Roblox (RBLX 0.08%) hasn't exactly been a great performer recently. After rallying sharply through much of 2024 and into 2025, the stock fell sharply after reporting its fourth-quarter earnings and is down by nearly 20% from its February peak.To be fair, there were some good reasons for the decline. Roblox gave weak guidance for the first quarter, and certain growth rates declined more sharply than expected. But there's also a lot to like, especially from a long-term standpoint.Here's why I'm making the bol ...

I recently wrote an article on Reddit ( RDDT ), arguing that the company has all the ingredients for an ultra-high-quality business, qualities that I also see in the Mag 7 stocks. Specifically, I pointed out:I have worked in investment banking for almost a decade, before I decided to fully turn my attention to the stock market and my private investments. As a contributor to Seeking Alpha, my articles have a focus on accounting and financial analysis. I am an ex-colleague and close friend of Cavenagh Researc ...

Michael Wiggins De Oliveira is an inflection investor. This means buying into cheap companies at the moment when their narrative is changing and the business is on a path toward becoming significantly more profitable over the next year.With a focus on tech and “the Great Energy Transition (including uranium)”, Michael runs a concentrated portfolio with approximately 15 to 20 stocks and an average holding period of 18 months. Through his 10+ years analyzing countless companies, Michael has accumulated outsta ...

The metaverse gaming company is still a polarizing stock.Roblox (RBLX 0.19%) has been a divisive stock since its public debut four years ago. The gaming platform company's stock opened at $64.50 per share on the first day, and it more than doubled to a record closing price of $134.72 on Nov. 19, 2021.But as of this writing, Roblox's stock trades at about $56. Its investors fled as it lapped its pandemic-driven growth spurt, racked up more losses, grappled with safety and regulatory issues, and rising intere ...

Roblox (RBLX 1.51%) operates a hugely popular gaming platform that attracts millions of users every day. With a staggering 40 million games on Roblox, there's a ton of content out there to keep people coming back. It also has a ton of promise when it comes to monetizing its platform via ads. Despite all this potential, however, it still carries plenty of risk for investors. The company isn't profitable. A recent short-seller report questioned how the company handled the matter of keeping kids safe on its pl ...

Group 1: Growth Stocks and Investment Opportunities - Growth stocks present a significant opportunity for building lasting wealth, particularly by investing in companies that are tapping into large markets [1] - Long-term investors can benefit from focusing on brands and experiences that attract younger demographics, rather than solely chasing hot tech stocks [2] Group 2: Roblox - Roblox is experiencing strong momentum with a 44% increase in stock price over the past year, supported by a robust long-term growth strategy [3][6] - The platform boasts over 85 million daily active users, a 19% year-over-year increase, and users spent over 18 billion hours on the platform last quarter, indicating high engagement [4] - Roblox generated $641 million in free cash flow on $3.6 billion in revenue last year, with management targeting a 10% capture of annual video game spending, potentially leading to 20% annual top-line growth [6] Group 3: Take-Two Interactive - Take-Two Interactive, known for the Grand Theft Auto series, has seen a 38% stock increase over the past year, driven by anticipation of new game releases [7] - The upcoming launch of the sixth installment in the GTA series, along with new titles in established franchises, is expected to be transformative for the company's growth [8] - Management projects full-year revenue between $5.57 billion and $5.67 billion, with consensus estimates predicting revenue of $8.3 billion by fiscal 2027 and adjusted earnings per share of $9.22 [10][11]

