Q3 2021 Roblox Corp Earnings Call
Yes.
[music].
Ladies and gentlemen, thank you for standing by and welcome to the <unk> Q3, 2021 earnings Q&A.
At this time all participants are in a listen only mode.
Today's conference is being recorded.
If it gets presentation there will be a question and answer session. If you require any further assistance. Please press star zero, Oh, not hitting the conference over to your chicken today and again head of Investor Relations. Thank you. Please go ahead ma'am.
Good morning, everyone and thank you for joining our Q&A session to discuss <unk>.
Third quarter 2021 adults with me today is <unk> CEO, David <unk> and CFO, Mike Guthrie.
Let me start I wanted to remind everyone that yesterday after market close to publish a shareholder letter and earnings results on our Investor Relations website at IR Dot Redbox Dot com since the letter provides a lot of detail we will make some brief opening remarks and reserve the rest of the time for your questions.
Webcast participants. Please note the question icon at the bottom of your screen, where you can type in your question, we'll do our best to take as many questions as possible.
On today's call, we may be making forward looking statements, including but not limited to statements regarding our future financial performance business strategy plans and new platform features development of new technology and developer tools investment in the developer community and our talented payments to developers.
Our ability to bring index recording artist and brands to the platform. His successor, who lives on platform investments in international growth and development of the medical Investor Day in October financial performance and operating metrics any statement that refers to expectations projections or other characterization.
Future events, including financial projections future market condition, where the impact of COVID-19 on our business and the economy as a whole is a forward looking statement based on assumptions today actual results may differ materially from those expressed in forward looking statements and we make no obligation to update.
Our disclosures.
For more information about factors that may cause actual results to differ materially from forward looking statements. Please refer to the press release, we issued yesterday as well as risks described in our filings with the SEC, including our quarterly report on Form 10-Q filed by the state filed for the fiscal quarter ended June <unk>.
<unk> 2021, and other filings and reports we may make with the SEC from time to time.
Also discuss certain non-GAAP financial measures. These measures should not be considered in isolation from or as a substitute for financial information prepared in accordance with GAAP reconciliations between GAAP and non-GAAP metrics for our reported results can be found in our press release issued yesterday as well as in our supplemental.
Cereals copies of which can be found on our investor Relations website.
Finally, this call is being webcast and will be archived on our website. Shortly afterwards with that I'll turn the call over to David.
Thank you Anna and good morning to our reward shareholders as well as the whole robust community around the world.
We wish you all well we hope you are all coming out of Covid and getting back to normal as much as possible and we look forward to answering your questions today, where we will talk about our Q3 results as well as the month of October which we've also shared.
You highlight that in a week from now on November 16th we have a live streaming investor day I believe the eight a M Pacific time, where we will be spending several hours diving into our products back across the company.
With that we welcome your questions and look forward to speaking with you today. Thank you.
Operator, we're ready to take questions.
At this time, if you would like to ask an audio question. Please press Star then the number one on your telephone keypad. Once again that is star then the number one for any audio questions.
Your first question will come from the line of Alexia <unk> with Jpmorgan. Please go ahead with your question.
Alright. Thank you this is David criminal Kay on for Alexia.
Following the outage can you say with user trends look like on the platform did you see an immediate recovery in engagement and spend and then <unk>.
Maybe related to those can you just remind us of the typical monthly cadence in Q4, how does that number compare to October and kind of how much of a ramp do you historically see with the holiday group.
Yes. This is Dave I'll lead with the outage, which was an event that we're going to publish an analysis of publicly to share what happened.
As well as all the steps, we're taking to make sure is such a thing doesn't happen again.
We're quite gratified to see the support of the roadblocks community as we worked through it and we're also quite pleased to see when we came back live essentially no loss of users and continuation of our user trends.
I'll pass over to Mike for any future comments.
Hey, David.
First week of November looks really good.
Basically a recovery back to where we had been so we didn't see we are fortunate in that we didn't see any.
Lasting impact on our users so we.
