Roblox (RBLX) 9 May 242024 Q1 Earnings call transcript

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. [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.

everyone. morning, Good joining quarter for session discuss to Thank results. our first XXXX Roblox's you Q&A With Roblox's today Mike me is Guthrie. and David CFO, Baszucki; Co-Founder and CEO,

slides press As remarks be can and brief of call, our at rest SEC shareholder we reminder, website on replay the letter, reserve Relations your On a filings, today's the our found questions. supplemental time opening ir.robox.com. and Investor call will a of some release, for this make

statements, including, our forward-looking not Our limited results of commentary include today expectations but business, and to, may strategy. financial future

Forward-looking recent that included forward-looking are statements materially on Form and reports statements. A results are from subject cause differ most these of in to Form risks, XX-K our uncertainties and to our description XX-Q. could SEC assumptions those filings in described our actual including

You our rely We required any statements obligation of except predictions update on by disclaim as as future these statements, events. to law. should not forward-looking

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

you Hey, report XXXX investors, welcome all with and our investors investors, on we're you. pleased be results. here new and QX to Thank longtime Roblox's to

progress. In people million We of growth our people the XX optimism our platform and report DAUs connect world, to over continue civility came our at daily and X our QX, to every with on on XX%. it around mission in billion day with on we'd year-on-year like

world huge at market India, XX% a of our and we which at growth with XX% the And growth to XX% were year-on-year; is continue highlight strong, particularly over around is growing the growing a key Japan, which DAUs market year-on-year. at XX Our gaming platform year-on-year.

that's hours' million, of was Japan than million. the and XX% grades $XXX million which in in growth year-on-year, very $XXX and again, XX.X India. strong guidance strong engaged higher Revenue quarter $XXX that very and to year-on-year around range world, over the including XX were And was XX% growth. growth once billion Our countries is our

to was number our with focuses bookings loss. $XXX a Our dive that which that want bit and but into we that in million, to efficiency going That highlight be expected wanted million, is and year. number operating our million bookings XX.X% a to that I consolidated which we're were the range $XXX.X and and guidance on had, do the middle cash of net to to represents our light big we've of higher, in came year-on-year one $XXX of growth,

million was QX $XXX million. of net accounting, was loss And net Our relatively based a our year. last guidance million $XXX to with of on loss GAAP $XXX of flat

was remarkably less than this of GAAP So loss a that.

to our continue efficiently manage to CapEx. operate and We extremely

better through huge performing costs. our and our these of and going and and of and quality better the the we've trust platform these trust the actually safety, up optimized reduced gains infra in efficiency, was and internal net safety. quarters -- more flow million, QX up cash flow X all past in XXX% which in XXXX. The XX% operations cash generated cash is was Our free was cash year-on-year. XX% of infrastructure, QX $XXX at in from million. flow on we This And $XXX Well, we've way AI, made we've there, than free all up the use areas our efficiency

down live team our our XX% size that we're in faster count. AI year-on-year personnel ads and increasing quarters highlight been we our what we're how which growing our our is trust and at On than last over started consistent we how quality while focus growing again, the been We've count, of we X hiring side, the continue less while bookings economy Once getting quarters and growing the theme -- very thoughtful team. I events and path. personnel we want head continue to the X% growth. QX infrastructure, bookings operations just ago, we've X and to other XX.X%, head on safety relatively team, safety areas, on

So we'll continue this.

