Roblox Corporation (NYSE: RBLX), a global platform that brings millions of people together through shared experiences, recently released its key metrics for March 2023.
The figures indicate substantial growth in various aspects of the company’s performance.
However, Roblox also announced that it would discontinue monthly key metrics releases, opting instead for a quarterly reporting schedule.
Roblox Reports Impressive March 2023 Key Metrics, Announces Shift in Reporting Cadence
Growth in Daily Active Users and Engagement
The March 2023 metrics showcase remarkable progress across several areas, including a 26% year-over-year increase in daily active users (DAUs), which reached 66.2 million. Hours engaged also experienced a 26% year-over-year growth, totaling 4.8 billion.
These impressive numbers suggest that Roblox continues to attract and retain a large, active user base.
Revenue and Bookings Show Upward Trend
Estimated revenue for March 2023 ranged between $212 million and $223 million, marking a 15% to 21% year-over-year growth. Meanwhile, estimated bookings stood between $247 million and $255 million, reflecting a 23% to 27% year-over-year increase.
These results indicate a strong financial performance for Roblox, with both revenue and bookings showing consistent growth.
ABPDAU Remains Steady Despite Currency Fluctuations
The estimated average bookings per daily active user (ABPDAU) for March 2023 ranged from $3.73 to $3.85, representing a -2% to +1% year-over-year change. Although foreign currency fluctuations impacted revenue and bookings growth by approximately 2%, Roblox’s constant currency basis calculations reveal a more accurate picture.
On a constant currency basis, March 2023 revenue growth would have been between 16% and 22%, bookings growth would have ranged between 25% and 29%, and ABPDAU change would have been between -1% and 3%.
Shift from Monthly to Quarterly Metrics Reporting
While Roblox has been publishing monthly key metrics for its first eight quarters as a public company, the company has decided to align its reporting cadence with its long-term view value. As a result, Roblox will cease providing key monthly metrics and will instead publish key metrics on a quarterly basis, in line with other quarterly disclosures such as the shareholder letter and quarterly publications.
This change in reporting frequency demonstrates Roblox’s commitment to taking a long-term approach to its business operations, focusing on sustained growth and performance rather than short-term fluctuations.
Forward-Looking Statements and Risks
It’s important to note that the forward-looking statements in Roblox’s press release are subject to various risks and uncertainties.
Actual results may differ significantly from stated or implied forward-looking statements or company expectations due to numerous factors, including those detailed in the company’s filings with the Securities and Exchange Commission (SEC).
As Roblox continues to expand its platform and user base, investors and industry watchers should remain aware of the inherent risks and uncertainties associated with the company’s growth trajectory.
This might be the result of its massive revamp of Roblox ads and that they’re currently at stakes on what content is best shown for advertising.