Roblox Corporation (RBLX) Q1 2024 Earnings Call Transcript

For the period ending March 31, 2024

May 9, 2024 8:30 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Good morning. My name is Tamika and I will be your conference operator. At this time, I would like to welcome everyone to the Roblox First Quarter 2024 Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers’ remarks, there will be a question-and-answer session. [Operator Instructions] As a reminder, today's call is being recorded.

I will now hand today's call over to Stefanie Notaney. Stefanie, you may begin.

Stefanie Notaney

Good morning, everyone. Thank you for joining our Q&A session to discuss Roblox's First Quarter 2024 Results. With me today is Roblox Co-Founder and CEO, David Baszucki, and CFO, Mike Guthrie. As a reminder, our shareholder letter, press release, SEC filings, supplemental slides, and a replay of today's call can be found on our investor relations website at ir.roblox.com. On this call, we will make some brief opening remarks and reserve the rest of the time for your questions.

Our commentary today may include forward-looking statements, including but not limited to expectations of our business, future financial results, and strategy. Forward-looking statements 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 are included in our SEC filings, including our most recent reports on Form 10-K and Form 10-Q. You should not rely on our forward-looking statements as predictions of future events. We disclaim any obligation to update these statements, except as required by law.

During this call, we will also discuss some certain non-GAAP financial measures. Reconciliation between GAAP and non-GAAP metrics can be found in our press release and supplemental slides. With that, I'll turn the call over to Dave.

David Baszucki

Hey, thank you. Hey, welcome all the Roblox investors, new investors and long-time investors. And we're pleased to be here with you to report on our Q1 2024 results. We continue on our mission to connect a billion people every day with optimism and civility around the world and we'd like to report in on our progress.

In Q1 our DAUs came in at over 77 million daily people on our platform with year-on-year growth of 17%. Our over 13 DAUs were particularly strong growth at 22% year-on-year. And we continue to highlight the growth of our platform around the world with Japan, which is a key gaming market growing at 50% year-on-year and India which is a huge market growing at 58% year-on-year.