ROBLOX CORP, 10-Q filed on 8/2/2024
Quarterly Report
v3.24.2.u1
Cover Page - shares
shares in Millions
 6 Months Ended
Jun. 30, 2024
Jul. 15, 2024
Document Information [Line Items]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Jun. 30, 2024  
Document Transition Report false  
Entity File Number 001-39763  
Entity Registrant Name Roblox Corporation  
Entity Incorporation, State or Country Code DE  
Entity Tax Identification Number 20-0991664  
Entity Address, Address Line One 970 Park Place  
Entity Address, City or Town San Mateo  
Entity Address, State or Province CA  
Entity Address, Postal Zip Code 94403  
City Area Code 888  
Local Phone Number 858-2569  
Title of 12(b) Security Class A Common Stock, $0.0001 par value  
Trading Symbol RBLX  
Security Exchange Name NYSE  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Amendment Flag false  
Document Fiscal Year Focus 2024  
Document Fiscal Period Focus Q2  
Current Fiscal Year End Date --12-31  
Entity Central Index Key 0001315098  
Common Class A    
Document Information [Line Items]    
Entity Common Stock, Shares Outstanding   598.5
Common Class B    
Document Information [Line Items]    
Entity Common Stock, Shares Outstanding   48.7
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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 966,406 $ 678,466
Short-term investments 1,445,689 1,514,808
Accounts receivable—net of allowances 345,809 505,769
Prepaid expenses and other current assets 87,100 74,549
Deferred cost of revenue, current portion 559,278 501,821
Total current assets 3,404,282 3,275,413
Long-term investments 1,189,135 1,043,399
Property and equipment—net 675,075 695,360
Operating lease right-of-use assets 722,493 665,107
Deferred cost of revenue, long-term 277,614 283,326
Intangible assets, net 43,113 53,060
Goodwill 141,900 142,129
Other assets 16,904 10,284
Total assets 6,470,516 6,168,078
Current liabilities:    
Accounts payable 38,877 60,087
Accrued expenses and other current liabilities 269,839 271,121
Developer exchange liability 330,289 314,866
Deferred revenue—current portion 2,662,087 2,406,292
Total current liabilities 3,301,092 3,052,366
Deferred revenue—net of current portion 1,311,787 1,373,250
Operating lease liabilities 706,018 646,506
Long-term debt, net 1,005,679 1,005,000
Other long-term liabilities 34,639 22,330
Total liabilities 6,359,215 6,099,452
Commitments and contingencies (Note 10)
Stockholders’ equity    
Common stock issued, value 61 61
Additional paid-in capital 3,664,414 3,134,946
Accumulated other comprehensive income/(loss) (6,229) 1,536
Accumulated deficit (3,536,740) (3,060,253)
Total Roblox Corporation Stockholders’ equity 121,506 76,290
Noncontrolling interests (10,205) (7,664)
Total Stockholders’ equity 111,301 68,626
Total Liabilities and Stockholders’ equity $ 6,470,516 $ 6,168,078
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Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares
shares in Thousands
Jun. 30, 2024
Dec. 31, 2023
Common stock, par value (in dollars per share) $ 0.0001 $ 0.0001
Common stock, shares authorized (in shares) 5,000,000 5,000,000
Common stock, shares issued (in shares) 646,611 631,221
Common stock, shares outstanding (in shares) 646,611 631,221
Common Class A    
Common stock, par value (in dollars per share) $ 0.0001  
Common stock, shares authorized (in shares) 4,935,000 4,935,000
Common stock, shares issued (in shares) 597,933 581,135
Common stock, shares outstanding (in shares) 597,933 581,135
Common Class B    
Common stock, par value (in dollars per share) $ 0.0001  
Common stock, shares authorized (in shares) 65,000 65,000
Common stock, shares issued (in shares) 48,678 50,086
Common stock, shares outstanding (in shares) 48,678 50,086
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Condensed Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Income Statement [Abstract]        
Revenue $ 893,543 $ 680,766 $ 1,694,843 $ 1,336,110
Cost and expenses:        
Cost of revenue [1] 198,557 162,029 377,423 313,870
Developer exchange fees 208,270 165,843 410,675 348,283
Infrastructure and trust & safety 221,064 225,039 447,998 436,083
Research and development 361,684 315,319 723,749 590,856
General and administrative 105,627 96,197 203,451 193,771
Sales and marketing 36,290 30,328 71,824 57,083
Total cost and expenses 1,131,492 994,755 2,235,120 1,939,946
Loss from operations (237,949) (313,989) (540,277) (603,836)
Interest income 44,383 34,764 86,553 65,846
Interest expense (10,204) (10,129) (20,567) (20,141)
Other income/(expense), net (3,315) 3,277 (3,661) 2,837
Loss before income taxes (207,085) (286,077) (477,952) (555,294)
Provision for/(benefit from) income taxes 110 (1,236) 1,163 (505)
Consolidated net loss (207,195) (284,841) (479,115) (554,789)
Net loss attributable to noncontrolling interests (1,312) (2,064) (2,628) (3,699)
Net loss attributable to common stockholders $ (205,883) $ (282,777) $ (476,487) $ (551,090)
Net loss per share attributable to common stockholders, basic (in dollars per share) $ (0.32) $ (0.46) $ (0.75) $ (0.90)
Net loss per share attributable to common stockholders, diluted (in dollars per share) $ (0.32) $ (0.46) $ (0.75) $ (0.90)
Weighted-average shares used in computing net loss per share attributable to common stockholders—basic (in shares) 642,814 612,689 638,917 609,680
Weighted-average shares used in computing net loss per share attributable to common stockholders—diluted (in shares) 642,814 612,689 638,917 609,680
[1] Depreciation of servers and infrastructure equipment included in infrastructure and trust & safety.
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Condensed Consolidated Statements of Comprehensive Loss - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Statement of Comprehensive Income [Abstract]        
Consolidated net loss $ (207,195) $ (284,841) $ (479,115) $ (554,789)
Other comprehensive loss, net of tax:        
Foreign currency translation adjustments 57 875 (621) 807
Net change in unrealized losses on available-for-sale marketable securities (676) (14,605) (7,057) (15,180)
Other comprehensive loss, net of tax (619) (13,730) (7,678) (14,373)
Total comprehensive loss, including noncontrolling interests (207,814) (298,571) (486,793) (569,162)
Less: net loss attributable to noncontrolling interests (1,312) (2,064) (2,628) (3,699)
Less: cumulative translation adjustments attributable to noncontrolling interests 21 427 87 393
Other comprehensive loss attributable to noncontrolling interests, net of tax (1,291) (1,637) (2,541) (3,306)
Total comprehensive loss attributable to common stockholders $ (206,523) $ (296,934) $ (484,252) $ (565,856)
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Condensed Consolidated Statements of Stockholders' Equity - USD ($)
shares in Thousands, $ in Thousands
Total
Class A and Class B Common Stock
Additional Paid-In Capital
Accumulated Other Comprehensive Income/(Loss)
Accumulated Deficit
Non- Controlling Interest
Balances beginning ( in shares) at Dec. 31, 2022   604,674        
Balance beginning at Dec. 31, 2022 $ 305,035 $ 59 $ 2,213,603 $ 671 $ (1,908,307) $ (991)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Issuance of common stock upon exercise of stock options (in shares)   4,571        
Issuance of common stock upon exercise of stock options 11,140 $ 1 11,139      
Issuance of common stock under Employee Stock Purchase Plan (in shares)   639        
Issuance of common stock under Employee Stock Purchase Plan 19,921   19,921      
Vesting of restricted stock units (in shares)   6,417        
Stock-based compensation expense 397,266   397,266      
Other comprehensive income/(loss) (14,373)     (14,766)   393
Net loss (554,789)       (551,090) (3,699)
Balance ending (Shares) at Jun. 30, 2023   616,301        
Balance ending at Jun. 30, 2023 164,200 $ 60 2,641,929 (14,095) (2,459,397) (4,297)
Balances beginning ( in shares) at Mar. 31, 2023   610,487        
Balance beginning at Mar. 31, 2023 245,182 $ 60 2,424,340 62 (2,176,620) (2,660)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Issuance of common stock upon exercise of stock options (in shares)   2,308        
Issuance of common stock upon exercise of stock options 5,227   5,227      
Vesting of restricted stock units (in shares)   3,506        
Stock-based compensation expense 212,362   212,362      
Other comprehensive income/(loss) (13,730)     (14,157)   427
Net loss (284,841)       (282,777) (2,064)
Balance ending (Shares) at Jun. 30, 2023   616,301        
Balance ending at Jun. 30, 2023 $ 164,200 $ 60 2,641,929 (14,095) (2,459,397) (4,297)
Balances beginning ( in shares) at Dec. 31, 2023 631,221 631,221        
Balance beginning at Dec. 31, 2023 $ 68,626 $ 61 3,134,946 1,536 (3,060,253) (7,664)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Issuance of common stock upon exercise of stock options (in shares) 4,286 4,286        
Issuance of common stock upon exercise of stock options $ 12,333   12,333      
Issuance of common stock under Employee Stock Purchase Plan (in shares)   1,085        
Issuance of common stock under Employee Stock Purchase Plan 24,742   24,742      
Vesting of restricted stock units (in shares)   10,019        
Stock-based compensation expense 492,393   492,393      
Other comprehensive income/(loss) (7,678)     (7,765)   87
Net loss $ (479,115)       (476,487) (2,628)
Balance ending (Shares) at Jun. 30, 2024 646,611 646,611        
Balance ending at Jun. 30, 2024 $ 111,301 $ 61 3,664,414 (6,229) (3,536,740) (10,205)
Balances beginning ( in shares) at Mar. 31, 2024   639,734        
Balance beginning at Mar. 31, 2024 62,687 $ 61 3,407,986 (5,589) (3,330,857) (8,914)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Issuance of common stock upon exercise of stock options (in shares)   1,692        
Issuance of common stock upon exercise of stock options 4,537   4,537      
Vesting of restricted stock units (in shares)   5,185        
Stock-based compensation expense 251,891   251,891      
Other comprehensive income/(loss) (619)     (640)   21
Net loss $ (207,195)       (205,883) (1,312)
Balance ending (Shares) at Jun. 30, 2024 646,611 646,611        
Balance ending at Jun. 30, 2024 $ 111,301 $ 61 $ 3,664,414 $ (6,229) $ (3,536,740) $ (10,205)
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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Consolidated net loss $ (479,115) $ (554,789)
Adjustments to reconcile net loss including noncontrolling interests to net cash and cash equivalents provided by operations:    
Depreciation and amortization expense 106,513 100,011
Stock-based compensation expense 492,393 397,266
Operating lease non-cash expense 57,488 44,753
(Accretion)/amortization on marketable securities, net (39,533) (31,745)
Amortization of debt issuance costs 679 651
Impairment expense, (gain)/loss on investment and other asset sales, and other, net 443 6,169
Changes in operating assets and liabilities, net of effect of acquisitions:    
Accounts receivable 160,045 122,628
Prepaid expenses and other current assets (12,955) (6,159)
Deferred cost of revenue (52,615) (38,597)
Other assets (6,666) (6,691)
Accounts payable (8,828) 1,576
Accrued expenses and other current liabilities (23,516) (22,344)
Developer exchange liability 15,423 (11,156)
Deferred revenue 197,650 229,155
Operating lease liabilities (29,329) (30,843)
Other long-term liabilities 12,318 2,286
Net cash and cash equivalents provided by operating activities 390,395 202,171
Cash flows from investing activities:    
Acquisition of property and equipment (86,381) (202,274)
Payments related to business combination, net of cash acquired (2,000) 0
Purchases of intangible assets (1,370) (13,500)
Purchases of investments (1,866,782) (3,042,760)
Maturities of investments 1,589,320 324,010
Sales of investments 233,306 229,279
Net cash and cash equivalents used in investing activities (133,907) (2,705,245)
Cash flows from financing activities:    
Proceeds from issuance of common stock 37,247 31,107
Proceeds from debt issuances 0 14,700
Financing payments related to acquisitions (4,450) (750)
Net cash and cash equivalents provided by financing activities 32,797 45,057
Effect of exchange rate changes on cash and cash equivalents (1,345) 807
Net increase/(decrease) in cash and cash equivalents 287,940 (2,457,210)
Cash and cash equivalents    
Beginning of period 678,466 2,977,474
End of period 966,406 520,264
Supplemental disclosure of noncash investing and financing activities:    
Property and equipment additions in accounts payable and accrued expenses and other liabilities $ 23,470 $ 41,263
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Organization and Description of Business
 6 Months Ended
Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Organization and Description of Business
1. Organization and Description of Business
Description of Business
Roblox Corporation (the “Company” or “Roblox”) was incorporated under the laws of the state of Delaware in March 2004. The Company operates a free to use immersive platform for connection and communication (the “Roblox Platform” or “Platform”) where people come to create, play, work, learn, and connect with each other in experiences built by our global community of creators. Users are free to immerse themselves in experiences on the Roblox Platform and can acquire experience-specific enhancements or avatar items by using purchased Robux, our virtual currency. Any user can be a developer or creator on the Platform using Roblox Studio, a set of free software tools. Developers and creators build the experiences that are published on Roblox and can earn Robux by monetizing their experience, creating and selling or reselling avatar items, or creating and selling Roblox Studio plugins.
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Basis of Presentation and Summary of Significant Accounting Policies
 6 Months Ended
Jun. 30, 2024
Accounting Policies [Abstract]  
Basis of Presentation and Summary of Significant Accounting Policies
2. Basis of Presentation and Summary of Significant Accounting Policies
Fiscal Year
The Company’s fiscal year ends on December 31. For example, references to fiscal year 2024 and 2023 refer to the fiscal year ending December 31, 2024 and December 31, 2023, respectively.
Basis of Presentation
The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“U.S. GAAP”), and applicable rules and regulations of the Securities and Exchange Commission (“SEC”), regarding interim financial reporting. Accordingly, they do not include all disclosures normally required in annual consolidated financial statements prepared in accordance with U.S. GAAP. Therefore, these unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023, which was filed with the SEC on February 21, 2024.
In the Company’s opinion, the information contained herein reflects all adjustments necessary for a fair presentation of the Company’s results of operations, financial position, cash flows, and stockholders’ equity. All such adjustments are of a normal, recurring nature. The results of operations for the three and six months ended June 30, 2024 shown in this report are not necessarily indicative of the results to be expected for the full year ending December 31, 2024 or any other interim period.
For a discussion of the Company’s significant accounting policies, refer to the header “Foreign Currency Transactions” below, as well as the significant accounting policies as described in the Company’s consolidated financial statements and related notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023, which was filed with the SEC on February 21, 2024.
Principles of Consolidation
The condensed consolidated financial statements include the accounts of the Company and subsidiaries over which the Company has control. All intercompany transactions and balances have been eliminated. The condensed consolidated financial statements include 100% of the accounts of wholly owned and majority owned subsidiaries, and the ownership interest of minority investors is recorded as noncontrolling interest.
Use of Estimates
The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. Significant estimates and assumptions reflected in the condensed consolidated financial statements include, but are not limited to, the estimated period of time the virtual items are available to the user, which is estimated as the average lifetime of a paying user, and the estimated amount of consumable and durable virtual items purchased for which the Company lacks specific information that is used for revenue recognition, the estimated amount of expected breakage related to prepaid card sales, useful lives of property and equipment and intangible assets, fair value of assets and liabilities acquired through acquisitions, accrued liabilities (including accrued developer exchange fees), contingent liabilities, valuation of deferred tax assets and liabilities, stock-based compensation expense, the discount rate used in measuring our operating lease liabilities, the carrying value of operating lease right-of-use assets, evaluation of recoverability of goodwill, intangible assets and long-lived assets, and as necessary, estimates of fair value to measure impairment losses. Management believes that the estimates, and judgments upon which they rely, are reasonable based upon information available to them at the time that these estimates and judgments are made. Actual results could differ from those estimates and any such differences may be material to the condensed consolidated financial statements. To the extent that there are material differences between these estimates and actual results, the Company’s condensed consolidated financial statements will be affected.
