Roblox posts Q2 losses of $176.4m as bookings continue to decline

Despite increases in revenue and engagement, Roblox's losses continue as the company posted its financial results for Q2 2022.

For the three months ended June 30, 2022, the firm behind the popular kids game of the same name reported a net loss of $176.4 million – steeper than the $140.1 million loss it posted in the same quarter last year.

The numbers

Revenue: $591.2 million, up 30% year-on-year
Net loss: $176.4 million, down 26%
Bookings: $639.9 million, down 4%
Average Daily Active Users (DAUs): 52.2m, up 21%
Average bookings per DAU: $12.25, down 21%

The highlights

Roblox CEO David Baszucki said the company is "driving record levels of users and engagement globally" as it pushes forward with plans to broaden Roblox's appeal across different age groups and other markets.

The number of average daily active users was up 21% year on year to 52.2 million, while the number of hours engaged rose 16% to 11.3 billion.

But this is the second quarter in which Roblox has reported a decline in bookings, a key metric for the company. The 4% drop was roughly in line with the 3% decline reported in Q1 2022.

The average booking per daily user was also down, slipping 21% year-on-year to $12.25 – although this is an improvement on the average booking of $11.67 posted in the first quarter.

Roblox also reported a net loss in Q1, too, with these latest results revealing that losses for the year so far stand at $336.6 million, compared to a loss of $274.4 million the year before.

In its 2021 results, Roblox posted a full-year net loss of $491.7 million.

However, the company's next quarter is already off to a better start. A number of key metrics were up in July, with increases of around 26% reported for both revenue and daily active users.

Bookings were also up in July, rising between 8% and 10% to $243 million to $247 million. That said, the average booking was still down year-on-year to between $4.15 and $4.22.