Roblox Corporation (Exact Name of Registrant As Specified in Its Charter)
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): May 10, 2021 Roblox Corporation (Exact name of Registrant as Specified in Its Charter) Delaware 001-39763 20-0991664 (State or Other Jurisdiction (Commission (IRS Employer of Incorporation) File Number) Identification No.) 970 Park Place, San Mateo San Mateo, California 94403 (Address of Principal Executive Offices) (Zip Code) Registrant’s Telephone Number, Including Area Code: (888) 858-2569 Not Applicable (Former Name or Former Address, if Changed Since Last Report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Trading Name of each exchange Title of each class Symbol(s) on which registered Class A Common Stock, $0.0001 par value RBLX The New York Stock Exchange Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter). Emerging growth company ☒ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐ Item 2.02 Results of Operations and Financial Condition. On May 10, 2021, Roblox Corporation (the “Company”) issued a press release announcing financial results for its first quarter ended March 31, 2021. The Company also posted on its investor relations website (ir.roblox.com) a shareholder letter and supplemental materials for its quarter ended March 31, 2021. A copy of the press release and shareholder letter are furnished as Exhibit 99.1 and Exhibit 99.2, respectively, to this Current Report on Form 8-K and are incorporated by reference herein. Information on the Company’s website is not, and will not be deemed, a part of this report or incorporated into this or any other filings that the Company makes with the Securities and Exchange Commission. The information furnished under this Item 2.02 of this Current Report on Form 8-K, including Exhibit 99.1 and Exhibit 99.2, shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liability of that section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended (the “Securities Act”), or the Exchange Act, regardless of any general incorporation language in such filing, except as shall be expressly set forth by specific reference in such filing. The press release and shareholder letter furnished herewith as Exhibit 99.1 and Exhibit 99.2, respectively, refer to certain non-GAAP financial measures. A reconciliation of these non-GAAP financial measures to the most directly comparable GAAP financial measures is contained in a tabular form in Exhibit 99.1 and Exhibit 99.2. These non-GAAP financial measures are reported in addition to, and not as a substitute for, or superior to, financial measures calculated in accordance with GAAP. Item 7.01 Regulation FD Disclosure. The Company also reported estimates for certain key metrics for April 2021 in its press release and shareholder letter, which were both issued on May 10, 2021, copies of which are furnished as Exhibit 99.1 and Exhibit 99.2, respectively, and are incorporated by reference herein. Each month the Company intends to post on its investor relations website (ir.roblox.com) to report certain estimated key metrics for the prior month, with the results for the third month of each quarter included in the Company’s quarterly report. The information provided pursuant to Item 7.01 of this Current Report on Form 8-K is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Exchange Act, or otherwise be subject to the liabilities of that section, nor shall it be deemed to be incorporated by reference in any filing under the Securities Act, or the Exchange Act, regardless of any general incorporation language in such filing, except as shall be expressly set forth by specific reference in such filing. Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit Number Description 99.1 Press Release dated May 10, 2021 99.2 Shareholder Letter dated May 10, 2021 1 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. ROBLOX CORPORATION Date: May 10, 2021 By: /s/ Michael Guthrie Michael Guthrie Chief Financial Officer (Principal Financial Officer) 2 Exhibit 99.1 Roblox Reports First Quarter 2021 Financial Results Revenue Up 140% Over Prior Year to $387.0 Million Bookings Increase 161% Over Prior Year to $652.3 Million SAN MATEO, Calif., May 10, 2021 - Roblox Corporation (NYSE: RBLX), a global platform bringing millions of people together through shared experiences, released its first quarter 2021 financial results today and separately posted a letter to shareholders and supplemental materials on the Roblox investor relations website at ir.roblox.com. First Quarter 2021 Financial Highlights • Revenue increased 140% over Q1 2020 to $387.0 million • Net Loss for Q1 2020 was $134.2 million • Net cash provided by operating activities increased nearly 4x over Q1 2020 to $164.5 million (including one-time direct listing expenses of $51.9 million). Exclusive of one-time expenses related to our direct listing, net cash provided by operating activities would have been $216.4 million. • Bookings increased 161% over Q1 2020 to $652.3 million • Free Cash Flow increased 4.1x over Q1 2020 to $142.1 million • Average Daily Active Users (DAUs) were 42.1 million, an increase of 79% year over year driven by: • 87% growth in DAUs outside of the US/Canada • 111% growth in DAUs over the age of 13 • Hours Engaged were 9.7 billion, an increase of 98% year over year primarily driven by: • 104% growth in engagement in markets outside of the US/Canada • 128% growth from users over the age of 13 • Average Bookings per DAU (ABPDAU) was $15.48, an increase of 46% year over year April 2021 Key Metric Estimates • Daily active users were 43.3 million, up 37% from April of last year and up sequentially from 42.3 million in March 2021 • Hours engaged were 3.2 billion, up 18% year over year and flat sequentially from March 2021 • Bookings were between $242 million and $245 million, up 59% - 61% year over year and up sequentially 7% - 9% from March 2021 when bookings were $225.3 million • Average bookings per DAU were between $5.59 - $5.66, up 16% - 17% year over year and 5% - 6% sequentially from March 2021 • Revenue was $143 million - $145 million, up 136% - 140% year over year and 5% - 7% sequentially from March 2021 “A fundamental part of being human is connecting with others, and we’re inspired by the way in which the Roblox community creates and shares experiences to play, work and even learn together,” said David Baszucki, Roblox CEO. “The opportunity of what we’re building at Roblox is massive, and we will continue to make long-term investments as we build a human co-experience platform that enables shared experiences among billions of users.” “Our first quarter 2021 results enabled us to continue investing aggressively in the key areas that we believe will drive long term growth and value, specifically hiring talented engineering and product professionals and growing the earnings for our developer community,” said Michael Guthrie, Chief Financial Officer of Roblox. “We believe we must continue to innovate and so remain focused on building great technology to make progress on our key growth vectors, primarily international expansion and expanding the age demographic of our users.” Earnings Q&A Session Roblox will host a live Q&A session to answer questions regarding their first quarter 2021 results on Tuesday, May 11, 2021 at 5:30 a.m. Pacific Time. The webcast will be open to the public at ir.roblox.com. Forward-Looking Statements This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to, statements regarding our product development, investment strategy, business strategy and plans. These forward- looking statements are made as of the date they were first issued and were based on current expectations, estimates, forecasts, and projections as well as the beliefs and assumptions of management. Words such as “expect,” “anticipate,” “should,” “believe,” “hope,” “target,” “project,” “plan,” “goals,” “estimate,” “potential,” “predict,” “may,” “will,” “might,” “could,” “intend,” “shall,” and variations of these terms or the negative of these terms and similar expressions are intended to identify these forward-looking statements.