Business Wire | Nov 8, 2021 04:07PM EST

Roblox Reports Third Quarter 2021 Financial Results

Nov. 08, 2021

SAN MATEO, Calif.--(BUSINESS WIRE)--Nov. 08, 2021--Roblox Corporation (NYSE: RBLX), a global platform bringing millions of people together through shared experiences, released its third quarter 2021 financial results today and separately posted a letter to shareholders and supplemental materials on the Roblox investor relations website at ir.roblox.com.

Third Quarter 2021 Financial Highlights

* Revenue increased 102% over Q3 2020 to $509.3 million * Net loss attributable to common stockholders for Q3 2021 was $74.0 million * Net cash provided by operating activities of $181.2 million; Free cash flow increased 7% over Q3 2020 to $170.6 million. * Bookings increased 28% over Q3 2020 to $637.8 million * Average Daily Active Users (DAUs) were 47.3 million, an increase of 31% year over year: * Hours Engaged were 11.2 billion, an increase of 28% year over year * Average Bookings per DAU (ABPDAU) was $13.49

For October 2021 key metric estimates, please refer to our Q3 2021 Shareholder Letter at ir.roblox.com.

"Engagement is our north star. We're very pleased that during the third quarter, people of all ages from across the globe chose to spend over 11 billion hours on Roblox," said David Baszucki, Chief Executive Officer of Roblox. "We are happy to report that the developer community earned over $130 million in the quarter and is on pace to earn well over $500 million this year. As we finish 2021 and head into 2022, we will continue to invest in innovative technology to enable our developer community to do what they do best - build and create."

"Growth in all of our core metrics - DAUs, hours, and bookings - displayed strong year-over-year growth despite lapping Covid-impacted periods and back-to-school seasonality," said Michael Guthrie, Chief Financial Officer of Roblox. "Notwithstanding significant investments in developer economics and hiring, we also generated healthy cash from operations. Based on our October results, we appear to be having a great start to the last quarter of the year."

Earnings Q&A Session

Roblox will host a live Q&A session to answer questions regarding their third quarter 2021 results on Tuesday, November 9, 2021 at 5:30 a.m. Pacific Time. The webcast will be open to the public at ir.roblox.com.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to, statements regarding our investment strategy, business strategy and growth plans, our expectation of successfully executing such strategies and plans and our expectations for our fiscal fourth quarter financial results. These forward-looking statements are made as of the date they were first issued and were based on current expectations, estimates, forecasts, and projections as well as the beliefs and assumptions of management. Words such as "expect," "anticipate," "should," "believe," "hope," "target," "continue," "project," "plan," "goals," "opportunity," "appeal," "estimate," "potential," "predict," "may," "will," "might," "could," "intend," "shall," and variations of these terms or the negative of these terms and similar expressions are intended to identify these forward-looking statements. 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 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 in our Quarterly Report on Form 10-Q filed for the fiscal quarter ended June 30, 2021 and other filings and reports we make with the SEC from time to time. In particular, the following factors, among others, could cause results to differ materially from those expressed or implied by such forward-looking statements: our ability to successfully execute our business and growth strategy; the sufficiency of our cash and cash equivalents to meet our liquidity needs; the impact of our senior notes and any future indebtedness on our business, financial condition and results of operations; the demand for our platform in general; our ability to increase our number of new users and revenue generated from users; our ability to retain and expand our user base; the impact on our business of the COVID-19 pandemic restrictions and the easing of those restrictions as vaccinations become more prevalent; the fluctuation of our results of operations and our key business measures on a quarterly basis in future periods; our ability to successfully develop and deploy new technologies to address the needs of our users; our ability to maintain and enhance our brand and reputation; our ability to hire and retain talent; news or social media coverage about Roblox, including but not limited to coverage that presents, or relies on, inaccurate, misleading, incomplete, or otherwise damaging information; any breach or access to user or third-party data; and our ability to maintain the security and availability of our platform. Additional information regarding these and other risks and uncertainties that could cause actual results to differ materially from our expectations is included in the reports we have filed or will file with the SEC, including our Quarterly Report Form 10-Q for the fiscal quarter ended June 30, 2021.

The forward-looking statements included in this press release represent our views as of the date of this press release. We anticipate that subsequent events and developments will cause our views to change. 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.