We were obviously happy to see that.
As it relates to seasonality.
Q4 is.
Generally our biggest quarter and it's back end loaded because of the holidays. So no great surprise October November generally pretty similar.
So.
Just sort of going back many many years and looking at the two to two months, we see a bunch of pick up as you would expect around Thanksgiving when people are home a little bit more so yes, generally I would say we got a good solid 27 days of October and good trends.
And when we came back up it looks like you.
You just came back with us.
Lockstep.
Okay and then.
Our platform now majority 13, prosper Dia use I'm wondering if you would expect the percentage of experiences that qualified encouraged us to move to that level over time.
Are you seeing developers sort of react to that snakes and build more mature content.
How much do you think that can accelerate with tools like voice chat or the rating system you previewed at RBC.
Hey, this is Dave we have.
Been building this platform for over 16 years and one of the keys is that is powered by user created content millions of creators who make everything on roadblocks as we've.
<unk> grown up to as we've improved the quality of our personalized search and discovery more and more.
People on our platform are finding amazing content that is very aligned with what they're looking for and our creator community is very responsive to the wants and needs of the player community interesting a year ago, approximately 10% of our top thousand experiences have more.
Over 13 players then under recently that number has gone to 28% 28% of the top thousand experiences are now more 13, plus so the developer.
<unk> per community is responding creating amazing content for all ages for people around the world for interests.
There are niche pieces of content. They are a very broad spectrum pieces of content. So what we wanted to see happen and is happening.
Thank you.
Your next question will come from the line of Mike <unk> with Goldman Sachs. Please go ahead with your question.
Hey, good morning. Thanks for the question I just have two first with APAC and rest of world, particularly strong from an engagement perspective I was just wondering if you could talk a little bit about any initiatives that robotics is executing against from an international expansion perspective, and whether there were any experiences that particularly resonated with the <unk>.
A national users and then I have a quick follow up thanks.
Yes, I'm going to kick that over to Mike first because we had a great Q3 in APAC highlighted by Japan. So maybe Mike if you want to speak to that and then I'll follow up with what we do to support international growth an acceleration I don't think we could point to any specific piece of content or pieces of content that we're just dramatically different in Asia Pacific.
Generally you have a decent amount of overlap around the world we are seeing increasingly.
Increasing amounts of affinity for local content in certain market. So as developers are growing in and around Asia Pacific.
And then the rest of world. They will start building or have started building content that is relevant globally and relevant in those local markets and so.
There is no specific.
Spike this quarter I think this is a much longer term trend that we've seen developing as the desk base has become more global we will talk a little bit about this at the investor.
Investor Day next week.
But it's just a good solid compounding of the trends that we've been seeing is.
Local content, becoming more of a more content developed around the world and some of the affinity for local content, increasing and then one thing that is that drives our international growth is the extent to which we can dynamically and automatically translate experiences as they are created and the extent to which.
Developers if need be supplement that with hand translation.
That technology is continuously improving both the quality of the translation as well as the percentage of the experiences that by default have this on so.
That is a contributing factor more in strategic international growth.
Great. Thank you for the thoughts and I was just wondering if you could talk a little bit about the traction with brand experiences.
Vans World in the letter.
Are these brands participating on the platform in the same way that others do in our UGC or self serve capacity for our brand experiences higher touch right now and does that change over time. Thank you very much.
Yes. This is Dave long term vision for brands is the exact same as gains or play experiences and that we imagine an ecosystem, where there are thousands and thousands of these experiences. They are created in concert between brands and possibly creators and developer communities, but just is.
16 years ago gains and play experiences where new one roadblocks. This is relatively new versus some of them. So there is some touch now and are developed in our Investor Day next week, we'll be sharing the parts of the roadmap. We are working on this year to make that as self service as <unk>.
Possible and that includes the creation of the <unk>.
They deal with IP and assets, how they may if they choose to monetize.
