Roblox Corp. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Roblox Corp. has submitted its annual 10-K filing for the fiscal year 2023, detailing its financial performance and business operations.</b>

AI Summary

Roblox Corp (RBLX) filed a Annual Report (10-K) with the SEC on February 21, 2024. Roblox Corp. filed its 10-K report for the fiscal year ending December 31, 2023. The filing covers the period from January 1, 2023, to December 31, 2023. The company's principal business address is 970 Park Place, San Mateo, CA 94403. Roblox Corp. is classified under SIC code 7372 (Services-Prepackaged Software). The report was filed on February 21, 2024.

Why It Matters

For investors and stakeholders tracking Roblox Corp, this filing contains several important signals. This 10-K filing provides a comprehensive overview of Roblox's financial health and strategic direction for the past fiscal year, crucial for investors assessing its market position. Understanding the details within this report is essential for stakeholders to evaluate the company's growth trajectory, profitability, and potential risks moving forward.

Risk Assessment

Risk Level: medium — Roblox Corp shows moderate risk based on this filing. The filing is a standard annual report, which by nature contains extensive financial and operational data, but lacks specific forward-looking guidance or immediate significant disclosures that would elevate the risk level beyond medium.

Analyst Insight

Investors should review the detailed financial statements and risk factors within the 10-K to understand Roblox's performance and outlook for 2024.

Key Numbers

• 2023-12-31 — Fiscal Year End (Conformed period of report)
• 2024-02-21 — Filing Date (Filed as of date)
• 001-39763 — SEC File Number (SEC file number)
• 24656516 — Film Number (Film number)

Key Players & Entities

• Roblox Corp. (company) — Filer name
• 2023-12-31 (date) — Conformed period of report
• 2024-02-21 (date) — Filed as of date
• 970 Park Place (address) — Business address street 1
• San Mateo (location) — Business address city
• CA (location) — Business address state
• 94403 (postal_code) — Business address zip
• 7372 (industry_code) — Standard Industrial Classification

FAQ

Industry Context

Roblox operates within the online gaming and metaverse platform industry, providing a platform for users to create and share experiences.

Regulatory Implications

The filing adheres to the reporting requirements of the Securities Exchange Act of 1934, as amended.

What Investors Should Do

1. Analyze the financial statements for revenue trends and profitability.
2. Review any disclosed risk factors for potential business impacts.
3. Compare key metrics to previous fiscal years to identify performance changes.

Key Dates

• 2024-02-21: 10-K Filing — Submission of the annual report for fiscal year 2023.

Year-Over-Year Comparison

This is the initial 10-K filing for the fiscal year 2023, following previous filings for earlier periods.

Key Financial Figures

• $0.0001 — ed Class A common stock, par value of $0.0001 per share RBLX New York Stock Exchang
• $40.30 — al quarter (based on a closing price of $40.30 per share on June 30, 2023 as reported

Filing Documents

• rblx-20231231.htm (10-K) — 2480KB
• exhibit102-equityincentive.htm (EX-10.2) — 552KB
• exhibit191-insidertradingp.htm (EX-19.1) — 86KB
• exhibit211-listofsubsidiar.htm (EX-21.1) — 10KB
• exhibit231-repx037auditcon.htm (EX-23.1) — 2KB
• exhibit3112023.htm (EX-31.1) — 14KB
• exhibit3122023.htm (EX-31.2) — 14KB
• exhibit3212023.htm (EX-32.1) — 16KB
• exhibit971-compensationrec.htm (EX-97.1) — 36KB
• rblx-20231231_g1.jpg (GRAPHIC) — 141KB
• rblx-20231231_g10.jpg (GRAPHIC) — 138KB
• rblx-20231231_g11.jpg (GRAPHIC) — 75KB
• rblx-20231231_g12.jpg (GRAPHIC) — 47KB
• rblx-20231231_g13.jpg (GRAPHIC) — 49KB
• rblx-20231231_g14.jpg (GRAPHIC) — 47KB
• rblx-20231231_g15.jpg (GRAPHIC) — 51KB
• rblx-20231231_g16.jpg (GRAPHIC) — 134KB
• rblx-20231231_g17.jpg (GRAPHIC) — 70KB
• rblx-20231231_g2.jpg (GRAPHIC) — 229KB
• rblx-20231231_g3.jpg (GRAPHIC) — 79KB
• rblx-20231231_g4.jpg (GRAPHIC) — 100KB
• rblx-20231231_g5.jpg (GRAPHIC) — 243KB
• rblx-20231231_g6.jpg (GRAPHIC) — 118KB
• rblx-20231231_g7.jpg (GRAPHIC) — 105KB
• rblx-20231231_g8.jpg (GRAPHIC) — 107KB
• rblx-20231231_g9.jpg (GRAPHIC) — 127KB
• 0001315098-24-000026.txt (&nbsp;) — 18827KB
• rblx-20231231.xsd (EX-101.SCH) — 91KB
• rblx-20231231_cal.xml (EX-101.CAL) — 129KB
• rblx-20231231_def.xml (EX-101.DEF) — 474KB
• rblx-20231231_lab.xml (EX-101.LAB) — 1150KB
• rblx-20231231_pre.xml (EX-101.PRE) — 786KB
• rblx-20231231_htm.xml (XML) — 2103KB

