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Roblox Q1 2021 Earnings Report shows solid growth

Roblox Q1 2021 Earnings

Roblox Corporation just released its first-quarter 2021 earnings report, and the numbers are looking explosive for the online global gaming platform. Highlights include a 79% YoY increase in average daily active users, with 111% growth coming from users over 13, nearly double the number of hours engaged YoY, and a revenue increase of 140% compared to Q2 2020 to $387 million.

David Baszucki, CEO of Roblox, says their platform provides a fundamental human necessity: the ability to connect with others.

“… we’re inspired by the way in which the Roblox community creates and shares experiences to play, work and even learn together. The opportunity of what we’re building at Roblox is massive, and we will continue to make long-term investments as we build a human co-experience platform that enables shared experiences among billions of users.”

According to Michael Guthrie, CFO of Roblox, the solid Q1 2021 results enable Roblox to continue its aggressive investing crucial to its long-term growth. They are focusing on hiring talented engineers and product professionals and growing their developer community. 

First Quarter 2021 Financial Highlights

  • Revenue increased 140% over Q1 2020 to $387.0 million
  • Net Loss for Q1 2020 was $134.2 million
  • Net cash provided by operating activities increased nearly 4x over Q1 2020 to $164.5 million (including one-time direct listing expenses of $51.9 million). Exclusive of one-time expenses related to our direct listing, net cash provided by operating activities would have been $216.4 million.
  • Bookings increased 161% over Q1 2020 to $652.3 million
  • Free Cash Flow increased 4.1x over Q1 2020 to $142.1 million
  • Average Daily Active Users (DAUs) were 42.1 million, an increase of 79% year over year driven by:
    • 87% growth in DAUs outside of the US/Canada
    • 111% growth in DAUs over the age of 13
  • Hours Engaged were 9.7 billion, an increase of 98% year over year primarily driven by:
    • 104% growth in engagement in markets outside of the US/Canada
    • 128% growth from users over the age of 13
  • Average Bookings per DAU (ABPDAU) was $15.48, an increase of 46% year over year

Roblox April 2021 Key Metric Estimates

  • Daily active users were 43.3 million, up 37% from April of last year and up sequentially from 42.3 million in March 2021
  • Hours engaged were 3.2 billion, up 18% year over year and flat sequentially from March 2021
  • Bookings were between $242 million and $245 million, up 59% – 61% year over year and up sequentially 7% – 9% from March 2021 when bookings were $225.3 million
  • Average bookings per DAU were between $5.59 – $5.66, up 16% – 17% year over year and 5% – 6% sequentially from March 2021
  • Revenue was $143 million – $145 million, up 136% – 140% year over year and 5% – 7% sequentially from March 2021
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