Change in Accounting Estimate
At the onset of the second quarter of 2024, we updated our estimated paying user life from 28 months to 27 months. Based on the carrying amount of deferred revenue and deferred cost of revenue as of March 31, 2024, the change resulted in an increase in revenue and cost of revenue during the three months ended June 30, 2024 by $58.9 million and $12.4 million, respectively. It is estimated that this change will increase our fiscal year 2024 revenue and cost of revenue by $98.0 million and $20.4 million, respectively.
The estimated paying user life was 28 months during the three and six months ended June 30, 2023.
Refer to the heading “Basis of Presentation and Summary of Significant Accounting Policies — Revenue Recognition Policy” as described in the Company’s consolidated financial statements and related notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023, which was filed with the SEC on February 21, 2024, for a complete discussion on the Company’s revenue recognition policies.
Foreign Currency Transactions
Beginning January 1, 2024, the functional currency of certain non-U.S. dollar functional currency international subsidiaries was re-assessed from the U.S. dollar to the local currency that the international subsidiary operates in. Prior to January 1, 2024, the functional currency of the Company’s international subsidiaries was primarily the U.S. dollar. The effects of the changes in functional currency were not significant to our condensed consolidated financial statements.
The Company translates the financial statements of non-U.S. dollar functional currency subsidiaries to U.S. dollars using the period-end exchange rate for assets and liabilities and the average exchange rate for the period for revenues and expenses. The effects of foreign currency translation are included in stockholders’ equity and periodic movements are summarized as a line item in the condensed consolidated statements of comprehensive loss.
The Company reflects foreign exchange transaction gains and losses resulting from the conversion of the transaction currency to the functional currency, which includes gains and losses from the remeasurement of assets and liabilities, as a component of other income/(expense), net.
Recent Accounting Pronouncements
Recent Accounting Pronouncements Not Yet Adopted
In November 2023, the FASB issued ASU 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures,” which requires public entities to disclose expanded information about their reportable segment(s)’ significant expenses and other segment items on an interim and annual basis. The ASU does not change how a public entity identifies or aggregates its operating segments. The ASU is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The ASU is required to be applied retrospectively to all prior periods presented in the financial statements once adopted. The Company is evaluating the disclosure requirements related to the new standard.
In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures,” which requires public entities to disclose specific tax rate reconciliation categories, as well as income taxes paid disaggregated by jurisdiction, amongst other disclosure enhancements. The ASU is effective for financial statements issued for annual periods beginning after December 15, 2024, with early adoption permitted. The ASU can be adopted on a prospective or retrospective basis. The Company is evaluating the disclosure requirements related to the new standard.
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Revenue from Contracts with Customers
 6 Months Ended
Jun. 30, 2024
Revenue from Contract with Customer [Abstract]  
Revenue from Contracts with Customers
3. Revenue from Contracts with Customers
The following table summarizes revenue by region based on the billing country of users (in thousands, except percentages):
 
Three Months Ended June 30,
 20242023
 AmountPercentage of RevenueAmountPercentage of Revenue
United States and Canada (1)
$565,867 63 %$439,523 65 %
Europe163,407 18 123,532 18 
Asia-Pacific, including Australia and New Zealand95,055 11 69,102 10 
Rest of world69,214 8 48,609 7 
Total$893,543 100 %$680,766 100 %
 
Six Months Ended June 30,
 20242023
 AmountPercentage of RevenueAmountPercentage of Revenue
United States and Canada (1)
$1,075,431 63 %$865,286 65 %
Europe308,971 18 242,062 18 
Asia-Pacific, including Australia and New Zealand180,329 11 134,230 10 
Rest of world130,112 8 94,532 7 
Total$1,694,843 100 %$1,336,110 100 %
The Company’s revenues in the United States were 59% of consolidated revenue for each of the three and six months ended June 30, 2024 and were 60% and 61% for the three and six months ended June 30, 2023, respectively.
No individual country, other than the United States, exceeded 10% of the Company’s consolidated revenue for any period presented.
Durable virtual items accounted for 92% of virtual item-related revenue for each of the three and six months ended June 30, 2024, respectively, and 92% and 91% in the three and six months ended June 30, 2023, respectively. Consumable virtual items accounted for 8% of virtual item-related revenue for each of the three and six months ended June 30, 2024, respectively, and 8% and 9% in the three and six months ended June 30, 2023, respectively.
Deferred Revenue
The Company receives payments from its users based on the payment terms established in its contracts. Such payments are initially recorded to deferred revenue and are recognized into revenue as the Company satisfies its performance obligations. The aggregate amount of revenue allocated to unsatisfied performance obligations is included in our deferred revenue balances.
The increase in deferred revenue for the six months ended June 30, 2024 was driven by sales during the period exceeding revenue recognized from the satisfaction of our performance obligations, which includes the revenue recognized during the period that was included in the current portion of deferred revenue at the beginning of the period. During the six months ended June 30, 2024, we recognized $1,388.6 million of revenue that was included in the current deferred revenue balance as of December 31, 2023.
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Leases
 6 Months Ended
Jun. 30, 2024
Leases [Abstract]  
Leases
4. Leases
On February 7, 2024, the Company executed a lease assignment as sub-lessee pursuant to which the Company will sublease approximately 133,137 square feet of office space in San Mateo, California for a lease term of approximately four years (the “2024 Sub-Lessee Agreement”). Concurrent with the execution of the 2024 Sub-Lessee Agreement, the Company executed a sublease as sub-lessor pursuant to which it will sublease approximately 61,773 square feet of its San Mateo, California corporate headquarters to the sub-lessee for a lease term of approximately three years (the “2024 Sub-Lessor Agreement”).
The total lease payments due by the Company over the sublease term under the 2024 Sub-Lessee Agreement are $38.9 million and the Company took possession of the assigned space in April 2024. The total lease payments due to the Company over the sublease term under the 2024 Sub-Lessor Agreement are approximately $13.0 million and the Company provided possession to the sub-lessee in April 2024.
The Company also took possession of data center leased space in the first quarter of 2024, with lease payments – net of leasehold incentives – totaling $95.4 million over a seven year lease term.
Leases
4. Leases
On February 7, 2024, the Company executed a lease assignment as sub-lessee pursuant to which the Company will sublease approximately 133,137 square feet of office space in San Mateo, California for a lease term of approximately four years (the “2024 Sub-Lessee Agreement”). Concurrent with the execution of the 2024 Sub-Lessee Agreement, the Company executed a sublease as sub-lessor pursuant to which it will sublease approximately 61,773 square feet of its San Mateo, California corporate headquarters to the sub-lessee for a lease term of approximately three years (the “2024 Sub-Lessor Agreement”).
The total lease payments due by the Company over the sublease term under the 2024 Sub-Lessee Agreement are $38.9 million and the Company took possession of the assigned space in April 2024. The total lease payments due to the Company over the sublease term under the 2024 Sub-Lessor Agreement are approximately $13.0 million and the Company provided possession to the sub-lessee in April 2024.
The Company also took possession of data center leased space in the first quarter of 2024, with lease payments – net of leasehold incentives – totaling $95.4 million over a seven year lease term.
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Cash Equivalents and Investments
 6 Months Ended
Jun. 30, 2024
Investments, Debt and Equity Securities [Abstract]  
Cash Equivalents and Investments
5. Cash Equivalents and Investments
The following is a summary of the Company’s cash equivalents and short-term and long-term investments (in thousands):
As of June 30, 2024
Amortized CostGross Unrealized GainsGross Unrealized LossesFair ValueCash EquivalentsShort-Term InvestmentsLong-Term Investments
Debt Securities
Level 1
Money market funds$907,229 $— $— $907,229 $907,229 $— $— 
U.S. Treasury securities1,711,715 235 (5,860)1,706,090 — 1,158,402 547,688 
Subtotal2,618,944 235 (5,860)2,613,319 907,229 1,158,402 547,688 
Level 2
U.S. agency securities323,932 10 (299)323,643 — 47,453 276,190 
Commercial paper192,136 — — 192,136 9,978 182,158 — 
Corporate debt securities422,521 660 (1,709)421,472 — 56,215 365,257 
Subtotal938,589 670 (2,008)937,251 9,978 285,826 641,447 
Total Debt Securities$3,557,533 $905 $(7,868)$3,550,570 $917,207 $1,444,228 $1,189,135 
Equity Securities
Level 1
Mutual funds (1)
$1,461 $— $1,461 $— 
Total Equity Securities$1,461 $— $1,461 $— 
Total Investments$3,557,533 $905 $(7,868)$3,552,031 $917,207 $1,445,689 $1,189,135 
As of December 31, 2023
Amortized CostGross Unrealized GainsGross Unrealized LossesFair ValueCash EquivalentsShort-Term InvestmentsLong-Term Investments
Debt Securities
Level 1
Money market funds$614,888 $— $— $614,888 $614,888 $— $— 
U.S. Treasury securities1,692,700 2,007 (2,547)1,692,160 — 1,155,218 536,942 
Subtotal2,307,588 2,007 (2,547)2,307,048 614,888 1,155,218 536,942 
Level 2
U.S. agency securities286,007 27 (197)285,837 — 137,151 148,686 
Commercial paper184,465 — — 184,465 14,827 169,638 — 
Corporate debt securities409,037 2,066 (1,262)409,841 — 52,070 357,771 
Subtotal879,509 2,093 (1,459)880,143 14,827 358,859 506,457 
Total Debt Securities$3,187,097 $4,100 $(4,006)$3,187,191 $629,715 $1,514,077 $1,043,399 
Equity Securities
Level 1
Mutual funds (1)
$731 $— $731 $— 
Total Equity Securities$731 $— $731 $— 
Total Investments$3,187,097 $4,100 $(4,006)$3,187,922 $629,715 $1,514,808 $1,043,399 
(1)The equity securities relate to the Company’s nonqualified deferred compensation plan and are held in a rabbi trust. Refer to Note 14, “Employee and Director Benefits”, to the notes to the condensed consolidated financial statements for more information.
As of June 30, 2024, all of the Company’s short-term debt investments have contractual maturities of one year or less and all of the Company’s long-term debt investments have contractual maturities between one and five years.
Changes in market interest rates, credit risk of borrowers and overall market liquidity, amongst other factors, may cause our short-term and long-term debt investments to fall below their amortized cost basis, resulting in unrealized losses. For those debt securities in an unrealized loss position as of June 30, 2024, the unrealized losses were primarily driven by increases in interest rates following the date of purchase and the Company does not intend to sell, nor is it more likely than not it will be required to sell, such securities before recovering the amortized cost basis.
The following table presents fair values and gross unrealized losses, aggregated by investment category and the length of time that individual securities have been in a continuous loss position (in thousands):
As of June 30, 2024
Less Than 12 Months12 Months or GreaterTotal
Fair ValueUnrealized LossesFair ValueUnrealized LossesFair ValueUnrealized Losses
U.S. Treasury securities$1,046,150 $(1,445)$350,312 $(4,415)$1,396,462 $(5,860)
U.S. agency securities276,175 (258)32,458 (41)308,633 (299)
Corporate debt securities194,913 (903)95,549 (806)290,462 (1,709)
Total$1,517,238 $(2,606)$478,319 $(5,262)$1,995,557 $(7,868)
As of December 31, 2023
Less Than 12 Months12 Months or GreaterTotal
Fair ValueUnrealized LossesFair ValueUnrealized LossesFair ValueUnrealized Losses
U.S. Treasury securities$486,424 $(2,547)$— $— $486,424 $(2,547)
U.S. agency securities182,475 (197)— — 182,475 (197)
Corporate debt securities248,287 (1,262)— — 248,287 (1,262)
Total$917,186 $(4,006)$— $— $917,186 $(4,006)
v3.24.2.u1
Acquisitions
 6 Months Ended
Jun. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]  
Acquisitions
6. Acquisitions
Speechly, Inc.
On September 18, 2023 (the “Speechly Acquisition Date”), the Company acquired all outstanding equity interests of Speechly, Inc. and its wholly owned Finnish subsidiary Speechly Oy (together, “Speechly”). Speechly is a privately held company, that operates a speech recognition software focused on voice moderation. The acquisition has been accounted for as a business combination. The consideration totaled $10.1 million, which included (i) $4.8 million of cash paid on the Speechly Acquisition Date and (ii) $5.3 million of cash held back until certain post-acquisition conditions are satisfied.
The following table summarizes the Company’s preliminary allocation of the purchase consideration based on the fair value of assets acquired and liabilities assumed at the Speechly Acquisition Date (in thousands):
 September 18, 2023
Cash and cash equivalents$970 
Other current assets acquired111 
Intangible assets, net
Developed technology, useful life of five years
2,800 
Goodwill7,536 
Other current liabilities assumed$(1,117)
Other long-term liabilities assumed(182)
Total purchase price$10,118 
Goodwill is attributable to the assembled workforce and anticipated synergies arising from the acquisition. The goodwill recognized is not expected to be deductible for income tax purposes.
v3.24.2.u1
Goodwill and Intangible Assets
 6 Months Ended
Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets
7. Goodwill and Intangible Assets
Goodwill
The following table represents the changes to goodwill during the six months ended June 30, 2024 (in thousands):
 Carrying Amount
Balance as of December 31, 2023
$142,129 
Foreign currency translation adjustments(229)
Balance as of June 30, 2024
$141,900 
There are no accumulated impairment losses for any period presented.
Intangible Assets
The following tables present details of the Company’s finite-lived intangible assets as of June 30, 2024 and December 31, 2023 (in thousands):
As of June 30, 2024
Gross Carrying AmountAccumulated Amortization ExpenseNet Carrying
Amount
Developed technology$75,370 $(46,975)$28,395 
Patents14,200 (1,400)12,800 
Assembled workforce10,000 (9,042)958 
Trade name500 (283)217 
Total intangible assets$100,070 $(57,700)$42,370 
As of December 31, 2023
Gross Carrying AmountAccumulated Amortization ExpenseNet Carrying
Amount
Developed technology$75,455 $(39,411)$36,044 
Patents14,200 (650)13,550 
Assembled workforce10,000 (7,374)2,626 
Trade name500 (233)267 
Total intangible assets$100,155 $(47,668)$52,487 
The above tables do not include $0.7 million and $0.6 million of indefinite lived intangible assets as of June 30, 2024 and December 31, 2023, respectively.
Amortization expense related to our finite-lived intangible assets was $5.0 million and $10.1 million for the three and six months ended June 30, 2024, respectively, and $4.5 million and $9.0 million for the three and six months ended June 30, 2023, respectively.
Expected future amortization expenses related to the Company’s finite-lived intangible assets as of June 30, 2024 are as follows (in thousands):
Year ending December 31:
Remainder of 2024$8,901 
202515,710 
20266,676 
20273,112 
20281,922 
Thereafter6,049 
Total remaining amortization$42,370 
v3.24.2.u1
Other Balance Sheet Components
 6 Months Ended
Jun. 30, 2024
Other Balance Sheet Components [Abstract]  
Other Balance Sheet Components
8. Other Balance Sheet Components
Prepaid expenses and other current assets
Prepaid expenses and other current assets consisted of the following (in thousands):
 As of
 June 30,
2024		December 31,
2023
Prepaid expenses$60,268 $48,555 
Accrued interest receivable18,788 14,697 
Other current assets8,044 11,297 
Total prepaid expenses and other current assets$87,100 $74,549 
Property and equipment, net
Property and equipment, net, consisted of the following (in thousands):
 As of
 June 30,
2024		December 31,
2023
Servers and related equipment and software$919,489 $914,989 
Computer hardware and software licenses46,633 43,732 
Furniture and fixtures1,434 520 
Leasehold improvements102,513 101,785 
Construction in progress138,586 77,043 
Total property and equipment1,208,655 1,138,069 
Less accumulated depreciation and amortization expense(533,580)(442,709)
Property and equipment—net$675,075 $695,360 
Construction in progress primarily relates to leasehold improvements for the Company’s leased office buildings and network equipment infrastructure to support the Company’s data centers.
