Roblox (RBLX) 9 Nov 212021 Q3 Earnings call transcript

Company Profile

Participants

Anna Yen	Head of Investor Relations
David Baszucki	CEO
Mike Guthrie	CFO
David Karnovsky	JPMorgan
Mike Ng	Goldman Sachs
Brandon Ross	LightShed Partners
Matthew Cost	Morgan Stanley
Drew Crum	Stifel
Matthew Thornton	Truist Securities
Clark Lampkin	Piecyk BTIG
Thomas Sawyer	Virtual Listener
Francisco Olivera	Arevilo Capital

Call transcript

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Operator

Ladies and gentlemen, thank you for standing by and welcome to the Roblox Q3 2021 Earnings Q&A. At this time, all participants are in a listen-only mode. Please be advised that today's conference is being recorded. After the speaker’s presentation, there will be a Q&A session.

If you require any further assistance, [Operator Instructions]. the to hand speaker now will conference your over today. I Head of again, Investor And Relations. you. Thank now. ahead go Please

Anna Yen

Good morning, results. thank CFO that discuss is everyone. yesterday And CEO, Mike Roblox session our Roblox opening we to Third to Guthrie, a published Q&A aftermarket I remarks Quarter remind your Suzuki, closed, XXXX make roblox.com. David Since ir. With Relations want today you me website and for everyone a shareholder at rest will the letter reserve questions. we and letter and earnings lot provides of results some for details, brief on our Investor time of joining the the

make our the on-platform, the tools, technologies metaverse, financial to your as to expectations, new and questions Day, the payments and to take On our statements talent, release as participants, based assumptions or can expressed actual but obligation as more today's to may our materially your results you to factors our our possible. For ability COVID-XX for future information where conditions, a today. and Actual we be on new may may to about the quarterly looking filed fiscal forward-looking forward-looking in plans, successive our performance growth, business update may no call, and the those statement limited metrics. and we we developers, future including from of the of the at forward recording regarding features do projections, and and on in by events, the and with our performance, The events as -- platform. that operating in characterizations artists including statements, filed to international Please refer quarter issued yesterday, and market that is XX-Q, refer filings question music, our future from statements. investment the well development with press screen please making financial June report developer these time-to-time. brands development statements of and risks community developer October described Form best and investments economy to cause filings reports where the of new Investor bring Any whole not strategy, the the as other ended platform financial statements including bottom disclosures. SEC make on Forward-looking results of XXth, in XXXX, note our many type materially differ a projections, webcast we differ for the from We'll SEC, icon business impact question. other the

results our Relations GAAP. certain well should in for found or discuss from financial which between be supplemental with not materials, Investor our information, as measures. considered our prepared issued in Reconciliations financial in our also can can metrics press non-GAAP will as of found accordance a and be GAAP non-GAAP on isolation in These for release be substitute We reported yesterday, website. measures as copies

archived be and afterwards. our is David. on that, call Finally, this will the shortly to will I call being webcast With turn website over

David Baszucki

results, well we normal stack believe, well. Pacific Investor COVID spending Thank across we today. and at, we'll into have as all to our hours that, a we've we possible. Day will low community several questions We from you with back And of to as as answering welcome shared. Roblox talk look QX Roblox around you, And are as November and whole today Time, you the we wish I speaking as our October, AM X out of our diving Anna. forward coming month Thank be look as much With forward you. the in morning which your to both I about do questions now on the highlight shareholders, product are world. week also hope your that a good live-streaming the XXth, getting Company. where where We to you

Anna Yen

take ready Operator, questions. to

Operator

[Operator like this would time, to At ask you an if audio Instructions]. question,

Your will Quadrani ahead question. of come go with with JPMorgan, first please question line your from the Alexia

David Karnovsky

Thank you. David Lexia. for This Karnovsky is on

analysis when what as as to of a well just quite Following then, again. the it. on pleased recovery of typical spending? a user remind our Did what pass monthly cadence maybe to the community came could an back essentially we're see outage, through compare lead to like the an related period? and platform? event of all see comments. that taking October, for immediate share kind holiday of We can historically and outage, then steps going to you that I'll make worked a an look And see engagement happened, Dave. you loss publish to thing continuation trends say happen of how in the Mike do we're future this, QX? you in with you November were see we the any the How publicly a as I'll to support Roblox such we're and also with does quite trends. [Indiscernible] ramp users And to the to of we in much doesn't sure over was of user us gratified which live,

Mike Guthrie

Hey, David.

