Roblox Corporation (NYSE:RBLX), a global platform bringing millions of people together through shared experiences, today released certain key metrics for the month of February 2023.
February 2023 Key Metrics
- Daily active users (DAUs) were 67.3 million, up 22% year-over-year.
- Hours engaged were 4.6 billion, up 24% year-over-year.
- Estimated revenue was between $214 million and $217 million, up 20% – 22% year-over-year.1,2
- Estimated bookings were between $243 million and $247 million, up 18% – 19% year-over-year.1
- Estimated average bookings per daily active user (ABPDAU) were between $3.61 and $3.67, a decline of between 2% – 4% year-over-year.1
We estimate that the impact of foreign currency fluctuations led to a reduction of approximately 2% in the year-over-year growth rate for February 2023 revenue and 3% in the year-over-year growth rate for February 2023 bookings. Thus, on a constant currency basis, we estimate our year-over-year February 2023 revenue growth would have been between 22% – 24%, our year-over-year February 2023 bookings growth would have been 21% – 23% and the change in year-over-year February 2023 ABPDAU would have been between -1% and 0%. During the quarter ended March 31, 2022, the Company updated its paying user life estimate from 23 months to 25 months. As a result of this change in estimate, February 2022 estimated revenue (as reported on March 15, 2022) was adjusted down by approximately $29 million. The year-over-year comparisons are based on the adjusted revenue number for February 2022 using the 25 month life.
Discontinuation of Monthly Key Metrics Releases
Following the expected release of March 2023 monthly metrics in April 2023, the Company will cease publishing monthly key metrics. By April 2023, we will have published monthly key metrics over our first eight quarters as a public company. While we think that has provided incremental information to investors regarding the seasonality of the business, we have decided to cease providing key monthly metrics to align our reporting cadence with our value of taking the long view. Key metrics will continue to be published on a quarterly basis aligned with the Company’s other quarterly disclosures, including its shareholder letter and other quarterly publications.
Silicon Valley Bank (SVB) Update
On March 10, 2023, Roblox filed a Current Report on Form 8-K stating that approximately 5% of the Company’s $3 billion of cash and securities balance was held at SVB and that the situation would have no impact on the day to day operations of the Company. On March 13, 2023, Roblox moved all of its cash and securities on deposit at or invested through SVB to another financial institution.