Core Insights - The performance of Roblox's international operations is crucial for understanding its financial strength and growth potential [1][2] - The company's total revenue for the quarter ending December 2024 was $1.36 billion, reflecting a 20.8% increase year-over-year [4] International Revenue Analysis - Geographic Revenue from Asia-Pacific, including Australia and New Zealand, accounted for 7.58% of total revenue, translating to $103.19 million, which was a surprise decrease of -4.82% from expectations [5] - Geographic Revenue from Europe generated $182.86 million, constituting 13.43% of total revenue, exceeding expectations by +3.07% [6] - Geographic Revenue from the Rest of the World contributed $79.25 million, making up 5.82% of total revenue, surpassing estimates by +14.87% [7] Future Revenue Projections - Analysts project total revenue of $1.14 billion for the current fiscal quarter, indicating a 23.4% increase from the prior year [8] - For the entire year, total revenue is forecasted at $5.28 billion, a 20.8% improvement from the previous year, with regional contributions expected from Asia-Pacific (9%), Europe (14.7%), and Rest of the World (5.7%) [9] Market Dependency and Stock Performance - Roblox's reliance on global markets for revenue presents both opportunities and challenges, making international revenue trends a key indicator for future performance [11] - The company's stock has increased by 1.9% over the past month, while the broader market and its sector have seen larger gains [14]

Part I [Business Overview](index=10&type=section&id=Item%201.%20Business) Roblox operates a free-to-use immersive platform for connection and communication, driven by user-generated content and social network effects. - Roblox operates a free-to-use immersive platform where millions of users create, play, and connect in experiences built by a global community of creators. The platform is comprised of the Roblox Client, Roblox Studio, and Roblox Cloud[39](index=39&type=chunk)[40](index=40&type=chunk) Key User Metrics (Year Ended Dec 31, 2024) | Metric | Value | | :--- | :--- | | Average Daily Active Users (DAUs) | 82.9 million | | Countries with DAUs | Over 180 | | Total Hours Engaged | 73.5 billion | | Average Hours per DAU per Day | 2.4 hours | | Average Daily Unique Paying Users | ~1.0 million | Developer and Creator Earnings | Metric | 2024 | 2023 | | :--- | :--- | :--- | | Developer & Creator Earnings | $922.8 million | $740.8 million | | Registered in DevEx Program | >24,500 | >16,500 | | Exchanged Robux for Fiat | >17,000 | N/A | - The company reduced the minimum Robux required for the Developer Exchange Program from 50,000 to **30,000** on January 31, 2023, to incentivize the creator community[51](index=51&type=chunk) [Products and Technology](index=13&type=section&id=Our%20Products%20and%20Technology) The Roblox Platform is built on three core elements: the Roblox Client for user experience, Roblox Studio for creation, and Roblox Cloud for infrastructure. - The platform consists of three main components: Roblox Client (user application), Roblox Studio (free creation toolset), and Roblox Cloud (services and infrastructure)[40](index=40&type=chunk)[56](index=56&type=chunk) - As of December 31, 2024, the Roblox Cloud uses over **140,000 servers** and operates from data centers in **23 cities** across North America, Asia-Pacific, and Europe[73](index=73&type=chunk) - Roblox Studio leverages AI tools like Assistant, Code Assist, and Materials Generator to simplify content creation for developers of all skill levels[78](index=78&type=chunk) [The Roblox Economy and Business Model](index=19&type=section&id=The%20Roblox%20Economy) Roblox's economy is built on its virtual currency, Robux, with revenue generated from a small percentage of paying users. - The business model is free-to-use, with revenue generated from a small portion of users purchasing Robux. In 2024, only **~1.0 million** of the **82.9 million** average DAUs were daily unique paying users[102](index=102&type=chunk)[103](index=103&type=chunk) Monetization Metrics (Year Ended Dec 31, 2024) | Metric | Value | | :--- | :--- | | Avg. Daily Bookings per DAU | $0.14 | | Avg. Daily Bookings per Daily Unique Paying User | $11.48 | - Developers and creators can convert earned Robux to fiat currency at an exchange rate of **$0.0035 per Robux** as of December 31, 2024, through the Developer Exchange Program[107](index=107&type=chunk) - When a virtual item is sold, the creator typically receives **30%** of the Robux, the seller/distributor receives **40%**, and the platform receives **30%**. If a creator sells their own item in their own experience, they receive **70%**[106](index=106&type=chunk) [Safety and Digital Civility](index=18&type=section&id=Safety%20and%20Digital%20Civility) Roblox prioritizes creating a safe and civil online environment through a multi-layered moderation system and compliance with regulations. - Safety is the highest priority, with strict policies and a multi-layered moderation system combining AI and thousands of human moderators to review content and enforce