In a busy week for financial results, Roblox revealed its latest figures yesterday. The gaming platform averaged 54.1 million daily active users in Q1 2022, up 28% year-on-year. Meanwhile, its revenues were up by 39% to $537.1m, and its users spent 11.8bn hours on Roblox – up 22%.
All good, right? Well, there are some causes for concern.
Roblox’s bookings – the metric covering how much its users actually spent on its platform – were down by 3% year-on-year. Meanwhile, those figures for users and revenues failed to meet analysts’ predictions, which led to Roblox’s share price falling by 10% after the results were published yesterday.
No wonder CEO David Baszucki mentioned the company’s “innovation roadmap” and “long-term returns for investors” in his statement: Roblox wants those investors (not to mention the growing number of music companies investing in Roblox experiences) to not wobble in the short term.
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