Depreciation and amortization expense of property and equipment was $47.8 million and $96.5 million for the three and six months ended June 30, 2024, respectively, and $48.1 million and $91.0 million for the three and six months ended June 30, 2023, respectively.
Accrued expenses and other current liabilities
Accrued expenses and other current liabilities consisted of the following (in thousands):
 As of
 June 30,
2024		December 31,
2023
Accrued operating expenses$58,229 $51,921 
Short term operating lease liabilities136,958 111,293 
Accrued interest on the 2030 Notes6,458 6,458 
Taxes payable47,425 59,632 
Accrued compensation and other employee related liabilities16,176 32,125 
Other current liabilities4,593 9,692 
Total accrued expenses and other current liabilities$269,839 $271,121 
v3.24.2.u1
Debt
 6 Months Ended
Jun. 30, 2024
Debt Disclosure [Abstract]  
Debt
9. Debt
2030 Notes
On October 29, 2021, the Company issued $1.0 billion aggregate principal amount of its 3.875% Senior Notes due 2030 (the “2030 Notes”). The 2030 Notes mature on May 1, 2030. The 2030 Notes bear interest at a rate of 3.875% per annum. Interest on the 2030 Notes is payable semi-annually in arrears on May 1 and November 1 of each year, commencing on May 1, 2022.
The aggregate proceeds from offering of the 2030 Notes were approximately $987.5 million, after deducting lenders costs and other issuance costs incurred by the Company. The issuance costs of $12.5 million are amortized into interest expense using the effective interest method over the term of the 2030 Notes.
The Company may voluntarily redeem the 2030 Notes, in whole or in part, under the following circumstances:
(1)at any time prior to November 1, 2024, the Company may on any one or more occasions redeem up to 40% of the aggregate principal amount of the 2030 Notes at a redemption price of 103.875% of the principal amount including accrued and unpaid interest, if any, with the net cash proceeds of certain equity offerings; provided that (1) at least 50% of the aggregate principal amount of 2030 Notes originally issued remains outstanding immediately after the occurrence of such redemption (excluding 2030 Notes held by the Company and its subsidiaries); and (2) the redemption occurs within 180 days of the date of the closing of such equity offerings.
(2)on or after November 1, 2024, the Company may redeem all or a part of the 2030 Notes at the following redemption prices (expressed as percentages of principal amount), plus accrued and unpaid interest, if any, to, but excluding, the applicable redemption date:
YearPercentage
2024
101.938 %
2025
100.969 %
2026 and thereafter
100.000 %
(3)at any time prior to November 1, 2024, the Company may redeem all or a part of the 2030 Notes at a redemption price equal to 100% of the principal amount of 2030 Notes redeemed, including accrued and unpaid interest, if any, plus the applicable “make-whole” premium set forth in the indenture governing the 2030 Notes (the “Indenture”) as of the date of such redemption; and
(4)in connection with any tender offer for the 2030 Notes, including an offer to purchase (as defined in the Indenture), if holders of not less than 90% in aggregate principal amount of the outstanding 2030 Notes validly tender and do not withdraw such notes in such tender offer and the Company (or any third party making such a tender offer in lieu of the Company) purchases all of the 2030 Notes validly tendered and not withdrawn by such holders, the Company (or such third party) will have the right, upon not less than 10, but not more than 60 days’ prior notice, given not more than 30 days following such purchase date to the holders of the 2030 Notes and the trustee, to redeem all of the 2030 Notes that remain outstanding following such purchase at a redemption price equal to the price offered to each holder of 2030 Notes (excluding any early tender or incentive fee) in such tender offer plus to the extent not included in the tender offer payment, accrued and unpaid interest, if any.
In certain circumstances involving a change of control triggering event (as defined in the Indenture), the Company will be required to make an offer to repurchase all, or at the holder’s option, any part, of each holder’s 2030 Notes at a repurchase price equal to 101% of the principal amount, plus accrued and unpaid interest, if any, to the applicable repurchase date.
The 2030 Notes are unsecured obligations and the Indenture contains covenants limiting the Company and its subsidiaries’ ability to: (i) create certain liens and enter into sale and lease-back transactions; (ii) create, assume, incur or guarantee certain indebtedness; or (iii) consolidate or merge with or into, or sell or otherwise dispose of all of substantially all of the Company and its subsidiaries’ assets to another person. These covenants are subject to a number of limitations and exceptions set forth in the Indenture and non-compliance with these covenants may result in the accelerated repayment of the 2030 Notes and any accrued and unpaid interest.
As of June 30, 2024, the Company was in compliance with all of its covenants under the Indenture.
The net carrying amount of the 2030 Notes, which is presented as a component of long-term debt in the Company’s condensed consolidated financial statements, was as follows (in thousands):
As of
June 30,
2024		December 31,
2023
2030 Notes
Principal
$1,000,000 $1,000,000 
Unamortized issuance costs
(9,021)(9,700)
Net carrying amount
$990,979 $990,300 
Interest expense related to the 2030 Notes was as follows (in thousands):
Three Months Ended June 30,
Six Months Ended June 30,
2024202320242023
Contractual interest expense
$9,688 $9,688 $19,376 $19,376 
Amortization of debt issuance costs
341 327 679 651 
Total interest expense
$10,029 $10,015 $20,055 $20,027 
The debt issuance costs for the 2030 Notes are amortized to interest expense over the term of the 2030 Notes using an annual effective interest rate of 4.05%.
As of June 30, 2024 and December 31, 2023, the estimated fair value of the 2030 Notes was approximately $889.0 million and $891.8 million, respectively, determined based on the last trading price of the 2030 Notes during the reporting period (a Level 2 input).
Joint Venture Financing
Refer to Note 15, “Joint Venture”, in the notes to the condensed consolidated financial statements for additional information on debt issued by the Company’s consolidated subsidiary, Roblox China Holding Corp.
v3.24.2.u1
Commitments and Contingencies
 6 Months Ended
Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies
10. Commitments and Contingencies
Lease Commitments—The Company leases office facilities and space for data center operations under operating leases expiring in various years through 2035. Certain of these arrangements have free or escalating rent payment provisions and optional renewal clauses. All of the Company’s leases are accounted for as operating leases. There has been no material change in the Company’s lease commitments during the six months ended June 30, 2024, other than for lease commitments primarily related to office facilities and data centers in the ordinary course of business. See Note 4, “Leases” in the notes to the condensed consolidated financial statements for additional information.
Purchase Obligations—Non-cancellable contractual purchase obligations primarily consist of contracts associated with data center and software vendors. There has been no material change in the Company’s purchase obligations during the six months ended June 30, 2024, other than non-cancelable purchase commitments made in the ordinary course of business, primarily related to data center and software vendors.
Letters of Credit—The Company has letters of credit in connection with its operating leases which are not reflected in the Company’s condensed consolidated balance sheets as of June 30, 2024 and December 31, 2023. There have been no material changes to the Company’s letters of credit during the three months ended June 30, 2024.
Legal Proceedings—The Company is and, from time to time may in the future become, involved in legal proceedings, claims and litigation in the ordinary course of business.
As of June 30, 2024 and December 31, 2023, the Company accrued for immaterial losses related to litigation matters that the Company believes to be probable and for which an amount of loss can be reasonably estimated. The Company considered the progress of these cases, the opinions and views of its legal counsel and outside advisors, its experience and settlements in similar cases, and other factors in arriving at the conclusion that a potential loss was probable. The Company cannot determine a reasonable estimate of the maximum possible loss or range of loss for all of these matters given that they are at various stages of the litigation process and each case is subject to the inherent uncertainties of litigation. The Company may incur substantial legal fees, which are expensed as incurred, in defending against these legal proceedings. The maximum amount of liability that may ultimately result from any of these matters cannot be predicted with absolute certainty and the ultimate resolution of one or more of these matters could ultimately have a material adverse effect on our operations.
On August 1, 2023, a putative class action was filed against the Company in the United States District Court for the Northern District of California, captioned Colvin v. Roblox (the “Colvin matter”), asserting various claims arising from allegations that minors used third-party virtual casinos to gamble Robux. On December 15, 2023, the Company filed a motion to dismiss and on March 26, 2024, the motion to dismiss was granted in part and denied in part, allowing plaintiffs’ negligence and California Unfair Competition Law claims to proceed. On March 28, 2024, a supplemental order clarified that plaintiffs’ claims for unjust enrichment and equitable relief could proceed as well. On April 9, 2024, plaintiffs filed an amended complaint realleging the California Consumer Legal Remedies Act and New York General Business Law claims that had been dismissed.
Separately, on March 14, 2024, Gentry v. Roblox was filed in the United States District Court for the Northern District of California premised on substantially identical allegations as the Colvin matter. On April 18, 2024, the Gentry v. Roblox matter was consolidated with the Colvin matter. Plaintiffs filed a consolidated complaint on April 23, 2024. The consolidated complaint seeks monetary damages, including actual, punitive, and statutory damages, restitution, attorneys’ fees and costs, and declaratory and injunctive relief. The Company filed a motion to dismiss the consolidated complaint on May 14, 2024 and the Court's decision on the motion to dismiss is pending.
The Company intends to defend itself vigorously against all claims asserted. At this time, the Company is unable to reasonably estimate the loss or range of loss, if any, arising from the above-referenced matter.
Indemnification—In the ordinary course of business, the Company enters into agreements that may include indemnification provisions. Pursuant to such agreements, the Company may indemnify, hold harmless and defend an indemnified party for losses suffered or incurred by the indemnified party. Some of the provisions will limit losses to those arising from third-party actions. In some cases, the indemnification will continue after the termination of the agreement. The maximum potential amount of future payments the Company could be required to make under these provisions is not determinable. To date, the Company has not incurred material costs to defend lawsuits or settle claims related to these indemnification provisions.
The Company has also entered into indemnification agreements with its directors and officers that may require the Company to indemnify its directors and officers against liabilities that may arise by reason of their status or service as directors or officers to the fullest extent permitted by Delaware corporate law. To date, the Company has not incurred any material costs and has not accrued any liabilities related to such obligations. The Company also has directors’ and officers’ insurance.
v3.24.2.u1
Stockholders' Equity
 6 Months Ended
Jun. 30, 2024
Stockholders' Equity Note [Abstract]  
Stockholders' Equity
11. Stockholders’ Equity
As of June 30, 2024, the Company had 4,935.0 million shares of Class A common stock authorized, with a par value of $0.0001 per share, 65.0 million shares of Class B common stock authorized, with a par value of $0.0001 per share, and 100.0 million shares of preferred stock authorized, with a par value of $0.0001 per share. Holders of Class A common stock are entitled to one vote per share. Holders of Class B common stock are entitled to 20 votes per share.
During the first quarter of 2024 and 2023, respectively, 1.4 million and 1.3 million shares of Class B common stock held by entities affiliated with Mr. Baszucki, Founder, President, CEO and Chair of our Board of Directors (the “CEO”) were converted to Class A common stock.
Class A and Class B common stock are referred to as common stock throughout the notes to the condensed consolidated financial statements, unless otherwise noted.
The Company had reserved shares of common stock for future issuance as follows (in thousands):
 As of
 June 30,
2024		December 31,
2023
Stock options outstanding35,718 40,159 
Restricted Stock Units (“RSUs”) outstanding37,702 39,846 
Performance Stock Units (“PSUs”) (1)
2,304 905 
CEO Long-Term Performance Award (1)(2)
— 11,500 
2020 Equity Incentive Plan100,056 66,114 
2020 Employee Stock Purchase Plan21,301 16,075 
Stock warrants outstanding264 264 
Unregistered stock awards (“RSAs”) outstanding99 149 
Total197,444 175,012 
(1)Represents the shares of common stock reserved for future issuance at the maximum achievement levels.
(2)On March 1, 2024, the Leadership Development and Compensation Committee (i) approved the cancellation of the CEO Long-Term Performance Award, which was previously granted to the CEO under the 2017 Amended and Restated Equity Incentive Plan and (ii) granted Mr. Baszucki a new PSU award and RSU award. The PSUs and RSUs granted to Mr. Baszucki on March 1, 2024 are included in those respective rows above as of June 30, 2024. Refer to Note 12, “Stock-Based Compensation Expense”, to the notes to the condensed consolidated financial statements for further discussion.
v3.24.2.u1
Stock-based Compensation Expense
 6 Months Ended
Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]  
Stock-based Compensation Expense
12. Stock-Based Compensation Expense
The Company has three equity incentive plans: its 2004 Incentive Stock Plan (the “2004 Plan”), its 2017 Amended and Restated Equity Incentive Plan (the “2017 Plan”) and its 2020 Equity Incentive Plan (the “2020 Plan”). The Company’s stockholders approved the 2020 Plan in 2020, which became effective in connection with the Company’s March 10, 2021 direct listing of its Class A common stock (the “Direct Listing”). The 2017 Plan was terminated effective immediately prior to the direct listing in connection with the effectiveness of the Company’s 2020 Plan, and accordingly no shares are available for issuance under the 2017 Plan. The 2004 Plan was terminated on the effective date of the 2017 Plan, and accordingly no shares are available for issuance under the 2004 Plan. Any outstanding stock awards under the 2004 Plan and 2017 Plan remain outstanding, subject to the terms of the applicable plan and award agreements, until such shares are issued under those stock awards, by exercise of stock options or settlement of RSUs or until those stock awards become vested or expired by their terms.
Additionally, in 2020, the Company’s stockholders approved the 2020 Employee Stock Purchase Plan (the “2020 ESPP”), which became effective in connection with the Direct Listing.
Stock-based compensation expense
Stock-based compensation expense included in the condensed consolidated statements of operations was as follows (in thousands):
 Three Months Ended June 30,Six Months Ended June 30,
 2024202320242023
Infrastructure and trust & safety$27,973 $22,695 $55,248 $41,227 
Research and development180,556 147,768 353,803 277,025 
General and administrative34,796 34,823 66,441 65,473 
Sales and marketing8,566 7,076 16,901 13,541 
Total stock-based compensation expense$251,891 $212,362 $492,393 $397,266 
Stock Options
The following table summarizes the Company’s stock option activity (in thousands, except per option data and remaining contractual term):
 Options Outstanding
 Number of
Shares Subject
to Options		Weighted-Average
Exercise
Price (per Option)		Weighted-Average Remaining
Contractual
Term (Years)		Aggregate
Intrinsic
Value
Balances as of December 31, 202340,159 $2.98 5.16$1,716,171 
Granted— — 
Cancelled, forfeited, and expired(155)$5.01 
Exercised(4,286)$2.88 
Balances as of June 30, 202435,718 $2.99 4.69$1,222,343 
Exercisable as of June 30, 2024
35,047 $2.95 4.66$1,200,830 
Vested and expected to vest at June 30, 2024
35,718 $2.99 4.69$1,222,343 
RSUs and RSAs
The following table summarizes the Company’s RSU and RSA activity (in thousands, except per share data):
 RSUsRSAs
 Number of
Shares		Weighted-Average
Grant Date
Fair Value (per Share)		Number of
Shares		Weighted-Average
Grant Date
Fair Value (per Share)
Unvested as of December 31, 202339,846 $42.25 149 $46.00 
Granted10,606 $39.05 — — 
Vested and released(10,019)$43.14 (50)$46.00 
Cancelled(2,731)$41.83 — — 
Unvested as of June 30, 202437,702 $41.14 99 $46.00 
CEO PSUs and RSUs
CEO Long-Term Performance Award
In February 2021, the Leadership Development and Compensation Committee granted a PSU award (the “CEO Long-Term Performance Award”) under the 2017 Plan, which provided our CEO the opportunity to earn a maximum number of 11,500,000 shares of Class A common stock. The CEO Long-Term Performance Award would have vested upon the satisfaction of a service condition and achievement of certain Class A common stock price targets over five years. The Leadership Development and Compensation Committee approved the cancellation of the CEO-Long Term Performance Award on March 1, 2024, as further discussed below. The Class A common stock price targets were not achieved and therefore no shares vested under the CEO Long-Term Performance Award prior to its cancellation.
