Strong year over year growth in Daily Active Users, Hours Engaged, Revenue, and Bookings

SAN MATEO, Calif–(BUSINESS WIRE)–Roblox Corporation (NYSE: RBLX), a global platform bringing millions of people together through shared experiences, released its third quarter 2023 financial and operational results today. Separately, Roblox posted a letter to shareholders and supplemental materials on the Roblox investor relations website at ir.roblox.com.


Third Quarter 2023 Financial, Operational and Liquidity Highlights

  • Revenue was $713.2 million, up 38% year-over-year.
  • Bookings were $839.5 million, up 20% year-over-year.
  • Net loss attributable to common stockholders was $277.2 million.
  • Net cash provided by operating activities was $112.7 million, up 68% year-over-year.
  • Average Daily Active Users (“DAUs”) were 70.2 million, up 20% year-over-year.
  • Average monthly unique payers were 14.7 million, up 14% year-over-year, and average bookings per monthly unique payer was $19.02, up 5% year-over-year.
  • Hours engaged were 16.0 billion, up 20% year-over-year.
  • Average bookings per DAU was $11.96, flat year-over-year.
  • Net liquidity1 was $2.1 billion, and Covenant Adjusted EBITDA2 was $81.1 million.

“Our strong third quarter results reflect our continued platform innovation and growth across all age groups and geographies. We are executing against our key priorities to enable deeper forms of immersion, communication and Avatar expression on the platform, while investing in artificial intelligence, brands and advertising, to drive future growth,” said David Baszucki, founder and CEO of Roblox.

“We delivered another strong quarter of growth while executing against our financial plan. Bookings growth was particularly strong in western Europe and east Asia. The US and Canada still accounted for the majority of bookings growth in dollar terms among all regions. We also slowed spending growth across most of our major expense categories. As a result, we showed marked improvement in margins compared both to Q2 2023 and Q3 2022,” said Michael Guthrie, chief financial officer of Roblox.

“In addition, we have largely completed our Ashburn, Virginia data center. Capital expenditures in Q3 2023 were $53.2 million, down 60% from $133.4 million in Q3 2022 and down 52% from $110.9 million of capital expenditures in Q2 2023. As a result, free cash flow was $59.5 million in Q3 2023, up from ($67.7) million in Q3 2022 and up from ($95.5) million in Q2 2023. While we continue to invest in innovation, we are now entering a new phase where we can slow the growth in operating expenses and capital expenditures, thereby generating operating leverage and free cash flow,” said Michael Guthrie, chief financial officer of Roblox.

____________________

1 Net liquidity represents cash, cash equivalents, and short-term 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 their third quarter 2023 results on Wednesday, November 8, 2023 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, net cash provided by operating activities, statements by our Chief Executive Officer and Chief Financial Officer, and our expectations on providing guidance in fiscal 2024. 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 the COVID-19 pandemic and the easing of restrictions related to the COVID-19 pandemic; 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; the impact of AI on our platform, users, creators and developers; and the impact of requiring remote employees to relocate to our headquarters in the San Francisco Bay Area. 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

 

September 30, 2023

 

December 31, 2022

Assets

 

 

 

Current assets:

 

 

 

Cash and cash equivalents

$

580,049

 

 

$

2,977,474

 

Short-term investments

 

1,576,293

 

 

 

 

Accounts receivable—net of allowances

 

285,315

 

 

 

379,353

 

Prepaid expenses and other current assets

 

65,004

 

 

 

61,641

 

Deferred cost of revenue, current portion

 

462,795

 

 

 

420,136

 

Total current assets

 

2,969,456

 

 

 

3,838,604

 

Long-term investments

 

959,260

 

 

 

 

Property and equipment—net

 

709,382

 

 

 

592,346

 

Operating lease right-of-use assets

 

662,379

 

 

 

526,030

 

Deferred cost of revenue, long-term

 

244,547

 

 

 

225,132

 

Intangible assets, net

 

56,794

 

 

 

54,717

 

Goodwill

 

141,800

 

 

 

134,335

 

Other assets

 

10,512

 

 

 

4,323

 

Total assets

$

5,754,130

 

 

$

5,375,487

 

Liabilities and Stockholders’ equity

 

 

 

Current liabilities:

 

 

 

Accounts payable

$

86,781

 

 

$

71,182

 

Accrued expenses and other current liabilities

 

260,395

 

 

 

236,006

 

Developer exchange liability

 

239,428

 

 

 

231,704

 

Deferred revenue—current portion

 

