Roblox Event Calendar 2023
Roblox Event Calendar 2023 – Roblox (NYSE: RBLX ) has good growth prospects in the gaming sector, while Metaverse could become a much bigger company in the future.
Roblox is a technology company in the gaming industry. It operates a platform where users interact with each other to play games and 3D experiences created primarily by users for free. Roblox was founded in 2004 but won't go public on the New York Stock Exchange until 2021 and currently has a market capitalization of around $58 billion.
Roblox Event Calendar 2023
Roblox can be accessed and played on the platform's website, mobile devices and tablets (available on Android and iOS), Oculus Rift and Xbox. Roblox's monetization strategy is to earn revenue from transactions on its platform using its virtual currency called Robux.
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In terms of geographic diversification, most of the company's business is in North America. Roblox uses geographic interaction data collected based on IP addresses, but please note that Xbox users are considered the "rest of the world" because Roblox does not collect the geographic location of Xbox users.
During the first nine months of 2021, approximately 68% of the company's revenue was generated in the US. that. and Canada, 19% in Europe, 7% in Asia Pacific and 6% in the rest of the world. By age group, the majority of active users belong to 9-12 year olds.
The defining factor of Roblox's business model is that any user can be a developer or creator on its platform by learning the free Roblox software tools. Developers can earn money on the platform through transactions for their experiences or games, selling virtual items in Roblox's virtual economy, or engagement-based payouts. About 25% of the revenue generated in the game is shared with the developer and the rest goes to Roblox.
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The business model means that Roblox is "only" responsible for the infrastructure, while the content is created by developers who have developed millions of games. Roblox then makes money through in-game purchases and also through avatars.
When a user registers on the Roblox platform, a unique personalized avatar is created. They can then use Robux to get experience upgrades or an avatar in the Roblox Avatar Market.
Users can customize the body size and shape of their avatars and equip their avatars with items obtained from the Avatar Marketplace, allowing users to acquire items such as clothing, equipment, simulated gestures, and other accessories.
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Roblox's core business is to enable people around the world to interact with friends on the same platform in 3D digital worlds that are completely user-created. The company has seen good growth, especially in recent quarters, at least in part due to the stay-at-home situation caused by the pandemic.
In fact, as seen in the previous graph, the number of daily active users of Roblox increased significantly in the second quarter of 2020, which can largely be explained by the pandemic. However, its growth is not temporary, and the number of daily active users will continue to increase gradually in the coming quarters, which is a good sign that users like the Roblox platform and that the strong growth of users is not a temporary phenomenon.
This means that the growth prospects are good, as Roblox has several growth opportunities in the coming years. In fact, international growth, expansion in adjacent verticals and the growth of older age groups are three strong sources of growth in the medium term. Additionally, it is possible that Roblox will be offered on the PlayStation 5 in the future, which would surely be another strong source of growth for the company.
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While its growth prospects in its existing business are good, I see Roblox as a great meta-version game that could be an even bigger boost to its growth in the long run.
Its platform is perfect for the metaverse, enabling a shared and immersive experience across billions of users. This is exactly what Metaverse is all about, so Roblox has a great opportunity to be one of the main beneficiaries of this new "technology" in the future. Additionally, its platform is capable of running on AR/VR devices, so Roblox will benefit immensely from Metaverse's development.
A good example of how Roblox can play a role in the Metaverse was Paris Hilton's New Year's Eve party held on her virtual island, Paris World on Roblox. The event was for people who wanted to spend their evening with Paris Hilton at a virtual party, which they probably couldn't do in real life.
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This shows that the Roblox platform is already being used for more than just playing games, which could be an important source of revenue in the future as more events take place on virtual platforms and more users join and purchase goods at these types of events.
In terms of financial performance, Roblox has a good track record of revenue growth and cash flow generation, although based on GAAP numbers, its business is not yet profitable and is not expected to be profitable in the coming years.
Roblox generates almost all of its revenue from the sale of virtual items on the Roblox platform that users can purchase through Robux. User payments are non-refundable and Roblox initially recognizes these payments as deferred revenue.
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Roblox earns revenue when users purchase items classified as consumables or durables. In the first nine months of 2021, roughly 88% of Roblox's revenue came from the sale of durable virtual items, while 12% came from virtual consumables.
Another important indicator is bookings, which reflect sales activity during a certain period. The following chart shows the difference between bookings and revenue over time, with revenue being much smoother as the company considers the life expectancy of its average user. This means that bookings are a "leading indicator" of future revenue growth, as the factors that affect Roblox's bookings and revenue are essentially the same in the long run.
In the first nine months of 2021, Roblox's revenue reached more than $1.3 billion and $500 million in the third quarter. As a result, annual revenue in 2021 is expected to be close to $2 billion, more than double last year's revenue. In terms of profitability, the company reported a loss of $355 million for the 9 months of 2021, but as you can see in the following chart, adjusted EBITDA and free cash flow have been consistently positive in recent quarters.
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This happens because of the difference between sales activity and revenue recognition, so non-GAAP measures give a better idea of Roblox's "underlying" profitability.
The difference between operating loss and adjusted EBITDA consists primarily of inventory-based compensation, depreciation and amortization, and changes in deferred revenue. Adjusted EBITDA for the 9 months of 2021 was around $500 million (or 39% of sales), which is a good level of profitability.
In addition, Roblox is also very cash-rich, with free cash flow of $480 million, or 96% of adjusted EBITDA, during the same period. This is a very good cash flow conversion that allows Roblox to continue to invest in growth and strengthen its financial profile.
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In terms of balance sheet, Roblox is in a solid position considering that its net cash position at the end of September 2021 was approximately $1.9 billion. This is a strong position and allows Roblox to invest in its growth without the need to raise capital in the medium term, which is positive for current shareholders as downside risk is low in the medium term.
Recently, Roblox's user and booking growth was a bit weak in November, likely due to the platform outage at the end of October, when its platform was down for nearly 73 hours, making it the longest outage in Roblox history. The company estimates a loss of approximately $31 million on bookings during this period, of which 25% will be paid to developers ($6.8 million).
Roblox says the issue didn't cause a drop in users later, but last month Roblox posted 49.5 million active users in November, down from 50.5 million. Bookings for the month were around $210 million, also below expectations of $215 million, which led to a significant correction in Roblox's stock price.
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This means that Roblox's growth should slow in the coming quarters, as bookings for the next two quarters have stagnated at around $600 million, resulting in much lower revenue growth compared to previous quarters due to reporting policies.
That said, I expect Roblox to hit over $2 billion in annual revenue in 2021, more than double the 2020 revenue. Going forward, revenue growth is likely to slow down for the reasons already discussed, and with the impact of the pandemic in 2022, gaming is expected to slow down, so revenue growth will definitely be lower compared to recent history.
In the medium term, revenues are expected to grow by more than 20% annually from 2023 to 2025 to approximately $5.7 billion in 2025. This shows that Roblox is a fast growing company and profitability is likely to be achieved as the company grows. And your business will mature over time. Indeed, in terms of its bottom line, Roblox
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