RBLX Q2 2024 Earnings

Call Details

• Call Title: Roblox Corporation Q2 2024 Earnings Call
• Date: August 1, 2024 at 12:30 PM UTC
• Management Team:
  • Stefanie Notaney (Head of Investor Relations)
  • David Baszucki (Chief Executive Officer)
  • Mike Guthrie (Chief Financial Officer)

Call Summary

Financial Performance

• Revenue in Q2 was $893.5M, representing 31% year-on-year growth and beating the prior guidance range of $855M to $880M.
• Bookings in Q2 were $955M, representing 22% year-on-year growth and beating the prior guidance range of $870M to $900M.
• Daily active users (DAUs) reached a record 79.5M in Q2, representing 21% year-on-year growth, and users over 13 make up 58% of total DAUs.
• Hours engaged in Q2 reached a record 17.4B, which was 24% year-on-year growth, with over-13 hours up 30% year-on-year and Japan and India engagement up 66% and 60% respectively.
• Consolidated net loss in Q2 was $207M, which was approximately $60M better than the company’s guidance for the quarter.
• Operating cash flow in Q2 was $151M, up 433% year-on-year, and free cash flow in Q2 was $112M versus negative $95.5M a year ago.

Guidance

• Q3 revenue guidance is $860M to $885M, implying 21% to 24% year-on-year growth.
• Q3 bookings guidance is $1.00B to $1.025B, implying 19% to 22% year-on-year growth.
• Q3 consolidated net loss guidance is negative $275M to negative $255M, with adjusted EBITDA guidance of $22M to $42M.
• Full-year revenue guidance has been raised to $3.49B to $3.54B, implying 25% to 26% year-on-year growth.
• Full-year bookings guidance has been raised to $4.18B to $4.23B, implying 19% to 20% year-on-year growth.
• Full-year free cash flow guidance is $505M to $535M, implying a year-on-year increase of 319% at the midpoint, with full-year operating cash flow guidance of $685M to $715M.