November recovery First really week to Basically, back where we had good. looks of been.

didn't lasting we're users. see see any fortunate that impact didn't So in we on -- we

to see that. So obviously we're happy

our relates back-end generally it biggest seasonality, the it's is because As quarter, and loaded of QX holidays. to

So no similar. and surprise. October great pretty November, generally

little solid days Thanksgiving, next good looking we back months, are you when many, up, back a home more. Generally, with -- And So us of would we October would a around as pickup users two bit and when I that's came like the in expect at just people and had XX say trends. looked see it a good of step. we back we came bunch going years many

David Karnovsky

And of build aged think up that now react XX developers majority to you expect how move platform seeing [Indiscernible] prosper or the experiences this rating at DAUs, the do if say? that chat qualifies you with like then, much wondering content? level a over previewed tools can to then mix And are meeting, you that with I'm mature to time? you In voice Okay. percentage the system accelerate more and would

David Baszucki

Hey, this is Dave.

We who XX have creators -- been of we've building platform everything years it's keys one for millions on created that and content, by this is over user of the Roblox. make powered

finding to we've looking very quality as too, aligned up with more, creator content that under. search very of discovery, grown and personalized people are And ago, to we've over of more our wants the gone the of our platform our and improved recently needs on amazing is number our has player the they're experiences Interesting for. players than a is the thousand what responsive year XX%. XX that and But As more community top have community. approximately XX%

thousand of percent are XX-plus. XX% top the So experiences more now

the pieces is content broad-spectrum world, content. of So the for of are There for people There amazing are community responding, developer very for niche creating interest. all ages, around pieces content.

wanted we to happening what So is happening. see

David Karnovsky

you. Thank

Operator

Goldman question question. will Mike ahead Ng with with Sachs. next go line Please the of your come Our from

Mike Ng

just good Hey, I X. Thanks question. have for morning. the

from little are an any with international strong against whether users. resonated wondering a have could APAC world Roblox if with about that there perspective. particularly a I the is then any quick First expansion And you bit Rest from follow-up engagement experiences that was an talk of and I particularly perspective, international initiatives just executing Thanks. And

David Baszucki

to QX highlighted and going by to I'm we APAC Yes, had kick that Japan. first Mike because over a great

growth to to and want So that, we maybe acceleration. and what with up speak support if international you to Mike, I'll follow then do

Mike Guthrie

I decent around don't could point world. amount to different of overlap you think dramatically the pieces content just that a any specific or content piece we're Generally, have of Asia-Pacific. in we of

amount are for certain We increasing content markets. local of seeing in -- increasingly affinity

they are As developers and that relevant started rest will content in the of in Asia-Pacific, start relevant or building markets. as is and around have in those world, building, growing local globally the

so quarter. spike And no there's specific this

seen longer-term content Day the a just has more some affinity the it's developed just the compounding good Investor of we've the trends this increasing. Investor it's content week. solid think for as bit of local the talk about at content trend and a more around that been database local next becoming seeing you've become a -- little world global, developing of But we'll of I much that a

David Baszucki

international the that is the they technology with And need -- both our that then well can growth extent improving one extent the of to as by supplement continuously created. on. developers, percentage of which are dynamically drives be, as which as, translation, the this the have default experiences we is translation, the experiences to quality that if thing that hand and that is automatically translate And and

growth. in So a contributing more that factor strategic international is

Mike Ng

with I a and thoughts bit could the experiences. brand little if the for about just you Thank you Great. traction was talk wondering

the mentioned others you You the in very are these letter, are a world same time? Thank touch platform or in that over vans higher right way self-serve brand the much. participating now capacity or that do UTC does and experiences change brands in on

