considered in isolation from, or as a
substitute for, financial information presented in accordance with
GAAP. For further information, please refer to definitions and
reconciliations provided below and in our annual and quarterly SEC
filings.
2 Net liquidity represents cash and cash equivalents, short-term
investments, and long-term investments, less long-term debt,
net.
Forward Looking Guidance
Roblox provides its first quarter and full year 2025 GAAP and
non-GAAP guidance:
First Quarter 2025 Guidance
- Revenue between $990 million and $1,015 million. Our revenue
guidance assumes that there are no material changes in estimates
used in our revenue recognition, such as the estimated average
lifetime of a paying user.
- Bookings between $1,125 million and $1,150 million.
- Consolidated net loss between $(287) million and $(267)
million.
- Adjusted EBITDA between $20 million and $40 million, which
excludes adjustments for:
- Increase in deferred revenue of $140 million.
- Increase in deferred cost of revenue of $(20) million.
- The total of these changes in deferrals of $120 million.
- Net cash and cash equivalents provided by operating activities
between $360 million and $380 million.
- Capital expenditures of $(20) million.
- Free cash flow between $340 million and $360 million.
Full Year 2025 Guidance
- Revenue between $4,245 million and $4,345 million. Our revenue
guidance assumes that there are no material changes in estimates
used in our revenue recognition, such as the estimated average
lifetime of a paying user.
- Bookings between $5,200 million and $5,300 million.
- Consolidated net loss between $(1,070) million and $(995)
million.
- Adjusted EBITDA between $190 million and $265 million, which
excludes adjustments for:
- Increase in deferred revenue of $975 million.
- Increase in deferred cost of revenue of $(150) million.
- The total of these changes in deferrals of $825 million.
- Net cash and cash equivalents provided by operating activities
between $1,050 million and $1,110 million.
- Capital expenditures of $(250) million.
- Free cash flow between $800 million and $860 million.
Earnings Q&A Session
Roblox will host a live Q&A session to answer questions
regarding its fourth quarter and full year 2024 results on
Thursday, February 6, 2025 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 vision to reach 10% of the global gaming content market,
our efforts to improve the Roblox Platform, our investments to
pursue the highest standards of trust and safety on our platform,
our immersive advertising efforts, including our ads manager and
independent measurement partnerships, our efforts to provide a safe
online environment for children, our efforts regarding content
curation, and live operations, our efforts regarding real world
commerce, the use of AI on our platform, our economy and product
efforts related to creator earnings and platform monetization, our
sponsored experiences, branding and new partnerships and our
roadmap with respect to each, 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, margin, free cash flow,
operating expenses and capital expenditures, our expectation of
successfully executing such strategies and plans, disclosures
regarding the seasonality of our business and future growth rates,
benefits from agreements with third-party cloud providers,
disclosures about our infrastructure efficiency initiatives,
changes to our estimated average lifetime of a paying user and the
resulting effect on revenue, cost of revenue, deferred revenue and
deferred cost of revenue, our expectations of future net losses and
net cash and cash equivalents provided by operating activities,
statements by our Chief Executive Officer and Chief Financial
Officer, and our outlook and guidance for the first quarter and
full year 2025, 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.
Special Note Regarding Operating Metrics
Additional information regarding our core financial and
operating metrics disclosed above 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. We encourage
investors and others to review these reports in their entirety.
