Top 5 This Week

Related Posts

Roblox revenue sees a 38% bump in Q3

Roblox released its financial results for the quarter ended September 30, 2023, which shows that the firm’s revenue continued to grow.

The numbers

Revenue: $713 million, up 38% year-on-year
Bookings: $839.5 million, up 20% year-on-year
Net losses: $279 million, compared to $302 million in the same quarter last year

The highlights

Roblox’s report highlighted the growing number of its daily active users (DUA) for the third quarter, up 20% year-on-year to 70 million. By comparison, the user count is up from the 65.5 million posted in the previous quarter.

Roblox also reported monthly unique players up 14% to 14.7 million and hours engaged up 20% to 16 billion.

Regarding its continued growth with bookings, chief financial officer Michael Guthrie said it “was particularly strong in western Europe and east Asia.”

He added: “The US and Canada still accounted for the majority of bookings growth in dollar terms among all regions. We also slowed spending growth across most of our major expense categories.”

While Roblox continued to see financial gains, the company was active with acquisitions during the quarter. Back in September, it acquired Speechly, an AI start-up specializing in voice moderation technology.

“We are executing against our key priorities to enable deeper forms of immersion, communication, and avatar expression on the platform while investing in artificial intelligence, brands, and advertising to drive future growth,” said CEO David Baszucki in the earnings report.

While the report did not offer many details for Roblox’s Q4 or full year projections, Guthrie said, “While we continue to invest in innovation, we are now entering a new phase where we can slow the growth in operating expenses and capital expenditures, thereby generating operating leverage and free cash flow.”

September saw Roblox lay off around 30 employees from its talent acquisition division as it focuses on shoring up its bottom line.

Back in August, a class action lawsuit was filed against the firm. The complaint from parents accuses the developer of “an illegal gambling ecosystem” and violating federal law.

Popular Articles