37: Roblox, Cloudflare, Initial Claims

Welcome to Sunday Edition, where I cover the markets, economy, and uncover hidden gems across the internet. This week I'm covering initial claims, Roblox earnings, and Cloudflare getting responsible.

Quote of the week

From one of the best books on mindset. For those of you who don't know, Mr. Grover was private trainer to Michael Jordan, then Kobe Bryant, who both attributed his training to much of their success. He may know a thing or two about winning.

"The battle begins and ends in your own mind. Your thoughts have to be constantly renewed, like a daily subscription that must be paid so you can think clearly. You get updates for your computer and your phone; how often do you update your ideas? Your strategies? Your priorities? How often do you reboot your mental energy and delete the outdated programs and files?"

Tim S. Grover, Winning




Company Updates

One of my favorite companies, Roblox, reported earnings. A brief summary:

Roblox Q1 2024 Performance Highlights

  • Roblox reported daily active users (DAUs) over 77 million, a 17% year-on-year growth, with strong growth in users over 13 years old at 22%. 
  • Significant geographical growth in Japan (50%) and India (58%). 
  • Hours engaged reached 16.7 billion for the quarter, marking a 15% year-on-year increase. 
  • Revenue for Q1 was $801 million, surpassing guidance with a 22% year-on-year increase. 
  • Bookings were $923.8 million, within the guidance range and representing a 19.4% year-on-year growth. 
  • GAAP net loss was $272 million, less than the guided net loss of $347 million to $342 million. 
  • Net cash flow from operations in Q1 was $238 million, up 37% year-on-year, and free cash flow increased by 133% to $191 million. 

Really great stuff.


Cloudflare (NET) is giving me the warm and fuzzy in speaking on being responsible with capital:

So there are puts and takes that are out there. What we want to do is just make sure that we are being prudent and responsible and thoughtful as we make investments and as we think through how to handle the responsibility that we have with investors capital and that they've trusted us with.

Matthew Prince, CEO


QTD % YTD % 1 Year % Since Inception Annualized
S&P 500* -0.5 10.0 28.4 23.0 11.1
Portfolio -1.9 5.4 29.7 46.3 22.4
Performance data is indicative and should not be considered as advice. *S&P500 includes dividends reinvested. Inception date: 2022-04-18.

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