Roblox’s financial reports have been both bizarre and repetitive for years now, and we’re afraid Q2 2023 is no different. While the company saw a sizable increase in revenue – up 15% since the same quarter last year – it continues to outspend that revenue by a significant margin, resulting in a net loss of $282M for the quarter, which is 60% more than the company lost in Q2 2022. That M is not a typo.
Daily users were also up 24% since last year, in spite of the big ol’ laundry list of reasons people should not let their kids play Roblox that we’re exhaustedly tucking down below.
In their corporate letter to stockholders, executives suggest that they are “building a platform that could, over time, grow to support one billion DAUs.” They also stress plans for artificial intelligence.
“Throughout our Company’s history, we have made numerous product releases that leverage AI. Recent advances in the sector enable us to create a multimodal generative AI model that works with all types of content — images, code, 3D models, audio, avatar creation, and more. Roblox is uniquely positioned to build this generative model given our large data set of 3D models and experiences, live avatar behavior, and moderation data. Such a model can then be translated into a rich set of tools for 3D creation, avatar behavior modeling, and content and behavior moderation that are significantly more efficient and accurate. Early examples of such tools are our Material Generator and Code Assist in Studio.”
