Revenue Performance - Revenue for Q2 2024 reached $893.5 million, a 31.3% increase from $680.8 million in Q2 2023[32] - Total revenue for the six months ended June 30, 2024, was $1,694,843 thousand, up from $1,336,110 thousand in the same period of 2023, representing a year-over-year increase of approximately 27%[59] - The company reported total revenue of $893.5 million for the three months ended June 30, 2024, compared to $900 million for the same period in 2023, reflecting a slight decline[151] - Revenue increased by $212.8 million, or 31%, for the three months ended June 30, 2024, compared to the same period in 2023, reaching $893.5 million[198] - Revenue for the six months ended June 30, 2024, increased by $358.7 million, or 27%, totaling $1.694 billion compared to $1.336 billion in 2023[199] Cost and Expenses - Total cost and expenses for Q2 2024 were $1.13 billion, up from $994.8 million in Q2 2023, resulting in a loss from operations of $237.9 million[32] - Cost of revenue increased by $36.5 million, or 23%, for the three months ended June 30, 2024, totaling $198.6 million[200] - For the six months ended June 30, 2024, cost of revenue increased by $63.6 million, or 20%, amounting to $377.4 million[203] - Developer exchange fees rose by $42.4 million, or 26%, for the three months ended June 30, 2024, totaling $208.3 million[204] - Developer exchange fees increased by $62.4 million, or 18%, for the six months ended June 30, 2024, compared to the same period in 2023[205] Net Loss and Financial Position - The net loss attributable to common stockholders for Q2 2024 was $205.9 million, compared to a loss of $282.8 million in Q2 2023[32] - Consolidated net loss for Q2 2024 was $207,195 thousand, a decrease from $284,841 thousand in Q2 2023, representing a 27.3% improvement year-over-year[35] - Total comprehensive loss for Q2 2024 was $207,814 thousand, compared to $298,571 thousand in Q2 2023, indicating a 30.4% reduction[35] - The accumulated deficit as of June 30, 2024, reached $3,536,740 thousand, up from $2,459,397 thousand a year earlier, reflecting ongoing financial challenges[40] - The net loss attributable to common stockholders for the three months ended June 30, 2024, was $205.9 million, or a loss of $0.32 per share[196] User Engagement Metrics - DAUs are tracked as an indicator of audience engagement, with potential inaccuracies due to fraud and unauthorized access[16] - The average daily active users (DAUs) for the three months ended June 30, 2024, was 79.5 million, with only approximately 983,000 being average daily unique paying users, indicating a small portion of users are payers[140] - The average lifetime of a paying user decreased from 28 months in Q1 2024 to 27 months in Q2 2024, affecting revenue recognition[20] - The average new monthly unique payers were 11.9, showing a consistent influx of new users to the platform[162] - Average Returning Monthly Unique Payers reached 18 in the latest reporting period, indicating a steady growth in user engagement[162] Stock-Based Compensation - Stock-based compensation expense for Q2 2024 was $251,891 thousand, compared to $212,362 thousand in Q2 2023, marking an increase of 18.6%[40] - Total stock-based compensation expense for the three months ended June 30, 2024, was $251.9 million, compared to $212.4 million for the same period in 2023, reflecting a year-over-year increase of 18.6%[197] - The Company had 35,718 thousand stock options outstanding as of June 30, 2024, down from 40,159 thousand as of December 31, 2023[101] - The Company granted 10,606 thousand RSUs during the six months ended June 30, 2024, with an average fair value grant date of $39.05[102] - The total subsequent stock-based compensation expense to be recognized as of the Modification Date was $84.4 million, with 75% allocated to the 2024 CEO PSU Award and 25% to RSUs[105] Cash Flow and Liquidity - Cash flows from operating activities provided $390,395 thousand for the six months ended June 30, 2024, compared to $202,171 thousand in the same period of 2023, indicating a significant increase in operational cash flow[43] - The company reported a net cash increase of $287,940 thousand for the six months ended June 30, 2024, compared to a decrease of $2,457,210 thousand in the same period of 2023[43] - Total cash and cash equivalents at the end of the period were $966,406 thousand, up from $520,264 thousand at the end of June 30, 2023[43] - The company’s cash equivalents include $907,229 thousand in money market funds as of June 30, 2024[65] - Free cash flow for the six months ended June 30, 2024, was $302,644, a significant improvement compared to a negative free cash flow of $(13,603) in the same period last year[174] Future Outlook and Strategic Initiatives - The company is investing in high fidelity avatars, AI tools, and other social features to enhance user engagement and platform value[141] - The company plans to implement changes in response to regulatory requirements focused on child and internet safety, which may impact user engagement and revenue[141] - The company intends to invest in and expand its advertising business for future revenue growth[177] - Research and development expenses are expected to increase due to higher headcount aimed at developing new features and innovations[189] - The company plans to increase sales and marketing expenses to support business growth in the foreseeable future[191]