ROBLOX CORPORATIONCONDENSED CONSOLIDATED BALANCE SHEETS(in thousands, except par values)(unaudited) As of September 30, December 31, 2021 2020

AssetsCurrent assets:Cash and cash equivalents $ 1,925,559 $ 893,943

Accounts receivable-net of allowances 168,762 246,986

Prepaid expenses and other current assets 37,667 26,274

Deferred cost of revenue, current portion 379,611 256,928

Total current assets 2,511,599 1,424,131

Property and equipment-net. 227,330 206,415

Operating lease right-of-use assets 220,404 -

Deferred cost of revenue, long term 125,643 113,793

Intangible assets, net 63,478 42,326

Goodwill 118,071 59,568

Other assets 5,755 1,567

Total assets $ 3,272,280 $ 1,847,800

Liabilities, Convertible Preferred Stock, andStockholders' Equity (Deficit)Current liabilities:Accounts payable $ 20,733 $ 12,012

Accrued expenses and other current liabilities 157,916 65,392

Developer exchange liability 117,756 80,912

Deferred revenue-current portion 1,621,186 1,070,230

Total current liabilities 1,917,591 1,228,546

Deferred revenue-net of current portion 550,118 484,699

Operating lease liabilities 196,447 -

Other long-term liabilities 2,293 22,109

Total liabilities 2,666,449 1,735,354

Commitments and contingenciesConvertible Preferred StockConvertible preferred stock, Series A, B, C, D,D-1, E, F, and G $0.0001 par value, zero and349,522 shares authorized as of September 30,2021, and December 31, 2020, respectively; zero - 344,827 and 337,235 shares issued and outstanding as ofSeptember 30, 2021, and December 31, 2020,respectively; aggregate liquidation preference ofzero and $335,654 as of September 30, 2021, andDecember 31, 2020, respectivelyStockholders' Equity (Deficit)Preferred stock; $0.0001 par value per share;100,000 and zero shares authorized as of September - - 30, 2021 and December 31, 2020, respectively; zeroshares issued and outstanding as of September 30,2021 and December 31, 2020, respectivelyCommon stock, $0.0001 par value; 5,000,000 and740,000 authorized as of September 30, 2021, andDecember 31, 2020, respectively, 578,471 and201,327 shares issued and outstanding as ofSeptember 30, 2021, and December 31, 2020,respectively; Class A common stock - 4,935,000 and675,000 shares authorized as of September 30, 58 20 2021, and December 31, 2020, respectively; 527,134and 144,039 shares issued and outstanding as ofSeptember 30, 2021, and December 31, 2020,respectively; Class B common stock - 65,000 sharesauthorized as of September 30, 2021, and December31, 2020, respectively, 51,337 and 57,287 sharesissued and outstanding as of September 30, 2021,and December 31, 2020, respectivelyAdditional paid-in capital 1,434,190 239,792

Accumulated other comprehensive income 112 90

Accumulated deficit (840,643 ) (492,290 )

Total Roblox Corporation stockholders' equity 593,717 (252,388 )(deficit)Noncontrolling interests 12,114 20,007

Total stockholders' equity (deficit) 605,831 (232,381 )

Total liabilities, convertible preferred stock, $ 3,272,280 $ 1,847,800 and stockholders' equity (deficit)ROBLOX CORPORATIONCONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS(in thousands, except per share amounts)(unaudited)Three Months EndedSeptember 30,Nine Months EndedSeptember 30,2021

2020

2021

2020

Revenue$

509,336

$

251,914

$

1,350,412

$

613,876

Cost and expenses:Cost of revenue(1)130,015

65,818

344,882

161,280

Developer exchange fees129,952

85,475

378,604

215,026

Infrastructure and trust & safety117,387

71,405

320,509

185,878

Research and development138,245

51,708

359,637

141,366

General and administrative51,584

16,168

243,637

65,433

Sales and marketing19,599

12,858

58,591

42,423

Total cost and expenses586,782

303,432

1,705,860

811,406

Loss from operations(77,446

)

(51,518

)

(355,448

)

(197,530

)

Interest income28

217

59

1,758

Other income/(expense), net(770

)

1,306

(1,810

)

(1,357

)

Loss before provision for income taxes(78,188

)

(49,995

)

(357,199

)

(197,129

)