Risk Factors

Item 1A. Risk Factors 26

Unresolved Staff Comments

Item 1B. Unresolved Staff Comments 63

Cybersecurity

Item 1C. Cybersecurity 63

Properties

Item 2. Properties 65

Legal Proceedings

Item 3. Legal Proceedings 65

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 65 Part II

Market for Registrant ' s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Item 5. Market for Registrant ' s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 66

[Reserved]

Item 6. [Reserved] 67

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 67

Quantitative and Qualitative Disclosures About Market Risk

Item 7A. Quantitative and Qualitative Disclosures About Market Risk 88

Consolidated Financial Statements and Supplementary Data

Item 8. Consolidated Financial Statements and Supplementary Data F- 1

Changes in and Disagreements With Accountants on Accounting and Financial Disclosures

Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosures 99

Controls and Procedures

Item 9A. Controls and Procedures 99

Other Information

Item 9B. Other Information 100

Disclosure Regarding Foreign Jurisdictions that Prevent Inspection

Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspection 100 Part III

Directors, Executive Officers and Corporate Governance

Item 10. Directors, Executive Officers and Corporate Governance 101

Executive Compensation

Item 11. Executive Compensation 101

Security Ownership of Certain Beneficial Owner and Management and Related Stockholder Matters

Item 12. Security Ownership of Certain Beneficial Owner and Management and Related Stockholder Matters 101

Certain Relationships and Related Transactions, and Director Independence

Item 13. Certain Relationships and Related Transactions, and Director Independence 101

Principal Accounting Fees and Services

Item 14. Principal Accounting Fees and Services 101 Part IV

Exhibits, Financial Statement Schedules

Item 15. Exhibits, Financial Statement Schedules 102

Form 10-K Summary

Item 16. Form 10-K Summary 103

Signatures

Signatures 104 Table of Contents SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K contains forward-looking statements within the meaning of the federal securities laws, which statements involve substantial risks and uncertainties. Forward-looking statements generally relate to future events or our future financial or operating performance. In some cases, you can identify forward-looking statements because they contain words such as "expect," "anticipate," "should," "believe," "hope," "target," "project," "plan," "goals," "estimate," "potential," "predict," "may," "will," "might," "could," "would," "intend," "shall," "contemplate," "opportunity," or "continue" or the negative of these words or other similar terms or expressions that concern our expectations, strategy, plans, or intentions. Forward-looking statements contained in this Annual Report on Form 10-K include, but are not limited to, statements about: our expectations regarding future financial performance, including but not limited to our expectations regarding revenue, cost of revenue, changes in estimated paying user life, operating expenses, operating losses, operating leverage and our key metrics, and our ability to achieve and maintain future profitability; our ability to successfully execute our business and growth strategy, including our potential to scale and grow our advertising business, our international users, developers, and creators, and our ability to create new revenue opportunities; the sufficiency of our cash and cash equivalents to meet our liquidity needs; economic, seasonal, and industry trends; the functionality and economics of our platform on operating systems and through distribution channels and software application stores; the demand for our platform in general; our ability to retain and increase our number of users, developers, and creators; the impact of inflation and global economic conditions on our operations; challenges associa

BUSINESS

Item 1. BUSINESS Overview Roblox operates a free to use immersive platform for connection and communication (the "Roblox Platform" or "Platform"), where every day, millions of people come to create, play, work, learn, and connect with each other in experiences built by our global community of creators. Our vision is to reimagine the way people come together – in a world that is safe, civil, and optimistic. To achieve this vision, we are building an innovative company that, together with the Roblox community, has the ability to strengthen our social fabric and support economic growth for people around the world. Our Platform consists of the Roblox Client, the Roblox Studio, and the Roblox Cloud. Roblox Client is the application that allows users to seamlessly explore 3D immersive experiences. Roblox Studio is the free toolset that allows developers and creators to build, publish, and operate 3D immersive experiences and other content accessed with the Roblox Client. Roblox Cloud includes the services and infrastructure that power our Platform. Our mission is to connect a billion users with optimism and civility. We are constantly improving the ways in which our Platform supports shared experiences, ranging from how these experiences are built by an engaged community of developers and creators to how they are enjoyed and safely accessed by users across the globe. Growth at Roblox has been driven primarily by a significant investment in technology and two mutually reinforcing network effects: content and social. First, user-generated content, built by our community of developers and creators, powers our Platform. As developers and creators build increasingly high-quality content, more users are attracted to our Platform. With more users on our Platform, greater engagement and monetization opportunities exist, which in turn, makes Roblox more attractive to developers and creators, incentivizing them to design increasingly engaging content and encouraging new dev

View Full Filing

View this 10-K filing on SEC EDGAR