will those but -- of that DAUs you on grew watching want QX bookings that So us, our see you a faster few -- see comments you this. than hours. I in in make can to

less we people of we QX and that report general very from. First, number, we to don't platform did is number believe continue We where the highlight strong. expected, wanted being to coming we see on our growth but see we this the in

are see bit year. to in more. near some this. months new show the the and improving up we a QX, tech about last the last and bunch drag out we and in low-end this spent starting voice, end to off, started we This really we shipped up believe, talk stack, dynamic clothing, anti-cheat, in even and of second QX, rolled analyzing of expanded half with we'll this First We Android, X a and of especially the layered heads, down

a thing we'll lot first bookings, half was of enhancements in discovery with of and we'll to north on QX, other lot we've come amazing and talk April velocity our a back just last search midst growth over we've May, and once hour DAUs platform X also new that of about the the content highlighting last system believe, of that you. We've taken I our live the again, X want And last our XX%. The talk -- expansions optimal. And the and last of months, in the in Canada content economy months. of made highlight, really of and done new our amount seen is, of over again, bubbling of and USA a ops great a up of to on lot not we've and content about, once we around our stuff the the half steps velocity

for we going see be to as QX And on those conservative not only have primarily more that's because of we data of improvements. from that letter, our weeks will showing our these Now read numbers. you are that full X guidance, have in you our

internally conservative I bit And and And once again apps we'll forward or want our going we AI looking continue be on. be plan, guidance guidance XXXX a at our will going and going live to cash implied lowering bit. Mike to in hiring advertising safety are we'll about with live and on that. That year. We're more which changing a going talk our have efficiency growth economy we ops. is free not on track. So operating flow lot adds, to a said, also highlight of highlight the in for content

detail to So X we over in we're have discovery, improvements months. optimizing really just short-term a done highlight DAUs, of health long-term and want as work well. some on the more here bookings and optimizing not be is hey, And platform here lot the last but

of the our seen picks. of you've over home the we X to that call curation you those watching top an page, months, are last addition For homepage, which

we've which to core And mix be You've more than to it increasing creators well. platform, stronger ago. is the also on purchase those content. continued our X We traffic discovery is to of our algorithm want bigger X there. And we've creations adjustments seen on for upcoming that in a who as also new and is sponsored, impressions. And share was months make new of to position a to over come moved our ML much the believe months; platform last the velocity and of this much start

during weeks The you've ran of aggressive a our Hunt, thing live the Easter. saw diverse We ops of The all the and before the incredible other is live more content event. The an we the going reactivation probably engagement, seen ops of X loves bringing notion XXXX event philosophy. we're continue into this. the a of last months there few a lot And over of and first together over introduction to rolled-up community first

look probably Xx, you I've feed, interested in is my Twitter this X if the most by to I next say, interest, my our of engaged For seeing event. done. you would And I ever think hinted at I those tweet at

as and the We've really also as which a economy much our those marketplace, pricing is starting far to to our that as as I utility And our our launched in UGC been at healthier as creators growth adjustments both platform. we the to price many as we've tooling February, possible. -- X we've want through from to gone to utility as optimize we this weeks, has people that on On economy, users and team dynamic our really once hard contribute creating that XX% the well on working again from work, economy, our is virtual seen. Canada bookings floors launched items. And economy, from of driven to our side how last highlight utility U.S.A a want economy in

fonts, And plug-ins, we've no to images, try all a us so building profit the need people in to really our to creator decided there's XXX% net for just because make them store, tools, for proceeds of there. we -- message,

our UGC, Finally, for of vision the everything being we call that all. marketplace long-term UGC in

cohorts opened last our step a well for on lot to diving perf more and have around proof We've launched rest on the quality, which granular analyzing There's as of been Over a creator the of especially we in done platform. a as some our and been Avatar's set community. Highlighting forward that. showed low-end create in it's work market the around on. more to of performance much and big weeks, of creators, of focus few we've huge devices, in Android brands and up, clothing our a the we've accessories metrics

significant the Once improvements, low-end graphics measurable on that's made These results, enhanced devices. made we've most Android. spend. quality we've Windows And and have again, in also DAUs frame directly stability are significant some of We higher-end well. our on as in rate difficult devices. improvements, especially Also

