The losses per share for Roblox were 52 cents, surpassing the analysts’ expectation of 55 cents, as reported by LSEG (formerly Refinitiv). The company’s revenue, known as bookings, was $1.13 billion, exceeding the anticipated $1.08 billion, according to LSEG. Roblox’s revenue is generated through the sale of its virtual currency, Robux, which is used by players to customize their avatars and purchase premium in-game features. Additionally, Roblox reported a full-year revenue of $3.52 billion, surpassing the consensus estimate of $3.41 billion by LSEG. The company incurred a full-year loss per share of $1.87, compared to the anticipated $1.91. The quarterly bookings for Roblox reached $1.1 billion, marking a new high for the company. Roblox CEO David Baszucki expressed confidence in achieving the long-term goal of attracting over 1 billion daily active users, citing optimism and civility. The company’s average daily active users for the quarter were 71.5 million, a 22% increase from the previous year. Despite experiencing stagnant growth in the latter part of the fiscal year 2022, Roblox witnessed growth in average DAUs over the last two quarters. The average bookings per daily active user saw a 3% increase to $15.75, in line with historical trends during the fiscal fourth quarter. Baszucki highlighted the robust growth in both the 13-and-up and non-U.S. & Canada segments, indicating positive trends among significant user cohorts. The number of engaged hours for users decreased from 16 million in the third quarter of 2023 to 15.5 million in the fourth quarter, but still reflected a 21% rise from the previous year. Roblox issued guidance for 2024 and the first fiscal quarter, projecting first-quarter bookings ranging from $910 million to $940 million and a net loss between $342 million and $347 million. For the full year 2024, the company estimated bookings between $4.1 billion and $4.28 billion, along with a net loss between $1.37 billion and $1.4 billion. Despite the growth in personnel costs, which increased by 24% year over year from $160 million to $198 million, the rate of increase was slower compared to bookings. This growth in personnel costs was most prominent in Roblox’s infrastructure and trust and safety teams, as indicated after excluding share-based compensation.