2024 CEO PSUs and RSUs
On March 1, 2024 (the “Modification Date”), the Leadership Development and Compensation Committee (i) approved the cancellation of the CEO Long-Term Performance Award and (ii) granted Mr. Baszucki a new PSU award (the “2024 CEO PSU Award”) and RSU award (collectively, the “2024 CEO Award”). As of the Modification Date, $84.4 million of stock-based compensation expense remained unrecognized related to the CEO Long-Term Performance Award.
The Company determined that the concurrent cancellation of the CEO Long-Term Performance Award and granting of the 2024 CEO Award represented a modification of the CEO Long-Term Performance Award. As of the Modification Date, total subsequent stock-based compensation expense to be recognized was measured as (i) the remaining unrecognized stock-based compensation expense related to the grant date fair value of the CEO Long-Term Performance Award and (ii) the incremental fair value resulting from the modification, if any. To estimate the incremental fair value resulting from the modification (if any), the Company first estimated the fair value of the modified CEO Long-Term Performance Award immediately prior to the Modification Date using a model based on multiple stock price outcomes developed through the use of a Monte Carlo simulation that incorporated into the valuation the possibility that the stock price targets may not be satisfied. A Monte Carlo simulation model requires the use of various assumptions, including the underlying stock price, volatility, and the risk-free interest rate as of the valuation date, corresponding to the length of time remaining in the performance period, and expected dividend yield. On the Modification Date, the estimated fair value of the CEO Long-Term Performance Award immediately prior to the modification was greater than the estimated fair value of the 2024 CEO Award (which was generally estimated based on the Modification Date fair value of the Class A common stock underlying the 2024 CEO Award, with consideration of the probability of achievement against the pre-established performance measures). As a result, the modification did not result in any incremental stock-based compensation expense. As of the Modification Date, total subsequent stock-based compensation expense to be recognized totaled $84.4 million. Of the total estimated stock-based compensation expense, 75% of the value was allocated to the 2024 CEO PSU Award with the remaining 25% allocated to the RSUs, based on the relative value of the two awards on the Modification Date.
Under the 2024 CEO PSU Award, the number of shares that can be earned will range from 0% to 200% of the target number of shares based on the Company’s performance against two independent performance measures relative to pre-established thresholds during a two-year performance period ending on December 31, 2025. The two independent performance measures include the Company’s cumulative (i) bookings during the performance period, as defined in the grant agreement with the CEO and (ii) Adjusted EBITDA during the performance period, which correlates to the covenant adjusted EBITDA calculation used in certain covenant calculations specified in the indenture governing our 2030 Notes (the “PSU Adjusted EBITDA”). Further, the awards are subject to Mr. Baszucki’s continuous service with the Company through each vesting date, with the initial vesting date to occur in the first quarter of 2026 (of which 67% of the award earned, if any, will vest) and the remaining vesting dates to occur in four equal quarterly installments beginning in the second quarter of 2026. The Company will recognize stock-based compensation expense for the 2024 CEO PSU Award on an accelerated attribution method over the requisite service period of each separately vesting tranche. Actual performance against the pre-established threshold under the 2024 CEO PSU Award will have no impact on the subsequent stock-based compensation expense recognized.
The target number of the 2024 CEO PSU Award was 446,534 in aggregate, with 80% of the target number of shares allocated to the cumulative bookings performance measure and 20% of the target number of shares allocated to the cumulative PSU Adjusted EBITDA performance measure.
The Company recorded $7.3 million of stock-based compensation expense related to the 2024 CEO PSU Award and $17.8 million of stock-based compensation expense related to the 2024 CEO PSU Award and CEO Long-Term Performance Award, in total, during the three and six months ended June 30, 2024, respectively, within general and administrative expenses. The Company recorded $12.2 million and $24.2 million of stock-based compensation expense related to the CEO Long-Term Performance Award during the three and six months ended June 30, 2023, respectively, within general and administrative expenses.
The number of RSUs granted under the 2024 CEO Award totaled 148,844 and the RSUs will vest quarterly over a three-year service period beginning March 1, 2024, subject to Mr. Baszucki’s continued service with the Company on each vesting date.
Other PSUs
2024 Executive PSU Awards
During the first quarter of 2024, the Leadership Development and Compensation Committee granted PSU awards to certain members of management (the “2024 Executive PSU Awards”). The vesting requirements, performance metrics, and performance period of the 2024 Executive PSU Awards are consistent with those of the 2024 CEO PSU Award.
The target number of 2024 Executive PSU Awards was 353,241 in total, with 80% of the target number of shares allocated to the cumulative bookings performance measure and 20% of the target number of shares allocated to the cumulative PSU Adjusted EBITDA performance measure.
The Company recognizes stock-based compensation expense for the 2024 Executive PSU Awards based upon the per-share grant date fair value of $41.32 on an accelerated attribution method over the requisite service period of each separately vesting tranche. At each reporting period, the amount of stock-based compensation is determined based on the probability of achievement against the pre-established performance measures and if necessary, a cumulative catch-up adjustment is recorded to reflect any revised estimates regarding the probability of achievement.
During each of the three and six months ended June 30, 2024, $2.7 million of stock-based compensation expense was recorded related to the 2024 Executive PSU Awards.
2023 PSU Awards
During the second quarter of 2023, the Leadership Development and Compensation Committee granted PSU awards to certain members of management (the “2023 PSU Awards”). The number of shares that can be earned will range from 0% to 200% of the target number of shares, based on the Company’s performance against two independent performance measures relative to pre-established thresholds during a two-year performance period ending on December 31, 2024. The two independent performance measures include the Company’s cumulative (i) bookings during the performance period, as defined in the respective grant agreements with each employee and (ii) PSU Adjusted EBITDA during the performance period. Further, the awards are subject to continuous employment, with the first vesting to occur in the first quarter of 2025 (in which 50% of any awards earned will vest) and the second vesting to occur in the second quarter of 2026 (in which the remaining 50% of any awards earned will vest).
As of June 30, 2024, the number of shares under the 2023 PSU Awards that can be earned at target performance totaled 213,502, with 80% of the target number of shares allocated to the cumulative bookings performance measure and 20% of the target number of shares allocated to the cumulative PSU Adjusted EBITDA performance measure.
The Company recognizes stock-based compensation expense for the 2023 PSU Awards based upon the per-share grant date fair value of $45.70 on an accelerated attribution method over the requisite service period of each separately vesting tranche. At each reporting period, the amount of stock-based compensation is determined based on the probability of achievement against the pre-established performance measures and if necessary, a cumulative catch-up adjustment is recorded to reflect any revised estimates regarding the probability of achievement.
The Company recorded net stock-based compensation expense of $2.3 million and $1.6 million during the three and six months ended June 30, 2024, respectively, and stock-based compensation expense of $1.5 million during each of the three and six months ended June 30, 2023, respectively, related to the 2023 PSU Awards.
2022 PSU Awards
During the second quarter of 2022, the Leadership Development and Compensation Committee granted PSU awards to certain members of management (the “2022 PSU Awards”). On the grant date, the target number of 2022 PSU Awards was 207,284. The number of shares that can be earned will range from 0% to 200% of the target number of shares, based on the Company’s stock price performance and achievement of certain stock price hurdles during the last quarter of the second year through the end of the third year of a three-year performance period (the “2022 PSU Awards Stock Price Hurdles”) and subject to continuous employment through such date.
The Company estimated the grant date fair value of the 2022 PSU Awards using a model based on multiple stock price outcomes developed through the use of a Monte Carlo simulation which incorporates into the valuation the possibility that the 2022 PSU Awards Stock Price Hurdles may not be satisfied. The grant date fair value of the 2022 PSU Awards was estimated to be $43.13 per share, and the Company estimates that it will recognize total stock-based compensation expense of approximately $6.0 million using the accelerated attribution method over the derived service period of each tranche which is equal to five measurement periods commencing with the last quarter of the second year and ending with the last quarter of the third year. If the 2022 PSU Awards Stock Price Hurdles are met sooner than the derived service period, the stock-based compensation expense will be adjusted to reflect the cumulative expense associated with the vested award. Stock-based compensation expense will be recognized over the requisite service period if the members of management continue to provide service to the Company, regardless of whether the 2022 PSU Awards Stock Price Hurdles are achieved.
The Company recorded a net stock-based compensation benefit of $1.2 million and $0.5 million related to the 2022 PSU Awards during the three and six months ended June 30, 2024, respectively, primarily driven by the departure of an executive, and stock-based compensation expense of $1.0 million and $2.0 million during the three and six months ended June 30, 2023, respectively.
Employee Stock Purchase Plan
The Company recorded $5.0 million and $11.5 million of stock-based compensation expense related to the 2020 ESPP during the three and six months ended June 30, 2024, respectively, and $8.3 million and $15.4 million during the three and six months ended June 30, 2023, respectively.
v3.24.2.u1
Accumulated Other Comprehensive Income/(Loss)
 6 Months Ended
Jun. 30, 2024
Equity [Abstract]  
Accumulated Other Comprehensive Income/(Loss)
13. Accumulated Other Comprehensive Income/(Loss)
The following table shows a summary of changes in accumulated other comprehensive income/(loss) by component for the six months ended June 30, 2024 (in thousands):
Foreign Currency TranslationUnrealized Gains/ (Losses) on Available-For-Sale Debt SecuritiesTotal
Balance as of December 31, 2023$1,442 $94 $1,536 
Other comprehensive loss, net of tax, before reclassifications(708)(8,181)(8,889)
Amounts reclassified from accumulated other comprehensive loss, net of tax— 1,124 1,124 
Change in accumulated other comprehensive loss, net of tax(708)(7,057)(7,765)
Balance as of June 30, 2024$734 $(6,963)$(6,229)
v3.24.2.u1
Employee and Director Benefits
 6 Months Ended
Jun. 30, 2024
Retirement Benefits [Abstract]  
Employee and Director Benefits
14. Employee and Director Benefits
Deferred Compensation Plan
The Company established the Roblox Corporation Nonqualified Deferred compensation Plan (as amended, the “NQDC Plan”) for its non-employee directors and a select group of management employees. Eligible participants may voluntarily elect to participate in the NQDC Plan. Unless otherwise determined by the committee that administers the NQDC Plan, eligible employee participants may elect annually to defer up to 90% of their base salary, up to 100% of their cash bonus compensation (if any) and up to 65% of any RSUs or PSUs granted under the Company’s 2020 Plan (if any), and eligible non-employee director participants may elect annually to defer up to 100% of their cash director fees and any RSUs granted under the Company’s 2020 Plan. Obligations of the Company under the NQDC Plan represent at all times unsecured general obligations of the Company to pay deferred compensation in the future in accordance with the terms of the NQDC Plan.
Cash amounts deferred under the plan may only later be settled in cash and are credited or charged with the performance of investment options offered under the NQDC Plan as elected by the participants. The amount credited or charged to each participant’s cash deferrals are based on the performance of a hypothetical portfolio of investments which are tracked by an administrator, with such credits or charges included as a component of operating expenses in the Company’s condensed consolidated statements of operations. The cash obligations due to participants are presented as other long-term liabilities on the Company’s condensed consolidated balance sheet.
The Company generally funds the cash obligations associated with the NQDC Plan by purchasing investments that match the hypothetical investment choices made by the plan participants. The investments (and any uninvested cash) are held in a rabbi trust in order to receive certain tax benefits. The rabbi trust is subject to creditor claims in the event of insolvency, but the assets held in the rabbi trust are not available for general corporate purposes. The investments held in the rabbi trust are presented as short-term investments and any uninvested cash is presented as cash and cash equivalents on the Company’s condensed consolidated balance sheet.
As it relates to any deferred RSUs and PSUs, the Company ensures enough shares of its Class A common stock are reserved to settle all obligations under the NQDC Plan. These obligations are settled on the date(s) elected by the participant. The accounting for the RSUs and PSUs deferred under the NQDC Plan is consistent with the accounting for non-deferred RSUs and PSUs.
v3.24.2.u1
Joint Venture
 6 Months Ended
Jun. 30, 2024
Equity Method Investments and Joint Ventures [Abstract]  
Joint Venture
15. Joint Venture
Background
In February 2019, the Company entered into a joint venture agreement with Songhua River Investment Limited (“Songhua”), an affiliate of Tencent Holdings Ltd., (“Tencent Holdings”), to create Roblox China Holding Corp. (in which Roblox holds a 51% ownership interest as it relates to the voting shares). Songhua contributed $50.0 million in capital in exchange for a 49% ownership interest in Roblox China Holding Corp. The business of the joint venture (either directly or indirectly through the joint venture’s wholly owned subsidiaries) is to engage in the (i) development, localization, and licensing of the Roblox application to Shenzhen Tencent Computer Systems Co., Ltd. for operation and publication as a game in China, and (ii) development, localization, and licensing to creators of a Chinese version of the Roblox Studio and to oversee relations with local Chinese developers.
The joint venture is consolidated into the Company’s condensed consolidated financial statements as the Company maintains a controlling financial interest through voting rights, while the minority member of the joint venture does not have substantive participating rights or veto rights. The Company classifies the 49% ownership interest held by Songhua as a noncontrolling interest on its condensed consolidated balance sheet.
Joint Venture Financing
On May 10, 2023, Roblox China Holding Corp. (the “Borrower”) issued $30.0 million aggregate principal debt which matures on May 10, 2026 (the “2026 Notes”), unless earlier prepaid by the Borrower or converted by the holders into the Borrower’s voting shares. Further, the Borrower, at its sole election, may extend the maturity date by two years.
The 2026 Notes were funded by the Company and Songhua (the “Lenders”) in the amount of $15.3 million and $14.7 million, respectively. The 2026 Notes bear interest at a rate of 6.0% per annum, with accrued interest payable on the final maturity date.
At any point, the Lenders may voluntarily convert the 2026 Notes into voting shares of the Borrower, provided that immediately after such conversion, the Lenders continue to own the same percentage of voting shares in the Borrower as they did immediately prior to the conversion. The conversion ratio will be determined at the time of such conversion (if any), and will be determined by dividing the then fair value of the Borrower’s voting shares (as mutually agreed to by the Lenders and Borrower) into the sum of the unpaid principal and accrued interest.
The portion of the 2026 Notes outstanding to Songhua is reflected in the Company’s condensed consolidated financial statements as long-term debt, net, at its principal amount, while the portion outstanding to the Company – including any related interest expense – is eliminated upon consolidation. Interest expense related to the 2026 Notes was $0.2 million and $0.4 million for the three and six months ended June 30, 2024, respectively, and was $0.1 million for each of the three and six months ended June 30, 2023
v3.24.2.u1
Income Taxes
 6 Months Ended
Jun. 30, 2024
Income Tax Disclosure [Abstract]  
Income Taxes
16. Income Taxes
The Company is subject to federal and state income tax in the United States, as well as foreign tax jurisdictions in which it conducts business. The Company does not provide for U.S. income taxes or foreign withholding taxes on the undistributed earnings of its profitable foreign subsidiaries because it intends to permanently reinvest such earnings in foreign operations.
