Roblox predicts $1.5 billion in revenue for 2021

A potential growth of 56% to 64% year-on-year

Roblox predicts $1.5 billion in revenue for 2021

Games platform Roblox expects to hit $1.5 billion in revenue this year.

Moreover, the company believes that it will accumulate $2.1 billion in non-GAAP bookings for the 12 months ending December 31st, 2021.

Roblox projects daily active users to between 34.6 million and 34.4 million for the full year, a growth rate between six per cent and 12 per cent.

Meanwhile, hours engaged are set to hit anywhere between 29.8 billion and 31.4 billion hours, representing a growth rate somewhere between a three per cent decline and a three per cent increase.

As for revenue, Roblox predicts between $1.4 billion and $1.5 billion, meaning company growth will be in the range of 56 per cent to 64 per cent.

Strong year

"We headed into 2020 with strong organic growth, which was further bolstered by social distancing restrictions," said Roblox CFO Michael Guthrie.

"As those restrictions ease, we expect the rates of growth in 2021 will be well below the rates in 2020, however, we believe we will see absolute growth in most of our core metrics for the full year.

"We also expect that by expanding further into older age demographics and growing internationally in regions like western Europe and East Asia, we will have significant opportunities to grow our business at higher rates again starting in 2022 and beyond.

Guthrie concluded: "We remain confident in our mission and the opportunity ahead as we become the platform of choice for people to come together to create, connect and explore millions of immersive, virtual experiences together."

Later this month, Roblox will begin to trade publicly via the New York Stock Exchange. In January, the company confirmed it would go public through a direct listing at a valuation of $29.5 billion.

Staff Writer

Kayleigh is the Staff Writer for Besides PGbiz and PCGI she has written as a list writer for Game Rant, rambling about any and all things games related. You can also find her on Twitter talking utter nonsense.