![]() ![]() Like most modern tech companies, Roblox uses a dual-class share structure to allow its CEO to maintain control. The net result is that free cash flow ballooned from just $14.5 million in 2019 to $292.6 million in the first three quarters of 2020. That helps the company save a bit on capital expenditures, although Roblox spends relatively more than other businesses that fully embrace a capital-light model. Deferred revenue was $1.3 billion at the end of the third quarter, more than doubling from $643.9 million at the end of 2019.Īdditionally, Roblox uses a combination of third-party cloud infrastructure services provided by Amazon Web Services to supplement its in-house data center operations. That cash is considered deferred revenue until it can be recognized once the player spends the currency or uses the subscription over time. Roblox has collected a lot of cash from selling its in-game virtual currency, Robux, as well as its Roblox Premium subscription. ![]() The bottom line doesn't paint the full picture, though, for a few reasons. The company has lost $205.9 million so far this year, compared to $46.3 million in red ink for the first three quarters of 2019. However, Roblox is investing heavily in its business, leading to higher costs and widening losses. Revenue in the first three quarters of this year was $588.7 million, up nearly 70% from the same period last year. Average bookings per daily active user (ABPDAU) has been climbing steadily higher. Bookings (revenue plus the change in deferred revenue) have increased to $1.2 billion for the first three quarters of 2020, compared to $458 million in the comparable period in 2019. In addition to increased engagement, Roblox's monetization of that usage is also further strengthening. Monetization is strong but losses are widening
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