The provision for/(benefit from) income taxes for the three and six months ended June 30, 2024 and 2023 consisted of immaterial federal, state and foreign income taxes. The Company continues to maintain a full valuation allowance on its net deferred tax assets as it is not likely that the deferred assets will be utilized. The primary difference between the effective tax rate and the federal statutory tax rate relates to the valuation allowance on the Company’s deferred tax assets.
v3.24.2.u1
Basic and Diluted Net Loss Per Common Share
 6 Months Ended
Jun. 30, 2024
Earnings Per Share [Abstract]  
Basic and Diluted Net Loss Per Common Share
17. Basic and Diluted Net Loss Per Common Share
The following table presents the calculation of basic and diluted net loss per share (in thousands, except per share data):
 Three Months EndedSix Months Ended
June 30,
June 30,
 2024202320242023
Basic and diluted net loss per share
Numerator
Consolidated net loss$(207,195)$(284,841)$(479,115)$(554,789)
Less: net loss attributable to noncontrolling interest(1,312)(2,064)(2,628)(3,699)
Net loss attributable to common stockholders$(205,883)$(282,777)$(476,487)$(551,090)
Denominator
Weighted-average common shares used in computing net loss per share attributable to common stockholders, based and diluted642,814 612,689 638,917 609,680 
Net loss per share attributable to common stockholders, basic and diluted$(0.32)$(0.46)$(0.75)$(0.90)
The potential shares of common stock that were excluded from the computation of diluted net loss per share because including them would have been anti-dilutive are as follows (in thousands):
 
As of June 30,
 20242023
Stock options outstanding35,718 46,588 
RSUs outstanding37,702 36,045 
2020 ESPP2,123 2,177 
2023 PSUs Awards based on performance target achievement at period-end (1)
49 — 
Stock warrants outstanding264 264 
RSAs outstanding99 351 
Total75,955 85,425 
(1)Represents the hypothetical number of shares that would have been earned under the Company’s 2023 PSU Awards had the performance period ended on the balance sheet date.
Except for the 2023 PSU Awards, all other PSUs were excluded from the above table because the respective stock price or performance targets had not been met as of the periods presented.
v3.24.2.u1
Pay vs Performance Disclosure - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Pay vs Performance Disclosure        
Net loss attributable to common stockholders $ (205,883) $ (282,777) $ (476,487) $ (551,090)
v3.24.2.u1
Insider Trading Arrangements
 3 Months Ended 6 Months Ended
Jun. 30, 2024
shares
Jun. 30, 2024
shares
Trading Arrangements, by Individual    
Non-Rule 10b5-1 Arrangement Adopted false  
Non-Rule 10b5-1 Arrangement Terminated false  
Mark Reinstra [Member]    
Trading Arrangements, by Individual    
Material Terms of Trading Arrangement  
On May 14, 2024, Mark Reinstra, our General Counsel and Corporate Secretary, adopted a Rule 10b5-1 trading arrangement providing for the sale from time to time of an aggregate of up to 300,000 shares of Class A Common Stock. The trading arrangement expires on May 16, 2025, or earlier if all transactions under the trading arrangement are completed.
Name Mark Reinstra  
Title General Counsel and Corporate Secretary  
Rule 10b5-1 Arrangement Adopted true  
Adoption Date May 14, 2024  
Expiration Date May 16, 2025  
Arrangement Duration 367 days  
Aggregate Available 300,000 300,000
Manuel Bronstein [Member]    
Trading Arrangements, by Individual    
Material Terms of Trading Arrangement  
On May 15, 2024, Manuel Bronstein, our Chief Product Officer, adopted a Rule 10b5-1 trading arrangement providing for the sale from time to time of an aggregate of up to 377,464 shares of Class A Common Stock. The trading arrangement expires on July 16, 2025, or earlier if all transactions under the trading arrangement are completed.
Name Manuel Bronstein  
Title Chief Product Officer  
Rule 10b5-1 Arrangement Adopted true  
Adoption Date May 15, 2024  
Expiration Date July 16, 2025  
Arrangement Duration 427 days  
Aggregate Available 377,464 377,464
Amy Rawlings [Member]    
Trading Arrangements, by Individual    
Material Terms of Trading Arrangement  
On May 28, 2024, Amy Rawlings, our Chief Accounting Officer, terminated her Rule 10b5-1 trading arrangement. On May 29, 2024, Ms. Rawlings adopted a Rule 10b5-1 trading arrangement providing for the sale from time to time of an aggregate of up to 49,138 shares of Class A Common Stock. The trading arrangement expires on June 2, 2025, or earlier if all transactions under the trading arrangement are completed.
Name Amy Rawlings  
Title Chief Accounting Officer  
Rule 10b5-1 Arrangement Adopted true  
Adoption Date May 29, 2024  
Rule 10b5-1 Arrangement Terminated true  
Termination Date May 28, 2024  
Expiration Date June 2, 2025  
Arrangement Duration 369 days  
Aggregate Available 49,138 49,138
Christopher Carvalho [Member]    
Trading Arrangements, by Individual    
Material Terms of Trading Arrangement  
On May 28, 2024, Christopher Carvalho, a member of our Board of Directors, adopted a Rule 10b5-1 trading arrangement providing for the sale from time to time of an aggregate of up to 116,866 shares of Class A Common Stock. The trading arrangement expires on December 1, 2025, or earlier if all transactions under the trading arrangement are completed.
Name Christopher Carvalho  
Title member of our Board of Directors  
Rule 10b5-1 Arrangement Adopted true  
Adoption Date May 28, 2024  
Expiration Date December 1, 2025  
Arrangement Duration 552 days  
Aggregate Available 116,866 116,866
v3.24.2.u1
Basis of Presentation and Summary of Significant Accounting Policies (Policies)
 6 Months Ended
Jun. 30, 2024
Accounting Policies [Abstract]  
Fiscal Year
Fiscal Year
The Company’s fiscal year ends on December 31. For example, references to fiscal year 2024 and 2023 refer to the fiscal year ending December 31, 2024 and December 31, 2023, respectively.
Basis of Presentation
Basis of Presentation
The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“U.S. GAAP”), and applicable rules and regulations of the Securities and Exchange Commission (“SEC”), regarding interim financial reporting. Accordingly, they do not include all disclosures normally required in annual consolidated financial statements prepared in accordance with U.S. GAAP. Therefore, these unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023, which was filed with the SEC on February 21, 2024.
In the Company’s opinion, the information contained herein reflects all adjustments necessary for a fair presentation of the Company’s results of operations, financial position, cash flows, and stockholders’ equity. All such adjustments are of a normal, recurring nature. The results of operations for the three and six months ended June 30, 2024 shown in this report are not necessarily indicative of the results to be expected for the full year ending December 31, 2024 or any other interim period.
For a discussion of the Company’s significant accounting policies, refer to the header “Foreign Currency Transactions” below, as well as the significant accounting policies as described in the Company’s consolidated financial statements and related notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023, which was filed with the SEC on February 21, 2024.
Principles of Consolidation
Principles of Consolidation
The condensed consolidated financial statements include the accounts of the Company and subsidiaries over which the Company has control. All intercompany transactions and balances have been eliminated. The condensed consolidated financial statements include 100% of the accounts of wholly owned and majority owned subsidiaries, and the ownership interest of minority investors is recorded as noncontrolling interest.
Use of Estimates
Use of Estimates
The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. Significant estimates and assumptions reflected in the condensed consolidated financial statements include, but are not limited to, the estimated period of time the virtual items are available to the user, which is estimated as the average lifetime of a paying user, and the estimated amount of consumable and durable virtual items purchased for which the Company lacks specific information that is used for revenue recognition, the estimated amount of expected breakage related to prepaid card sales, useful lives of property and equipment and intangible assets, fair value of assets and liabilities acquired through acquisitions, accrued liabilities (including accrued developer exchange fees), contingent liabilities, valuation of deferred tax assets and liabilities, stock-based compensation expense, the discount rate used in measuring our operating lease liabilities, the carrying value of operating lease right-of-use assets, evaluation of recoverability of goodwill, intangible assets and long-lived assets, and as necessary, estimates of fair value to measure impairment losses. Management believes that the estimates, and judgments upon which they rely, are reasonable based upon information available to them at the time that these estimates and judgments are made. Actual results could differ from those estimates and any such differences may be material to the condensed consolidated financial statements. To the extent that there are material differences between these estimates and actual results, the Company’s condensed consolidated financial statements will be affected.
Foreign Currency Transactions
Foreign Currency Transactions
Beginning January 1, 2024, the functional currency of certain non-U.S. dollar functional currency international subsidiaries was re-assessed from the U.S. dollar to the local currency that the international subsidiary operates in. Prior to January 1, 2024, the functional currency of the Company’s international subsidiaries was primarily the U.S. dollar. The effects of the changes in functional currency were not significant to our condensed consolidated financial statements.
The Company translates the financial statements of non-U.S. dollar functional currency subsidiaries to U.S. dollars using the period-end exchange rate for assets and liabilities and the average exchange rate for the period for revenues and expenses. The effects of foreign currency translation are included in stockholders’ equity and periodic movements are summarized as a line item in the condensed consolidated statements of comprehensive loss.
The Company reflects foreign exchange transaction gains and losses resulting from the conversion of the transaction currency to the functional currency, which includes gains and losses from the remeasurement of assets and liabilities, as a component of other income/(expense), net.
Recent Accounting Pronouncements
Recent Accounting Pronouncements
Recent Accounting Pronouncements Not Yet Adopted
In November 2023, the FASB issued ASU 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures,” which requires public entities to disclose expanded information about their reportable segment(s)’ significant expenses and other segment items on an interim and annual basis. The ASU does not change how a public entity identifies or aggregates its operating segments. The ASU is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The ASU is required to be applied retrospectively to all prior periods presented in the financial statements once adopted. The Company is evaluating the disclosure requirements related to the new standard.
In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures,” which requires public entities to disclose specific tax rate reconciliation categories, as well as income taxes paid disaggregated by jurisdiction, amongst other disclosure enhancements. The ASU is effective for financial statements issued for annual periods beginning after December 15, 2024, with early adoption permitted. The ASU can be adopted on a prospective or retrospective basis. The Company is evaluating the disclosure requirements related to the new standard.
v3.24.2.u1
Revenue from Contracts with Customers (Tables)
 6 Months Ended
Jun. 30, 2024
Revenue from Contract with Customer [Abstract]  
Schedule of Revenue Disaggregated by Geography
The following table summarizes revenue by region based on the billing country of users (in thousands, except percentages):
 
Three Months Ended June 30,
 20242023
 AmountPercentage of RevenueAmountPercentage of Revenue
United States and Canada (1)
$565,867 63 %$439,523 65 %
Europe163,407 18 123,532 18 
Asia-Pacific, including Australia and New Zealand95,055 11 69,102 10 
Rest of world69,214 8 48,609 7 
Total$893,543 100 %$680,766 100 %
 
Six Months Ended June 30,
 20242023
 AmountPercentage of RevenueAmountPercentage of Revenue
United States and Canada (1)
$1,075,431 63 %$865,286 65 %
Europe308,971 18 242,062 18 
Asia-Pacific, including Australia and New Zealand180,329 11 134,230 10 
Rest of world130,112 8 94,532 7 
Total$1,694,843 100 %$1,336,110 100 %
The Company’s revenues in the United States were 59% of consolidated revenue for each of the three and six months ended June 30, 2024 and were 60% and 61% for the three and six months ended June 30, 2023, respectively.
v3.24.2.u1
Cash Equivalents and Investments (Tables)
 6 Months Ended
Jun. 30, 2024
Investments, Debt and Equity Securities [Abstract]  
Schedule of Cash Equivalents and Short and Long-Term Investments
The following is a summary of the Company’s cash equivalents and short-term and long-term investments (in thousands):
As of June 30, 2024
Amortized CostGross Unrealized GainsGross Unrealized LossesFair ValueCash EquivalentsShort-Term InvestmentsLong-Term Investments
Debt Securities
Level 1
Money market funds$907,229 $— $— $907,229 $907,229 $— $— 
U.S. Treasury securities1,711,715 235 (5,860)1,706,090 — 1,158,402 547,688 
Subtotal2,618,944 235 (5,860)2,613,319 907,229 1,158,402 547,688 
Level 2
U.S. agency securities323,932 10 (299)323,643 — 47,453 276,190 
Commercial paper192,136 — — 192,136 9,978 182,158 — 
Corporate debt securities422,521 660 (1,709)421,472 — 56,215 365,257 
Subtotal938,589 670 (2,008)937,251 9,978 285,826 641,447 
Total Debt Securities$3,557,533 $905 $(7,868)$3,550,570 $917,207 $1,444,228 $1,189,135 
Equity Securities
Level 1
Mutual funds (1)
$1,461 $— $1,461 $— 
Total Equity Securities$1,461 $— $1,461 $— 
Total Investments$3,557,533 $905 $(7,868)$3,552,031 $917,207 $1,445,689 $1,189,135 
As of December 31, 2023
Amortized CostGross Unrealized GainsGross Unrealized LossesFair ValueCash EquivalentsShort-Term InvestmentsLong-Term Investments
Debt Securities
Level 1
Money market funds$614,888 $— $— $614,888 $614,888 $— $— 
U.S. Treasury securities1,692,700 2,007 (2,547)1,692,160 — 1,155,218 536,942 
Subtotal2,307,588 2,007 (2,547)2,307,048 614,888 1,155,218 536,942 
Level 2
U.S. agency securities286,007 27 (197)285,837 — 137,151 148,686 
Commercial paper184,465 — — 184,465 14,827 169,638 — 
Corporate debt securities409,037 2,066 (1,262)409,841 — 52,070 357,771 
Subtotal879,509 2,093 (1,459)880,143 14,827 358,859 506,457 
Total Debt Securities$3,187,097 $4,100 $(4,006)$3,187,191 $629,715 $1,514,077 $1,043,399 
Equity Securities
Level 1
Mutual funds (1)
$731 $— $731 $— 
Total Equity Securities$731 $— $731 $— 
Total Investments$3,187,097 $4,100 $(4,006)$3,187,922 $629,715 $1,514,808 $1,043,399 
(1)The equity securities relate to the Company’s nonqualified deferred compensation plan and are held in a rabbi trust. Refer to Note 14, “Employee and Director Benefits”, to the notes to the condensed consolidated financial statements for more information.