2,208,531

 

 

 

1,941,943

 

Total current liabilities

 

2,795,135

 

 

 

2,480,835

 

Deferred revenue—net of current portion

 

1,188,815

 

 

 

1,095,291

 

Operating lease liabilities

 

629,756

 

 

 

494,590

 

Long-term debt, net

 

1,004,666

 

 

 

988,984

 

Other long-term liabilities

 

15,904

 

 

 

10,752

 

Total liabilities

 

5,634,276

 

 

 

5,070,452

 

Stockholders’ equity

 

 

 

Common stock, $0.0001 par value; 5,000,000 authorized as of September 30, 2023 and December 31, 2022, 623,588 and 604,674 shares issued and outstanding as of September 30, 2023 and December 31, 2022, respectively; Class A common stock—4,935,000 shares authorized as of September 30, 2023 and December 31, 2022, 573,502 and 553,337 shares issued and outstanding as of September 30, 2023 and December 31, 2022, respectively; Class B common stock—65,000 shares authorized as of September 30, 2023 and December 31, 2022, 50,086 and 51,337 shares issued and outstanding as of September 30, 2023 and December 31, 2022, respectively

 

60

 

 

 

59

 

Additional paid-in capital

 

2,878,160

 

 

 

2,213,603

 

Accumulated other comprehensive income/(loss)

 

(15,879

)

 

 

671

 

Accumulated deficit

 

(2,736,555

)

 

 

(1,908,307

)

Total Roblox Corporation Stockholders’ equity

 

125,786

 

 

 

306,026

 

Noncontrolling interests

 

(5,932

)

 

 

(991

)

Total Stockholders’ equity

 

119,854

 

 

 

305,035

 

Total Liabilities and Stockholders’ equity

$

5,754,130

 

 

$

5,375,487

 

ROBLOX CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except per share amounts)

(unaudited)

 

 

Three Months Ended

 

Nine Months Ended

 

September 30,

 

September 30,

 

 

2023

 

 

 

2022

 

 

 

2023

 

 

 

2022

 

Revenue(1)

$

713,225

 

 

$

517,707

 

 

$

2,049,335

 

 

$

1,646,048

 

Cost and expenses:

 

 

 

 

 

 

 

Cost of revenue(1)(2)

 

163,581

 

 

 

126,437

 

 

 

477,451

 

 

 

405,226

 

Developer exchange fees

 

170,719

 

 

 

151,470

 

 

 

519,002

 

 

 

441,740

 

Infrastructure and trust & safety

 

218,968

 

 

 

190,986

 

 

 

655,051

 

 

 

490,576

 

Research and development

 

321,613

 

 

 

235,551

 

 

 

912,469

 

 

 

625,070

 

General and administrative

 

97,508

 

 

 

81,165

 

 

 

291,279

 

 

 

217,613

 

Sales and marketing

 

40,874

 

 

 

32,105

 

 

 

97,957

 

 

 

87,708

 

Total cost and expenses

 

1,013,263

 

 

 

817,714

 

 

 

2,953,209

 

 

 

2,267,933

 

Loss from operations

 

(300,038

)

 

 

(300,007

)

 

 

(903,874

)

 

 

(621,885

)

Interest income

 

36,442

 

 

 

12,764

 

 

 

102,288

 

 

 

17,206

 

Interest expense

 

(10,268

)

 

 

(10,005

)

 

 

(30,409

)

 

 

(29,895

)

Other income/(expense), net

 

(4,262

)

 

 

(4,302

)

 

 

(1,425

)

 

 

(7,732

)

Loss before income taxes

 

(278,126

)

 

 

(301,550

)

 

 

(833,420

)

 

 

(642,306

)

Provision for/(benefit from) income taxes

 

682

 

 

 

352

 

 

 

177

 

 

 

350

 

Consolidated net loss

 

(278,808

)

 

 

(301,902

)

 

 

(833,597

)

 

 

(642,656

)

Net loss attributable to noncontrolling interests

 

(1,650

)

 

 

(4,104

)

 

 

(5,349

)

 

 

(8,216

)

Net loss attributable to common stockholders

$

(277,158

)

 

$

(297,798

)

 

$

(828,248

)

 

$

(634,440

)

Net loss per share attributable to common stockholders, basic and diluted

$

(0.45

)

 

$

(0.50

)

 

$

(1.35

)

 

$

(1.07

)

Weighted-average shares used in computing net loss per share attributable to common stockholders—basic and diluted

 

619,350

 

 

 

597,779

 

 

 

612,938

 

 

 

593,452

 

(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 through the third quarter of 2023. Based on the carrying amount of deferred revenue and deferred cost of revenue as of June 30, 2022, the third quarter 2022 change in estimated paying user life resulted in a decrease in revenue of $111.0 million and a decrease in cost of revenue of $25.5 million during the three months ended September 30, 2022.