The high level vision, we have is just as print and just as video have been and continue to be interesting ways for brands to interact with their audience immersive is really immersive way for brands to interact with their audience and as you noted with vans World, which had <unk>.
Over 40 million visits people, who visited vans world, we're able to wear vans can escape boarding checkout the shop see what new items Van had van said for sale. So it's a really immersive way for brands to connect with their fans.
Great. Thank you Dave Thanks, Mike.
And one from the webcast Thomas Reiner from complement.
Can you discuss the monetization trends internationally versus Canada Lat.
Yesterday, you've invested a lot in localization in backhaul is monetization international growing faster.
In Canada.
Thank you Thomas.
I'll have to go back and look at the rate of change of monetization.
I'd say right now we're in the part of growth internationally, where it's very much true.
And by user growth.
And over time going back many years in our core markets we've seen users.
They retain on the platform they spend the cumulative amount of time, some percentage of them convert and become payers once they become payers and our retained as payers. They tend to increase their spending levels I think that's happening faster now in international markets for a whole variety of reasons, primarily because you've just got smarter.
Later dates with better content, and so people are becoming payers faster and starting to increase their monetization faster right now.
Again, we generally are looking at bookings growth is driven primarily by user and engagement growth.
We get we get the question a lot about about the ratios between.
Monetization per user and I'll, just caution that when you have high bookings growth and user growth.
The rate of change in the numerator and denominator can make the numbers look like they're going up or down generally our triangles monetization of a very long period of time is that those payer cohorts tend to increase the monetization over a very long period of time. So if we go back to core markets like U S and Canada, we still have growth in our.
Payer cohorts going all the way back to 2016.
We expect that we're going to see the same behavior in international markets and particularly in Asia Pacific.
When I look at the high high growth.
Markets in.
In the quarter that we that we just completed.
The really high growth markets of Southeast Asia, East Asia, which is mostly Japan and Korea Western Europe, we're talking about a lot, France, Germany, Spain, and others and then Latin America and so in some of those markets you've got.
Well for user base than other markets you have slightly lower GDP per capita so there'll be a real mix and I guess I don't know what will be forecasting exactly that ratio for a while but we'll be looking a lot at users engagement and the result in bookings and that's really where we're going to be focused.
Your next question comes from the line of Brandon Ross with <unk> Partners. Please go ahead with your question.
Hi, Thanks for taking the questions. My first one you highlighted the aging the up and.
The number of experiences that are 13, plus and I was curious it's cultural events like squid games or split game that is R 21 pilots bring.
Bring an even older users and whether those stick around and generally how you thought about your eating up do you think it's going to be or where it hasnt been so far just Jason.
To your core demo.
Or are you bringing in.
Older.
Users and then a follow up.
Yeah.
So great question first want to highlight right now we don't have any only 13 enough experiences we have 28% of the top thousand experiences having a majority of 13 plus but those are still experiences that are open to all ages, we we talk a lot about aging up.
We're right in the middle of it and we're right in the middle of very solid growth in our 2017 through 24 year old cohort.
The exciting thing about the older cohorts on our platform is theres a lot of white space. There. We've historically started with younger players. It's been an amazing advantage to us because we've had to focus on being a civil and safe place and now we see growth in two areas one.
Is the existing correctly note. We also bring other people in squid games. The concerts, both examples of events we believe.
Most likely reached some new audience and in case of squid game looking for and Thats singular squid game.
People looking for a place to experience that brand side by side the awesome Awesome show.
And so they came to roadblocks, where they could see that so I do believe those things add to the retained the people that come into our platform and stick with us and bring new older players to their platform.
We just took that we knew.
We know that Gucci garden had an older demo for sure.
In the month of September it was it was quite a bit of an older demo each of these individual pieces of content I think contributes to an overall trend of.
Broadening the.
Aged demographic around the company so.
It's a receptive market when you do something like 21 pilots or Gucci Garden clearly music is a good example, where an artist that hasnt alder following it's quite likely that theyre going to have an older. Following in fact roadblocks and it can attract.
<unk>.
