Roblox announced that its fourth-quarter revenues, which ended on December 31, increased by 20% compared to the same period of the previous year, reaching $770.1 million.
The San Mateo company posted a loss of $67.2 million on revenues of $310 million in the prior year. For the same period in 2021, the company reported a net loss of $143.2 million on revenue of $568.8 million for the fourth quarter.
Roblox had previously raised $520 million at a valuation of $29.5 billion in a funding round before being directly listed on the New York Stock Exchange as a public company. It opened on March 10, 2021, at a valuation of $41.9 billion per share. It also raised to $1 billion through debt known as collateralized notes.
In after-hours trading, Roblox’s shares fell 13.3% per share.
Roblox CEO David Baszucki used the following words in his statement:
“With nearly 55 million daily active users, Roblox is increasingly an integral part of people’s lives. 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.”
Roblox’s quarterly revenue was $568.8 million, up 83% from the previous year. GAAP net loss for the quarter was $143.2 million (25 cents per share). Net cash from operations was reported as $122.2 million.
Roblox takes a 30% cut from sales of Robux, the virtual currency used by players to play user-created games, with the company’s 2020 bookings hitting $1.9 billion, double the previous year.
Average daily active users (DAU), which was 47.3 million in the same period of the previous year, increased by 33% to 49.5 million.
Roblox‘s CFO Michael Guthrie gave the following words in his statement:
“The foundation we put in place that allows us to invest in our business while continuing to generate strong cash flow is one of the most unique aspects of our business. Our 2021 results demonstrate that the investments we were able to make in our technology and developer community are generating strong returns, and we will continue leaning into the business as we focus on the large, long-term growth opportunity ahead of us.”
Rather than making any predictions about how its upcoming quarter will go, Roblox is announcing actual results for January, which is part of the first quarter.
In January, revenue was $203 million to $206 million, up 66% year-on-year. DAUs reached 54.7 million, up 32% from January 2021. The number of interacted hours increased by 26% compared to the previous year and reached 4.2 billion.