 

 

 

Based on the carrying amount of deferred revenue and deferred cost of revenue as of December 31, 2021, both changes in estimated paying user lives during 2022 resulted in a decrease in revenue of $329.7 million and a decrease in cost of revenue of $76.4 million during the nine months ended September 30, 2022.

 

 

(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

September 30,

 

Nine Months Ended

September 30,

 

 

2023

 

 

 

2022

 

 

 

2023

 

 

 

2022

 

Cash flows from operating activities:

 

 

 

 

 

 

 

Consolidated net loss

$

(278,808

)

 

$

(301,902

)

 

$

(833,597

)

 

$

(642,656

)

Adjustments to reconcile net loss including noncontrolling interests to net cash and cash equivalents provided by operations:

 

 

 

 

 

 

 

Depreciation and amortization

 

53,600

 

 

 

34,052

 

 

 

153,611

 

 

 

87,545

 

Stock-based compensation expense

 

220,022

 

 

 

161,359

 

 

 

617,288

 

 

 

420,042

 

Operating lease non-cash expense

 

26,048

 

 

 

18,815

 

 

 

70,801

 

 

 

49,115

 

(Accretion)/amortization on marketable securities, net

 

(20,474

)

 

 

 

 

 

(52,219

)

 

 

 

Amortization of debt issuance costs

 

331

 

 

 

318

 

 

 

982

 

 

 

940

 

Impairment expense, (gain)/loss on investment and other asset sales, and other, net

 

1,578

 

 

 

(1,515

)

 

 

7,747

 

 

 

(34

)

Changes in operating assets and liabilities, net of effect of acquisitions:

 

 

 

 

 

 

 

Accounts receivable

 

(29,454

)

 

 

1,630

 

 

 

93,174

 

 

 

119,948

 

Accounts payable

 

2,279

 

 

 

2,304

 

 

 

3,855

 

 

 

(8,331

)

Prepaid expenses and other current assets

 

4,298

 

 

 

(15,681

)

 

 

(1,861

)

 

 

(42,604

)

Other assets

 

502

 

 

 

(266

)

 

 

(6,189

)

 

 

498

 

Developer exchange liability

 

18,880

 

 

 

21,175

 

 

 

7,724

 

 

 

4,461

 

Accrued expenses and other current liabilities

 

19,745

 

 

 

2,642

 

 

 

(2,599

)

 

 

6,982

 

Other long-term liability

 

2,685

 

 

 

 

 

 

4,971

 

 

 

(579

)

Operating lease liabilities

 

(15,994

)

 

 

(11,259

)

 

 

(46,837

)

 

 

(32,989

)

Deferred revenue

 

130,943

 

 

 

187,991

 

 

 

360,098

 

 

 

336,928

 

Deferred cost of revenue

 

(23,477

)

 

 

(32,519

)

 

 

(62,074

)

 

 

(49,189

)

Net cash and cash equivalents provided by operating activities

 

112,704

 

 

 

67,144

 

 

 

314,875

 

 

 

250,077

 

Cash flows from investing activities:

 

 

 

 

 

 

 

Acquisition of property and equipment

 

(53,196

)

 

 

(133,356

)

 

 

(255,470

)

 

 

(268,958

)

Payments related to business combination, net of cash acquired

 

(3,859

)

 

 

 

 

 

(3,859

)

 

 

(6,165

)

Purchases of intangible assets

 

 

 

 

(1,500

)

 

 

(13,500

)

 

 

(1,500

)

Purchases of investments

 

(761,151

)

 

 

 

 

 

(3,803,911

)

 

 

 

Maturities of investments

 

632,000

 

 

 

 

 

 

956,010

 

 

 

 

Sales of investments

 

117,487

 

 

 

 

 

 

346,766

 

 

 

 

Net cash and cash equivalents used in investing activities

 

(68,719

)

 

 

(134,856

)

 

 

(2,773,964

)

 

 

(276,623

)

Cash flows from financing activities:

 

 

 

 

 

 

 

Proceeds from issuance of common stock

 

16,209

 

 

 

12,830

 

 

 

47,316

 

 

 

42,706

 

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

 

 

 

 

(150

)

 

 