David Baszucki

some are new experiences. the Dave. and new is ago, is But created as communities. in of on in an vision in were just This are developer between same play This and for ecosystem Roblox. Yes. as play thousands Long-term for years creators brands experiences concert possibly them. XX there gains these and relatively the of exact They or experiences, is that thousands where brands imagine games we

items brands audience. how So that the visited of vision and over The as World the been and on interact some road-map This audience. now Vans working to we're is that next as touch week, immersive a the brands be for with to is really to with includes what go we're skate they assets, to boarding, World, had way we'll year had is with choose their brands which parts to there their we interesting this connect continue have is as with self-service million able deal Day as fans. if interact visits, print see Investor ways monetize. as of our just Vans And noted who video wear possible. and shop, have in be their new Vans people the creation way to for way out you Immersive sharing they may check the just for XX immersive sale. really for they with IP to high-level And make Vans,

Mike Ng

Mike. Thanks, Dave. you, Thank Great.

Anna Yen

you And from Can webcast one [Indiscernible]. trends U.S. and the versus Thomas internationally the monetization Canada from year-to-date. discuss Reiner

monetization growing faster a U.S. Canada. lot back-end localization in in invested internationally You've and and is than

Mike Guthrie

of growth back time. at markets, time, many we've I'd amount Thanks growth where years the seen over what's and of at driven spend change back-end, Thomas. monetization? the of Off They now part platform. we're user internationally users. it's rate core on the going They by our right the the in of much in very say retain cumulative

them of and percentage they spending are they tend as retained payers, payers. Once increase Some and payers, convert to become their become levels.

content. I got think because markets happening primarily just of basis international better whole faster smarter creator in for with now that's variety reasons, you've

of And growth. when by user question a now, Generally you are get and over the cohorts user becoming to of or very denominator their of looking faster increase bookings starting that so again, going over a the user of payer driven time are at monetization period have people as monetization change and bookings on primarily lot monetization ratios to just Right and and growth period growth are numbers we long generally faster. very the payers high look I'll per our about just make long monetization tend like down. that increase the can between growth, high rate they're numerator engagement We those time. in up caution trends

Latin in I about and So Europe, Asia, payer going at U.S. like cohort. high The we've that and the Germany, the growth same talking we going France markets just see to is international markets America. Korea. the of quarter We to go really all back we Southeast our Canada. have Spain, we lot, When behavior in and a XXXX, and that markets been then particularly we're in as Asia, still and and high-growth Western markets the completed, others, in growth and way It's expect back to which look East core Japan, Asia-Pacific. mostly

And base and And those user will Capita be real so result all that you mix. for some slightly I I lower we're that so but a guess markets got be really wealthy in markets don't lot we'll exactly of you there and GDP other have very going ratio be be a the we'll user’s forecasting a And a to know that's looking of bookings. while, focused. engagement per in where

Operator

ahead of Partners, your from with please Brandon Your next audio go line Ross the with comes LightShed question. question

Brandon Ross

Hi. bringing that around? stick Thanks I was it's you core for been is Squid your do far like so have squid XX+. going demo? And you And up taking thought be events experiences curious if adjacent Pilots, or or those aging XX whether are users, Games the -- to older and questions. number users? are about even up, My the highlighted cultural a I just aging the in that Or first one, how for you game then and you generally bringing your And to it has follow-up. older think of

David Baszucki

So, great question.

First, highlight, any have I don't and right experiences. want to now we up only-XX

on we're aging platform, base areas. there's players. two of We're the XX% open of majority solid XX-year-old up. been is are us through ages. in place. with of about younger advantage these to about all experiences there. and that is a is a see cohort. we've civil now XX on But talked of Roblox exciting And in right One a very existing growth historically having in thing top lot the We've because growing growth to started experiences, those have the player our in it, safe The our middle cohorts focus are being an we lot of and up older the thousand We middle to with right a amazing We XX+. It's whitespace had us. still

that singular place is some new reached a the looking people examples audience. Game, and likely with we as looking bring case Squid for show. games, side-by-side the that correctly retention But that's Games events for of a In concerts, note, us. So Squid believe Squid experience -- to that opportunity people both also them bring of the most to we brands other in. you awesome

where see to so And that. could came they they Roblox

to with older come believe So, I stick our the platform to us that into bringing things and add those a people retained and new players do platform.