Some of those users we have been tracking aged up demos for years and for a long time 13 to 16 was our fastest growing age demographic and I think you used the word adjacent and Thats exactly what it what it was it was adjacent to our core nine to 12 market and it was our fastest growing age cohort for quite a while today the adjacency.
With continued in right now 17% to 24 is the fastest growing demographic.
On robotics.
I think it's.
It's not any individual event or piece of content I think it's a combination of everything that's going on and then certain of these things are finding.
Big audiences and contributing to again, this broadening and age demos.
I just wanted to ask one other thing on squid game.
And what happened on our platform in various countries around the world, where theres a lot of attraction and attention about this it highlights the velocity at which both the combination of our cloud tools, our development environment and the creators on the platform are able to respond and create interesting in <unk>.
The content and we Werent talking months, we're talking days four functioning experiences that could go hand in hand with the television series.
Yeah, I wanted to stick with game for a second.
No I think you said earlier you might touch on that.
Analysts day.
But is there a way to directly linked to the brands and media companies to help them maximize the impact from this high velocity.
C.
Creation, that's going on around their business platform.
I think that more and more of this is right. This was more than organic situation more and more I believe we will see intentional situation.
Couple of days ago. For example, one of the top experiences on robots Jailbreak announced an intentional partnership with NASCAR.
Which is the orphan brand experience there is.
Already a great place on roadblocks, where people are driving cool vehicles around all of a sudden we have NASCAR vehicles. So I do think over time, we will see both.
Organic experiences as well as intentional experiences even though this one is organic I don't want to speak for Netflix, but I have seen quotes about their appreciation almost in a way that this media sensation in a way has manifested itself in other in other ways on the roadblocks.
Yes.
And the intention on category. Another thing we mentioned in the letter again with Netflix was that was Bakugan as it's another example of something that was quite intentional to stream that <unk> on the platform.
Your next question comes from the line of Brian Nowak with Morgan Stanley. Please go ahead with your question.
Hi, guys, it's Matt on for Brian Thanks for taking the questions.
There have been some headlines.
Recent weeks about some smaller companies that are that are basically building add businesses that help place ads inside of roadblocks experiences and I was wondering.
Your philosophical view is on those sort of avenues for brands to come to the platform and how you see them fitting into the broader branding and advertising opportunity in roadblocks and then just secondly.
On closing closing the loop to maybe offline transactions. It seems like there's a big opportunity for people to interact with brands.
On roadblocks, and then make purchases of physical goods.
If a kid is playing with hot wheels.
And Ah roadblocks game, they've been go by actual realized hot wheels cars can you talk about your thought process in your efforts to sort of maybe start to link.
That brand experience to offline.
Thanks.
Yes. This is Dave I'll speak on advertising first and I'm going to go more long view on this rather than the specific the long view is we have focused primarily to date.
On the engagement and satisfaction of our users more than monetization on the platform and we have built systems, including our virtual economy and engagement based paas.
<unk> already created a very rich and vibrant developer community with large businesses some of our developers, making tens of millions of dollars a year advertising as an enormous opportunity and at the same time, our vision for advertising is immersive, it's native it's around high quality <unk>.
<unk> and over time, we'll be working on rolling out the <unk>.
Standards around this.
This is supported.
Globally, and we do think there is an interesting and big future and at the same time, a very sizing type future. So.
Yes.
Super Super optimistic about that.
Second question I believe.
And maybe it might be a comment on it.
You want to take that one yes, we are.
We've seen the same exact.
We are in the very earliest.
Stages of talking to brands about that for now they are promoting their brands directly with the user base I think it's logical to all of us.
Who is not only interact.
I think it was a brand in a virtual world or even buying virtual goods using maybe vans again as an example, maybe has.
Vince clothing on.
On their avatars, and ultimately, saying they would like to own their shoes or those sorts of things.
T shirts, and so we see it as well and we ultimately do you think in fact, it's a big experienced a big opportunity obviously for the brand. It would take all of the returns are being on robots up to a different level and so.