So which to X of back XX%. to we've Canada been also has effort, this on -- heads weeks, down really that contributed we north U.S., believe last

we On material will year, and forecast. haven't that's shared why this the the advertising, not which be

have April. Walmart April on test partnership with We did And track XX. a forecast. we are our with shopping few in our announced PUBMATIC been We things exciting first We have done April. that in our with on real-world

on more site our be manager, tests just excited ads our units lot to self-serve rolling out. And available our much finally, a through supply video to because there's advertisers on so that about and in really we're opportunity X, ads portal May we Roblox and have type all visit there. of would video the on of We announced addition these of

critical fronts. our advertisers. events the a our sales has solution lovely that. really play on team with we've which the started attending been brand fronts side, measurement, some new and had and in results We've brought On direct to measurement like KANTAR independent We've is less

the of welcome ad welcome live ops I just to also, at the And brand end We to ad Westby, team quarter, have built on had, YouTube. our engineering this on tech David want the who Google, activations. talent XXX Could a cumulative from side. by engineering lot product David over more of

that of train, companies side, and AI allows you this tracking there On more them the seeing of our are that creation data. build they there to and have types more their we're own that for training those really leverage data certain is are some AI critical. for And data that still out optimize solutions

We have enormous an amount of at Roblox. data

of and lot a data. trust have safety We

of We more lot proprietary own have users. starting all And on in our objects built data. building to building people writing XD into we're our this concert with lean code AI and and platform and data of a really more creation

assistant to in objects. to allows standard Setup, to finally, and necessarily for which industry simulation to we've launched our Earlier turned absolutely QX interactive not yesterday Avatars. And assist year, just or AI are help who in which stacks models Generator, which Auto we have code out I an rolled automatically optimization highlight we XD code tool roll we ago, those So be animation tool better or better It's into facial to avatar we amazing. continue day were XD is and rigged went Roblox our few a ready as from still in-house your out Open continues on devs well, code that early. text AI generative in is are which a built. this creators This want we increase Alpha, quotes efficiency, believe generation mentioning and efficiently and X% a tool. very I call of own things, this Texture and tools is get a we Avatar We live AI full

we since run Finally, voice to that which on keep our foundation well we've high-performance on stack all platform, built are on as help our safety has got done using own type in really the moderation better. the AI and and been AI models and of every our up helping the We're asset voice the we've down get platform. continues us started the mentioned, everything increasingly better we of using really platform infrastructure, safe, as to as

That ], saw in Synopsis last Canada exceeded QX, all with done on than less X growth [ and in we've to we said, flow margins So targets this. the weeks response is in cash we we our the expected. which QX, U.S. work

growth We then to while and transparent, AI be and guidance we it that deliver cash continue decision in content, very are the hours we will implied free our on back and to in ops Q&A. bookings, want groups. With we'll I'm to operating believe to safety going to last over judicious And our quarter, of live north to flow we we responsible Mike, and adjust same we XX% economy DAUs. our have difficult is made that the turn very internal making But hiring conservative that, bookings guidance. why and

turn and Pages I just website. Dave a the attention Dave. Thanks, want And to in said. supplemental reiterate XX which couple everyone's of are our that IR things materials, to just to XX on

up of number the less manual XX, mentioned, safety, across that reflects intelligence, course just last over the was Page during cash cash we in infra, XX.X% we how generate also of curve for see the you'll head cash of count million, year. dynamics. Dave bookings and continue a count on from all-operating operations, $XXX and really trust last almost by this growth, shape about On really quarters. Operating Also primarily the artificial keeping more and on XX, how moderation good to this of flat Again, flow leverage the using requiring quarter Page significantly head the year. less leverage. that's metric leverage as X over operating on moves flow -- So shows

is quarter. normally highest our So QX

working in, comes in We flow QX. have a big capital inflow from holidays cash that the Christmas

