Roblox reported a staggering 30% year-on-year surge in revenue, hitting $750 million, accompanied by a 25% increase in bookings, totaling $1.13 billion. Despite these gains, the company faced a notable setback in net losses, which climbed to $325 million compared to $288 million in the same quarter last year.
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Annual Performance
For the fiscal year, Roblox boasted a resilient performance with revenues reaching $2.8 billion, reflecting a 26% year-on-year increase. Bookings followed suit, reaching $3.52 billion, up by 23%. However, the shadow of net losses persisted, escalating to $1.16 billion from $934 million in the previous year.
CEO's Optimism and Challenges
David Baszucki, Roblox's founder and CEO, expressed confidence in the company's trajectory, citing a strong quarter and reiterating the long-term goal of attracting over 1 billion daily active users. Despite a 22% year-over-year increase in daily active users in Q4, reaching 71.5 million, challenges persist, especially on the path to the ambitious 1 billion daily active users milestone.
Roblox expanded its reach onto Meta Quest and PlayStation, attributing the growth to new user acquisitions. Monthly unique payers increased to 15.9 million, spending an average of $23.65 per month, setting a new record. Looking ahead, Roblox anticipates continued growth with a 2024 revenue projection between $3.3 and $3.4 billion, representing an 18% to 21% increase. However, the company acknowledges that net losses are expected to deepen at a corresponding rate, ranging between $1.37 billion and $1.4 billion by the end of 2024.
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