Yes.
<unk>.
I don't think Theres any doubt on the long run that's where we'll end up maybe and maybe the first sign of this was our partnership with Chipotle, where this wasn't a full on buying your van shoes on roadblocks, but there was a physical digital connection there and just want to reiterate our outage was in no way affiliated with the popularity of that event.
Great. Thank you.
Your next question comes from the line of drew Crum with Stifel. Please go ahead with your question.
Okay. Thanks, good morning, everyone.
So given the recent developments in China can you share any updated thoughts around the company's strategy and the smart.
Market and then separately understanding youre saving more explanation around the caused the outage for a later date, if you're willing could you discuss how you see <unk>.
There are changes, where you're direct resources and investment spending going forward.
Yes, first I will go to China.
We take a super long view in the company and we have a vision.
Platform that connects around the world, where content created anywhere countries, including China, there and we're continuing to build out the system.
That make that possible and once again, we have a wonderful partnership in China with Tencent.
<unk> remained diligent there on the outage.
<unk>.
What I will share is that what we saw in the outage.
As.
Our community and.
A lot of highlighting around how big robot as a part of People's lives and how they use it and depend on.
So on it to be together, so I think it's fair to say as part of our analysis and then as we share what we'll be doing to make sure. This never happens again, there may be some adjustments.
And I think minor we have an awesome team I have complete confidence in the team and we have an awesome infrastructure. There may be some adjustments that we take just to follow up on that analysis.
Your next question comes from the line of Matthew Thornton.
But curious securities. Please go ahead with your question.
Hey, good morning, David Mike and Anna.
I guess, just just first around subscription.
Subscription accretive to engagement and retention and given some of the App store is the fact that they've lowered the take rate on subscriptions at the unit economics get better for you guys.
Is there opportunity to maybe drive up subscription or accelerate subscription in the mix, thus being able to return.
More dollars to developers, so a little bit about a win win there I'll start there and then I've got one follow up.
Just a quick answer.
Subscription is accretive to retention and monetization.
No doubt about that.
Partners with both Apple and Google and all of our other partners Microsoft that.
<unk> roots for people to be on our platform and support monetization.
As much as possible.
I'd like to move money to our creator community and I think as any changes occur on any of these platforms and as those rates change we would take that opportunity if made available to us to move more of that virtual economy through our company to the creator communities.
So.
Long term, yes, if those app store rates happen to change will move the majority of it to our creator community in.
Provide them, even greater economic benefit quick quick follow up I guess, maybe it too far to park.
Housekeeping question can you remind us Mike you talked about in November.
Recovering post outage in the northwest.
The solid start can you kind of remind us normal seasonality November and December and then you guys did three small acquisitions in the quarter I guess.
Anything you could say, it's kind of what kind of contribution those with <unk> first.
Very exciting and strategic transactions.
We're pleased to have.
Some great people on the team that came with those transactions from entrepreneurs, who had started really interesting businesses and it's great to have them that worldwide.
Contributed zero dollars to the bookings of the company. So it was really.
IP and capabilities and people and we're delighted with all the transactions.
In terms of November as I said earlier November and October are pretty similar.
One fewer day in November obviously.
But.
I'd have to look at the weekend, if I was trying to kind of.
Forecast the number.
We always do a little bit more on the weekends and then obviously around the Thanksgiving holiday that's a big that's a big bump up for us in the month of November.
You can look at last year's data.
October and November.
Not quite double the October and.
November numbers, but.
Higher or something like that so.
We have a big big backend.
In Q4 with December and Thats, just been true travel.
Your next question will come from the line of Clark Lampkin PK <unk>. Please go with your question.
Hi, good morning.
The tech related questions first you guys talked about infrastructure expansion to reduce latency at RBC.
If you can help us think about one how much and it might accelerate over the next few years and whether something like Ips can scale is a key problem due to AI.
And secondly, what sort of relationship for elasticity exists between user growth and latency reduction per gross add or retention standpoint.