QX, that So collections high. down. are number goes

our You curve the well. minute of a QX in but about guidance. shape will roughly QX in talk stay and can expecting growth We'll good growth, for year-over-year that and same, we're see is the solid as the

now well as leverage turn significant capital cash data to last is number that Page $XX XX, we free is all about less expenditures talked what million place. same of the QX, see this in you year. that second both time versus million are reduction combination you'll capital flow If $XXX and operating the in the center a as expenditures our infrastructure, in That

about So Investor we're through a Day CapEx cycle. We November. at this talked in

leverage. than the produce And This put really year our at we've guidance, on of So cash generated in big year. be the what cash need free is dent for significantly last rest look we a to we target. you strong to more if

covenant now to to referred EBITDA. giving adjusted everybody your EBITDA look you guidance, to and we here -- loss adjusted at that models, is all in the as parts, back net As rather if it about consolidated constituent letter, the that that calls. we're in before you we what and We're are deferrals adjusted talk your relates so happy we guiding change are shareholder had do add what prior to adjusted and on to have bookings, EBITDA revenue than in EBITDA take number But your fit will the with model. the

operations, to we'll solid comments for and from moderated then basis the full cash over again, forecasted on free a questions. the that, flow year-over-year cash a have and turn good with strong growth stop We in CapEx it year. And and looking

of come Company. will with question & first McTernan the our And line Bernie from Instructions] Needham [Operator

Great.

Just me. two for

the but are Hunt coming, have doing but content hitting search maybe that's ops, And how had? live the good the for that platform? event pace for seeing the platform you what's or are changes how suggested much and year, of pipeline then that the and a many of accretive you the a events any understand of benefit the Dave, makes is kind sense ideas on quality there would in First, that you discovery, commentary next

saw QX in say, market I we QX XX say, velocity new highlights we also, saw general Yes. than gaining would QX. QX, distribution top more new content in more way, of we share. the a content first, believe, I'd distributed In I entering than is more of in experiences our saw in -- which

this So believe, I is, working.

you in have the -- On dig figure X be what Twitter, you it's be if say be, one. the into events, expect going and would it's next to X full thoughtful we event, to announcing to but schedule, out can I between you months, every we awesome. can and going do to The

our the content we many, X platform, of these a which highlighting distributed key actives. daily these of of wide ways of many content So hitting of of strength think do are pieces million is range north

And our come with I so good yes, this more like is events. stuff to think

the with Your line next question of is Crum Drew from Stifel.

rate to then a 'XX, this? previously -- endorsed what's the XXXX for XX% engage. you around but So in and sense at of appropriate XX% KPIs trending target? you X for adjustments still some going mentioned DAUs performance continue quarter, Any for year-on-year consecutive growth recent rate outpaced hours bookings has is XX% quarter KPIs you've I a know only had year-on-year XQ 'XX. which forward? And growth driving through the Is other was the an made this for change it's for second performance expect with you your as year-on-year. for But trend like longer-term bookings the of to lastly, least it

that really refer want that in of bookings. on those in marching things drift the one Yes. hours QX platform the and versus in weren't numbers just -- on DAUs one, hour, which as where general we I'll first numbers DAUs, also numbers, people XX% comment generally And that at our highlighted that and bookings, wanted and I step engagement and all which internal hours. is we saw signs we to we of was between

So in seen U.S.A. weeks, kick not the arguably all north We those over our of Mike. we're we've number, to north which it numbers want well. those that XX%. of is XX% and Canada, it And all last as be to numbers X mature to I'll of X market, DAU the of guiding most --

DAU Yes. the have quarters, up, bookings couple bookings which Drew, of payer gone over good. is per per the last and

than that's percent, -- of in this couple monetization payers' generally, X,XXX So higher quarter. There's And movement tend pretty platform. than always higher as growth to X% It's bookings isn't The healthy bit flux has season, a enormous. a hours. on has been driven the past of spend more trend. little they that a number

many So payers payers relatively in are new versus then a on But seasoning there's the payers always new are longer-term numbers are or close between many year-over-year how payers. and a how balance many coming how becoming basis.