Provision for/(benefit from) for income taxes(998

)

19

(976

)

25

Consolidated net loss(77,190

)

(50,014

)

(356,223

)

(197,154

)

Net loss attributable to the noncontrolling interest(3,188

)

(1,401

)

(7,870

)

(2,641

)

Net loss attributable to common stockholders$

(74,002

)

$

(48,613

)

$

(348,353

)

$

(194,513

)

Net loss per share attributable to common stockholders, basic and diluted$

(0.13

)

$

(0.26

)

$

(0.73

)

$

(1.09

)

Weighted-average shares used in computing net loss per share attributable to common stockholders - basic and diluted575,932183,454480,357177,771(1) Depreciation of servers and infrastructure equipment included in infrastructure and trust & safety.

ROBLOX CORPORATIONCONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS(in thousands, except per share amounts)(unaudited) Three Months Ended Nine Months Ended September 30, September 30, 2021 2020 2021 2020

Revenue $ 509,336 $ 251,914 $ 1,350,412 $ 613,876

Cost and expenses:Cost of revenue^(1) 130,015 65,818 344,882 161,280

Developer exchange fees 129,952 85,475 378,604 215,026

Infrastructure and trust 117,387 71,405 320,509 185,878 & safetyResearch and development 138,245 51,708 359,637 141,366

General and 51,584 16,168 243,637 65,433 administrativeSales and marketing 19,599 12,858 58,591 42,423

Total cost and expenses 586,782 303,432 1,705,860 811,406

Loss from operations (77,446 ) (51,518 ) (355,448 ) (197,530 )

Interest income 28 217 59 1,758

Other income/(expense), (770 ) 1,306 (1,810 ) (1,357 )netLoss before provision for (78,188 ) (49,995 ) (357,199 ) (197,129 )income taxesProvision for/(benefit (998 ) 19 (976 ) 25 from) for income taxesConsolidated net loss (77,190 ) (50,014 ) (356,223 ) (197,154 )

Net loss attributable to (3,188 ) (1,401 ) (7,870 ) (2,641 )the noncontrollinginterestNet loss attributable to $ (74,002 ) $ (48,613 ) $ (348,353 ) $ (194,513 )common stockholdersNet loss per shareattributable to common $ (0.13 ) $ (0.26 ) $ (0.73 ) $ (1.09 )stockholders, basic anddilutedWeighted-average sharesused in computing netloss per share 575,932 183,454 480,357 177,771attributable to commonstockholders - basic anddiluted (1) Depreciation of servers and infrastructure equipment included ininfrastructure and trust & safety.

ROBLOX CORPORATIONCONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(in thousands)(unaudited)Nine Months EndedSeptember 30,2021

2020

Cash flows from operating activities:Consolidated net loss$

(356,223

)

$

(197,154

)

Adjustments to reconcile net loss including noncontrolling interests to net cash provided by operations:Depreciation and amortization53,439

30,232

Stock-based compensation expense221,722

62,962

Change in fair value of warrants-

1,890

Operating lease non-cash expense31,936

-

Other non-cash charges/(credits)1,137

1,271

Changes in operating assets and liabilities:Accounts receivable77,086

(67,184

)

Accounts payable(230

)

6,163

Prepaid expenses and other current assets(19,501

)

(3,549

)

Other assets(4,188

)

1,359

Developer exchange liability36,844

21,623

Accrued expenses and other current liabilities38,098

10,430

Other long-term liability(1,022

)

2,221

Operating lease liabilities(24,055

)

-

Deferred revenue616,375

630,870

Deferred cost of revenue(134,532

)

(155,798

)

Net cash provided by operating activities536,886

345,336

Cash flows from investing activities:Acquisition of property and equipment(48,331

)

(52,262

)

Payments related to business combination, net of cash acquired(45,692

)

-

Purchases of short-term investments-

(5,991

)

Maturities of short-term investments-

54,000

Purchases of intangible assets(7,856

)

(451

)

Net cash used in investing activities(101,879

)

(4,704

)

Cash flows from financing activities:Proceeds from issuance of preferred stock for warrant exercises-

