SAN MATEO, Calif.--(BUSINESS WIRE)--Mar. 15, 2023--
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
 Constant currency is calculated by converting our current period revenue, bookings and ABPDAU into U.S. dollars using the comparative prior period’s monthly exchange rates for our non-USD currencies, rather than the actual average exchange rates in effect during the current period. By adjusting revenue, bookings and ABPDAU for constant currency, we are able to provide a framework for assessing how our business performed excluding the effect of foreign currency rate fluctuations.
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.
This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. The estimated February 2023 Key Metrics are forward-looking statements and are based on current plans, expectations, estimates, forecasts, and projections as well as the beliefs and assumptions of management, and our plans for publishing monthly key metrics. The forward-looking statements included in this press release represent our views as of the date of this press release. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond our control. Our actual results could differ materially from those stated or implied in forward-looking statements or from Company expectations due to a number of factors, including but not limited to risks detailed in our filings with the Securities and Exchange Commission (the “SEC”), including our quarterly reports on Form 10-Q and annual reports on Form 10-K and other filings and reports that we may file from time to time with the SEC. We anticipate that subsequent events and developments may cause our views to change and all monthly Key Metrics are subject to normal quarter end review and potential adjustments. We undertake no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date of this press release. Past performance is not necessarily indicative of future results and quarterly performance may materially differ from aggregation of the monthly Key Metrics for each month within the quarter.
Roblox’s mission is to connect a billion people with optimism and civility. Every day, tens of millions of people around the world have fun with friends as they explore millions of immersive digital experiences. All of these experiences are built by the Roblox community, made up of millions of creators. We believe in building a safe, civil, and diverse community—one that inspires and fosters creativity and positive relationships between people around the world. For more information, please visit corp.roblox.com.
ROBLOX and the Roblox logo are among the registered and unregistered trademarks of Roblox Corporation in the United States and other countries. © 2023 Roblox Corporation. All rights reserved.
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Roblox Corporate Communications
Source: Roblox Corporation