Roblox (RBLX Quick QuoteRBLX - Free Report) is a gaming company that’s known for developing open platforms where players can create their own worlds & interact with others. RBLX was the first major company working on the metaverse to go public, and the stock began trading on the public markets last March.

But today, shares plummeted well below its $64.50 direct listing price, closing down 26.5% following disappointing fourth quarter earnings. Revenue came in at $568 million and loss per share was $0.25 compared to estimates of $604 million and a loss of $0.13. Roblox also reported bookings of $770 million, which missed expectations of $786 million. Management did not that growth rates declined due to tough year-over-year comps.

Jeffries analyst Andrew Uerkwitz wrote in a note to clients that “Once stuck-inside kids and teens are now spending weekdays off their devices and out in the real world. The big picture monetization metrics were disappointing,” and questioned if declining growth and engagement trends are transitory or a sign of larger issues for the tech stock.

However, user growth was a bright spot in Roblox’s report, with daily active users growing 33% to 49.5 million

RBLX is currently a Zacks Rank #3 (Hold), with a market cap of about $31 billion.