147

Proceeds from issuance of common stock62,278

9,654

Net proceeds from issuance of preferred stock534,286

149,669

Net cash provided by financing activities596,564

159,470

Effect of exchange rate changes on cash and cash equivalents45

51

Net increase in cash and cash equivalents1,031,616

500,153

Cash and cash equivalentsBeginning of year893,943

301,493

End of year$

1,925,559

$

801,646

Supplemental disclosure of cash flow information:Cash paid for interest-

-

Cash paid for income taxes-

-

Supplemental disclosure of noncash investing and financing activities:Fair value of common stock and unregistered restricted stock units issued as consideration for business combination$

31,274

$

-

Property and equipment additions in accounts payable and accrued expenses$

32,935

$

23,482

Conversion of convertible preferred stock to common stock upon direct listing$

879,113

$

-

Use of Non-GAAP Financial Measures

This press release and the accompanying tables contain the non-GAAP financial measures bookings, free cash flow, and Adjusted EBITDA.

We use this non-GAAP financial information to evaluate our ongoing operations, for internal planning and forecasting purposes, and ongoing operating trends for purposes of analyzing the covenants specified in the indenture governing our senior notes due 2030. We believe that this non-GAAP financial information may be helpful to investors because it provides consistency and comparability with past financial performance.

Bookings is defined as revenue plus the change in deferred revenue during the period and other non-cash adjustments. Bookings is equal to the amount of virtual currency purchased by users in a given period of measurement. We believe bookings provide a timelier indication of trends in our operating results that are not necessarily reflected in our revenue as a result of the fact that we recognize the majority of revenue over the estimated average lifetime of a paying user. The change in deferred revenue constitutes the vast majority of the reconciling difference from revenue to bookings. By removing these non-cash adjustments, we are able to measure and monitor our business performance based on the timing of actual transactions with our users and the cash that is generated from these transactions. Free cash flow represents the net cash provided by operating activities less purchases of property, equipment, and intangible assets. We believe that free cash flow is a useful indicator of our unit economics and liquidity that provides information to management and investors about the amount of cash generated from our core operations that, after the purchases of property, equipment, and intangible assets, can be used for strategic initiatives, including investing in our business, making strategic acquisitions, and strengthening our balance sheet. Adjusted EBITDA is a measure of operating performance used in certain covenant calculations specified in the indenture governing our senior notes due 2030 that is not calculated in accordance with GAAP and may not conform to the calculation of EBITDA in other circumstances. Adjusted EBITDA should not be considered as a substitute for net loss as determined in accordance with GAAP. We believe that, when considered together with reported amounts, Adjusted EBITDA is useful to investors and management in understanding our ongoing operations and ongoing operating trends for purposes of analyzing the covenants specified in the indenture governing our senior notes due 2030.

Non-GAAP financial measures have limitations in their usefulness to investors because they have no standardized meaning prescribed by GAAP and are not prepared under any comprehensive set of accounting rules or principles. In addition, other companies, including companies in our industry, may calculate similarly titled non-GAAP financial measures differently or may use other measures to evaluate their performance, all of which could reduce the usefulness of our non-GAAP financial information as a tool for comparison. As a result, our non-GAAP financial information is presented for supplemental informational purposes only and should not be considered in isolation from, or as a substitute for financial information presented in accordance with GAAP.

A reconciliation table of the most comparable GAAP financial measure to each non-GAAP financial measure used in this press release is included at the end of this release. We encourage investors and others to review our business, results of operations, and financial information in their entirety, not to rely on any single financial measure, and to view these non-GAAP measures in conjunction with the most directly comparable GAAP financial measure.

ROBLOX CORPORATIONCONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(in thousands)(unaudited) Nine Months Ended September 30, 2021 2020

Cash flows from operating activities:Consolidated net loss $ (356,223 ) $ (197,154 )

Adjustments to reconcile net loss includingnoncontrolling interests to net cash provided byoperations:Depreciation and amortization 53,439 30,232

Stock-based compensation expense 221,722 62,962

Change in fair value of warrants - 1,890

Operating lease non-cash expense 31,936 -

Other non-cash charges/(credits) 1,137 1,271

Changes in operating assets and liabilities:Accounts receivable 77,086 (67,184 )

Accounts payable (230 ) 6,163

Prepaid expenses and other current assets (19,501 ) (3,549 )