Community Standards[94](index=94&type=chunk)[99](index=99&type=chunk) - During the year ended December 31, 2024, the company evaluated over **400 million assets** (images, audio, video) before they appeared on the platform[91](index=91&type=chunk) - The company partners with leading safety groups like WeProtect Global Alliance and the Technology Coalition, and is a founding member of the Lantern program for cross-platform signal sharing to promote child safety[96](index=96&type=chunk) [Competition](index=23&type=section&id=Competition) Roblox competes for user attention and developer talent with a wide range of global technology, entertainment, and gaming companies. - Competes for user attention with tech giants (Amazon, Apple, Meta, Google), entertainment companies (Disney), gaming companies (Activision Blizzard, Epic Games), and social platforms (TikTok, Instagram)[116](index=116&type=chunk) - Competes for developers and creators with game engine and distribution platforms such as Epic Games, Unity, and Valve Corporation[117](index=117&type=chunk) [Human Capital](index=26&type=section&id=Human%20Capital) As of December 31, 2024, Roblox employed 2,474 full-time employees, with a majority in product and engineering roles. - As of December 31, 2024, the company had **2,474 full-time employees**, with approximately **77%** (over **1,800**) in product and engineering functions[133](index=133&type=chunk) - The company completed its return-to-office (RTO) plan in the summer of 2024, requiring certain remote employees to relocate to the San Mateo headquarters[134](index=134&type=chunk) [Risk Factors](index=28&type=page&id=Item%201A.%20Risk%20Factors) The company faces significant risks, including a history of net losses, reliance on third-party platforms, and evolving global regulations. - **Financial Risk:** The company has a history of net losses (**$1.15 billion** in 2023, **$935.4 million** in 2024) and may not achieve future profitability due to increasing operating expenses[143](index=143&type=chunk) - **Regulatory Risk:** The business is subject to evolving laws worldwide concerning online safety (UK's OSA, EU's DSA), privacy (GDPR, CCPA), and protection of minors (COPPA), which could increase costs, require platform changes, or restrict operations[147](index=147&type=chunk)[149](index=149&type=chunk)[242](index=242&type=chunk)[244](index=244&type=chunk) - **Operational Risk:** Dependence on third-party operating systems (Apple, Google) and their app stores is a major risk, as they control distribution and take a significant share of revenue (up to **30%**). Platform outages or security breaches could severely harm user trust and business operations[157](index=157&type=chunk)[160](index=160&type=chunk)[178](index=178&type=chunk) - **Reputational Risk:** The ability to provide a safe online environment, particularly for children, is critical. Failure to prevent inappropriate content or behavior could dramatically harm the brand and business[164](index=164&type=chunk) - **Concentration Risk:** Voting control is concentrated in the company's Founder, David Baszucki, who holds **100%** of the Class B common stock, each with **20 votes per share**, limiting public stockholders' influence[286](index=286&type=chunk) [Cybersecurity](index=65&type=page&id=Item%201C.%20Cybersecurity) Roblox maintains an enterprise-wide information security program to manage cybersecurity risks, overseen by its CISO and the Audit and Compliance Committee. - The company has an enterprise-wide security program to identify, protect, detect, and respond to cybersecurity threats, integrated into its overall risk management[305](index=305&type=chunk) - Oversight is managed by the Chief Information Security Officer (CISO) and the Audit and Compliance Committee (ACC) of the Board of Directors, which receives at least quarterly briefings from the CISO[307](index=307&type=chunk)[312](index=312&type=chunk)[315](index=315&type=chunk) - During the last fiscal year, the company did not identify any cybersecurity threats that had a material effect on its business strategy, results of operations, or financial condition[317](index=317&type=chunk) [Properties](index=67&type=section&id=Item%202.%20Properties) As of January 1, 2025, Roblox relocated its corporate headquarters to a new leased office complex in San Mateo, California. - The company relocated its corporate headquarters to a new **752,546 sq. ft.** leased facility in San Mateo, CA, on January 1, 2025[319](index=319&type=chunk) - Roblox operates several data centers in the U.S. and internationally in locations including France, Germany, Hong Kong, Japan, Singapore, the Netherlands, India, Australia, and the UK[321](index=321&type=chunk) [Legal Proceedings](index=67&type=section&id=Item%203.