(750

)

 

 

(150

)

Payment of term license related obligations

 

 

 

 

 

 

 

 

 

 

(420

)

Net cash and cash equivalents provided by financing activities

 

16,209

 

 

 

12,680

 

 

 

61,266

 

 

 

41,832

 

Effect of exchange rate changes on cash and cash equivalents

 

(409

)

 

 

1,064

 

 

 

398

 

 

 

1,921

 

Net increase/(decrease) in cash and cash equivalents

 

59,785

 

 

 

(53,968

)

 

 

(2,397,425

)

 

 

17,207

 

Cash and cash equivalents

 

 

 

 

 

 

 

Beginning of period

 

520,264

 

 

 

3,075,475

 

 

 

2,977,474

 

 

 

3,004,300

 

End of period

$

580,049

 

 

$

3,021,507

 

 

$

580,049

 

 

$

3,021,507

 

Use of Non-GAAP Financial Measures

This press release and the accompanying tables contain the non-GAAP financial measure bookings and non-GAAP financial measure 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 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.

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.

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 September 30,

 

Nine Months Ended September 30,

 

 

2023

 

 

 

2022

 

 

 

2023

 

 

 

2022

 

 

 

 

 

 

 

 

 

Reconciliation of revenue to bookings:

 

 

 

 

 

 

 

Revenue

$

713,225

 

 

$

517,707

 

 

$

2,049,335

 

 

$

1,646,048

 

Add (deduct):

 

 

 

 

 

 

 

Change in deferred revenue

 

130,957

 

 

 

187,991

 

 

 

360,112

 

 

 

336,928

 

Other

 

(4,729

)

 

 

(3,982

)

 

 

(15,489

)

 

 

(10,152

)

Bookings

$

839,453

 

 

$

701,716

 

 

$

2,393,958

 

 

$

1,972,824

 

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 September 30,

 

Nine Months Ended September 30,

 

 

2023

 

 

 

2022

 

 

 

2023

 

 

 

2022

 

 

 

 

 

 

 

 

 

Reconciliation of net cash provided by operating activities to free cash flow:

 

 

 

 

 

 

 

Net cash provided by operating activities

$

112,704

 

 

$

67,144

 

 

$

314,875

 

 

$

250,077

 

Deduct:

 

 

 

 

 

 

 

Acquisition of property and equipment

 

(53,196

)

 

 

(133,356

)

 

 

(255,470

)

 

 

(268,958

)

Purchases of intangible assets

 

 

 

 

(1,500

)

 

 

(13,500

)

 

 

(1,500

)

Free cash flow

$

59,508

 

 

$

(67,712

)

 

$

45,905

 

 

$

(20,381

)

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 Quarterly Report on Form 10-Q for the quarter ended September 30, 2023 for more information.

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 September 30,

 

Nine Months Ended September 30,

 

 

2023

 

 

 

2022

 

 

 

2023

 

 

 

2022

 

 

 

 

 

 

 

 

 

Calculation of Covenant Adjusted EBITDA:

 

 

 

 

 

 

 

Consolidated net loss

$

(278,808

)

 

$

(301,902

)

 

$

(833,597

)

 

$

(642,656

)

Add (deduct):

 

 

 

 

 

 

 

Interest income

 

(36,442

)

 

 

(12,764

)

 

 

(102,288

)

 

 

(17,206

)

Interest expense

 

10,268

 

 

 

10,005

 

 

 

30,409

 

 

 

29,895

 

Other (income)/expense, net

 

4,262

 

 

 

4,302

 

 

 

1,425

 

 

 

7,732

 

Provision for/(benefit from) income taxes

 

682

 

 

 

352

 

 

 

177

 

 

 

350

 

Depreciation and amortization

 

53,600

 

 

 

34,052

 

 

 

153,611

 

 

 

87,545

 

Stock-based compensation expense

 

220,022

 

 

 

161,359

 

 

 

617,288

 

 

 

420,042

 

Other non-cash charges(1)

 

 

 

 

 

 

 

6,988

 

 

 

 

Change in deferred revenue

 

130,957

 

 

 

187,991

 

 

 

360,112

 

 

 

336,928

 

Change in deferred cost of revenue

 

(23,477

)

 

 

(32,519

)

 

 

(62,074

)

 

 

(49,189

)

Covenant Adjusted EBITDA

$

81,064

 

 

$

50,876

 

 

$

172,051

 

 

$

173,441

 

Contacts

Stefanie Notaney

Roblox Corporate Communications

press@roblox.com

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