Other assets (4,188 ) 1,359

Developer exchange liability 36,844 21,623

Accrued expenses and other current liabilities 38,098 10,430

Other long-term liability (1,022 ) 2,221

Operating lease liabilities (24,055 ) -

Deferred revenue 616,375 630,870

Deferred cost of revenue (134,532 ) (155,798 )

Net cash provided by operating activities 536,886 345,336

Cash flows from investing activities:Acquisition of property and equipment (48,331 ) (52,262 )

Payments related to business combination, net of (45,692 ) - cash acquiredPurchases of short-term investments - (5,991 )

Maturities of short-term investments - 54,000

Purchases of intangible assets (7,856 ) (451 )

Net cash used in investing activities (101,879 ) (4,704 )

Cash flows from financing activities:Proceeds from issuance of preferred stock for - 147 warrant exercisesProceeds from issuance of common stock 62,278 9,654

Net proceeds from issuance of preferred stock 534,286 149,669

Net cash provided by financing activities 596,564 159,470

Effect of exchange rate changes on cash and cash 45 51 equivalents Net increase in cash and cash equivalents 1,031,616 500,153

Cash and cash equivalentsBeginning of year 893,943 301,493

End of year $ 1,925,559 $ 801,646

Supplemental disclosure of cash flow information:Cash paid for interest - -

Cash paid for income taxes - -

Supplemental disclosure of noncash investing andfinancing activities:Fair value of common stock and unregistered $ 31,274 $ - restricted stock units issued as consideration forbusiness combinationProperty and equipment additions in accounts $ 32,935 $ 23,482 payable and accrued expensesConversion of convertible preferred stock to common $ 879,113 $ - stock upon direct listing Use of Non-GAAP Financial Measures

This press release and the accompanying tables contain the non-GAAP financial measures bookings, free cash flow, and Adjusted EBITDA.

We use this non-GAAP financial information to evaluate our ongoing operations, for internal planning and forecasting purposes, and ongoing operating trends for purposes of analyzing the covenants specified in the indenture governing our senior notes due 2030. We believe that this non-GAAP financial information may be helpful to investors because it provides consistency and comparability with past financial performance.

Bookings is defined as revenue plus the change in deferred revenue during the period and other non-cash adjustments. Bookings is equal to the amount of virtual currency purchased by users in a given period of measurement. We believe bookings provide a timelier indication of trends in our operating results that are not necessarily reflected in our revenue as a result of the fact that we recognize the majority of revenue over the estimated average lifetime of a paying user. The change in deferred revenue constitutes the vast majority of the reconciling difference from revenue to bookings. By removing these non-cash adjustments, we are able to measure and monitor our business performance based on the timing of actual transactions with our users and the cash that is generated from these transactions. Free cash flow represents the net cash provided by operating activities less purchases of property, equipment, and intangible assets. We believe that free cash flow is a useful indicator of our unit economics and liquidity that provides information to management and investors about the amount of cash generated from our core operations that, after the purchases of property, equipment, and intangible assets, can be used for strategic initiatives, including investing in our business, making strategic acquisitions, and strengthening our balance sheet. Adjusted EBITDA is a measure of operating performance used in certain covenant calculations specified in the indenture governing our senior notes due 2030 that is not calculated in accordance with GAAP and may not conform to the calculation of EBITDA in other circumstances. Adjusted EBITDA should not be considered as a substitute for net loss as determined in accordance with GAAP. We believe that, when considered together with reported amounts, Adjusted EBITDA is useful to investors and management in understanding our ongoing operations and ongoing operating trends for purposes of analyzing the covenants specified in the indenture governing our senior notes due 2030.

Non-GAAP financial measures have limitations in their usefulness to investors because they have no standardized meaning prescribed by GAAP and are not prepared under any comprehensive set of accounting rules or principles. In addition, other companies, including companies in our industry, may calculate similarly titled non-GAAP financial measures differently or may use other measures to evaluate their performance, all of which could reduce the usefulness of our non-GAAP financial information as a tool for comparison. As a result, our non-GAAP financial information is presented for supplemental informational purposes only and should not be considered in isolation from, or as a substitute for financial information presented in accordance with GAAP.

A reconciliation table of the most comparable GAAP financial measure to each non-GAAP financial measure used in this press release is included at the end of this release. We encourage investors and others to review our business, results of operations, and financial information in their entirety, not to rely on any single financial measure, and to view these non-GAAP measures in conjunction with the most directly comparable GAAP financial measure.

