Core Viewpoint - A lawsuit has been filed against Roblox Corp. on behalf of investors who purchased securities between November 15, 2023, and May 8, 2024, alleging that the company misrepresented its revenue outlook and growth potential [1][3]. Summary by Sections Lawsuit Details - The lawsuit claims that Roblox's management created a false impression regarding the company's revenue projections and bookings growth, attributing this to platform expansion and technological advancements [3]. - Investors who acquired Roblox securities during the specified Class Period can seek to be appointed as lead plaintiff representatives by August 12, 2024 [2]. Financial Performance - On May 8, 2024, Roblox revised its fiscal year 2024 bookings guidance to a range of $4.0 billion to $4.14 billion and total revenue to between $3.30 billion and $3.40 billion [4]. - Following this announcement, Roblox's stock price dropped by $8.67, a decline of over 22%, from $39.09 per share on May 8, 2024, to $30.42 per share on May 9, 2024 [4].

SAN DIEGO, Aug. 08, 2024 (GLOBE NEWSWIRE) -- The law firm of Robbins Geller Rudman & Dowd LLP announces that purchasers or acquirers of Roblox Corp. (NYSE: RBLX) securities between November 15, 2023 and May 8, 2024, inclusive (the "Class Period"), have until this upcoming Monday, August 12, 2024 to seek appointment as lead plaintiff of the Roblox class action lawsuit. Captioned Li v. Roblox Corp., No. 24-cv03484 (N.D. Cal.), the Roblox class action lawsuit charges Roblox and certain of Roblox's top executiv ...

NEW YORK, Aug. 07, 2024 (GLOBE NEWSWIRE) -- The Gross Law Firm issues the following notice to shareholders of Roblox Corporation (NYSE: RBLX). Shareholders who purchased shares of RBLX during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery. CONTACT US HERE: https://securitiesclasslaw.com/securities/roblox-loss-submission-form/?id=94048&from=3 CLASS PERIOD: November 15, 2023 to M ...

NEW YORK, Aug. 06, 2024 (GLOBE NEWSWIRE) -- WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Roblox Corporation (NYSE: RBLX) between November 15, 2023 and May 8, 2024, both dates inclusive (the "Class Period"), of the important August 12, 2024 lead plaintiff deadline. SO WHAT: If you purchased Roblox securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. WHAT T ...

SAN DIEGO, Aug. 05, 2024 (GLOBE NEWSWIRE) -- The law firm of Robbins Geller Rudman & Dowd LLP announces that purchasers or acquirers of Roblox Corp. (NYSE: RBLX) securities between November 15, 2023 and May 8, 2024, inclusive (the "Class Period"), have until Monday, August 12, 2024 to seek appointment as lead plaintiff of the Roblox class action lawsuit. Captioned Li v. Roblox Corp., No. 24-cv-03484 (N.D. Cal.), the Roblox class action lawsuit charges Roblox and certain of Roblox's top executives with viola ...

RADNOR, Pa., Aug. 4, 2024 /PRNewswire/ -- The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) informs investors that a securities class action lawsuit has been 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 result of Roblox's materially misleading statements and omissions to the public, Roblox's ...

Roblox (RBLX) reported $955.18 million in revenue for the quarter ended June 2024, representing a year-overyear increase of 22.4%. EPS of -$0.32 for the same period compares to -$0.46 a year ago. The reported revenue represents a surprise of +6.51% over the Zacks Consensus Estimate of $896.77 million. With the consensus EPS estimate being -$0.37, the EPS surprise was +13.51%. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determin ...

Roblox (RBLX) reported second-quarter 2024 loss of 32 cents per share, narrower than the Zacks Consensus Estimate of a loss of 37 cents. The company had incurred a loss of 46 cents per share in the year-ago quarter. Net revenues increased 22.3% year over year to $955.18 million. The Zacks Consensus Estimate for revenues was pegged at $897 million. Net bookings jumped 22% year over year to $955.2 million, which increased from $780.7 million reported in the year-ago quarter. The figure beat the Zacks Consensu ...

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 ...