Mike Guthrie

quick we quite Gucci for a was around had an a of pieces demo Yes. demo. that of -- to an -- contributes I the Garden And we of of month knew of individual older broadening overall Company. demographic the It in we just had content, know bit Each that the sure trend think older an these September. aged

an is that So it's or users. you to a going quite older their following do something have example, good inside Roblox it's Garden. going some like they're an that market Pilots has clearly a receptive it's Twenty-One music following, and Gucci where an to when But artist attract older those likely of

fastest-growing. right adjacency market, to to a age tracking have for in XX been aged to long I X XX fastest-growing was quite our cohort that's it We age for years up is has was. continued and fastest-growing core, was our usually while. XX to what it Roblox. and adjacent time, Today, the exactly a demographic now, on for was XX the our It adjacent think and demos and XX demographic, It's

or event individual any not piece it's think of I So content.

combination are that's and big then to, things again, in finding going on I demos. think age everything this audiences certain of of and these broadening it's contributing a

David Baszucki

the are platform and weren't able days we interesting with talking I what one world development We which platform that tools, rip the in this, on on the Squid where go on just immersive to countries there's Game months. combination experiences create series. and happened content. around and a And for in lot attraction other the hand our at cloud to our and creators highlights thing TV of functioning velocity could of the in both and various environment, attention it were the our about respond want hand talking implicit

Brandon Ross

business I around to Analyst I on in their high know UGC link you directly on -- touch Dave Yeah, with companies going on I this is earlier the them there that's for to creation you way maximize But and the said from brands this might the a platform? Day. second want think velocity and impact the stick a help to [indiscernible] of

David Baszucki

ago, I will A one of example, an top of for more, more of situation. was on is I more This see we think experiences organic more and situation, right. intentional more awesome couple days people the on and Jailbreak believe Roblox Roblox, of an we a intentional already a which an around, NASCAR There experience. are all where is brand place partnership driving NASCAR have cool sudden with is vehicles. announced vehicles great this

their over on way, has will but think manifested about well seen quotes do we Roblox. a sensation, I for time, in don't though is itself in way appreciation I So this to organic, experiences almost both media see speak Even as organic intentional in Netflix, a experiences. have an other way that this as one I want

Mike Guthrie

letter, category with intention Bakugan. the another that was Another in Netflix with you mentioned again

example to So the quite up stream another that on intentional of a something that that's seller went was [Indiscernible] platform.

Operator

question Brian next ahead Morgan Stanley, Your Nowak with your go please with question. of line from comes the

Matthew Cost

and maybe into with closing then see loop a the secondly, platform brands Hi, helped of Roblox broader guys. -- guess some that to your for there philosophical brands It's inside opportunity wondering for then taking experiences. in recent advertising the is on place on and big branding building ads smaller those opportunity that like businesses goods. there's make come you offline to companies Roblox. for (ph) basically are I to to ad in about It on was them Matt have Thanks transactions. Roblox then of some headlines view weeks for on and what I fitting Brian. purchases people And just sort physical been avenues the how the of interact And questions. seems

your Wheels Hot that cars. offline So Thanks. to if buy Roblox your maybe start dollars? Can efforts real Hot they in you game, playing process and kid with a Wheels link life about experience to talk is thought brand to actual go a then

David Baszucki

the focused the go rich the first satisfaction payout I'm Dave, and vibrant our on date advertising platform on view The engagement-based and on have we've specific. our is this very economy developer to on view of a I'll already this the that large engagement speak and users going systems, built than and virtual more community Matt, have more and including monetization with is long than long rather businesses. created primarily to we the

it's on and is developers is of the and around year. dollars Some vision at Advertising high-quality enormous for our and this it's experiences same opportunity, we our a advertising this, making the future of there's But very big we'll think millions type globally of do native, working tens an interesting time over the how is high-quality rolling time, immersive, at standards be advertising time, branded supported and around out. a an and same future.

super On take question, brands, that you about super, your to want [Indiscernible] So believe second Mike about optimistic that. I maybe one?

