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Roblox | 8-K: Roblox Reports Fourth Quarter and Full Year 2023 Financial Results

SEC announcement ·  Feb 7 21:10
Summary by Futu AI
On February 7, 2024, Roblox Corporation released its financial results for the fourth quarter and full year of 2023, and provided guidance for the full year and first quarter of 2024. The announcement, made through a press release and a shareholder letter, was also furnished to the SEC in a Form 8-K report. Roblox reported a 30% year-over-year increase in Q4 revenue to $749.9 million, and a 25% increase in bookings to $1.126.8 million. Despite the revenue growth, the company posted a net loss of $323.7 million for the quarter. The full year results showed a 26% increase in revenue to $2.799.3 million and a 23% increase in bookings to $3.520.8 million, with a net loss of $1.151.9 million. Daily Active Users (DAUs) grew by 22% year-over-year to 71.5 million in Q4, and hours...Show More
On February 7, 2024, Roblox Corporation released its financial results for the fourth quarter and full year of 2023, and provided guidance for the full year and first quarter of 2024. The announcement, made through a press release and a shareholder letter, was also furnished to the SEC in a Form 8-K report. Roblox reported a 30% year-over-year increase in Q4 revenue to $749.9 million, and a 25% increase in bookings to $1.126.8 million. Despite the revenue growth, the company posted a net loss of $323.7 million for the quarter. The full year results showed a 26% increase in revenue to $2.799.3 million and a 23% increase in bookings to $3.520.8 million, with a net loss of $1.151.9 million. Daily Active Users (DAUs) grew by 22% year-over-year to 71.5 million in Q4, and hours engaged increased by 21% to 15.5 billion. The company ended the year with net liquidity of $2.2 billion. Looking forward, Roblox provided guidance for 2024, projecting revenue between $3.3 billion and $3.4 billion, and bookings between $4.14 billion and $4.28 billion, with a consolidated net loss between $1.4 billion and $1.365 billion. The company's CEO, David Baszucki, expressed confidence in achieving the long-term goal of attracting over 1 billion daily active users, citing strong network effects and investments in immersive experiences, advertising, and AI.

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