%20Legal%20Proceedings) The company is involved in various legal proceedings, including a consolidated class action lawsuit alleging minors used third-party virtual casinos. - A putative class action, Colvin v. Roblox, was filed on August 1, 2023, alleging that minors used third-party virtual casinos to gamble Robux. A similar case, Gentry v. Roblox, was filed and consolidated with it[619](index=619&type=chunk)[620](index=620&type=chunk) - The court dismissed fraud-based claims but allowed claims for negligence, unjust enrichment, and violations of California's Unfair Competition Law to proceed. The company denies the claims and discovery is underway[620](index=620&type=chunk) Part II [Market for Common Equity and Related Matters](index=68&type=section&id=Item%205.%20Market%20for%20Registrant%27s%20Common%20Equity%2C%20Related%20Stockholder%20Matters%20and%20Issuer%20Purchases%20of%20Equity%20Securities) Roblox's Class A common stock trades on the NYSE, and the company has never paid cash dividends, retaining earnings for business expansion. - Class A common stock trades on the NYSE under the symbol "**RBLX**" since March 10, 2021[327](index=327&type=chunk) - The company has never declared or paid cash dividends and does not expect to in the foreseeable future[331](index=331&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations (MD&A)](index=70&type=section&id=Item%207.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) In fiscal year 2024, Roblox saw continued growth in user engagement and monetization, with revenue increasing 29% to $3.60 billion. Key Financial and Operating Metrics (FY 2024 vs FY 2023) | Metric | FY 2024 | FY 2023 | % Change | | :--- | :--- | :--- | :--- | | Revenue | $3,602.0 M | $2,799.3 M | 29% | | Bookings (Non-GAAP) | $4,369.1 M | $3,520.8 M | 24% | | Net Loss | ($935.4 M) | ($1,151.9 M) | (19%) | | Adjusted EBITDA (Non-GAAP) | $180.2 M | ($170.7 M) | N/A | | Free Cash Flow (Non-GAAP) | $641.3 M | $124.0 M | 417% | | Avg. DAUs | 82.9 M | 68.9 M | 20% | | Hours Engaged | 73.5 B | 60.0 B | 22% | - Effective April 1, 2024, the company updated its estimated paying user life from **28 months to 27 months**. This change increased fiscal year 2024 revenue by **$98.0 million** and cost of revenue by **$20.4 million**[380](index=380&type=chunk)[512](index=512&type=chunk) [Results of Operations (2024 vs. 2023)](index=82&type=section&id=Results%20of%20Operations) For the year ended December 31, 2024, revenue grew by $802.7 million (29%) to $3.6 billion, while total costs and expenses rose 15%. Comparison of Results of Operations (in thousands) | Line Item | FY 2024 | FY 2023 | % Change | | :--- | :--- | :--- | :--- | | **Revenue** | **$3,601,979** | **$2,799,274** | **29%** | | Cost of revenue | $801,162 | $649,115 | 23% | | Developer exchange fees | $922,821 | $740,752 | 25% | | Infrastructure and trust & safety | $915,418 | $878,361 | 4% | | Research and development | $1,444,207 | $1,253,598 | 15% | | General and administrative | $407,507 | $390,055 | 4% | | Sales and marketing | $174,181 | $146,460 | 19% | | **Total costs and expenses** | **$4,665,296** | **$4,058,341** | **15%** | | **Loss from operations** | **($1,063,317)** | **($1,259,067)** | **(15%)** | | **Net loss attributable to common stockholders** | **($935,384)** | **($1,151,946)** | **(19%)** | - The **4%** increase in Infrastructure and trust & safety costs was driven by higher personnel and data center expenses, but was significantly offset by a **$25.7 million** decrease in moderation and customer support costs due to efficiency gains from AI-driven tools[412](index=412&type=chunk)[413](index=413&type=chunk) [Liquidity and Capital Resources](index=85&type=section&id=Liquidity%20and%20Capital%20Resources) As of December 31, 2024, Roblox's principal sources of liquidity were $4.0 billion in cash, cash equivalents, and investments. Cash and Investments (in billions) | As of December 31, | 2024 | 2023 | | :--- | :--- | :--- | | Cash, cash equivalents, and investments | $4.0 | $3.2 | Summary of Cash Flows (in millions) | Cash Flow | FY 2024 | FY 2023 | | :--- | :--- | :--- | | Net cash from operating activities | $822.3 | $458.2 | | Net cash used in investing activities | ($852.1) | ($2,825.1) | | Net cash from financing activities | $65.9 | $67.2 | - The company has **$1.0 billion** in aggregate principal of **3.875% Senior Notes due 2030**. As of Dec 31, 2024, the net carrying