Roblox has released its financial results for 2021’s third quarter, revealing that its year-over-year revenue has increased by 102 per cent year-on-year to $509 million.

The average daily users saw an increase of 31 per cent, rising to 47 million, and the number of hours users spent engaging with Roblox reached 11.2 billion.

This was an increase of 28% year over year.

“Engagement is our north star. We’re very pleased that during the third quarter, people of all ages from across the globe chose to spend over 11 billion hours on Roblox,” commented David Baszucki, Roblox's CEO.

“We are happy to report that the developer community earned over $130 million in the quarter and is on pace to earn well over $500 million this year. As we finish 2021 and head into 2022, we will continue to invest in innovative technology to enable our developer community to do what they do best - build and create.”

Compared to Q3 2020, there was a 28% increase in bookings this quarter, reaching $638 million; the average bookings per daily average user reached $13.49.

The net loss at Roblox, on the other hand, was $74 million, attributable to common stockholders during Q3 2021.

Growing in core metrics

The net cash provided by operating activities was $181 million and free cash flow increased by 7 per cent compared to Q3 2020 to $171 million.

“Growth in all of our core metrics - DAUs, hours, and bookings - displayed strong year-over-year growth despite lapping Covid-impacted periods and back-to-school seasonality,” said Michael Guthrie, Roblox's CFO.

“Notwithstanding significant investments in developer economics and hiring, we also generated healthy cash from operations. Based on our October results, we appear to be having a great start to the last quarter of the year.”