But So than to point, bookings much or bookings pretty hours quarter, than will numbers is any Dave's in faster be think pretty to lockstep. grow much for can X,XXXs goal those them our given lockstep. But we generally, hours. in X,XXX in can move grow faster

advertising That's really Canada India complemented fully we're in enormous Roblox then by may at of it's our because out goes imagine look and within conceivable bookings right growth DAU monetization, that up the both monetize the going hour you like U.S. not less. have advertising that per we to and could are market. see far layer you into there, forms And if some other countries tapped now, in as the U.S. to

some bookings they'll driving numbers, both per our have driving we hour other each and other. and forces So complement DAU forces

of of is Dessouky, the next from line question Bank Your America. Omar

not Desousky. 'XX Dessouky, the didn't Investor the the Were for you of about you thought about answer it. you in -- that hear response? outlook kind talked prior guys did XX% had sorry I I question that asked the to in analysts if I'm 'XX. It's Omar Day

right beginning of absolutely QX what it. No,We in that is answer believe Yes, kind of a has believe the and now growth without business we still potential. encouraging, didn't -- growth Like kind we still the that forgot to we we're has business doubt. potential the of seeing that

Okay.

be a kind that mentioned, think Is 'XX, the you PlayStation should So like calendar of -- can then 'XX, one-off versus on any and give factors of lapping about due you advertising. guidance color by the is growth like that we to Easter. how more driven as in would core much such it's the lower there

north I north XX%? XX%, outlook of the of you've the is kind think said still that in past of that

Yes.

at of Has advertising versus your thinking for changed all years? core those like out

the -- core Thanks, Omar. for guidance year give we to think We're on thinking guidance give early the 'XX, business when next will advertising we I versus No, has changed. will on the out don't give on we going year, first time. ads

a what we've and going that QX half half first we really the year we're we'll believe year. is foundation have year, on PlayStation, enough and So to of year. The decline done momentum believe lapping our to the year, to growth applied guide highest of and on small had this taken the implied for We for of we that quarter back we've our was that. growth like just a next which the rate based by of it do number with this is obviously half things which of year the be second last guidance

what in the points the is first So to the half XXX of implied than is of year the growth year. XXX guidance lower half ultimately, basis by about back of

seeing other business believe going what the forward, we November. that we to talked the today, we're rates core the again, on about at last hand, we can continue grow On based of kind

rate, thinking of overall business how more we're 'XX. 'XX, as driving the we're increment overall still growth one but in that XXXX, about is the be that growth nice will not rate advertising the is It be about a that and but thinking contributed will the to company. eventually So XX of substantially

more for me. one just question And

guide, staying have your 'XX it to plan yet a said leverage. is math cost pulled little the seems investments, changed? changed, why appear than million, calendar $XXX So do just the to have same, don't looks came not about you've top I make quick Or down and plans margin EBITDA you on it before? like you lost as have the like-for-like EBITDA if less Has your on is the by the that margin to fixed back investment line

Omar, unchanged. in So had cash X%. profitability, and leverage just That had operating business, EBITDA, the that we've numbers for guide is is top you're the by the a And because flow have number down yes, line about right, remain while. we

you leverage. And we our had we we If at that that's free and we've something leverage November, forecasted operating is certainly being already on trust as the this look talked coming which were flow last and been And X cash we to getting going continue about it's but through as because seeing on cost, flow we're that we count. on last have fixed quarters, doing, down, head year. to expect safety CapEx by and are very then infrastructure, careful what well to see that the side, is about

in we the a a operating of So generating and be amount in are place are of right enough good in same the X% very company cash the expenses cash economics flow that and lower. high, we've CapEx now that's to said about on we ability or cushion to able deliver unit forecast the flow and guidance the had the

line Your is Carpenter JPMorgan. Cory question of the next from with

for know of on you Mike, but and in drove to hoping the the was with start else bookings could a anything bit the follow-up north potentially you slowness, I XX% low-end XQ. you mentioned Android what to a quarter. Canada mentioned call out. And U.S. I clients expand engagement as you think