Mike Guthrie

see the are very the you're opportunity not to and of that early same We that. stages exact about describing in talking brands Yeah.

base. user For they're brands now, the directly their promoting with

big opportunity. different of I in to in level. all being buying Vans logical only own their obviously eventually T-shirts to not user and those of Roblox using take think you big with has up their And those avatars for It and do ultimately clothing a the would like a is a experience, think would of of on on all example. returns it's maybe a as that see well. virtual goods Vans who we world would virtual an or Maybe even interacting it it or again, fact saying as us the they we have brand brand, -- shorts the a to it's ultimately shoes so

long where so, think doubt there's it's don't any that's we'll I up. -- in end And the run yes,

David Baszucki

with buying in our full-on our there sign where was want just physical a with on way And was the shoes digital of reiterate outage event. this this there. but of your Maybe connection was affiliated Vans no to a popularity a first that partnership wasn't Roblox, Chipotle

Matthew Cost

Thank Great. you.

Operator

go Your comes question. with the Please from Drew next of line with question Crum Stifel. your

Drew Crum

morning, Thanks. everyone. Good Okay.

recent updated more explanation for market? this date. China, strategy you saving cost thoughts of the around So understanding Company's given you're later in the in around any the can And share separately, then the developments outage

these investment discuss you spending where you're going how changes resources and willing, can forward? you or influences If direct

David Baszucki

China. there. and be the content world first, vision a to Yeah, We where created go long in and keep is that continuing build our a all to anywhere anywhere view wonderful there. take have able connects And in a that that I'll and out experienced China the partnership around to super we including head the we by once make this we're have platform in of people with Company a again, diligent world down countries around system possible. Tencent China we And remain

we Roblox of And I in the -- it value respecting the use the to people's outage that they big together. is highlighting a on what it will and On how community. a that share I have part how saw is at what around lot really and outage depend our we be of lives, is

share think be as be our fair happens never of to doing we'll to what think it's say There some and adjustments, then analysis I again. I part this we sure as may make minor.

have an that an just have and the I take on adjustments analysis. we follow We and team confidence have may be There some up complete infrastructure. team. we awesome that in to awesome

Operator

Please next question Matthew the come Thornton ahead question. Your with Securities. line go Truist from your with of will

Matthew Thornton

is given and mix economics they've subscription better Stores, creative to little rate able the unit just being a retention. And Hey, David, win-win you So to does fact guess return the on accelerate guys? one engagement subscription Mike or of there. the take the subscription, good dollars a -- some the first in bit follow-up. I've maybe Is I'll get there then thus got there subscription more for subscription opportunity morning, to the lowered around start to and App drive-up and developers? I of Anna. that of

Mike Guthrie

answer. and that. to retention There's about creative doubt Subscription for it no monetization? quickly is Just

David Baszucki

much our I to would with and monetization. like Company move Apple of would occur provide platforms these We Then as Microsoft, our that is creator economy we our rates great all any Google part. change, other any if both possible, and our made be partners, and to -- on I'll to platform to And the available that of think to as those riff on of routes through We, for more and community. take opportunity as us, the move partners as support on second communities. people to money changes that virtual creator

to majority it So creator won't the to of community long-term, move happen economic it's rates our and them yes, change, those out even provide greater store benefit.

Matthew Thornton

And of your I start. And a maybe I can a normal have you you those talked Can quick us, kind us what housekeeping Mike, post small then recovering remind you X and guys. being seasonality, about the follow-up. Great. and guess outage in November Thanks just to two-part maybe anything bookings. you question. did remind then off solid He to guys November December. acquisitions guess without been quarter. say, contribution a

Mike Guthrie

exciting people first. to on came We're in the the and question with have strategic Maybe second transactions. some Yes. team transactions. great that pleased Very those

capabilities, the $X them Some Roblox. and bookings was people, It They interesting we're contributed great with the to and IP, entrepreneurs have all and of who transactions. had the it's to businesses started at and Company. really really delighted

for terms big always I'd that's I weekends. We of the more November, trying then fewer pretty at in was number. in the to day holiday, a they as One November the October, November. in do us In month earlier, weekends the And of a on obviously bit bump up little forecast around the if Thanksgiving similar. said obviously. look to have November, But

was last pretty the October, like was and or close, but double data. quite October-November not something November look pretty at probably the similar numbers, that. can You XX% year's December higher

true a So with you'd QX forever. big just been that's in have great December, backend and

Operator

Piecyk Your next come go line question. of please your Lampkin with will question the from BTIG. with Clark

