Roblox Generates $680.8 Million in Revenue in Q2 2023, Reports 15% Increase
According to the latest financial report, Roblox has reported a 15% increase in revenue, reaching $680.8 million in Q2 2023 compared to $591.2 million in Q2 2022.
Bookings Show Significant Increase
The report also reveals a significant increase in bookings, with a total of $780.7 million for the quarter, representing a 22% increase from Q2 2022.
Engagement with the Platform Sees Strong Growth
Roblox experienced strong year-on-year growth in engagement, with average daily active users (DAU) seeing a 25% increase to 65.5 million and hours engaged increasing 24% to 14 billion.
Monthly Unique Paying Users on the Rise
The average monthly unique paying users also saw an increase of 19% year-on-year, reaching 13.5 million.
Average Bookings per User Increase
The average bookings per monthly unique paying user stood at $19.32, representing a 3% increase compared to the same period in 2022. However, the average bookings per daily active user (ABDAU) decreased by 3% year-on-year to $11.9.
The Building Blocks of Success
The founder and CEO of Roblox, David Baszucki, expressed satisfaction with the company’s growth, stating, “We continue to drive high rates of organic growth in DAUs, hours, and bookings. We are growing among users of all ages and across all geographies. We 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.”
The chief financial officer, Michael Guthrie, also commented, “This is our second consecutive quarter with year-over-year bookings growth in the low-20s. During the quarter, we also built the plans that we believe will enable us to generate operating leverage against infrastructure and trust & safety spend starting next quarter and against compensation expense starting in the first quarter of 2024.”
Global and Multigenerational Growth
Roblox highlighted in its shareholder letter that daily active users are growing across all geographies and age groups. The platform currently has nearly twice as many DAUs as it did in Q2 2020 when its user base surged due to the Covid-19 pandemic. With its global reach and appeal to various age groups, Roblox is confident that it “could, over time, grow to support one billion DAUs.”