amount was **$991.7 million** and the estimated fair value was **$901.5 million**[605](index=605&type=chunk)[611](index=611&type=chunk)[613](index=613&type=chunk) [Critical Accounting Policies and Estimates](index=88&type=section&id=Critical%20Accounting%20Policies%20and%20Estimates) Roblox's critical accounting policies involve significant management judgment, particularly in revenue recognition and stock-based compensation. - **Revenue Recognition:** A critical estimate is the average lifetime of a paying user, used to recognize revenue from durable virtual items. This was updated from **28 to 27 months** in Q2 2024[442](index=442&type=chunk)[447](index=447&type=chunk)[448](index=448&type=chunk) - **Stock-Based Compensation:** The company uses the Black-Scholes model for options and ESPP rights, requiring subjective assumptions for expected term and volatility. The fair value of RSUs is based on the stock price at grant[449](index=449&type=chunk)[450](index=450&type=chunk)[451](index=451&type=chunk) - On March 1, 2024, the company cancelled the original CEO Long-Term Performance Award and granted a new award. This was treated as a modification, with the remaining unrecognized expense of **$84.4 million** to be recognized over the new service period[456](index=456&type=chunk)[647](index=647&type=chunk)[649](index=649&type=chunk) [Consolidated Financial Statements and Supplementary Data](index=92&type=section&id=Item%208.%20Consolidated%20Financial%20Statements%20and%20Supplementary%20Data) The consolidated financial statements for the year ended December 31, 2024, present Roblox's financial position and results of operations. Consolidated Balance Sheet Data (in thousands) | As of December 31, | 2024 | 2023 | | :--- | :--- | :--- | | **Total Assets** | **$7,175,003** | **$6,168,078** | | Total Current Assets | $3,728,030 | $3,275,413 | | **Total Liabilities** | **$6,966,349** | **$6,099,452** | | Deferred Revenue (Current + Long-term) | $4,571,976 | $3,779,542 | | Long-term debt, net | $1,006,371 | $1,005,000 | | **Total Stockholders' Equity** | **$208,654** | **$68,626** | Consolidated Statement of Operations Data (in thousands) | For the Year Ended December 31, | 2024 | 2023 | 2022 | | :--- | :--- | :--- | :--- | | Revenue | $3,601,979 | $2,799,274 | $2,225,052 | | Total costs and expenses | $4,665,296 | $4,058,341 | $3,148,836 | | Loss from operations | ($1,063,317) | ($1,259,067) | ($923,784) | | **Consolidated net loss** | **($940,614)** | **($1,158,937)** | **($934,141)** | | Net loss per share, basic and diluted | ($1.44) | ($1.87) | ($1.55) | - The independent auditor, Deloitte & Touche LLP, issued an unqualified opinion and identified Revenue Recognition as a Critical Audit Matter due to the significant judgment in estimating customer life and the allocation between consumable and durable virtual items[473](index=473&type=chunk)[474](index=474&type=chunk)[475](index=475&type=chunk) [Note 11: Stock-Based Compensation](index=123&type=section&id=Note%2011.%20Stock-Based%20Compensation) Total stock-based compensation expense for 2024 was $1.016 billion, up from $868 million in 2023, with the majority allocated to R&D. Stock-Based Compensation Expense (in thousands) | Category | 2024 | 2023 | | :--- | :--- | :--- | | Infrastructure and trust & safety | $113,708 | $92,147 | | Research and development | $723,326 | $607,593 | | General and administrative | $138,444 | $131,577 | | Sales and marketing | $40,316 | $36,650 | | **Total** | **$1,015,794** | **$867,967** | - On March 1, 2024, the CEO's 2021 Long-Term Performance Award was cancelled and replaced with a new PSU and RSU award. This modification resulted in **$84.4 million** of unrecognized stock-based compensation to be expensed over the new award's vesting period[647](index=647&type=chunk)[649](index=649&type=chunk) - In Q1 2024, new PSU awards were granted to executives tied to cumulative bookings and Adjusted EBITDA performance over a two-year period ending Dec 31, 2025[654](index=654&type=chunk) [Controls and Procedures](index=136&type=section&id=Item%209A.%20Controls%20and%20Procedures) Management concluded that the company's disclosure controls and internal control over financial reporting were effective as of December 31, 2024. - Management concluded that both disclosure controls and procedures and internal control over financial reporting were effective as of December 31, 2024[694](index=694&type=chunk)[695](index=695&type=chunk) - The independent registered public accounting firm issued an unqualified audit report on the effectiveness of the company's internal control over financial reporting[695](index=695&type=chunk) [Other Information](index=137&type=section&id=Item%209B.