Clark Lampkin

question the morning. Hi, first. I related good tech

latency on elasticity portion talk their scale I five-year guess And could user you accelerate everything much off camera avatar you ITS about AI? reduce president help next sort at checked on how growing growth was whether and separately Dave, due like relationship gross guys between of or expansion second, add curious You toys nearly years keep standpoint. with or us to for I as reductions what infrastructure the and something of on item. of retention think a one, And I'm might the your the could if list about, exception sold mentioning and RDC. the to over think exists goals latency few

whether You those, in the but or with and the you might top item at curious items up whether I'm filled both the out time us version you on of are what next drawing share of list now. sitting started

David Baszucki

and underlying machine, really on we've player time avatar including in a seeing latency yes. have of what to XX Thank its can months avatar a not a than At that Hey, world outside interaction Getting physics ago amazingly some there. that architected we're I've have in hybrid a in. We've might And of through, you so where as every it's presenting Great Roblox we we couple cloud. reduce question. we'll the to the our predictions you. a set see that's things. core, more list system about we concurrency million a your years to along remote. creators do player distributed happening Germany And your of tech you're happening with and it Japan. ones, worked motion. hit, over that is president a still even reduce latency. place is in Roblox at Roblox including is And slicing then an year local And of with conference XX of that some know, infrastructure, X that player couple are There mentioning the Developer their a but in between what been avatar Roblox them live, started then come the that including a many

accelerated we've many way the world. Now around many, the data we centers that is have all

in We have building one India. have we're we in one Poland, --

we centers. in high-performance, a operate We Singapore. nearest And there's we support possible, And very, data are high-reliability at example, content build connect not that been These data to have of together of There that and correctly have we content. be that some distribute collection from future lot have where centers there this we we note, low of could centers. have CDN very we at one improve infrastructure, that data tapped straight whenever given out you vendors people a cost. their as our An yet reduction. opportunities latency that amazing comes

than who lot world connecting, that over in and around more reliable high it and so network our network have hop on need bandwidth on speed the them to do We Japan a to of perhaps a connections. to Ashburn, give IP rather people are the

We're how is is sign as bandwidth, cloud reduce at of question. we've close to things built. Roblox, the is. part that as well solid a cloud. But other to a have terabits external substantial this infrastructure looking technical appreciate fairly we're we latency our which influence And, there of So underneath infrastructure XX of

Operator

are questions at audio time. There this further no

Anna Yen

We're from right. our to take virtual All listener. going some

First would is, the how for younger question Roblox mainstream prevent as and older becomes you grows inappropriate players? from the audiences, content

David Baszucki

core of we're really really the We're already more and we're people this difficult and and place, every And carefully always priority as which better is create good feel of the bring a while from in I good of see They they doing adding ages. onto amounts more freedom really our already a week. we certain older civility. safety position in players are that civil metrics some top situations the respecting the society platform, all I starting better. and for then and foundation It's on getting platform. keep we're and

so doing over we We it. X/X this a Over are people XX top of on doing already and and have older the is something we're it's platform. continue We're priority. already our will of lot So people a to. plus

Clark Lampkin

play up Is offering gains, blockchain consider and infinity. to it which time? the adoption base play popping [indiscernible] of app You knew own, is would like something you or over earn in to

David Baszucki

doing to focused connection on on it's And or that and at social just to on learning Roblox. We're naturally entertainment. virally is if be together, playing and or come focused engagement supporting whether with want friend. platform We're to focus our people supporting people or things experiencing our working, their

now we not experiences the mechanics, to Robux to game payback any players. of Roblox Speaking on do ultimately right allow

do don't we plans So any have to that.

