Roblox bookings grow 20% to $770.1M in Q4
GamesBeat Summit 2022 returns with its largest event for leaders in gaming on April 26-28th. Reserve your spot here!
Roblox, the platform for Lego-like user-generated games, reported its bookings for the fourth quarter ended December 31 were $770.1 million, up 20% from the same period a year ago.
The San Mateo company reported a net loss of $143.2 million on revenues of $568.8 million for the fourth quarter, compared to a loss of $67.2 million on revenues of $310.0 million a year earlier.
Roblox has done well among its target audience of children and teens during the pandemic, as players turned to it for remote, socially distanced play with their friends at a time when they couldn’t meet in-person.
Roblox previously raised $520 million at a $29.5 billion valuation in a financing round ahead of its direct listing on the New York Stock Exchange as a public company. It opened on March 10, 2021 at a valuation of $41.9 billion a share. It also raised up to $1 billion through debt known as secured notes.
GamesBeat Summit 2022
In after-hours trading, Roblox’s stock is down 13.3% a share.
“With nearly 55 million daily active users, Roblox is increasingly an integral part of people’s lives,” said David Baszucki, CEO of Roblox, in a statement. “As we look ahead to 2022, we will continue to develop our technology to enable deeper forms of communication, immersion and expression on our platform.”
Analysts expected a loss of 13 cents a share on bookings of $772 million for the further quarter. Most video game companies emphasize non-GAAP bookings, or the total value of virtual currency purchases by players during the quarter, instead of revenues, which under accounting rules are limited to those purchases that are expected to be fully
Read more on venturebeat.com