And separately, Dave I think nearly everything on your list of five year goals checked off with the exception of the president mentioning their avatar on camera and I get the push on the toys sold item you said.
Still got some time on both of those but I'm curious whether you started drawing up the next version of the list and whether you might share with us what item or items are sitting at the top now.
Hey, Yeah. Thank you great question and that is the list that I've been presenting every year at our robots developer conference that started four years ago with instead of 10 predictions.
Amazingly many of them have come through including over $1 million concurrency roadblocks plays more creators outside the world then.
There are a couple ones as you note, we might not hit including the president mentioning their robots avatar alive, but.
But we still have about 11 months, then we'll see what we can do there.
Adding to infrastructure.
Couple of things, we've architected roadblocks to reduce latency, even in an avatar interaction between a player in Germany and a player in Japan.
Underlying that Tac is a hybrid distributed physics system, where some of what Youre seeing is happening local on your machine, including your Avatar motion and then some of it's happening in the cloud and then were time, placing it along with the player that's remote so at its core now the way we've accelerated that.
As we have many many data centers all around.
And whenever possible.
We connect people together at their nearest data centers.
These are high performance high reliability data centers.
Very very low cost and as you correctly note given that we operate this infrastructure. There's a lot of opportunities we have that we have not tapped yet.
The reduction in example.
We have an amazing collection.
The content, there could be a future where some of that content.
From our data centers.
We have a lot of bandwidth around the world. So that people, who are connecting perhaps in Japan, and our need to hop over to Ashburn do it on our network rather than on the IP network to get them more high speed and reliable connections. So underneath roadblocks there is a fairly substantial infrastructure cloud.
Good.
We are close to 10 terabits of external bandwidth, which is the <unk>.
China's how solid our infrastructure is and we have other things we're looking at to reduce latency as well as part of this cloud infer that we've built.
I appreciate it's a technical question.
There are no further audio questions at this time.
Okay, we're going to take some from <unk>.
First question.
Question.
Robots crowd named.
Mainstream for older audiences, how <unk> and propane.
And from me.
Yes, we're already doing this and I see the metrics every week. They are already really good and they keep getting better and better is really the top priority on the platform.
I feel we're in a really good position and that we're starting from a difficult place, which has created civil society for people of all ages and then as we bring more and more older players onto the platform we're carefully adding.
Some amounts of freedom in certain situations, we'll always respecting our core foundation of safety and stability. So it's a top priority we're already doing it we already have a lot of older people on the platform over half of our people are over 13, plus and so this is something we're doing and we'll continue to do better and better.
As we go.
Okay.
The next question is from Eric filings in Haynesville have you.
In the offing.
Of claims.
And just pumping up in blockchain.
Thanks.
And then something you would consider app adoption over time.
Yes.
We're focused on social connection and engagement at roadblocks, we're focused on supporting people doing things together, whether it's playing or learning or working or experiencing entertainment and our focus is on supporting that naturally in virally people want to come to our plan.
<unk> just to be with their friends.
Speaking of game mechanics.
We right now do not allow any experiences on roadblocks to ultimately payback roebucks to the players. So we don't have any plans to do that.
Our next question from Thomas.
Okay.
Capital Hi, David could you share your vision on lengthening of our Opex and creators how are you looking at for the balance are in clean air compensation in the future and how is the general developer and cleaner feedback on the current state of things regarding how much they make harmonix game.
Yes so.
When we think about this creator community we've evolved over the last 10 plus years from a thriving hobby community to the introduction of our virtual economy, two individuals starting to make a living on the platform to larger and larger studios, making tens.
Millions of dollars a year to now in the news.
A fair amount of VC funding roadblocks studios to grow and accelerate so that progression as an indication of the health of the community.
We focus primarily on growing user engagement and the quality of that experience to grow the platform as our platform has grown year by year, whether its developer number one developer number 10 developer in 100 or developer 1000, we think constant increase.