ROBLOX CORPORATION CONDENSED
CONSOLIDATED BALANCE SHEETS (in thousands, except par
values) (unaudited)
As of December 31,
2024
2023
Assets
Current assets:
Cash and cash equivalents
$
711,683
$
678,466
Short-term investments
1,697,862
1,514,808
Accounts receivable—net of allowances
614,838
505,769
Prepaid expenses and other current
assets
75,415
74,549
Deferred cost of revenue, current
portion
628,232
501,821
Total current assets
3,728,030
3,275,413
Long-term investments
1,610,215
1,043,399
Property and equipment—net
659,589
695,360
Operating lease right-of-use assets
665,885
665,107
Deferred cost of revenue, long-term
321,824
283,326
Intangible assets, net
34,153
53,060
Goodwill
141,688
142,129
Other assets
13,619
10,284
Total assets
$
7,175,003
$
6,168,078
Liabilities and Stockholders’ equity
Current liabilities:
Accounts payable
$
42,885
$
60,087
Accrued expenses and other current
liabilities
275,754
271,121
Developer exchange liability
339,600
314,866
Deferred revenue—current portion
3,004,969
2,406,292
Total current liabilities
3,663,208
3,052,366
Deferred revenue—net of current
portion
1,567,007
1,373,250
Operating lease liabilities
670,051
646,506
Long-term debt, net
1,006,371
1,005,000
Other long-term liabilities
59,712
22,330
Total liabilities
6,966,349
6,099,452
Stockholders’ equity
Common stock, $0.0001 par value; 5,000,000
authorized as of December 31, 2024 and December 31, 2023, 666,419
and 631,221 shares issued and outstanding as of December 31, 2024
and December 31, 2023, respectively; Class A common stock—4,935,000
shares authorized as of December 31, 2024 and December 31, 2023,
618,116 and 581,135 shares issued and outstanding as of December
31, 2024 and December 31, 2023, respectively; Class B common
stock—65,000 shares authorized as of December 31, 2024 and December
31, 2023, 48,303 and 50,086 shares issued and outstanding as of
December 31, 2024 and December 31, 2023, respectively
62
61
Additional paid-in capital
4,220,916
3,134,946
Accumulated other comprehensive
income/(loss)
(3,895
)
1,536
Accumulated deficit
(3,995,637
)
(3,060,253
)
Total Roblox Corporation Stockholders’
equity
221,446
76,290
Noncontrolling interest
(12,792
)
(7,664
)
Total Stockholders’ equity
208,654
68,626
Total Liabilities and Stockholders’
equity
$
7,175,003
$
6,168,078
ROBLOX CORPORATION CONDENSED
CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except
per share amounts) (unaudited)
Three Months Ended
Twelve Months Ended
December 31,
December 31,
2024
2023
2024
2023
Revenue(1)
$
988,183
$
749,939
$
3,601,979
$
2,799,274
Cost and expenses:
Cost of revenue(1)(2)
218,741
171,664
801,162
649,115
Developer exchange fees
280,610
221,750
922,821
740,752
Infrastructure and trust & safety
222,822
223,310
915,418
878,361
Research and development
355,034
341,129
1,444,207
1,253,598
General and administrative
105,323
98,776
407,507
390,055
Sales and marketing
49,765
48,503
174,181
146,460
Total cost and expenses
1,232,295
1,105,132
4,665,296
4,058,341
Loss from operations
(244,112
)
(355,193
)
(1,063,317
)
(1,259,067
)
Interest income
46,260
39,530
179,531
141,818
Interest expense
(10,331
)
(10,298
)
(41,184
)
(40,707
)
Other income/(expense), net
(10,221
)
898
(11,530
)
(527
)
Loss before income taxes
(218,404
)
(325,063
)
(936,500
)
(1,158,483
)
Provision for/(benefit from) income
taxes
2,648
277
4,114
454
Consolidated net loss
(221,052
)
(325,340
)
(940,614
)
(1,158,937
)
Net loss attributable to noncontrolling
interest
(1,479
)
(1,642
)
(5,230
)
(6,991
)
Net loss attributable to common
stockholders
$
(219,573
)
$
(323,698
)
$
(935,384
)
$
(1,151,946
)
Net loss per share attributable to common
stockholders, basic and diluted
$
(0.33
)
$
(0.52
)
$
(1.44
)
$
(1.87
)
Weighted-average shares used in computing
net loss per share attributable to common stockholders—basic and
diluted
660,900
626,817
647,482
616,445
- Beginning April 1, 2024, the estimated average lifetime of a
paying user changed from 28 months to 27 months. Based on the
carrying amount of deferred revenue and deferred cost of revenue as
of March 31, 2024, the change resulted in an increase in revenue
and cost of revenue during the three months ended December 31, 2024
of $12.7 million and $2.6 million, respectively, and $98.0 million
and $20.4 million, respectively, during the twelve months ended
December 31, 2024. Refer to “Basis of Presentation and Summary of
Significant Accounting Policies — Revenue Recognition” as described
in the Company’s consolidated financial statements and related
notes included in the Company’s Annual Report on Form 10-K for
further background on the Company’s process to estimate the average
lifetime of a paying user.
