Roblox shares tumbled 12% after its March 2023 key metrics.
Roblox Corporation (NYSE: RBLX), a global platform bringing millions of people together through shared experiences, today released certain key metrics for the month of March 2023.
March 2023 Key Metrics
Daily active users (DAUs) were 66.2 million, up 26% year-over-year.
Hours engaged were 4.8 billion, up 26% year-over-year.
Estimated revenue was between $212 million and $223 million, up 15% - 21% year-over-year.
Estimated bookings were between $247 million and $255 million, up 23% - 27% year-over-year.
Estimated average bookings per daily active user (ABPDAU) were between $3.73 and $3.85, which represents a year-over-year change of -2% - +1%.
[1] They estimate that the impact of foreign currency fluctuations led to a reduction of approximately 2% in the year-over-year growth rate for both March 2023 revenue and bookings. Thus, on a constant currency basis, They estimate our year-over-year March 2023 revenue growth would have been between 16% - 22%, our year-over-year March 2023 bookings growth would have been 25% - 29% and the change in year-over-year March 2023 ABPDAU would have been between -1% and 3%.
Constant currency is calculated by converting their 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, they are able to provide a framework for assessing how their business performed excluding the effect of foreign currency rate fluctuations.
Discontinuation of Monthly Key Metrics Releases
This release marks the Company’s last monthly metric release. They have now published monthly key metrics over their first eight quarters as a public company. While they believe that has provided incremental information to investors regarding the seasonality of the business, they have decided to cease providing key monthly metrics to align their reporting cadence with their 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.
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