<unk> and their participation in the economy, and we're hopeful and we expect that to continue going forward. So the primary means of retention for developers on our platform is a thriving growing ecosystem.
Larger opportunities for developers existing developers being more and more economically successful and more opportunities for new developers.
It's fair to say our retention is based on the long view quality size of opportunity.
Opportunity for depth, rather than specific retention mechanisms and that long view also goes to the quality of our tool set it goes to the search and discovery built in the platform is built into the 200 million plus people already on the platform and the ability to gain new audiences.
Ed.
I would add.
Sure.
We've been so vocal about moving more and more of the economics of the developers as we get efficiencies around the company around the platform in any area of cost.
To move that out to the developer.
The synergy between the growth in the platform in the past the developers have been fantastic.
The quality of what the developers are able to produce has yielded such great economics.
<unk>.
Few years ago in the third quarter of 2019.
The entire developer community around $26 million.
In <unk> of 'twenty, it was $85 million <unk>.
<unk> this year, it's $130 million, so thats five X in two years and so we're thrilled with that kind of growth and we're just going to continue to put our heads down and work on ways with the community to grow that number.
If you followed us from the time, we did our listing actually if you've followed us when we were a private company.
We've talked consistently about pushing more and more of the economics out to the community and we will just continue to make progress against that.
Francisco Oliveira, our parallel path Gaston.
Is there any particular there.
This impairment charge.
There is and it's a strategy that really goes to the basics and goes again to our long view vision, which is finding amazing groups of people.
And amazing technologies that we can generally integrate into our robotics platform. We're in enviable position I believe where there is a lot of growth available to our company with our current growth vectors that we've shared with everyone, which is around the world All ages and new.
New interesting ways that people will interact on roadblocks learning working consolidations on the platform you can imagine the various areas we're looking for amazing.
People and great technology complement.
Okay.
I think we had maybe 10 15, one one is from Peter only remains the killer App can you comment on the roadmap for education.
Yes.
We're going to whom.
Sure our educational room.
Weak and Rebecca will be David.
Going into that.
We're excited and that we're going to be announcing some partnerships through our robust community fund were roadblocks as being used not just to learn computer science, but also to learn stem to learn creative constructive.
Ways of learning and Youll see some partnerships with some very notable educational institutes that we won't be talking about.
<unk> is an amazing group of people and Dallas technology was around <unk>.
Helping us find especially creative and problem solving.
To join our company.
And we're using it right now live in production.
We start to bring amazing people to roadblocks.
And the last question comes from Daniel Zhang from Haynesville capital can you provide any learnings from your space of late.
And what are key milestones.
Yes.
You should look for and then move towards communications Okay.
Yes, the learnings started well over a year ago, when we I guess almost a year ago. When we did our holiday party on roadblocks and.
In the midst of Covid I was able to hang out with a bunch of the people in.
At the bar in our holiday party.
It was a great connection I had missed it so much we can see it now in the adoption of special voice amongst the experiences on roadblocks as we carefully roll that out and open up the availability to the various customer base.
We will talk more about this as well at our Investor day, but we think this is a huge part of roadblocks, a future, which is allowing people to come together in a natural way, especially in groups, especially at our robots company meeting.
Have impromptu conversations like they would in the real world and ultimately work play and learn together so more to come out of Investor day on this.
Okay.
That's all the time.
Yes, just once again, thank you all for you our shareholders and to our robust community. We appreciate your support and we look forward to seeing you in a week.
For our Investor day, Thank you.
And operator I think.
Ladies and gentlemen, thank you for participating you may now disconnect.
Goodbye.
Okay.
Okay.
Okay.
Okay.
[music].
Okay.
Yes.
Sure.
Yes.
Yes.
Sure.
Yeah.
Okay.
Okay.
Sure.
Okay.
Yes.
Yes.
Sure.
Yes.
Yeah.
Yes.
Okay.
Okay.
No.
Yes.
[music].
Right.
Yes.
Yes.
Yeah.
Okay.
Yes.
Thank you.