Schedule of Debt Securities, Available-for-Sale, Unrealized Loss Position, Fair Value
The following table presents fair values and gross unrealized losses, aggregated by investment category and the length of time that individual securities have been in a continuous loss position (in thousands):
As of June 30, 2024
Less Than 12 Months12 Months or GreaterTotal
Fair ValueUnrealized LossesFair ValueUnrealized LossesFair ValueUnrealized Losses
U.S. Treasury securities$1,046,150 $(1,445)$350,312 $(4,415)$1,396,462 $(5,860)
U.S. agency securities276,175 (258)32,458 (41)308,633 (299)
Corporate debt securities194,913 (903)95,549 (806)290,462 (1,709)
Total$1,517,238 $(2,606)$478,319 $(5,262)$1,995,557 $(7,868)
As of December 31, 2023
Less Than 12 Months12 Months or GreaterTotal
Fair ValueUnrealized LossesFair ValueUnrealized LossesFair ValueUnrealized Losses
U.S. Treasury securities$486,424 $(2,547)$— $— $486,424 $(2,547)
U.S. agency securities182,475 (197)— — 182,475 (197)
Corporate debt securities248,287 (1,262)— — 248,287 (1,262)
Total$917,186 $(4,006)$— $— $917,186 $(4,006)
v3.24.2.u1
Acquisitions (Tables)
 6 Months Ended
Jun. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]  
Schedule of Fair Value of Assets Acquired and Liabilities Assumed
The following table summarizes the Company’s preliminary allocation of the purchase consideration based on the fair value of assets acquired and liabilities assumed at the Speechly Acquisition Date (in thousands):
 September 18, 2023
Cash and cash equivalents$970 
Other current assets acquired111 
Intangible assets, net
Developed technology, useful life of five years
2,800 
Goodwill7,536 
Other current liabilities assumed$(1,117)
Other long-term liabilities assumed(182)
Total purchase price$10,118 
v3.24.2.u1
Goodwill and Intangible Assets (Tables)
 6 Months Ended
Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill
The following table represents the changes to goodwill during the six months ended June 30, 2024 (in thousands):
 Carrying Amount
Balance as of December 31, 2023
$142,129 
Foreign currency translation adjustments(229)
Balance as of June 30, 2024
$141,900 
Schedule of Finite-Lived Intangible Assets
The following tables present details of the Company’s finite-lived intangible assets as of June 30, 2024 and December 31, 2023 (in thousands):
As of June 30, 2024
Gross Carrying AmountAccumulated Amortization ExpenseNet Carrying
Amount
Developed technology$75,370 $(46,975)$28,395 
Patents14,200 (1,400)12,800 
Assembled workforce10,000 (9,042)958 
Trade name500 (283)217 
Total intangible assets$100,070 $(57,700)$42,370 
As of December 31, 2023
Gross Carrying AmountAccumulated Amortization ExpenseNet Carrying
Amount
Developed technology$75,455 $(39,411)$36,044 
Patents14,200 (650)13,550 
Assembled workforce10,000 (7,374)2,626 
Trade name500 (233)267 
Total intangible assets$100,155 $(47,668)$52,487 
Schedule of Expected Future Amortization Expenses Related to the Finite-lived Intangible Assets
Expected future amortization expenses related to the Company’s finite-lived intangible assets as of June 30, 2024 are as follows (in thousands):
Year ending December 31:
Remainder of 2024$8,901 
202515,710 
20266,676 
20273,112 
20281,922 
Thereafter6,049 
Total remaining amortization$42,370 
v3.24.2.u1
Other Balance Sheet Components (Tables)
 6 Months Ended
Jun. 30, 2024
Other Balance Sheet Components [Abstract]  
Schedule of Prepaid Expenses and Other Current Assets
Prepaid expenses and other current assets consisted of the following (in thousands):
 As of
 June 30,
2024		December 31,
2023
Prepaid expenses$60,268 $48,555 
Accrued interest receivable18,788 14,697 
Other current assets8,044 11,297 
Total prepaid expenses and other current assets$87,100 $74,549 
Schedule of Property and Equipment, Net
Property and equipment, net, consisted of the following (in thousands):
 As of
 June 30,
2024		December 31,
2023
Servers and related equipment and software$919,489 $914,989 
Computer hardware and software licenses46,633 43,732 
Furniture and fixtures1,434 520 
Leasehold improvements102,513 101,785 
Construction in progress138,586 77,043 
Total property and equipment1,208,655 1,138,069 
Less accumulated depreciation and amortization expense(533,580)(442,709)
Property and equipment—net$675,075 $695,360 
Schedule of Accrued Expenses and Other Current Liabilities
Accrued expenses and other current liabilities consisted of the following (in thousands):
 As of
 June 30,
2024		December 31,
2023
Accrued operating expenses$58,229 $51,921 
Short term operating lease liabilities136,958 111,293 
Accrued interest on the 2030 Notes6,458 6,458 
Taxes payable47,425 59,632 
Accrued compensation and other employee related liabilities16,176 32,125 
Other current liabilities4,593 9,692 
Total accrued expenses and other current liabilities$269,839 $271,121 
v3.24.2.u1
Debt (Tables)
 6 Months Ended
Jun. 30, 2024
Debt Disclosure [Abstract]  
Schedule of Debt Instrument Redemption
YearPercentage
2024
101.938 %
2025
100.969 %
2026 and thereafter
100.000 %
Schedule of Long-term Debt
The net carrying amount of the 2030 Notes, which is presented as a component of long-term debt in the Company’s condensed consolidated financial statements, was as follows (in thousands):
As of
June 30,
2024		December 31,
2023
2030 Notes
Principal
$1,000,000 $1,000,000 
Unamortized issuance costs
(9,021)(9,700)
Net carrying amount
$990,979 $990,300 
Schedule of Interest Expense
Interest expense related to the 2030 Notes was as follows (in thousands):
Three Months Ended June 30,
Six Months Ended June 30,
2024202320242023
Contractual interest expense
$9,688 $9,688 $19,376 $19,376 
Amortization of debt issuance costs
341 327 679 651 
Total interest expense
$10,029 $10,015 $20,055 $20,027 
v3.24.2.u1
Stockholders' Equity (Tables)
 6 Months Ended
Jun. 30, 2024
Stockholders' Equity Note [Abstract]  
Schedule of Common Stock Shares Available for Future Issuance
The Company had reserved shares of common stock for future issuance as follows (in thousands):
 As of
 June 30,
2024		December 31,
2023
Stock options outstanding35,718 40,159 
Restricted Stock Units (“RSUs”) outstanding37,702 39,846 
Performance Stock Units (“PSUs”) (1)
2,304 905 
CEO Long-Term Performance Award (1)(2)
— 11,500 
2020 Equity Incentive Plan100,056 66,114 
2020 Employee Stock Purchase Plan21,301 16,075 
Stock warrants outstanding264 264 
Unregistered stock awards (“RSAs”) outstanding99 149 
Total197,444 175,012 
(1)Represents the shares of common stock reserved for future issuance at the maximum achievement levels.
(2)On March 1, 2024, the Leadership Development and Compensation Committee (i) approved the cancellation of the CEO Long-Term Performance Award, which was previously granted to the CEO under the 2017 Amended and Restated Equity Incentive Plan and (ii) granted Mr. Baszucki a new PSU award and RSU award. The PSUs and RSUs granted to Mr. Baszucki on March 1, 2024 are included in those respective rows above as of June 30, 2024. Refer to Note 12, “Stock-Based Compensation Expense”, to the notes to the condensed consolidated financial statements for further discussion.
v3.24.2.u1
Stock-based Compensation Expense (Tables)
 6 Months Ended
Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock-based Compensation Expense
Stock-based compensation expense included in the condensed consolidated statements of operations was as follows (in thousands):
 Three Months Ended June 30,Six Months Ended June 30,
 2024202320242023
Infrastructure and trust & safety$27,973 $22,695 $55,248 $41,227 
Research and development180,556 147,768 353,803 277,025 
General and administrative34,796 34,823 66,441 65,473 
Sales and marketing8,566 7,076 16,901 13,541 
Total stock-based compensation expense$251,891 $212,362 $492,393 $397,266 
Schedule of Summarizes the Company's Stock Option Activity
The following table summarizes the Company’s stock option activity (in thousands, except per option data and remaining contractual term):
 Options Outstanding
 Number of
Shares Subject
to Options		Weighted-Average
Exercise
Price (per Option)		Weighted-Average Remaining
Contractual
Term (Years)		Aggregate
Intrinsic
Value
Balances as of December 31, 202340,159 $2.98 5.16$1,716,171 
Granted— — 
Cancelled, forfeited, and expired(155)$5.01 
Exercised(4,286)$2.88 
Balances as of June 30, 202435,718 $2.99 4.69$1,222,343 
Exercisable as of June 30, 2024
35,047 $2.95 4.66$1,200,830 
Vested and expected to vest at June 30, 2024
35,718 $2.99 4.69$1,222,343 
Schedule of Company's Restricted Stock Units and Unregistered Restricted Stock Awards Activity
The following table summarizes the Company’s RSU and RSA activity (in thousands, except per share data):
 RSUsRSAs
 Number of
Shares		Weighted-Average
Grant Date
Fair Value (per Share)		Number of
Shares		Weighted-Average
Grant Date
Fair Value (per Share)
Unvested as of December 31, 202339,846 $42.25 149 $46.00 
Granted10,606 $39.05 — — 
Vested and released(10,019)$43.14 (50)$46.00 
Cancelled(2,731)$41.83 — — 
Unvested as of June 30, 202437,702 $41.14 99 $46.00 
v3.24.2.u1
Accumulated Other Comprehensive Income/(Loss) (Tables)
 6 Months Ended
Jun. 30, 2024
Equity [Abstract]  
Schedule of Accumulated Other Comprehensive Income (Loss)
The following table shows a summary of changes in accumulated other comprehensive income/(loss) by component for the six months ended June 30, 2024 (in thousands):
Foreign Currency TranslationUnrealized Gains/ (Losses) on Available-For-Sale Debt SecuritiesTotal
Balance as of December 31, 2023$1,442 $94 $1,536 
Other comprehensive loss, net of tax, before reclassifications(708)(8,181)(8,889)
Amounts reclassified from accumulated other comprehensive loss, net of tax— 1,124 1,124 
Change in accumulated other comprehensive loss, net of tax(708)(7,057)(7,765)
Balance as of June 30, 2024$734 $(6,963)$(6,229)
v3.24.2.u1
Basic and Diluted Net Loss Per Common Share (Tables)
 6 Months Ended
Jun. 30, 2024
Earnings Per Share [Abstract]  
Schedule of Calculation of Basic and Diluted Net Loss Per Share
The following table presents the calculation of basic and diluted net loss per share (in thousands, except per share data):
 Three Months EndedSix Months Ended
June 30,
June 30,
 2024202320242023
Basic and diluted net loss per share
Numerator
Consolidated net loss$(207,195)$(284,841)$(479,115)$(554,789)
Less: net loss attributable to noncontrolling interest(1,312)(2,064)(2,628)(3,699)
Net loss attributable to common stockholders$(205,883)$(282,777)$(476,487)$(551,090)
Denominator
Weighted-average common shares used in computing net loss per share attributable to common stockholders, based and diluted642,814 612,689 638,917 609,680 
Net loss per share attributable to common stockholders, basic and diluted$(0.32)$(0.46)$(0.75)$(0.90)
Schedule of Antidilutive Securities
The potential shares of common stock that were excluded from the computation of diluted net loss per share because including them would have been anti-dilutive are as follows (in thousands):
 
As of June 30,
 20242023
Stock options outstanding35,718 46,588 
RSUs outstanding37,702 36,045 
2020 ESPP2,123 2,177 
2023 PSUs Awards based on performance target achievement at period-end (1)
49 — 
Stock warrants outstanding264 264 
RSAs outstanding99 351 
Total75,955 85,425 
(1)Represents the hypothetical number of shares that would have been earned under the Company’s 2023 PSU Awards had the performance period ended on the balance sheet date.
v3.24.2.u1
Basis of Presentation and Summary of Significant Accounting Policies (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2024
Mar. 31, 2024
Jun. 30, 2023
Jun. 30, 2023
Dec. 31, 2024
Disaggregation of Revenue [Line Items]          
Estimated average life time of a paying user 27 months 28 months 28 months 28 months  
Increase in revenue $ 58.9        
Increase in cost of revenue $ 12.4        
Forecast          
Disaggregation of Revenue [Line Items]          
Increase in revenue         $ 98.0
Increase in cost of revenue         $ 20.4
v3.24.2.u1
Revenue from Contracts with Customers - Schedule of Revenue Disaggregated By Geography (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Disaggregation of Revenue [Line Items]        
Revenue $ 893,543 $ 680,766 $ 1,694,843 $ 1,336,110
Revenue Benchmark | Geographic Concentration Risk        
Disaggregation of Revenue [Line Items]        
Revenue $ 893,543 $ 680,766 $ 1,694,843 $ 1,336,110
Percentage of Revenue 100.00% 100.00% 100.00% 100.00%
Revenue Benchmark | United States and Canada | Geographic Concentration Risk        
Disaggregation of Revenue [Line Items]        
Revenue $ 565,867 $ 439,523 $ 1,075,431 $ 865,286
Percentage of Revenue 63.00% 65.00% 63.00% 65.00%
Revenue Benchmark | Europe | Geographic Concentration Risk        
Disaggregation of Revenue [Line Items]        
Revenue $ 163,407 $ 123,532 $ 308,971 $ 242,062
Percentage of Revenue 18.00% 18.00% 18.00% 18.00%
Revenue Benchmark | Asia-Pacific, including Australia and New Zealand | Geographic Concentration Risk        
Disaggregation of Revenue [Line Items]        
Revenue $ 95,055 $ 69,102 $ 180,329 $ 134,230
Percentage of Revenue 11.00% 10.00% 11.00% 10.00%
Revenue Benchmark | Rest of world | Geographic Concentration Risk        
Disaggregation of Revenue [Line Items]        
Revenue $ 69,214 $ 48,609 $ 130,112 $ 94,532
Percentage of Revenue 8.00% 7.00% 8.00% 7.00%
Revenue Benchmark | U.S | Geographic Concentration Risk        
Disaggregation of Revenue [Line Items]        
Percentage of Revenue 59.00% 60.00% 59.00% 61.00%
v3.24.2.u1
Revenue from Contracts with Customers - Additional Information (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Disaggregation of Revenue [Line Items]        
Deferred revenue, revenue recognized     $ 1,388.6  
Revenue Benchmark | Durable Virtual Items | Product Concentration Risk        
Disaggregation of Revenue [Line Items]        
Percentage of revenue 92.00% 92.00% 92.00% 91.00%
Revenue Benchmark | Consumable Virtual Items | Product Concentration Risk        
Disaggregation of Revenue [Line Items]        
Percentage of revenue 8.00% 8.00% 8.00% 9.00%
v3.24.2.u1
Leases - (Details)
$ in Millions
 3 Months Ended
Mar. 31, 2024
USD ($)
Feb. 07, 2024
USD ($)
ft²
Sub-Lessee Agreement    
Lessee, Lease, Description [Line Items]    
Area of real estate property | ft²   133,137
Lessor term of contract   4 years
Lessee, operating lease payments   $ 38.9
Sub Lessor Agreement    
Lessee, Lease, Description [Line Items]    
Area of real estate property | ft²   61,773
Lessor term of contract   3 years
Operating lease, payments to be received   $ 13.0
Data Center Agreements    
Lessee, Lease, Description [Line Items]    
Lessor term of contract 7 years  
Operating lease, payments $ 95.4  
v3.24.2.u1
Cash Equivalents and Investments - Schedule of Cash Equivalents and Short and Long-Term Investments (Details) - USD ($)
$ in Thousands
 6 Months Ended 12 Months Ended
Jun. 30, 2024
Dec. 31, 2023
Debt Securities, Available-for-Sale [Line Items]    
Amortized Cost $ 3,557,533 $ 3,187,097
Gross Unrealized Gains 905 4,100
Gross Unrealized Losses (7,868) (4,006)
Fair Value 3,552,031 3,187,922
Cash Equivalents 917,207 629,715
Short-Term Investments 1,445,689 1,514,808
Long-Term Investments 1,189,135 1,043,399
Debt Securities    
Debt Securities, Available-for-Sale [Line Items]    
Amortized Cost 3,557,533 3,187,097
Gross Unrealized Gains 905 4,100
Gross Unrealized Losses (7,868) (4,006)
Fair Value 3,550,570 3,187,191
Cash Equivalents 917,207 629,715
Short-Term Investments 1,444,228 1,514,077
Long-Term Investments 1,189,135 1,043,399
Level 1 | Debt Securities    
Debt Securities, Available-for-Sale [Line Items]    
Amortized Cost 2,618,944 2,307,588
Gross Unrealized Gains 235 2,007
Gross Unrealized Losses (5,860) (2,547)
Fair Value 2,613,319 2,307,048
Cash Equivalents 907,229 614,888
Short-Term Investments 1,158,402 1,155,218
Long-Term Investments 547,688 536,942
Level 1 | Equity Securities    
Debt Securities, Available-for-Sale [Line Items]    
Amortized Cost
Gross Unrealized Gains
Gross Unrealized Losses
Fair Value 1,461 731
Cash Equivalents 0 0
Short-Term Investments 1,461 731
Long-Term Investments 0 0
Level 2 | Debt Securities    
Debt Securities, Available-for-Sale [Line Items]    
Amortized Cost 938,589 879,509
Gross Unrealized Gains 670 2,093
Gross Unrealized Losses (2,008) (1,459)
