Roblox has released its latest financial results, showcasing the company’s strong performance over the quarter.
The company’s revenue for the quarter stood at $517.7 million, representing a 2 percent increase from the same period in 2021, and the company saw a 24 percent rise in daily active users (DAU) over the same period, reaching 58.8 million.
The company’s total assets stood at $5.04 billion, a 10 percent increase from $4.56 billion in the third quarter of 2021. This suggests that Roblox is continuing on a strong upward trajectory and avoiding the industry trend of decline as the market normalises following the easing of lockdown restrictions worldwide.
“We are delivering strong growth across our core operating metrics, powered by a growing developer community creating high-quality experiences that appeal to a broad, global audience,” said Roblox CEO David Baszucki. “We are creating innovative technologies to enable deeper forms of immersion, communication and expression to further enhance the value of the platform.”
The power of user engagement
The Roblox community is increasingly engaged with the platform, with the company reporting 13.4 billion hours engaged, representing a 20 percent increase from Q3 2021. However, the average bookings per DAU declined 11 percent year-on-year to $11.94. Although this could suggest that consumers are spending more money elsewhere than they were a year ago, possibly due to the easing of lockdown restrictions, it could also speak to the strength of Roblox’s free-to-play components, with a wide variety of games and activities available at no cost.
“We are pleased with the third-quarter growth in users, engagement and bookings, which demonstrates the significant progress we are making on key platform initiatives such as ageing up and international growth,” said Roblox CFO Michael Guthrie. “At the same time, we are continuing a disciplined capital allocation strategy focused on maximising long-term shareholder value.”
In September, Adobe veteran Stefano Corazza was appointed head of Roblox Studios.
