Q4 2022:

• EPS beat by +10.67% from consensus, revenue beat by +1.66%

• Roblox reaches 58.8mil DAU, a record for Roblox, up 19% YoY

• 13+ DAU up 26% YoY, U13 DAU up 11% YoY, continued strong growth in APAC and Europe compared to US/CA

• 13+ hours on platform up 28% YoY compared to U13 up 7%, with trends flipped with more hours spent in US/CA and Europe than APAC

• $291.5mil net loss in Q4 2022 compared to $147.3mil net loss in Q4 2021

Full Year 2022 (so far):

• Average DAU 56.0mil, up 23% YoY

• 49.3bil hours spent on the Roblox platform

• ABPDAU down 14% (11% based on fixed currency conversions) YoY. However, this is up in January 2023 0%-2% (3%-4% based on fixed currency conversions)

Earnings call

• David Baszucki heavily emphasises voice and facial animation rollouts, despite being delayed from original release targets.

• Investors would like to see ChatGPT in Roblox, despite not needing text-to-text chatbots on a platform designed for social connections between humans

• Expect a blog post from Roblox CTO Dan Sturman tomorrow about AI efforts (post has now released)

• 3D material generation from AI is being investigated

• Continued decrease in payment processing costs

• Scandanavia is a core market to Roblox, in addition to US/CA, UK, NZ

• Mike Guthrie, CFO of Roblox comments on DevEx being low percentage-wise in Q4 2022

  Yeah, Brandon [investor], so it's not intended to go down as a percentage of bookings. Bookings grew very quickly in the fourth quarter. So we had a little bit of, again, absorption, if you will, of the cost. And so -- but generally, if you look at that number over the last three or four years, you're going to see a shift of a few hundred basis points.

  So December was - Q4 in general was a little bit unusual because of the spike in the growth rate of bookings. Our intention is to continue to move more of the economics toward the dev community. Our intention is to continue to find innovative and cool ways of [sic] the devs to monetize on the platform through various sources of bookings and monetization. And yeah, normally, I would expect that that's one number that I can tell you will go up as a percentage of bookings this quarter and throughout the course of the year.

  So I'll go back up to where we have been, which is like that 22%, 23% range, and we'll still try to push through to higher numbers. So what you're seeing in Q4 was unintended leverage because of the top line. Does that make sense? 

  (In general, there should be a higher DevEx percentage in Q1 2023 as there are lower bookings in this quarter, with more of a window for DevEx cashout than in Q4 with the holiday period)

• Immersive Ads to launch self-serve this year, delayed from previous estimate