Q2 2024 Roblox Corp Earnings Call Transcript
Key Points
- Roblox Corp (RBLX) reported a 31% year-on-year revenue increase, reaching $893.5 million, surpassing their guidance range.
- The company achieved a record number of Daily Active Users (DAUs) at 79.5 million, with a 21% year-on-year growth.
- Roblox Corp (RBLX) saw significant growth in international markets, with Japan and India DAUs growing 56% and 57% year-on-year, respectively.
- The company reported a substantial improvement in free cash flow, reaching $112 million in Q2, compared to a negative $95.5 million a year ago.
- Roblox Corp (RBLX) has successfully implemented AI-driven efficiencies in their safety and moderation platform, reducing infra and trust and safety expenditures by 8% year-on-year.
- Roblox Corp (RBLX) reported a consolidated net loss of $207 million, although this was better than their guidance of $267 million to $265 million.
- The company experienced a flat year-on-year personnel expense, partly due to the consolidation of employees to their San Mateo office, which some employees could not make.
- Despite improvements, the company still faces challenges in optimizing their economy and search and discovery features.
- The CFO, Mike Guthrie, announced his departure, which could lead to transitional uncertainties.
- The company acknowledged that they had to implement measures to offset unseasonable growth rates seen in Q1, indicating potential volatility in their growth trajectory.
Good morning. My name is Pam. Welcome, everyone, to Roblox's Second Quarter 2024 Earnings Conference Call. (Operator Instructions)
I'd like to turn the conference to Ms. Stefanie Notaney, the Head of Financial Communications. You may now begin your conference.
Thank you. Good morning, everyone. Thank you for joining our Q&A session to discuss Roblox's Q2 2024 results. With me today is Roblox Co-Founder and CEO, David Baszucki, and our CFO, Michael Guthrie. Our shareholder letter, press release, SEC filings, supplemental slides and a replay of today's call can be found on our Investor Relations website.
Our commentary today may include forward-looking statements, which are subject to risks, uncertainties and assumptions that could cause actual results to differ materially from those described in our forward-looking statements. A description of these risks, uncertainties and assumptions are included in our SEC filings, including our most recent reports
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