RADNOR, Pa., Aug. 01, 2024 (GLOBE NEWSWIRE) -- The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) informs investors that a securities class action lawsuit has been filed in the United States District Court for the Northern District of California against Roblox Corporation ("Roblox") (NYSE: RBLX). The action charges Roblox with violations of the federal securities laws, including omissions and fraudulent misrepresentations relating to the company's business, operations, and prospects. As a res ...

Roblox, the virtual world gaming platform, reported a record 79.5 million average daily active users (DAUs), representing a 21% increase from the previous year, the company said in its second-quarter earnings report released Thursday (Aug. 1). "Our strong Q2 growth across all core metrics is driven by diverse and high-quality content," David Baszucki, founder and CEO of Roblox, said in a Thursday (Aug. 1) release announcing the company's second-quarter 2024 financial results. "Our platform continues to attr ...

Roblox's free cash flow grew fivefold in Q2. Shares of Roblox (RBLX -5.71%), the popular online gaming platform, slid 6% through 12:45 p.m. ET Thursday after the company beat on earnings this morning (kind of), but also missed on sales (narrowly). Roblox didn't actually "earn" anything, you see, but analysts thought it would lose $0.39 per share on sales of $898.5 million in the second quarter. In fact, Roblox lost only $0.32 per share -- and so beat earnings. Sales, however, came in short at $893.5 million ...