XX% bridge XQ the gap there? implies growth. you the guide us bookings I just Could think help

up And biggest driver and we raw The Yes. performance. The the biggest shipped year. time I'll stuff to on we factors believe to a And that of drivers. was our growth -- is an go show -- friends. QX in or first our platform, huge below started growth on be measurement just of the play frame combination long on all this These lot the arguably a speed we the in or of threshold clear, to QX. second QX. time of QX rate is the of to one of the of experience, in half platform finding second for without several interruption and the experience, are a join half ability drivers

out systems voice also more of camera, Once Avatars we've on also, the that using rolling high-end acquisition devices best performance Hyperion lot users We clothing. layered half year of on users the and more lot the industry. our tuned these our but platform. started of -- more complex of and with users arguably things. use of anti-cheat well. mobile with dynamic over We the And low-end our more again, our just of use of a one track users QX our and the A a in devices, second the with of collections lot And of of is as heads are critical stuff. all

X the north is group. user we our weeks could happening QX, simulation I'll to engine go core specific It's would being refresh Canada at second and hand It's group. stack. you if a the in of So and -- more finer we our in last our in been client measuring been recovery this happening has measuring been up creator users, that. saw tooling down happening contributing least the It's the say been now We're have can our cohorts. large, what Mike, U.S. handle focused half effort and I on We're of you perf group. believe XX%. And question, we on Mike,

The encouraging. Yes. we're the weeks X-plus Great. is obviously last seeing activity in

so in of the we've half what So the May. month seen and of back April far

reflects to couple the a account for is April. the of One take guidance you things. Our into have quarter first half of

April pretty significant in it our did XX, right So was start the numbers. improvements around really

numbers. the and what April gives through that So forecast to and the embedding our half the that cautious quarter. month seen weeks the for those of we month X for means have June second the us first roll we May half as with of then And the the be we've

thing last context the back lower great of do Again, not half we into to And give that just that weeks, but more to the quarter, rate rates, some it in the that. same growth So growth the sense. like with and QX much felt the providing doesn't ourselves no was to year. for prudent and guidance QX of sort and prudent extrapolating see it's of QX just It's discounting the with X make cushion.

thoughtful year rational to about the trying guidance the we're hit and So to it at and full be make that ends X%. Does up about being very sense? overall

helpful. Yes, that's

is line with question of Lampen Clark BTIG. next Your from the

a visibility the I lot little a challenged content. developers. to engagement point side moderating got the of versus Was and wanted of user the sort have new of both around bit back content, developer one good David, more around I come platform less to new a the maybe or payers on really X. other. on function ] of user [ We've that with active so

there about curious of Just you the would little if side, would on guess, I think users? moderation you developer if differently addressing that bit a was, it than

day really interactive the already this who a creative the but of on Yes. CEOs X, we some actually we studios creating have entertainment foundation people the creators having future of with most just arguably Yes, really XX, content It's And of are process is of are not XX there. arguably some -- the or hundreds environment. What the now. in right developer exciting. a the of platform top the our platform on

amazing sure growth business. the some And of example, want to necessarily these supercharge by We they to if platform to to to, our enough the for health optimize are distribution of the but XXX of seeing all top is do long-term building seeing really top of creators not their more action is creators focused, business. have long in those content those, tail, amazing collection some more our making are and their continue huge not need we in XXX, too a our What experiences.

on seen the QX the we've not get So in the we've or placement too, of not our content again, work that top seen done, ability a think, flatter just curve to adjustments with once with more distributed. just focus We've curve algorithm with I with platform picks our sponsored little long-term and the not help. buy and just

