Roblox Corporation


SKU: RBLX Category:


This is our first report on Roblox, one of the most popular online entertainment and gaming platforms in the U.S. that is gradually spreading its wings across the world. The company had a disappointing last quarter and failed to meet Wall Street expectations in terms of revenues as well as earnings. It reported $701 million in bookings in Q3. Developers are responding by creating an increasing amount of content that is relevant to and engaging for older gamers. Their DAUs were 58.8 million in Q3 on a DAU basis, a 24% growth from the same quarter last year. It is a fact that Roblox continues to face challenging comparisons especially with the last year and the pandemic times. However, their strategic and core users are beginning to outpace pandemic numbers as the bookings increase. Furthermore, the company keeps enhancing its on-premises and cloud game engine. They have also made advancements in their avatar stack, allowing older users to have increasingly recognizable avatars thanks to layered clothes. We initiate coverage on the stock of Roblox Corporation with a ‘Hold’ rating.

Our Report Structure:

⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures

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