%20Other%20Information) Several key executives and directors adopted Rule 10b5-1 trading arrangements during the fourth quarter of 2024. - Several directors and officers adopted Rule 10b5-1 trading plans in Q4 2024, including: - **CEO David Baszucki:** Sale of up to **8,781,047 shares** and gift of up to **1,914,015 shares**, expiring Feb 2026[699](index=699&type=chunk)[700](index=700&type=chunk) - **CFO Michael Guthrie:** Sale of up to **500,000 shares**, expiring Nov 2025[701](index=701&type=chunk) - **Director Anthony Lee:** Sale of up to **660,000 shares**, expiring Mar 2026[702](index=702&type=chunk) - **Director Greg Baszucki:** Sale of up to **1,168,650 shares** and gift of up to **350,595 shares**, expiring Mar 2026[703](index=703&type=chunk) - **CLO Mark Reinstra:** Sale of up to **310,000 shares**, expiring May 2026[704](index=704&type=chunk) - **CPSO Arvind Chakravarthy:** Sale of up to **143,194 shares** plus additional shares from vested equity, expiring Dec 2025[705](index=705&type=chunk) Part III [Directors, Executive Compensation, and Corporate Governance](index=138&type=section&id=Items%2010-14) Information related to Directors, Executive Officers, and Corporate Governance is incorporated by reference from the company's forthcoming 2025 proxy statement. - Information for Items 10, 11, 12, 13, and 14 is incorporated by reference from the forthcoming 2025 Proxy Statement[709](index=709&type=chunk)[710](index=710&type=chunk)[711](index=711&type=chunk)[712](index=712&type=chunk)[713](index=713&type=chunk) Part IV [Exhibits and Financial Statement Schedules](index=139&type=section&id=Item%2015.%20Exhibits%20and%20Financial%20Statement%20Schedules) This section lists the exhibits filed as part of the Annual Report on Form 10-K, with financial statement schedules omitted. - This section contains the index of all exhibits filed with or incorporated by reference into the Form 10-K[716](index=716&type=chunk)[718](index=718&type=chunk)

Summary of Key Points Core Viewpoint - Roblox (NYSE: RBLX) experienced a 25% stock rally following a previous article discussing its growth potential, but subsequently saw a 30% decline after a disappointing Q4 earnings report [1]. Company Analysis - The stock's performance indicates volatility, with significant fluctuations in response to earnings reports, highlighting investor sensitivity to financial results [1]. - The company is positioned within the technology sector, focusing on growth stocks that prioritize innovation and scalability [1]. Market Context - The investment strategy employed involves long-short strategies that leverage macroeconomic trends, suggesting a focus on navigating market cycles effectively [1]. - The overall sentiment in the market reflects a cautious approach towards high-valuation stocks, particularly in the tech sector, as evidenced by the stock's recent performance [1].

Core Insights - Roblox's share prices fell after the company issued disappointing guidance, despite a strong start to the year with a 13.5% increase year-to-date and a 48% rise over the past year [1] Financial Performance - Bookings for Q4 rose 21% year-over-year to $1.36 billion, but fell short of analyst expectations of $1.37 billion [4] - Daily active users grew 19% to 85.3 million, below the analyst consensus of 88.2 million, indicating potential revenue challenges [5] - Overall revenue increased 32% year-over-year to $988.2 million, with adjusted EBITDA improving from a loss of $44.8 million to a gain of $65.6 million [6] Stock-Based Compensation - The company recorded $258.2 million in stock-based compensation expenses for the quarter and $1 billion for the year, leading to a 5% increase in share count from 681.3 million to 714.7 million [7] Future Guidance - For Q1, Roblox forecasts bookings between $1.125 billion and $1.150 billion, with revenue expected to be between $990 million and $1.015 billion [9] - The company projects 2025 bookings of $5.2 billion to $5.3 billion, revenue between $4.245 billion and $4.345 billion, and adjusted EBITDA of $190 million to $265 million [8][10] Strategic Initiatives - Roblox aims to capture 10% of all gaming content spending on its platform, currently at 2.4% [10] - The company is integrating artificial intelligence to enhance user experience and platform safety [11] Market Position - Roblox is exploring additional monetization options through advertisements and shopping opportunities, with notable partnerships including Amazon and Shopify [12]