Financial Data and Key Metrics - Revenue for Q2 2024 was $893.5 million, a 31% year-on-year increase, beating the guidance range of $855 million to $880 million [5] - Bookings for Q2 2024 were $955 million, a 22% year-on-year increase, exceeding the guidance range of $870 million to $900 million [5] - DAUs reached a record 79.5 million, a 21% year-on-year increase, with over 13 DAUs growing 26% year-on-year [5] - Hours engaged hit a record 17.4 billion, a 24% year-on-year increase, with over 13 hours growing 30% year-on-year [6] - Consolidated net loss was $207 million, significantly better than the guidance of $267 million to $265 million [6] - Net cash flow from operations in Q2 was $151 million, up 433% year-on-year, and free cash flow was $112 million compared to negative $95.5 million a year ago [6] Business Line Data and Key Metrics - The company saw strong growth across all regions, with US and Canada experiencing their fastest growth since Q1 2021, Japan DAUs growing 56% year-on-year, and India DAUs growing 57% year-on-year [5] - The company's infrastructure and trust and safety expenditures were 8% lower year-on-year, driven by efficiency initiatives and AI integration [7] - The company continues to hire in key growth areas, including AI platform, safety group, and economy and ads team [7] Market Data and Key Metrics - The company's DAUs in Japan grew 56% year-on-year, and India DAUs grew 57% year-on-year, indicating significant potential in these markets [5] - Engagement hours in Japan grew 66% year-on-year, and India grew 60% year-on-year [6] Company Strategy and Industry Competition - The company is focusing on four key areas: LiveOps, ecosystem health, economy improvements, and performance and quality [8] - The company is optimizing its economy, particularly the pricing dynamics of its avatar accessory marketplace, which has shown significant benefits [10] - The company is expanding its use cases beyond gaming to include social communication, shopping, entertainment, and learning, aiming to reach 1 billion daily active users [11] Management Commentary on Operating Environment and Future Outlook - The company is optimistic about future growth prospects, driven by strong performance in key metrics and strategic initiatives [4] - The company is seeing benefits from its investments in AI and infrastructure efficiency, which are contributing to cost control and platform quality [7] - The company is confident in its ability to achieve its long-term growth targets, including reaching 1 billion daily active users [11] Other Important Information - The company's CFO, Mike Guthrie, has decided to move on from Roblox, and the company will begin the succession process [14] - The company is guiding for Q3 2024 revenue between $860 million and $885 million, and bookings between $1 billion and $1.025 billion [21] - For the full year 2024, the company expects revenue between $3.49 billion and $3.54 billion, and bookings between $4.18 billion and $4.23 billion [23] Q&A Session Summary Question: Sources of the upgrade in bookings guidance for the second half - The company saw an acceleration in user growth and engagement, leading to increased confidence in achieving the updated bookings guidance [25][26] Question: Impact of new US Senate bills on Roblox - The company supports legislation that ensures safety and privacy, aligning with its foundational principles [28] Question: Drivers of North America user growth and margin expansion - The company attributes North America growth to improvements in performance, quality, and ecosystem health, with significant headroom in the gaming market [44][45] - Margin expansion is driven by top-line growth, fixed cost leverage, and AI-driven efficiency improvements [46][47] Question: Progress on commerce and ad initiatives - The company has made progress in video ads, self-serve ad manager, and third-party integrations, with significant growth in brand activations [34][35] Question: Learnings from LiveOps events - LiveOps events drive DAUs, reclamation, and content discovery, with unique opportunities due to the UGC platform [40][41] Question: AI-driven moderation and content creation - The company is leveraging AI for safety and content moderation, with significant runway for growth in AI-driven tools and content creation [58][59] Question: Advertising potential over the next 1-5 years - The company is focusing on strategic opportunities in advertising, aiming for closed-loop systems that drive brand awareness and shopping [62]

Roblox (RBLX) came out with a quarterly loss of $0.32 per share versus the Zacks Consensus Estimate of a loss of $0.37. This compares to loss of $0.46 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 13.51%. A quarter ago, it was expected that this online gaming platform would post a loss of $0.53 per share when it actually produced a loss of $0.43, delivering a surprise of 18.87%. Over the last four quarters, the company has ...

About the publisher We are experts in medium and small-cap markets, we also keep our community up to date with blue-chip companies, commodities and broader investment stories. This is content that excites and engages motivated private investors. About Emily Jarvie Proactive news team spans the world's key finance and investing hubs with bureaus and studios in London, New York, Toronto, Vancouver, Sydney and Perth. Proactive has always been a forward looking and enthusiastic technology adopter. Proactive wil ...

Analysts on Wall Street project that Roblox (RBLX) will announce quarterly loss of $0.37 per share in its forthcoming report, representing an increase of 19.6% year over year. Revenues are projected to reach $894.94 million, increasing 14.6% from the same quarter last year. The consensus EPS estimate for the quarter has undergone a downward revision of 7.8% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates du ...

If you suffered Roblox losses, you may CLICK HERE or go to: https://www.ktmc.com/new-cases/robloxcorporation?utm_source=PR&utm_medium=link&utm_campaign=rblx&mktm=r You can also contact attorney Jonathan Naji, Esq. of Kessler Topaz by calling (484) 270-1453 or by email at [email protected]. In November 2023, Roblox provided investors with material information concerning the company's expected revenue for the first quarter of 2024 and fiscal year 2024. This was the first time Roblox offered earnings and reven ...

The gaming company has some ambitious goals that could translate into significant gains for investors. Many investors could be making a big mistake in overlooking the potential that this growth stock has. It has lost half of its value in the past three years, and a lack of profitability certainly isn't helping the stock. But here are three reasons you shouldn't give up on Roblox just yet, and why it could be an underrated buy. It was just last year that the company launched its partner program, which could ...