Roblox Q1 revenues rise to $537.1 million

gamesindustry.biz:

James Batchelor

Editor-in-Chief

Wednesday 11th May 2022

Roblox has released its financial results for the first quarter of the year, showing a healthy rise in revenues.

The company reported revenues rose 39% year-on-year to $537.1 million for the three months ended March 31, 2022.

The average number of daily active users (DAU) also increased, up 28% to 54.1 million. Hours engaged was up 22% to 11.8 billion.

However, bookings dipped slightly to $631.2 million, which is down 3% year-on-year. The average bookings per DAU was $11.67; in Q1 2021, this was reported as $15.48.

The company also reported its estimates for these metrics in April 2022.

Revenue was estimated at between $189 million and $192 million for the month, up 30% to 32% compared to April 2021.

DAUs were also up, rising 23% to 53.1 million, while hours engaged were up 18% to 3.8 billion.

However, bookings declined between 8% and 10% to between $221 million and $224 million. Average booking per DAU was estimated as between $4.16 and $4.22, down between 25% and 26% compared to last year.

Back in February, Roblox reported its first full-year results since its IPO in March 2021, with revenues more than doubling to $1.9 billion and bookings up 45% to $2.7 billion.

Commenting on the Q1 results, CEO David Baszucki said: "We remained focused on delivering our innovation roadmap to unlock the full potential of the Roblox platform and drive long-term returns for investors.

"Over the past two quarters, we have launched a number of notable innovations including spatial voice and layered clothing that will continue driving user growth, engagement and monetization."

Roblox's business model has attracted criticism in the past year, with a report by People Make Games highlighting how the