- 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,
2024
2023
2024
2023
Cash flows from operating
activities:
Consolidated net loss
$
(221,052
)
$
(325,340
)
$
(940,614
)
$
(1,158,937
)
Adjustments to reconcile net loss
including noncontrolling interest to net cash and cash equivalents
provided by operations:
Depreciation and amortization expense
51,311
54,531
226,437
208,142
Stock-based compensation expense
258,236
250,679
1,015,794
867,967
Operating lease non-cash expense
29,527
26,262
118,119
97,063
(Accretion)/amortization on marketable
securities, net
(22,393
)
(20,943
)
(82,835
)
(73,162
)
Amortization of debt issuance costs
348
334
1,371
1,316
Impairment expense, (gain)/loss on
investment and other asset sales, and other, net
722
1,222
3,072
8,969
Changes in operating assets and
liabilities, net of effect of acquisitions:
Accounts receivable
(229,939
)
(219,346
)
(110,479
)
(126,172
)
Prepaid expenses and other current
assets
(6,480
)
(10,909
)
(3,140
)
(12,770
)
Deferred cost of revenue
(66,206
)
(77,805
)
(165,697
)
(139,879
)
Other assets
1,546
228
(3,376
)
(5,961
)
Accounts payable
(3,123
)
(7,330
)
(7,527
)
(3,475
)
Accrued expenses and other current
liabilities
12,573
11,279
(2,705
)
8,680
Developer exchange liability
9,329
75,438
24,734
83,162
Deferred revenue
385,613
382,196
795,422
742,294
Operating lease liabilities
(22,807
)
(3,617
)
(77,428
)
(50,454
)
Other long-term liabilities
7,286
6,426
31,168
11,397
Net cash and cash equivalents provided by
operating activities
184,491
143,305
822,316
458,180
Cash flows from investing
activities:
Acquisition of property and equipment
(63,860
)
(65,197
)
(179,646
)
(320,667
)
Payments related to business combination,
net of cash acquired
—
—
(2,840
)
(3,859
)
Purchases of intangible assets
—
—
(1,370
)
(13,500
)
Purchases of investments
(1,168,353
)
(788,063
)
(4,642,540
)
(4,591,974
)
Maturities of investments
920,200
686,709
3,351,970
1,642,719
Sales of investments
227,501
115,416
622,354
462,182
Net cash and cash equivalents used in
investing activities
(84,512
)
(51,135
)
(852,072
)
(2,825,099
)
Cash flows from financing
activities:
Proceeds from issuance of common stock
13,148
5,910
70,344
53,226
Financing payments related to
acquisitions
—
—
(4,450
)
(750
)
Proceeds from debt issuances
—
—
—
14,700
Net cash and cash equivalents provided by
financing activities
13,148
5,910
65,894
67,176
Effect of exchange rate changes on cash
and cash equivalents
(4,075
)
337
(2,921
)
735
Net increase/(decrease) in cash and cash
equivalents
109,052
98,417
33,217
(2,299,008
)
Cash and cash equivalents
Beginning of period
602,631
580,049
678,466
2,977,474
End of period
$
711,683
$
678,466
$
711,683
$
678,466
Non-GAAP Financial Measures
This press release and the accompanying tables contain the
non-GAAP financial measure bookings, Adjusted EBITDA, and free cash
flow.
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. 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. 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. Free cash
flow represents the net cash and cash equivalents 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.
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.