Hunt amazing most example, platform those some is the where also thing The creators, of on and of discovery live featured events. as scenes creators event behind XXX part the for experienced XXX was other The the all a users our our experiences. content of Hunt,

on -- their arguably there's last are say, quarter belief think up more, building with to and people and creations content, a in creators There's the had great new already XX coming, XX our X than platform. new the seeing we're that creators on out coming already into there lot businesses I I QX. top amazing is of our in would team So we

launch sort been whatever I XQ? had maybe community of initiatives guess, provide guys in any thinking you terms back in or for pipeline of Understood. sort more about sort you back half quarter Have had that approach plan a those XQ about, to forecasting of about, also there guess, the the I think as Mike, sort year. guess, we of of product talked any walked been, of maybe a of or economy I the sort of in to Has prudent last the way moderation initiatives? commensurate to

continuing I The we advertising to pipeline that. a comment we're on drive -- want that. stuff of to lot have economy, and and the in on

other I and highlighted, We coming we integration of rolled dynamic on the the out video. advertising rolled homepage platform. in-game have out rolling Just price around advertising, things we search We're as just inexperienced floors. sponsored out -- on more

there. In quality and the there. that raw on to So other you're our company of and going of see velocity areas performance for drive continue the see you'll to quality perf simulator, continue

a we AI ops side, think the market to work And it's side, be also events. you'll and and the content I of continue on selective. live And to these see bringing So we'll highlighted lot on there. things I have

We're focusing areas on while safety. quality. adds, and continue economy company of little perf AI a to drive bit other we're focusing the on bit So a

At we this time, question. X have time more for

Your with next question comes Eric from ROTH Handler MKM.

questions Two actually.

platform? First, branded monetization over huge seen months, does you've nonbranded the I'm the traditional last engagement and compare those inflow curious, the branded And on experiences. XX how to experiences XX of the content a to that's of

experiences. for with on anecdotal long-term don't top XX, level without top not our you our engagement Yes. that's these are played Roblox, that just then, top by a and have or any week And XXX, metrics. times of players. years month are branded necessarily XXX of go some for high any. are And games many expectation sometimes our if Mike, years and There know experiences I experiences I'll day,

playtime to movie and can typically on where research, would the are print with Gucci ultimately what time. That the engagement. interactive our our video whether will again, longer do experiences of of or trailer. try deep on more Although it's movie brand. platform. adidas And engagement very experiences longer than a branded experiences These video be together, image, shop interact said, branded trailer over relate. Lamborghinies something we time, much more or different an really more have Once and and friends dwell engagement expect things happen there's or the And that than with like is

So than around video. Mike, numbers, would that? I the share if any much there's engagement higher know is don't we

that hard No at this would we share numbers, time. Eric,

to on the experiences, in of individual the early it's learning each experiences. think and content those build are how I They're platform.

done engaging are So very our about, created others all looking those not experiences incredible and they're at some and job and and kinds of still experimenting metrics is learning them have they're an platform very, yet. of what

I think have Eric, just early a said draw any you to it's second? conclusions. And So you

Yes.

in of been very, the early, and So How do products they scale? that the it's few that you've with days only still X knowing you digital broader recognizing out months. in did very before beta X Discover, go did on is but you it's the going? long was live How you think sell. have a is sort And Walmart you real-world to -- this that advertising

year the advertising, we're is and this focusing portal video. -- to want on We

and of physical attribute way measure the buy in stuff. it's in about partners success excited world our are partially shopping, We ads addition their for to a to because

with Shopping So together or does it revenue or an hide to playing you're just corporate 'XX you're Roblox early. seek & where point future not is on our in it's socializing being or will we on people 'XX. But in in see together buying physical believe future expected way be that then friends things without over to time, people is And we forecast more going shop going very Roblox. and for with any a shop to as what you're really We're models items trying playing XD of what friends we're World a when do new think time exciting dates, part in of or or over any whatever, -- that of together.

partner that retail start I of that and first is just scale we're Walmart to really like like the something partner add and perfect sort Eric, Walmart, in this. of brand thrilled would the quality company off is a the And the

So earliest Roblox we're commerce of really platform like someone the with and thrilled to signals be getting the indications on Walmart.

Tamika over Thank today, it turn this to you for to out. I'll joining close us and

Thank you. for Thank participating. conclude call. you That today's does

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