Summary by Moomoo AI
The United States Securities and Exchange Commission (SEC) has reviewed Roblox Corporation's response to a previous comment letter and issued a follow-up comment on April 26, 2024. The SEC has requested that Roblox remove any references to Covenant Adjusted EBITDA from its earnings releases and shareholder letters included in Forms 8-K, as well as from earnings calls and other supplemental information. The regulatory body has pointed out that the adjustments for change in deferred revenue and change in deferred cost of revenue may result in a measure that reflects individually tailored recognition methods, which is not in line with SEC guidelines. Roblox has been given ten business days to provide the requested information or to notify the SEC of when they will respond. The SEC has indicated that further comments may follow after reviewing Roblox's response to this latest correspondence.