Anna Yen

your of the and of on share O developers and feedback the on they experience creators? and general vision David, creator make items? in state from how How next Hi, out developer is you at question you looking And [indiscernible] from future? developer Capital. compensation current how retaining Thomas The regarding things the the Sawyer (ph) and much could are creator

David Baszucki

the think of the individual dollars evolved we starting community Yes. XX+ larger of studios to a s a to grow Roblox and that the We year the is indication larger about growing living focus progression of engagement of of virtual the an When on studios making that quality To of fair to experience. the introduction funding of a last of so on health now and user VC in years to and accelerate platform make a to we've tens amount platform. over millions economy, of news, community, our from primarily creator this thriving community. to the hobby the grow

their grown increase we're participation constant developer that it's developer expect our number developer, is XXX we continue going hopeful the year-by-year, in or in number think and developer has XXXX. platform We X, to forward. and As whether economy XX and

a growing the developers our more retention economically and thriving is means for opportunities developers. more developers existing larger new more for ecosystem, platform developers, opportunities So for and of being on successful, primary

our toolset, plus new to than of audience. fair and platform to already of built retention into opportunity say long retention view the it's the built for and our is And is long people to debt, think gain discovery that search because view, I based size the also goes XXX the on quality, platform opportunity, specific the the on in million ability quality rather So mechanisms.

Mike Guthrie

I of The payout in year million. Few XXXX, was ago, quality million developer earned third has -- moving get the million. quarter developer and the efficiencies around entire what about cost. to XQ to platform around the years has the developer able area move We and vocal this without platform -- developer and such $XX we the we've economics, is to of and growth the more community of it out try been and 'XX, in the yielded developers, in $XX of synergy of Yes. any just XQ Company of in the produce more the In between to the as been so the great it's the we're that fantastic. economics. $XXX

down growth, followed make community we're the if time in ways that's continue of X listing more every and actually, to economics the factors -- we we work so you've kind pushing if our did progress when we're community talked from our that were heads a on the that to quarter. against And, continue just with just will more XX private So to of about that to you and of followed and number. we us the Company, thrilled years. going incessantly grow put And, and we've to us

Anna Yen

from Olivera targeting? is strategy asking Arevilo there acquisition is particular any Capital Francisco you're

David Baszucki

goes shared There available our people which interesting position, groups is with amazing and believe we I long entertainment. strategy to And is, consuming current basics is really an view our there's goes -- our people, We're vectors the our lot and enviable amazing can world, in the generally it's new Roblox that which interact and a finding that into everyone, that again all technologies Company ways of working, will through with where to growth we've vision, integrate ages. learning, of platform. on growth the Roblox a around

platform. So on where everything the position that puts in focuses do we us a core

the can of technology range for technologies you people areas the complement. looking Given amazing the great imagine on various we're and platform,

Anna Yen

is experiences. think more. for you How [Indiscernible] road have education [Indiscernible] map, time I from the comment we for two maybe is Can One on from [Indiscernible]

David Baszucki

helping with Day to join Roblox but see It's through fund, Bellis. educational find learn be science, type announcing production in amazing we're also our start especially community Roblox and as using We're map creative, a Company. learning, our bring be about share our going technology some Rebecca people not amazing is that. to an of will we Roblox. Bellus problem-solving institutes people just some And to won't that into partnerships in We're some and Yeah. we're group and people week guiding to talking live-in constructive be excited us partnerships where to to you'll ways to very was stem, notable educational Investor on creative around being to computer that of it right now learn at road going learn our in used and

Anna Yen

investors last any voice [Indiscernible] provide move Can tests. Dan from And Sang we (ph), you comes spacial question time. from should Capital. towards what the your the as our And for voice look learnings Angle from communication over

David Baszucki

and Investor allowing the carefully see guess a we impromptu experiences this that the on a it people midst up out learning talk and together. way, and a we Roblox's so Investor and a and especially the voice I -- as of would and started our holiday together part was year connection. in in to More hang great ago the in meeting, to a especially ago like this. groups, to We can our bunch availability a was party amongst a to learn over more is come world, much. I'm people at party able COVID the about when But future, and the is of I Roblox as when well now in this spacial the conversations, play we Roblox, roll the did year of adoption We'll in at of Day at huge in real with almost on out bar a work, they various it on customer on ultimately -- natural we missed Company Yes, holiday I it come the have had I -- Roblox which base. well open Day. think

Anna Yen

the time for That's we have all today.

David Baszucki

all, once just support our shareholders, you week for our we Roblox and to look again, our seeing a to Investor in your Thank Day. thank and to forward community. Yes, We you appreciate you.

Anna Yen

thanks. Operator,

Operator

participating. thank gentlemen, and Ladies you for

disconnect. You may Goodbye. now

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