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Roblox stock (NYSE:RBLX) jumped nearly 6% after (as promised) it gave an inkling of financial guidance for the coming year, guiding to the high side for 2024 bookings.
Chief Financial Officer Michael Guthrie said Roblox is “comfortable” with FactSet’s mean consensus estimates for the fiscal fourth quarter, and that in February, the company will offer guidance for the first quarter and full year of fiscal 2024.
Based on this week’s numbers, Guthrie indicated that comfortable consensus for full 2024 was bookings of $4.03B (higher than analyst forecasts for $3.98B). He also pointed to adjusted earnings before interest, taxes, depreciation and amortization of $489.9M.
He added that infrastructure-related capital expenditures for 2024 won’t exceed $100M, and share dilution will be in “the range of 3-4%.”
Given that full details will come in February, he offered a high-level view of the future: Between 2025-2027, the company is targeting annual bookings growth of “20%-plus.” And the company’s goal is to drive margins up by 100-300 basis points per year over the next 3-5 years.
The stock had floated slightly higher during the two-hour course of Roblox’s presentations, during which executives laid out approaches to product, user growth and implementing artificial intelligence to improve technological development.