Quarterly guidance

Q4 Bookings
Decline by 10% to 15% year-over-year.
Q4 CapEx
$380 million.

Annual guidance

Full year CapEx
$460 million, which sits at the low end of the expectations shared at the beginning of the year.

Outlook

AI Infrastructure
Expect increased infrastructure expense in Q4 for AI initiatives like build, Roblox reality, and universal players.
Marketing
Plan to continue increasing marketing spend, specifically targeting users aged 18 and over.
CapEx
Planning for $380 million of CapEx in the fourth quarter.
Monetization
Do not assume short-term improvement in monetization for Q4 guidance purposes.
GTA Impact
Built in a modest headwind related to the GTA launch, though there is limited data to size the potential impact.