Those who follow the financial reporting news out of Roblox are likely not going to find too many surprises in the company’s latest quarterly report, which once again shows another round of high revenue earnings but mighty net losses that effectively parrot reports past.
The company’s first quarter saw revenues increase 22% year-over-year to $655.3M and bookings rise by 23% YOY to $774M, while also reporting a $268M net loss for the same period, which is another significant number especially when compared to the $160M net loss Roblox Corp reported in Q1 of last year.
Naturally, the report tries to look at the bright side of things. “Now that we are generating high rates of year-over-year bookings growth, we can now moderate our rate of investment in headcount and infrastructure thereby generating operating leverage,” reads a quote from CFO Michael Guthrie. “We also expect to see more of our bookings processed through credit cards and prepaid cards which will also have a positive impact on margins.”
This might read like job cuts are coming to Roblox, but according to a post-earnings call, CEO David Baszucki claimed the company is still meeting “operational excellence” without having to hand employees their walking papers.
