Roblox Corporation, (NYSE: RBLX) reported its third-quarter earnings. After results were reported, shares of Roblox surged more than 30 percent in extending the trading session on Monday.
Company revenue is doubled from $250 million in last prior quarter to $500 million in this respective quarter. The net loss attributable to common stockholders is around $74 million which was about $50 million in last prior quarter. The earning per share for this quarter is in negative 13 cents per share.
Analysts impressed by the booking expectations which grow more than 25 per cent over the year in this quarter.
Average daily active users increased 31% from a year earlier to 47.3 million in the third quarter. That showed an acceleration in growth from the second quarter when users rose 29% to 43.2 million.
“It’s clear that even as users revert back to pre-pandemic routines and behaviors, Roblox remains an important part of their day,” executives wrote in a letter to shareholders.
About the company
Roblox Corporation is an American video game developer firm. It is based in San Mateo, California. The company is founded by David Baszucki and Erick Cassel. It was founded around 2006. It is very well known for providing gaming entertainment for children.
Roblox said it had over 47.3 million average daily active users in the third quarter, up 31% year over year and up from 43.2 million in the second quarter.
Through the first 27 days of October, bookings were estimated to be between $177
– $179 million, an increase of 30% – 34% over the same period in 2020. Actual
bookings for the entire month of October were estimated to be between $189 –
$192 million. Bookings for the full month of October 2020 were $165.1 million.
As of the quarter ended September 30, 2021, Roblox attracted an average of 47.3
million daily active users (DAUs) which were 31% higher than in Q3 of 2020 and
were 2.6x larger than in Q3 of 2019. Approximately 50.4% of the users were over
the age of 13, compared to 44.5% last year. User growth in Q3 2021 was highest in
the Asia Pacific region, growing 75% over last year.
Financial
| ROBLOX CORPORATION | |||||||||||||||
| CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS | |||||||||||||||
| (in thousands, except per share amounts) | |||||||||||||||
| (unaudited) | |||||||||||||||
| Three Months Ended September 30, |
Nine Months Ended September 30, |
||||||||||||||
|
2021 |
2020 |
2021 |
2020 |
||||||||||||
| Revenue |
$ |
509,336 |
|
$ |
251,914 |
|
$ |
1,350,412 |
|
$ |
613,876 |
|
|||
| Cost and expenses: | |||||||||||||||
| Cost of revenue(1) |
|
130,015 |
|
|
65,818 |
|
|
344,882 |
|
|
161,280 |
|
|||
| Developer exchange fees |
|
129,952 |
|
|
85,475 |
|
|
378,604 |
|
|
215,026 |
|
|||
| Infrastructure and trust & safety |
|
117,387 |
|
|
71,405 |
|
|
320,509 |
|
|
185,878 |
|
|||
| Research and development |
|
138,245 |
|
|
51,708 |
|
|
359,637 |
|
|
141,366 |
|
|||
| General and administrative |
|
51,584 |
|
|
16,168 |
|
|
243,637 |
|
|
65,433 |
|
|||
| Sales and marketing |
|
19,599 |
|
|
12,858 |
|
|
58,591 |
|
|
42,423 |
|
|||
| Total cost and expenses |
|
586,782 |
|
|
303,432 |
|
|
1,705,860 |
|
|
811,406 |
|
|||
| Loss from operations |
|
(77,446 |
) |
|
(51,518 |
) |
|
(355,448 |
) |
|
(197,530 |
) |
|||
| Interest income |
|
28 |
|
|
217 |
|
|
59 |
|
|
1,758 |
|
|||
| Other income/(expense), net |
|
(770 |
) |
|
1,306 |
|
|
(1,810 |
) |
|
(1,357 |
) |
|||
| Loss before provision for income taxes |
|
(78,188 |
) |
|
(49,995 |
) |
|
(357,199 |
) |
|
(197,129 |
) |
|||
| Provision for/(benefit from) for income taxes |
|
(998 |
) |
|
19 |
|
|
(976 |
) |
|
25 |
|
|||
| Consolidated net loss |
|
(77,190 |
) |
|
(50,014 |
) |
|
(356,223 |
) |
|
(197,154 |
) |
|||
| Net loss attributable to the noncontrolling interest |
|
(3,188 |
) |
|
(1,401 |
) |
|
(7,870 |
) |
|
(2,641 |
) |
|||
| Net loss attributable to common stockholders |
$ |
(74,002 |
) |
$ |
(48,613 |
) |
$ |
(348,353 |
) |
$ |
(194,513 |
) |
|||
| Net loss per share attributable to common stockholders, basic and diluted |
$ |
(0.13 |
) |
$ |
(0.26 |
) |
$ |
(0.73 |
) |
$ |
(1.09 |
) |
|||
| Weighted-average shares used in computing net loss per share attributable to common stockholders – basic and diluted | 575,932 | 183,454 | 480,357 | 177,771 | |||||||||||