Three Months Ended Nine Months Ended September 30, September 30, 2021 2020 2021 2020

(dollars in thousands) (dollars in thousands)Bookings $ 637,833 $ 496,485 $ 1,955,590 $ 1,240,232

The following table presents a reconciliation of revenue, the most directlycomparable financial measure calculated in accordance with GAAP, to bookings,for each of the periods presented: Three Months Ended Nine Months Ended September 30, September 30, 2021 2020 2021 2020

(dollars in thousands) (dollars in thousands)Reconciliation ofrevenue to bookings:Revenue $ 509,336 $ 251,914 $ 1,350,412 $ 613,876

Add (deduct):Change in deferred 131,439 246,567 616,375 630,870 revenueOther (2,942 ) (1,996 ) (11,197 ) (4,514 )

Bookings $ 637,833 $ 496,485 $ 1,955,590 $ 1,240,232

Nine Months EndedSeptember 30,2021

2020

(dollars in thousands)Free cash flow$

480,699

$

292,623

The following table presents a reconciliation of net cash from operating activities, the most directly comparable financial measure calculated in accordance with GAAP, to free cash flow, for each of the periods presented:Nine Months EndedSeptember 30,2021

2020

(dollars in thousands)Reconciliation of net cash from operating activities to free cash flow:Net cash provided by operating activities$

536,886

$

345,336

Add (deduct):Acquisition of property and equipment(48,331

)

(52,262

)

Purchases of intangible assets(7,856

)

(451

)

Free cash flow$

480,699

$

292,623

Acquisition of property and equipment primarily includes servers, infrastructure equipment and tenant improvements.

Nine Months Ended September 30, 2021 2020

(dollars in thousands)Free cash flow $ 480,699 $ 292,623

The following table presents a reconciliation of net cash from operatingactivities, the most directly comparable financial measure calculated inaccordance with GAAP, to free cash flow, for each of the periods presented: Nine Months Ended September 30, 2021 2020

(dollars in thousands)Reconciliation of net cash from operating activitiesto free cash flow:Net cash provided by operating activities $ 536,886 $ 345,336

Add (deduct):Acquisition of property and equipment (48,331 ) (52,262 )

Purchases of intangible assets (7,856 ) (451 )

Free cash flow $ 480,699 $ 292,623

Acquisition of property and equipment primarily includes servers,infrastructure equipment and tenant improvements.

Three Months EndedSeptember 30,Nine Months EndedSeptember 30,2021

2020

2021

2020

(dollars in thousands)(dollars in thousands)Adjusted EBITDA$

135,672

$

161,045

$

505,917

$

374,285

The following table presents a reconciliation of consolidated net loss, the most directly comparable financial measure calculated in accordance with GAAP, to adjusted EBITDA, for each of the periods presented:Three Months EndedSeptember 30,Nine Months EndedSeptember 30,2021

2020

2021

2020

Reconciliation of consolidated net loss to adjusted EBITDA:(dollars in thousands)(dollars in thousands)Consolidated net loss$

(77,190

)

$

(50,014

)

$

(356,223

)

$

(197,154

)

Add (deduct):Interest income(28

)

(217

)

(59

)

(1,758

)

Other expense770

(1,306

)

1,810

1,357

Provision (benefit) for income taxes(998

)

19

(976

)

25

Depreciation and amortization19,029

11,380

53,439

30,232

Stock-based compensation expense89,319

13,296

221,722

62,962

Change in fair value of warrants-

-

-

1,890

Accretion and amortization on marketable securities-

17

-

-

Change in deferred revenue131,439

246,567

616,375

630,870

Change in deferred cost of revenue(26,669

)

(60,356

)

(134,532

)

(155,798

)

Fees related to equity offering-

1,659

50,586

1,659

Fees related to certain legal settlements-

-

53,775

-

Adjusted EBITDA$

135,672

$

161,045

$

505,917

$

374,285

About Roblox

Roblox's mission is to build a human co-experience platform that enables shared experiences among billions of users. 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. (c) 2021 Roblox Corporation. All rights reserved.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211108005264/en/

CONTACT: Anna Yen Roblox Investor Relations ir@roblox.com

CONTACT: Stefanie Notaney Roblox Corporate Communications press@roblox.com