Roblox (RBLX - Free Report) reported a fourth-quarter 2022 loss of 48 cents per share, beating the Zacks Consensus Estimate by 12.73%. The company had reported a loss of 25 cents per share in the year-ago quarter.
Revenues beat the Zacks Consensus Estimate by 1.23% and increased 2% year over year to $579 million while being focused on innovation and burning almost no cash.
Net bookings jumped 17% year over year to $899.4 million from $770.1 million in the year-ago quarter.
User Base Details
Average Daily Active Users (DAUs) were 58.8 million, an increase of 19% year over year driven by more than 70 experiences having more than a billion visits in 2022.
The fourth quarter witnessed the highest number of returning players which contributed to an all-time high of 13.4 million players.
Hours Engaged were 12.8 billion, up 18% year over year. Average Bookings per DAU was $15.29, down 2% year over year.
Operating Details
Developer exchange fees in the fourth quarter rose 14% year over year, reaching $182.1 million. Infrastructure and trust & safety expenses shot up by 46% year over year to $198.5 million.
Research & development and sales & marketing expenses were up 43.1% and 7.1% year over year to $248.4 million and $29.7 million, respectively. General & administrative expenses increased 34.2% year over year to $79.7 million.
Adjusted EBITDA came in at $183 million, up 8.9% from the year-ago period.
Balance Sheet
As of Dec 31, 2022, Roblox had cash and cash equivalents of $2.97 billion compared with $3.02 billion as of Sep 30, 2022.
Cash flow from operating activities in fourth-quarter 2022 was $119.2 million compared with the year-ago quarter’s level of $122.2 million. The cash flow from operating activities in the previous quarter was $67.1 million.
Free cash flow was negative $37.9 million in the fourth quarter compared to the previous quarter’s free cash flow of negative $67.7 million and the year-ago quarter’s cash flow level of $77.3 million.
Zacks Rank and Stocks to Consider
Currently, Roblox carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the Zacks Consumer Discretionary sector are BJ’s Wholesale Club (BJ - Free Report) , Churchill Downs (CHDN - Free Report) and Cumulus Media (CMLS - Free Report) . While BJ Wholesale Club flaunts a Zacks Rank #1 (Strong Buy), Churchill Downs and Cumulus Media carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
BJ’s Wholesale Club, Churchill Downs and Cumulus Media. are scheduled to report their quarterly results on Mar 9, Feb 22 and Feb 23, respectively.
The Zacks Consensus Estimate for BJ’s fourth-quarter 2022 earnings is pegged at 88 cents per share, unchanged over the past 30 days.
The Zacks Consensus Estimate for CHDNs fourth-quarter 2022 earnings is pegged at $1.46 per share, down by 8 cents over the past 30 days.
The Zacks Consensus Estimate for CMLS’ fourth-quarter 2022 earnings is pegged at 31 cents per share, unchanged over the past 30 days.
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Roblox (RBLX - Free Report) reported a fourth-quarter 2022 loss of 48 cents per share, beating the Zacks Consensus Estimate by 12.73%. The company had reported a loss of 25 cents per share in the year-ago quarter.
Revenues beat the Zacks Consensus Estimate by 1.23% and increased 2% year over year to $579 million while being focused on innovation and burning almost no cash.
Net bookings jumped 17% year over year to $899.4 million from $770.1 million in the year-ago quarter.
User Base Details
Average Daily Active Users (DAUs) were 58.8 million, an increase of 19% year over year driven by more than 70 experiences having more than a billion visits in 2022.
The fourth quarter witnessed the highest number of returning players which contributed to an all-time high of 13.4 million players.
Hours Engaged were 12.8 billion, up 18% year over year. Average Bookings per DAU was $15.29, down 2% year over year.
Operating Details
Developer exchange fees in the fourth quarter rose 14% year over year, reaching $182.1 million. Infrastructure and trust & safety expenses shot up by 46% year over year to $198.5 million.
Research & development and sales & marketing expenses were up 43.1% and 7.1% year over year to $248.4 million and $29.7 million, respectively. General & administrative expenses increased 34.2% year over year to $79.7 million.
Adjusted EBITDA came in at $183 million, up 8.9% from the year-ago period.
Balance Sheet
As of Dec 31, 2022, Roblox had cash and cash equivalents of $2.97 billion compared with $3.02 billion as of Sep 30, 2022.
Cash flow from operating activities in fourth-quarter 2022 was $119.2 million compared with the year-ago quarter’s level of $122.2 million. The cash flow from operating activities in the previous quarter was $67.1 million.
Free cash flow was negative $37.9 million in the fourth quarter compared to the previous quarter’s free cash flow of negative $67.7 million and the year-ago quarter’s cash flow level of $77.3 million.
Zacks Rank and Stocks to Consider
Currently, Roblox carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the Zacks Consumer Discretionary sector are BJ’s Wholesale Club (BJ - Free Report) , Churchill Downs (CHDN - Free Report) and Cumulus Media (CMLS - Free Report) . While BJ Wholesale Club flaunts a Zacks Rank #1 (Strong Buy), Churchill Downs and Cumulus Media carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
BJ’s Wholesale Club, Churchill Downs and Cumulus Media. are scheduled to report their quarterly results on Mar 9, Feb 22 and Feb 23, respectively.
The Zacks Consensus Estimate for BJ’s fourth-quarter 2022 earnings is pegged at 88 cents per share, unchanged over the past 30 days.
The Zacks Consensus Estimate for CHDNs fourth-quarter 2022 earnings is pegged at $1.46 per share, down by 8 cents over the past 30 days.
The Zacks Consensus Estimate for CMLS’ fourth-quarter 2022 earnings is pegged at 31 cents per share, unchanged over the past 30 days.
Infrastructure Stock Boom to Sweep America
A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made.
The only question is “Will you get into the right stocks early when their growth potential is greatest?”
Zacks has released a Special Report to help you do just that, and today it’s free. Discover 5 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.
Download FREE: How To Profit From Trillions On Spending For Infrastructure >>
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