The online game platform and game creation system Roblox shared its financial report for Q2 2022. The gaming giant posted a wider-than-expected loss in the second quarter despite a significant increase in revenue in the three-month period ended June 30.
The USA-based developer joined the ranks of video game companies that reported disappointing numbers in this period. Roblox’s revenue increased to $591,2 million in the second quarter, but the gaming entity also saw a net loss of $176,4 million or $0.30 a share. The company’s bookings were also down by 4% year-on-year, to $639.9 million.
It’s not all bad news for the gaming giant though, as the average daily active users (DAUs) were up 21% year-over-year, to 52.2 million and players’ engagement time also increased by 16% year-over-year, to 11.3 billion hours.
Roblox Q2 2022 in numbers
Roblox CEO David Baszucki believes the company is making major progress despite the increasing net debt. Roblox has been expanding globally and making long time investments in several areas.
- Net Revenue: $591.2 (30% up)
- Net Bookings: $639.9 million (4% down)
- Net loss: $176,4 million
- Net loss per share: $0.30
Baszucki shared his thoughts with the following words:
“We are driving record levels of users and engagement globally as we execute on our innovation roadmap and broaden the appeal of Roblox across geographies and age groups. We continue to make progress on key operational and product initiatives to enhance the long-term value of the Roblox platform.”
Michael Guthrie, the CFO of Roblox, also commented:
“We remain focused on investing in strategic areas that we believe will drive platform growth and monetization. We have a tremendous opportunity as we continue to define the future of this new immersive co-experience category.”
While Roblox is usually referred to as a free-to-play metaverse game that’s popular among children and teenagers, the company’s official newsletter stated that the fastest growing demographic is 17-24 years old players across both male and female players; and they’re expecting this growth to continue for the next few months.