Fair Value 937,251 880,143
Cash Equivalents 9,978 14,827
Short-Term Investments 285,826 358,859
Long-Term Investments 641,447 506,457
Money market funds | Level 1 | Debt Securities    
Debt Securities, Available-for-Sale [Line Items]    
Amortized Cost 907,229 614,888
Gross Unrealized Gains 0 0
Gross Unrealized Losses 0 0
Fair Value 907,229 614,888
Cash Equivalents 907,229 614,888
Short-Term Investments 0 0
Long-Term Investments 0 0
U.S. Treasury securities | Level 1 | Debt Securities    
Debt Securities, Available-for-Sale [Line Items]    
Amortized Cost 1,711,715 1,692,700
Gross Unrealized Gains 235 2,007
Gross Unrealized Losses (5,860) (2,547)
Fair Value 1,706,090 1,692,160
Cash Equivalents 0 0
Short-Term Investments 1,158,402 1,155,218
Long-Term Investments 547,688 536,942
U.S. agency securities | Level 2 | Debt Securities    
Debt Securities, Available-for-Sale [Line Items]    
Amortized Cost 323,932 286,007
Gross Unrealized Gains 10 27
Gross Unrealized Losses (299) (197)
Fair Value 323,643 285,837
Cash Equivalents 0 0
Short-Term Investments 47,453 137,151
Long-Term Investments 276,190 148,686
Commercial paper | Level 2 | Debt Securities    
Debt Securities, Available-for-Sale [Line Items]    
Amortized Cost 192,136 184,465
Gross Unrealized Gains 0 0
Gross Unrealized Losses 0 0
Fair Value 192,136 184,465
Cash Equivalents 9,978 14,827
Short-Term Investments 182,158 169,638
Long-Term Investments 0 0
Corporate debt securities | Level 2 | Debt Securities    
Debt Securities, Available-for-Sale [Line Items]    
Amortized Cost 422,521 409,037
Gross Unrealized Gains 660 2,066
Gross Unrealized Losses (1,709) (1,262)
Fair Value 421,472 409,841
Cash Equivalents 0 0
Short-Term Investments 56,215 52,070
Long-Term Investments 365,257 357,771
Mutual funds | Level 1 | Equity Securities    
Debt Securities, Available-for-Sale [Line Items]    
Amortized Cost
Gross Unrealized Gains
Gross Unrealized Losses
Fair Value 1,461 731
Cash Equivalents 0 0
Short-Term Investments 1,461 731
Long-Term Investments $ 0 $ 0
v3.24.2.u1
Cash Equivalents and Investments - Additional Information (Details)
 6 Months Ended
Jun. 30, 2024
Debt Securities, Available-for-Sale [Line Items]  
Short-term debt investments contractual maturities period 1 year
Minimum  
Debt Securities, Available-for-Sale [Line Items]  
Long-term debt investments contractual maturities period 1 year
Maximum  
Debt Securities, Available-for-Sale [Line Items]  
Long-term debt investments contractual maturities period 5 years
v3.24.2.u1
Cash Equivalents and Investments - Schedule of Debt Securities, Available-for-Sale, Unrealized Loss Position, Fair Value (Details) - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Debt Securities, Available-for-Sale, Unrealized Loss Position [Line Items]    
Less than 12 Months, Fair Value $ 1,517,238 $ 917,186
Less than 12 Months, Unrealized Losses (2,606) (4,006)
12 Months or Greater, Fair Value 478,319 0
12 Months or Greater, Unrealized Losses (5,262) 0
Total, Fair Value 1,995,557 917,186
Total, Unrealized Losses (7,868) (4,006)
U.S. Treasury securities    
Debt Securities, Available-for-Sale, Unrealized Loss Position [Line Items]    
Less than 12 Months, Fair Value 1,046,150 486,424
Less than 12 Months, Unrealized Losses (1,445) (2,547)
12 Months or Greater, Fair Value 350,312 0
12 Months or Greater, Unrealized Losses (4,415) 0
Total, Fair Value 1,396,462 486,424
Total, Unrealized Losses (5,860) (2,547)
U.S. agency securities    
Debt Securities, Available-for-Sale, Unrealized Loss Position [Line Items]    
Less than 12 Months, Fair Value 276,175 182,475
Less than 12 Months, Unrealized Losses (258) (197)
12 Months or Greater, Fair Value 32,458 0
12 Months or Greater, Unrealized Losses (41) 0
Total, Fair Value 308,633 182,475
Total, Unrealized Losses (299) (197)
Corporate debt securities    
Debt Securities, Available-for-Sale, Unrealized Loss Position [Line Items]    
Less than 12 Months, Fair Value 194,913 248,287
Less than 12 Months, Unrealized Losses (903) (1,262)
12 Months or Greater, Fair Value 95,549 0
12 Months or Greater, Unrealized Losses (806) 0
Total, Fair Value 290,462 248,287
Total, Unrealized Losses $ (1,709) $ (1,262)
v3.24.2.u1
Acquisitions - Additional Information (Detail) - Speechly, Inc.
$ in Thousands
Sep. 18, 2023
USD ($)
Business Combination and Asset Acquisition [Line Items]  
Purchase price $ 10,100
Payment of cash to acquire business 4,800
Cash holdback $ 5,300
v3.24.2.u1
Acquisitions - Schedule of Fair Value of Assets Acquired and Liabilities Assumed (Detail) - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Sep. 18, 2023
Business Acquisition [Line Items]      
Goodwill $ 141,900 $ 142,129  
Speechly, Inc.      
Business Acquisition [Line Items]      
Cash and cash equivalents     $ 970
Other current assets acquired     111
Developed technology, useful life of five years     2,800
Goodwill     7,536
Other current liabilities assumed     (1,117)
Other long-term liabilities assumed     (182)
Total purchase price     $ 10,118
Estimated useful life     5 years
v3.24.2.u1
Goodwill and Intangible Assets - Schedule of Goodwill (Details)
$ in Thousands
 6 Months Ended
Jun. 30, 2024
USD ($)
Goodwill [Roll Forward]  
Beginning balance $ 142,129
Foreign currency translation adjustments (229)
Ending balance $ 141,900
v3.24.2.u1
Goodwill and Intangible Assets - Schedule of Finite-Lived Intangible Assets (Details) - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Goodwill and Intangible Assets [Line Items]    
Gross Carrying Amount $ 100,070 $ 100,155
Accumulated Amortization Expense (57,700) (47,668)
Total remaining amortization 42,370 52,487
Developed technology    
Goodwill and Intangible Assets [Line Items]    
Gross Carrying Amount 75,370 75,455
Accumulated Amortization Expense (46,975) (39,411)
Total remaining amortization 28,395 36,044
Patents    
Goodwill and Intangible Assets [Line Items]    
Gross Carrying Amount 14,200 14,200
Accumulated Amortization Expense (1,400) (650)
Total remaining amortization 12,800 13,550
Assembled workforce    
Goodwill and Intangible Assets [Line Items]    
Gross Carrying Amount 10,000 10,000
Accumulated Amortization Expense (9,042) (7,374)
Total remaining amortization 958 2,626
Trade name    
Goodwill and Intangible Assets [Line Items]    
Gross Carrying Amount 500 500
Accumulated Amortization Expense (283) (233)
Total remaining amortization $ 217 $ 267
v3.24.2.u1
Goodwill and Intangible Assets - Additional Information (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]          
Indefinite-lived intangible assets $ 0.7   $ 0.7   $ 0.6
Amortization expense  $ 5.0 $ 4.5 $ 10.1 $ 9.0  
v3.24.2.u1
Goodwill and Intangible Assets - Schedule of Expected Future Amortization Expenses Related to the Intangible Assets (Details) - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]    
Remainder of 2024 $ 8,901  
2025 15,710  
2026 6,676  
2027 3,112  
2028 1,922  
Thereafter 6,049  
Total remaining amortization $ 42,370 $ 52,487
v3.24.2.u1
Other Balance Sheet Components - Schedule of Prepaid Expenses and Other Current Assets (Detail) - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Other Balance Sheet Components [Abstract]    
Prepaid expenses $ 60,268 $ 48,555
Accrued interest receivable 18,788 14,697
Other current assets 8,044 11,297
Total prepaid expenses and other current assets $ 87,100 $ 74,549
v3.24.2.u1
Other Balance Sheet Components - Schedule of Property and Equipment, Net (Detail) - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Property, Plant and Equipment [Line Items]    
Property, plant and equipment, gross $ 1,208,655 $ 1,138,069
Less accumulated depreciation and amortization expense (533,580) (442,709)
Property and equipment—net 675,075 695,360
Servers and related equipment and software    
Property, Plant and Equipment [Line Items]    
Property, plant and equipment, gross 919,489 914,989
Computer hardware and software licenses    
Property, Plant and Equipment [Line Items]    
Property, plant and equipment, gross 46,633 43,732
Furniture and fixtures    
Property, Plant and Equipment [Line Items]    
Property, plant and equipment, gross 1,434 520
Leasehold improvements    
Property, Plant and Equipment [Line Items]    
Property, plant and equipment, gross 102,513 101,785
Construction in progress    
Property, Plant and Equipment [Line Items]    
Property, plant and equipment, gross $ 138,586 $ 77,043
v3.24.2.u1
Other Balance Sheet Components - Additional Information (Detail) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Other Balance Sheet Components [Abstract]        
Depreciation and amortization expense of property and equipment $ 47.8 $ 48.1 $ 96.5 $ 91.0
v3.24.2.u1
Other Balance Sheet Components - Schedule of Accrued Expenses and Other Current Liabilities (Detail) - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Other Balance Sheet Components [Abstract]    
Accrued operating expenses $ 58,229 $ 51,921
Short term operating lease liabilities 136,958 111,293
Accrued interest on the 2030 Notes 6,458 6,458
Taxes payable 47,425 59,632
Accrued compensation and other employee related liabilities 16,176 32,125
Other current liabilities 4,593 9,692
Total accrued expenses and other current liabilities $ 269,839 $ 271,121
v3.24.2.u1
Debt - Additional Information (Details) - 2030 Notes - USD ($)
$ in Millions
Oct. 29, 2021
Jun. 30, 2024
Dec. 31, 2023
Level 2      
Short-term Debt [Line Items]      
Debt instrument, fair value disclosure   $ 889.0 $ 891.8
Unsecured Debt      
Short-term Debt [Line Items]      
Debt instrument, aggregated principal amount $ 1,000.0    
Interest rate 3.875%    
Proceeds from debt, net of issuance costs $ 987.5    
Unamortized issuance costs $ 12.5    
Effective interest rate   4.05%  
Unsecured Debt | Redemption Period, at Any Time Prior to November 1, 2024      
Short-term Debt [Line Items]      
Percentage of principal amount of debt redeemed (up to) 40.00%    
Debt instrument, redemption price, percentage 103.875%    
Debt instrument, redemption terms, threshold percentage of principal amount outstanding 50.00%    
Debt instrument, redemption terms, period 180 days    
Unsecured Debt | Redemption Period, at Any Time Prior to November 1, 2024      
Short-term Debt [Line Items]      
Debt instrument, redemption price, percentage 100.00%    
Unsecured Debt | Redemption Period, in Connection with Tender Offer      
Short-term Debt [Line Items]      
Debt instrument, redemption terms, percentage of outstanding debt hold by lender (no less than) 90.00%    
Debt Instrument, redemption terms, period following purchase date (not more than) 30 days    
Unsecured Debt | Redemption Period, in Connection with Tender Offer | Minimum      
Short-term Debt [Line Items]      
Debt Instrument, redemption terms, prior notice period 10 days    
Unsecured Debt | Redemption Period, in Connection with Tender Offer | Maximum      
Short-term Debt [Line Items]      
Debt Instrument, redemption terms, prior notice period 60 days    
Unsecured Debt | Redemption Period, Certain Circumstances Involving Change of Control Event      
Short-term Debt [Line Items]      
Debt instrument, redemption price, percentage 101.00%    
v3.24.2.u1
Debt - Schedule of Debt Instrument Redemption (Details) - 2030 Notes - Unsecured Debt
 6 Months Ended
Jun. 30, 2024
2024  
Debt Instrument [Line Items]  
Debt instrument, redemption price, percentage 101.938%
2025  
Debt Instrument [Line Items]  
Debt instrument, redemption price, percentage 100.969%
2026 and thereafter  
Debt Instrument [Line Items]  
Debt instrument, redemption price, percentage 100.00%
v3.24.2.u1
Debt - Schedule of Long-term Debt (Details) - Unsecured Debt - 2030 Notes - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Debt Instrument [Line Items]    
Principal $ 1,000,000 $ 1,000,000
Unamortized issuance costs (9,021) (9,700)
Net carrying amount $ 990,979 $ 990,300
v3.24.2.u1
Debt - Schedule of Interest Expense (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Debt Instrument [Line Items]        
Total interest expense $ 10,204 $ 10,129 $ 20,567 $ 20,141
2030 Notes | Unsecured Debt        
Debt Instrument [Line Items]        
Contractual interest expense 9,688 9,688 19,376 19,376
Amortization of debt issuance costs 341 327 679 651
Total interest expense $ 10,029 $ 10,015 $ 20,055 $ 20,027
v3.24.2.u1
Commitments and Contingencies (Details)
Jun. 30, 2024
USD ($)
Commitments and Contingencies Disclosure [Abstract]  
Letters of credit available, amount $ 0
v3.24.2.u1
Stockholders' Equity - Additional Information (Details)
shares in Thousands
 3 Months Ended
Mar. 31, 2024
shares
Mar. 31, 2023
shares
Jun. 30, 2024
vote
$ / shares
shares
Dec. 31, 2023
$ / shares
shares
Class of Stock [Line Items]        
Common stock, shares authorized (in shares)     5,000,000 5,000,000
Common stock, par value (in dollars per share) | $ / shares     $ 0.0001 $ 0.0001
Preferred stock, shares authorized (in shares)     100,000  
Preferred stock, par value (in dollars per share) | $ / shares     $ 0.0001  
Common Class A        
Class of Stock [Line Items]        
Common stock, shares authorized (in shares)     4,935,000 4,935,000
Common stock, par value (in dollars per share) | $ / shares     $ 0.0001  
Common stock, number of votes per share | vote     1  
Common Class B        
Class of Stock [Line Items]        
Common stock, shares authorized (in shares)     65,000 65,000
Common stock, par value (in dollars per share) | $ / shares     $ 0.0001  
Common stock, number of votes per share | vote     20  
Common Class B | David Baszucki Founder        
Class of Stock [Line Items]        
Number of Class B common stock converted into Class A common stock (in shares) 1,400 1,300    
v3.24.2.u1
Stockholders' Equity - Schedule of Future Issuance (Details) - shares
shares in Thousands
Jun. 30, 2024
Dec. 31, 2023
Class of Stock [Line Items]    
Common stock shares reserved for future issuance (in shares) 197,444 175,012
Stock options outstanding    
Class of Stock [Line Items]    
Common stock shares reserved for future issuance (in shares) 35,718 40,159
Restricted Stock Units (“RSUs”) outstanding    
Class of Stock [Line Items]    
Common stock shares reserved for future issuance (in shares) 37,702 39,846
Performance Shares | Performance Stock Units (“PSUs”)    
Class of Stock [Line Items]    
Common stock shares reserved for future issuance (in shares) 2,304 905
Performance Shares | CEO Long Term Performance Award    
Class of Stock [Line Items]    
Common stock shares reserved for future issuance (in shares) 0 11,500
2020 Equity Incentive Plan    
Class of Stock [Line Items]    
Common stock shares reserved for future issuance (in shares) 100,056 66,114
2020 Employee Stock Purchase Plan    
Class of Stock [Line Items]    
Common stock shares reserved for future issuance (in shares) 21,301 16,075
Stock warrants outstanding    
Class of Stock [Line Items]    
Common stock shares reserved for future issuance (in shares) 264 264
Unregistered stock awards (“RSAs”) outstanding    
Class of Stock [Line Items]    
Common stock shares reserved for future issuance (in shares) 99 149
v3.24.2.u1
Stock-based Compensation Expense - Additional Information (Details)
$ / shares in Units, $ in Thousands
 1 Months Ended 3 Months Ended 6 Months Ended
Mar. 01, 2024
USD ($)
measure
installment
shares
Feb. 28, 2021
shares
Jun. 30, 2024
USD ($)
shares
Mar. 31, 2024
$ / shares
shares
Jun. 30, 2023
USD ($)
measure
$ / shares
Jun. 30, 2022
USD ($)
period
$ / shares
shares
Jun. 30, 2024
USD ($)
plan
$ / shares
shares
Jun. 30, 2023
USD ($)
measure
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Number of plans | plan             3  
Stock-based compensation expense (benefit)     $ 251,891   $ 212,362   $ 492,393 $ 397,266
2024 CEO PSUs and RSUs                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Stock-based compensation expense (benefit) $ 84,400   7,300       17,800  
Share-based payment arrangement, nonvested award, cost not yet recognized, percentage 75.00%              
2020 Employee Stock Purchase Plan                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Stock-based compensation expense (benefit)     $ 5,000   8,300   $ 11,500 15,400
Stock options outstanding | 2004 Incentive Stock Plan                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Share based compensation by share based payment arrangement number of shares available for issuance (in shares) | shares     0       0  