GAAP to Non-GAAP Financial Measures Reconciliations
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, unaudited):
Three Months Ended December
31,
Twelve Months Ended December
31,
2024
2023
2024
2023
Reconciliation of revenue to
bookings:
Revenue
$
988,183
$
749,939
$
3,601,979
$
2,799,274
Add (deduct):
Change in deferred revenue
381,777
382,196
792,434
742,308
Other
(8,319
)
(5,313
)
(25,317
)
(20,802
)
Bookings
$
1,361,641
$
1,126,822
$
4,369,096
$
3,520,780
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, unaudited):
Three Months Ended December
31,
Twelve Months Ended December
31,
2024
2023
2024
2023
Reconciliation of consolidated net loss
to Adjusted EBITDA:
Consolidated net loss
$
(221,052
)
$
(325,340
)
$
(940,614
)
$
(1,158,937
)
Add (deduct):
Interest income
(46,260
)
(39,530
)
(179,531
)
(141,818
)
Interest expense
10,331
10,298
41,184
40,707
Other (income)/expense, net
10,221
(898
)
11,530
527
Provision for/(benefit from) income
taxes
2,648
277
4,114
454
Depreciation and amortization
expense(A)
51,311
54,531
226,437
208,142
Stock-based compensation expense
258,236
250,679
1,015,794
867,967
RTO severance charge(B)
173
5,228
1,274
5,228
Other non-cash charges(C)
—
—
—
6,988
Adjusted EBITDA
$
65,608
$
(44,755
)
$
180,188
$
(170,742
)
(A)
For the twelve months ended December 31,
2024, includes a one-time charge of $17.9 million related to the
re-assessment of the estimated useful life of certain software
licenses, resulting in the acceleration of their remaining
depreciation within infrastructure and trust & safety expenses
in the third quarter of 2024.
(B)
Relates to cash severance costs associated
with the Company’s return-to-office (“RTO”) plan announced in
October 2023, which required 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.
(C)
Includes impairment expenses related to
certain operating lease right-of-use assets and related property
and equipment.
The following table presents a reconciliation of net cash and
cash equivalents 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, unaudited):
Three Months Ended December
31,
Twelve Months Ended December
31,
2024
2023
2024
2023
Reconciliation of net cash and cash
equivalents provided by operating activities to free cash
flow:
Net cash and cash equivalents provided by
operating activities
$
184,491
$
143,305
$
822,316
$
458,180
Deduct:
Acquisition of property and equipment
(63,860
)
(65,197
)
(179,646
)
(320,667
)
Purchase of intangible assets
—
—
(1,370
)
(13,500
)
Free cash flow
$
120,631
$
78,108
$
641,300
$
124,013
Forward Looking Guidance: GAAP to Non-GAAP Financial Measures
Reconciliations
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, 2025
Twelve Months Ended
December 31, 2025
Low
High
Low
High
Reconciliation of revenue to
bookings:
Revenue
$
990,000
$
1,015,000
$
4,245,000
$
4,345,000
Add (deduct):
Change in deferred revenue
140,000
140,000
975,000
975,000
Other
(5,000
)
(5,000
)
(20,000
)
(20,000
)
Bookings
$
1,125,000
$
1,150,000
$
5,200,000
$
5,300,000
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, 2025
Twelve Months Ended
December 31, 2025
Low
High
Low
High
Reconciliation of consolidated net loss
to Adjusted EBITDA:
Consolidated net loss
$
(287,000
)
$
(267,000
)
$
(1,070,000
)
$
(995,000
)
Add (deduct):
Interest income
(40,000
)
(40,000
)
(160,000
)
(160,000
)
Interest expense
11,000
11,000
42,000
42,000
Provision for/(benefit from) income
taxes
1,000
1,000
3,000
3,000
Depreciation and amortization expense
55,000
55,000
225,000
225,000
Stock-based compensation expense
280,000
280,000
1,150,000
1,150,000
Adjusted EBITDA
$
20,000
$
40,000
$
190,000
$
265,000
The following table presents a reconciliation of net cash and
cash equivalents 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):
Guidance
Three Months Ended
March 31, 2025
Twelve Months Ended
December 31, 2025
Low
High
Low
High
Reconciliation of net cash and cash
equivalents provided by operating activities to free cash
flow:
Net cash and cash equivalents provided by
operating activities
$
360,000
$
380,000
$
1,050,000
$
1,110,000
Deduct:
Acquisition of property and equipment
(20,000
)
(20,000
)
(250,000
)
(250,000
)
Free cash flow
$
340,000
$
360,000
$
800,000
$
860,000
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Source: Roblox Corporation
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version on businesswire.com: https://www.businesswire.com/news/home/20250206476916/en/
Stefanie Notaney Roblox Corporate Communications
press@roblox.com
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