Roblox is bullish on its growth potential, eyes 1 billion daily active users
The company is very confident.
Roblox has posted its financial results for the second quarter ended June 30, reporting an uptick in revenue and a small decline in daily active users.
According to the report, revenue was $681 million, up 15% year-over-year (yoy), with net bookings at $781 million, up 22% yoy.
That said, daily spending per user was down 3% to $11.92, despite the platform having 65.5 million daily active users during the quarter, a figure that is up by 25% yoy.
Monthly active users also saw a 19% yoy uptick to 13.5 million, with $19.32 in monthly unique payers, up 3% yoy. Hours engaged in Roblox were up 24% yoy to 14 billion.
The company is rather bullish on its ability to continue attracting users to the platform as it grows among users of all ages and across all geographies.
To that end, given the geographic and age diversity of its user base, along with investments in the product, Roblox is confident it is "building a platform that could, over time, grow to support one billion DAUs."
"We are growing [and] remain focused on extending our product leadership to drive value for creators and brands, and even more innovative and immersive avatars and experiences for our users," said founder and CEO David Baszucki.
If you are unfamiliar with Roblox, it's an online game platform and game creation system that allows you to program games, and play those created by other users. Released in 2006, the platform hosts user-created games of multiple genres.
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