RSUs outstanding                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Granted (in shares) | shares             10,606,000  
Granted, weighted average grant date fair value (in dollars per share) | $ / shares             $ 39.05  
RSUs outstanding | CEO Long Term Performance Award | Founder CEO                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Number of RSUs eligible to vest (in shares) | shares   11,500,000            
RSUs outstanding | CEO Long Term Performance Award | Founder CEO | Common Class A                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Service period   5 years            
RSUs outstanding | 2024 CEO PSUs and RSUs                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Service period 3 years              
Granted (in shares) | shares 148,844              
RSUs outstanding | 2024 CEO PSUs and RSUs | Founder CEO                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Share-based payment arrangement, nonvested award, cost not yet recognized, amount $ 84,400              
Stock-based compensation expense (benefit)         12,200     24,200
Performance-Based Restricted Stock Units (RSUs) | 2024 CEO PSUs and RSUs                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Share-based payment arrangement, nonvested award, cost not yet recognized, percentage 25.00%              
Performance period             2 years  
Number of performance measures | measure 2              
PSU target number of shares (in shares) | shares 446,534              
Share-based compensation arrangement by share-based payment award, target number of shares, performance measures of cumulative, percentage 80.00%              
Share-based compensation arrangement by share-based payment award, target number of shares, adjusted EBITDA, percentage 20.00%              
Performance-Based Restricted Stock Units (RSUs) | 2024 CEO PSUs and RSUs | Share-Based Payment Arrangement, Tranche One                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Share-based compensation arrangement by share-based payment award, award vesting rights, percentage 67.00%              
Number of installments | installment 4              
Performance-Based Restricted Stock Units (RSUs) | 2024 Executive PSU Awards                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Stock-based compensation expense (benefit)     $ 2,700       $ 2,700  
PSU target number of shares (in shares) | shares       353,241        
Share-based compensation arrangement by share-based payment award, target number of shares, performance measures of cumulative, percentage       80.00%        
Share-based compensation arrangement by share-based payment award, target number of shares, adjusted EBITDA, percentage       20.00%        
Granted, weighted average grant date fair value (in dollars per share) | $ / shares       $ 41.32        
Performance-Based Restricted Stock Units (RSUs) | 2023 PSU Awards                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Stock-based compensation expense (benefit)     $ 2,300   $ 1,500   $ 1,600 $ 1,500
Performance period         2 years      
Number of performance measures | measure         2     2
PSU target number of shares (in shares) | shares     213,502       213,502  
Share-based compensation arrangement by share-based payment award, target number of shares, performance measures of cumulative, percentage             80.00%  
Share-based compensation arrangement by share-based payment award, target number of shares, adjusted EBITDA, percentage             20.00%  
Granted, weighted average grant date fair value (in dollars per share) | $ / shares         $ 45.70      
Performance-Based Restricted Stock Units (RSUs) | 2023 PSU Awards | Share-Based Payment Arrangement, Tranche One                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Share-based compensation arrangement by share-based payment award, award vesting rights, percentage         50.00%      
Performance-Based Restricted Stock Units (RSUs) | 2023 PSU Awards | Share-Based Payment Arrangement, Tranche Two                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Share-based compensation arrangement by share-based payment award, award vesting rights, percentage         50.00%      
Performance-Based Restricted Stock Units (RSUs) | 2022 PSU Awards                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Stock-based compensation expense (benefit)     $ (1,200)   $ 1,000   $ (500) $ 2,000
Performance period           3 years    
PSU target number of shares (in shares) | shares           207,284    
Granted, weighted average grant date fair value (in dollars per share) | $ / shares           $ 43.13    
Estimated total share-based payment expense           $ 6,000    
Share-based payment award, number of measurement periods | period           5    
Performance-Based Restricted Stock Units (RSUs) | Minimum | 2024 CEO PSUs and RSUs                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Percentage of shares earned of the target number of shares 0.00%              
Performance-Based Restricted Stock Units (RSUs) | Minimum | 2023 PSU Awards                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Percentage of shares earned of the target number of shares         0.00%     0.00%
Performance-Based Restricted Stock Units (RSUs) | Minimum | 2022 PSU Awards                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Percentage of shares earned of the target number of shares           0.00%    
Performance-Based Restricted Stock Units (RSUs) | Maximum | 2024 CEO PSUs and RSUs                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Percentage of shares earned of the target number of shares 200.00%              
Performance-Based Restricted Stock Units (RSUs) | Maximum | 2023 PSU Awards                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Percentage of shares earned of the target number of shares         200.00%     200.00%
Performance-Based Restricted Stock Units (RSUs) | Maximum | 2022 PSU Awards                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Percentage of shares earned of the target number of shares           200.00%    
v3.24.2.u1
Stock-based Compensation Expense - Schedule of Stock-based Compensation Expense (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]        
Stock-based compensation expense $ 251,891 $ 212,362 $ 492,393 $ 397,266
Infrastructure and trust & safety        
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]        
Stock-based compensation expense 27,973 22,695 55,248 41,227
Research and development        
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]        
Stock-based compensation expense 180,556 147,768 353,803 277,025
General and administrative        
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]        
Stock-based compensation expense 34,796 34,823 66,441 65,473
Sales and marketing        
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]        
Stock-based compensation expense $ 8,566 $ 7,076 $ 16,901 $ 13,541
v3.24.2.u1
Stock-based Compensation Expense - Schedule of Company's Stock Option Activity (Details)
$ / shares in Units, shares in Thousands, $ in Thousands
 6 Months Ended 12 Months Ended
Jun. 30, 2024
USD ($)
$ / shares
shares
Dec. 31, 2023
USD ($)
$ / shares
shares
Number of Shares Subject to Options    
Beginning balance (in shares) | shares 40,159  
Granted (in shares) | shares 0  
Cancelled, forfeited, and expired (in shares) | shares (155)  
Exercised (in shares) | shares (4,286)  
Ending balance (in shares) | shares 35,718 40,159
Exercisable (in shares) | shares 35,047  
Vested and expected to vest (in shares) | shares 35,718  
Weighted-Average Exercise Price (per Option)    
Beginning balance, weighted average exercise price (in dollars per share) | $ / shares $ 2.98  
Granted, weighted average exercise price (in dollars per share) | $ / shares 0  
Cancelled, forfeited, and expired, weighted average exercise price (in dollars per share) | $ / shares 5.01  
Exercised, weighted average exercise price (in dollars per share) | $ / shares 2.88  
Ending balance, weighted average exercise price (in dollars per share) | $ / shares 2.99 $ 2.98
Exercisable, weighted average exercise price (in dollars per share) | $ / shares 2.95  
Vested and expected to vest, weighted average exercise price (in dollars per share) | $ / shares $ 2.99  
Weighted-Average Remaining Contractual Term (Years) 4 years 8 months 8 days 5 years 1 month 28 days
Exercisable, weighted-average remaining contractual term 4 years 7 months 28 days  
Vested and expected to vest, weighted-average remaining contractual term 4 years 8 months 8 days  
Aggregate Intrinsic Value | $ $ 1,222,343 $ 1,716,171
Exercisable, aggregate intrinsic value | $ 1,200,830  
Vested and expected to vest, aggregate intrinsic value | $ $ 1,222,343  
v3.24.2.u1
Stock-based Compensation Expense - Schedule of Company's Restricted Stock Units and Unregistered Restricted Stock Awards Activity (Details)
shares in Thousands
 6 Months Ended
Jun. 30, 2024
$ / shares
shares
RSUs  
Number of Shares  
Beginning balance (in shares) | shares 39,846
Granted (in shares) | shares 10,606
Vested and released (in shares) | shares (10,019)
Cancelled (in shares) | shares (2,731)
Ending balance (in shares) | shares 37,702
Weighted-Average Grant Date Fair Value (per Share)  
Beginning balance (in dollars per share) | $ / shares $ 42.25
Granted (in dollars per share) | $ / shares 39.05
Released (in dollars per share) | $ / shares 43.14
Cancelled (in dollars per share) | $ / shares 41.83
Ending balance (in dollars per share) | $ / shares $ 41.14
RSAs  
Number of Shares  
Beginning balance (in shares) | shares 149
Granted (in shares) | shares 0
Vested and released (in shares) | shares (50)
Cancelled (in shares) | shares 0
Ending balance (in shares) | shares 99
Weighted-Average Grant Date Fair Value (per Share)  
Beginning balance (in dollars per share) | $ / shares $ 46.00
Granted (in dollars per share) | $ / shares 0
Released (in dollars per share) | $ / shares 46.00
Cancelled (in dollars per share) | $ / shares 0
Ending balance (in dollars per share) | $ / shares $ 46.00
v3.24.2.u1
Accumulated Other Comprehensive Income/(Loss) (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]        
Balance beginning $ 62,687 $ 245,182 $ 68,626 $ 305,035
Other comprehensive loss, net of tax (619) (13,730) (7,678) (14,373)
Balance ending 111,301 164,200 111,301 164,200
Total        
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]        
Balance beginning (5,589) 62 1,536 671
Other comprehensive loss, net of tax, before reclassifications     (8,889)  
Amounts reclassified from accumulated other comprehensive loss, net of tax     1,124  
Other comprehensive loss, net of tax (640) (14,157) (7,765) (14,766)
Balance ending (6,229) $ (14,095) (6,229) $ (14,095)
Foreign Currency Translation        
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]        
Balance beginning     1,442  
Other comprehensive loss, net of tax, before reclassifications     (708)  
Amounts reclassified from accumulated other comprehensive loss, net of tax     0  
Other comprehensive loss, net of tax     (708)  
Balance ending 734   734  
Unrealized Gains/ (Losses) on Available-For-Sale Debt Securities        
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]        
Balance beginning     94  
Other comprehensive loss, net of tax, before reclassifications     (8,181)  
Amounts reclassified from accumulated other comprehensive loss, net of tax     1,124  
Other comprehensive loss, net of tax     (7,057)  
Balance ending $ (6,963)   $ (6,963)  
v3.24.2.u1
Employee and Director Benefits (Details) - NQDC Plan
 6 Months Ended
Jun. 30, 2024
Employee  
Defined Benefit Plan Disclosure [Line Items]  
Maximum percentage of salary 90.00%
Maximum percentage of cash bonus compensation 100.00%
Maximum granted, percentage 65.00%
Non Employee Director  
Defined Benefit Plan Disclosure [Line Items]  
Maximum percentage of salary 100.00%
v3.24.2.u1
Joint Venture (Details) - USD ($)
 1 Months Ended 3 Months Ended 6 Months Ended
May 10, 2023
Feb. 28, 2019
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
6.0% Notes Due 2026            
Schedule of Equity Method Investments [Line Items]            
Interest expense     $ 200,000 $ 100,000 $ 400,000 $ 100,000
6.0% Notes Due 2026 | Unsecured Debt            
Schedule of Equity Method Investments [Line Items]            
Interest rate 6.00%          
Songhua River Investment Limited | 6.0% Notes Due 2026            
Schedule of Equity Method Investments [Line Items]            
Proceeds from debt, net of issuance costs $ 14,700,000          
Roblox China Holding Corp            
Schedule of Equity Method Investments [Line Items]            
Equity method investment ownership percentage   51.00%        
Roblox China Holding Corp | 6.0% Notes Due 2026            
Schedule of Equity Method Investments [Line Items]            
Proceeds from debt, net of issuance costs 15,300,000          
Roblox China Holding Corp | 6.0% Notes Due 2026 | Unsecured Debt            
Schedule of Equity Method Investments [Line Items]            
Debt instrument, aggregated principal amount $ 30,000,000          
Debt instrument, term of maturity date extension 2 years          
Roblox China Holding Corp | Songhua River Investment Limited            
Schedule of Equity Method Investments [Line Items]            
Minority interest percentage in joint venture   49.00%        
Roblox China Holding Corp | Songhua River Investment Limited            
Schedule of Equity Method Investments [Line Items]            
Contribution by non controlling interest to the joint venture   $ 50,000,000.0        
v3.24.2.u1
Basic and Diluted Net Loss Per Common Share - Schedule of Calculation of Basic and Diluted Net Loss Per Share (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Numerator        
Consolidated net loss $ (207,195) $ (284,841) $ (479,115) $ (554,789)
Less: net loss attributable to noncontrolling interests (1,312) (2,064) (2,628) (3,699)
Net loss attributable to common stockholders $ (205,883) $ (282,777) $ (476,487) $ (551,090)
Denominator        
Weighted-average common shares used in computing net loss per share attributable to common stockholders, basic (in shares) 642,814 612,689 638,917 609,680
Weighted-average common shares used in computing net loss per share attributable to common stockholders, diluted (in shares) 642,814 612,689 638,917 609,680
Net loss per share attributable to common stockholders, basic (in dollars per share) $ (0.32) $ (0.46) $ (0.75) $ (0.90)
Net loss per share attributable to common stockholders, diluted (in dollars per share) $ (0.32) $ (0.46) $ (0.75) $ (0.90)
v3.24.2.u1
Basic and Diluted Net Loss Per Common Share - Schedule of Antidilutive Securities (Details) - shares
shares in Thousands
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]    
Antidilutive securities excluded from computation of earnings per share (in share) 75,955 85,425
Stock options outstanding    
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]    
Antidilutive securities excluded from computation of earnings per share (in share) 35,718 46,588
RSUs outstanding    
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]    
Antidilutive securities excluded from computation of earnings per share (in share) 37,702 36,045
2020 ESPP    
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]    
Antidilutive securities excluded from computation of earnings per share (in share) 2,123 2,177
2023 PSUs Awards based on performance target achievement at period-end    
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]    
Antidilutive securities excluded from computation of earnings per share (in share) 49 0
Stock warrants outstanding    
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]    
Antidilutive securities excluded from computation of earnings per share (in share) 264 264
RSAs outstanding    
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]    
Antidilutive securities excluded from computation of earnings per share (in share) 99 351