Roblox Corporation, a leading online platform for user-generated content, has reported its financial results for the fiscal year ending December 31, 2023. The company saw a 26% increase in revenue, reaching $2.799 billion compared to $2.225 billion in the previous year. This growth was primarily driven by a higher average number of daily unique paying users, which rose from approximately 725,000 in 2022 to approximately 852,000 in 2023. Despite this increase in revenue, Roblox reported a consolidated net loss of $1.158 billion, a slight increase from the $934 million loss in the previous year. The company's bookings, a non-GAAP financial measure, also saw an increase, totaling $3.520 billion, up from $2.872 billion in the prior year. Free cash flow improved significantly, turning positive at $124 million compared to a negative $58 million...Show More

Roblox Corporation, a leading online platform for user-generated content, has reported its financial results for the fiscal year ending December 31, 2023. The company saw a 26% increase in revenue, reaching $2.799 billion compared to $2.225 billion in the previous year. This growth was primarily driven by a higher average number of daily unique paying users, which rose from approximately 725,000 in 2022 to approximately 852,000 in 2023. Despite this increase in revenue, Roblox reported a consolidated net loss of $1.158 billion, a slight increase from the $934 million loss in the previous year. The company's bookings, a non-GAAP financial measure, also saw an increase, totaling $3.520 billion, up from $2.872 billion in the prior year. Free cash flow improved significantly, turning positive at $124 million compared to a negative $58 million in 2022. In terms of business development, Roblox continues to attract users worldwide to its platform for a variety of activities, including gaming, social media, and learning. The company's mission is to connect a billion users with optimism and civility, and it invests heavily in its developer and creator community, as well as the technology and infrastructure required to improve the Roblox Platform. Looking ahead, Roblox plans to focus on growing its overall number of users and believes that the number of users who choose to purchase and spend Robux will continue to constitute a small portion of overall users. The company's primary areas of investment will remain its developer and creator community, and the people, technology, and infrastructure that support the platform. Roblox expects to moderate its investment in infrastructure in fiscal year 2024 but anticipates increasing investment in the following years to support global infrastructure development.