I’m definitely not business savvy under any circumstance, so maybe I’m missing something here, but the fact that Roblox has seen player counts and profits rise but the company confirm another net loss and a loss of 60% of its stock value since its 2021 peak while still continuing to operate is kind of astonishing. Who knew child labor doesn’t pay the bills?
The company behind the game offered up its second quarter financial report, confirming a 30% year-over-year increase in revenue with $591.2 million earned, but a $176.4 million net loss and $639.9 million in bookings, both of which represent a downturn of 25% and 4% respectively when compared to the prior quarter. The total net loss is $336.6 million so far this fiscal year – a number inching closer to the $491.7 million loss over the entirety of 2021.
The company does expect its fortunes to reverse in Q3, with most of its hopes pinned on upward trends for the month of July, which saw a 26% increase in revenue and an 8% to 10% increase in bookings. Roblox CEO David Baszucki said that the company is “driving record levels of users and engagement globally” and that the game will continue efforts to expand the age groups that engage with the game.